CBSL identifies 21 companies engaged in prohibited schemes

The Central Bank of Sri Lanka (CBSL) said today that it has completed investigations into various companies suspected of engaging in activities prohibited under Section 83(C) of the Banking Act, No. 30 of 1988 (as amended).

Trump launches cryptocurrency with price rocketing

US President-elect Donald Trump has launched his own cryptocurrency, which quickly soared in market capitalisation to several billion dollars.

SEC extends deadline for corporate finance advisor licensing

The Securities and Exchange Commission of Sri Lanka (SEC) has extended the deadline for individuals and entities engaged in corporate finance advisory activities to obtain a licence until March 31, 2025.

ICFS to host University Spot Admission Day on January 18

ICFS Education Centre will host its University Spot Admission Day on 18th January 2025 at the ICFS Education Centre in Nugegoda.

Vehicle taxes may rise up to 600 percent in some cases, by 400 - 500 percent in others: Importers

The taxes on vehicles may increase by up to 600 in some cases and some vehicles being subject to taxes as high as 400% or 500%, the Vehicle Importers Association of Sri Lanka (VIASL) said.

6% increase in liquor prices

The Finance Ministry announced a 6% increase in Excise Duty on liquor, effective from tomorrow, as per a Gazette notification.

Cigarette prices increased

The Ceylon Tobacco Company (CTC) has announced that, following the increase in Excise Duty, cigarette prices will be raised under four categories starting from January 11, 2025.

Port City Colombo celebrates milestone with Marina Development groundbreaking

Port City Colombo celebrated a milestone today with the groundbreaking of the Marina Development, a joint venture between Browns Investments PLC, the strategic investment arm of LOLC Group and China Harbour Engineering Company.

Public consultation on Western Province tariff revision today at BMICH

The public consultation session on the Western Province electricity tariff revision will be held at 9 a.m. today at the Bandaranaike Memorial International Conference Hall (BMICH), the Public Utilities Commission of Sri Lanka (PUCSL) announced.

SLTB launches luxury bus service between BIA and Makumbura

The Sri Lanka Transport Board (SLTB) luxury bus service is now available between Bandaranaike International Airport (BIA) and the Makumbura Multimodal Center (MMC) in Kottawa, providing greater convenience for travellers, the Civil Aviation Authority of Sri Lanka announced.

Total expenditure for construction of MRIA not utilised effectively: National Audit Office

The National Audit Office has revealed that the total expenditure of USD 247.7 million (equivalent to Rs. 36,564 million), including price increases and variances, for the construction of the Mattala Rajapaksa International Airport (MRIA) has not been utilised effectively.

Emirates on track to become world’s 1st Autism Certified Airline

Emirates, one of the two flag carriers of the United Arab Emirates (UAE), announced it is all set to officially become the world’s first ‘Autism Certified Airline’.

JICA assures continued aid to Sri Lanka

The Japan International Japan International Cooperation Agency (JICA) assured its commitment to continue providing financial and technical assistance to Sri Lanka.

Govt. to tap migrant worker savings with Rs.744.75mn entrepreneurship scheme

Sri Lanka is exploring avenues to channel foreign earnings into local investments to boost its economy, with plans underway to empower the returning migrant workers to reinvest their hard-earned savings in the country.

Business community welcomes New Year with positive sentiments

Sri Lanka’s private sector enters year 2025 with optimism as the island nation has somewhat managed to emerge from years of economic turbulence, supported by signs of recovery and a more stable environment.

New Year New Challenges New Opportunities

As 2024 came to a close, Sri Lanka made significant progress in addressing, to a great extent, some of the critical issues that plunged the nation into crisis.

Emirates launches additional flight to CMB-DXB route

Emirates, the world’s largest international airline, is set to operate an additional scheduled service between Colombo and Dubai, starting from 2 January 2025.

CCC sets record straight on media statements relating to CBSL policies

The Ceylon Chamber of Commerce (CCC) said it is in no way connected to or involved with the statements recently attributed to ’The Sri Lanka Chamber of Commerce’ regarding directives issued by the Deputy Minister of Finance and the Central Bank of Sri Lanka.

Sri Lanka’s tourist arrivals surpass 2 million in 2024

Sri Lanka has welcomed its 2 millionth tourist who arrived from Bangkok this year, at the Bandaranaike International Airport (BIA), after a five-year gap.

Auction yields slump for third consecutive week

Market participants in the secondary market exhibited mixed sentiment, pivoting from the dull sentiment yesterday observing thin trading volumes and limited market activity.

Moody’s raises Sri Lanka’s rating

Christmas gifts are continuing to come Sri Lanka’s way, with Moody’s Ratings (Moody’s) upgrading the island nation’s long-term foreign currency issuer rating to Caa1 from Ca.

ASPI crosses the 15,000 mark for the first time

Indices closed in green as a result of price gains in counters such as LOLC Holdings, Hatton National Bank and Hatton National Bank nonvoting with the turnover crossing Rs. 8.4 billion.

November merchandise exports slide 5.6% YoY while services sector expands 21%

Sri Lanka’s export performance for the month of November witnessed a Year-on-Year (YoY) contraction of 5.6 percent with revenue reaching US$ 943.1 million. The decrease is primarily attributed to reduced earnings from exports of Rubber-based products, Electrical and Electronic components, Food & Beverages, and Seafood.

Browns Investments completes acquisition of shares in Lipton Teas and Infusions Tanzania Limited

Browns Investments announced today the completion of the acquisition of 100 percent of the shares in Lipton Teas and Infusions Tanzania Limited.

SL exits ’Restricted Default’ rating

Fitch Ratings has upgraded Sri Lanka’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to ’CCC+’, from ’RD’ (Restricted Default).

SriLankan airlines hosts agents’ tour to Gan island

The SriLankan Airlines Mumbai team, in collaboration with the airline’s Maldives team and Canareef Resort, recently hosted a successful agents’ educational tour to the stunning Gan Island in the Maldives.

First Capital crowned as Brand of the Year at SLIM Brand Excellence 2024

First Capital was recognised as the Brand of the Year at the SLIM Brand Excellence Awards 2024.

Bitcoin surges past $100k for first time

The price of Bitcoin has for the first time broken past the $100,000 mark, hitting a new record high.

USAID, CBL group to boost SL’s coconut industry

CBL Global Foods Limited (CBL GFL), a subsidiary of the CBL Group, in partnership with the United States Agency for International Development (USAID) this week released a practical handbook to improve coconut farming practices in Sri Lanka.

CG Corp Global bets big on SL’s recovery and growth

Chaudhary Group (CG) Corp Global, a Nepal-based multinational conglomerate, reaffirmed its commitment to Sri Lanka yesterday, pledging to remain invested in the long term while identifying opportunities to expand further.