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

The government plans to spend a record Rs.206 billion per annum in welfare expenditure starting from this July under a new programme prepared in line with Welfare Benefits Board Act to assist the poor and...

Sri Lanka’s largest private sector healthcare provider Asiri Hospital Holdings PLC, a unit of Softlogic Group, in a landmark announcement yesterday disclosed its plans to set up a state-of-the-art hospital within China-backed Port City Colombo (PCC

Foreign interest in Treasury bills and bonds was seen growing steadily in the recent few weeks reflecting their readiness to bet on the future trajectory of the Sri Lanka’s economy. As per the data available....

The International Monetary Fund (IMF) slightly lowered its outlook for the global economy on Tuesday, while predicting that most countries will avoid a recession this year despite economic worries and geopolitical strains.

Amid high demand, Russia’s outbound tour operators have decided to extend winter flight programmes to Sri Lanka in the upcoming....

The tourist arrivals to Sri Lanka were recorded at 26,912 in the first week of April, the provisional data from the Sri Lanka Tourism Development Authority showed.

Underscoring what the Central Bank Governor Dr. Nandalal Weerasinghe said on an early finish to the debt restructuring, the former Central Bank Governor....

Earnings from tourism almost touched the US $ 200 million mark in the month of March, while such earnings for the first quarter topped US $ 500 million.

Workers’ remittances to Sri Lanka crossed the US$ 500 million mark for the first time since April 2021, data released by the Central Bank last evening showed.

The Central Bank officials expressed confidence in wrapping up the negotiations with both its bilateral and commercial creditors well prior to the first review of the International Monetary Fund (IMF)-assisted programme, which would come up in six mo

The Monetary Board of the Central Bank left the key policy rates unchanged at the current levels as financial conditions continue to ease since the government clinched the US$ 3 billion Extended Fund Facility (EFF) with the International Monetary Fun

The tourist arrivals to Sri Lanka crossed the 125,000 mark in March, recording the highest influx of international visitors since the Covid-19....

Addressing the ambiguity concerning the future of the Board of Investment (BOI), the government assured that the proposed Agency for External Trade and Investment succeeding the BOI would be established....

Sri Lanka’s deficit in the merchandise trade account witnessed a significant contraction in February, due to a significant moderation in the import expenditure, arising out of the aggregate demand conditions.

​Sri Lanka expects to conclude the discussions with its creditors-both official and private-and reach a debt relief deal by the first review of the International Monetary Fund (IMF) programme that received Executive Board approval early last week.

Sri Lanka’s automobile industry is requesting the government to consider a quota system for vehicle imports for its survival and the livelihoods of over 100,000 people, who are directly or indirectly employed by it.

Stakeholders of the construction sector presented to the Central Bank this week a 30-point action plan that will help improve its contribution to the economy—to levels before the economic crisis severely....

Sri Lanka is likely to go for another International Monetary Fund (IMF) programme after the end of the current four-year programme, to continue with the structural and institutional reforms.

Sri Lanka’s export sector saw the earnings cross the US $ 1 billion mark for the year 2023, with the month of February fetching a revenue of US $ 1.0052 billion for merchandise exports.

State-owned Enterprises Restructuring Unit (SRU) to soon select transaction advisors to assist with sale process

President Ranil Wickremesinghe yesterday expressed confidence in creating a new financial culture and environment that had not prevailed in Sri Lanka before, through the Extended Fund Facility (EFF) programme that was approved by the International Mo

Following IMF Board approval of US$ 3bn bailout, SL set to receive first tranche in two days With IMF deal clinched, SL now confronted....

The International Monetary Fund (IMF) yesterday said its Executive Board approved a US $ 3 billion financing for Sri Lanka under the Extended Fund Facility (EFF), which will be disbursed within a period of four years.

The once brisk construction sector fell to new lows in the final three months of last year, extending the contraction in the sector to its sixth straight quarter reflecting the extent of its struggle. According....

Sri Lanka is in dire need to correct its image in the eyes of the international community, given the negative sentiments that are still largely prevalent, as stepping up efforts in this regard is the marketing fraternity of the country.

The new Monetary Law Act, which aims to grant independence to the Central Bank with enhanced accountability, will empower the monetary authority to make unpopular but essential decisions in prioritising price stability in the country under a flexible

Sri Lanka’s tea exports declined for the second consecutive month in February.

In an open letter to Sri Lanka’s official bilateral creditors, President Ranil Wickremesinghe yesterday assured that safeguards will be put in place to ensure equitable burden sharing and comparability of treatment.

While seeking presidential intervention, the Sri Lanka Shippers’ Council (SLSC) warned that the recent decision by Ports, Shipping and Aviation Minister Nimal Siripala De Silva to remove the regulations on freight charges is likely to hurt the comp