The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) on Thursday submitted a comprehensive set of proposals to the Finance Ministry focusing on reviving the country’s economy from the ongoing crisis.

As operations in the Free Trade Zones came to a standstill, due to the islandwide hartal, the Board of Investment (BOI) yesterday stressed that all stakeholders must first look into safeguarding the interests of foreign investors.

The Colombo Tea Auction saw good general demand at firm to easier rates this week and the offering increased by 0.82 MnKgs to 5.9 MnKgs.

April 2022 recorded the highest ever national tea sales average for a calendar month.

Airlines face a slew of growing costs in the coming year including higher insurance, fuel, labour and lease rates, the chief executive of major aircraft lessor SMBC Aviation Capital said on Thursday.

Lanka IOC has delivered stunning financial performance for the three months to March 2022, concluding what could be referred to as a solid financial year, amid back-to-back steep increases in fuel retailing prices in response to global prices and the

Sri Lanka Institute of Marketing (SLIM) yesterday said it has decided to maintain the prices of all services, including the present rates charged for various course offerings, unchanged despite the general price increases seen across the country.

How much Sri Lanka would be able to access from the International Monetary Fund (IMF) or what is referred to as ‘access level’ in the Fund’s parlance is too early to be determined as the two parties are still at the early stages of negotiations

The Colombo Chief Magistrate’s Court yesterday further extended its order preventing former Central Bank Governor Ajith Nivard Cabraal from leaving the country until May 23. On April 7,

Advocata’s Bath Curry Indicator (BCI) , which tracks the monthly changes in the retail price of food, recorded an increase of 14 percent from March 2022 to April 2022. This is a year-on-year increase of 49 percent for this basket of food.

The country’s rubber sector yesterday emphasised that bringing in political stability is the only way forward to resolving the macro-economic catastrophe the country is facing.

Turkey’s annual inflation jumped to a two-decade high of 69.97 percent in April, according to data yesterday, fuelled by the Russia-Ukraine conflict and rising energy and commodity prices after last year’s lira crash.

The much-awaited global communications campaign for destination Sri Lanka would not be rushed and would only be launched at the “appropriate time”, the Sri Lanka Tourism Development Authority (SLTDA) chief said.

Crisis-struck Sri Lanka’s vital tea exports have dropped to their lowest level in 23 years, official figures showed yesterday, hit by a fertiliser ban and the war in Ukraine.

The winners of Fast Company’s 2022 World Changing Ideas Awards were announced, honouring clean technology, innovative corporate initiatives, brave new designs for cities and buildings, and other creative works that are supporting the growth of posi

Tourist arrivals for the month of April witnessed 40.8 percent drop when compared with the previous month. The significant contraction can be attributed to the ongoing economic crisis in the country that has grabbed the attention of the world.

TRACE Expert City in a statement said it is extremely concerned about the current economic crisis, the lethargic response of the executive and the legislature, and the continued failure to listen to the demands of a populace reeling from the effects

The Cabinet nod has been granted to roll out a pilot project for introducing a digital gateway to verify digital identification of departing passengers at the Bandaranaike International Airport (BIA) based on International Aviation Association’s (I

The government has decided to prioritise imports of pharmaceuticals fuel and LPG following the concerns expressed on allocating US$ 500 million for industrial raw materials under the US$ 1 billion Indian credit line.

As doing business in Sri Lanka is becoming increasingly difficult with the current economic situation, 18 industry associations yesterday came on to one platform to present a 10-point plan to restart Sri Lanka.

The Reserve Bank of India’s (RBI) monetary policy committee raised the key lending rate by 40 basis points yesterday, citing persistent inflationary pressures in the economy, Governor Shaktikanta Das announced.

HNB Assurance PLC Group delivered a robust performance during 1Q22, recording a profit after tax (PAT) of Rs.235 million, reflecting an impressive growth of 144 percent, compared to the PAT of Rs.96 million recorded during the corresponding period of

The yields in the Treasury bills across the tenures eased somewhat at the auction held yesterday after two weeks of moderating.

As China expressed some qualms over Sri Lanka choosing to restructure its debt with the help of the International Monetary Fund (IMF) instead of refinancing them, Central Bank Governor Dr. Nandalal Weerasinghe said that all creditors would be treated

Sri Lanka plans to replace its current “unrealistic” budget and is in talks with the World Bank to extend its support by US $ 300 million to US $ 700 million, the country’s finance minister said yesterday.

The importers have begun to feel the rupee depreciation shock since March onwards, as data pointed to a decline in imports, which has further extended to the imports in April.

The development lending institutions such as the World Bank, Asian Development Bank and the likes have shown their inclination to reallocate their funding lines, which have originally been assigned for specific development products, to assist those w

The World Bank (WB) has agreed to provide US $ 167 million (Rs.13.36 billion) in financial assistance to extend a special cash allowance for identified 3.34 million low-income families in the country, from May to July.

Indian Oil Corporation (IOC) Ltd has secured a bid to supply four shipments of fuel, comprising of diesel, petrol and Jet A1 aviation fuel, under the US $ 200 million short-term loan facility provided by the Export-Import Bank of India.

Coming off of the highest ever growth recorded in private sector credit in 2021, the Central Bank has forecasted a somewhat tapered down, yet still robust growth in private sector credit in 2022, as the country enters a period of intense volatility a