Category: Business and Economy

Sri Lanka could develop gemstones into a strategic foreign exchange asset by establishing a national gem reserve similar to its dollar and gold reserves, while using the initiative to expand imports, value addition and exports, according to Sri Lanka Miners and Dealers Association Director Dr. Sanjeewa Fonseka. Dr. Fonseka, who is also Chairman of Ceylon…

A team from the International Monetary Fund will be in Sri Lanka from September 10 to 23 for the 7th review of its program, Mission Chief Evan Papageorgiou said in a statement. The 2026 Article IV Consultations will also be held at the same time. “The IMF team will communicate its findings at the end…

Reaffirming its commitment to leading the nation toward a sustainable digital economy, the Commercial Bank of Ceylon has taken its digital payments drive to Jaffna, undertaking its most extensive single-region merchant canvassing exercise to date in support of the Central Bank of Sri Lanka’s (CBSL) national digital payments promotional programme. The initiative, conducted as part…

Delivering on its commitment to secure the future of all Sri Lankans, Cargills Bank introduced its new ‘Junior Kotipathi’ Investment Savings Account. The product was officially unveiled during a special launch event on August 22 at the Funcity area in Excel World, where the bank’s customers were invited to experience the new offering. A future-facing,…

Hayleys Agriculture Holdings Limited launched its new Hayleys Grain & Food Processing Machinery business at ProFood, ProPack & AgBiz 2026, held from 21st  to 23rd  August 2026 at the BMICH, Colombo, marking a significant expansion of its portfolio into specialised machinery and technology solutions for Sri Lanka’s grain and food processing industries. Hayleys Agriculture used…

A special discussion has been held to expedite the finalisation of the India-Sri Lanka Memoranda of Understanding (MoUs) planned for the development of the Kankesanthurai Port (KKS) with the assistance of the Indian Government. The discussion was held yesterday (3) at the Ministry premises under the leadership of Minister of Energy, Ports and Civil Aviation,…

While the Colombo Stock Exchange’s All Share Price Index (ASPI) demonstrated a broad-based recovery in August, with both key indices moving upwards, crossings made up 61.5% of the Rs 68.4 billion monthly turnover indicating thinner liquidity within the market, SenFin Securities’ Monthly Equity Report for August said. “Activity was concentrated, 95 crossings accounted for 61.5%…

Sri Lanka welcomed 191,704 international tourists in August 2026, with India continuing to dominate the tourism market, according to the latest figures released by the Sri Lanka Tourism Development Authority (SLTDA). According to the SLTDA, India topped with 47,253 arrivals, representing around 25% of all tourists who visited Sri Lanka during the month, while The…

Demonstrating its commitment to environmental sustainability and wildlife conservation, People’s Bank has launched a pioneering Corporate Social Responsibility (CSR) initiative aimed at minimizing elephant–train collisions in Sri Lanka. The project, fully funded by People’s Bank, is implemented in collaboration with Clean Sri Lanka, Sri Lanka Railways, the Department of Wildlife Conservation and the Department of…

The  Government is taking measures to increase Sri Lanka’s annual export revenue from the gem and  jewellery industry to US$ 3 billion and transform Ratnapura into a major global gem trading hub, Deputy Minister of Industry Chathuranga Abeysinghe said. The Deputy Minister made these observations while participating in the Sri Lanka Gem and Jewellery Research Symposium 2026, held at…