Apparel industry to lose US $ 494mn if GSP Plus withdrawn: JAAF

Sri Lanka’s apparel sector would face a major setback if it fails to renew the GSP Plus tariff concession from the European Union (EU), the Joint Apparel Association Forum (JAAF) cautioned, as the collective loss for the industry would amount to about US $ 494 million in exports.

India’s first cruise ship to SL sets sail from Chennai

India’s first cruise ship to Sri Lanka was flagged off from Chennai Port yesterday (June 5), Indian media reported.

Tourism Alliance destination consumer marketing campaign reaches new heights

The Sri Lanka Tourism Alliance (SLTA) launched its mini destination consumer marketing campaign ‘Fall in Love Again’ in October 2022.

Sysco LABS reaches another milestone in strengthening Sri Lanka’s IT talent pool

Sysco LABS successfully concluded another cycle of the ‘Industry Reconnaissance & Engagement Programme’ in partnership with the University of Moratuwa recently.

hSenidBiz appoints new Vice President for PeoplesHR Global Sales

hSenid Business Solutions PLC, the founding company of HRIS (Human Resource Information System), PeoplesHR recently appointed Luxsho Logan as their Vice President – Global Sales.

SLASSCOM to hold ‘EmTech Conference 2023’

In today’s fast-paced landscape, understanding and embracing emerging technologies is not a luxury but a necessity. Recognizing this, SLASSCOM is excited to announce the return of the EmTech Conference for its second year.

Unruly air passenger incidents on the rise: IATA

A new analysis by International Air Transport Association (IATA) released this week showed that post-pandemic, unruly passenger incidents are on the rise.

Govt. likely to review 5-year no-pay leave scheme for public employees to work abroad

The government is likely to review the decision granting public sector employees to work abroad for a five-year period, with the best performing employees in the public service leaving the country under the scheme potentially weakening the public service, according to a senior state official.

Private sector credit contraction moderates in sign of bottoming out

The months-long contraction in credit to the private sector somewhat moderated in April in a sign of bottoming out ahead of further easing in the interest rates in the months to come with the beginning of a monetary easing cycle set off last week.

Country assessment on Anti-Money Laundering and Countering Financing of Terrorism coming up: President

Sri Lanka is looking to roll-out the next country assessment on Anti-Money Laundering and Countering the Financing of Terrorism....

Foxconn to manufacture smartphones in Karnataka by April 2024

Apple’s biggest supplier Foxconn will start manufacturing iPhones in the southern Indian state of Karnataka by April next year, the state government....

SL invites Singapore’s PSA International to participate in Colombo North Port development

In an effort to further catalyse Sri Lanka’s economic activity by improving trade and supply chains, the Ministry of Ports, Navigation....

US interest rates raised to highest level in 16 years

The US central bank has raised interest rates to the highest level in 16 years as it battles to stabilise prices. The Federal Reserve increased...

Fitch warns it could still cut America’s credit rating despite debt ceiling resolution

Fitch Ratings is keeping the United States on watch for a potential credit rating downgrade even after Congress passed a last-minute....

Vallibel Finance unveils impressive new corporate office in heart of Colombo

Vallibel Finance, a leading finance company under renowned Vallibel group, announced the opening of its new corporate office....

Amãna Bank joins 48th IsDB Annual Meetings in Jeddah

Amãna Bank recently participated in the much acclaimed 48th IsDB Annual Meetings, which took place from May 10 to 13, in Jeddah....

Singer Premium Furniture opens doors at One Galle Face

Singer Sri Lanka, a renowned name in the furniture industry, marked a significant milestone with the grand opening of its flagship store....

DIMO enhances digital presence with an all-new user-friendly website

DIMO, a leading diversified conglomerate in Sri Lanka, has recently launched its all-new website, www.dimolanka.com, aimed....

SL records lowest tourism monthly income of US$ 132mn in May

Sri Lanka’s tourism industry recorded an income of US$ 131.5 million for May from 83,309 arrivals, the lowest monthly income thus...

Economy shows signs of improvement but recovery remains a challenge: IMF DMD

Sri Lanka’s economy is showing tentative signs of improvement, due to the implementation of critical policy actions, acknowledged visiting senior International Monetary Fund (IMF) official but noted recovery remains challenging.

Improved supply of imported goods expected as govt. looks to ease restrictions

Sri Lanka will see a further improvement in the supply of goods from the global market as early as next week, with the government announcing plans to ease the currently prevailing import restrictions.

Tea Auction prices decline further this week as rupee strengthens

The Colombo Tea Auction this week saw the prices for almost all the categories decline further, as the Sri Lankan rupee strengthened.

Macy’s and Costco sound a warning about US economy

CNN: Macy’s, Costco and other big chains say shoppers are pulling back at their stores and changing what they buy. That could be a red flag for the US economy.

Hela Apparel Holdings completes FY 2022/23 with resilience amidst challenging operating environment

The fourth quarter of FY 2022/23 marked the close of a challenging year for Hela Apparel Holdings PLC.

Top ME influencer in SL

Leading social media influencer Khalid Al Ameri, who is based in the Middle East, yesterday announced his visit to Sri Lanka.

China says always stands by SL’s sovereignty, political independence and socioeconomic development

China this week reiterated its commitment to Sri Lanka, stating it would always stand by Sri Lanka’s sovereignty as well as for political independence and socioeconomic development.

Vidullanka reports Rs.913mn PAT for FY 2022/23

Vidullanka PLC reported a profit after tax (PAT) of Rs.913 million for the financial year ended on March 31, 2023, as per the latest interim financials published in the Colombo Stock Exchange.

Central Bank shifts gears to growth with surprise policy rate cut

The Central Bank yesterday delivered a surprise policy rate cut, bringing nearly two years long tightening cycle to a close and left open the door for further rate cuts in the next few months among other measures to ease remaining restrictions on imports to reverse the prolonged economic contraction.

Govt. to introduce ‘Lab methodology’ to promote investments and implement biz proposals

Ranil Wickremesinghe Sri Lanka will introduce a new system called ‘Lab methodology’ to promote investments ensuring effective implementation of business proposals, President Ranil Wickremesinghe said in his televised address to the nation yesterday.

Govt. issues fresh gazette aiming to widen tax net

The government in a fresh gazette yesterday specified additional classes of persons required to register with the Inland Revenue Department (IRD), which is an attempt to broaden the country’s taxpayer base.