C. W. Mackie PLC, one of Sri Lanka’s leading and longest-standing diversified conglomerates, published its integrated annual report for the 22/23 financial year, highlighting the Company’s resilience during a period defined by unprecedented chall

Ocean Lanka (Pvt) Ltd, the joint venture between Fountain Set (Holdings) Limited, Brandix Lanka Limited, and Hirdaramani Group, inaugurated its new office premises recently. The momentous occasion was celebrated with a grand ceremony, symbolizing a

With a population of 1.4 billion and among the fastest growing economies in the world, Sri Lanka is in a vantage position to benefit and learn from the world’s sixth largest economy. Within India, Sri Lanka should further strengthen its strategic r

DFCC Bank PLC this week announced its accreditation by the Green Climate Fund (GCF), making it the first Sri Lankan entity to achieve this significant milestone. This accreditation empowers DFCC Bank to access concessionary funding for projects with

The board of the Indian CEO Forum-Sri Lanka (ICF) recently met Tata Sons Chairman Natarajan Chandrasekaran, who was on a visit to Sri Lanka. The ICF had an interactive meeting with Chandrasekaran and highlighted on the positive environment opportunit

Eight Sri Lankan business conglomerates have signed agreements to pursue commercial mediation to settle disputes as opposed to always using litigation, a move that will help make the Sri Lankan judicial system more efficient and effective by reducing

Shifting to a more productive and outward-looking economy

The European Commission has proposed a four-year extension to the current GSP+ scheme, until December 31, 2027, so that countries such as Sri Lanka do not lose their preferential access in the interim.

The next two years would be critical for Sri Lanka’s recovery, the World Bank (WB) Country Director for Sri Lanka said, while cautioning that there are further significant headwinds that need to be closely monitored. WB Country Director for the Mal

Sri Lanka has signed financing agreements to secure a grant of EUR 9.8 million from the World Bank, European Union (EU) and Française de Développement (AFD) to strengthen the country’s management of public finances. The grant aims to support impr

For the second consecutive week, yields increased at the weekly bill auction, indicating tight liquidity in the system and a preference among investors for bonds, which continue to offer relatively higher yields for longer tenures. This trend comes

Sr Lanka has signed financing agreements to secure a grant of EUR 9.8 million from the World Bank, European Union (EU)and Française de Développement (AFD) to strengthen the country’s management of public finances.

The European Commission has proposed a four-year extension to the current GSP+ scheme until 31 Dec 2027, so that countries, such as Sri Lanka, do not lose their preferential access in the interim.

Financial assets are unlikely to come under the proposed wealth tax, which is set to come into effect in 2025, due to practical difficulties and complex nature in administration and tax collection, according to a top tax expert.

Sri Lanka’s industrial sector heft took a surprising dive in May reflecting weaknesses in the apparel sector, which has been going....

Sri Lanka’s tea production for the month of June grew by 13.4 percent Year-on-Year (YoY) to 22.9 MnKgs, contributing to the marginal...

India’s HCL Technologies (HCL), a leading global technology company, which already has a strong presence in Sri Lanka, is exploring....

Cabinet green light has been granted to draft a bill amending the Inland Revenue Act to revise income tax rates levied on the interest income earned from Treasury bonds by superannuation funds, if the fund holders disagree with the domestic debt opti

Sri Lanka’s industrial heft took a surprising dive in May reflecting weaknesses in the apparel sector, which has been going through a bad patch due to softening global demand in response to inflation and higher...

The Sri Lanka Tourism Promotion Bureau (SLTPB), in collaboration with Airport and Aviation Services, organised a special ceremony to celebrate 100,000 tourist arrivals from the Russian Federation through...

Sri Lanka’s manufacturing activities continued to underperform in the month of June while services activities recorded a healthy performance. Manufacturing PMI recorded...

Undervalued stocks on the back of a recovering economy, backed by critical reforms, present investors with a rare investment opportunity to come into the market, according to Colombo Stock Exchange...

The Cabinet nod has been granted to extend the Embarkation Levy exemption for Jaffna International Airport by six months. Minister of Ports, Shipping....

The Cabinet nod has been granted to enter into an agreement with the European Union (EU) to secure euro 15 million grant to implement a project aimed at promoting the circular economy in the food...

The ASPI closed in green as a result of price gains in counters such as Commercial Bank, Hatton National Bank and Ceylinco Insurance with the turnover crossing Rs. 3.1 bn. Similar behavior...

The country became insolvent after the government of President GR granted massive tax concessions, Leader of Opposition SP was quoted as saying in Parliament on July 6, when the Speaker announced...

Debt restructuring is fundamentally about allocating the associated economic costs to someone. The onus is typically on the debtor country to secure participation from its creditors, applying comparable treatment....

Sri Lanka and Nepal are currently exploring the possibility of having an exchange of high-level visits and business delegations, in an effort to firm up ties between the two countries, Minister of Foreign Affairs Ali Sabry said.

As tourism activity is picking up after several challenges faced since 2019, Sri Lanka is witnessing an improved pace of tourist arrivals, and it is very likely to cross the 700,000 mark today. The provisional data released by the Sri Lanka Tourism D

With the foreign currency condition in the domestic market seeing a gradual improvement, the Central Bank (CB) appears to have taken a further conciliatory approach for imports, as it has recommended relaxing another batch of 900 goods but without ve