Over 35,000 Sri Lankan migrant workers still remain stranded mainly in the Gulf countries, awaiting return to the country amid the job losses triggered by the coronavirus (COVID-19) pandemic, according to the Sri Lanka Foreign Employment Bureau (SLFE

The state-imposed import controls are likely to further hamper the country’s growth prospects while advisedly impacting the businesses that rely on imported raw materials, including exporters, Colombo-based policy think tank Advocata Institute said

The government of Japan has agreed to provide a grant of Yen 800 million (Rs.1,360 million) to Sri Lanka to support the country’s fight against COVID-19.

Sri Lanka was singled out on the world stage yesterday when the leading global asset manager, Aberdeen Standard Investments advised the investors to “be careful” about frontier markets such as the island nation, even though Asia and emerging mark

The government’s sudden policy decision to ban the cultivation of oil palm incurred a loss of Rs.75 million for Malwatte Valley Plantations PLC and Regional Plantation Companies (RPCs) are pursuing litigation measures against the ban, which is base

Sri Lanka is ranked second among 250 global start-up ecosystems for affordable talent, securing the top spot in the Asia Pacific region, according to the 2020 Global Startup Ecosystem Report (GSER) by Startup Genome and the Global Entrepreneurship Ne

Talal Rafi has been nominated by the World Economic Forum as a Young Global Leader 2021.

Sri Lanka’s budget deficit for January through April expanded to 2.9 percent of gross domestic product (GDP), from 2.3 percent in the corresponding period, last year, as the coronavirus lockdowns sapped the tax revenues while the government had to

While Sri Lanka would be among the few markets in Asia to avoid a contraction in its insurance business this year, the industry will make a swift recovery from 2021 and could clock in a 10 percent growth every year on average in the next 10 years to

The government refutes the claims on any changes to the special interest scheme for senior citizens’ fixed deposits while assuring the scheme would continue with the prevailed interest rate up to now.

Sri Lanka tourism has received a much-required impetus for revival with the British public service broadcaster, the British Broadcasting Corporation (BBC) having come on board to promote the island nation to the world.

Sri Lanka Tourism yesterday said they were working closely with the Foreign Affairs Ministry to include Sri Lanka in developing travel corridors for travel with no quarantine overseas, for returning tourists or visiting Sri Lankans.

Sri Lanka is facing the second most significant deterioration in debt affordability among the non-investment grade sovereigns, amid the erosion in its revenue base and upcoming external debt maturities, according to Moody’s Investors Services.

Earnings from the tourism trade, Sri Lanka’s second largest foreign currency income after worker remittances, took nearly a 50 percent plunge during the first six months to June, as all forms of cross-border travel were suspended from mid-March sin

Senior economist Dr. Kenneth De Zilwa has been invited to take over the Chairmanship of the reconstituted Financial System Stability Consultative Committee (FSSCC) of the Central Bank (CB) by CB Governor Prof. W.D. Lakshman, with effect from this mon

Sri Lanka’s tourism sector is likely to have its 3.5 million euro grant by the Europe Union (EU) upped to 4 million euros, where the additional funds would be allocated to assist the revival of the tourism industry SMEs hit by the coronavirus pande

The suspension of the business of controversial primary dealer Perpetual Treasuries Limited has been extended by another six months, the Central Bank said yesterday.

The local micro, small and medium enterprises (MSMEs) continue to be underserved by the country’s banking and insurance industry, a national study revealed and the failure of an intervention along with the absence of the necessary stimulus during t

Total credit to private individuals and businesses by the banking sector declined by Rs.69.6 billion in May as loan settlements by borrowers who were capable of continuing to service their loans overtook the new loans granted in the month where not m

Sri Lanka’s unemployment rate rose to 5.7 percent in the first quarter of 2020 from 4.5 percent in the fourth quarter in 2019 and 4.7 percent a year ago as the pandemic-induced business closures limited economic operations from the third week of Ma

Bank of Ceylon (BOC), the largest bank and the market leader in the financial services sector in Sri Lanka, launched a private placement of Basel III compliant, unlisted, unsecured, subordinated, perpetual, additional Tier I capital bond issue with n

Open source technology provider, WSO2 said its employees would continue to work from home till the end of 2020 although the government has given the clearance for both the public and the private sector to resume operations from May 11.

The Commercial Bank of Ceylon has brought honour to the country’s banking industry by moving up 51 places on the World’s Top 1000 Banks ranking for 2020, and become the only Sri Lankan bank to be on this prestigious list for 10 years in a row.

Sri Lanka is not among the list of 67 countries that has been exempted from the Global Travel Advisory or border restrictions for the British nationals against all but essential international travel at the initial stage, the British High Commission i

Japan’s huge public pension fund, the world’s biggest, said yesterday it had suffered its largest annual loss since the global financial crisis, as markets tumbled amid the coronavirus pandemic.

The Central Bank (CB) dismissed concerns over potential money laundering activities linked to the recently introduced Special Deposit Accounts (SDAs) while stressing that the exemptions granted from procedural requirements are provided under the pro

Cyprus decided yesterday to welcome tourists from Britain, its largest market, from 1 August if that country’s coronavirus outbreak remains on a downward trend.

Asian investors welcomed a forecast-busting US jobs report to send regional equities higher yesterday, though an acceleration in virus infections across the world’s top economy tempered big gains.

The 3rd Annual General Meeting of the Tourism Industry Skills Council (TISC) was held on June 11th at the NAITA Auditorium in the presence of senior officials from the respective associations and ex-officios from the public sector institutions.

The IMF and the international business community expressed deep concern Thursday after the governor of Ukraine’s central bank resigned citing political pressure.