Sri Lanka has cut its balance of payment (BoP) deficit, the balance between inflows and outflows from all its transactions with the rest of the world, after imports were suppressed through tight policies when the economy collapsed exhausting all its

Sri Lanka’s economy is expected to contract by 4.2 percent in 2023, after an estimated contraction of 9.2 percent in 2022, the World Bank (WB) shared in its latest projections.

The cost-of-living crisis will be the biggest global risk over the next two years, a survey by the World Economic Forum warned yesterday ahead of its Davos meeting next week.

Global growth is slowing “perilously close” to recession, the World Bank said Tuesday, slashing its 2023 economic forecast on high inflation, rising interest rates and Russia’s invasion of Ukraine.

The Cabinet nod has been granted to call for proposals from prospective investors to set up an export-oriented oil refinery in Hambantota.

Sri Lanka’s banks could receive some earnings relief from a likely cut in interest rates in 2023, as lower rates have the potential to deliver trading gains on the bond portfolio they hold and a slight improvement in their asset quality, which will

The Cabinet nod has been granted to call for expression of interest (EOI) from investors and strategic entrepreneurs to transform Mattala Rajapaksa International Airport (MRIA) into a multipurpose business centre, on a public-private partnership basi

The Treasury bill yields declined at the weekly auction held yesterday, continuing their weeks-long descent, although the prospects of an early economic recovery on the back of easing monetary policy remain elusive.

FACETS Sri Lanka Premier Edition concluded successfully at Cinnamon Grand Colombo on 09th January.

Dr. Ruchitha Perera, FCIM, Chartered Marketer (UK) has been elected to the Board of Directors of The Chartered Institute of Marketing,UK for a three-year term beginning December 2022. The appointment was announced at the Annual General Meeting held r

In continuation of adhering to its traditions and high standard of professional ethics, the Council of the Sri Lanka Economic Association (SLEA)

A new publication from the Institute of Policy Studies of Sri Lanka (IPS) finds strong evidence that tobacco farming is not a particularly lucrative enterprise for most smallholder tobacco farmers in Sri Lanka.

The Cabinet nod has been granted to further liberalise the country’s lubricant industry by calling for a fresh licensing round to allow new players to enter the market.

Hatton National Bank (HNB) won the coveted ‘Best Corporate Citizen Sustainability Award 2022’ at the nineteenth Best Corporate Citizen Sustainability Awards organised by the Ceylon Chamber of Commerce. Sampath Bank....

Courtyard by Marriott, part of Marriott Bonvoy’s extraordinary portfolio of 30 brands, yesterday announced the opening of Courtyard by Marriott Colombo, making it the first Courtyard...

The Cabinet nod has been granted to call for proposals from prospective investors to setup an export-oriented oil refinery in Hambantota. Minister of Power and Energy Kanchana....

The sharp decline in consumer goods imports, particularly non-food consumer goods last year reflected the extent to which consumer habits have been upended and how deep the people’s lifestyles have been....

The ASPI closed in red as a result of price losses in counters such as Melstacorp, Hayleys and Vallibel One with the turnover crossing Rs. 1.8 bn. A similar behaviour was witnessed...

With Cabinet of Ministers giving its nod to implement cost-reflective electricity tariffs from January, another substantial hike in electricity tariffs is imminent. Sri Lanka raised electricity tariffs by 75 percent....

In 2022, Sri Lanka faced its deepest ever economic and political crisis. The country’s descent into chaos accelerated from March, sweeping away high-level bureaucrats and political leaders held culpable....

The Federation of Chambers of Commerce and Industry of Sri Lanka (FCCISL) and Chamber of Tourism and Industry of Sri Lanka (CTISL) recently signed a memorandum of understanding (MOU) at a high-level....

Accomplished strategic management professional Ruminda Randeniya has been appointed as Chief Executive Officer of the parent company of Prime Group, Prime Lands (Pvt.) Ltd, with effect....

CICRA Campus has partnered with Melbourne Polytechnic, one of the largest TAFE providers in Australia, to deliver a Bachelor of Business pathway programmein Sri Lanka. The collaboration allows....

The pivot in the monetary policy towards cutting rates may not come as early as many would expect, as the Central Bank said it would remain tight as long as it takes to bring inflation down to meaningfully low levels from the current excessive levels

Sri Lanka continues to maintain the momentum in tourist arrivals witnessed over the last few weeks, as it welcomed over 20,000 international visitors in the first seven days of the new year.

Dr. Priyantha Wijayatunga, former Senior Professor of Electrical Engineering at the University of Moratuwa and founder Director General of the Public Utilities Commission of Sri Lanka (PUCSL), has been appointed as Senior Director, Energy, Sectors Gr

Sri Lanka’s wage growth eased in November, after months-long acceleration seen through October, perhaps in a reflection of the cooling price pressures in the economy in the last three months, although they still remain at exponentially high levels.

In the years before Covid, China was the world’s most important source of international travellers. Its 155 million tourists spent more than a quarter of a trillion dollars beyond its borders in 2019.

The stock market participants expect a continuous upside for earnings in 2023, although it comes as a mark down from last year’s levels, as corporates have been battling a host of challenges, including persistent foreign exchange shortages, soaring

Sri Lanka’s largest textile manufacturer, Hayleys Fabric, hosted its inaugural Sustainability Forum ‘Nature’, showcasing a new generation of home-grown innovations with the potential to enable greater circularity in fashion globally.