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Major changes are on the horizon in the Sri Lankan insurance industry, with much of the groundwork laid for future growth in recent years. A government focus on regulatory improvements, the modernisation of processes, market consolidation and further investment in human resources point to continued opportunities for expansion in the sector....

Ahead of a $1bn sovereign bond maturing in January 2019, Sri Lanka went through a major political crisis during the fourth quarter of 2018, which led to an extensive legal battle. Despite economic data indicating no serious threat to inflation and private sector credit, the heavy liquidity shortage in the market and the uncertain political...

On October 26, 2018 President Maithripala Sirisena rescinded the mandate of Prime Minister Ranil Wickremesinghe to lead the government. Although the Prime Minister Wickremesinghe was reinstated on December 16, the constitutional crisis weakened business sentiment and impacted already slowing growth. The economy grew by 3.3% year-on-year (y-o-y...

Sri Lanka has long served as an important strategic destination in the Indian Ocean, catering to merchants and travellers from South-east Asia, India, the Middle East and East Africa. Formerly known as Ceylon, the island was visited and admired by the likes of Marco Polo, who called it “the finest island of its size in the world” well before...

Companies categorised as small and medium-sized enterprises (SMEs) constitute around 75% of all businesses in Sri Lanka, making them a crucial component of the economy. Boosting this vital area, both in term of raw size and contribution to value added, is thus a vital part of policy, with recent times seeing major initiatives launched with...