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 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-pandemi

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.

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 i

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.

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.

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

Global technology giant IBM yesterday gave thumbs up for Sri Lanka’s efforts in digital transformation while implying the country has the right foundation to achieve its ambitions under the Digital Economy Strategy 2030.

Diversified conglomerate Hayleys PLC posted a 40 percent year-on-year (YoY) increase in profit before tax (PBT) to Rs.35.37 billion for the financial year ending March 31, 2025, driven by consistent export earnings and solid performances in its consu

Top economists are strongly advocating for Sri Lanka and India to conclude an ‘early harvest’ investment agreement within this year, viewing it as a critical first step towards a comprehensive Free Trade Agreement (FTA).

Denmark’s newly accredited non-resident Ambassador to Sri Lanka Rasmus Abildgaard Kristensen has voiced strong optimism for deepening economic partnerships between the two nations.

Sri Lanka’s tourism sector showed improved growth in tourist arrivals in the first 13 days of May 2025, with an expansion of 21.53 percent year-on-year (YoY) compared to the same period in 2024.

The licensed commercial banks have accelerated their pace of credit to the private sector in recent times, as the borrowing rates stay low while the economy picks up steam, generating demand for fresh credit from individuals and businesses.

Sri Lanka’s tourism sector continues to maintain its recovery momentum as it recorded US$ 256.7 million in earnings for April 2025, a 13.7 percent increase year-on-year (YoY).

Emirates has expressed its openness to increasing direct flight operations between Sri Lanka and various parts of India while emphasising that the respective governments of India and Sri Lanka need to grant the necessary permissions.

SriLankan Cargo, the air freight arm of SriLankan Airlines, has become South Asia’s first airline cargo division to secure the International Air Transport Association’s (IATA) CEIV Lithium Batteries Certification

Sri Lanka is set to gain renewed momentum going forward with the World Bank (WB) announcing it will back the island nation with a support package in excess of US $ 1 billion.

Sri Lanka continues to stand tall in the high human development category. However, latest data by the United Nations shows that the momentum is slowing, with regional peers closing in fast.

Sri Lanka’s financial sector must gear up to mobilise an estimated US $ 10.85 billion by 2030 to meet the country’s climate commitments, the Central Bank said, while warning that the cost of inaction is rising as climate risks intensify.

Sri Lanka’s tourism sector is nearing the 900,000 arrival mark for the year, with 896,884 tourists recorded by the end of April 2025.

A proposed increase in US tariff rates on rubber products could devastate Sri Lanka’s export sector, risking 150,000 livelihoods and destabilising rural economies, Sri Lanka Association of Manufacturers and Exporters of Rubber Products (SLAMERP) C

The consumer prices in the Colombo district fell by another 2.0 percent in the 12 months to April 2025, albeit at a slower pace from 2.6 percent seen through March.

Sri Lanka may still be on the road to recovery, but its steps in correcting long-standing policy failures are now being recognised where it matters most—by key international lenders.

A rise in illegal confectionery products entering Sri Lanka’s local market is posing significant challenges for the legitimate businesses and creating health risks for the consumers, a top industry representative warns.

Illicit cigarettes continued to erode the tobacco monopoly of Ceylon Tobacco Company PLC, with a significant 19.6 percent Year-on-Year (YoY) growth and soaring to 1.16 billion sticks in 2024.

The International Monetary Fund (IMF) and Sri Lankan authorities have reached a staff-level agreement on the fourth review of Sri Lanka’s reform programme supported by the IMF’s 48-month Extended Fund Facility (EFF) arrangement.

Transshipment volumes at the Port of Colombo experienced a decline in the first quarter of 2025 compared to the same period last year.

Sri Lanka has been commended for its quicker-than-expected recovery from the worst economic crisis since independence. However, the World Bank has echoed the growing concerns, cautioning that the island nation is still not entirely out of the woods.

Sri Lanka will not host Russian charter flights during the off-season due to diminished demand and a lack of summer promotions, according to the Association of Tour Operators of Russia (ATOR).

The national consumer prices continued to fall, albeit at a lesser pace in March, on the back of the decline in food prices as well as the slippage in non-food prices, ahead of the traditional new year.