Business

Philippine Airlines (PAL) has named Richard Nuttall, the current CEO of SriLankan Airlines, as its new President, effective May 29, 2025.

Fitch Ratings expects Sri Lanka’s state banks to continue to report weaker regulatory capital ratios than systemically important private banks, despite significantly higher profitability.

Sri Lanka and the United States have agreed to continue discussions aimed at finalizing a bilateral trade agreement between the two countries in the shortest possible time period.

Apple plans to relocate the assembly of all iPhones destined for the United States to India as early as next year, as escalating US-China trade tensions prompt the tech giant to fast-track its supply chain diversification, the Financial Times reported, citing sources familiar with the matter.

Sri Lanka’s economy has made a remarkable recovery in 2024, surpassing growth expectations by recording 5 percent growth, compared to the projected 4.4 percent, says the World Bank.

The Cabinet of Ministers has granted approval to publish the draft bill of Gambling Sports Regularization Act in the government gazette and to present in Parliament for approval.

MegaPay’s Pay&Go platform has already transformed payment behaviour across the country with over 1,000 active digital kiosks and a widely used mobile app.

Sri Lanka’s Employees’ Provident Fund (EPF), the nation’s largest retirement fund, reported a record 12.6 percent year-on-year surge in net worth to Rs. 4.37 trillion by the end of 2024, up from Rs. 3.89 trillion in 2023. The growth was driven by robust investment income and higher contributions.

Special bus services will continue to operate for commuters returning to Colombo after the Sinhala and Tamil New Year, according to the Transport Manager at the Sri Lanka Transport Board (SLTB), H. Piyathilaka.

President Anura Kumara Dissanayake assured that there will never again be an issue with the price of paddy.