Business
Economy, markets, and business news
Early Cultivation Key to Two Successful Seasons
Both cultivation seasons could be successfully completed without major difficulties if the Maha season is started early and the 2027 Yala season begins by March 15 or early April, according to Enginee…
Temporary Application Process for Police Clearance Reports
The Police Clearance Division of the Sri Lanka Police, located on the 17th floor of the Suhurupaya Building in Battaramulla, issues police clearance certificates to applicants. The application process…
14 Lamborghinis Transported Through Sri Lanka
Amid disruptions to global shipping and trade caused by the closure of the Strait of Hormuz due to the ongoing conflict in the Middle East, Sri Lanka is emerging as an alternative transit hub for the…
Sri Lanka Expects to Complete IMF Programme in Second Half of 2027
Sri Lanka expects to complete its four-year programme with the International Monetary Fund (IMF) by the second half of 2027, Central Bank Governor Dr. Nandalal Weerasinghe has said. He said there is c…
Pay July VAT by August 20
The Inland Revenue Department has informed taxpayers that the Value Added Tax (VAT) for July 2026 must be paid on or before August 20. The Department stressed that penalties will be imposed for failur…
Cabinet Approves Long-Term Fuel Purchases
Cabinet approval has been granted for a proposal by the Ceylon Petroleum Corporation to purchase Petrol 92 Unl, Murban crude oil and Diesel (0.05% M.S.) under long-term contracts. Bids were invited fr…
$715 Mn Sent Abroad Through 105 Fake Companies
The Criminal Investigation Department (CID) has launched a wide-ranging investigation into fraudulent import documents used before January 2023, following the discovery that nearly US$715 million had…
Chinese, Indian Investors Eye Mattala Airport
Chinese and Indian companies are among the investors who have submitted proposals to operate the Mattala Mahinda Rajapaksa International Airport, Ports, Aviation and Energy Minister Anura Karunatilaka…
Two Arrested with Counterfeit Rs.5,000 Notes
Two suspects have been arrested for allegedly possessing two counterfeit Rs.5,000 currency notes while attempting to deposit money at a bank in the Mulankavil area. The suspects were arrested by offic…
Suspect Arrested for Printing Counterfeit Currency
A 53-year-old suspect has been arrested by the Western Province South District Crime Division for allegedly printing counterfeit currency notes at a communication centre in Mirihana. The suspect was a…
Trident Chemphar Coal Deal Causes Rs.5.68bn Loss to EGL
The Lanka Electricity Generation Private Company (EGL) is estimated to have suffered a direct financial loss of Rs.5.68 billion within four months due to the coal deal involving Trident Chemphar, whic…
Rs. 2.9 Billion in Unpaid Taxes: Five Coconut Oil Firms Named
Five companies that imported unrefined coconut oil owe Rs. 2.891 billion in outstanding taxes for 2024, Deputy Minister of Economic Development Nishantha Jayawira told Parliament yesterday (06). The D…
Rice company fined Rs. 1 million for selling Nadu rice above price cap
A Polonnaruwa-based company has been fined Rs. 1 million for supplying red Nadu rice to the market at Rs. 225 per kilogram in 2022, exceeding the maximum retail price of Rs. 220 set by the Consumer Af…
TM App Added to Prohibited Pyramid Scheme List
Following an investigation conducted under Section 83(C) of the Banking Act No. 30 of 1988 (as amended), the Central Bank of Sri Lanka has determined that the TM App application is engaged in a prohib…
Rs.237 Million Allocated for “Ceylon Tea Village” Project
Additional funds exceeding Rs.237 million have been allocated to accelerate the “Ceylon Tea Village” 500 tea village project. The Ministry of Rural Development, Social Security and Community Empowerme…
Lanka Sathosa Reduces Prices of 11 Essential Items
Lanka Sathosa has reduced the prices of 11 essential commodities with effect from today (24), the Ministry of Trade announced. The Ministry stated that the price reductions were introduced to provide…
US Cuts Sri Lanka Tariff to 10%
The United States has reduced its tariff on Sri Lankan exports to 10%, marking a significant step in strengthening bilateral relations between the two countries, Sri Lanka's Ambassador to the United S…
Police Warn of Fake Officer Financial Scams
Sri Lanka Police have warned the public to remain vigilant against financial scams carried out by fraudsters who impersonate police officers using photographs of police personnel and fake social media…
Special Arrack Price Increased by Rs. 20
The Distilleries Company of Sri Lanka (DCSL) has announced that the price of a 750ml bottle of Special Arrack has been increased by Rs. 20. The company stated that the price revision was made due to t…
New Insurance Scheme for Vegetable and Tuber Crops
A new insurance scheme for tuber and vegetable cultivations has been introduced by the Agricultural and Agrarian Insurance Board. Accordingly, crops recommended by the Department of Agriculture, inclu…
