Sri Lanka’s recent fuel hike will bring little or no benefits to the national economy, if the increase was carried out by the government to support the country’s balance sheet, a former economic advisor to the Indian Prime Minister said.

The Hambantota International Port Group (HIPG) has partnered with Shenzhen Xinji Group to set up a plug and play ‘Park in Park’ manufacturing facility within the port’s industrial zone.

R I L Property PLC this week said it completely divested its fully-owned subsidiary FoodBuzz (Private) Limited, the holder of BreadTalk franchise in Sri Lanka, to SS Equity Holdings (Pvt) Ltd. for a consideration of Rs.245 million.

The Sri Lankan rupee, which shed its value from Rs.189 to Rs.202 within a span of six months, could further plunge to between Rs.205 to Rs.215 against the US dollar by the year end, as the country is grappling with an impending external sector crisis

The Free Trade Zone Manufacturers Association (FTZMA) yesterday in a statement stressed the need for an urgent and short-term strategy to protect Sri Lanka’s market share in the EU, in a proactive manner.

The government is gearing to amend Sri Lanka Telecommunication Act No. 25 of 1991, to broaden the regulatory scope of the Telecommunication Regulatory Commission of Sri Lanka (TRCSL) beyond telecommunication to cater to the contemporary requirements.

The Cabinet nod has been received to include further revisions in the draft bill to amend Consumer Affairs Authority Act No.09 of 2003, to meet the present requirements by giving more teeth to the Consumer Affairs Authority (CAA).

The Cabinet of Ministers this week decided to import 100,000 metric tonnes of rice, as a tool to control the rising domestic rice prices, due to artificially inflated prices by the so-called ‘rice mafia’ in the country, despite a successful paddy

The Cabinet of Ministers this week approved several key measures to restructure the country’s duopoly liquefied petroleum gas (LPG) industry, in order to maintain the current LPG prices prescribed by the Consumer Affairs Authority (CAA).

The foreign holdings of government securities fell the most seen in a single week last week, as they sold the treasury bills and bond stock they held amid the worsening external and economic conditions here and due to the indications by the United St

Sri Lanka’s national consumer prices in May 2021 rose at the highest level since September 2020, as the food prices skyrocketed due to the supply chain bottlenecks caused by the lockdowns, eroding people’s purchasing power and making them poorer.

The economy has already shown deeper cracks from the business and job-crippling restrictions since the third week of April and the private sector credit became the latest casualty, as ICRA Lanka believes the momentum to have been severely affected du

The Central Bank was again forced to pump massive amounts of liquidity into the government, as the state coffers were running dry, since the authorities reimposed the business and job-killing restrictions, which generate tax incomes to the government

The interest rate could stay lower for longer than expected, as the economy battered by the virus-related restrictions will require increasingly more fiscal and monetary support at a time when the government’s revenue has come significantly under p

Sri Lankans who subscribed for new internet connections rose at a phenomenal speed during the year through March 2021 as the pandemic upended how people work,

Sri Lanka’s seafood industry could face a massive hit should the European Union (EU) withdraw the GSP Plus concession. However, stakeholders of the sector said they were getting prepared to “live without it”.

Despite various claims to the effect of readiness to provide fuel at a subsidised rate, the State Finance Minister, Ajith Nivard Cabraal said so far no one or no ministry had requested concessions for the parties affected by the increase in the fuel

The yields of Sri Lanka-issued International Sovereign Bonds (ISBs) jumped last week ahead of next month’s settlement of a billion dollar bond with the biggest increase seen in the bond maturing on July 27, 2021 as investors grow cautious of the co

Encouraged by recent financial performances, JAT Holdings, Sri Lanka’s market leader in the wood coatings sphere and latest listing applicant on the Colombo Stock Exchange (CSE) is moving ahead with plans to set up a new state-of-the-art R&D facili

In what could be the biggest travesty to-date, it transpired last week that the data compilers had provided misleading daily COVID-19 related death numbers to the country’s executive president prompting him to reverse the lockdown order removal on

The Colombo Stock Exchange (CSE) has announced changes in S&P Sri Lanka 20 index constituents made by S&P Dow Jones Indices at the 2021 mid-year index rebalance.

Following the X-press Pearl container vessel fire that started in May, the UK government is providing marine pollution expertise to help respond to the impact on the marine life and coastal habitats of Sri Lanka.

Dialog Axiata PLC, the first in Sri Lanka to launch an uptime Tier III-certified data centre, announced the launch of its latest fully-owned data centre in Piliyandala, built to the latest ISO and global data centre standards with the highest level o

Emirates is ramping up its operations and expanding services across its network to meet strong leisure travel demand over the summer, as entry restrictions ease for travellers.

The recently concluded Sri Lanka Investment Forum 2021 (SLIF 2021), organised by the Board of Investment (BOI), Ceylon Chamber of Commerce and Colombo Stock Exchange (CSE), facilitated one-to-one meetings between foreign investors and FDI project pro

Victoria’s Secret is considering bringing back a “re-imagined” version of its runway show as the lingerie giant embarks on a “dramatic shift” for the brand.

Shares of companies controlled by Indian billionaire Gautam Adani recorded their biggest weekly losses ever. The six stocks cumulatively lost 1.91 trillion Indian rupees (US $ 25.83 billion) of value over five days through yesterday.

Amidst the prolonged travel restrictions and recent spikes in COVID-19 cases, the President of the Association of Private Hospitals and Nursing Homes (APHNH) outlined the crucial role of the private sector in the national response to the pandemic, at

Several economic centres including the ones in Narahenpita and Bokundara opened yesterday.