The Monetary Board of the Central Bank of Sri Lanka yesterday decided to maintain policy interest rates at their current levels amidst monetary policy tightening in the United States and othe

Finance and Mass Media Minister Mangala Samaraweera yesterday vowed to bring in new amendments to the Microfinance Act of 2016 before the next budget, to resolve the rural indebtedness, which has become “a national tragedy”, caused by cer

Sri Lanka Insurance Corporation (SLIC) launches a fresh attempt to regain the market leadership in Sri Lanka’s insurance industry by implementing a three-year strategic plan partnering with a consultancy firm, aligned with fast-tracked branch e

SriLankan Airlines yesterday welcomed its newest and final addition to the Airbus A321 Neo fleet. The aircraft arrived from Hamburg via Abu Dhabi on July 29, 2018.

John Keells Holdings PLC (JKH), Sri Lanka’s highest valued business conglomerate, could not escape from the dampened economic activities in the country, as the group performance was hampered by its key consumer business segments.

Sri Lanka’s Tourism and Christian Religious Affairs Minister John Amaratunga this week called the “grumbling Colombo hoteliers” to re-commence night club operations to retain more tourists in Colombo.

The Sri Lankan banks may still be far from a full-blown non-performing loan (NPL) crisis. But cracks are appearing in the asset quality with the rise in sour loans, hindering the banking sector’s future growth prospects.  

Sri Lanka’s maritime sector master plan, developed by Maritime and Transport Business Solutions (MTBS), a consultancy firm from the Netherlands, and funded by the Asian Development Bank (ADB) is nearing completion, according to Ports and Shippi

Chinese President Xi Jinping has offered Sri Lanka a fresh grant of two billion yuan (US $ 295 million), as Beijing looks to expand its influence in the tiny island country off India’s southern tip.

Sri Lanka’s deficit in the trade account has been on a continuous expansion, but the pace at which it grew during the month of May decelerated after many months, as the country’s goods exports grew faster than its imports bill. 

The 20th edition of the Hotel Show Colombo 2018 – organized by the Ceylon Hotel School Graduates Association (CHSGA) together with event partner CDC Events, was opened by Prime Minister Ranil Wickremesinghe at the BMICH yesterday. Picture shows

Sri Lanka yesterday unveiled the five-year National Export Strategy (NES), a blueprint for achieving US $28 billion in exports by 2022, aiming to facilitate a sustainable transition to a higher middle-income country. 

Lanka Sathosa will return to profits this year amid the cost-cutting initiatives and focus on high-yielding grocery sales, according to the head of Sri Lanka’s state-run supermarket chain.

Plantation Industries Minister Navin Dissanayake is currently in Japan to find solutions to the problems faced in exporting Sri Lankan tea to Japan due to its residue levels. Japan has introduced a set of revise

Sri Lanka plans to bring several amendments to the new Inland Revenue Act (IRA) within next six weeks, following the emergence of several discrepancies during the implementation of the act, Finance and Mass Media Minister Mangala Samaraweera said.

State banks should change its stance specially when it comes to lending, and thereby should stop focusing on the assets which an entrepreneur possesses but instead should look at the viability of the project presented by him/her,” Prime Ministe

Sri Lanka is to adjust fuel prices every month to reflect the world market prices of fuel through the announced “fuel pricing formula”.  Addressing a m

Sri Lanka scores low on providing a conducive business environment for US companies operating in the country owing to policy instability while conditions for attracting For

HSBC, the market leader in global trade finance, expressed confidence that the World Trade Organisation’s (WTO) rule-based multilateral trading system is likely to survive the current trade war between the US and China with some changes. 

The decline of ethics and morals in Sri Lanka’s business community has led businesses to heavily depend on excessive lobbying to politicians to gain “favour and unfair advantage” over the competitors, a leading shipping and logistic

Sri Lanka’s Cabinet of Ministers has approved the National Export Strategy (NES)—a five-year strategy aimed at increasing exports and generating enhanced revenue for Sri Lanka’s small and medium enterprises and exporters, a communiq

The Central Bank has urged the government to put more weight on factor market reforms, improving investment climate and capitalising the country’s geographical location through trade policy in order to boost future economic growth, as the relat

The Central Bank left its key policy rates unchanged as expected yesterday, saying a low rates environment and stabilising inflation will support an economy in the face of a fragile rupee currency.

Successive Sri Lankan governments have pumped in a colossal Rs.1, 150 billion for the upkeep of the strategically-important State-owned Enterprises (SOEs) up to 2017, the Finance and Mass Media Ministry Secretary Dr.R.H.S. Samaratunga said.  He

The government may need to re-evaluate the effectiveness of the recently introduced targeted capital allowances under the new Inland Revenue Act that replaced the tax holidays to attract both local and foreign investments, Vallibel One PLC Chairman a

Sri Lanka’s total outstanding external debt stock has increased by 23.3 percent year-on-year (YoY) to US $ 31.6 billion at the end of April this year, compared to US $ 25.61 billion at the end of April 2017, according to 2018 Mid-Year Fiscal Po

Ceylon Petroleum Corporation (CPC) yesterday unveiled the country’s first Euro-spec fuel dispenser and launched European Emission Standard Euro 4 fuel, at a launch ceremony held at C.F. De Mel & Sons Filling Station, in Colombo 2.

Ceylon tea continues to face major hurdles this year due to ad-hoc policies pursued by the State, government-red-tape, irresponsible actions of certain stakeholders and volatile conditions of key export markets, the umbrella organisation of Ceylon Te

Delivering the keynote address at the Saman Kelegama Memorial Conference yesterday, Prime Minister Ranil Wickremesinghe noted that Sri Lanka has to address weaknesses in trade competitiveness, eliminate trade barriers, tackle anti-dumping legislation

A bird’s-eye view of the Chinese-funded Colombo Port City, which is under construction. An explosive New York Times new report this week shed light on alleged Chinese involvement in Sri Lanka’s domestic politics, and the International Mon