NDTV: Reserve Bank of India (RBI) on Thursday issued a notification to initiate the US $ 500 million line of credit provided by India to Sri Lanka, which would enable it to buy petroleum products.

Clearing the confusion and uncertainty surrounding Monday’s Central Bank announcement on allowing a more flexible exchange rate and the behaviour of the domestic foreign exchange market in response to it, the Central Bank yesterday clearly indicate

Asian Development Bank (ADB) President Masatsugu Asakawa who is on a two-day visit to Sir Lanka met with President Gotabaya Rajapaksa yesterday and reaffirmed ADB’s support for Sri Lanka’s recovery path from the COVID-19 pandemic.

Sri Lankan shares surged over 6 percent to their best one-day percentage gain since 2006 after adjustments to spot exchange rate devalued the rupee further and boosted exporters.

Softlogic Holdings PLC has proposed to raise Rs.2.0 billion via rated commercial papers as the company looks to refinance most of its debt given its heavy debt reliance for expansion and acquisitions.

Sri Lanka’s fuel crisis will end soon with the government’s decision to purchase 225,000 MT of oil under 90-day credit lines sought from several countries, Energy Minister Gamini Lokuge told Parliament yesterday.

Dialog Axiata PLC, the first telecommunications service provider in the South Asian region to demonstrate 5G capabilities in 2018, announced the breakthrough achievement of becoming the first in South Asia to successfully trial the 5G Standalone (5G

Sri Lanka’s sudden devaluation of the local currency and imposition of import limits on hundreds of items is likely to disrupt value chains and push up consumer prices that are already sky high, analysts and retailers warned.

Sri Lankan born entrepreneur Ermila Jayasuriya-Curtis has made it to the list of FT 1000 Europe’s Fastest Growing Companies in 2022 for her award-winning brand ‘Winter in Venice’.

Private sector stakeholders of the tourism industry raised fresh concerns yesterday on the aggressive push by the regulatory body to bring in a new Tourism Act, which entails sections that are controversial and pave the way for poor transparency.

Standard Chartered is collaborating with global multi-dimensional women’s fund, Women Win, through its NGO partner in Sri Lanka, SERVE, to launch ‘Shaktheen’ – a women empowerment programme aimed to revive the livelihoods of working women in

Sandra De Zoysa, the first female Chairperson of SLASSCOM and Group Chief Customer Officer of Dialog Axiata PLC, was the recipient of National Vanitha Abhimana Award 2022 for the corporate and professional sector: information technology. The event wa

Satynmag.com, Sri Lanka’s leading women’s magazine in print since 1998 and totally online since 2013, has announced a global partnership with one of India’s most vibrant women entrepreneurship ecosystems, Catalyst for Women Entrepreneurship (CW

MAS Holdings paid tribute to the exceptional contributions of its female employees across multiple countries, recognising their inspirational performances in achieving excellence within the organisation and in their communities, at the company’s 14

Sri Lanka has limited imports of 367 non-essential items, including fish, footwear and wine, the finance ministry said yesterday as the South Asian country attempts to tackle its worst financial crisis in years.

The benchmark one-year Treasury bill rate surpassed 10.0 percent at the bill auction held yesterday, first time since the Central Bank raised its key policy rates last week, hitting more than a three-year high.

National carrier SriLankan Airlines said it would continue its routes to and from Russia while Western sanctions and geopolitics have made the Russian airspace turbulent.

U.S. President Joe Biden signed an executive order yesterday requiring the government to assess the risks and benefits of creating a central bank digital dollar, as well as other cryptocurrency issues, the White House said.

Determined to expand its global footprint, Softlogic Holdings PLC is actively looking to foray into Bangladesh across diverse sectors.

Sri Lanka’s forerunner in steel manufacturing and export, Ceylon Steel Corporation Limited (Lanwa), recently laid the foundation for two state-of-the-art production facilities for steel and roofing sheets, at the Lanwa Sanstha Industrial Precinct i

Sri Lanka’s painful decision to effectively devalue its currency this week could pave the way for the island nation to get help from the International Monetary Fund (IMF) as a US $ 1 billion debt payment looms in four months.

The fast progressing Colombo Port City will see the addition of an aquatic airport, Tourism Minister Prasanna Ranatunga said.

While the government yesterday announced that it would increase the incentive given to migrant worker dollars, the Central Bank has informed banks that it would discontinue the Rs.8.00 incentive offered for such inflows effective from March 9, 2022,

Cabinet approval was granted this week to establish a 11-member ‘Economic Council’ chaired by the President Gotabaya Rajapaksa with the objective to guide the country out of the on-going economic crisis, which has hit multiple sectors.

The Central Bank (CB) is expected to come up with more details on the new exchange rate policy today after deciding to “float” the rupee while issuing a “guidance” to maintain the currency at Rs.230 against the US dollar, according to the Cab

The U.S.-based temperature-controlled storage provider and Sri Lanka’s largest temperature controlled 3PL service provider Emergent Cold has secured a 4-acre land in Muthurajawela Industrial Zone belonging to Sri Lanka Land Development Corporation

Sri Lankan shares fell 4 percent to a near four-month low yesterday after the country’s Central Bank devalued the rupee in a move seen as a step towards securing an International Monetary Fund loan programme and help negotiate debt restructuring. L

The Ceylon Chamber of Commerce yesterday commended Central Bank Governor Ajith Nivard Cabraal and his team for permitting greater flexibility in the exchange rate and expects the move would significantly ease the shortage of dollars in the market.

Sri Lanka welcomed over 25,000 tourists in the first week of March, bringing the total number of arrivals to cross the 200,000 mark.

The government of the United Kingdom (UK) revised this week the travel advisory for its citizens entering Sri Lanka, and the update paints a grim picture of the island nation and the worsening economic situation.