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‘s economy
In the high-stakes world of trade and logistics, corruption at Sri Lanka’s customs, IRD, ports, and airports is not just an inconvenience—it’s a crisis that’s crippling the nation’s export sector. Outdated, manual systems have become breeding grounds for corruption, where bribery and inefficiency rule, bleeding exporters dry and stifling economic growth. The country stands at […]
Sri Lanka’s Industries call for reduction in water tariffs to boost competitiveness
A collective of trade associations including the Joint Apparel Association Forum (JAAF), the Federation of Chambers of Commerce and Industry in Sri Lanka (FCCISL), the European Chamber of Commerce in Sri Lanka (ECCSL), the Exporters Association of Sri Lanka (EASL), the International Chamber of Commerce Sri Lanka (ICCSL), and the National Chamber of Exporters (NCE), […]
‘s pre-poll announcements of subsidies and pay hikes
Transparency International Sri Lanka (TISL), in its role as an election watchdog that scrutinizes the misuse of public resources for election propaganda during the Presidential Election 2024, highlights that the Government’s recent pre-poll announcements on providing various subsidies and salary increments are a blatant and intentional violation of election laws. The Government last week announced that the […]
Claims of Large Outstanding Taxes Are an Illusion; Over Rs. 1Tn Tax Revenue Suspended Due to Court Cases: Officials
Commissioner General of the Excise Department M.J. Gunasiri dismissed claims of significant arrears in three major government revenue sources—namely the Inland Revenue Department, Sri Lanka Customs, and the Excise Department—as myths. Speaking at the press briefing titled “Collective Path to a Stable Country” held at the Presidential Media Centre (PMC), today (26), he clarified that […]
Hambantota International Port projects 50-pct growth in 2024
The Hambantota International Port (HIP) has experienced a substantial increase in volumes, with a 40% growth recorded in 2024 to date. The port’s Commercial and Marketing division says the growth is expected to reach 50% by the year end. “The impressive performance and strategic growth of the port in 2024 demonstrate the Hambantota International Port […]
IFC Launches First-of-its-kind Program to Support Financial Institutions in Addressing Financial Abuse
To support financial institutions in addressing financial abuse, IFC today launched ‘Empower Finance’, an 18-month program implemented with support from the Government of Australia. Through this initiative, IFC will convene nine financial institutions across five countries collectively serving more than 30 million customers in Asia and the Pacific and global experts in financial-abuse prevention to […]
The Ceylon Chamber of Commerce Hosts Economic Policy Debate Ahead of Presidential Election
The Ceylon Chamber of Commerce is proud to announce that in the lead-up to the Presidential election, it will host Sri Lanka’s first-ever debate on economic policy featuring the leading economic policy experts nominated by the four main Presidential candidates. ‘Defining the Vision – THE Debate’ is set to take place on 29th August at […]
Opinion: Is Sri Lanka’s state sector as inefficient as alleged?
By Indika Hettiarachchi As Sri Lanka’s presidential and parliamentary elections get closer there are growing accusations that politicians have contributed to the inefficiency in the state sector (under each other’s regime). This is in addition to claims by various organization that Sri Lanka’s public sector deteriorated throughout post-colonial (administration) period, and the “bloated’ public sector […]
Union Bank Unveils Upgraded UBgo Mobile App as Part of Digital Transformation Agenda
Union Bank is excited to announce the launch of the upgraded UBgo mobile app, marking a significant milestone in the bank’s digital transformation agenda. This upgrade is a testament to Union Bank’s commitment to transforming lives through customer-centric digital innovations. The enhanced UBgo app introduces a host of new features designed to offer a more […]
Seylan Bank Relaunches New Factoring Financial Services to Enterprising Businesses
Seylan Bank has expanded their comprehensive suite of financial services with Seylan Factoring, a means for clients to raise funds by trading outstanding trade receivables. Unlike traditional lending, which may consider a broader range of factors and sources for repayment, factoring is primarily dependent on the receivables’ quality and collection for setting up the facility. […]