SriLankan Airlines has announced changes to its European flight routes, including those to London and Paris, due to recent airspace closures in parts of the Middle East caused by escalating regional tensions. The national carrier stated that these reroutings are essential to ensure the safety of passengers and crew. As a result, some flights are…
The Sri Lanka–Romania Business Forum, held on 26 May 2025 in Bucharest, marked a significant step forward in economic diplomacy between the two countries. Organized by the Embassy of Sri Lanka in Romania, in collaboration with the National Chamber of Commerce of Sri Lanka (NCCSL) and the Bucharest Chamber of Commerce and Industry (CCIB), the…
Sri Lanka has raised electricity tariffs by 15% as part of crucial prior actions required for the next disbursement under its USD 3 billion IMF bailout program, the International Monetary Fund confirmed on Thursday (12). IMF Communications Director Julie Kozack said the tariff hike, along with newly issued bulk supply transaction guidelines, were among the…
Reuters – Stocks dived in Asian trade on Friday, led by a selloff in Wall Street futures, while oil prices surged after Israel conducted a military strike on Iran, sending investors scurrying to safe havens such as gold and the Swiss franc. The escalation in hostilities in the Middle East – a major oil producing region – adds…
Reuters – Oil prices jumped more than 7% on Friday, hitting their highest in months after Israel said it struck Iran, dramatically escalating tensions in the Middle East and raising worries about disrupted oil supplies. Brent crude futures rose $5.29, or 7.63%, to $74.65 a barrel by 0142 GMT after hitting an intraday high of…
The Central Bank of Sri Lanka (CBSL), with a view to facilitating sustainable revival of businesses that were adversely affected during the recent past has advised the licensed commercial banks and licensed specialised banks (hereinafter referred to as licensed banks) to provide further concessions to those SME borrowers who commenced discussions for business revival with…
By Advocata Institute Sri Lanka’s electricity tariffs have never made much economic sense. They’re full of distortions, cross-subsidies and based on outdated assumptions. This is why the Advocata Institute recently made a formal submission to the Public Utilities Commission of Sri Lanka (PUCSL), proposing a complete overhaul of the way electricity is priced. The goal…
Sri Lanka’s economic recovery is expected to lose momentum in 2025, with growth projected to decelerate to 3.5%, according to the World Bank’s latest Global Economic Prospects report. The downgrade comes as the country continues to grapple with the scarring effects of its recent economic crisis, persistent structural constraints, and heightened global uncertainties. The report…
Q Collection Pte. Ltd., a Singapore-based apparel manufacturer recognised for its operational excellence and product diversification, has announced the establishment of manufacturing operations in Sri Lanka with a strategic support from Hela Apparel Holdings PLC, a leading global apparel solutions provider. As part of this process, Q Collection has acquired and assumed operational control of…
LOLC Finance PLC has unveiled a major share repurchase plan targeting over 3.5 billion shares, as part of a strategy to enhance shareholder value and manage capital more efficiently. In an official announcement made under CSE Listing Rule 7.10.1(d), the company disclosed that its Board of Directors approved the buyback on 9th June 2025. The…
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