Category: Business and Economy

Deputy Minister of Economic Development Nishantha Jayaweera emphasizes that the claims circulating on social media that the Value Added Tax (VAT) has been increased to 20.5 percent based on a recently issued gazette notification by the government, are completely false and baseless. Speaking at a special media briefing held at the Ministry of Finance in…

This financial results of the National Development Bank PLC (NDB) for its first quarter ended March 31, 2026 (1Q 2026), represent the Bank’s earlier corporate disclosures as released to the Colombo Stock Exchange on April 2, 2026, April 6, 2026 and April 23, 2026. The breakdown of the estimated financial impact of the fraud of…

The external current account recorded a marginal surplus in March 2026, mainly supported by higher workers’ remittances and a lower primary income deficit, despite a widening of the trade deficit and a moderation in the services surplus compared to a year earlier. The cumulative current account surplus reached US$ 531 million during the first quarter…

The construction sector in Sri Lanka has shown continued growth, according to a latest report released by the Central Bank of Sri Lanka.  The overall activity index for the construction sector recorded a value of 57.1 in March, which indicates that activity in the sector has continued to increase, albeit at a slightly slower pace…

SDB bank has been recognised at the LankaPay Technnovation Awards 2026, where its flagship digital payment wallet, UPay, received a Merit recognition in the Best Digital Payment Application for Retail Payments category. This accolade reflects the bank’s commitment to advancing digital financial services and promoting seamless, secure, and accessible payment solutions for retail banking customers…

The Bank of Ceylon (BOC) recently opened its Badalgama branch, yet another step towards delivering a modern banking experience and efficient service to customers. The new branch strengthens the Bank’s extensive network over 660 branches and more than 2,400 customer service centers across the island. Through this network, customers are able to seamlessly carry out…

The Institute of Chemistry Ceylon (IChemC) hosted its second Open Day on April 25, at its Malabe campus as part of its enrollment campaign for the upcoming academic year. The event was designed to provide prospective students and parents with comprehensive insights into the degree and diploma programmes offered by its educational arm, the College…

At a pivotal stage where the Sri Lanka Export Credit Insurance Corporation (SLECIC) is building on a strong foundation and embracing a renewed strategic direction, the Corporation has announced the appointment of Upeksha Subasinghe as its new General Manager.  Subasinghe is a seasoned professional with extensive experience in Human Resource Management, Administration and Leadership. He…

Smallholders of oil palm cultivation and experts in the economic agriculture sector emphasized that resuming oil palm cultivation can easily earn foreign exchange while quenching the local demand for edible oil. They pointed out that Sri Lanka is the only country in the world that has banned oil palm cultivation while countries like Malaysia, Indonesia,…

Sri Lanka Insurance Corporation General Limited (SLICGL) delivered a remarkable performance in 2025, reinforcing its position as Sri Lanka’s leading general insurer with outstanding results across key financial metrics. The company sustained a Gross Written Premium (GWP) of Rs. 30.3 billion, demonstrating the resilience of its diverse portfolio in a competitive and challenging environment. SLICGL’s…