Sri Lanka will be able to have a more predictable environment for economic and social development going forward, with the government yesterday setting in motion the much-awaited national evaluation policy framework.

Transaction advisors appointed for the divestiture of seven State-owned enterprises (SOEs) have already kicked off, the process,

Sri Lanka is stepping up efforts to improve the governance and legislation framework of state-owned enterprises (SOEs), with the primary goal of significantly enhancing their performance and simultaneously mitigating the adverse impact of certain los

Although Sri Lanka’s access to international capital markets is expected to be restored “quite soon,” Central Bank Governor Dr. Nandalal Weerasinghe said there is no need for the government to explore that option.

Despite the temporary setback in tea production in Sri Lanka, due to the dry weather in August, the Sri Lanka Tea Board (SLTB) expects the tea output to exceed 260 million kilos this year and the prices to stabilise with winter buying during the next

Former Central Bank Governor and senior economist Dr. Indrajith Coomaraswamy sounded upbeat on the prospects of Sri Lanka satisfying the International Monetary Fund (IMF) in the upcoming review this month as it has exceeded expectations in certain as

Sri Lanka tourism reached a new milestone on Wednesday with over 900,000 international visitors having visited the island nation.

Sri Lanka’s upcoming global tourism campaign is slated to showcase the island nation from a new perspective, highlighting a wider range of experiences to a broader audience. The concept of the global campaign, which was launched in the second week

Continuing the declining trend in exports, Sri Lanka recorded US$ 1.02 billion export earnings for the month of July, down 11.79 percent year-on-year....

Global digital payments leader Visa plans to launch its Visa Government Solutions (VGS) in Sri Lanka, to help improve the nation’s payment infrastructure. The VGS is expected to bring technologies to Sri Lanka, which will focus on transparency and

In a bid to quicken the decline in lending rates in the economy in line with the recent policy rate cuts, the Central Bank has directed banks to cut rupee loan rates by 250 basis points by October-end and by a further 100 basis points by December-end

Sri Lanka has a clear opportunity to deploy offshore wind generation, the World Bank (WB) said; however, there are important technical and economic challenges and risks that can make the opportunity less attractive to investors and project developers

The Monetary Board of the Central Bank yesterday slapped banks with administrative measures to reduce the notable spread between market deposit rates and lending rates despite the substantial easing in the policy interest rates.

Sri Lanka will come out of the crisis situation it is faced with now, as it has the key requisites to steer the economy towards revival, according to former Bank of Thailand Governor Dr. Veerathai Santiprabhob.

The 100 MW solar power generation project undertaken by the consortium comprising WindForce PLC, Lakdhanavi, and Singapore’s The Blue Circle, is set to become a significant milestone in Sri Lanka’s power sector as it aims to establish benchmark p

Sri Lanka’s overall inflation rate, as measured by the National Consumer Price Index (NCPI), experienced a significant decline in July, dropping to 4.6 percent on a year-on-year (YoY) basis, against 10.8 percent in June.

Transshipment container volumes at the Port of Colombo rebounded in the first half of the year, ending the nearly one-year declining trend, as main shipping lines restoring services back from alternative routes on renewed confidence on the stability

As Sri Lanka strives to improve its revenue collection, especially in terms of tax, the required efforts have been rolled out to amend the Inland Revenue Ordinance, the Sectoral Oversight Committee on National Economic and Physical Planning said.

Skytanking Holding GmbH Managing Director Amir Ibrahim and the team met with the Chairman and officials of the BOI, Airport and Aviation to discuss potential opportunities for investment in Sri Lanka. Skytanking provides aviation fuelling services i

Despite the recent improvements observed in the macroeconomy, Sri Lanka’s manufacturing activity has not yet shown signs of recovery, whereas the services sector continues to exhibit growth.

As Sri Lanka embarks on an ambitious journey towards de-carbonising the economy, and adopting electric vehicles (EVs) is a crucial....

In a surprise move, the Australian government has reviewed its travel advisory on Sri Lanka, where it urges its citizens to exercise a high degree of caution when visiting the island nation.

Earnings from the tourism industry have crossed the US$ 1 billion mark with international visitors to Sri Lanka having spent US$ 219 million in July.

Amid the current human capital shortage, in particular the science, technology, engineering and mathematics (STEM) graduates increasingly looking to migrate, the government said it has plans to establish a number of new universities and vocational tr

Sri Lanka’s hotel sector will no longer be able to slash prices as they see fit to lure foreign tourists because the hotly contested Minimum Room Rate (MRR) will come into effect from October 1, 2023.

Improved prospects for the tea industry in the second half of 2023 (2H23) largely depend on how soon the Sri Lankan rupee would stabilise, Forbes & Walker Tea Brokers said. It noted that unless the remunerative rupee tea prices are achieved, farmer p

The government is planning to establish a Revenue Authority to plug tax loopholes and to strengthen the entire tax collection process to meet the envisaged fiscal targets.

The Cabinet nod has been granted to implement the Anti-Money Laundering and Countering the Financing of Terrorism (AML-CFT) National Policy ahead of the third mutual evaluation conducted by Asia Pacific....

Blue-chip conglomerate Aitken Spence has entered into an agreement with the Board of Investment (BOI) to kick off operations of two garment factories that halted operations recently, due to reduced orders. The BOI announced in a statement to the medi

Breaking one of the most severe and prolonged credit contractions in the Sri Lankan economy, banks witnessed an expansion in credit extended...