Amid continuous opposition from the Regional Plantation Companies (RPCs) to implement the proposed Rs.1, 000 daily wage for plantation workers, Labour Minister Nimal Siripala de Silva is expected to present a proposal to the Cabinet of Ministers toda

Indian External Affairs Minister Dr. S. Jaishankar on Thursday interacted with the captains of Sri Lankan business and industry that represented prominent business conglomerates and manufacturing entities in the country.

The local tourism sector was issued with a fresh set of health guidelines this week to accommodate international travellers in the coming months with the anticipated opening up of the country’s airports for tourism by end of this month.

Sri Lanka’s tea output is projected to recover this year, following an estimated 10 percent or 30 M/Kgs year-on-year (YoY) decline in the output in 2020, mainly due to the adverse weather conditions prevailed in the country, according to Forbes & W

The World Bank projects Sri Lanka’s economy to grow at the modest rate of 3.3 percent this year before decelerating to 2 percent in 2022, the global lender said in its January 2021 Global Economic Prospects report released this week.

With Sri Lanka’s economy estimated to have recorded a contraction in 2020, the country’s Central Bank (CB) yesterday assured continuous monetary and fiscal interventions to support the economy to regain its “lost momentum” to the COVID-19 pan

Losses of State-owned enterprises (SOEs) spiked to Rs.10.4 billion in the eight months to August, 2020, from a combined loss of Rs.1.1 billion in the whole of 2019, predominantly due to the earnings swoon in key State-run banks and the insurance comp

Headline inflation, as measured by the year-on-year (YoY) change in the Colombo Consumer Price Index (CCPI) increased marginally to 4.2 percent in December 2020 from 4.1 percent in November 2020.

The Sri Lankan stock market ended 2020 on a positive note yesterday, marking a year in which the Colombo Stock Exchange (CSE) has seen indices indicate noteworthy resilience and attract record-breaking levels of trading activity.

Stakeholders of Sri Lanka’s tourism industry yesterday assured that the ongoing pilot project carried out as a first step towards re-opening the country for tourists, is going ahead as planned despite some expected hiccups, for which appropriate co

The Ministry of Tourism on Sunday (27) put out a set of modified protocols that are to be followed and the responsibilities of each stakeholder so that the execution of the ongoing pilot project aiming to review the country’s tourism industry amid

President Gotabhaya Rajapaksa on Saturday (26) visited Pahalagama, Elapattu in Anuradhapura and inspected the damage caused to maize cultivation by the fall armyworm caterpillar.

Sri Lanka’s merchandise export earnings suffered for the second consecutive month in November due to the adverse impact of the second wave of COVID-19 pandemic that began in early October, which slowed down manufacturing and disrupted port related

Taking a cue from the success of the smallholder sector, Sri Lanka’s Regional Plantation Companies (RPCs) have handed over a fresh proposal aimed at radically expanding worker earnings during a recently concluded meeting with the Labour Minister an

The government yesterday reaffirmed its commitment to reach a final decision on the East Container Terminal (ECT) of Colombo Port after scientifically analysing all factors related to the terminal from an international business perspective.

Despite the recent rating downgrades on elevated debt repayment risks, Sri Lanka has significantly cut down its reliance on foreign debt to fund budgets as the government’s balance sheet showed a net repayment of such debt.

The government revenue declined in the nine months to September as the economic toll of COVID-19 took hold on businesses and consumption, which generate tax income, as economic activities contained to a greater degree in the period.

Sluggish economic activity, external and domestic vulnerabilities, muted private credit growth and the sovereign’s weakened credit profile are significant downside risks to the operating environment for Sri Lankan banks, Fitch Ratings said in a new

Despite the doom and gloom forecasts by global rating agencies and the second wave of COVID-19 reaching community level, the government is optimistic that the best is within reach.

Despite the doom and gloom forecasts by global rating agencies and the second wave of COVID-19 reaching community level, the government is optimistic that the best is within reach.

Hit by COVID-19, Sri Lanka’s economic growth contracted by a whopping 16.3 percent in the second quarter (April-June) of this year, recording the largest ever drop recorded in the country’s history but recovered to a growth of 1.5 percent in the

Improvement in Sri Lanka’s external sector performance continued in October as well with the trade deficit narrowing further largely due to restrictions imposed on non-essential imports, and the lower oil bill.

Sri Lanka’s foreign reserves buffer fell over US$ 300 million to US$ 5,549.3 million by the end-November, from US$ 5,855.7 million by end-October, while the Central Bank continues to remain a net buyer of foreign exchange to prop up reserves as wel

The Finance Ministry this week announced the immediate implementation of a range of loan schemes proposed in Budget 2021, targeted at state and private sector employees, small and medium enterprises (SMEs) and dairy farmers.

An International Monetary Fund (IMF)-backed deal is inevitable for Sri Lanka’s government that is in denial of the looming debt crisis, the research arm of Citibank, Citi Research said.

Sri Lanka could manage the upcoming US $ 1 billion international sovereign bond (ISB) settlement in July, next year and current account deficit in the first half of the year, with US $ 500 million in net bilateral or multilateral funding while keepin

The Cabinet of Ministers has cleared tax holidays to the tune of US$300 million for the proposed tyre plant by China’s Shandong Haohua Tire Co. Limited in the industrial park within the Hambantota International Port.

As Sri Lanka is cautiously gearing up to welcome tourists come January, with the government planning to relax the border control measures, the Sri Lanka Tourism Development Authority (SLTDA) yesterday asserted the importance to impose strict health p

The decision to cap mortgage-backed housing loan interest rates at 7.0 percent for salaried employees in both private and public sectors is now given life as the Monetary Board has instructed all licensed banks to disburse such loans from December 10

Severe long-term effects of the COVID-19 pandemic could push an additional 207 million people into extreme poverty on top of the current pandemic trajectory, bringing the total to over 1 billion by 2030, according to United Nations Development Progra