In a significant development aimed at revitalising maritime infrastructure, the Cabinet of Ministers approved the signing of a Memorandum of Understanding (MoU) to obtain a proposed financial grant from India for the renovation of the Karainagar Boat Yard.

Tourism Minister Harin Fernando yesterday revealed that the minimum room rates (MRR) imposed on hotels will be scrapped by the end of this month and allow competition to return to the industry.

Chinese Ambassador to Sri Lanka Qi Zhenhong called on Prime Minister Dinesh Gunawardena at the Temple Trees in Colombo on Thursday (02) to discuss ways and means of early implementation of the agreements and Memorandums of

Tourism stakeholders said Sri Lanka now has the highest visa costs in Asia, creating a significant barrier for tourists compared to competing destinations like Thailand, Vietnam and many others that offer free visas or charge much lower fees.

Sri Lanka’s Foreign Minister Ali Sabry and Saudi Arabia’s Minister of Investment Khalid Al Falih have signed a Memorandum of Understanding (MoU) on Investment Promotion between the two countries.

A leading Sri Lankan businessman, through his company Supreme Global Holdings, has entered the race to acquire the national carrier, SriLankan Airlines.

As per the recently issued gazette notification, the income tax payments can only be made using thre methods.

Sri Lanka’s apparel industry saw its revenue cross the US$ 1 billion mark in the first quarter (1Q24) with exports expanding by 7.7 percent in March.

Having encountered “some setbacks” in the first round of sovereign bond restructuring talks in London last week, the Steering Committee of the Ad Hoc Group of Bondholders and the Sri Lankan official negotiators have pledged to continue the dialogue to arrive at a consensus within a few weeks, Finance Ministry sources confirmed.