Fitch upgrades SL’s Long-Term Local-Currency IDR to ‘CCC-’ from ‘RD’

Fitch Ratings announced last week it has upgraded Sri Lanka’s Long-Term Local-Currency Issuer Default Rating (IDR) to ‘CCC-’ from ‘RD’ (Restricted Default). While the Country....

Soorya ignites New Generation Awards 2023

Sun Match Company’s flagship ‘Soorya’ is proud to announce sponsorship of the fourth New Generation Awards 2023, an initiative dedicated to celebrating the exceptional achievements of young individuals...

Dialog’s Sayuru-MEPA partner for ocean conservation, waste management awareness

Sayuru, powered by Dialog Axiata PLC, partnered with the Marine Environment Protection Authority (MEPA) on the World Ocean Day, in a shared mission to advance sustainable development initiatives...

Hayleys Fentons shines with highest number of awards at NPME 2023

Hayleys Fentons, with over a century of excellence in engineering and project management, proudly walked away with four accolades at the National Project Management Excellence Awards (NPME) 2023, securing....

CBL launches Munchee Rollz premium wafer

Sri Lanka’s favourite confectionary brand Munchee introduced Munchee Rollz exclusively at Cargills Food City, to provide a unique experience, which has not been explored before by a Sri Lankan confectionary...

Ceylon Biscuits enhances frontline agility and manufacturing efficiency with Microsoft Azure

Ceylon Biscuits Limited (CBL), recognised as a Sri Lankan confectionery and food manufacturing conglomerate, has taken the initiative to embrace new technologies and development methodologies...

Cost recovery electricity pricing?

The International Monetary Fund (IMF) agreement states to reduce the state enterprises making losses and to maintain cost recovery in electricity pricing. This would mean that the state enterprises should....

SriLankan Airlines partners with Virgin Australia and expands in Australia

SriLankan Airlines has entered into a first-ever interline partnership with Virgin Australia that will strengthen the airline’s network in Australia and offer customers extensive connections across the land down...

808 Regency sells 52% of inventory in one month

In a testament to its unwavering appeal and remarkable quality, 808 Regency has successfully sold an impressive 52 percent of its inventory in just one month. This milestone...

FPA appoints new Executive Director

Dr. Ruchitha Perera was appointed as Executive Director of the Family Planning Association of Sri Lanka (FPA), with effect from October 1, 2023. Announcing his appointment....

CMA Sri Lanka presents Awards of Excellence in Business Management

CMA Professional Excellence Awards were presented to several top accounting professionals, who have contributed to the accounting profession and excelled in their professional and business career. The awards were...

IMF unveils 16-point plan to address governance challenges in Sri Lanka

The International Monetary Fund (IMF) has recommended sixteen priority actions in its recently released Governance Diagnostic Assessment (GDA) on Sri Lanka to address systematic and severe governance....

Cabinet nod to set up National Debt Management Institute

The Cabinet of Ministers this week gave approval for the establishment of a National Debt Management Institute.

Hotelier says minimum meal rates imposed by govt. could hurt tourism industry

A local tourism industrialist stated that the government’s imposition of minimum meal rates for Sri Lankan hotels could be unrealistic and potentially has adverse effects on the tourism industry.

Inland Revenue Act to be amended to allow tax relief for charities focusing on wellbeing of children

The charity establishments that work towards the wellbeing of children will soon be provided with tax relief with the Cabinet of Ministers having approved this week the amendment of the Inland Revenue Act to accommodate the changes.

Some Sri Lanka creditors seeking debt restructuring deal minus China: Bloomberg

Some members on the committee of Sri Lanka’s official creditors are pushing to reach a deal to restructure the nation’s debt without....

Prez highlights need for well-established dispute resolution mechanism as SL looks to deepen trade integration

As Sri Lanka plans to join the Regional Comprehensive Economic Partnership (RCEP), President Ranil Wickremesinghe emphasised the....

Colombo district inflation decelerates to 1.3% in September

Headline inflation, as measured by the year-on-year (YoY) change in the Colombo Consumer Price Index (CCPI), decelerated to 1.3 percent....

WB reiterates its backing for Aswesuma benefits to be extended to 2mn families

Finance State Minister Shehan Semasinghe earlier this week held a meeting with Faris Hadad-Zervos, who serves as Country Director...

Sri Lanka looks to enter into US $ 200mn policy loan with ADB

Sri Lanka will enter into a loan agreement with the Asian Development Bank (ADB) for a policy loan amounting to US $ 200....

Indices gain 2% during the month

The ASPI closed in green as a result of price gains in counters such as Commercial Bank, Sampath Bank and C T Holdings...

Axiata Digital Labs unveils new offices in Indonesia and Malaysia

Axiata Digital Labs (ADL), the technology hub of Axiata Group Berhad, has announced the opening of two new offices in Indonesia...

Asia-Pacific’s emerging tech leaders under spotlight at ‘Seeds for the Future Summit’

In a collective move to fortify the digital skills pipeline, Huawei, the ASEAN Foundation, and the Southeast Asia Ministers ....

High level Sri Lankan delegation attends IFPSM World Summit in Italy

The World Summit of the International Federation of Purchasing and Supply Management (IFPSM), was held in Florence....

Perago poised to revolutionize premium living in Sri Lanka

Colombo this week witnessed the grand arrival of Perago, a premium furnishing retailer. The esteemed brand....

Jetwing Colombo Seven and USAID Sri Lanka lead way in green hospitality with solar EV charging

USAID Sri Lanka Energy Programme has collaborated with the Jetwing Colombo Seven, to usher in a new era of environmentally ....

Indonesian social security model inspires Sri Lanka’s ambitious reformation in social welfare

A high-profile delegation from Sri Lanka, led by Labour and Foreign Employment Ministry Secretary R.P.A. Wimalaweera, embarked on a four-day study tour to Indonesia, from September 4-7, 2023.

Thirty sponsors onboard to support CA Sri Lanka’s National Conference

The 44th National Conference, organised by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka), has received....

Exports top US$ 1bn in August, yet apparel sector slump continues

Despite total merchandise export income surpassing US$ 1 billion, the export lag persisted into August, primarily attributable to the lackluster performance of Sri Lanka’s largest industrial export sector, apparels & textiles.

Budget 2024 on November 13

Cabinet of ministers this week approved the draft Appropriation Bill for 2024, and President Ranil Wickremesinghe, who is also the Finance, Economic Stabilisation and National Policies Minister will deliver the budget on November 13.