Sri Lankans see real wages eroding by around 20% last year amid red-hot inflation

With an aim to broaden the tax base by enabling electronic payments coupled with mandatory reporting for state institutions, the government plans to bring in fresh amendments to Inland Revenue Act, No.24 of 2017 in Parliament for approval this Friday

The Cabinet nod has been granted to table the draft bill establishing a separate budget office at Parliament, for approval.

Sri Lanka plans to continue bilateral debt restructuring negotiations with the Paris Club creditors and India on a common platform and with China separately, without any prior conditions, in order to reach debt sustainability by restructuring the cou

DSI Samson Group, one of the leading business conglomerates and a leading manufacturer of footwear and bicycle tyres in Sri Lanka, ceremonially inducted President’s Counsel Uditha Egalahewa as Chairman of the group, on April 24, 2023.

LOLC Advance Technologies Private Limited (LOLC AT), a wholly-owned subsidiary of LOLC Holdings PLC and HydroGraph Clean Power Incorporation, a commercial manufacturer of high-quality graphene, have recently entered into a Letter of Intent (LOI) to c

Australian-based Intrepid Travel, the world’s largest adventure travel company, expects Sri Lanka’s adventure tourism market to rebound to pre-pandemic levels this year.

Sri Lanka’s real estate expert Research Intelligence Unit says Colombo city apartment (all 3 tiers) average prices in rupee terms increased marginally to Rs.62, 956 per Sq.ft in March from Rs. 62,635 per...

Global pioneers in sustainable integrated glove manufacturing, Dipped Products PLC (DPL), a subsidiary of the Hayleys Group, recently commenced commercial operations at its state-of-the-art manufacturing...

The highest ranking official from the China Merchants Group (CMG) visited the Hambantota International Port on an inspection tour of the facility last week. Chairman Miao Jianmin was welcomed...

First Republic Bank customers pulled more than US$100 billion (£80bn) from their accounts in the first three months of the year amid concerns about the health of the global banking system. The US bank....

Asian stocks were mostly down yesterday following a mixed session on Wall Street, with investors still casting about for direction at the start of a week of major announcements. Bourses in New York....

Cabinet of Ministers has approved a proposal to borrow US$ 150 million from the World Bank (WB) to strengthen the financial and institutional capacity of the country’s financial sector safety....

The ASPI closed in red as a result of price losses in counters such as Sampath Bank, Ceylon Tobacco Company and Expolanka Holdings with the turnover crossing Rs. 1.1 bn. A similar behaviour ....

Sri Lanka’s most innovative bank HNB PLC’s commitment to banking excellence and its resilient performance over the past year, helped to secure a Top 5 position on Business Today Top 40 for...

Bank of Ceylon (BOC) yet again set a record during Avurudu season with over Rs.174 billion worth transactions taking place in BOC’s very own CDM, CRM and ATM terminals. This record is a testimonial...

Ceylinco Life has opened its latest eco-friendly branch building in Matale on company-owned land, providing the picturesque hill country city a facility custom-designed to meet sustainability specifications ....

JCB International, the Japan-based international card scheme, partnered with LankaPay as the Silver Sponsor of the LankaPay Technnovation Awards 2023. Held at Shangri-la...

People’s Bank in collaboration with the International Finance Corporation (IFC) is working towards strengthening the financial awareness and financial literacy of micro, small and medium-sized enterprises....

SDB bank, a unique bank with a clear vision to bolster the local economy by providing customised banking solutions to SMEs and all progressive Sri Lankans, recently relocated its flagship City....

Al-Falaah Takaful Life, the alternate insurance services unit of LOLC Life Assurance Ltd, unveiled Family First Takaful Insurance, offering comprehensive financial protection for the entire family, as yet another...

The government will begin to provide relief to about two million families from July 1, under its welfare programme, with specific time frames, Finance State Minister Ranjith Siyambalapiriya said.

The tax collections by the Inland Revenue Department (IRD) rose by a record 216 percent year-on-year (YoY) to Rs.316.62 billion in the first quarter of this year, driven by the changes in the tax policy and gradual recovery of economic activities, ac

New Anthoney’s Farms (Private) Ltd recently deployed an additional processing plant as part of its production expansion strategy. With this, the company is able to produce over 200 tons of processed food products to cater to the evolving consumer p

Newly elected office bearers of Free Trade Zone Manufacturers’ Association (FTZMA) paid a courtesy call on BOI Chairman Dinesh Weerakkody at his office on April 21st.

Coin Ceylon, the pioneering blockchain company behind the very first Cardano stake pool and blockchain forum in Sri Lanka, recently presented ‘Yakka’, the 1st ever Cardano NFT Project to originate from Sri Lanka, with a groundbreaking collectio

The CFA Society Sri Lanka has announced that its signature event, the annual CFA Capital Market Awards, now in its 10th year, is scheduled to be held on June 21, at Cinnamon Grand, Colombo.

Sri Lanka tourism is on track to score a haul, with projections indicating that tourist arrivals for the month of April are on track to cross the 100,000 mark for the fourth consecutive month.