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New Case-File Tracking System Revolutionises Anti-Corruption Investigations
In a landmark move to enhance the efficiency and effectiveness of addressing bribery and corruption related matters in Sri Lanka, the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) in partnership with the United Nations Development Programme (UNDP) in Sri Lanka, with funding from the Government of Japan through the Japanese Supplementary Budget (JSB) […]
Sri Lanka’s Economic Recovery Remains Incomplete as Key Challenges Remain, says World Bank
Sri Lanka’s recent economic performance has been strong. Despite this, the recovery remains incomplete, with growth still below pre-crisis levels and poverty significantly elevated. Strengthening the recovery will require continued macroeconomic stability, urgent structural reforms, and more efficient, better-targeted public spending, says the World Bank. Released today, the latest Sri Lanka Development Update, Better Spending for […]
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FitchRatings has affirmed Sri Lanka’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘CCC+’. Fitch typically does not assign Outlooks to sovereigns with a rating of ‘CCC+’ or below. A full list of rating actions is at the end of this Rating Action Commentary. Key Rating Drivers Ratings Affirmed: Sri Lanka’s ‘CCC+’ sovereign rating remains constrained by […]
CA Sri Lanka submits comprehensive National Budget 2026 proposals
In a significant move underscoring its commitment to national fiscal stability and economic growth, the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) formally presented its strategic proposals for the forthcoming National Budget 2026 to the Government. The proposal was made to Dr Harshana Suriyapperuma, Secretary to the Ministry of Finance, further solidifying […]
Ceylon Chamber Submits Recommendations to Strengthen Draft Public-Private Partnership Bill
The Ceylon Chamber commends the Government’s effort to introduce a legislative framework for PPPs through the Draft Public-Private Partnership (PPP) Bill, which is a requisite precursor to enhancing Sri Lanka’s ability to attract private investment in infrastructure and service delivery. Amidst a tight fiscal environment for the Government, we believe PPPs will be conducive for […]
Building Bridges Through IVLP: A Sri Lankan Entrepreneur’s Journey Across America
When Jehan Wijesinghe boarded his flight to Washington, D.C., he wasn’t just traveling to the United States. He was stepping into a rare opportunity: the International Visitor Leadership Program (IVLP), the U.S. State Department’s flagship professional exchange. This year, he had the privilege of being the only delegate from Sri Lanka, joining peers from 18 […]
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Fitch Ratings has assigned Sri Lanka-based Hayleys Fentons Limited (HFL) a National Long-Term Rating of A+(lka). The Outlook is Stable. The rating reflects HFL’s leading market share in domestic rooftop solar panel sales and installation, which drove cash flow in the financial year ending March 2025 (FY25), alongside slowing growth amid regulatory risks. Diversification into […]
JAAF stresses need for proven VAT refund system to safeguard export stability post-SVAT
The Joint Apparel Association Forum (JAAF) today reaffirmed its commitment to working with government authorities as Sri Lanka prepares to remove the Simplified Value Added Tax (SVAT) scheme on 1st October. While emphasising that the removal of SVAT is now inevitable, JAAF noted that the industry has been in continuous dialogue with policymakers on the […]
Colombo Stock Exchange revises Transaction Fees for Corporate Debt Securities
The Colombo Stock Exchange (CSE) announced a revision to the transaction fees applicable to Corporate Debt Securities traded on its Automated Trading System (ATS) following approval from the Department of Fiscal Policy of the Ministry of Finance. The approval, conveyed through the Securities and Exchange Commission of Sri Lanka (SEC), allows for a reduction in […]
Sri Lanka’s banks present far-reaching proposals to Finance Minister to drive economic recovery
Sri Lanka’s banking sector has placed itself at the heart of the country’s economic recovery roadmap, presenting a far-reaching set of proposals for inclusion in the 2026 National Budget. The proposals, developed and submitted by the Sri Lanka Banks’ Association (SLBA) on behalf of all licensed commercial banks, were shared with Deputy Minister of Finance, […]