A trade union representing executive officers of the Central Bank of Sri Lanka has warned Prime Minister and Finance Minister Ranil Wickremesinghe over possible negative consequences of appointing Governors without prior central banking experience,

The producer prices touched a new all-time high in April reflecting that the supplier inflation is charging ruthlessly before getting passed down to the consumers by way of consumer price inflation, which also hit 40 percent in May.

The government is actively looking for a credible partner to jointly manage the loss-making Mahinda Rajapaksa International Airport (MRIA) in Mattala in order to transform it to a profitable entity.

Sri Lanka’s first electric smart bicycle, Rhoda aims to put 100,000 electric smart bicycles on the roads within five years, gradually enhancing its production capacity.

Sri Lanka may be compelled to buy more oil from Russia as the nation faces shortages amid an unprecedented economic crisis, its Prime Minister told the Associated Press.

Nearly 10 percent of the population or close to two million Sri Lankans were already facing acute to moderate level food insecurity even before the country entered the pandemic, which precipitated into an all out economic collapse, the data showed.

London-based leading tour operator TUI made a fresh announcement this week that it has decided to extend the cancellation of holidays to Sri Lanka until the end of the month.

While the government is looking to firm up the negotiations with the International Monetary Fund (IMF), so that it can reach out to the other potential sources of finances to pull the economy out of the current crisis,

The offering at the Colombo Tea Auction declined to 5.6 MnKgs, from 6.7 MnKgs in the previous week. However, the quantities were met with improved demand.

The national tea sales average for the month of May 2022 recorded Rs.1,324.95 (US $ 3.71), showing a marginal decline from the highest ever recorded average, which was in April 2022.

President Gotabaya Rajapaksa yesterday called on for a collective effort to revive hard-hit tourism and asserted the need to formulate new approaches to lure international visitors to the country.

The month of May has recorded the highest goods price increase in the last 18 years with the Bath Curry Indicator (BCI), which tracks changes in the retail price of food, recording its highest ever increase of 71 percent from May 2021 to May 2022.

CIC Holdings PLC, one of Sri Lanka’s leading diversified conglomerates, shared it is gearing up to face the massive economic challenges that are likely to impact operations in the coming months, as the inflationary pressures, dollar crisis and rupe

Loan rejections are expected to hit an extremely high level in the ongoing quarter as banks have tightened credit conditions as they grow extremely skittish over the ability of applicants to service their facilities amid the economic crisis that has

The Central Bank this week issued fresh direction to banks, completely rescinding all previous instructions hitherto been in effect since December last year, imposing caps on foreign currency deposits and swap transactions, as they have become futile

Sri Lanka’s most comprehensive development regulations - the Development Control Regulations (DCR) - introduced by Port City Colombo, was gazetted recently and is now being enforced.

The Chinese government has expressed its willingness to cooperate with Sri Lanka’s bilateral creditors including India and international financial institutions in the country’s debt restructuring process in order to reach a feasible solution expe

The local transport and logistics sector has conceptualised a 20-point plan entailing tough measures to help trim the country’s fuel import bill, which if implemented is expected to save about US$ 0.5 to 1 billion per annum.

Sri Lanka’s tile manufacturers, who continue to gain from the import ban imposed on tiles by the government, are worried whether the momentum can be maintained going forward as challenges mount in sourcing raw material from foreign suppliers.

The Road Development Authority (RDA) was called out recently by parliament as a leading State owned Enterprises with massive scale financial mismanagement as it has failed horribly in managing its finances according to protocols.

Ultra Aluminum Private Limited recently unveiled its latest Board of Investment (BOI)-approved factory in Arayampathy, Batticaloa, which manufactures an import substitute known as aluminum extrusion profiles and thereby saving a significant dollar fl

Interchemie werken ‘De Adelaar’ B.V, one of the largest manufacturers of veterinary products in the world, has appointed Dymec (Pvt.) Ltd, which is a leading edge and fast growing company in the veterinary pharmaceutical industry in Sri Lanka, as

Premier Ranil Wickremesinghe this week disclosed how the former officials at the front seats of driving the economy into the current abyss continuously held back the truth about the Chinese swap and took the press and entire public for a ride for nea

As the government has already announced plans for debt forgiveness to small-scale and household farmers with less than two hectares of farmlands, the Central Bank could also announce another cycle of payment holidays for the affected parties from the

The local export sector reiterated the need for Sri Lanka to have “robust” policies to continue its operations in the local market and sustain in the global markets.

Sri Lanka’s official reserve assets edged up in May but not even close to bring any kind of stability to the domestic foreign exchange markets or to restore the normal outflows in respect of fuel, gas and other essential imports, as US $ 1.5 billio

The Treasury bill yields continued their descent for the third consecutive week yesterday, as all three tenures shed yields once again amid realisation that the bills had reached their peak levels a month ago after going through a sharp correction in

While urging the local investors to come forward, the government plans to complete the restructuring process of loss-making SriLankan Airlines in a transparent manner within this year.

The World Bank on Tuesday slashed its global growth forecast by nearly a third to 2.9 percent for 2022, warning that Russia’s invasion of Ukraine has compounded the damage from the COVID-19 pandemic and many countries now faced recession.

The trendsetter in the modern trade industry GLOMARK from Softlogic Supermarkets (Pvt) Ltd., recently opened its newest outlet in Negombo Road, Rilaulla, Kandana.