State revenues received a tailwind from the recently introduced tax hikes and inflation that climbed to 70 percent levels helping the government to control the unrestrained budget deficit, which has been....

The Central Bank of Sri Lanka (CBSL) recently said that it was awaiting the Reserve Bank of India’s (RBI) approval to classify the Indian rupee (INR) as a designated foreign currency in Sri Lanka.

Outstanding credit card balance has dipped by a little in October in a dual sign that banks may be tightening their credit card standards while consumers are also pulling back on their spending without....

As Sri Lanka is currently witnessing a long awaited revival in its thrice-battered tourism industry, the country saw the earnings from the trade surpassing US$ 100 million in November after languishing for months....

Putting equal onus on rich global north and developing global south, the Paris Club creditor nations are proposing a 10-year moratorium on Sri Lankan debt and another 15 years of debt restructuring....

The Central Bank last week issued a fresh set of guidelines to the country’s Licensed Finance Companies (LFCs) on sustainable finance activities as part of the broader transition towards embracing.....

The real estate unit of Indian billionaire Gautam Adani’s Adani Enterprises has won the right to redevelop India’s largest slum, Mumbai’s Dharavi neighbourhood, with a 50 billion rupee (US$ 612 million) bid....

Baby Cheramy, the most loved baby care brand in Sri Lanka, recently launched the Baby Cheramy Safety Institute, with the aim of uplifting safety standards and innovating best quality....

98 Acres Resort & Spa, a subsidiary of U.H.E. Group, was recently awarded as the Number 1 Luxury Mountain Resort in Asia, at the recently held 16th World Luxury Hotel Awards (2022) in Antalya....

Intrepid Travel, the world’s largest adventure travel company and a leader in responsible small group adventures, recently announced the appointment of Anu (Anuruddha) Karunatilaka as its new Chief Technology...

The winners of the 29th Campaign Asia Pacific’s Agency of the Year Awards were announced in Mumbai recently and Ogilvy Group Sri Lanka continued its winning streak at the highly respected awards....

Cinnamon Air, Sri Lanka’s premier domestic airline, has resumed daily scheduled flights after a temporary suspension during the COVID-19 pandemic.

Fitch Ratings yesterday downgraded Sri Lanka’s Long-Term Local-Currency Issuer Default Rating (IDR) to ‘CC’, from ‘CCC’, citing probable risks pertaining to restructuring of domestic debt.

The Tourism Ministry announced this week an ambitious target of luring 1.5 million international visitors to the country and fetching an income amounting to US $ 5 billion in 2023.

The French Development Agency (AFD) signed a grant agreement worth 450,000 euros with the Ceylon Electricity Board (CEB) and Electricité de France (French electric utility) to support the increasing share of intermittent renewable energies in Sri La

International Monetary Fund (IMF) Managing Director Kristalina Georgieva has flagged rising inflationary pressures and China’s economic slowdown as risks to Asia’s economic outlook, calling on policymakers to rebuild their buffers against future

Exterminators PLC, Sri Lanka’s premier pest management and environmental technology company, yesterday transferred its shares to the Diri Savi Board of the Colombo Stock Exchange (CSE).

The offerings at the Colombo Tea Auction continued to record a further decline. This week’s auction quantities totalled 4.2 MnKgs, of which Ex-Estate offerings comprised of 0.6 MnKgs. The offerings met with good demand.

State Minister of Finance Ranjith Siyambalapitiya has ordered the Commissioner General of Inland Revenue (IRD) to submit a report on the department’s failure to collect Rs.773.96 billion in taxes, penalties and interest.

The major shareholder of Union Bank of Colombo PLC has entered into a share sale and purchase agreement with a private equity fund owned by Nepal’s CG Corp Global controlled by billionaire Binod Chaudhary to sell its entire stake in the bank.

The government has decided to extend the deadline for filing income tax returns as the tax filing system is overloaded with the majority of people rushing to submit their tax returns before November 30 deadline.

The Commercial Bank of Ceylon has announced that its Rs.10 billion debenture issue closed within hours of opening after it was oversubscribed on the opening day (1st December 2022), in a noteworthy vote of confidence from investors.

The Ceylon Chamber of Commerce (CCC) yesterday called on the government to fully or partially divest State-owned enterprises (SoEs) that are purely engaged in commercial activities that have the capabilities to function more effectively and efficient

Central Bank (CB) Governor Dr. Nandalal Weerasinghe has emerged as the most trusted and the only person commanding the trust of the majority of Sri Lankans to carry out economic reforms in resolving the present economic crisis, according to the ‘Ec

IFC has appointed Alejandro Alvarez de la Campa as the new Country Manager for Sri Lanka and Maldives.

The Minister of Plantation Industries Ramesh Pathirana revealed that a proposal has been submitted to the Cabinet of Ministers to acquire underutilised land owned by Regional Plantation Companies (RPCs).

It is undeniable that China has been Sri Lanka’s largest bilateral creditor stemming from the economic relationship, which goes back 70 years to the Rice-Rubber Pact signed between the two countries in 1952 as one of the first trade agreements betw

Sri Lanka crossed the billion dollar milestone in earnings from tourism in October when the country earned US$ 75.6 million from the trade, which is providing a glimmer of hope for the country’s economy beset by acute shortages of foreign currency

The annual headline inflation in Colombo district for November fell for the second consecutive month to 61.0 percent from 66.0 percent in October as food prices eased off, though the prices of services remained rather sticky.