How come royalty on foreign players replaced with additional Rs 50 charge on a litre of fuel? by Shamindra Ferdinando Convenor of the Samagi Joint Trade Union Alliance Ananda Palitha yesterday (12) said that the Wickremesinghe-Rajapaksa government was planning to impose VAT on fuel already subjected to several taxes amounting to Rs 75, an extremely […]

Sri Lanka extended restrictions on outward remittances by six months to manage foreign exchange reserves, cabinet spokesperson and transport minister Bandula Gunawardane told reporters at a weekly cabinet briefing on Tuesday.

The Cabinet of Ministers approved the proposal presented by the Minister of Transport and Highways to award the contract for the design and construction of the Ratmalana Railway Diesel Power Set Factory under the Railway Efficiency Improvement Project which is being implemented under Asian Development Bank funds, to China Civil Engineering Construction Company who was […]

Tuesday 12th December, 2023 Opposition Leader Sajith Premadasa has lashed out at a section of the media for floating a story that he is planning to patch up differences with President Ranil Wickremesinghe. Premadasa has alleged that the journalists who are spreading that story are in the pay of the government. His consternation is understandable. […]

Two policy-based loans (PBLs) have been arranged following discussions between the Asian Development Bank (ADB) and the Sri Lankan government, the Ministry of Finance said. Accordingly, the PBLs are slated to be used for the implementation of the Financial Sector Stability and Reform Programme, in a bid to create a stable financial system that provides […]

Businesswoman Thilini Priyamali, who is accused of large-scale financial fraud, has been acquitted and released from the case in which she was accused of allegedly issuing a cheque from a bank account with insufficient funds to purchase a vehicle worth Rs. 8 million.

Two policy-based loans (PBLs) have been arranged following discussions between the Asian Development Bank (ADB) and the Sri Lankan government, the Ministry of Finance revealed.

Inflows recorded a monthly average of USD 507mn during the period Passport issuances ,however, showed some decline compared to 2022 Workers’ remittances have increased notably to USD 482.4 million in September 2023 in comparison to USD 359.3 million in September 2022, according to the quarterly bulletin of Worker Remittances and Labour Migration, Issued by the […]

Sri Lanka earned 205.3 million US dollars from tourism during the month of November 2023, which is over twice the amount in the corresponding month in 2022, the latest data by the Central Bank of Sri Lanka (CBSL) have revealed. The revenue from tourism in November 2022 was 81 million dollars, according to official data.The […]

Migrant workers have remitted 5.4 billion U.S. dollars in the first 11 months of 2023, the latest data released by the Central Bank of Sri Lanka (CBSL) shows.The workers remitted 537.3 million dollars in November 2023, up 40 percent from 384.4 million dollars in November 2022, CBSL data showed. Workers sent only 3.3 billion dollars in […]

Income generated by tourism in Sri Lanka from January to the end of November reached 1.8 billion U.S. dollars, which is a 78.3 percent hike from the same period in 2022, the latest data by the Central Bank of Sri Lanka (CBSL) revealed.

Sri Lankan migrant workers have remitted 5.4 billion U.S. dollars in the first 11 months of 2023, the latest data released by the Central Bank of Sri Lanka (CBSL) has showed.

The Asian Development Bank (ADB) has approved a USD 200 million concessional loan for Sri Lanka to help stabilize the country s finance sector following the sovereign debt and economic crises that started in April 2022 after it suspended its external debt payments.

By Rathindra Kuruwita Sri Lanka has never been this transparent about an agreement it entered with the IMF, State Minister of Finance, Ranjith Siyambalapitiya says.Addressing calls for greater transparency in dealings with the IMF, Siyambalapitiya noted on Wednesday that Sri Lanka had engaged with the global lender on 16 previous occasions. The Cabinet of ministers […]

By Hiran H. Senewiratne Participation in the share market was quite low yesterday on the part of both foreign and local investors following bondholder concerns over transparency issues with regard to the external debt restructuring agreement, market analysts said. Amid those developments both indices moved upwards slightly. The All- Share Price Index went up by […]

64th Mercantile Table Tennis Championship In a dazzling display of talent and fierce competition, the 64th Inter-Firm Table Tennis League Championship 2023, organized by the Mercantile Table Tennis Association of Sri Lanka, unfolded at the Kandy Municipal Council Indoor Stadium on Sunday, December 3rd. The tournament featured a spectacular lineup of matches across various divisions, […]

Three persons who were arrested in connection with a meticulous scam involving the pilfering of money from the banks accounts of cancer patients, have been remanded on orders of the Colombo Magistrate s Court.

By Rathindra Kuruwita Dissident Sri Lanka Freedom Party (SLFP) MP, Dayasiri Jayasekera, has expressed concern over a potential 50% drop in the revenue of the Ceylon Petroleum Corporation (CPC) due to the entry of foreign companies into the petroleum market. Jayasekera highlighted the adverse impact of the policies of successive governments on the CPC. “The […]

Sri Lanka Under 19s will commence their Under 19 Asia Cup campaign against minnows Japan on Saturday, two days after the team land in Dubai. The Youth team left for Dubai yesterday. The team captained by Royal College batsman Sineth Jayawardena are the favourites alongside Bangladesh to advance to the knockout stage as they face associate […]

by Harim Peiris As we approach the end of 2023 and with about a year to go for the next presidential election due before end 2024, President Ranil Wickremesinghe’s frequent refrain and indeed the rationale for his administration is the revival of the national economy after it was spectacularly destroyed by his predecessor’s administration, ironically […]