Consolidated revenue of Rs.42.4 billion, up 9.9% Healthcare revenue up 19.3% YoY to Rs.21 billion Diversified Sri Lankan conglomerate Sunshine Holdings PLC (CSE: SUN) has recorded a consolidated revenue of Rs.42.4 billion during the first nine months of the current financial year (9MFY24). Amidst the backdrop of moderately stable macroeconomic conditions, the Group has reported […]

Dr. Elias Joseph Jeyarajah, represented the Global Tamil Forum (GTF) at the recent launch of district level workshops for ‘National Conversation’ based on the Himalaya Declaration. The first inter-religious coordination committee promoting conversations on the merits of the Himalaya Declaration was held in Kurunegala on February 09. In spite of opposition from various quarters, particularly [̷...

Iranian tea importers had offered to double the quantity of tea they buy from Sri Lanka under the Iranian tea-for-oil barter mechanism from its current USD five million to US 10 million during the winter months – December to March -Niraj de Mel, President of the Sri Lanka Tea Board (SLTB) told journalists on Saturday […]

By Shamindra Ferdinando SLPP parliamentary group member Sarath Weerasekera yesterday (11) took exception to a government decision to finalise technical level talks on the proposed Economic and Technical Cooperation Agreement (ETCA) with India before the end of March this year. The issue hadn’t been taken up at a government parliamentary group at any level or discussed […]

“We all know when the president signals right, he often turns left” The president waxes eloquent about how he has turned the economy around, but all those are hollow words despite the semblance of normality achieved thanks to the moratorium on debt repayment, TNA MP MA Sumanthiran told parliament on Thursday speaking on the debate […]

ECONOMYNEXT —The process followed in enacting Sri Lanka’s controversial Online Safety Act (OSA) raises serious questions on law-making and its impact on constitutional democracy, the Centre for Policy Alternatives (CPA) said, urging the government to replace the act with a law that “genuinely addresses” concerns on online safety. Claiming that the process of drafting the […]

By SHIHAR ANEEZ ECONOMYNEXT –China has shown some flexibility in its stance over the Free Trade Agreement (FTA) with Sri Lanka after the island nation briefly halted the negotiations following seven rounds of talks due to disagreement on tariff list, level of liberalization, and a review process, Colombo’s Chief Negotiator K J Weerasinghe said. Sri Lanka […]

By Zinara Rathnayake Jezima Mohammed has run a small workshop and boutique, Jez Look Batiks, from her home in Matara, Sri Lanka, for nearly seven decades. Now in her 80s, she still works every day. When visitors stop by, the batik artist proudly shows off framed letters from Buckingham Palace and a photo of Queen Elizabeth II […]

By Rathindra Kuruwita Thousands of jobs in Sri Lanka’s book publishing industry will be lost due to the imposition of VAT (18%) on books publishers claim.They claim that about 30 percent of bookshops have been closed due to the economic crisis. There had been no taxes on books before 01

The Ceylon Electricity Board (CEB) is planning to reduce its workforce to 18,000, CEB General Manager, Eng. Narendra de Silva said recently before a parliamentary committee. Speaking before the Select Committee of Parliament to Investigate Causes for Financial Bankruptcy declared by the Government, he said that problems in the energy sector were a key reason […]

President Ranil Wickremesinghe in his address at the 7th Indian Ocean Conference in Perth, focusing on the theme “Towards a Stable and Sustainable Indian Ocean, ” emphasized the urgency of addressing the climate crisis, noting the Indian Ocean’s vulnerability to warming and rising sea levels

By Ifham Nizam Plant extinctions signify a loss of biodiversity with profound ecological consequences. Deforestation, urbanization, and changes in land use significantly contribute to habitat loss, while altered climatic conditions impact plant species adapted to specific environments, says a top Scientist. Speaking to The Island, Research Professor S. Wijesundara of the National Institute of Fund...

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President Ranil Wickremesinghe said in Parliamenty yesterday he was aware that Value Added Tax (VAT) was a burden on the public. He said it would be possible to reduce VAT with the passage of time. Delivering the government policy statement at the commencement of the new session of Parliament, the President said: “The prior scarcity […]

By DR. C. S. WEERARATNA A trade deficit typically occurs when a country does not produce enough goods for its citizens. When production cannot meet demand as in Sri Lanka, there is a need to import thereby widening the trade deficit.  A persistent trade deficit is detrimental to a country’s economy because it is financed […]