The worker remittance inflows to Sri Lanka is estimated to decline by 6.2 percent year-on-year (YoY) to pre-pandemic levels of US $ 6.7 billion this year while the outlook for 2022 remains largely uncertain, according to the World Bank (WB).

Reinforcing customer-centricity in providing excellent services, SLT-Mobitel Mobile has become the first in Asia to receive the international ISO 18295-1:2017 quality standard for its Customer Contact Centre (CCC) operations recently. Additionally, S

In yet another progressive step bringing about a giant leap within the Sri Lankan education domain and marking a first in the country, Dialog Enterprise introduced Convergence Tech Identity (CTI), a revolutionary digital education credentials service

Shrugging off concerns raised by certain parties in recent times over the country’s ability to meet its foreign currency debt obligations falling due next year, the Central Bank Governor Ajith Nivard Cabraal said the provisions had already been mad

A national consensus backed by a common minimum programme, which should be implemented by an independent team of experts, is mooted for Sri Lanka to overcome a potential sovereign default next year.

Capping weeks of expectations for a rate hike by certain quarters, the Central Bank decided to maintain the current monetary policy unchanged this week in a sign of bias towards supporting the recovery of the economy beset by the pandemic and told th

Insurance companies could see some near-term pressure on their top lines and thereby their earnings, from the proposed new taxes on the corporates in Budget 2022 but they are unlikely to hurt their capitalisation levels, which strengthened during the

While Sri Lanka had made progress in bringing its official jobless rate down, the issues facing the workers appear to run deeper as many who lost their employment due to the pandemic-induced economic restrictions appear to have given up looking for w

The weekly Averaged Weighted Prime Lending Rate (AWPLR) eclipsed the 8.0 percent level last week, signalling that the present upturn in the market lending rates has more room to run its course, on the back of the prolonged shortages in the rupee and

The proposed ban on importation of rubber-based products and the parallel promotion of investments into local production of rubber related finished goods may not yield the desired results as the country is already scrambling to meet the demand for na

Sri Lanka’s sector recorded an all-time high earning for any October in the country’s export history, with October 2021 fetching a revenue of US $ 1.16 billion.

In an apparent attempt taken at dovetailing the fiscal policy for next year with the monetary policy, which is increasingly getting skewed towards more tightening with foreign exchange challenges and inflationary pressures, the budget presented last

In the absence of policy guidance, the government has failed miserably to build up its foreign reverses in contrast to other South Asian governments, which have beefed up reserves to meet the external challenges, a senior Opposition lawmaker charged.

Experts in tax and businesses on Monday attempted to come into grips with the proposed Social Security Contribution in the budget presented last week as the broad-based application could lead to enormous damage to several crucial sections of business

Sri Lanka’s trade deficit declined for the first time in six months on a year-on-year (YoY) basis in September to US $ 495 million, from US $ 525 million a year ago, as export income continued to grow in the month while import expenditure remained

The one time surcharge tax imposed retrospectively on individuals and companies from the budget 2022 immediately ignited debate to make it the hot button issue among private sector stakeholders due to its violation of basic tax principles such as equ

Sri Lanka expects to reduce its fiscal deficit to 8.8 percent of the gross domestic product (GDP) in 2022, down from the estimated 11.1 percent deficit in 2021, as the maiden budget of Finance Minister Basil Rajapaksa looked to cut expenses and intro

The Central Bank and the commercial banks gave the government Rs.110 billion in September on a net basis, little lower than what the government borrowed a month ago as the debate is raging if the liquidity injections by the Central Bank to the govern

The Central Bank yesterday said that plans are afoot to incentivise the Sri Lankan expatriates who ensure their remittances enter the country through formal channels, so that both the migrant workers and national economy can reap the benefits of a wi

Sri Lanka is confident it can replicate policies of the most advanced digital economy in East Asia, China, in its journey towards digital transformation, but challenges remain in incorporating the learnings into the national policy framework.

The relief measures implemented by the Central Bank of Sri Lanka (CBSL) and extended to the local businesses impacted by the COVID-19 pandemic have crossed the Rs.4,000 billion mark, with the Saubagya loans amounting to over Rs.179 billion.

Foreign exchange reserves were measured at US$ 2,267.5 million by the end of October, down from US$ 2,704.2 million in September as the Central Bank settled US$ 492.9 million worth foreign liabilities during the month. Sri Lanka is scrambling to shor

Commercial Leasing and Finance PLC (CLC), a unit of LOLC Group, yesterday became the first listed entity to cross the Rs.500 billion mark in market capitalisation on the Colombo Stock Exchange (CSE), while driving the benchmark All Share Price Index

As more countries appear to be ditching the ‘zero-COVID’ strategy and beginning to deal with the virus as an endemic compared to a pandemic, rating agency ICRA Lanka recommends Sri Lanka to follow the same path as the worst of the pandemic appear

The availability of ready-to-eat wheat flour-based food products will take a considerable hit in the coming weeks, as the shortage of key ingredients to feed the supply chains of the confectionary and bakery sectors has pushed the manufacturers to cu

The government is expected to present a non-traditional and transformational budget targeting a sizeable reduction in the country’s fiscal deficit for 2022 by focusing on further cutting down non-essential and non-prioritised State expenditures wh

There are signs that the prolonged and unprecedented monetary and fiscal policy support extended to blunt the negative impacts on the pandemic on the broader economy has reached its limits, as the excesses are emerging by way of rising fiscal deficit

Inflation in the Colombo district surged in October after the government lifted price controls on many essentials while there were clear effects on prices from the easing of lockdowns as people ventured out for outdoor dining and other recreational a

Issuing fresh rules on the repatriation and conversion of export proceeds, the Central Bank yesterday asked the exporters of both goods and services to convert their export proceeds into rupees, upon meeting a number of authorised payments in foreign

Moody’s Investors Service yesterday downgraded Government of Sri Lanka’s long-term foreign currency issuer and senior unsecured debt ratings to Caa2 from Caa1 under review for downgrade, concluding a review for downgrade initiated on July 19, 202