Tourism Fest 2016 kicks off

By Supun Dias The annual Tourism Fest 2016, organised by the Tourism Development and Christian Religious Affairs Ministry, was declared open by Prime Minister Ranil Wickremesinghe at the Independence Arcade, this Tuesday.  Attracting a substantial crowd, both local and foreign, this year’s edition of the festival holds the promise of entertainment and fun that will undoubtedly intensify the festive feeling that comes round this time of

ADB signs US$115mn loan to improve rural electricity supply in Sri Lanka

The Sri Lankan government and the Asian Development Bank (ADB) yesterday signed the agreement to provide a US$ 115 million loan to uplift electricity supply in Sri Lanka’s rural regions, a Finance Ministry communiqué said.

IMF calls for stronger financial sector supervision and regulation

The International Monetary Fund (IMF) called for further strengthening in the financial sector supervisory and regulatory framework, as the recent rapid growth seen in credit has slightly lowered the capital adequacy ratios (CARs) of banks and finance companies. The local authorities have also welcomed technical assistance from the IMF on financial supervision and regulation and asked for further coordination with other technical assistance donor

EU to support Lanka’s investment promotion drive

 The European Union (EU) has pledged to extend its assistance to promote investment in Sri Lanka under the current government’s set economic development programme. The EU Ambassador to Sri Lanka Tung-Lai Margue met with Finance Minister Ravi Karunanayake recently to discuss investment and trade.

Sri Lanka and Tajikistan sign MoU to boost bilateral trade

With a view to further promote bilateral trade and commercial activities, the Ceylon Chamber of Commerce (CCC) this week signed a Memorandum of Understanding with the Chamber of Commerce and Industry of the Republic of Tajikistan.

IMF calls for faster structural reforms to keep programme on track

The International Monetary Fund (IMF) last week said the pace of structural reforms earlier agreed 

IMF cuts growth forecasts for SL on external volatilities

The International Monetary Fund (IMF) last week revised down its full year growth targets set for the 

FinMin says govt. keen to relieve public from tax burden

Finance Minister Ravi Karunanayake making a sudden inspection tour of the Inland Revenue 

Reserve outflows ring alarm bells

Sri Lanka’s economy could possibly be at the early stages of spiralling into another crisis if the trend 

Digital economy experts tell govt. to slowdown on taxes

Sri Lanka should not be excessively taxing and dictating terms to the proverbial goose that lays the 

CB awaits P’ment nod to decide on doubling banks’ capital

The Central Bank is awaiting the Parliament nod for the 2017 budget to decide on as to how it could 

A high-powered business delegation from Belgium visited Sri Lanka this week

A high-powered business delegation from Belgium visited Sri Lanka this week

Cautiously optimistic of govt.’s fiscal policy, says Central Bank

The Governor of the Central Bank of Sri Lanka this week praised the budget proposal to subject fiscal 

US treasury official in town to advise on G-Sec auctions

An official from the United States Treasuries is now in town to advise the Central Bank on improving 

Central Bank holds rates as private sector credit and inflation moderate

Sees adequate monetary space for economy to grow at 5.0% in 2016 and 6.3% in 2017  

Expert calls for right regulatory and promotional moves for tourism to boom

??By Chandeepa Wettasinghe Sri Lanka could become one of the world’s most competitive tourism 

ADB lends US $ 250mn for Sri Lanka’s capital market development

CB, IBSL, SEC and SLAASMB are implementing agencies   

Commerce Minister pledges support to packaging industry

Sri Lanka’s packaging industry this week received praise and a support pledge from the country’s 

Hayleys wins ‘Best Corporate Citizen Sustainability Award 2016’

Hayleys PLC emerged as the winner of the ‘Best Corporate Citizen Sustainability Award 2016,’ for the 

Private sector tells government to up propaganda on economic policies

The private sector recently called on the government to increase the efficiency of propaganda on its 

Apparel exporters give thumbs up for budget 2017

The apparel sector, the country’s leading export industry, praised the 2017 budget for being progressive

Govt. will revive crafts sector with new technology: PM

The Sri Lankan government is planning to introduce technological solutions for the country’s traditional crafts industry, it was revealed at the Shilpa Abhimani–2016 Presidential Awards and Handicrafts Exhibition inauguration. “It is time we bring in new technologies to this sector. Together with our Ministry of Telecommunication and Digital Infrastructure, we are planning to introduce new tech to Sri Lankan crafts sector,&rdquo

SEC relaxes rules on minimum public float

With just 44 days left on the deadline for publicly listed companies to adhere to public float 

Business Today TOP 30

The top corporate performers of Sri Lanka for 2015-16 were recognized at the Business Today TOP 30 

FinMin stern on clipping Central Bank’s wings

In the wake of criticism that the Finance Ministry has invaded the authority and autonomy of the 

Teejay Lanka to make US $ 13mn investment in India next year

By Zahara Zuhair Teejay Lanka PLC, the local weft knit textile manufacturing company, which was 

INFOTEL 2016

Large crowds gathered to witness the ‘Infotel 2016’, national ICT exhibition that kick-started yesterday at 

Balancing budget!

Finance Minister Ravi Karunanayake yesterday presented the good governance administration’s third 

Final touches for budget 2017

Independent Sri Lanka’s 70th budget and the third budget of the good governance administration 

Tourist arrivals in October up 14%

The tourist arrivals to Sri Lanka grew a healthy 13.7 percent year-on-year (YoY) to 150,419 in October, the data released by the state tourism office showed.