Prices at national level trended up during August, as the prices of food items and to a lesser degree the prices of non-food items rose, albeit the average prices at the broader economy still remain largely benign.

With multitude of challenges hampering the plantation sector, the Regional Plantation Companies (RPCs) last week vowed to launch a renewed effort to migrate into a productivity-based wage model linked to the commodity price replacing the current out

The government yesterday did not mince its words to clearly lay out what is expected from the country’s capital market as the stakeholders were told to venture out from their comfort zones and work judiciously towards the development and expansion

The government expects the “tough” decision to honour the country’s external debt servicing commitments imposing import restrictions, which has come at the expense of living standards of the people amid a shortfall in foreign inflows due to the

SoftBank-backed home-selling platform Opendoor is going public through a merger with a blank-check company led by venture investor Chamath Palihapitiya in a deal that will value the combined entity at US$ 4.8 billion, the companies said yesterday.

The Central Bank, together with financial institutions and LANKAQR, last weekend launched the Ratapuraama LANKAQR public awareness campaign in Matale, under the theme of ‘Mataleta LANKAQR’ (Taking LANKAQR to Matale). The chief guest of this inaug

State Minister of Money, Capital Markets and State Enterprises Reforms Ajith Nivard Cabraal has appointed an Enterprise Development Advisory Board to make local industries competitive in the international market while protecting and empowering them.

The World Bank has reallocated US$ 56 million from ongoing projects in Sri Lanka to protect the most vulnerable in the agriculture sector, improve COVID-19 protection measures on public transport, facilitate tele-education for school children, and pr

Sri Lankans have returned to save more during and in the immediate aftermath of the pandemic-induced lockdowns as they appeared to have become little more frugal in spending habits, restrained by the limited mobility and social distancing practiced t

Prime Minister Mahinda Rajapaksa, who is also the Finance Minister, has told Sri Lanka’s bank chiefs to follow a lenient policy when giving out loans.

The fast-moving consumer goods (FMCG) manufacturers in the country at the outset have endorsed the government’s decision to ban single-use sachets, an effort towards conserving the environment but stressed the need for an all-inclusive approach, on

With Yala paddy harvesting season slowly coming to an end, paddy farmers in Padaviya are seen drying their paddy harvest on the road. Based on the cultivated extent of paddy lands as at end-May, the Agriculture Department has said Yala harvest is exp

Sri Lanka - Germany Business Council of the Ceylon Chamber of Commerce organised a Breakfast Meeting at Kingsbury hotel yesterday with State Minister Ajith Nivard Cabraal for its members to obtain an overview of the financial and economic policies of

State Minister of Finance, Capital Market Development and Public Enterprise Reforms Ajith Nivard Cabraal yesterday told Sri Lanka’s capital market officials to think “out of the box” to develop the island nation’s capital market.

Colombo Port City builder, China Harbour Engineering Company (CHEC), yesterday affirmed that Sri Lanka’s upcoming mega project would not be hindered by the United States (US) blacklisting 24 Chinese state-owned companies, including the ultimate pa

It is unlikely that Sri Lanka would roll back some of the controls in place on the import of food items even though their prices have risen in recent times such as in the case of turmeric as the government appears to remain firm on re-building the ru

State Minister Ajith Nivard Cabraal received a delegation led by Hanaa Singer, Resident Coordinator, UN Sri Lanka at the Finance Ministry yesterday. State Secretary R.M.A Rathnayake also participated in the meeting.

Standard Chartered Sri Lanka announced donations totalling US$ 500,000 (approximately Rs.92.5 million) to support the fight against COVID-19 in the local community.

A four-member committee appointed to probe malpractices and irregularities in state banks has decided to obtain public assistance to collect information on such incidents.

In an effort to capture accurate and timely logistics industry data, the Export Development Board (EDB) and Department of Census and Statistics (DCS) have collaborated to set up a special data unit that will gather and analyse sector data.

Sri Lanka will soon embark on research and development (R&D) related to modern agricultural technologies with state patronage, as the focus is rapidly shifting towards building a robust domestic agricultural economy premised on achieving food securit

Nutrition value and quality of locally farmed poultry and eggs are set to take a plunge with feed manufacturers pushed to substitute the key ingredient maize with other cereal grains.

Pearl Energy (Pvt.) Ltd has signed an agreement with the Board of Investment (BOI) of Sri Lanka to set up a floating storage LNG trading facility at the Hambantota port, with an investment of US $ 97.2 million.

The Central Bank for the first time gave its forecast last week for the estimated decline in worker remittances expected in 2020 after the coronavirus related lockdowns around the world dampened the prospects for overseas jobs and such incomes.

Stakeholders of the national financial system will witness their grievances receive due emphasis hereafter as the Central Bank of Sri Lanka (CBSL) has taken a progressive step towards establishing a single point of contact to handle complaints.

The Central Bank (CB) says a substantial rebound in economic activity in the fourth quarter is essential for Sri Lanka to avert an economic contraction this year following the “unexpected” contraction in the economy in the first quarter.

Vehicle registrations in the month of July remained strong, even though lower from June, driven by existing inventories but the momentum could slow in August due to potential stockouts in certain vehicle categories as the government has put a lid on

Sri Lanka’s Kotagala Plantations PLC has become the first tea manufacturer in the world to produce tea strictly following COVID-19 health guidelines issued by the World Health Organisation. The Mount Vernon Factory in Hatton, belonging to Kotagala

Prime Minister Mahinda Rajapaksa yesterday assumed duties as the new government’s Finance Minister, at the Finance Ministry premises in Colombo.

Diversified conglomerate and export major Hayleys PLC recorded higher operating profits for the quarter ended June 30, 2020 (1Q21) as the group managed to reduce its overheads while its export-oriented business performed strongly.