Business News
Business LNP - Station Masters to launch immediate trade union action
The Sri Lanka Railways Station Masters' Union (SLRSMU) has decided to initiate immediate trade union action in response to the recruitment of Station Masters…
Business LNP - McDonald’s and International Restaurant Systems end franchise partnership in Sri Lanka
In a recent development, McDonald's Corporation and International Restaurant Systems (Private) Limited have officially terminated their franchise relationship…
Business LNP - Economic Recovery Drives Sri Lankan Finance and Leasing Companies Growth
Fitch Ratings: Sri Lanka’s economic recovery, moderating inflation, and lower interest rates are poised to spur finance and leasing companies’ (FLCs)…
Business LNP - Sri Lanka’s inflation drops to -0.2% in September
The overall rate of inflation, as measured by the National Consumer Price Index (NCPI), has decreased to -0.2% in September 2024 from 1.1% in August 2024,…
Business LNP - Egg traders urge govt to implement pricing formula
The All Ceylon Egg Traders’ Association has called on the government to introduce a pricing formula to stabilize the price of eggs in the market. The Secretary…
Business LNP - Sri Lanka’s economy stabilises with growth expected to reach 4.4 % in 2024: WB
The Sri Lankan economy has stabilised with growth expected to reach 4.4 percent in 2024, surpassing earlier forecasts, the World Bank (WB) said today. The…
Business LNP - Sri Lanka Tourism earnings reach US$ 2.35bn
Sri Lanka is seeing continuous headway in its tourism trade through September as both the arrivals and earnings made progress in the months, although there was…
Business LNP - Sri Lanka to lift all vehicle import restrictions by February 2025
Sri Lanka’s Cabinet of Ministers has decided to lift all vehicle import restrictions by February 2025, according to Foreign Minister Ali Sabry. “With the…
Business LNP - Revised import duties set to boost local trade and industries
Sri Lanka’s local business community stands to gain from a major revision of the country’s import tax structure, with the government announcing new measures to…
Business LNP - Central Bank relaxes mandatory export conversion period
The Central Bank has relaxed the mandatory export conversion period in the latest exports proceeds conversion rule which came into effect from 4 November. As…
Business LNP - Fragmented tour guides sector risks SL’s ability to cater to tourism targets: Study
Sri Lanka’s tourism industry is grappling with lower number of licensed tour guides, which could threaten the country’s ability to cater to the expected five…
Business LNP - Apparels, textiles boost August exports income
August merchandise exports income tops US$ 1.2bn Apparel & textile exports up 15% to US$ 565mn Jan-Aug. cumulative exports up 12% to US$ 8.85bn Cumulative…
Business LNP - Local canned fish manufacturers allege Sathosa trying to buy imported tinned fish despite self-sufficiency
Urge govt. to consider including canned fish in temporarily banned list of imported goods into country Despite the country reaching self-sufficiency in canned…
Business LNP - Circular permitting migrant workers to import electric vehicles issued
A circular allowing migrant workers to import an electric vehicle was issued yesterday (August 31) by the Labour and Foreign Employment Ministry. Minister…
Business LNP - Harsha appointed Chairman of Public Finance Committee
The Public Finance Committee which met today, unanimously appointed SJB MP Harsha de Silva as its new Chairman. He has been appointed as per Standing Orders…
Business LNP - CBSL announces amnesty period to deposit or sell foreign currency in the hands of public
The Minister of Finance has issued an order granting an amnesty period of one month with effect from August 15, 2022 in order to attract foreign currency held…
Business LNP - CEB trade union warns daily power cuts could exceed 3 hours
The Ceylon Electricity Board (CEB) United Trade Union Alliance warns that the power cuts would likely have to be increased to more than 03 hours in the future.…
Business LNP - Recent 75% electricity tariff is a farce: CEB Trade Union Alliance
he recent 75% increase in the electricity tariff is incorrect; it is a 100% increase when considering higher unit rates, the Ceylon Electricity Board (CEB)…
Business LNP - Sinopec likely to enter Lankan fuel market
Sinopec, the biggest petrochemical company in China, is likely to enter Sri Lankan market for fuel importing, distribution and selling petroleum products,…
Business LNP - Litro Gas turning a profit after years - Chairman
Litro Gas company has become a profit-making institution in July this year for the first time in several years, according to Litro chairman Muditha Peiris. The…
Business LNP - Port City Colombo SEZ introduced at the Commonwealth Business Forum 2022 Kigali, Rwanda
CHEC Port City Colombo in collaboration with the Colombo Port City Economic Commission successfully introduced the Special Economic Zone to 50 plus potential…
Business Importance of ‘Fair Play’ by all Stakeholders of the Economy in Countering the Current Unprecedented Economic Crisis
The Government and the Central Bank of Sri Lanka (CBSL) have been implementing several measures to ease the burden of the current economic hardships on the…
Business Merchandise trade balance records a surplus for first time in nearly 20 years
The merchandise trade balance recorded a surplus in June 2022 for the first time since August 2002, reflecting the impact of historically high monthly export…
Business LNP - Gem exports can bring US$1Bn to SL this year: SB
Action will be taken to increase exporting gems that could bring in a revenue of US$1 billion by the end of this year, which is currently at US $265 mn,…