Iraq, a leading buyer of Sri Lankan tea has urged authorities to strengthen the process with regard to the packaging, certification and shipping of teas to avoid adulterated tea reaching Iraq.

Treasury bill yields plunged in the first bill auction after a 50 basis point policy rate cut by the Central Bank last week, the data released by the Public Debt Department of the central Bank showed.

The annual gratuity provision of Regional Plantation Companies (RPCs) will increase by an average of between Rs.175-225 million per company as a result of recent wage hike, according to the Planters Association of Sri Lanka.

Despite numerous attempts by the Central Bank to justify the country’s current gross external reserve position that now stands at US $ 6.9 billion or equivalent to 4.5 months of imports, the International Monetary Fund (IMF) considers this to b

Sri Lanka's Central Bank is expected to keep key monetary policy rates steady for the fifth straight month on Friday, a Reuters poll showed, and analysts predict at least a quarter percentage point cut in June as both the central bank and the cou

Sri Lanka’s March export income drop moderated 2.8 percent year-on-year (YoY) to US $ 837 million, resulting the trade gap to narrow 29 percent YoY to US $ 704.5 million, the data released by the Central Bank showed.

The economically-active population aged 10 years and above- popularly known as a country’s labour force - declined in Sri Lanka by 1.1 percent to 8.465 million due to migration of economically active persons during 2012, the Central Bank annual

With the construction of the first phase of the South container terminal project nearing completion, the first berth will open up for ship traffic starting July, enabling the Colombo port to accommodate mega vessels that was not possible before, a to

Sri Lanka’s March tea production rose 11.3 percent from a year earlier due to favourable weather, pushing up output of the island nation’s top agricultural export by 8.1 percent in the first quarter of 2013, data from the state-run Tea Bo

Sri Lanka’s export income fell 2.9 percent Year-on-Year (YoY) to US $ 797.5 million in February with both agricultural and industrial exports slowing down, the data released by the Central Bank showed.

Sri Lanka's export income fell 2.9 percent Year-on-Year (YoY) to US $ 797.5 million in February with both agricultural and industrial exports slowing down, the data released by the Central Bank showed

Issuing the sovereign credit rating and the country outlook for 2013, Fitch Ratings yesterday affirmed Sri Lanka's long-term foreign and local currency Issuer Default Ratings (IDRs) at 'BB-'

Tourist arrivals to Sri Lanka in the month of February rose 11.6 percent year-on-year (YoY) to 93,232, helped by increased arrivals from East Asian and Western and Eastern European blocks, the official data provided by the Sri Lanka Tourism Developme

The likely loosening of the monetary policy will increase the savings - investment gap, which narrowed to 6.6 percent of GDP or Rs.503 billion in 2012, increasing the dependency on foreign financing to feed the investment hungry nation, a global bank

The recent wage increase granted to plantation sector workers has pushed the cost of production of Sri Lankan teas to the highest in the world, the Planters’ Association of Ceylon claimed.

Cairn India Limited said it is currently evaluating the options of converting gas into commercial use, one and a half years after identifying natural gas in the Sri Lanka’s Mannar Basin.

Bangladesh is tipped to sign a Free Trade Agreement with Sri Lanka to strengthen bilateral trade between the two nations, according to visiting Bangladesh Foreign Secretary Ambassador, Mohammed Shahidul Haque.

The roof tile industry which was on the decline has been revived under Divi Neguma national programme, with 156 tile factories back in operation.

 The Gulf Cooperation Council (GCC) is expected to soon pass a law to regulate foreign labour in member countries, similar to the one passed by Saudi Arabia that seeks to reserve 10 percent jobs for locals, foreign media reports said.

Demand for consumer durables such as televisions, refrigerators, washing machines, kitchen appliances, digital cameras et are expected to a see a slowdown in 2013 if energy prices are increased, according to Fitch Ratings Lanka Limited.

Foreign direct investment (FDI) inflows to Sri Lanka grew by 26 percent year-on-year (YoY) reaching US $ 1.34 billion in 2012, missing the US $ 1.75 billion target set by the government, the recently released Central Bank Annual Report for the year 2

The Central Bank has taken a decision yesterday to hold key policy rates at current levels for the fourth straight month, despite the inflation falling down to 7.5 percent in March from 9.8 percent a month ago.

The Department of Posts (DOP) incurred a substantial operating loss of Rs.5 billion during 2012 which was an increase of 8 percent as against the previous year, following a 52 percent increment in 2011, the Central Bank’s annual report 2012 sta

Despite calls by various pressure groups to end the practice of sending Sri Lankan housemaids to the Middle Eastern countries, the number of women departed seeking to be employed as housemaids in 2012 increased by 10,735 to 118,235 in 2012, the lates

The progress in infrastructure development needs to be supplemented with an effective institutional reform agenda to harness maximum economic and social benefits, according to the Central Bank’s Annual Report 2012.

Sri Lanka’s total external debt grew by 13.8 percent Year-on-Year (YoY) to US$ 28.4 billion in 2012, the Central Bank annual report for the year 2012 released yesterday showed.

Sri Lanka’s post-war economic growth slowed down to 6.4 percent in 2012, after two years of consistent growth at 8.0 percent in 2010 and 2011, the Central Bank annual report for 2012 released yesterday showed.

The Hotels Association of Sri Lanka (THASL) has charged the Ceylon Electricity Board (CEB) for singling out the hotels sector and imposing a tariff higher than the normal industry tariff applicable to industrial sector.

The number of mobile phones used by 20.8 million Sri Lankans hit over 20.3 million for the fist time at the end of December 31, 2012, Central Bank data showed.

Tea and rubber estate workers have won an 18 percent hike in their basic daily wage from April 01 effective for two years, which may cost firms in excess of Rs.250 million rupees a year, industry officials said.