Category: Business and Economy

SRI Lanka’s tourism arrivals surpassed 1.9 million in 2026, with over 49,900 visitors registered in the first eight days of November, but remained below last year’s pace ahead of the crucial winter season. According to the latest data released by the Sri Lanka Tourism Development Authority (SLTDA), a total of 49,929 tourists arrived between 1…

Sri Lanka’s economic growth has slowed sharply while inflation, youth unemployment and poverty continue to put pressure on the public, former Foreign Minister Prof. G.L. Peiris said yesterday. Addressing a media briefing, organised by the People’s United Opposition, in Colombo, Prof Peiris said economic growth had declined from 5.8% in the second quarter of 2025…

The Government’s Budget recorded a surplus of Rs. 22.3 billion in the first nine months of 2026, reversing a deficit of Rs. 441.4 billion a year earlier, as revenue from motor vehicle imports drove a 20% increase in collections that outran a slower rise in spending. This is according to the latest Finance, Planning and…

Sri Lanka’s migrant workers sent home a record-breaking $735.6 million in October 2026, marking a 3.31% year-on-year increase and extending an extraordinary streak of robust foreign currency inflows to nine consecutive months. The achievement underscores the remarkable resilience of the nation’s overseas workforce and reflects a decisive shift toward formal banking channels, even as geopolitical…

Sri Lanka and Kazakhstan are looking to further strengthen bilateral relations, with greater cooperation in investment, trade, agriculture, tourism and energy. The matter was discussed when Kazakhstan Ambassador to Sri Lanka Sergey Viktorov met Speaker of Parliament Dr. Jagath Wickramaratne at Parliament recently. The Speaker reaffirmed Sri Lanka’s longstanding friendship with Kazakhstan, since the establishment…

The Embassy of Sri Lanka in Ankara, in collaboration with the Gaziantep Chamber of Commerce, successfully organized the first-ever Sri Lanka Business Forum in Gaziantep on 03 November 2026, bringing together members of the Turkish business community to explore opportunities for closer economic cooperation with Sri Lanka. The Forum aimed at showcasing Sri Lanka’s trade…

Foreign investors sold Sri Lanka rupee bonds and exited for a third straight week in the week ended on November 5, Central Bank data showed, despite slight appreciation in the rupee currency. With the latest outflows, the island nation has seen net foreign selling in five of the last 21 weeks. Offshore investors sold a…

The  Government of Sri Lanka and the Asian Development Bank (ADB) today signed a loan agreement for USD 100 million to implement the Skills Development System Transformation Programme, financed under the result-based modality.  The agreement was signed at the General Treasury in Colombo by Dr. Harshana Suriyapperuma, Secretary of the Ministry of Finance, Planning and…

Sri Lanka’s Inland Revenue Department (IRD) has deferred the mandatory requirement to submit a Taxpayer Identification Number (TIN) Certificate for specified transactions until April 1, 2027, after people panicked and lined up to get registered. In light of the administrative bottleneck that followed, the government has decided to push back the deadline. The rule, which…

The newly concluded European Union-India Free Trade Agreement could reshape the competitive landscape for Sri Lankan exports, even as the government moves to safeguard preferential access to a vital market. Deputy Minister of Finance and Planning Anil Jayantha Fernando stated that Indian exporters are expected to gain duty-free or concessionary access to the European Union…