The government aims to bring down the fiscal deficit to 4.4 percent of gross domestic product (GDP) this year, to be in line with the deficit target of 3.5 percent of GDP set by the International Monetary Fund (IMF) for 2020.

The note under reference hopefully will help the government to boost exports out of Sri Lanka and formulate policies for potential sectors to collectively go beyond a US $ 25 billion export economy and perhaps retain a surplus after debt redemption i

As Sri Lanka continues to perform below the potential in making finance accessible to small and medium enterprises (SMEs), compared to the nations with similar economic status, the Asian Development Bank (ADB) last week pledged it would continue to s

National Agency for Public-Private Partnership Chairman Thilan Wijesinghe last week said the government may want to revisit the already enacted privatisation agreements, including that of Sri Lanka Telecom (SLT), as there were fundamental flaws in t

ICRA Lanka Limited, a group company of Moody’s Investors Service, has further revised down the rating of debt-saddled construction firm MTD Walkers and also suspended the rating of the company.

Sri Lanka’s inflation in its capital Colombo rose to 4 percent in February on a year-on-year basis, from 3.7 percent in January, the data released by the Census and Statistics Department showed.

(Colombo) REUTERS: Sri Lankan Finance Minister Mangala Samaraweera’s 2019 budget next week will attempt to stick to the fiscal targets set by the International Monetary Fund (IMF), while raising spending on farmers and public servants to woo voters

(New Delhi) REUTERS: Johnson & Johnson has resumed production of its baby powder at plants in India after the government tests found no asbestos in the product, the company said on Thursday.

One of the lowest provincial contributors to the national GDP, Sri Lanka’s Northern Province is to be linked to the export supply chain –and not by the Province’ manufacturing output but more so by leveraging an abundant resource, the robust yo

The 17th Annual K. Sivagananathan Memorial Awards and oration will be held on March 11th. This Annual Memorial Oration and Awar

HONG KONG (AFP) - Markets rose in Asia yesterday though investors remain cautious as they await developments after the failure of the Trump-Kim summit while also keeping an eye on the stand-off between India and Pakistan. A better-than-expected readi

Sri Lanka yesterday reached a staff level agreement with the International Monetary Fund (IMF) on the fifth review of the US$ 1.5 billion 3-year Extended Fund Facility (EFF), the country first entered in June 2016. “The team reached understanding

LONDON (AFP) - London Mayor Sadiq Khan has urged Prime Minister Theresa May to delay Britain’s departure from the European Union, warning time has run out to rework her withdrawal agreement.

The Commercial Bank of Ceylon has announced it will keep 70 branches open for business on March 4th, a Public and Bank holiday in celebration of Mahasivarathri. The bank said the branches scheduled to operate on that day would include the bank’s 25

The 17th Annual K Sivagananathan Memorial Awards and oration will be held on Monday, 11th March 2019.

Profits declined at Nations Trust Bank PLC during the October–December quarter (4Q18), as the lender grappled with multiple issues stemming from higher credit costs, weak liquidity and modest growth in the demand for new loans. The banking group r

The United States is working with the Sri Lankan government and the business community to remove barriers to investment, U.S. Ambassador in Colombo Alaina B. Teplitz said. She said they are looking forward to seeing the business environment improvin

AIA Insurance Lanka PLC has upped its offer to the firm’s minority shareholders considerably in a fresh attempt to take the company private, following a failed bid to do the same in August last year.

The buyers of ETI assets yesterday said they are presently reviewing the measures to be taken to protect their investments amid misleading statements by interested parties with misguided age

Sri Lanka has reached a staff level agreement with the International Monetary Fund (IMF) on the fifth review of the US $ 1.5 billion 3-year Extended Fund Facility (EEF) the country entered in June 2016.

Access Engineering PLC has been awarded with the civil works of Ceylon Electricity Board’s (CEB) 100MW Mannar Island wind farm project that is financed by the Asian Development Bank (ADB).

(Colombo) REUTERS: Sri Lankan shares rose yesterday after declining for eight straight sessions to a four-month closing low in the previous day, as investors picked up beaten-down stocks ahead of an increase in liquidity, analysts said. The rupee cl

Prima Ceylon, the flagship company of the Prima Group Sri Lanka, celebrated four decades of successful partnerships and growing together with the nation, at an event recently in Trincomalee, where its state-of-theart flour milling complex and one of

(Colombo) REUTERS: Sri Lanka has asked the International Monetary Fund (IMF) to extend a US $1.5 billion loan by another year and relax its tight spending targets ahead of key elections, two government sources close to the negotiations told Reuters

Motorcar registrations in January saw a rebound after a sharp fall in December, but still significantly lower in registrations in January 2018, a vehicle registrations tracker by Colombo-based stock broking and research house JB Securities showed. Mo

(Colombo) REUTERS: Sri Lankan shares and the rupee closed weaker yesterday, with investors waiting for directions from next week’s budget and the outcome of talks between government authorities and the International Monetary Fund (IMF), market sour

Sri Lanka Telecom PLC’s (SLT) profits surged despite some significant foreign exchange translation losses incurred on its foreign borrowing portfolio, as the State-controlled telecom operator is pivoting towards data related services from tradition

The Financial Action Task Force (FATF), the global policy setter on anti-money laundering and countering the financing of terrorism (AML/CFT), has made the initial determination that Sri Lanka has completed its action plan

The Northern Province public representatives recently urged the government to adopt short-term employment creation schemes in the Northern Province, as skilled youth migration has spiked, due to the lack of employment opportunities for the youth in t

The renewable energy developer, Resus Energy PLC is to invest Rs.1.3 billion in a couple of hydropower and solar power projects during this year, the company said in a media statement. The company said these projects have been structured with focus