Sri Lanka’s Ceylon Tobacco Company said its March quarter cigarette sales were down from a year earlier, leading to an absolute revenue fall as well amid tax hikes and an economic slowdown.

Sri Lankans working abroad sent back US$ 543.8 million in April, slightly eased from US$ 572.4 million in March but substantially higher from US$ 454.0 million a year ago.

Sri Lanka will soon recommence discussions with bondholders and is optimistic on achieving a resolution regarding debt restructuring by Jun 2024. The negotiations primarily focused on the...

Sri Lanka is likely to see a minimum one notch upgrade in sovereign credit ratings to triple C (CCC) in two to three weeks upon completion of external debt restructuring process, according to Thewarathanthri.