Amid the on-going conflict between Russia and Ukraine where Western nations have imposed sanctions on Russian banks, Ceylon Tea exports to Russia and Ukraine, which account for 10 percent of the country’s tea exports, have come to a grinding halt.

Sri Lanka’s reviving tourism industry is likely to hit another stumbling block, due to the ongoing invasion of Ukraine by Russia. The conflict will have direct implications on the number of tourist arrivals into the island nation.

The worker remittance income plummeted in January, continuing the months-long bleeding in the largest foreign income earner to the country, reflecting that the incentives offered by the authorities haven’t been effective in wooing migrants to use t

Pulling Sri Lanka out from the darkness it has plunged into requires a market-driven price formula. The mechanism is necessary for the nation to effectively steer away from an energy crisis, an independent economic think tank said.

The long-delayed global tourism campaign will receive funding assistance from the Treasury with Finance Minister Basil Rajapaksa having agreed to extend US $ 56 million for the effort.

In line with Colombo prices, the national consumer prices too climbed in January reaching its highest levels since officials began compiling data for the index in October 2015 as food prices climbed and the non-food prices continued to gain pace.

Following the conclusion of its successful listing on the Colombo Stock Exchange, Hela Apparel Holdings has expanded its global footprint by formally commencing operations at its latest factory in Egypt recently.

The national economy is increasingly feeling the brunt from the shortage of foreign currency to fuel economic activities. However, the Central Bank expressed confidence in securing enough funds to bolster reserves in the coming months.

The Ceylon Motor Traders Association (CMTA) yesterday raised concerns about the difficulties in establishing letter of credit (LC) facilities with regards to spare parts orders.

Sri Lanka’s hotel sector yesterday asserted that the proposed blackouts for large-scale electricity consumers will be detrimental for the tourism industry, given that it is only beginning to slowly recover from the massive hit experienced in the la

Amid the ongoing foreign exchange crisis, President Gotabaya Rajapaksa has appointed three Cabinet Sub-Committees chaired by Foreign Relations Affairs Minster Prof. G.L. Peiris to lead negotiations with China, Japan and the Middle East, to secure imp

The Board of Investment (BOI) yesterday said twenty BOI enterprises recently entered into supplementary agreements collectively worth US$ 165 million to expand their existing operations.

The membership of the Ceylon Chamber of Commerce (CCC) yesterday expressed serious concerns on the provisions of the Surcharge Tax Bill that has been gazetted recently to implement the budget proposal on same.

A comparison of remittance inflows to selected South Asian nations between 2020 and 2021 showed Sri Lanka has had the worst record with negative growth in inflows last year, reflecting diverging fortunes between nations based on their foreign exchang

Sri Lanka recorded its highest monthly trade deficit in December 2021, as imports surged to their highest ever monthly value amid significantly increased expenditure on oil imports, the trade data released by the Central Bank showed.

The lockdowns and the subsequent restrictions on economic activities had an enormous impact on the employed population in all sectors with at least 7 percent of the paid workers having either lost or quit their employment during the first cycle of lo

The government regulations are the major bottleneck that holds back the public and state sectors from embracing digitalisation, according to Digital Technology and Enterprise Development State Minister Namal Rajapaksa.

Sri Lanka’s official external reserves fell to US$ 2.36 billion by the end of January 2022 from US$ 3.14 billion by the end of December 2021, as the government settled foreign currency loans and funded essential imports, while taking receipt of a U

The shares of Hela Apparel Holdings Limited commenced trading on the Colombo Stock Exchange (CSE) yesterday. The shares have been listed on the Main Board of the CSE under the ‘Consumer Durables and Apparel’ sector. The occasion was marked with

Sri Lanka needs to look outside its shores to navigate out of the twin-deficit crisis (fiscal and current account deficits) stronger by focusing on untapped potential in its vast informal sector and service exports, which present enormous opportuniti

Sri Lanka this week received the much awaited Geographical Indication (GI) certification from the European Union (EU) Commission, a progress achieved after more than a decade long effort.

The government has in writing sought the advice from the International Monetary Fund (IMF) on how to tackle the prevailing economic crisis but accepting of such advice will be done only after a thorough study, Finance Minister Basil Rajapaksa said ye

The government remains hopeful of resolving the ongoing foreign exchange crisis within the next six months with Finance Minister Basil Rajapaksa and Central Bank Governor Ajith Nivard Cabraal leading the negotiations with the country’s creditors an

Sri Lanka can comfortably accommodate all essential imports plus non-essential goods without any disruption or shortages from the inflows envisaged, according to Central Bank Governor Ajith Nivard Cabraal.

The local small and medium enterprises (SMEs) will receive fresh impetus to enter the European Union (EU) market, with Sri Lanka being selected as one of the four hubs to launch the Import Promotion Desk (IPD).

Sri Lankans may need to brace for a new wave of consumer price pressures from around April with the one-off taxes proposed in the budget for this year coming into effect, according leading finance professionals and tax experts in the country.

As a large amount of the initial public offering (IPO) shares of companies get often allocated to so-called undisclosed eligible investors, market participants are calling for the disclosure of such shareholders in a bid to bring in transparency to t

Following the repayment of half a billion dollar bond last week, the Central Bank Governor Ajith Nivard Cabraal this week expressed confidence in settling the billion dollar sovereign bond maturing this July.

Sri Lanka’s Small Hydro Power Developers Association (SHPDA), which boats a combined installed capacity of 440MW, seeks a reasonable upward revision to feed in tariff to realise the remaining 150MW potential in the small and medium-scale hydropower

Access Engineering Group plans to build Sri Lanka’s largest warehousing complex in Ekala with an overall estimated investment of US$250 million, which will be leased out to a leading multinational company.