Sri Lanka needs to step up efforts in enticing a larger proportion of its population across all provinces towards embracing entrepreneurship so that the impacts of the ongoing economic crisis would lessen, the Central Bank asserted.

Sri Lanka has failed to fulfil two of the International Monetary Fund (IMF) programme commitments that were due in April 2023, publicfinance.lk, a platform for public finance-related information in Sri Lanka run by Colombo-based think tank Verité Re

Sri Lanka’s hotel sector is unable to fully reap the benefit of the increasing tourist arrivals as industry players have opted to slash rates in a bid to capture market share. The Hotels Association....

Given the precarious state of the public finances, a former central banker warned that the proposed domestic debt optimisation (DDO) is unlikely to be implemented on voluntary terms, despite the assurances given by the Central Bank and Treasury.

The months-long descent in credit to the private sector turned more pronounced in March as such credit reported a net de-growth of Rs.107.6 billion, nearly doubling from the Rs.57.6 billion contraction...

The government is mulling strict measures to rectify the prices of imported goods, if the traders fail to pass down the benefits of the recent appreciation of the rupee against the US dollar to the consumer.

Sri Lanka’s rupee further appreciated against the US dollar (US$) yesterday dropping below Rs.300 for the first time since April last year as the Central Bank (CB) took a breather from its dollar purchases to allow consumption to rebound.

National carrier SriLankan Airlines is expecting to wrap up its re-fleeting exercise, which got the Cabinet approval last year, in the next two to three months, acquiring at least seven aircraft in the first phase, a top official said.

Despite the sharp upward revisions in electricity tariffs, the financial performance of the Ceylon Electricity Board (CEB) remains dismal....

The International Monetary Fund (IMF) expects Sri Lanka to complete the debt restructuring process by the first review of the country’s US $ 3 billion programme, which is scheduled for September-October.

With the number of active Board of Investment (BOI)-approved companies falling by nearly 50 percent since the inception of the agency,,,,

Cash-strapped Sri Lanka’s national airline announced a staggering US $ 525 million annual loss yesterday

President instructs officials to amend provisions of land management ordinances and introduce new regulations Stresses that archaic land policies established during the colonial era are no longer suited to modern development needs

Sri Lanka’s lubricant consumption fell to a 13-year low in 2022, amid the severe forex crunch, which snowballed into a full-blown economic crisis, marked by hours-long power cuts, massive fuel shortages and runaway inflation.

The first week of May recorded the lowest weekly tourist arrivals since January 2023 with only 18,401 international visitors having entered destination Sri Lanka.

Sri Lanka plans to formally apply for Geographical Indication (GI) for Ceylon Tea from the European Union (EU) this September, with intentions to replicate the same move in other key markets of Ceylon Tea subsequently.

The largest superannuation fund in the country, the Employees’ Provident Fund’s (EPF) heavier tilt towards the government securities....

The International Monetary Fund (IMF) plans to support the government to come up with a strategyto safeguard financial sector stability in a potential domestic debt restructuring (DDR) scenario, a top official of the Fund said.

Public Utilities Commission of Sri Lanka (PUCSL) Chairman Janaka Ratnayake this week charged that the government is attempting to privatise the Ceylon Electricity Board (CEB) by breaking it into 14 entities, through the proposed Electricity Reforms B

Dialog Axiata PLC and its Malaysian parent Axiata Group Berhad and India’s Bharti Airtel Limited have entered into a binding term sheet to combine operations of Bharti Airtel Lanka, Airtel’s wholly-owned subsidiary, with Dialog Axiata.

Sri Lanka’s banking sector has sought more clarity and transparency from the government on the recently proposed Domestic Debt....

The Colombo district inflation fell sharply in April, as the higher base effects from last year kicked in while the commodities prices are cooling, on the back of easing supply conditions and the relative strength in the rupee, which reduced the pric

In terms of Section 35 of the Monetary Law Act No. 58 of 1949, the seventy third Annual Report of the Monetary Board of the Central Bank of Sri Lanka was presented yesterday to President Ranil Wickremesinghe, who is also the Minister of Finance, Econ

Sri Lanka plans to continue bilateral debt restructuring negotiations with the Paris Club creditors and India on a common platform and with China separately, without any prior conditions, in order to reach debt sustainability by restructuring the cou

The tax collections by Inland Revenue Department (IRD) rose by a record 216 percent Year-on-Year (YoY) to Rs.316.62 billion in the first quarter of this year driven by changes in the tax policy and gradual....

The tax collections by the Inland Revenue Department (IRD) rose by a record 216 percent year-on-year (YoY) to Rs.316.62 billion in the first quarter of this year, driven by the changes in the tax policy and gradual recovery of economic activities, ac

The government is eyeing US$ 2 billion worth of investments to build the proposed North Port of Colombo consisting of three....

Sri Lanka’s aspiration to become a major logistics hub in the region took a giant leap forward yesterday, with the launch of a project to build the largest commercial and logistics complex in South Asia in the Port of Colombo, with an investment of

Sri Lanka’s tea exports dipped 22 percent year-on-year (YoY) to 17.97 MnKgs in March continuing the declining trend seen in both tea production and exports in recent times, the data released by Forbes & Walker Tea Brokers showed.

The Sri Lanka All Telecommunication Employees Union yesterday filed a fundamental rights (FR) petition in the Supreme Court, seeking an order restraining the Treasury Secretary from taking any steps to divest the shares held by him in Sri Lanka Telec