The Sri Lanka Export Development Board (EDB), together with the International Trade Centre (ITC), Switzerland’s State Secretariat for Economic Affairs (SECO), and the Swedish International Development Cooperation Agency (SIDA), recently launched the second phase of the Global Textile and Clothing Programme (GTEX2) in Sri Lanka. The initiative, implemented from 2024 to 2027, aims to enhance…
Aitken Spence Travels marked a significant milestone with the handling of The Ritz-Carlton Yacht Collection’s first call to the ports of Colombo & Galle, on the 14th & 15th of December 2025. This inaugural visit reflects Aitken Spence’s ongoing efforts to introduce world renowned, ultra-luxury cruise brands to Sri Lanka, elevating the country’s profile within…
The Asian Development Bank (ADB) has upgraded its economic growth forecasts for Sri Lanka in its December 2025 Asian Development Outlook (ADO), highlighting a robust recovery driven by strong private sector credit expansion, buoyant consumption, and improved investor confidence. However, the report cautions that Sri Lanka’s growth prospects may be dampened by the impact of…
The Ministry of Industry and Entrepreneurship Development has initiated discussions on the Industry Recovery Foster Program (IRFP) and the Industry Development Foster Program (IDFP) to expedite the revival of large scale manufacturing industries affected by Cyclone “Ditwah”. The discussion, held recently at the Ministry, brought together leading Sri Lankan corporates under a public-private partnership framework,…
Sri Lanka recorded USD 673.4 million in workers’ remittances in November 2025, according to data released by the Central Bank of Sri Lanka (CBSL). Cumulative inflows from January to November 2025 reached USD 7.19 billion, marking a 20.7% increase year-on-year compared to the same period in 2024.
L B Finance PLC has received regulatory approval from the Central Bank of Sri Lanka to establish a wholly owned subsidiary in the Philippines, marking the company’s latest step in expanding its regional footprint. In a corporate disclosure to the Colombo Stock Exchange, the company said the Director of the Department of Supervision of Non-Bank…
Colombo West International Terminal (Private) Limited (CWIT) has made a financial contribution of Rs. 100 million to the government’s Rebuilding Sri Lanka Fund, established to provide relief to communities affected by Cyclone Ditwah. The cheque was handed over this afternoon (12) at the Presidential Secretariat to Secretary to the President, Dr. Nandika Sanath Kumanayake, by…
Prime Minister Dr. Harini Amarasuriya stated that the government is taking steps to strengthen local exporters by making trade facilitation, customs procedures, and investment approvals more efficient, and by improving export services. The Prime Minister made these remarks while addressing the 27th Presidential Export Awards 2024/25 ceremony organized by the Ministry of Industries and Industrial…
Renowned chartered accountant and corporate leader Rajan Asirwatham, who served as the Senior Partner and Country Head of KPMG Sri Lanka for more than four decades, has passed away. Mr. Asirwatham led KPMG, formerly Ford Rhodes Thornton & Co., from 1961 to 2008, guiding its transformation from an audit-focused firm into a diversified professional services…
The Asian Development Bank (ADB) has approved a $200 million loan to support the ongoing Mahaweli Development Program, Sri Lanka’s largest multiuse water resources development initiative. The program aims to transfer excess water from the Mahaweli River to the drier northern and northwestern parts of Sri Lanka. The Mahaweli Water Security Investment Program Stage 2 Project will…
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