In the bustling heart of Ja-Ela, Moose Clothing Company stands tall as a beacon of creativity, technical expertise, and workmanship. Established in 2018 with a vision to redefine Sri Lanka’s fashion landscape whilst bridging the gap between affordability and accessibility to good quality fashion, Moose Clothing Company has now embarked on a journey that transcends […]

by Jayasri Priyalal Jayasripriyalal59@gmail.com The greatest challenges confronting the nation-states in the current era revolve around; deplorable debt, depleted natural resources, and degraded environment. Economic growth and future prosperity for all living beings are stalled due to the varying degrees of the 3D problems emerging out of ill-conceived policy divergences propelling the linear eco...

As a collective body of exporters, we have been at the forefront of sustaining employment and ensuring a steady flow of foreign exchange, even amidst the most severe economic downturns faced by our nation. Our membership covers the majority of merchandise exports, which account for some 13% of Sri Lanka’s GDP. Today, we stand united […]

Sri Lanka’s foreign reserves had exceeded the five billion US dollar mark, State Minister of Finance, Ranjith Siyambalapitiya told journalists in Colombo yesterday (15). Siyambalapitiya said that in the recent past the Central Bank had bought large quantities of dollars from the domestic market as well. Siyambalapitiya also mentioned that Sri Lanka, in 2022, limited the imports […]

By Saman Indrajith Around 75,000 Sri Lankans have left for overseas jobs during the first three months of 2024, the Sri Lanka Bureau of Foreign Employment (SLBFE) says.SLBFE said yesterday (04) that 74,499 Sri Lankan workers had left for foreign employment, and 46 percent of them were women. There has been a slight drop in […]

Money, exchange rates, and money printing are crucial components of a nation’s monetary policy framework, wielding significant influence over economic and financial stability. This intricate relationship between these fundamental factors directly affects financial and economic dynamics. I am going to examine the nexus between these factors, clarifying their roles in the financial system and ...

President Ranil Wickremesinghe participating in a friendly discussion organized by the ‘United Youth Union’ on the theme ‘Future of our Youth’ in Polonnaruwa on Saturday (23), stressed the necessity of a new economic reform program for the country’s economic recovery. He requested for collective support from all citizens to prevent the next generation from inheriting […]

Peter Breuer, Chief of IMF Mission to Sri Lanka has claimed that the Sri Lankan economy is showing signs of progress. The monetary and fiscal measures like tax increases and particularly the debt moratorium may have resulted in giving some breathing space for the country to recover from the period of extreme hardship caused by […]

By Neville Ladduwahetty During President Ranil Wickremesinghe’s India visit in July 2023, five Memorandums of Understanding (MOU) were signed by India and Sri Lanka to establish physical connections between the two countries. This was followed more recently by the launch of the Unified Payments Interface (UPI) – a mechanism that claims to reduce the cost […]

Monday 26th February, 2024 Sri Lanka is a nation in the hara-kiri mode. It needs no enemies; it has become its worst enemy. It continues to maintain a bunch of failed, corrupt politicians and their bureaucratic lackeys responsible for ruining the economy and hell-bent on degrading vital national assets which they are planning to dispose […]

The Maldives is a strategically important nation in the Indian Ocean, now facing a high risk of debt distress due to its increasing proximity to China. The IMF has warned the Maldives that it needs to make urgent policy changes to avoid falling into debt. The Maldivian economy, which is heavily reliant on tourism, suffered […]

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 […]

Inaugurating the 5th session of the 9th Parliament of Sri Lanka President Ranil Wickremesinghe called upon all lawmakers to collaborate in nation building  even though they would be contesting elections separately. “From ancient times to the present day, our world has encountered a myriad of crises, spanning nations and personal lives alike. While some crises […]

By Hiran H.Senewiratne Sri Lanka’s inflation could rise to 7 percent in January 2024 due to the VAT increase, the Governor of the Central Bank of Sri Lanka (CBSL), Dr. Nandalal Weerasinghe warned. Speaking at a special press briefing held yesterday, Dr. Weerasinghe explained that an increase in inflation is likely due to the increase […]

By Sanath Nanayakkare When a country is in an economic crisis, it creates an environment conducive to implementing economic reforms which would be difficult to do in good times, however, it still depends on how far the reformist leaders can shape the opinion of the people and the people’s willingness to take those reforms on […]