CB has enough dollars to prevent rising dollar value

The value of the US dollar and the Sri Lanka Rupee is determined by the supply and demand. If the value of the dollar rises significantly, the Central Bank of Sri Lanka (CBSL) has sufficient dollars to control it, Finance State Minister Ranjith Siambalapitiya said.

Colombo Stock Exchange adopts two 1990 Suwa Seriya Ambulances

The Colombo Stock Exchange (CSE) has adopted two ambulances in a bid to support the 1990 Suwa Seriya Foundation’s ‘Adopt an Ambulance’ project.

Orion Developments signs US $ 1.78 Million agreement with BOI

Orion Development has signed US $ 1.78 million agreement with the Board of Investment (BOI) for the expansion of its IT Park, Orion City.

Central Bank joins chorus urging need to uphold reform momentum

Sri Lanka is facing mounting pressure to maintain its current reform momentum, as experts continue to warn that any deviation from the path could potentially derail the country’s progress and plunge it back into crisis.

No import of vehicles expected in near future - Vehicle Importers Association

While denouncing the false rumours regarding imminent vehicle importation, the Vehicle Importers Association of Sri Lanka (VIASL) clarified that no vehicles, including lightweight vehicles, will be imported within the current year or before the election.

Government planning four-stage vehicle import resumption

Following discussions with vehicle importers, the government is focused on resuming vehicle imports in four stages, Finance State Minister Ranjith Siyambalapitiya said.

Emirates reaffirms strategic cooperation with SLTPB

Underscoring Emirates’ commitment to boost tourism inflows across its network, the airline has reaffirmed its strategic cooperation with Sri Lanka Tourism Promotion Bureau.

Browns becomes world’s top tea exporter with Lipton partnership

Sri Lanka’s Browns emerges as the world’s top tea exporter, following a partnership agreement with Lipton Teas and Infusions.

Gross official reserves surpass US$ 5bn mark

Sri Lanka’s gross official reserves have continued to increase through the end of April topping the US$ 5.0 billion level for the first time since December 2020 when the country was coming out of the second wave of the virus outbreak.

EQT to acquire WSO2

Open source technology provider WSO2 announced on Friday that it has signed a definitive agreement to be acquired by EQT.

Tourist arrivals miss 200,000 mark in April

Sri Lanka tourism witnessed a drop in momentum in April with the number of international visitors falling below the 200,000....

Tourist arrivals could drop below two million this year amidst Visa fiasco: Stakeholders

Tourism Industry veterans cautioned that heightened confusion over the new visa system, along with the abrupt increase in visa fees, could derail 2.3 million tourist arrival target set for the year. This could potentially reduce arrivals below 2 million, while service providers stand to gain $50 million in fees.

Sri Lankan rupee has become one of fastest growing currencies in the world: Siyambalapitiya

The Sri Lankan rupee has now become one of the fastest-growing currencies in the world, Finance State Minister Ranjith Siyambalapitiya said.

Minimum Room Rate to end by May 31

The highly debated Minimum Room Rate (MRR), which has the tourism industry divided, would be removed the end of this month, Tourism Minister Harin Fernando confirmed.

Harin backs doing away with visas altogether for tourists

As the Cabinet is currently considering extending free visa travel to tourists from 67 countries, Tourism Minister Harin Fernando opined that Sri Lanka should consider doing away with visa altogether for tourists.

Laugfs gas prices reduced

Laugfs Gas PLC today announced a substantial reduction in the prices of its Laugfs-branded domestic liquefied petroleum gas (LPG), effective midnight.

Litro Gas prices reduced

The price of a 12.5 kg domestic Litro LP gas cylinder will reduced by Rs.175 from midnight today, Litro Gas said

Planters’ Association slams daily wage increase announcement

The Planters’ Association (PA) of Ceylon representing Regional Plantation Companies (RPC) is moving ahead to object to the Rs.1700 daily wage increase proposed for plantation workers, while asserting that a final decision is yet to be reached on the matter.

Worldwide smartphone shipments expand 10% YoY, Samsung regains global spot

The worldwide smartphone market has experienced a 10 per cent Year-on-Year (YoY) growth, reaching 296.2 million shipments in the first quarter (1Q24), according to the consultancy firm Canalys.

March exports reflect continued heft despite strengthening rupee

The growth in exports in March outstripped the increase in the expenditure for merchandise imports for the same month, as the exports of textiles and garments showed strength once again, after losing a bit of steam in the recent months.

JKH warns public about WhatsApp groups falsely using their name for scams

John Keells Holdings PLC has issued a cautionary notice to the public regarding WhatsApp groups falsely claiming affiliation with the company and some of its subsidiaries.

Daily wage for plantation workers increased

A gazette notification has been issued announcing the increase in the minimum daily wage of tea plantation workers to Rs. 1,700.

Cement price reduced by Rs. 50

Resulting from the fuel price revision from last night, the cement manufacturing companies have decided to reduce the retail price of a 50 kg bag of cement.

Tourism Minister to fix new visa system issues by May 7

Tourism Minister Harin Fernando has pledged to address technical issues of the new visa system by May 7. This comes amid concerns of potential losses of 230,000 tourist arrivals and US$ 425 million in tourism earnings for the year.

Colombo Consumer Price Index dips 0.8% in April despite festive demand

Colombo district prices have declined by 0.8 percent in April from a month ago. This was helped by the drop in both food and non-food prices in the month, in what appeared to be an idiosyncrasy as typically prices get a bump up during the festive month.

‘Serenade of the Seas’ makes maiden call at H’tota port

Cruise ship ‘Serenade of the Seas’ made her maiden call at the Hambantota International Port (HIP) this Monday (29).

Over 2,400 new private companies incorporated in March 2024

A total of 2,440 new private limited companies have been incorporated between 1 to 31 March, according to the Department of the Registrar of Companies.

Income tax payment methods limited

As per the recently issued gazette notification, the income tax payments can only be made using three methods.

Sri Lankans rich in financial knowledge but poor in practice: CB

The financial knowledge of Sri Lankans is at satisfactory levels when compared with the other countries but the island nation is lagging behind financial behaviour, the financial sector regulator, the Central Bank said.

Apparel sector revenue totals US$ 1.17 bn in 1Q24

Sri Lanka’s apparel industry saw its revenue cross the US$ 1 billion mark in the first quarter (1Q24) with exports expanding by 7.7 percent in March.