The commendable performance of Sri Lankan exporters and the resilience shown during an unprecedented COVID-19 pandemic are to be rewarded by the Sri Lanka Export Development Board (EDB) of the Ministry of Trade, through a proposed export stimulus rew

Sri Lanka’s first ever homegrown electric bicycle made its debut last evening with local startup ‘Rhoda’ unveiling the first of the 50 ‘founder’s edition’ in Colombo.

In an effort to make Sri Lanka a high-income earning country within 100 years of Independence, the international development agency of the United States yesterday pledged its support launching the Sri Lanka@100 initiative that is expected to contribu

Banks have significantly increased their holdings in government securities (G-Secs) in recent times as loans haven’t kept pace with the surge in deposits, leaving massive amounts of excess liquidity, which otherwise would have gone into the hands o

After a lapse of 28 years, the Export Development Council (EDC) was convened under the patronage of President Gotabaya Rajapaksa and Prime Minister Mahinda Rajapaksa this week.

President Gotabaya Rajapaksa this week advised officials to divert both institutional and independent innovations to market production immediately, with the assistance of investors.

The government may possibly remove the current import restrictions gradually as and when the situation demands such a move, State Minister for Money and Capital Markets and State Enterprise Reforms Ajith Nivard Cabraal told Parliament yesterday.

Nawaloka Air Services (Pvt) Ltd, a subsidiary of Nawaloka Holdings has been appointed the General Sales Agent (GSA) for Maldivian Airlines in Sri Lanka for passenger and cargo, effective from September 15, 2020.

Asia Asset Finance PLC yesterday revealed plans to raise Rs.1 billion via debentures.

President Gotabaya Rajapaksa has appointed investment banker turned tech entrepreneur Jayamin Pelpola as a board member of the country’s apex investment promotion body, the Board of Investment (BOI) with immediate effect.

In Sri Lanka, employers are required to bear the full cost of providing maternity leave benefits (MLBs) to their employees for 12 weeks.

After months of empty beaches and deserted hotels in Maldives, tourism operator Ahmed Waheed says he is eager to help affluent travellers trade their COVID-19 masks for snorkeling or scuba gear.

Recent media reports cites the Tobacco Regulatory Authority making an overture to a ban on single sticks of cigarettes, stating it is a gateway to other narcotic drugs and continuous smoking. The proposal adds that retailers would only be allowed to

Battling bankruptcy amid the coronavirus crisis, Sri Lanka’s foreign employment agencies this week urged the government to extend the COVID-19 relief package granted to the tourism industry to them as well, to ensure the welfare of 1.5 million Sri

Sri Lanka’s private sector credit growth shrank three months consecutively, albeit the gap was seen narrowing each month until end-July but the rating agency ICRA Lanka offered reasons as to why the growth remained negative, although the gross loan

Guardian Capital Partners PLC (GCP) and its immediate parent Ceylon Guardian Investment Trust PLC (CGIT) — units of Carson Cumberbatch Group — yesterday said they had entered into a share sale and purchase agreement (SSPA) with Gazelle Asset Mana

Access Engineering PLC yesterday announced the appointment of Shamal Joseph Shavindra Perera to its board, as a Non-Executive Director, with immediate effect.

The Sri Lanka Tourism Promotion Bureau (SLTPB) has embarked on a fresh initiative to promote the island nation’s wildlife on a virtual platform.

The foreigners who will invest in rupee bonds will get a forex risk cover up to two years from the Central Bank, as the government is working towards wooing dollar investments into Treasury bills and bonds, in a bid to lessen the reliance on commerci

Sri Lanka Tourism Promotion Bureau (SLTPB) has embarked on a fresh initiative to promote the island nation’s wildlife on a virtual platform.

Access Engineering PLC today announced the appointment of Shamal Joseph Shavindra Perera to its board as a Non-Executive Director with immediate effect.

The transhipment container volumes at the Port of Colombo recovered to pre-pandemic levels in July, ending the declining trend recorded since March and leading to an overall recovery of container volumes, according to Central Bank data.

Sri Lanka’s raw rubber prices, which remained depressed for many years, could see a rebound from the current import controls in place for rubber-based products, enhancing prospects for plantation companies and smallholders alike.

The tourist accommodation owners, who have registered with the Sri Lanka Tourism Development Authority (SLTDA), will be given the opportunity to pay their electricity and water bills in instalments, beginning from September 1, 2020, Tourism Minister

Sri Lanka is targeting an economic growth of one percent, end of this year, as such a rate would push the country to the path of recovery, Money, Capital Markets and State Enterprise Reforms State Minister Ajith Nivard Cabraal told Parliament yesterd

The wages of the private sector gained in July led by the agriculture and services sectors, defying the expectations that the coronavirus-related economic damage could leave jobs and wages depressed for a prolonged period.

Distilleries Company of Sri Lanka PLC (DCSL), the country’s largest distiller with 60 percent market share in the alcoholic beverage market, reported revenues of Rs.14.6 billion for the April-June quarter (1Q21), compared to Rs.20.05 billion in the

Prices at national level trended up during August, as the prices of food items and to a lesser degree the prices of non-food items rose, albeit the average prices at the broader economy still remain largely benign.

The prime lending rate or the rate at which loans to prime customers of banks are priced, touched its lowest level last week, breaking its previous lowest five years ago.