The Colombo Stock Exchange (CSE) was yesterday informed that the Nepalese billionaire Binod Chaudhary’s CG Corp Group has completed the deal to acquire the majority stake of Union Bank of Colombo PLC.

Sri Lanka’s LOLC Group is raising US $ 100 million through the iissuance of sustainable bonds, which will be listed on the Frankfurt Stock Exchange.

IndiGo yesterday announced the introduction of new direct flights between Hyderabad and Colombo from 2 November.

Emirates and SriLankan Airlines have signed a reciprocal interline agreement to boost connectivity for passengers of both airlines. The partnership will enable access to new points on each other’s networks via Colombo and Dubai, utilising a single

Hong Kong-based airline Cathay Pacific will resume its flights to and from Colombo beginning February 2, 2024, after a hiatus of four years.

The US $ 1.4 billion equivalent yuan swap with the People’s Bank of China will become usable when Sri Lanka’s foreign reserves reach about US $ 4.2 billion, the Central Bank Governor Dr.Nandalal Weerasinghe said.

The Monetary Board of the Central Banetary Board has decided to cancel the licence issued to Bimputh Finance PLC (BFP)under the Finance Business Act to carry on finance business, with effect from September 1, 2023.

Inflation in the Colombo district as measured by the Colombo Consumer Price Index (CCPI) decelerated to 4 percent in August on year-on-year (YoY) basis, from 6.3 percent in July, the Department of Census and Statistics said.

The National Cricket Team of Bangladesh, popularly known as The Tigers, became the latest international cricket stars to fly SriLankan Airlines.

In an effort to alleviate the current severe congestion at the Katunayake Bandaranaike International Airport (BIA), which is experiencing nearly 25,000 passenger arrivals and departures a day, Airport and Aviation Services (Sri Lanka) (Private) Limit

After slapping 40 percent tax on onion exports with immediate effect, India is expected to ban mills from exporting sugar in the next season beginning October, Reuters reported.

The Monetary Board of the Central Bank has decided to impose administrative caps on certain lending products of financial services institutions, as interest rates charged on these products still remain at extremely high levels despite the sharp decli

SriLankan Airlines has relaunched direct flights from Colombo to Jeddah with a thrice-weekly service every Tuesday, Wednesday and Sunday.

A consortium led by renewable energy player WindForce PLC is set to undertake Sri Lanka’s largest private sector renewable energy project.

The first review of Sri Lanka’s US $ 3 billion Extended Fund Facility (EFF) from the International Monetary Fund (IMF) will be held between September 14 and 27.

China slipped into deflation for the first time in more than two years in July, official data showed Wednesday, as slowing domestic spending weighs on the post-Covid economic recovery.

The Monetary Board of the Central Bank has decided to reduce the Statutory Reserve Ratio (SRR)—the portion of deposit liabilities commercial banks are required to keep as cash deposits with the Central Bank— by 200 basis points, from 4 percent to

Pakistan plans to privatise its loss-making national carrier Pakistan International Airlines, the government said this week, as the country also seeks to outsource its airport operations in line with an IMF deal.

Uma Oya hydro-electricity project could be commissioned in the latter part of this year, Prime Minister Dinesh Gunawardena was informed today by the Iranian Ambassador in Colombo. Hashem Ashjazadeh.

Sri Lanka recorded 143, 039 tourist arrivals for July, the highest monthly arrivals recorded so far this year, the data released by Sri Lanka Tourism Development Authority said.

In an effort to bring fresh focus to Sri Lanka’s mineral resource industry, stakeholders of the sector today launched the Chamber of Mineral Exporters (CME) as a collaborative initiative.

The headline inflation in Colombo district as measured by the Colombo Consumer Price Index (CCPI) reached single-digit levels to 6.3 percent in July, easing from 12 percent in June.

The government has relaxed certain limitations on outward remittances for capital transactions and removed restrictions on current transfers of emigrants with the current and expected developments in the domestic foreign exchange market.

Sr Lanka has signed financing agreements to secure a grant of EUR 9.8 million from the World Bank, European Union (EU)and Française de Développement (AFD) to strengthen the country’s management of public finances.

The European Commission has proposed a four-year extension to the current GSP+ scheme until 31 Dec 2027, so that countries, such as Sri Lanka, do not lose their preferential access in the interim.

Financial assets are unlikely to come under the proposed wealth tax, which is set to come into effect in 2025, due to practical difficulties and complex nature in administration and tax collection, according to a top tax expert.

India’s HCL Technologies (HCL), a leading global technology company, which already has a strong presence in Sri Lanka, is exploring....

Sri Lanka and Nepal are currently exploring the possibility of having an exchange of high-level visits and business delegations, in an effort to firm up ties between the two countries, Minister of Foreign Affairs Ali Sabry said.

Fitch Ratings has revised the Outlook on Ceylon Electricity Board (CEB) to Positive from Stable while affirming its rating at (B)lka.

The assessment of 968,000 appeals and 17,500 objections received for ‘Aswesuma’ will kick off, the Ministry of Finance announced today.