The Cabinet of Ministers has cleared a proposal to borrow US $ 25 million from the International Bank for Reconstruction and Development (IBRD) of the World Bank to improve the efficiency and transparency of public institutions.

The Cabinet of Ministers has decided to further relax the rule on repatriation of export earnings by taking into consideration the appeals made by exporters, the Government Information Department said.

The Cabinet of Ministers has this week approved the setting up of a debt management bureau at the Finance Ministry, as a separate unit, the Government of Information Department said. At present, the country’s foreign and domestic debt are sold and

The Travel Agents Association of India (TAAI) is planning to host its Annual Convention in Sri Lanka later this year.

The global economy is in a synchronised slowdown and we are, once again, downgrading growth for 2019 to 3 percent, its slowest pace since the global financial crisis. Growth continues to be weakened by rising trade barriers and increasing geopolitica

When Rathinam Jenaka first began working at YARLCO, she was only allowed to boil the milk. As she stood stirring the pot, she would glance over to the other women on the factory floor.

The primary issue that arose at the plenary on ‘Promoting Innovation and Disruption in the Fourth Industrial Revolution (4IR)’, at the 12th South Asia Economic Summit (SAES XII), organised by the Institute of Policy Studies of Sri Lanka, was the

Chris Chelliah Group Vice President & Chief Architect, Cloud Platform, APAC, Japan & EMEA. He has more than 24 years of experience in the information systems industry; 20 of those years have been with Oracle across different portfolios in Asia Pacifi

(Washington) REUTERS: The U.S.-China trade war will cut 2019 global growth to its slowest pace since the 2008-2009 financial crisis, the International Monetary Fund warned yesterday, adding that the outlook could darken considerably if trade tensions

A test flight was competed yesterday from Chennai to Palali Airport, which is to be declared open as the Jaffna International Airport (JIA) tomorrow (17th). Indian aviation experts and specialists, who were on board the test flight, inspected the run

The Ceylon Chamber of Commerce (CCC) chief this week called the private sector to take the lead in breaking out of the middle income trap with positivity and greater focus on inclusivity, instead of waiting for the economic growth to return.

Sri Lanka’s manufacturing and services sector activities expanded in the month of September, albeit at a slower pace compared to August, according to the Central Bank’s SL Purchasing Managers’ Index (PMI). Manufacturing activities recorded a PM

(Colombo) REUTERS: Sri Lankan stocks ended weaker yesterday, snapping a run of seven straight gaining sessions to slip from a near six-week high hit in the previous session as investors booked profits. The rupee currency ended weaker. The benchmark

Land sales of the Colombo Port City is set to begin within the first half of next year with both government and the project company preparing to float the tenders for land plots, Mirror Business learns.

Sri Lanka’s government debt burden is weighing heavily on the economy in respect of mounting debt service payments – a problem aggravated by steep depreciation of the rupee against major foreign currencies. In terms of the year-end exchange rate

(Stockholm) REUTERS: U.S.-based economists Abhijit Banerjee, Esther Duflo and Michael Kremer won the 2019 Nobel Economics Prize yesterday for their work in fighting poverty that has helped millions of children around the world.

(Colombo) REUTERS: Sri Lankan stocks rose for the seventh straight session yesterday to hit a near six-week high as beverage and banking shares rallied. However, the rupee ended weaker.

New Democratic Front presidential candidate Sajith Premadasa last week pledged to formalise the private sector consultative process for scientific and rational economic policymaking, under a revamped administration.

Sri Lanka’s banking sector is urged to make a paradigm shift in export financing by moving away from the outdated practices in lending and risk management to support the country’s exporters to break into new export markets while venturing into ne

A memorandum of understanding (MoU) was signed on Sunday for Sri Lanka’s first cable car project, which is to be set up in Nuwara Eliya, targeting both local and foreign tourists.

All 35 presidential candidates need to address the ageing time bomb, which is facing Sri Lanka today.

In the run up to elections, Sri Lanka is once again witnessing various news activities highlighting how the government is losing revenue due to increased consumption of illicit cigarettes and beedi. However, the wider government policy on tobacco con

Sri Lanka’s imports, supported by lower vehicle and gold imports, continued to decline while exports largely recovered from its recent decline to see the island nation’s trade deficit narrowing in August, the trade data released by the Central Ba

Sri Lanka banking sector’s gross non-performing loans (NPLs) ratio is forecast to reach five percent at the end of this year, the highest level since 2014 amid increased market lending rates and sluggish economy, Central Bank (CB) said. According t

Sri Lankan cricketing legends Mahela Jayawardena and Kumar Sangakkara have come on board as Sri Lanka’s brand ambassadors for Expo 2020 Dubai to be held from October 20, 2020 to April 10, 2021, in the UAE. Both Mahela and Kumar,

Proparco, a subsidiary of the Agence Française de Développement (AFD) Group, dedicated to private sector financing, recently signed an agreement with Sri Lanka’s Commercial Bank of Ceylon PLC to support the island nation’s small and medium-size

ICRA Lanka has cut Nawaloka Hospitals PLC’s credit rating to BBB from BBB + citing the company’s deteriorating liquidity position and the increase in the gearing level amid weak financial performance in the most recent financial year. The rating

The 40th National Conference of Chartered Accountants organised by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) will be inaugurated today at Waters Edge, Battaramulla under the patronage of the Institute of Chartered Accountants

In its latest edition of the South Asia Economic Focus, the World Bank expects Sri Lanka’s economic growth to decelerate to 2.7 percent by the end this year from earlier forecast of 3.5 percent in June amid security challenges and political un

Sri Lanka is likely to launch its maiden US$ 500 million (60 billion yen) 10 -year Samurai bond next month prior to the presidential election. The Cabinet of Ministers last week approved the appointment of Mizuho Securities Company Ltd., SMBC Nikko S