Sri Lanka has declared an economic emergency, after a steep fall in the value of the South Asian country’s currency caused a spike in food prices.

Sri Lanka’s drive to become the world’s first 100 percent organic food producer threatens its prized tea industry and has triggered fears of a wider crop disaster that could deal a further blow to the beleaguered economy.

The government has approved a US$ 783 million aloe vera -based herbal medicine manufacturing project titled ‘Dry Zone Rural Economic Development Aloe Vera Project’ in the Anuradhapura District targeting exports.

As the government officially adopted the policy to meet 70 percent of the country’s electricity generation from renewable energy sources by 2030, the Cabinet nod has been given to call for proposals of Expression of Interests (EOIs) for solar and w

The global live streaming of the Kandy Esala Perahera that was facilitated by Sri Lanka Tourism this year reached nearly 16,000 viewers across the globe making the online promotion effort during the pandemic a success,

The Cabinet nod has been finally given to enter into an agreement with the International Bank for Reconstruction and Development (IBRD) of the World Bank (WB) to secure US$ 92 million funding for the phase one of revised Climate Resilience Multi-Phas

Sri Lankan shares ended at an all-time high yesterday, driven by gains in industrial shares.

Insurance companies added significant amount of assets into equities and unit trusts in a bid to beat lower yields from the government securities but the uptrend in the yields of the latter will largely enhance their profits predominantly via higher

Sri Lanka’s outstanding public debt rose by a little under Rs.1.5 trillion in the six months to June 2021 as the virus resurgence and the resulting restrictions pushed the country into further debt amid losing crucial tax revenues, debt repayments

Asian Development Bank (ADB) President Masatsugu Asakawa received unanimous support for a second term as ADB President from the members of ADB’s Board of Governors voting in the recently concluded election.

The Association of Chartered Certified Accountants (ACCA) Sri Lanka recently held its new member ceremony virtually, to celebrate the achievement of 225 new ACCA members attaining this milestone during the last two years.

The Institute of Certified Management Accountants of Sri Lanka (CMA) will conduct a webinar, free of charge, on ‘Embedding Priority UNSDGs in Corporate Strategy’, on Thursday, September 2, 2021, from 6:00 p.m. to 7:30 p.m., via online Zoom platfo

The Colombo Stock Exchange (CSE) has requested a root cause analysis from the system provider IronOne Technologies (Pvt.) Limited, regarding a disruption to the order management system provided to four stockbroker firms during trading yesterday, whic

Lakdhanavi Limited, Sri Lanka’s largest independent power producer (IPP), will continue to seek an equity partner to dispose up to 49 percent of its liquid natural gas (LNG) project titled ‘Sobhadanavi’, in a bid to reduce the leverage of the c

Indian ride-sharing giant Ola plans to raise up to US $ 1 billion through an initial public offering (IPO) and is finalising banks to advise on the fund-raise, three sources told Reuters, becoming the latest start-up to join the capital markets boom.

The Central Bank said it expects the economy to have recorded a double-digit growth during the second quarter ended in June, despite the virus-related restrictions took away much of its mojo, as the very low base effects during the same period last y

Dampening the gains made through March this year, Sri Lanka’s banking sector asset quality soured again during the April-June quarter, as broad-based payment holiday schemes came to an end while the economy went into a hibernation again with the vi

Sri Lanka’s one-year treasury yield widened the gap it had with the similar tenure bank fixed deposit rates, after the Central Bank last week raised the ceiling yield offered on the one-year treasuries, ahead of the weekly auction, a practice which

The Ambassador of South Korea to Sri Lanka Santhush Woojin Jeong paid a courtesy call on Finance Minister Basil Rajapaksa at the Finance Ministry recently.

The Sri Lanka Association for Software Services Companies (SLASSCOM) driven by their vision of generating US$ 5 billion in exports, creating 200,000 employment opportunities and 1,000 start-ups by the year 2025, recently launched the web portal www.s

The climate-tech startup Sustainability Labs has partnered with Good PR with the aim of introducing sustainability-based events & PR to the Sri Lankan market.

In an effort to support all players in the SME eco-system, the Ceylon Chamber of Commerce recently held a National SME Forum in collaboration with public, private and Non-Governmental sector organizations engaged in SME Sector development.

As part of its comprehensive and holistic employability offering, international education provider Study Group has introduced a new Quarantine Support Fund to help students study and work in the UK from September.

Despite a Central Bank policy rate cut and an ailing economy largely due to the fast-spreading COVID-19 pandemic, the Colombo Stock Exchange’s (CSE) market capitalization nearly touched the Rs.4 trillion mark last week amid markedly increased local

National telecommunications services provider, SLT-Mobitel has set the record straight on recent media reports claiming that the company managed the Lanka Government Cloud and provided services to the National Medicines Regulatory Authority (NMRA).

Credit to the private sector had continued to expand with vigour in July with little change from a month ago, underscoring Central Bank’s decision a fortnight ago to raise interest rates from record low levels, as it projected confidence over the c

Local confectioners and bakers received the Finance Ministry nod on Friday to import the required quantities of white sugar for the continuation of their industries, amid a massive spike in sugar prices in the local market due to the short supply of

The US central bank could begin withdrawing stimulus this year as the economy rebounds, the Federal Reserve’s chairman, Jerome Powell has said.

Recording its highest ever profit for a period of six months with a Profit Before Tax (PBT) of Rs.13.9 billion and a Profit After Tax (PAT) of Rs.11 billion, National Savings Bank (NSB) shows strength and financial resilience in performance amid the

LOLC with its robust MSME-based business model is expanding its global footprint with three parallel investments being made in Tajikistan in Central Asia as well as Malawi and Tanzania in East Africa.