President instructs officials to amend provisions of land management ordinances and introduce new regulations Stresses that archaic land policies established during the colonial era are no longer suited to modern development needs

Sri Lanka’s lubricant consumption fell to a 13-year low in 2022, amid the severe forex crunch, which snowballed into a full-blown economic crisis, marked by hours-long power cuts, massive fuel shortages and runaway inflation.

The first week of May recorded the lowest weekly tourist arrivals since January 2023 with only 18,401 international visitors having entered destination Sri Lanka.

Sri Lanka plans to formally apply for Geographical Indication (GI) for Ceylon Tea from the European Union (EU) this September, with intentions to replicate the same move in other key markets of Ceylon Tea subsequently.

The largest superannuation fund in the country, the Employees’ Provident Fund’s (EPF) heavier tilt towards the government securities....

The International Monetary Fund (IMF) plans to support the government to come up with a strategyto safeguard financial sector stability in a potential domestic debt restructuring (DDR) scenario, a top official of the Fund said.

Public Utilities Commission of Sri Lanka (PUCSL) Chairman Janaka Ratnayake this week charged that the government is attempting to privatise the Ceylon Electricity Board (CEB) by breaking it into 14 entities, through the proposed Electricity Reforms B

Dialog Axiata PLC and its Malaysian parent Axiata Group Berhad and India’s Bharti Airtel Limited have entered into a binding term sheet to combine operations of Bharti Airtel Lanka, Airtel’s wholly-owned subsidiary, with Dialog Axiata.

Sri Lanka’s banking sector has sought more clarity and transparency from the government on the recently proposed Domestic Debt....

The Colombo district inflation fell sharply in April, as the higher base effects from last year kicked in while the commodities prices are cooling, on the back of easing supply conditions and the relative strength in the rupee, which reduced the pric

In terms of Section 35 of the Monetary Law Act No. 58 of 1949, the seventy third Annual Report of the Monetary Board of the Central Bank of Sri Lanka was presented yesterday to President Ranil Wickremesinghe, who is also the Minister of Finance, Econ

Sri Lanka plans to continue bilateral debt restructuring negotiations with the Paris Club creditors and India on a common platform and with China separately, without any prior conditions, in order to reach debt sustainability by restructuring the cou

The tax collections by Inland Revenue Department (IRD) rose by a record 216 percent Year-on-Year (YoY) to Rs.316.62 billion in the first quarter of this year driven by changes in the tax policy and gradual....

The tax collections by the Inland Revenue Department (IRD) rose by a record 216 percent year-on-year (YoY) to Rs.316.62 billion in the first quarter of this year, driven by the changes in the tax policy and gradual recovery of economic activities, ac

The government is eyeing US$ 2 billion worth of investments to build the proposed North Port of Colombo consisting of three....

Sri Lanka’s aspiration to become a major logistics hub in the region took a giant leap forward yesterday, with the launch of a project to build the largest commercial and logistics complex in South Asia in the Port of Colombo, with an investment of

Sri Lanka’s tea exports dipped 22 percent year-on-year (YoY) to 17.97 MnKgs in March continuing the declining trend seen in both tea production and exports in recent times, the data released by Forbes & Walker Tea Brokers showed.

The Sri Lanka All Telecommunication Employees Union yesterday filed a fundamental rights (FR) petition in the Supreme Court, seeking an order restraining the Treasury Secretary from taking any steps to divest the shares held by him in Sri Lanka Telec

The government plans to spend a record Rs.206 billion per annum in welfare expenditure starting from this July under a new programme prepared in line with Welfare Benefits Board Act to assist the poor and...

Sri Lanka’s largest private sector healthcare provider Asiri Hospital Holdings PLC, a unit of Softlogic Group, in a landmark announcement yesterday disclosed its plans to set up a state-of-the-art hospital within China-backed Port City Colombo (PCC

Foreign interest in Treasury bills and bonds was seen growing steadily in the recent few weeks reflecting their readiness to bet on the future trajectory of the Sri Lanka’s economy. As per the data available....

The International Monetary Fund (IMF) slightly lowered its outlook for the global economy on Tuesday, while predicting that most countries will avoid a recession this year despite economic worries and geopolitical strains.

Amid high demand, Russia’s outbound tour operators have decided to extend winter flight programmes to Sri Lanka in the upcoming....

The tourist arrivals to Sri Lanka were recorded at 26,912 in the first week of April, the provisional data from the Sri Lanka Tourism Development Authority showed.

Underscoring what the Central Bank Governor Dr. Nandalal Weerasinghe said on an early finish to the debt restructuring, the former Central Bank Governor....

Earnings from tourism almost touched the US $ 200 million mark in the month of March, while such earnings for the first quarter topped US $ 500 million.

Workers’ remittances to Sri Lanka crossed the US$ 500 million mark for the first time since April 2021, data released by the Central Bank last evening showed.

The Central Bank officials expressed confidence in wrapping up the negotiations with both its bilateral and commercial creditors well prior to the first review of the International Monetary Fund (IMF)-assisted programme, which would come up in six mo

The Monetary Board of the Central Bank left the key policy rates unchanged at the current levels as financial conditions continue to ease since the government clinched the US$ 3 billion Extended Fund Facility (EFF) with the International Monetary Fun

The tourist arrivals to Sri Lanka crossed the 125,000 mark in March, recording the highest influx of international visitors since the Covid-19....