Slowing global demand makes Lankan apparel exports slump further

The fortunes of Sri Lanka’s apparel sector took a further dip, with the month of April showing the sharpest year-on-year (YoY) contraction in terms of exports, asserting the need for renewed efforts to maintain the industry’s contribution to the

Slump in private sector credit continues; credit to govt. up

The months-long descent in credit to the private sector turned more pronounced in March as such credit reported a net de-growth of Rs.107.6 billion, nearly doubling from the Rs.57.6 billion contraction...

Galadari Hotel to proceed with proposed refurbishment after 4-year hiatus

Galadari Hotels (Lanka) PLC has decided to proceed with the proposed refurbishment of the 450-room hotel after a 4-year hiatus, of which details are yet to be finalised. “.. the company....

G7 leaders welcome launch of creditors meeting for Sri Lanka

Leaders of the Group of Seven (G7) welcomed the launch of creditors’ meeting for Sri Lanka under the three co-chairs France, India, and Japan and said it could be a model that could be used as a template....

China overtakes Japan as world’s top car exporter

China says it has become the world’s biggest exporter of cars after overtaking Japan in the first three months of the year. Officials figures released in the last week...

Granbell Hotel Colombo marks one year milestone

Granbell Hotel Colombo, a Japanese-owned hotel in the heart of the capital city, recently celebrated its first anniversary. During a press conference held last week, the hotel’s....

Sri Lanka’s industrial production slips on softening global market conditions 

Sri Lanka’s industrial production slipped in March from February as most of the manufacturing segments weakened on the back of softening global demand and also precarious local market...

Gulf oil giants turn to start-ups in carbon-capture bid

Faced with mounting pressure over planet-heating pollution, Gulf Arab energy giants are turning to humble tech start-ups as they search for ways to remove emissions while keeping oil flowing. Oil producers...

TikTok creators sue Montana over app ban

A group of TikTok users has sued to overturn Montana’s new statewide ban blocking the app, alleging that the law signed this week by Gov. Greg Gianforte violates the First...

New platform initiated for young professionals in public policy

Emerging Sri Lankan public policy leaders have come together to form the country’s first platform for professional development and networking towards advancing better public policy capabilities. The Young...

Samantha Rajapaksa joins EY GDS as SL Location and Consulting Leader

EY Global Delivery Services (GDS) recently announced the appointment of Samantha Rajapaksa as Location and Consulting Leader at EY GDS Sri Lanka. Rajapaksa....

UNDP and NIA partner to mainstream social innovation in Sri Lanka

The United Nations Development Programme (UNDP) in Sri Lanka, through its innovation arm Citra Social Innovation Lab, has partnered with the National Innovation Agency (NIA) to jointly address...

CA SL-APFASL’s Public Financial Management master’s degree to reinforce public sector

Turning a new leaf in the country’s public financial management, the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) together with its public sector wing, the Association of Public Sector...

Govt. mulls strict measures to rectify prices of imported goods to match rupee appreciation

The government is mulling strict measures to rectify the prices of imported goods, if the traders fail to pass down the benefits of the recent appreciation of the rupee against the US dollar to the consumer.

Prez gives authorities one month to present plan to accelerate digitalisation process

President Ranil Wickremesinghe has given the relevant authorities a timeframe of one month to present a plan to accelerate the digitalisation processes, so that there are no more delays in steering the way forward in this regard.

Mein Schiff 5 docks at Hambantota Port with 2,200 tourists

The Hambantota International Port (HIP) welcomed yesterday 2,200 tourists, who arrived on cruise liner Mein Schiff 5.

Sri Lanka affirms commitment to Indian Ocean Cooperation at 6th IOC held in B’desh

Sri Lanka affirmed commitment to the Indian Ocean Cooperation this week, where the government pledged to contribute to efforts towards regional cooperation, peace, security and inclusive economic development.

Colombo Tea Auction this week records highest offering since June 2021

The Colombo Tea Auction broke the recurrent trend of dampened offerings, with the largest volume since June 2021 coming under the hammer this week. The auction offering expanded to 7.2 MnKgs, the highest since Sale No. 24 of June 21/22, 2021, where quantities totalled 7.3 MnKgs.

Highly awaited TAAI convention to finally come to SL in July

The highly-anticipated Travel Agents Association of India (TAAI) convention is all set to take place in July, after being postponed several times last year.

Sri Lanka’s largest travel and tourism fair kicks off after 3 years

The 10th edition of Sancharaka Udawa, Sri Lanka’s largest travel and tourism fair, kicked off yesterday, bringing together industry officials and professionals on a single platform.

Indian health authorities closely monitoring contamination reports on Indian medicine in SL

In reference to the incident where several patients in Sri Lanka were found with minor eye complications after the use of a medicine manufactured by one of the renowned Ophthalmic products manufacturing companies in India, the Indian health authorities are closely monitoring the incident and coordinating with the relevant company.

Sancharaka Udawa kicks off after 3 years

The 10th edition of Sancharaka Udawa, Sri Lanka’s largest travel and tourism fair, kicked off yesterday, bringing together industry officials and professionals onto a single platform.

Rupee appreciates as CB takes breather from dollar purchases

Sri Lanka’s rupee further appreciated against the US dollar (US$) yesterday dropping below Rs.300 for the first time since April last year as the Central Bank (CB) took a breather from its dollar purchases to allow consumption to rebound.

Fresh tourism promo campaign launched by leading industry players to attract Indian market

Cinnamon Hotels and Resorts, Walker’s Tours, Aitken Spence Hotels, Aitken Spence Travels, Jetwing Hotels, and Jetwing Travels join forces with SLTPB and SriLankan

EU backing for Sri Lanka on climate change adaptation

The European Union (EU) has expressed its willingness to extend support to Sri Lanka as it adapts to the impacts of climate change. The EU has said it is committed to working with Sri Lanka to help the country build a more resilient and sustainable future.

Govt. focuses on developing credible system to regulate Samurdhi banking system

​State Minister of Finance Shehan Semasinghe and State Minister of Social Empowerment Anupa Pasquale this week chaired a discussion with Central Bank Governor Dr. Nandalal Weerasinghe on regulating the Samurdhi banking system.

BOC presents Annual Report 2022 to President

The Bank of Ceylon (BOC) Annual Report 2022 was presented to President Ranil Wickremesinghe, the Minister of Finance, Economic Stabilisation, and National Policy, by BOC Chairman Ronald C. Perera at the Ministry of Finance yesterday.

Montana to become first US state to ban TikTok

BBC: Montana is set to become the first US state to ban Chinese-owned media giant TikTok from personal devices.

Oceanpick premium product Barramundi enters Europe

Oceanpick, Sri Lanka’s first and South Asia’s largest oceanic finfish farm, has reached another momentous milestone for its ocean-grown Barramundi having successfully entered the European market through its strategic partnership with Kangamiut Seafood.

Prime Group completes flagship project ‘The Grand Ward Place’

The Grand Ward Place, the ultra-luxurious flagship project of Prime Group declared open with its esteemed clients and project partners this week.