The Sri Lanka Tea Board (SLTB) along with industry stakeholders seeks a well-coordinated and synergised mechanism from the government to resolve the fuel and agrochemical shortages threatening Sri Lanka’s tea production and industry sustainability.

Sri Lanka’s outward labour migration in the first half of 2022 surpassed the 2021 full-year figure amid the prevailing deep economic and political crisis in the country.

Sri Lanka recorded a rare surplus in the trade account in June after nearly two decades, as merchandise export earnings hit a fresh high while imports continued on the downward spiral reaching new lows.

The earnings from merchandise exports expanded by 20 percent year-on-year (YoY) in the month of June, fetching foreign exchange earnings amounting to US $ 1,208 million.

China continuously pops up as one of the key sticking points for Sri Lanka to reach the much needed debt sustainability as Fitch Rating this week too weighed in on the matter saying that the world’s second biggest economy could complicate the islan

John Keells Holdings PLC (JKH) reported some robust top and bottom-line performance in the three months to June (1Q23), despite the multiple vagaries coming from the economic crisis, as the business activity reached its pre-pandemic levels across all

The status of Sri Lanka’s fast-crumbling economy has been attributed to many factors, but the key reason for the downfall of the island nation is that it has been on a ‘champagne diet with a kassipu income’ for a bit too long, according to a to

Sri Lanka has asked China to help with trade, investment and tourism to help it grow sustainably, Colombo’s envoy to Beijing....

Dialog Axiata PLC (Dialog) is set to expand and improve broadband connectivity across the country with International Finance Corporation’s .....

Sri Lanka canvassed oil companies in petroleum-producing nations yesterday to import and sell their products in the Indian Ocean....

Sri Lankan exporters are set to experience increased air freight rates amid capacity constraints stemming from reduced frequencies and limits on payloads, caused by the acute jet fuel shortage in the country.

With no credible solution in sight to resolve the jet fuel shortage and the fund repatriation issues faced by the country’s aviation industry, several airlines are contemplating on suspending their operations to Sri Lanka threatening tourism indust

In order to ensure the implementation of an effective tariff revision, which sustainably addresses Sri Lanka’s energy requirements, the Ceylon Chamber of Commerce (CCC) submitted suggestions and recommendations on the proposed electricity tariffs t

Crisis-struck Sri Lanka need not wait for support from the International Monetary Fund (IMF) to get its act straight, and must get about rolling out fiscal reforms at the earliest to help ease the ongoing pressures stemming from economic mismanagemen

The current economic conditions could grind on till Sri Lanka strikes an agreement with the International Monetary Fund (IMF), which will unlock other sources of funding, as bridge financing, which the authorities were hoping for in the interim, rema

Explaining the reasons why a blanket moratorium could not be deployed to assist the crisis-hit borrowers this time, the Central Bank said its responsibility is to protect the interests of both lenders and depositors and overdoing to protect one’s i

The International Monetary Fund (IMF) yesterday said it is in the creditors’ interest for them to come on board with efforts to restructure Sri Lanka’s debt faster, as it would ensure they recover their money at a future date when they help to fa

India has surpassed China to become the top lender to Sri Lanka, as the former came to the rescue when Sri Lanka started experiencing some acute shortage of foreign currency from the beginning of the year which reached a breaking point in March causi

Fitch Ratings this week warned that Sri Lanka’s export and tourism sectors are likely to take a hit from the possible recession in the eurozone and it could further exacerbate the country’s actuate foreign exchange shortage.

The hotel sector in the country has lost the bulk of its business in a matter of days due to the irrational decision-making of the authorities.

Despite the current leadership vacuum in the country, a reputed economist remains optimistic of the prospects of Sri Lanka securing a rescue package from the International Monetary Fund (IMF) by September-October and following a staff-level agreement

The losses at SriLankan Airlines for the first four months to April topped Rs.248.4 billion in 2022, including one-time exchange loss of Rs.145 billion that came in March due to the collapse of the rupee against the dollar,

Granting a narrow cumulative trade deficit over the last year for the first time this year, Sri Lanka’s import bill fell to an 18-month low in May amid the forex crisis, rupee depreciation and import control measures.

The remittances in June undid even the slightest gains made in May, as the key foreign income earner to the country is continued to be beset by the informal channels, which appear to be still functioning regardless of the actions taken to clamp down

After delivering a much-anticipated rate hike, yet short of the size some expected, the Central Bank said it is ready to take further steps to rein in inflation and bring it to its desired 4 to 6 percent range, which is at least 12 to 18 months away

Amid growing hyperinflation concerns, the Monetary Board of the Central Bank (CB) jacked up the policy interest rates by 100 basis points after a bumper 700 basis point hike in April.

In line with the expectations, the Treasury bill yields jumped the most since April, signalling another bumper rate hike announcement today, as the Central Bank allowed the bill and bond yields to go up since last week amid the worsening economic cri

Prime Minister Ranil Wickremesinghe yesterday told parliament that any deal with the International Monetary Fund (IMF) could only be struck if and when Sri Lanka shows its plans to restore debt sustainability, which he said could happen by August.

As China is in dilemma while the rest of the world has qualms over helping Sri Lanka, India could deepen its role in bailing out its debt-strangled neighbour by giving the leadership for the proposed donor consortium,

In an effort to step up the nation’s game in luring in foreign direct investments (FDI), Sri Lanka’s investment promotion agency, the Board of Investment (BOI), launched yesterday the five-year residence visa programme dedicated to investors.