Successive Sri Lankan governments have pumped in a colossal Rs.1, 150 billion for the upkeep of the strategically-important State-owned Enterprises (SOEs) up to 2017, the Finance and Mass Media Ministry Secretary Dr.R.H.S. Samaratunga said.  He

Dr. Dinusha Panditaratne was recently appointed as an Advisor to Verité Research. 

The government may need to re-evaluate the effectiveness of the recently introduced targeted capital allowances under the new Inland Revenue Act that replaced the tax holidays to attract both local and foreign investments, Vallibel One PLC Chairman a

The Hayleys group long-timer Sarath Ganegoda has been appointed as the acting Managing Director of Dipped Products PLC, a Hayleys group subsidiary, effective from July 1, 2018. Ganegoda was appointed to the board of directors of Hayleys in September

Buoyed by higher tourist arrivals from India and China, Sri Lanka’s total tourist arrivals during the month of June rose 19 percent year-on-year (YoY) to 146,828, the data released by the country’s tourism office showed.

Private borrowings have shown some respite in recent months as such borrowings from the banking sector have moderated substantially during April and May, after the spike seen in the month before. 

Sri Lanka is to borrow 100 billion yen (approximately US $ 936 million) from Japan’s MUFJ Bank to construct a 32.5km distance of the Central Highway from Potuhera to Galagedara, under the phase three of the highway project. 

The government has decided to award a 10 MW solar power plant contract to Didul (Pvt.) Ltd. A proposal by Power and Renewable Energy Minister Ranjith Siyambalapitiya in this regard has been approved by the Cabinet this week. 

(Colombo) REUTERS: Sri Lankan shares extended losses yesterday to hit their lowest close in more than 15 months as continued foreign selling in blue-chip stocks dampened sentiment.

In the year 2017, the global flows of foreign direct investment (FDI) dropped by 23 percent, in spite of the growth recorded on the macroeconomic aspects and trade. On an overall basis, there is a substantial drop in the return on FDIs, over the last

Sri Lanka is to set up a committee of experts to study the possibility of sharing the infrastructure facilities for the deployment of high-speed broadband services and electricity in a bid to fast-track the digitization of the country. 

There seems to be a big hoo-ha and a ding-dong going on in the media in the last few days, about Chinese investments in Sri Lanka. The primary cause for this appears to be the recent New York Times article, which pointed towards the Rajapaksas gettin

(Colombo) REUTERS: Sri Lanka’s Central Bank is likely to keep key interest rates unchanged at its policy review on Friday but a rate hike cannot be ruled out as the authorities struggle to ease depreciation pressure on the rupee currency. 

The Bangladeshi government blamed Sri Lanka’s “unstable political situation” for the slow progress in the proposed Sri Lanka-Bangladesh Free Trade Agreement (SLBFTA). 

(Colombo) REUTERS: Sri Lankan shares extended falls yesterday to a 15-month closing low as continued foreign selling in blue chips, political uncertainty and concerns about lower economic g

President Maithripala Sirisena yesterday directed the Cabinet to delay the final decision on the controversial tender for 300 MW Kerawalapitiya LNG power plant until the Supreme Court’s verdict on a f

(Colombo) REUTERS: The Sri Lankan rupee edged lower for a second straight session yesterday in moderate trade, as importer dollar demand outpaced inflows from inward remittances, while a State bank helped ease downward pressure by selling the U.S. cu

Listed brush maker, BPPL Holdings PLC said it has invested Rs.180 million in a new monofilament extrusion plant, which is expected to be commissioned by July/August this year.

Sri Lanka’s total outstanding external debt stock has increased by 23.3 percent year-on-year (YoY) to US $ 31.6 billion at the end of April this year, compared to US $ 25.61 billion at the end of April 2017, according to 2018 Mid-Year Fiscal Po

The asset quality of the non-bank finance sector is not something which often comes to the fore or commented on. But with the economic conditions getting tougher, it is slowly coming into the spotlight. 

Commercial Bank of Ceylon PLC has announced the appointments of Sivakrishnarajah Renganathan and Sanath Manatunge, two career bankers, who have served the bank for 37 years and 29 years, respectively, as Managing Director and Chief Operating Officer,

(Colombo) REUTERS: Sri Lankan shares fell over one percent yesterday, the sharpest in nearly 28 months, as continued foreign selling and concerns about lower economic growth hurt sentiment, stockbrokers said.

Sri Lanka’s largest brewery, Lion Brewery (Ceylon) PLC, has urged the government to restore the concessionary rate of income tax on its export profits.

Asian countries have traditionally enjoyed large demographic dividends—i.e. increases in labour supply and savings—that have boosted economic growth. But this decade, the share of working-age population, most notably in the People’s

Ceylon Petroleum Corporation (CPC) yesterday unveiled the country’s first Euro-spec fuel dispenser and launched European Emission Standard Euro 4 fuel, at a launch ceremony held at C.F. De Mel & Sons Filling Station, in Colombo 2.

(Colombo) REUTERS: The Sri Lankan rupee closed slightly weaker yesterday in dull trade as thin dollar demand from importers and banks outpaced little inflows from inward remittances, dealers said. The rupee ended at 158.35/45 per dollar, compared wit

Cyber risk has emerged as a significant threat to the financial system. An International Monetary Fund (IMF) staff modelling exercise estimates that the average annual losses to financial institutions from cyberattacks could reach a few hundred billi

On June 19, Advocata Institute and Echelon Magazine’s Think series hosted Singaporean economist Razeen Sally at the Sri Lanka Foundation Institute to speak on ‘Capitalism in Asia and what it means for Sri Lanka’. 

Shortages of labour, land and an ageing population mean that Sri Lanka’s opportunities for rapid catch-up growth are diminishing and institutional transformation is needed for innovation and output-led growth, a top economist has said.

Property development and hospitality holding company Ascot Holdings PLC is to raise Rs.632.8 million through a rights issue, subject to shareholder and stock exchange approval, the company announced last Friday.