Vehicle registrations continued to languish in January, similar to that of last few months, as the government’s clamp down on vehicle imports, aimed at supporting the currency and the country’s foreign reserves position, persists.

Sri Lanka earned US $ 3.6 million from the tourism trade for the month of January, after opening its borders for international travellers on January 21.

With the economic activities and credit growth picking up pace, the Monetary Board of the Central Bank (CB) is likely to hold its key policy rates steady at their current levels, according to First Capital Research (FCR).

Leading supplier of renewable energy to the national grid Panasian Power PLC recently commissioned a 3MW ground solar plant in Matara, worth a total investment of Rs.420 million.

Vidullanka PLC yesterday said it completed the acquisition of a 51 percent stake in Orik Corporation Private Limited, which holds the rights and approvals to develop a 1MW ground-mounted solar power plant in Moneragala.

Despite the earlier objections from the private sector, the upper limit of compensation under the Termination of Employment of Workman Act (TEWA) has been increased from Rs.1.25 million to Rs.2.5 million, with effect from February 19, 2021, the Labou

Sri Lanka’s gem and jewellery industry says the US $ 1 billion export target set for the industry will be impossible to achieve, given the non-implementation of the polices that were approved by President Gotabaya Rajapaksa and endorsed by Prime Mi

The share of foreign debt in the government’s overall debt stock declined to 40 percent at the end of 2020 from over 48 percent at end 2019, under its innovative policy measures to service current debt obligations while reducing reliance on externa

Sri Lanka’s vehicle importers have called on the government to pay heed to their concerns, and stressed it is time to conceptualize a plan to rescue the automobile imports sector from collapsing.

Consumer prices in Colombo rose in February predominantly due to the increase in food prices, even amid the record rice harvest and surge in other domestic produce since the onset of the pandemic last year.

The Finance Ministry plans to complete the legislation of all tax proposals presented in the Budget 2021 including special goods and services tax (GST) as well as the one percent tax rate on previously undisclosed funds, when the new tax year begins

The Central Bank last week raised the loanable amount by licensed finance companies in respect of registered vehicles for more than one year after the first registration, as the finance companies are reeling from the tougher business climate compared

Colombo land prices continued their climb during the second half of 2020 as prices of lands used for residential, commercial and industrial purposes re-gained steam.

Ceylon Biscuits Limited won the coveted ‘Best Corporate Citizen Sustainability Award 2020’ an annual event organized by the Ceylon Chamber of Commerce, the country’s premier business chamber to recognise sustainable champions of the local corpo

Sri Lanka’s manufacturing firepower, measured by the industrial production, expanded in December as industrialists added more muscle into their factories and production lines to make up for the lost output when restrictions were re-imposed since Oc

Sri Lankan shares ended higher for a second straight session yesterday, helped by gains in industrial and financial stocks.

The Trade Related Assistance Project extended by the European Union (EU) to Sri Lanka came to a close this week after a successful four-year implementation programme.

The Central Bank yesterday announced the demise of Former Central Bank Deputy Governor C.J.P. Siriwardana.

The Central Bank of Sri Lanka commenced operations in August 1950 and completed 70 years of its unique and valued contribution to the prosperity of Sri Lanka.

With the recent events unfolding in Sri Lanka, it’s high time that corporate leaders and thought leaders of Sri Lankan society take a stand on the gender discrimination happening right before our very eyes. The white elephant in the room is conveni

While acknowledging Sri Lanka has to undergo a period of austerity under the government’s alternative policy approach to break out from the debt trap, the Central Bank (CB) suspects a possible link between the recently published “damaging reports

Commercial Bank of Ceylon PLC returned to its pre-pandemic performance in the three months to December 31, 2020 (4Q20), indicating that the country’s largest private lender is ready to look past the pandemic.

After the exporters were asked to convert 25 percent of their dollar proceeds into rupees immediately after receiving them, the licensed banks are required to sell 50 percent of those foreign currency proceeds back to the Central Bank.

Sri Lankan shares rose yesterday after two straight sessions of declines, boosted by consumer and industrial stocks, after the Central Bank governor sought to alleviate fears that the island nation could default on its debt servicing obligations.

ICRA Lanka Limited said that it expects the government revenue, which took a battering during 2020, predominantly due to the pandemic-related disruptions and partially due to the generous tax cuts, would return to normalcy by the start of the second

Meanwhile in a statement yesterday, the Central Bank explained why the recent repatriation and conversion of export proceeds measures are needed.

Higher credit costs on account of possible loan defaults, modest business volumes amid faster re-pricing of the asset base compared to the liabilities in a declining interest rate regime, dragged down Seylan Bank PLC’s December quarter (4Q20) profi

The Cabinet of Ministers this week granted approval to establish a high-level ‘Investment Management Committee’ to facilitate upcoming investment projects of globally recognised investors in the country on a priority basis, in a bid to further en

Individuals and organisations stockpiled cash during 2020 as they set aside large sums of money in bank accounts, most likely due to lack of spending opportunities and the inclination to hold on to the cash available during a time of crisis.

Cabinet nod has been granted to expand the industrial zone in Kalutara by absorbing a crown land plot of 1.946 hectares adjoining zone to meet the growing demand of industrialists for land in the Western Province.