PM invites Kiwi businesses to invest in CIFC

Sri Lanka has invited the business community in New Zealand to invest in the proposed Colombo 

SLTDA and Rupavahini launch travel programme to boost domestic tourism

In order to promote and develop the domestic tourism of Sri Lanka, Sri Lanka Tourism Development Authority which is under the Ministry of Tourism Development and Christian Religious Affairs together with Sri Lanka Rupavahini Corporation is going to start an amazing and attractive TV travel programme soon. 

Govt. expects to raise Rs.100bn through revised VAT this year

The government expects to raise as much as Rs.100 billion through the revised Value Added Tax 

Bullish CB Governor says unwise to rule out anything

Although private credit growth is expected to fall down to a manageable 20 percent by the end of this year and all macroeconomic targets are to be achieved, the Central Bank refused to rule out a rate hike over the next six months, while keeping rates unchanged during this month’s policy review.

‘ Tourism for all’ says Sri Lanka Tourism

Emphasizing on the accessibility issues for differently-abled tourists, the Sri Lankan government 

Commercial Bank of Maldives launches operations

History was made when Commercial Bank of Maldives, a subsidiary of Commercial Bank of Ceylon 

IMF wants VAT bill in parliament soon

The InternatiThe International Monetary Fund (IMF) last week asked the government to expedite the legislative onal Monetary Fund (IMF) last week asked the government to expedite the legislative 

PM goes step further in envisioning new SL

Prime Minister Ranil Wickremesinghe yesterday went a step further in envisioning a new future for Sri Lanka stating that the ultimate aim is to make the nation a sea and air-based economy, a potential 

Protesting against proposed Customs law

A demonstration was staged by the Customs Trade Union Alliance yesterday in front of Sri Lanka Customs headquarters in Colombo Fort, demanding the authorities to withdraw the proposed new Customs Ordinance Draft Bill Pic by Kushan Pathiraja

Informal tourism sector continues to grow despite snags

Tourist stays in unregistered accommodation grew by 37.53 percent Year-on-Year (YoY) for 2015, but r

Power gamble!

The government appears to be taking a big gamble in order to avoid a power crisis in 2018 by placing its trust in Standardized Power Purchases (SPPs) from future private sector power plants, many of which the 2016 Budget had already proposed to cancel.

Colombo’s real estate bubble!

A man walks past an advertisement of a hotels and apartment complex, in Colombo. Recently a private 

Industry Assn. hails President’s directive to ban gem mining by foreign firms

Sri Lanka Gem and Jewellery Association (SLGJA) yesterday welcomed a directive supposedly 

Govt. intervention sought to prick real estate bubble

??By Chandeepa Wettasinghe The government should intervene to burst the real estate bubble in 

IMF reviews extended loan facility with FinMin

IMF representatives yesterday met Finance Minister Ravi Karunanayake for a mission review of the 

Protest against garbage!

A protest was staged yesterday by the residents of Ekala against the plans to relocate the Meethotamulla garbage dump to Ekala. Despite probably being the cleanest country in South Asia, Sri Lanka has so far failed to set up a working mechanism to recycle its garbage in a sustainable manner  Pic by Pradeep Pathirana

Celebrating Eid al-Adha!

A girl applies henna on a hand of a customer at a stall ahead of Eid al-Adha in Colombo (REUTERS)

Colombo Int’l Financial City to begin work next month

People walking past a backhoe located in the proposed Chinese-funded Colombo International Financial City. Reclamation work of the Colombo International Financial City, which was earlier known as Colombo Port City, is expected to recommence this October with a new tripartite agreement among Ministry of Megapolis and Western Development, the Urban Development Authority (UDA) and CHEC Port City Colombo replacing the previous agreement signed in 201

Public transport misery

Commuters hang off a local passenger train in the morning in Colombo. Sri Lanka is looking to improve 

SriLankan to absorb Mihin Operations to be fully taken over by December

Going forward, in trimming down the excess baggage, SriLankan Airlines is set to start absorbing the 

Tea exporter proposes to set up distress relief fund for industry

A leading tea exporter in the country recently called on the government to set up a social market 

July tea output down 19% on low prices, poor fertiliser use

REUTERS: Sri Lanka’s tea output in July fell 19 percent from a year earlier to a 15-year low due to poor application of fertiliser, low market prices and a government ban on pesticides, the state-run Tea Board said yesterday. 

Private sector outlines commitment to sustaining peace to UN Secretary General

Subsequent to the address by the UN Secretary General Ban Ki-Moon on the topic of Sustaining 

Finance Minister and UN Secretary General meet

The UN Secretary General who is on an official tour in Sri Lanka met Finance Minister Ravi Karunanayake during his  visit to the President’s House. Pic by Sudath Silva  

Facets Sri Lanka kick starts

As Sri Lanka is gearing up to become the ‘sapphire capital’ of the world, the local gem and jewellery sector sparkled under fresh spotlight yesterday with the kickoff of the 26th edition of Facets Sri Lanka at 

China ready to pump in over US $ 5bn in FDIs: envoy

China’s top diplomat in the country yesterday said that the world’s second largest economy is prepared to commit over US $ 5 billion in foreign direct investments (FDIs) over the medium to long term for special economic zones, if the Sri Lankan government is prepared to authorize them.

Sri Lanka keeps policy rates steady

The Monetary Board of the Central Bank yesterday decided to keep the key policy interest rates 

Ravi K invites SAARC countries to invest in Colombo Financial City

Member countries of the SAARC now have the opportunity to invest in the Colombo International Financial City and enjoy benefits from the emerging economy of Sri Lanka, Minister of Finance Ravi Karunanayake said.

Address barriers to exports before entering FTAs: think tank

Sri Lanka must address internal barriers to exports that it can control, before placing all its efforts on 

‘Construct 2016’

Housing Minister Sajith Premadasa making inquiries at the ‘Construct 2016’ exhibition that opened at the