According to the Census and Statistics Department, Sri Lanka's GDP contracted by 3.1% in the second quarter of 2023, an improvement from the worrying 11.5% contraction in the first quarter, indicating a steady recovery. Year on year GDP growth was negative at 3.1%...

Fitch Ratings announced a downgrade of Sri Lanka's Long-Term Local-Currency (LTLFC) Issuer Default Rating (IDR) from 'C' to 'RD' (Restricted Default). In a recent domestic debt exchange, local-currency bond ratings involved in the exchange dropped to...

The manufacturing sector displays subdued performance across all sub-indices, particularly affecting the textile and apparel segment due to a lack of new orders. Conversely, the service sector showcases promising trends with increased new bu...

For the first time since March 2020, the Government has relaxed import restrictions on specified vehicles designed for public transport use. Buses, trucks, browsers, m...