The Cabinet of Ministers this week cleared the path for the tabling of the Central Bank annual report 2021 in Parliament, as per the provisions of the Monetary Law Act.

The Cabinet nod has been granted to appoint a five-member Cabinet Sub-Committee chaired by Mass Media Minister Dr. Nalaka Godahewa to identify investment opportunities that have the potential to attract foreign investment expeditiously to the country

Diffusing certain reports in the media and concerns among the people on the banking sector, the Central Bank last week reassured the stability of the country’s banking sector, citing its robust capital and liquidity profile.

Sri Lanka could fall into a recession in 2022 as the most optimistic forecast of one percent came from the Central Bank while most others predicted marginal or de-growth for the country’s economy.

Luminex Limited has announced its plans for a Rs.250 million initial public offering (IPO) of 31,250,000 ordinary shares, at Rs. 8.00 per share, commencing on May 12, 2022.

For fashion ‘look, touch and feel’ is everything. So, it can seem counterintuitive that the world’s largest brands could soon be creating outfits and accessories that will either partly or completely exist in a virtual space. But as much as it

A high-level delegation from Japan’s Ministry of Foreign Affairs (MOFA) visited Hambantota International Port (HIP), to get first-hand information on a wide range of subjects relating to port activity and the economy of the southern part of Sri Lan

The apparel sector is slated to receive a fresh boost with the launch of the proposed fabric park in Punnakuda, Batticaloa.

The fast boom of digital media has redefined how marketing efforts are carried out. However, print advertising remains central to the marketing mix, a new report by the International News Media Association (INMA) said.

All Sri Lankan private hospitals and nursing homes are seeking the assistance from overseas donors to secure the required medicines and medical equipment to save the lives of the patients hit by the acute shortages of such items, due to the ongoing f

CHINT Group Corporation, a leading global provider of smart energy solutions, has been granted an interim injunction order in the Commercial High Court of Colombo recently against infringing party, Chint Power Solutions (Pvt) Ltd., a wholesale suppli

The Finance Ministry last week admitted that the sweeping tax cuts introduced by President Gotabaya Rajapaksa’s government was the main reason for the State coffers to go dry and the biggest contributor to current economic malaise the country is fa

International Monetary Fund Managing Director Kristalina Georgieva has tested positive for COVID-19, the IMF said last week, following marathon meetings last week with global finance leaders in Washington.

Sri Lanka’s fiscal deficit reached an all-time high of Rs.2, 057.9 billion in 2021, which is equivalent to a massively unsustainable 12.2 percent of the total economic output as revenue plunged amid low tax rates and virus-related lockdowns, while

Some rated Sri Lankan corporates are more affected by the challenging macroeconomic environment stemming from Sri Lanka sovereign’s distressed credit profile, Fitch Ratings said last week.

Former Sri Lanka Tourism Development Authority (SLTDA) and Sri Lanka Tourism Promotion Bureau (SLTPB) chief Kishu Gomes has called for the immediate resignation of Sri Lanka Tourism Chairperson Kimarli Fernando with the recovery of tourism sector com

The consumer prices in the Colombo district rose 29.8 percent in April over the same month in 2021, logging the highest ever inflation recorded as prices received a jolt from the botched currency float, which caused multifold increases in prices of a

As Sri Lanka is beginning to feel the heat of restructuring its debt, an effort it must take to gain the International Monetary Fund (IMF) support, the Central Bank affirmed that domestic debt would remain untouched.

The Ceylon Electricity Board (CEB) would need to increase electricity tariffs by over 400 percent, if it is to come out of its mountain of issues. While burdening the consumers for decades of mismanagement in the CEB is unrealistic, the company must

Central Bank Governor Dr. P. Nandalal Weerasinghe presents Annual Report 2021 to Finance Minister M.U.M. Ali Sabry in the presence of Treasury Secretary K.M.M. Siriwardana, Central Bank Assistant Governor A.R.K. Wijesekara, Economic Research Director

Sri Lanka’s rubber industry is unable to unleash its full potential and fetch higher revenue, as it continues to receive little attention from the government.

Total offering at the Colombo Tea Auction this week increased to 5.8 MnKgs, from the 5.0 MnKgs that came under the hammer the previous week.

Tea production for 1Q22 contracted by 15 percent year-on-year with March output totalling 22.02 MnKgs.

Top oil exporter Saudi Arabia may cut prices for crude grades sold to Asia in June after benchmarks slumped from records in the previous month as COVID lockdowns curbed demand in China, the world’s biggest crude importer, traders said yesterday.

Social unrest, political uncertainty and a complex web of creditors could scupper Sri Lanka’s push for a swift overhaul of its US $ 12 billion overseas debt, analysts warn, saying the South Asian nation is fast running out of road.

Tourist arrivals for the first three weeks of April have declined significantly when compared to previous months, indicating that greater challenges are ahead for the tourism and hospitality sector.

Indonesia widened the scope of its export ban on raw materials for cooking oil to include crude and refined palm oil, its chief economic minister said on Wednesday, leaving markets in shock over the latest policy reversal.

Falling victim to the sudden float of the rupee, Sri Lanka’s poultry industry leader Ceylon Grain Elevators PLC (GRAN) faces a staggering Rs.2.75 billion in exchange losses.

Standard Chartered posted a forecast-beating 6 percent rise in first-quarter profit, sending its shares sharply higher, as the emerging-markets-focused lender benefited from rising interest rates aimed at controlling inflation.