Business News
Business LNP - Sri Lanka’s inflation drops further in November 2024
The overall rate of inflation, as measured by the National Consumer Price Index (NCPI), has decreased to -1.7% in November 2024 from -0.7% in October 2024,…
Business LNP - Hybrid vehicle import tax based on engine capacity will reduce costs, satisfy all
If hybrid vehicle imports are taxed based on their engine capacity, it will satisfy both consumers and the government, while reducing the prices of existing…
Business LNP - Cabinet approval to import salt to resolve shortage
The Cabinet of Ministers has granted approval for the import of up to 30,000 metric tons of non-iodized salt by the State Trading Corporation to address the…
Business LNP - Sri Lanka to allow vehicle imports from February 2025
President Anura Kumara Dissanayake has announced that the government has decided to allow the import of vehicles for personal use, with effect from February…
Business LNP - Expressway exits accept only local currency, inconveniencing tourists and locals: Official
Tourists and the local community face inconvenience when making payments at expressway toll gates, as they currently accept only Sri Lankan currency Although a…
Business LNP - Sri Lanka’s economy grows 5.5% in Q3 2024
The year-on-year GDP growth rate for the third quarter of 2024 has been reported as 5.5 percent of positive growth rate, the Department of Census and…
Business LNP - New online portal launched to verify legally imported vehicles
The Commission to Investigate Allegations of Bribery or Corruption (CIABOC) has launched an investigation into the nearly 6,000 vehicles across Sri Lanka which…
Business LNP - Cinnamon Hotels & Resorts to energise Sri Lanka’s hill capital with the launch of Kandy Myst by Cinnamon
Cinnamon Hotels & Resorts, in partnership with Indra Traders, is set to expand its footprint in Sri Lanka’s hill capital, at the start of 2025, with the…
Business LNP - Sufficient stocks of eggs to meet market demand
The Sri Lanka Association of Animal Production announced today that sufficient stocks of eggs have been released to the market to prevent any shortages.…
Business LNP - November tourism earnings jump to US$ 273 mn on solid winter season arrivals
Tourism earnings in November 2024 recorded US$ 272.9 million, rising sharply from US$ 205.3 million in the same month a year ago and US$ 185.6 million…
Business LNP - Sri Lanka eyes transforming tourism for thriving economy
Sri Lanka Tourism Development Authority (SLTDA) Chairman Buddhika Hewawasam on Thursday made a compelling case to transform the tourism industry to a…
Business LNP - Govt. approves resumption of vehicle imports from February after 5-year ban
The government has given the green light to resume vehicle imports, starting February next year, following a five-year suspension, President of the Vehicle…
Business LNP - Discrepancies in issuance of permits to expatriate workers to import electric vehicles
By Sujith Hewajulige There have been abuses in the issuance of permits for expatriate workers to import electric vehicles, according to an audit report. …
Business LNP - Jetstar Asia eyes Colombo as key market for regional growth and tourism
By Charumini de Silva Jetstar Asia yesterday launched its Colombo-Singapore direct route positioning itself as the only low-cost carrier connecting the…
Business LNP - Sri Lanka’s inflation drops to -0.7% in October
The overall rate of inflation, as measured by the National Consumer Price Index (NCPI), has decreased to -0.7% in October 2024 from -0.2% in September 2024,…
Business LNP - SL targets US $ 36bn in annual exports by 2029
By Nuzla Rizkiya The government has set its sights on an ambitious annual export revenue target of US $ 36 billion to be achieved by 2029, according to the…
Business LNP - Strategic branding key to SL’s success in India’s wedding market: Vandana Mohan
By Nishel Fernando Access to information and strategic branding are pivotal for Sri Lanka to emerge as a premier wedding destination for Indians, according to…
Business LNP - ADB approves USD 200 mln loan to strengthen Sri Lanka’s financial sector reforms
The Asian Development Bank (ADB) today approved a $200 million policy-based loan to further help the Government of Sri Lanka strengthen its financial…
Business LNP - The Onslaught of the Beedi Industry and its Impact on Sri Lanka’s Economy
Lack of tax collectability results in dampening of government revenue ambitions While Sri Lanka has made notable progress in tobacco control, with policies…
Business LNP - October remittances at US$ 588mn provide strong bulwark for economy
Worker remittances for October continued to come in stronger against both a month ago as well as a year ago period helping both the foreign currency reserves…
Business LNP - Local footwear industry threatened by illegal imports
The Sri Lankan footwear industry is facing severe challenges due to a surge in low-cost, illegally imported shoes that avoid taxes, according to industry…
Business LNP - Opening costs of “City of Dreams” dents JKH profitability
John Keells Holdings (JKH) Group EBITDA stood at Rs.8.09 billion in the second quarter of the financial year 2024/25 which is a decrease of 4 per cent against…
Business LNP - China’s BYD overtakes Tesla revenue for first time
The Chinese electric vehicle giant BYD has seen its quarterly revenues soar, beating Tesla’s for the first time. It posted more than 200bn yuan ($28.2bn,…
Business LNP - New contractor appointed for supply of LPG to Litro Gas Company
The Cabinet of Ministers has granted approval for awarding the contract to M/s OQ Trading Limited for the supply of Liquefied Petroleum Gas (LPG) to Litro Gas…