SL must go well beyond IMF programme: Prof. Sally

Sri Lanka could miss a once-in-a-generation opportunity to plug into the fast-growing supply chains of southern India – that is unless the island nation pushes through market-opening reforms that go “well beyond” its current International Monetary Fund (IMF) programme, leading international economist Prof. Razeen Sally warned this week.

CFA awards spotlight SL’s capital-market trailblazers

The CFA Society Sri Lanka marked its 12th annual Capital Market Awards last evening (24 June) honouring individuals and institutions that demonstrated excellence in the country’s capital markets.

AI-centric strategy to propel SL’s digital economy fivefold by 2030

Sri Lanka aims to grow its digital economy fivefold over the next five years, placing artificial intelligence (AI) at the centre of its strategy to boost growth, enhance inclusion and strengthen global competitiveness, a senior official said.

SLTDA unlocks 3,000 acres for tourism development via new digital land bank

Sri Lanka’s tourism sector is set for a major investment drive with the launch of the ‘Land Bank Management Information System (LBMIS)’, an automated platform making over 3,000 acres of state and privately-owned land available for development.

FDI records 90% increase in 1Q25

Sri Lanka’s foreign direct investment (FDI) has increased by US $ 96 million in the first quarter of 2025, compared with the same period in 2024.

Corporate earnings jump 57.4% in March quarter

Listed companies posted 57.4 percent year-on-year increase in earnings for the March 2025 quarter, marking the sixth consecutive quarter of growth. This is as banking and consumer-led sectors

IRD clears significant VAT refund backlog

The Inland Revenue Department (IRD) has disbursed a large portion of its long-standing tax refund backlog this year, following a targeted intervention by the Finance Ministry to address a major grievance within the business community.

Agile outcome-based procurement vital for digital economy growth: Dr. Hans

A fundamental shift from traditional, process-heavy public procurement to an agile, outcome-based model is paramount to accelerating Sri Lanka’s digital economy, according to Chief Advisor to the President on Digital Economy Dr. Hans Wijayasuriya.

“This time must be different!” IMF First Deputy MD Dr. Gita Gopinath tells SL

Sri Lanka received what can be called a charged address from the International Monetary Fund (IMF) yesterday, which declared that the island nation’s recovery from its worst economic crisis in decades must not be wasted.

Sri Lanka Tourism surges in early June as sector awaits gathering storm from M.east conflict

Sri Lanka’s tourism sector registered robust growth in the first ten days of June, welcoming 43,962 visitors.

IMF closely engaged with SL on tariff hike

The International Monetary Fund (IMF) said it is closely working with the Sri Lankan authorities to assess the recent regulatory measures,

IRD’s new risk-based VAT system promises refunds in 15 days

Eligible exporters with low and medium-risk profiles will be able to receive their VAT refunds within an expedited 15-day period under a new risk-based refund system, which is set to replace the current Simplified Value Added Tax (SVAT) system from 1 October 2025.

Power pricing reform advances with net relief for industry

The Public Utilities Commission of Sri Lanka (PUCSL) yesterday approved a 15 percent increase in electricity tariffs, moderating the previously proposed hike.

No further operational halts at East Container Terminal - SLPA

The Sri Lanka Ports Authority (SLPA) yesterday moved to reassure the shipping industry an end to operational shutdowns at the East Container Terminal (ECT) previously required for construction.

India and Sri Lanka eye dual listing to build ‘financial bridge’ between capital markets

In a significant move to deepen economic ties, India and Sri Lanka are actively exploring a dual listing framework between India’s NSE International Exchange (NSE IX) and the Colombo Stock Exchange (CSE).

Sri Lanka’s oral health crisis demands cross-sector response: SLDA

Half of Sri Lankans suffer from some form of dental disease and a concerning 6 percent of the population has no teeth at all, according to the Sri Lanka Dental Association (SLDA), which has flagged poor oral hygiene as a “silent epidemic” requiring urgent, collaborative action.

Colombo Port heading towards a ‘natural death’, JAPTU warns

The Colombo Port, long considered the economic heartbeat of Sri Lanka, is heading towards a ‘natural death’ due to mismanagement at the Sri Lanka Ports Authority (SLPA), Co-Convenor of the Joint Alliance

Colombo Port transshipment decline enters 4th month; April dips 5.8%

The Port of Colombo’s transshipment volumes recorded a 5.8 percent year-on-year (YoY) decline in April 2025, reaching 495,456 twenty-foot equivalent units (TEUs), marking the fourth consecutive month of slowdown in this crucial segment.

New credit guarantee will break collateral barriers for local SMEs: ADB

The lack of sufficient hard collateral has long blocked small and medium enterprises (SMEs) in Sri Lanka from accessing finance.

President draws red line on tax relief

Sri Lanka’s private sector received a firm directive from President Anura Kumara Dissanayake yesterday, who said businesses “must pay fair taxes” and not seek tax revisions for industry development.

External sector stays resilient in April despite import surge

Sri Lanka’s external sector showed steady footing in April 2025, holding its ground amid mounting import pressure, as the country posted a current account surplus for the fourth consecutive month, thanks to strong inflows from tourism and worker remittances.

Colombo consumer prices ease 0.7% in May as deflationary era nears end

The consumer prices in the Colombo district fell 0.7 percent in the 12 months through May 2025, decelerating from the 2.0 percent decline recorded in April, as the country nears the end of its deflationary stretch that began in September last year, with base effects catching up.

US trade court ruling eases pressure on Sri Lanka for now

A surprise ruling by a US trade court blocking most of the steep tariffs announced by President Donald Trump may give Sri Lanka a much-needed breather, however, the country must not squander this window

Govt. eyes long-term plan to tackle export sector challenges

The government is looking to craft a longterm industrial development plan as Sri Lanka is moving towards establishing itself as an export-led economy, the President’s Office said.

Sri Lanka tourist arrivals top 1 million

Sri Lanka crossed the 1 million mark in international tourist arrivals for 2025 as of May 23, data from the Sri Lanka Tourism Development Authority (SLTDA) showed, hitting the milestone nearly a month earlier than in 2024 and returning to pre-pandemic levels last seen in 2018.

Sri Lanka’s exports rebound in April

Sri Lanka’s export engine gathered pace in April 2025, marking an 8.74 percent year-on-year (YoY) growth, with earnings reaching US $ 1.29 billion.

NEXT closure highlights urgent need for cost reforms – JAAF

Sri Lanka’s apex apparel body has sounded the alarm on the growing burden of operational costs, calling for urgent, industry-wide collaboration following the sudden closure of NEXT’s Katunayake plant, one of the largest single-factory shutdowns in recent times.

‘SL a five-star island with three-star image’: Veteran hotelier calls for tourism reset

Veteran hotelier Hiran Cooray on Thursday called on Sri Lanka’s tourism industry to raise its standards, urging a shift from what he described as a “three-star mentality” to one that reflects the country’s “five-star” potential.

CB cuts rates to pre-empt any fallout from trade uncertainty

The Central Bank delivered a surprise rate cut yesterday at its third monetary policy meeting for the year, reducing its key policy rate, the Overnight Policy Rate (OPR), by 25 basis points to 7.75 percent.

National consumer prices decline 0.8% in April on cut to petrol prices

Prices could flip into inflationary territory in a month or two as expected by Central Bank