Sri Lanka’s annual average inflation is estimated to remain at a shockingly high level of 22 percent through the end 2022 indicating that the economic crisis and its reverberation would grind on for years to come from where it is today.

The Central Bank Governor Dr. Nandala lWeerasinghe and the Treasury Secretary Mahinda Siriwardana yesterday met with Opposition Leader Sajith Premadasa to apprise him of the economic crisis faced by the country.

The tea and rubber auctions that were scheduled for yesterday had been postponed.

The Joint Apparel Association Forum (JAAF) yesterday called upon leaders and authorities to immediately restore political stability across the country by urgently filling the political vacuum created with the resignation of Prime Minister Mahinda Raj

SLASSCOM, the national chamber for IT/BPM industry in Sri Lanka announced it will launch a one-day salary donation campaign in an effort to help ease the economic hardship faced by citizens due to the ongoing crisis. The SLASSCOM said it is launching

Singer Sri Lanka PLC, the country’s premier consumer durables retailer, recently unveiled the first fully-fledged Dahua Concept Store, showcasing Dahua’s latest surveillance product line and smart solutions.

Asian Chill Equipment (Pvt.) Ltd and the ASPARAI brand, the leader in manufacturing commercial stainless-steel refrigeration and kitchen equipment and food display counters for hotels, won the Platinum award in the small and medium-scale electrical a

PeoplesHR Outsourcing, a strategic business unit of hSenid Business Solutions, formerly known as hSenid HRO, recently expanded its global footprint with the aim of advancing outsourcing in global markets.

McLarens Group of Companies scooped several accolades at several prestigious awards ceremonies, where its excellence received a wide recognition over the last month.

CIPM Sri Lanka, the nation’s leader in human resource management, created a path-breaking milestone with the University of Vavuniya, recently signing a landmark memorandum of understanding (MoU).

Macksons Holdings opened its latest showroom in Kollupitiya recently, bringing its iconic Sri Lankan brands Multilac and Macktiles closer to the customers.

Leading pharmacy, beauty and healthcare chain Healthguard is expanding its best-in-class portfolio of wellness offerings with an exclusive partnership with Australia’s No.1 multivitamin brand Swisse.

The Ceylon Chamber of Commerce (CCC) yesterday cautioned that the country would face grave repercussions, if immediate action is not taken to protect the fundamental rights of the people.

Sri Lanka’s outward labour migration has topped the 100,000 mark so far during the year, with an increasing number of Sri Lankans moving to take up foreign employment opportunities to escape from the worsening economic and political crises in the c

The Sri Lanka Tourism Development Authority (SLTDA) announced yesterday that international travellers currently in the country should use their travel documents as a curfew pass.

Sunshine Healthcare Lanka Limited, a subsidiary of Sunshine Holdings PLC, has withdrawn a bid to acquire Hemsons International (Private) Limited.

The World Bank (WB) yesterday expressed grave concerns on the current status of Sri Lanka, as the protestors came under attack by the pro-government supporters.

The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) yesterday strongly condemned the attack on the peaceful demonstrators, which is a flagrant violation of the principles and values of a civilized society.

The Kingsbury PLC recorded a recovery from the pandemic-induced slump in the quarter ended on March 31, 2022, though its business was hit by the economic crisis in the final month of the quarter.

Commercial Bank of Ceylon PLC yesterday announced the appointment of Sanath Manatunge as Managing Director (MD) and Chief Executive Officer (CEO), effective May 12, 2022 and the concurrent appointment of Sellathurai Prabagar as Chief Operating Office

The China-based Asian Infrastructure Investment Bank (AIIB) has expressed its willingness to grant US$ 100 million emergency funding to Sri Lanka.

Sri Lanka’s official foreign reserve assets stood at US$ 1,827 million by the end April, slightly changed from US$ 1,917 million that stood at the end of March. But the usable reserve position has fallen to a frighteningly low level of US$ 50 milli

Sri Lankan-born and Finnish-based serial entrepreneur Iranthi Gomes has fulfilled her childhood dream of making it onto Forbes magazine’s 30 Under 30 Europe list in 2022.

A top economist has been appointed to advise the Treasury Secretary and assist him to chart a path for the economy beset by multiple crises while the government is working with the United Nations Development Programme (UNDP) to set up a research unit

Deshal de Mel, Research Director at Verité Research is taking up the role of Advisor to the Finance Ministry. He will be working with the technical team at the Treasury on economic recovery efforts for Sri Lanka.

The Central Bank has suspended cash dividends by licensed banks incorporated in Sri Lanka, among a host of other restrictions on discretionary payments, effective immediately until December 2022 in a bid to ensure that they maintain sufficient liquid

The Finance Ministry on Friday issued a gazette providing the legal framework to bring curtains down on imports carried out via open account payment terms, a method often used by importers to bypass the formal banking channels.

The bank lending rates are adjusting at a lightning speed in response to the sharp tightening in the monetary policy following the unprecedented 700 basis points policy rate hike by the Central Bank on April 8.

The top management of EWIS visited the Hambantota International Port (HIP) recently, to evaluate possibilities of expanding their business via the port.

PwC Sri Lanka, Sri Lanka Export Development Board and the Joint Apparel Association Forum in line with its goal of helping the local apparel industry adapt to these requirements, will be hosting a webinar titled ‘ESG Towards a Responsible Future in