Business IMF expects strong Budget 2019
MF's Mission Chief for Sri Lanka Manuela Goretti IMF says multi-pronged reforms effort remains key for SL to strengthen resilience of economy and help unlock…
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Business Indian Ocean Economy becoming global growth pole
Prime Minister Ranil Wickremesinghe, highlighted the need to maintain Freedom of Navigation and Freedom of Digital Connectivity in the Indian Ocean for the…
Business Sri Lanka leads South Asia in World Bank ‘human capital’ rankings
The World Bank Group unveiled a new system on Thursday to rank countries based on their success in developing human capital, an effort to prod governments to…
Business Sri Lanka entrepreneurs an economic force but severely wanting in B-Schooling
Despite playing a huge role in the country’s economy, Sri Lankan entrepreneurs and SMEs are struggling to advance their business capacities due to lack of…
Business Palm Oil industry rejects vilification of crop as “baseless and unscientific”
The vilification of oil palm in Sri Lanka on the grounds of the crop’s purported adverse impact on the environment is completely unjustifiable, given that the…
Business SL can double exports to South Asia: WB
Sri Lanka has the potential to more than double exports to South Asia, suggests a new World Bank report titled ‘A Glass Half Full: The Promise of Regional…
Business Sri Lanka July exports up 5.7-pct, tea, garments down
ECONOMYNEXT – Sri lanka’s earnings from merchandise exports surpassed a billion US dollars for the second consecutive month in July 2018, rising 5.7 per cent…
Business Sri Lanka entering a dark era of long queues for food and basic goods: Cabraal
Woeful mismanagement of the economy coupled with the resultant steep fall in foreign reserves and the unjustifiable depreciation of the rupee will leave the…
Business Fresh push to woo UK investors to SL
CSE/SEC-organised ‘Invest Sri Lanka’ Forum in London today; in Edinburgh on Wednesday 13 Listed Companies to pitch for more foreign portfolio investments State…
Business EPF to be listed and brought under CBSL supervision
Sri Lanka's largest retirement fund, the Employees' Provident Fund (EPF),with Rs. 2 trillion in assets will be listed in the Colombo Stock Exchange (CSE) and…
Business Should Central Bank ‘aggressively’ defend the Rupee?
Top economists and officials last week commended the Central Bank’s approach in tackling the present foreign exchange dilemma by keeping interventions to a…
Business Tourism earnings up 12.5% Jan-Aug
Tourism earnings during the first eight months as well as during the month of August this year reflected the same trend as arrivals to the country. According…
Business Dr. De Silva pulls out from Investors’ Forum in London
State Minister of National Policies and Economic Affairs Dr Harsha de Silva has pulled out from speaking at an Investors’ Forum to be held in at the London…
Business Duty-free permits to MPs stopped for theatric effect
The Finance Ministry, yesterday, admitted that almost all lawmakers had imported vehicles on duty free permits issued to them following last parliamentary…
Business Sri Lanka injects Rs75bn to sterilize cash short
Sri Lanka has injected 75 billion rupees through a overnight and 7-day term reverse repo auction to sterilize a liquidity shortage that has cropped up amid…
Business MR blames free trade policies for rupee depreciation
Claims his government managed 2008 crisis without people suffering Blames current administration’s policies for depreciating rupee and not Trump’s policies…
Business GOVT. TO CURTAIL IMPORTS - PM
To overcome currency crisis massive loans obtained by previous regime, main cause. Prime Minister Ranil Wickremesinghe yesterday said that the government will…
Business Sri Lankan rupee pulls back from record low after cenbank intervention
The Sri Lankan rupee hit a record low for an eighth straight session on Friday, but closed the session firmer following intervention by the central bank,…
Business Sri Lanka stops import of Iranian oil ahead of sanctions
The South Asian country had earlier imported nearly all of its crude from Iran Sri Lanka has stopped crude imports from Iran and is actively switching to other…
Business Data science, AI focus to achieve $5bn Sri Lanka IT export target
Sri Lanka’s information technology industry will prioritise data science and artificial intelligence in its drive to sharply increase exports despite facing…
Business PM calls on private sector to get involved in education reform
Prime Minister Ranil Wickremesinghe on Friday (14 September) called on the private sector to set up educational institutions to cater to the emerging needs of…
Business Sri Lanka tourist VAT refund to draw luxury retail investments, shoppers
The new value added tax (VAT) refund scheme for tourists could help draw investments by international retailers to Sri Lanka as well as foreign visitors keen…
Business Sri Lanka budget gap contained by June 2018, despite weak revenues
Sri Lanka's tax revenues grew 3 percent to 845.3 billion rupees in the six months to June 2018, and current spending grew at a faster 8 percent to 995.6…
Business Senior citizen deposits: Treasury owes banks Rs. 22.92 billion
The Treasury owes commercial banks more than Rs 22.92 billion in reimbursement for higher interest rates paid on senior citizens fixed deposits on Government…