Sri Lanka records over 77,000 tourist arrivals in first 22 days of October

In the first 22 days of October, Sri Lanka welcomed 77,763 tourists, bringing the year-to-date total to 1,094,019, according to provisional data from the Sri Lanka Tourism Development Authority (SLTDA).

Cabinet greenlights measures to bolster tourism

The Ministry of Tourism, in its recent efforts to boost international tourism to Sri Lanka, received a series of approvals from the Cabinet of Ministers this week.

Between homefront policies and global developments: SL’s external sector outlook

Having weathered a challenging period marked by a deep economic crisis, Sri Lanka is now demonstrating positive signs ....

Apparel exports decline drives down Sept. export earnings below US$ 1bn

Sri Lanka’s export performance continues to remain overshadowed by declining apparel exports, with merchandise export income in September plummeting by 12 percent year-on-year (YoY) to US$ 951.5 million, marking the first time it has fallen below the US$ 1 billion mark in four months.

Govt. seeks investors for floating solar plant on Samanalawewa reservoir

The Cabinet of Ministers has granted approval for a proposal presented by Minister of Power and Energy Kanchana Wijesekera....

IRD introduces initiative to refund advance income tax of senior citizens

The Inland Revenue Department (IRD) this week announced a programme to refund advance income tax that has been deducted ...

Cabinet clears way for female employees in night shifts

The Cabinet of Ministers this week approved an amendment to the Shop and Office Employees (Regulation of Employment....

Norway says sovereign fund loses US$ 34 bn in third quarter

Norway’s sovereign wealth fund saw a negative return of 2.2 percent in the third quarter, the country’s central bank said yesterday....

Access International partners with Enterprise Analytics to implement Acumatica cloud ERP

Enterprise Analytics (EA), a leading Sri Lankan IFS and Acumatica partner with offices across the globe, has been chosen by Access....

HitFlix enables Sri Lankan content via world-famous platforms

SLT-Mobitel, Sri Lanka’s national ICT solutions provider, is taking a historic leap into the global entertainment landscape by introducing HitFlix....

Dialog Enterprise recognised as Emerging Partner of CrowdStrike in Sri Lanka

Dialog Enterprise, the corporate ICT solution arm of Dialog Axiata PLC, bagged the Emerging Partner award from CrowdStrike, a leading....

Oppo unveils A78 series with 67W SUPERVOOC flash charge

Oppo Sri Lanka in partnership with Abans unveils the latest addition to the A series family of smartphones, the Oppo A78 ...

Crossings drive turnover

Indices closed in red as a result of price losses in counters such as Sampath Bank, Commercial Bank and National Development Bank....

ADB to provide US$ 100mn to fund Lankan SMEs

The government said yesterday the Asian Development Bank (ADB) has agreed to provide US$ 100 million in funding to launch a project to support Sri Lanka’s small and medium-sized enterprises (SMEs).

Beedi leaf import duty slashed from Rs.5,000 to Rs.250

The import duty of Rs. 5,000 charged for one kilo of imported beedi leaves has been reduced to Rs. 250, Finance State Minister Ranjith Siyambalapitiya said.

National inflation decelerates to 0.8% in September

Sri Lanka’s national inflation rose 0.8 percent in September on a year-on-year basis (YoY), decelerating from 2.1 percent in August, as food prices declined and non-food prices rose at a slower pace.

Teejay knits new 5-year partnership with University of Sri Jayawardenepura

Sri Lanka’s first multinational textile manufacturer Teejay Lanka PLC has expanded its collaboration with academia by entering into a partnership with the University of Sri Jayawardenepura (USJ), the country’s second oldest university. A five-year Memorandum of Understanding formalised by the two organisations paves the way for creating mutually beneficial opportunities for collaboration in training, research, employment generation and greater a

Vaxxinova International BV appoints Dymec Ceylon as Exclusive Distributor for Sri Lanka

Vaxxinova International BV, a global leader in the manufacturing of animal vaccine products, has appointed Dymec Ceylon Pvt Ltd, a prominent player in the veterinary pharmaceutical industry in Sri Lanka, as its exclusive distributor for marketing and distributing vaccine products in the Sri Lankan market. The official announcement of this dealership took place during a product launch event held in Colombo, where it garnered the attention of seni

