Exports top $ 14 b mark in first 11 months
Sri Lanka’s exports have shown commendable performance over the first 11 months of 2024, surpassing the significant $14 billion mark in total value, indicating robust growth across various sectors. This upward trend in the nation’s export sector reflects an overall year-on-year (YoY) growth of over 6%, which is a testament to the resilience and potential […]
Tourism Minister Advocates Optimism and Sustainability for Industry Growth
Resilience and Innovation Shine at National Tourism Awards 2024 Tourism Minister Vijitha Herath called for collective optimism, creativity, and sustainability to foster a thriving tourism industry in Sri Lanka during the National Tourism Awards 2024. Held after a five-year gap, the event celebrated the industry’s resilience and contributions to economic recovery. Herath emphasized the importance […]
Govt. to reactivate Export Development Council of Ministers to drive $ 45 b export goal
In an ambitious move to elevate its export figures to a staggering $45 billion, the Sri Lankan government has announced its decision to reactivate the Export Development Council of Ministers (EDCM). This strategic initiative underscores the country’s commitment to enhancing its economic landscape and achieving significant growth in its export sector. The Strategic Role of […]
Analyzing the Impact of Tax Reductions on Sri Lankan Businesses
Tax reforms have long been a strategic tool for governments worldwide to drive economic growth, attract investments, and support struggling industries. Sri Lanka, a nation that has faced significant economic hurdles, is no exception. Recent reductions in taxes, implemented through fiscal policies, have spurred debates about their potential implications for businesses across the country. This […]
Economy grows by 5.5% in 3Q, powered by industrial sector
Sri Lanka’s economy showcased robust growth in the third quarter of 2024, achieving a 5.5% increase compared to the same period in previous years. This marks the highest growth rate since 2021 and is a continuation of the positive trend observed since September 2023. This article provides an in-depth analysis of the contributing factors and […]
Sri Lanka and India agree to set new standard in bilateral ties
In a landmark move, Sri Lanka and India have agreed to elevate their bilateral relations to unprecedented levels, marking a new chapter in their long-standing friendly ties. This agreement was reached during the official talks held in New Delhi between Sri Lankan President Anura Kumara Dissanayake and Indian Prime Minister Narendra Modi. The talks, which […]
Colombo Stock Exchange Surges by Rs. 1 Trillion
Investors are riding high on optimism as the Colombo Stock Exchange (CSE) marks historic milestones under President Anura Kumara Dissanayake’s leadership. The market’s value has skyrocketed by Rs. 1 trillion since his election, with the All Share Price Index (ASPI) breaking the 14,000-point barrier for the first time in history. Record-Breaking Performance For the 13th […]
Sri Lanka Customs Set to Achieve Historic Rs. 1.5 Trillion Revenue Target in 2024
Sri Lanka Customs is on track to make history by surpassing Rs. 1.5 trillion in revenue for the first time. With less than a month remaining in 2024, the Department has already collected over Rs. 1.41 trillion, signaling a strong finish to the year. Record-Breaking Revenue Growth Director General Sarath Nonis revealed that as of […]
Food Policy and Safety Committee to boost national food security
Ensuring food security is one of the most critical challenges for any nation. To address this, Sri Lanka has introduced a major step forward by forming the Food Policy and Safety Committee under the Presidential Office. This initiative, approved by the Cabinet of Ministers on December 11, 2024, reflects the government’s commitment to ensuring that […]
Japan’s shipbuilding giant Onomichi to exit Sri Lanka
IntroductionColombo Dockyard PLC (CDL), Sri Lanka’s pioneering shipbuilding and repair company, is at a pivotal moment in its history as its majority shareholder, Japan’s Onomichi Dockyard Company Ltd., has decided to exit. This decision brings an end to over three decades of partnership and leaves CDL in search of a new strategic investor to ensure […]