The credit card balance, a distant proxy for consumer spending, bucked the recent trend to show a decline in January, reflecting some pullback in spending amid higher interest rates and inflation.

Sri Lanka is negotiating with the International Finance Corporation (IFC), a member of the World Bank Group, to seek its service as transaction advisor for the sale of the government’s stakes in several state-owned enterprises (SOEs).

Sri Lanka’s automobile industry is requesting the government to consider a quota system for vehicle imports for its survival and the livelihoods of over 100,000 people, who are directly or indirectly employed by it.

The Treasury bill yields continued to ease, extending their months-long descent, reflecting that the government securities yields, which rose to extreme high levels, had more room to run their downward course before a pivot in the monetary policy.

The Sri Lankan companies that are currently exporting and are looking to export to the European Union (EU) will have to step up their efforts in adhering to environmental protection practices, as they are being made a key requirement for trade.

The fourth round of negotiations on the proposed Sri Lanka-Thailand Free Trade Agreement (SLTFTA), which is to be signed next year, concluded yesterday.

The Central Bank yesterday reiterated the risks of using and investing in cryptocurrency, considering the recent public inquiries and the developments observed relating to cryptocurrencies, which are also commonly referred to as ‘crypto’.

Dilmah Tea is threatening to pull its popular products from the supermarket shelves in Australia amid a bitter price dispute with Coles and Woolworths, Australian media reports said.

Japanese Ambassador to Sri Lanka Hideaki Mizukoshi yesterday said a decision has not yet been made on reviving the Japan International Cooperation Agency (JICA)-funded US $ 2.2 billion Light Rail Transit (LRT) project, stretching from Colombo Fort to

The Sri Lanka Veterinary Association (SLVA) yesterday emphasised strict adherence to protocols for imported eggs and commends the Department of Animal Production and Health (DAPH) for its efforts to safeguard the health of citizens, before releasing

The Cabinet has cleared path for Ceylon Electricity Board (CEB) to develop a 135 MW solar power project in Sampur, Trincomalee jointly with India’s National Thermal Power Corporation (NTPC) at an estimated investment of US$ 180.1 million.

CA Sri Lanka is organising a CEO discussion forum called “Economic Dialogue - IMF and Beyond” to facilitate a productive conversation among key stakeholders, including business

The Cabinet nod has been granted to call for fresh tender to procure an estimated 2.25 million MT of coal required for Lakvijaya coal power plant in Norochcholai for the term 2023/2024 under the government procurement process.

The proposed new refinery in Hambantota has received Expressions of Interest (EOIs) from seven companies, the Power and Energy Ministry shared yesterday.

The government’s plan to sell 49.5 percent stake in Sri Lanka Telecom PLC held by the Treasury will take at least 8 to 12 months, Fitch Ratings said yesterday. In a new rating report....

China has handed out US$240 billion worth of bailout loans to 22 developing countries at risk of default over the past two decades, with the trend accelerating in recent years, a report said yesterday. Almost...

The Cabinet of Ministers this week approved a proposal to establish a road maintenance fund with an initial capital infusion of Rs.100 million and to charge an annual fee per vehicle. Minister Transport...

As part of the group’s internal restructuring of financial services, LOLC Group yesterday announced the transfer of LOLC Asset Holdings Limited (LAHL), a fully owned subsidiary of LOLC Holdings PLC...

FitsAir, Sri Lanka’s first privately-owned international airline has increased the frequency of its flights to and from Colombo to Dubai to daily. The daily services between the two destinations began...

The ASPI closed in red as a result of price losses in counters such as Vallibel One, John Keells Holdings and Hatton National Bank with the turnover crossing Rs. 861 mn. A similar behaviour....

The students of the London College of Fashion (LCF), University of the Arts London (UAL), recently presented their groundbreaking use of blockchain technology in a handloom craft showcase in collaboration....

Premier industrial solutions provider Hayleys Aventura recently announced the expansion of its material handling and storage solutions portfolio, with the consolidation of its global partner network, enabling Sri Lankan...

The USA-based Business World International Organisation recently awarded its Lifetime Achievers Award to HelpAge Sri Lanka Chairman Deshabandu Tilak de Zoysa, who is a world-renowned business....

Sri Lankan men’s accessories start-up MOZ has launched a premium neckwear range made from hand-woven (handloom) fabrics. The MOZ Heritage neckties....

Marking another milestone in its 50-year journey of excellence in Sri Lanka, Noritake Lanka Porcelain (Pvt.) Ltd (NLPL) obtained the ISO 14064-1:2018-accredited GHG Carbon Footprint Verification. At an event...

Health Gold Fortified Rice, manufactured by Fortigrains Lanka Private Limited, a fully-owned subsidiary of LOLC Advanced Technologies (Pvt.) Ltd, is the only rice fortification plant in Sri Lanka to have...

Lihini Seafoods, Sri Lanka’s award-winning seafood exporter with over two decades of experience, has officially launched its Lihini Frozen Range of products at selected Laugfs supermarkets, giving....

Sri Lanka is expecting to obtain around US $ 1.36 billion funds from major multilateral agencies, including the International Monetary Fund (IMF), World Bank and Asian Development Bank (ADB), this year.

The local ICT sector said it is gearing up for greater investment interest, in alignment with President Ranil Wickremesinghe categorising the industry as a key tradable service for Sri Lanka.

In an effort to expand the reach of the small and medium enterprises (SMEs), including the women-owned small businesses, the International Finance Corporation (IFC) announced its support to Commercial Bank of Ceylon to launch a digital marketplace in