Sri Lanka’s fiscal deficit expanded slightly despite higher revenues during the first six months of 2021 compared to the same period last year, made possible by the higher tax revenues collected during the first three months of the year from a burs

S&P Global Ratings yesterday revised its outlook on Sri Lanka’s long-term ratings to negative, from stable, while affirming its ‘CCC+’ long-term sovereign credit ratings and ‘C’ short-term ratings on Sri Lanka.

The Internal Monetary Fund’s (IMF) US$ 800 million Special Drawing Rights (SDRs) allocation to Sri Lanka is only likely to provide some breathing space to the debt-ridden nation to delay a much needed IMF programme for a possible debt structuring u

Reinforcing an early cap imposed on the foreign currency-denominated deposits by the local banks, the Central Bank yesterday issued an order stipulating the maximum rate at 5.0 percent for deposits denominated in foreign currency up to one year, barr

The Ceylon Electricity Board Engineers’ Union (CEBEU) and Public Utilities Commission of Sri Lanka (PUCSL) are throwing the blame at each other as a Malaysia-based renewable energy investor has resorted to arbitrary action against the Ceylon Electr

The Public Utilities Commission of Sri Lanka (PUCSL) has instructed the Ceylon Electricity Board (CEB) to come up with a fresh Long-Term Power Generation Expansion Plan, complying with the 70 percent renewable energy power generation target set by th

Citibank in a note issued soon after last week’s monetary policy action said although the Central Bank would pause for sometime given the temporary respite they may get from the envisaged foreign inflows via swaps and others, it did not rule out fu

Sri Lanka’s merchandise export earnings surpassed the US $ 1 billion mark in July, after a lapse of four months, where a similar achievement was only recorded in March during this year.

The Monetary Board yesterday raised policy interest rates, ending its unprecedented monetary support extended to the pandemic-hit economy in a bid to address recent external sector imbalances and ward off medium term price pressures to make sure the

The Colombo Stock Exchange (CSE) evidently had been one of the most preferred options for local corporates of all sizes to raise capital in the first seven months of 2021.

The lingering virus could dampen the economic activities through the end of September, further delaying any hopes for a tangible recovery in the economy, which was continuously battered by half a decade of subdued growth before contracting last year.

Sri Lanka’s gross official reserves weakened as expected in July after the government settled a billion dollar bond with coupons among other obligations on July 27.

The trade deficit continued to widen for the fourth consecutive month in June on a year-on-year (YoY) basis, as imports grew at a faster pace, driven by consumer and investment goods, surpassing the pre-COVID levels, despite a decline in the fuel imp

One of the fastest growing apparel manufacturers in Africa, Sri Lanka-headquartered Hela Apparel Holdings plans to raise up to Rs.4 billion (US$ 20 million) by offering 20 percent stake in the company through an initial public offering (IPO) on the C

With no considerable foreign exchange inflows in sight,

Sri Lanka’s cement industry could become the latest victim of controlled prices as manufacturers are contending with input and other costs, which are rising at a level that no longer enables them to stay solvent at the current retail price for ceme

The Special Deposit Accounts (SDAs) introduced last year at the onset of the pandemic, offering a higher rate of interest for foreign currency deposits, are also playing a role in drawing more foreign earnings from the Sri Lankan expatriates working

Sweet turns sour for local confectionery manufacturers as they are expected to feed into their production process substandard sugar which has hampered the overall quality of the end product reaching the market.

The trade rebalancing act that took place between the United States and China has already worked in Sri Lanka’s favour, as the fabric supply chains began shifting towards South East Asia, seeking to establish new supply relationships after being to

While computer literacy hasn’t reached a third of the population in Sri Lanka, the COVID-19 pandemic has given the country’s digital literacy a push with people picking up digital devices to connect with each other, work, study and entertain them

Under the Strategic Development Projects Act, the government has granted a 25-year tax holiday for the proposed West Container Terminal (WCT) at the Port of Colombo to be built by India’s Adani group with its local partner,

Further relaxing the import restrictions initially imposed on agrochemicals, the Finance Ministry has allowed the importation of several previously banned chemical fertilisers under an import control licence (ICL) regime for plant nutrients, with eff

The Central Bank could stay on its current dovish monetary policy path through the rest the year, as the desired goals of such a policy are being achieved by way of accelerated pace of credit to the economy, although further easing is ruled out due t

A workable plan backed by a durable analysis presents Sri Lanka with the best chance to overcome the current external debt crisis and a potential foreign exchange reserve crisis by rebuilding the confidence on the country among local and foreign inve

The virus-related restrictions on a wide swath of the economy since April third week took a massive toll on the credit card spend by the Sri Lankans,

The Ceylon Electricity Board Engineers’ Union (CEBEU) said they are on high alert over a possible delay that could occur in obtaining the required LNG supply to the country in a transparent manner as the government is moving ahead to strike an unso

Sri Lanka’s premier blue chip John Keells Holdings PLC (JKH) recorded a steady performance for the June 2021 quarter (2Q22), as the impacts of the COVID-19-induced travel restrictions during the quarter were less pronounced on the group’s busines

The Labour Ministry has announced plans to bring in new laws and regulations and alter the existing laws within three months to prohibit anyone below 18 years of age being employed.

Sri Lanka will have foreign reserves over US $ 7 billion within the next few months, even after the payment of US $ 1 billion sovereign bond settlement, which is due today, Finance State Minister Ajith Nivard Cabraal said.

Further tightening of import controls will have divergent impact across industries, depending on their reliance on imports for daily business, the extent to which they engage in import substitution and their essential nature as designated by the gove