Finance and Mass Media Minister Mangala Samaraweera yesterday vowed that the government’s economic liberalization programme will press ahead undeterred and the delayed shipping industry liberalization is ve

Sri Lanka needs a strong medium-term debt management strategy, with a target to reduce its outstanding debt stock to 60 percent of GDP by 2030 with a long-term vision of bringing down the debt to GDP ratio to below 50 percent, according to former Cen

Sri Lanka’s red clay roofing tile industry recently urged the government to reduce excessive regulations and procedures in place with regard to sourcing their main raw material—clay— which has hiked the cost production, driving ov

Prime Minister Ranil Wickremesinghe said step would be taken to develop a vibrant economic hub around the Kankesanthurai harbour that would be transformed into a commercial port with Indian assistance.

Hutchison Telecommunications Lanka (Pvt) Ltd (Hutch) signed a supplementary agreement with the Board of Investments (BOI) to invest US $ 115 million to roll out its islandwide 4G network and supp

In  a recent interview done with one of the key industry opinion leaders, The Director/ Group CEO of Overseas Realty (Ceylon) PLC Mr. Pravir Samarasinghe shared his views regarding the boom in Sri Lanka’s Apartment and Construction Indus

The government yesterday said it would contribute Rs.50 to the daily wage of every tea plantation worker, for a period of one year, which can only be described as a desperate measure to end the protracted plantation sector daily wage issue.

Sri  Lanka  began advertising for hangmen this week, as the President Maithripala Sirisena pushes ahead with a hardline policy modeled on the Philippines, to combat drug trafficking. The photo shows a 

Diversified conglomerate Hayleys PLC with an asset base of Rs.233 billion, bounced back strongly during the quarter ended December 31, 2018 (3Q18), after recording losses for two consecutive quarters, the interim financial accounts released to the Co

Sri Lanka needs to develop its own narrative of China’s Belt and Road Initiative (BRI), which is neither over-shadowed by reports from Western media nor reports circulated from China, wh

The newly appointed Chairman of the Sri Lanka Tourism Promotion Bureau (SLTPB) and Sri Lanka Tourism Development Authority (SLTDA), Kishu Gomes yesterday promised to bring in a minimum of three million tourists to the island this year, capitalising o

Sri Lanka requires an immediate appointment of a tax ombudsman, asserted a leading lawyer in the country, as the need for such a post is felt now than ever before due to the changes in the income tax regime and the implementation of the Revenue Admin

Finance and Mass Media Minister Mangala Samaraweera yesterday defended his earlier decision to appoint the retired navy official Rear Admiral Dr. Shemal Fernando as 

Food importers and wholesalers shut their shops in the capital city yesterday, demanding the government to resolve trade union action by Customs officials. Picture shows a labourer sleeping on a cart in a street in Pettah without any work. However, f

Sri Lanka moves closer to secure US $ 1.1 billion investments from Singapore and Chinese investors to set up a steel plant and cement plant as the government focuses on regaining the investor confidence that derailed during the political crisis. 

Challenging operating conditions and weak consumer sentiment continued to weigh on the performance of Sri Lanka’s premier blue chip John Keells Holdings PLC during the December quarter (3Q19), despite the positive performance of some the group&

Sri Lanka must prioritize developing its human resources with continuous investments over hard infrastructure developments, to move forward with the increasing competition in the South Asian region, which is overshadowed by economies with large popul

Tourism Development, Wildlife & Christian Religious Affairs Minister John Amaratunga faced an embarrassing situation yesterday when he was compelled to postpone the appo

Sri Lanka’s Central Bank has cut foreign investor threshold in purchasing government securities (G-secs) in a bid to increase the quality of the country’s foreign reserves and significantly reduce the a

The 11th Footwear & Leather Fair opened at the BMICH yesterday. The events brings together exhibitors comprising manufacturers, suppliers and exporters who specialize in products like travel goods, footwear, leather goods, raw materials, machiner

Sri Lanka’s tea industry is eying an ambitious production target of 320 million kgs this year, despite ending the previous year on a grim note as tea output in 2018 fell to 303 million kgs from 307 million kgs in 201

The losses at the national carrier, SriLankan Airlines, widened during the nine months ended December 31, 2018, despite the gains at the top line level, due to currency depreciation and higher oil prices, the airline said yesterday in a statement.&

(Colombo) REUTERS: Sri Lanka’s rupee closed weaker yesterday due to dollar demand from importers, while stocks fell to an eight-week closing low amid concerns over debt repayment by the government. The rupee closed at 18

A new procurement and regulatory entity is to be established within next three to six months to conduct land sales, handle regulation and development activities of Colombo Port City (CPC), a top government official told Mirror Business.  

Sri Lanka is set to face higher demand for housing, health, food, education, employment, energy, water, transportation and infrastructure amid unexpected growth in population driven by a significant upturn in recent fertility rates and anticipated in

Sri Lanka’s premier and largest education exhibition and job fair “EDEX Expo” opened at the BMICH yesterday. Minister of City Planning, Water Supply and Higher Education Rauff Hakeem ceremoniously declared the event open as Chief Gu

President Maithripala Sirisena, who is currently on an official visit to Philippines, yesterday signed three loan agreements totaling US $ 455 million with the Asian Development Bank (ADB) for projects in higher education and transport as well as tec

The International Monetary Fund (IMF) has said it “remains ready to support” Sri Lanka in its efforts to boost the economy and would send a team to Colombo next month to resume discussions on the stalled loan programme.  

Sri Lanka’s Department of Wildlife Conservation (DWC) is to expedite the implementation of the strategic plan to tackle the over-visitation to Yala National Park and other national wildlife parks, while enhancing the quality of visitor experi

Sri Lanka Tourism sets an ambitious target to attract one million tourist arrivals from the country’s largest tourist source market, India this year, by more than doubling over the 2018 Indi