Sri Lanka has come under the international spotlight once again for its unique tourism offering, but drawing attention this time round is the scenic city of Negombo.

The Employees’ Provident Fund (EPF) will be modernised going forward, the Central Bank said, with efforts underway for its operation to go almost paperless.

With effect from 1 January, persons who have not obtained a Taxpayer Identification Number (TIN) will be subjected to a penalty not exceeding Rs. 50,000, the Department of Inland Revenue cautioned.

The application process for the welfare scheme ‘Aswesuma’ will kick off towards the end of the month, the Finance Ministry said.

Entering the year with positivity, President Ranil Wickremesinghe said the government aims to achieve an economic growth of 3 percent in 2024, with a commitment to advancing even more rapidly.

With revisions to the Value Added Tax (VAT) coming into effect from 1 January, telecom giant Dialog Axiata has notified its consumers of the increases that will be seen in their monthly bills.

The World Bank today said it has released the US $ 250 second tranche of the US $ 500 million budget support loan for Sri Lanka that was approved in June 28, 2023.

Sri Lanka needs to enter into agreements with its official and private creditors before the second review of the Extended Fund Facility (EFF), which is expected to be concluded by the end of the first half of next year, IMF Senior Mission Chief for S

Sri Lanka and the country’s Official Creditor Committee (OCC) co-chaired by India, Japan and France as the Chair of the Paris Club have agreed on a debt restructuring deal, a statement issued by the Paris Club Secretariat said.

The Monetary Policy Board announced its decision to reduce the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank by 100 basis points (bps) to 9.00 percent and 10.00 percent.

Leading local spirits maker Distilleries Company of Sir Lanka PLC (DCSL) has entered into an agreement with Heineken International B.V. to acquire all its shares in Heineken Lanka Limited for an undisclosed price.

As part of efforts to enhance tax administration and implement revisions to tax policies, the submission of a Tax Identification Number (TIN) will become mandatory for actions such as opening a bank account or obtaining approval for a building plan.

President Ranil Wickremesinghe today justified the allocation of the Nuwara Eliya Post Office to the tourism industry.

Budget 2024 allocates Rs.3 billion to facilitate a digital economy by the year 2030.

As a primary step to improving Sri Lanka’s deeper connectivity with foreign trade and global markets, the budget 2024 proposes to eliminate non-tariff import taxes, including import CESS, Port, and Airport Levies.

Budget 2024 proposes to increase Sri Lanka’s debt ceiling by Rs.3, 450 billion to Rs. 7, 350 billion.

The budget 2024 proposes to divest 20 percent stake in the two largest state banks in the country.

The government is launching an experimental programme to revitalize the country’s construction sector.

Sri Lanka’s Small and Medium Enterprises (SMEs) will receive a fresh boost next year with the Budget 2024 entailing a proposal to help uplift businesses in that sector.

Super luxury passenger vessel M.V. Aida Bella, operated by Aida Cruises, Germany with 1,900 passengers and 730 crew on board will call at the Port of Colombo on the 9th of November 2023.

Sri Lanka’s Pekoe Trails won the Best Wider World Tourism Project organized by the British Guild of Travel Writers.

The Ministry of Power and Energy yesterday announced that solar customers of the Ceylon Electricity Board (CEB) and Lanka Electricity Company (LECO) will be allowed a one-time migration to different schemes.

The Colombo Stock Exchange (CSE) was yesterday informed that the Nepalese billionaire Binod Chaudhary’s CG Corp Group has completed the deal to acquire the majority stake of Union Bank of Colombo PLC.

IndiGo yesterday announced the introduction of new direct flights between Hyderabad and Colombo from 2 November.

Emirates and SriLankan Airlines have signed a reciprocal interline agreement to boost connectivity for passengers of both airlines. The partnership will enable access to new points on each other’s networks via Colombo and Dubai, utilising a single

The National Cricket Team of Bangladesh, popularly known as The Tigers, became the latest international cricket stars to fly SriLankan Airlines.

Saumitra Gupta has been appointed as the new Chief Executive Officer (Actg.) of Hutch Sri Lanka effective from 1st August 2023.

In an effort to bring fresh focus to Sri Lanka’s mineral resource industry, stakeholders of the sector today launched the Chamber of Mineral Exporters (CME) as a collaborative initiative.

The European Commission has proposed a four-year extension to the current GSP+ scheme until 31 Dec 2027, so that countries, such as Sri Lanka, do not lose their preferential access in the interim.

Sri Lanka and Nepal are currently exploring the possibility of having an exchange of high-level visits and business delegations, in an effort to firm up ties between the two countries, Minister of Foreign Affairs Ali Sabry said.