Moody’s assigns B2 rating to Sri Lanka’s proposed senior unsecured US dollar bonds

Moody's Investors Service ("Moody's") has today assigned a B2 rating to the Government of Sri Lanka's proposed senior unsecured US dollar-denominated bonds. The rating is...

China says facing severe challenges to economy

Chinese Premier Li Keqiang admitted that China faced severe challenges caused by the growing pains of economic transformation, when delivering the government work report...

Hilton plans major expansion in Sri Lanka

Hilton hotels has major expansion plans for Sri Lanka with three Hilton Hotels & Resorts and four DoubleTree by Hilton set to open in...

IMF reaches Staff-Level Agreement on Fifth Review of Sri Lanka’s Extended Fund Facility

The International Monetary Fund (IMF) said that it has reached a Staff-Level Agreement with Sri Lanka on the Fifth Review of Sri Lanka’s Extended...

FATF to visit Sri Lanka in May to review progress

The Financial Action Task Force (FATF), the global policy setter on Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT), has made the initial...

Sri Lanka to build competitiveness by liberalizing economy

Sri Lanka will look to build competitiveness by liberalizing economy where there is excessive controls and costs, Finance Minister Mangala Samarweera said today. He said...

Specific guidelines to be set for tourism development zones

Specific guidelines are to be set for tourism development zones which will be identified by the authorities, the Sri Lanka Tourism Development Authority said...

CBSL takes action on The Finance Company

The Finance Company PLC (TFC), a Finance Company licensed under the Finance  Business Act No. 42 of 2011 (FBA) was severely impacted by the...

New SLTDA chairman assumes duties as tourist arrivals increase

The newly appointed Chairman of the Sri Lanka Tourism Development Authority (SLTDA) and the Sri Lanka Tourism Promotion Bureau (SLTPB), Kishu Gomes, assumed duties at...

Korea promotes insurance scheme for Sri Lankan workers

Korea is promoting an insurance scheme offered for Sri Lankan workers in Korea. The Employment Permit System better known as EPS, is a unique system...

Sri Lanka makes aggressive pitch for India’s MICE tourists

India’s leading trade show on business, MICE and luxury travel, the Business & Luxury Travel Mart was held at The Leela Ambience Convention Hotel...

Over 80% of internet users outside greater Colombo buy online

Over 80% of internet users living outside greater Colombo make purchases online, a study has revealed. These purchases have also proven to be significant, with...

India’s development assistance to Sri Lanka around US$ 3 billion

India’s overall commitment of development assistance to Sri Lanka stands at a total of around US$ 3 billion, out of which US$ 560 million...

IMF decides to resume program discussions with Sri Lanka

The International Monetary Fund (IMF) has decided to resume discussions on a funding programme with Sri Lanka. Christine Lagarde, Managing Director of the International Monetary Fund (IMF),...

Over 300 Chinese business delegates attend Sri Lanka conference

Aiming to strengthen economic and cultural ties between the two nations, Chinese telecom and IT giant ZTE Internet Culture Media (Beijing) Co. Ltd. successfully...

China offers support to develop Sri Lankan economy

China has offered support to develop the Sri Lankan economy, following talks held in Colombo today. The Minister of Finance and Mass Media Mangala Samaraweera...

Sri Lanka looks to China, Japan and India to boost Rupee

Sri Lanka is in talks with China, Japan and India to obtain funds to help strengthen the Sri Lankan Rupee. Prime Minister Ranil Wickremesinghe told...

India to provide USD 400 mn to Sri Lanka under SAARC SWAP deal

The Reserve Bank of India (RBI) has agreed to provide USD 400 mn to the Central Bank of Sri Lanka (CBSL) under its SAARC...

Monetary Board of CB decides to maintain policy interest rates

The Monetary Board of the Central Bank of Sri Lanka, at its meeting held on 27 December 2018, has decided to maintain policy interest...

Tourism revenue up to October 2018 records increase

Foreign exchange earnings from tourism up to October 2018 were estimated to be US$ 3,495 million. The earnings from tourism recorded a growth of 10.6%...