CA Sri Lanka produces 343 new Chartered Accountants

The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) once again empowered the corporate world by ushering in 343 new Chartered Accountants, who will chart the course of the ever-evolving corporate landscape, armed with their versatile and diverse skills and expertise. At the Annual Convocation 2023 of CA Sri Lanka on 19th October, a total of 343 were conferred with the distinguished Associate Chartered Accountant (ACA) designation,

Banking with Purpose: HNB’s Blueprint for a Sustainable Sri Lanka

While the devastating impact of last year’s economic crisis continues to reverberate across the nation, a triple planetary crisis – climate change, pollution and biodiversity loss – looms larger still over Sri Lanka. From the establishment of HNB to the present day, the world got 1.1 degrees Celsius warmer. That leaves the world with just 0.4°C left of warming before it hits 1.5°C, beyond which the likelihood of catastrophic climate impacts incre

CEB restructuring bill likely to reach Cabinet next week

Sri Lanka’s proposed power sector reforms may reach the Cabinet of Ministers by next week, as the Attorney General is expected to clear the bill to restructure the Ceylon Electricity Board (CEB) this week, Power and Energy Minister Kanchana Wijesekera said yesterday.

Lanka Ventures makes strategic investment in biomedical start-up

Lanka Ventures PLC, a prominent Sri Lankan investment firm, has announced a strategic investment in Jendo Innovations, a cutting-edge biomedical engineering start-up based in Sri Lanka. Jendo Innovations has pioneered a revolutionary medical device designed to advance the early diagnosis of vascular diseases and this significant investment is poised to propel its innovation into the global healthcare market. Jendo Innovations’ groundbreaking

US unveils tech hubs to push innovation

AFP: The United States unveiled yesterday a list of 31 tech hubs that it will create as part of the vast investment scheme that President Joe Biden hopes will help him win reelection. Commerce Secretary Gina Raimondo said these centers will create jobs and boost both national security and the economy. These investments, she said, “further underpin our ability to compete, and frankly, outcompete the rest of the world.” The hubs were chosen from a

EDB kicks off revitalisation of 2018-2022 National Export Strategy

The Export Development Board (EDB) yesterday announced it has initiated the process of revitalising its existing National Export Strategy 2018-2022, to assist in the country’s journey towards economic advancement. Spearheaded by the EDB, the effort is carried out in collaboration with the Investment Promotion Ministry and with technical support from the International Trade Centre (ITC) based in Geneva. The commitment towards the revitalisation o

Alipay+ partners LankaPay to enhance digital travel experience to and from Sri Lanka

Alipay+ recently signed an MoU with Sri Lanka’s national payment network LankaPay towards enhancing inbound and outbound travel experience through cross-border digital payments, enabling users of Alipay+ payment partners to make payments seamlessly at over 400,000 LankaQR merchants across Sri Lanka. The partnership will also enable Sri Lankans to use their LankaQR-enabled apps to scan and pay at Alipay+ merchants globally when traveling overseas.

President meets BYD Company top executives

President Ranil Wickremesinghe and Transport and Highways Minister Bandula Gunawardana during their visit to Beijing engaged in discussions with top executives from China’s BYD Company...

China restricts exports of graphite as it escalates global tech war

China has unveiled plans to restrict exports of graphite — a mineral crucial to the manufacture of batteries for electric vehicles (EVs) — on national security grounds, the Ministry of Commerce...

IMF identifies proposed property tax as key additional revenue source for govt. in 2025

The International Monetary Fund (IMF) expects a property and inheritance tax that is currently in the planning will be a key source of additional revenue for the government in the year...

Sri Lanka to use IMF second tranche to settle loans with multilateral creditors

Sri Lanka plans to utilise the International Monetary Fund’s (IMF) second tranche of the Extended Fund Facility (EFF) for settling arrears owed to multilateral creditors and accelerating....

Fitch affirms Lion Brewery National Long Term Rating at ‘AAA(lka)’ with Stable outlook despite potential decline in sales

Fitch Ratings has affirmed Sri Lanka-based Lion Brewery (Ceylon) PLC’s National Long Term Rating at ‘AAA(lka)’. The Outlook is Stable. The affirmation....