The Central Bank last week slashed Sri Lanka’s growth for this year from 6.0 percent to below 5.0 percent as virus restrictions are taking a massive toll on the economy with thousands of businesses going out of business, while many millions more wh

The remittance income from Sri Lankans working abroad has continued to plough ahead amid the brewing economic crisis at home as global economies are advancing with the ease of virus restrictions.

Sri Lanka lost nearly half a billion dollars in foreign exchange reserves in May, losing nearly the entirety of the loan proceeds received from the China Development Bank in April.

Malaysia Airlines will operate limited service with 85 percent reduction across its network during the Movement Control Order (MCO), from June 1 to 14, 2021.

US inflation surged in April from a year earlier as the economic recovery picked up.

The Colombo City Centre Residences project is the most celebrated living space in Colombo, especially during the prevailing conditions and circumstances in the country. The residents at Colombo City Centre (CCC) expressed that it is extremely conveni

The Sri Lanka Institute of Tourism and Hotel Management (SLITHM) has entered into a memorandum of understanding (MoU) with EHL Advisory Services Llp, to conduct a gap analysis study in Sri Lanka, with the aim to improve the quality of tourism educati

Switzerland could become the first European country to ban artificial pesticides in a June 13 referendum, which backers of the initiative hope will trigger similar prohibitions elsewhere.

An increasing number of children are at risk with global child labour figures expanding by 8.4 million within the last four years, the International Labour Organisation (ILO) warned.

Chairman of tourism-heavy Aitken Spence PLC, Harry Jayawardena called for a wage subsidy model from the government to safeguard the livelihoods of nearly half a million people employed in the leisure industry, which has been dealt a double whammy—f

Sri Lanka’s oldest non-bank financial institution (NBFI), Alliance Finance Company (AFC) PLC warns that the recent amendment with regard to the classification of non-performing loans (NPLs) in the NBFI sector would lead to a significant contraction

Virtusa Corporation, this week announced the appointment of Santosh Thomas as its new Chief Executive Officer (CEO).

Chinese Ambassador to Sri Lanka Qi Zhenhong, in his remarks to Sri Lanka Investment Forum has suggested Sri Lanka to create a better policy framework in order to attract foreign investments to the country.

The government called for greater support for the ongoing Port City development since it is acknowledged to be the key to Sri Lanka getting its macroeconomic fundamentals right.

The global crude oil prices have gradually passed the US$ 70 a barrel and are advancing further, worsening the external and economic crisis brewing in Sri Lanka.

At least two development finance institutions (DFI) have expressed interest in participating in Sanasa Development Bank’s (SDB bank) upcoming Rs.4.53 billion secondary public offering (SPO), which is likely to be the last capital raising endeavour

The Cabinet of Ministers this week approved a programme to beautify hundred cities, with the assistance of all state institutions and all other parties entrusted with the supply of infrastructure facilities.

The Cabinet of Ministers this week cleared a proposal to launch the organic fertiliser production pilot project across all Divisional Secretariat divisions in the North Central Province (NCP), drawing capital from the Land Reform Commission Fund, as

The country’s tourism sector is lobbying the government to get the interest component of their loans waived off during the period of moratorium, as the industry sees no light at the end of the tunnel with the latest round of restrictions imposed si

The Information and Communication Technology Agency (ICTA) expects the banking sector to boost lending to worthy tech companies by adopting the recently introduced Credit Evaluation Framework in their credit evaluation and approval process, when lend

A win-win situation it would be for investors who take the leap to set foot into Sri Lanka in its current juncture, the Board of Investment (BOI) said, since much emphasis has been given to create a compelling investment environment.

The government has reached a decision to withdraw from a joint memo presented to the Cabinet of Ministers to acquire 40 percent stake in Laugfs Terminal Limited, a fully owned subsidiary of Laugfs Gas PLC.

Listed corporates delivered their best ever earnings for the quarter ended March 2021 as the companies benefitted from the resurgent economy due to easing of restrictions, and exports grew at a robust pace, lifting multiple sectors barring a few such

The Cabinet of Ministers this week approved 42 amendments to the National Environmental Act (NEA) in order to give more teeth to the Central Environmental Authority (CEA) to effectively prevent widespread environmental damage in keeping up with recen

Sri Lanka welcomed nearly 1,500 tourists in the month of May, bringing the total number of arrivals for the first five months of the year to 15,294.

The Cabinet nod has been received to setup the country’s first dedicated Export Agro Value Chain Development Industrial Zone in a 64-acre land in Elpitiya.

Keeping health and wellbeing of industry stakeholders as its foremost priority, Sri Lanka Tourism has once again requested for a vaccination programme to be organized for tourism industry frontline personnel.

Prime Lands Residencies Limited PLC’s share, which began trading yesterday on the Colombo Stock Exchange closed Rs.1.50 or 12.42 percent higher than the issue price, amid much investor interest.

The Cabinet of Ministers has approved the long-awaited new Securities and Exchange Commission (SEC) bill to be published in the government gazette and is to be presented to the Parliament for approval.

Investors should not miss out on Sri Lanka’s “awesomeness” although the pandemic is in full play across the world, as significant opportunities exist in many economic sectors in the country that can provide tremendous returns to foreign and loc