17 Apr 2024 - 2     - 1231

Government officials continued to sound upbeat in striking a deal with the bondholders, however, authorities this week failed to reach a consensus regarding the terms of restructuring.

13 Apr 2024 - 17     - 2972

The majority of the Katunayaka expressway section has been plunged into darkness this evening as the lamp posts have failed to function.

05 Apr 2024 - 3     - 649

It is essential for the reforms planned for the government owned entities to go ahead without further disruptions, else it is the general public that will continue to take on the burden, State Owned Enterprises Restructuring Unit (SOERU) Head Suresh Shah said.

03 Apr 2024 - 20     - 798

Sri Lanka has recovered faster than expected from the economic crisis it faced two years ago, however, the World Bank yesterday cautioned that this momentum might be lost due to a possible slowdown in the reform efforts as the island nation gears up for election this year.

07 Mar 2024 - 80     - 5678

The recent uproar over the Central Bank’s salary increases has caught widespread attention and according to Governor Dr. Nandalal Weerasinghe, this controversy is a deliberate attempt to undermine the institution’s autonomy.

07 Mar 2024 - 0     - 473

The International Monetary Fund (IMF) will kick off the second review under the Extended Fund Facility (EFF) programme today. According to Finance State Minister Shehan Semasinghe, the outcome of the review will be largely positive. “Nobody should doubt the release of the third tranche. The second review is going to be better than the first. We are confident about that. Sri Lanka has achieved much of the progress required and fulfilled majority

27 Feb 2024 - 31     - 6345

The tourism sector stakeholders yesterday confirmed that Sri Lanka is witnessing an increasing trend of international visitors engaging in business activities and warned that the industry, in certain parts of the country, is impacted as a result.

24 Jan 2024 - 7     - 834

In line with widespread predictions, the Central Bank opted to keep its key policy rates unchanged at 9 and 10 percent during its inaugural Monetary Policy announcement for the year.

17 Jan 2024 - 15     - 2927

Tourist arrivals to Sri Lanka crossed the 100,000 milestone within the first 15 days in January, signaling a remarkable spike in global interest in the island nation.

28 Dec 2023 - 6     - 1134

Procuring IT services and solutions is going to get expensive, with the Value Added Tax (VAT) coming into effect from January 1 and could create unfairness within the industry, the Sri Lanka Association for Software and Services Companies (SLASSCOM) cautioned.

22 Dec 2023 - 17     - 2329

As the government is leaving no stone unturned to increase tax revenue, experts in the field asserted that while doing away with Value Added Tax (VAT) exemptions is necessary, the authorities couldn’t have picked a worse time to implement the policy.

14 Dec 2023 - 4     - 1457

Sri Lanka is fast losing its rubber plantations to a fast-spreading airborne fungal disease, which is severely impacting the crop output.

08 Dec 2023 - 23     - 2698

Tourism Minister Harin Fernando this week signaled that the recently reintroduced Minimum Room Rate (MRR) for Colombo city hotels will not remain for long, and the industry is expected to operate based on market forces.

29 Nov 2023 - 21     - 2008

President Ranil Wickremesinghe delivered a stern message to Sri Lanka’s private sector last evening at an event organised by the Ceylon Chamber of Commerce, questioning the nation’s prolonged dependence on seeking assistance from other countries.

16 Nov 2023 - 0     - 1563

Sri Lanka’s apparel sector has no major hopes for export earnings reaching the US$6 billion level this year; however, it is striving to bag a bigger market share in its neighbouring giant, a top official of a leading apparel maker in the country said.

10 Nov 2023 - 7     - 3984

As Sri Lanka explores various avenues to enhance its tax revenue, it is likely that the country will opt for a property tax instead of implementing a comprehensive wealth tax, according to KPMG Sri Lanka.