Economy

Colombo land prices rise 11.4% in first half of 2025

Published

8 months ago

August 31, 2025

The Central Bank of Sri Lanka (CBSL) says Colombo District land values rose sharply in the first half of 2025, with the Land Valuation Indicator (LVI) increasing by 11.4 per cent compared to the same period last year.

According to the CBSL’s Statistics Department, all three sub-indicators of the LVI, Residential, Commercial, and Industrial, contributed to the growth.

The CBSL further said that residential land values posted the highest annual increase of 14.4 per cent, followed by Commercial (11.5 per cent) and Industrial (8.4 per cent).

Meanwhile, LVI and its sub-indicators increased at a higher pace on a semi-annual basis as well during the first half of 2025 compared to the values recorded in the second half of 2024.

Source : Newswire

Economy

Sri Lanka’s tourist arrivals exceed 840,000 so far this year

Published

15 hours ago

April 27, 2026

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The Sri Lanka Tourism Development Authority (SLTDA) stated that the number of tourist arrivals in Sri Lanka so far has crossed the 840,000 mark.

Accordingly, a total of 840,411 tourists have visited the country between January 1 and April 22, 2026.

The highest number of arrivals has been recorded from India, with 176,465 tourists, the SLTDA noted.

A significant number of visitors have also arrived from countries including the United Kingdom, Russia, Germany, and China.

Meanwhile, the SLTDA stated that a total of 99,777 tourists arrived in the country between April 1 and April 22, 2026.

However, the data indicate that daily tourist arrivals in April have declined significantly compared to previous months.

Economy

Haputale restaurant fined Rs. 1 million forover pricing bottled water

Published

1 day ago

April 27, 2026

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A restaurant in Haputale has been fined Rs. 1 million for selling a bottle of drinking water above the maximum retail price.

The fine was imposed by the Bandarawela Magistrate’s Court on April 24 following a raid conducted by the Consumer Affairs Authority Badulla District Office.

The raid targeted a restaurant owned by a private company on Welimada Road in Haputale. Authorities found that the establishment had sold bottled water at a price exceeding the approved limit.

The court subsequently imposed a fine of Rs. 1,000,000 on the hotel.

Economy

Sri Lanka to Launch First Digital Motor Insurance Card from May 1

Published

3 days ago

April 25, 2026

admin

Sri Lanka’s Ministry of Finance, Planning, and Economic Development has announced that the country’s first digital motor insurance card will be introduced from May 1.

The Ministry stated that this initiative represents a significant step toward advancing national digitalization while also enhancing public safety.

By replacing physical plastic cards, the move is also expected to contribute to environmental sustainability across the country.

The Ministry added that the digital motor insurance card will be officially launched in collaboration with the Insurance Regulatory Commission of Sri Lanka, the Insurance Association of Sri Lanka, and the Sri Lanka Police.