In an interesting turn of events, the Central Bank (CB) and Securities and Exchange Commission (SEC) have been placed under Prime Minister Ranil Wickramasinghe, who is also the Policy Planning, Economic Affairs, Child, Youth and Cultural Affairs Mini

The new government plans to resume discussions with the International Monetary Fund (IMF) on reducing the debt burden that bloated under the previous regime, Bloomberg said quoting Sri Lanka’s new Finance Minister Ravi Karunanayake.According to

The Planters’ Association of Ceylon (PA) said t hat they will be lobbying for an alternative payment strategy such as a contract or an ownershipbased structure for estate workers, in face of unsustainable wage increases, during a round table di

The Central Bank last week informed all commercial banks in the country to cap the single senior citizen’s deposit value to Rs.1 million from the previously announced maximum of Rs.2.5 million, a Central Bank source told Mirror Business.

Tourism i ndustry experts have responded positively to the new regime’s decision to create a dedicated ministry for tourism under Minister Navin Dissanayake, and are hoping it would swiftly address issues and support the third highest exchange

Career civil servant and former Deputy Secretary to the Treasury Dr. R.H.S. Samaratunga yesterday assumed duties as the Finance Ministry Secretary.Samaratunga replaces longserving Dr. P.B. Jayasundera, the influential Finance Ministry Secretary

The Sri Lankan banking sector is to see a reversal of most of the negatives experienced during last three years, and will usher in an era of prosperity with the pick-up in private sector credit growth, improving asset quality and rising returns.

yesterday, while exporters stayed away awaiting clear policy direction after the election, dealers said.Four-day forwards, which were actively traded, ended at 132.75/85 per dollar compared with Thursday’s close of at 132.80/90, dealers said.&l

Asian equity markets mostly rallied yesterday, while oil prices enjoyed a rare fillip following a surge in New York and Europe on strong US data and expectations for fresh eurozone stimulus measures.Confidence was also given a much needed boost by mi

Sri Lanka attracted 1,527,153 tourists for the past calendar year recording a 19.8 percent growth year-on-year (yoy), with India, UK and China leading the pack, according to statistics released by Sri Lanka Tourism Development Authority yesterday.Whi

The combined foreign borrowings by the Sri Lankan banks and the corporate sector is estimated to have topped US $ 1.825 billion (Rs.239 billion) in 2014, according to the data released by the Central Bank.

Licensed finance companies in Sri Lanka may pay an additional interest rate of two percent, above the maximum interest rates stipulated by the Central Bank for savings deposits of persons who are over 55 years of age from January 1, 2015.

The Chinese-funded Magam Ruhunupura Mahinda Rajapaksa Port (MRMRP) in Hambantota has recorded revenue of Rs.5.39 billion for the year 2014, compared to Rs.585.2 million in 2013, statistics released by Sri Lanka Ports Authority showed (SLPA).

Private businesses will be able to operate without any political influence under a new government formed by t he Common Opposition, according to Common Opposition Presidential Candidate Maithreepala Sirisena and Opposition Leader Ranil Wickremasin

The Colombo Stock Exchange (CSE) listed entities upped their total earnings for the quarter ended September 30, 2014 by as much as 51.3 percent to Rs.51.1 billion from the same quarter in 2013, according to a 3Q earnings update released by an inde

Sri Lanka’s small investors will soon be able to invest in large scale real-estate such as office space, shopping malls and apartment complexes through the stock exchange, as the capital market regulator, is currently working with the Colomb

Sri Lanka’s national carrier and oneworld member, SriLankan Airlines, continuing its extensive wide-body re-fleeting programme, took delivery of its second Airbus 330-300, yesterday (December 19th).

Political continuity, good governance, stability and end of corruption were the key messages conveyed by President Mahinda Rajapaksa when top businessmen rallied towards his cause yesterday at a business forum titled ‘Momentum’ - Asia&

Hatton National Bank PLC (HNB) has entered into an agreement with Korea’s Export-Import Bank (KEXIM) to establish a revolving credit line of US $50 million to finance trade between Sri Lanka and Korea, becoming the first bank in Sri Lanka to

Sri Lanka’s Central Bank yesterday left its key policy rates unchanged for the eleventh consecutive month in December on account of strong economic growth, pick up in credit growth and the benign inflation, but did not rule out the possibili

Malaysia’s Maju group signed an agreement to transfer technology, experience and expertise related t o public transport infrastructure probono to the Sri Lankan Transport Ministry to create an integrated transportation hub in Colombo.

The ‘New City Apartments’ residential project by Quest Ventures was launched in Hambantota yesterday, by former Malaysian Prime Minister Dr. Mahathir Mohamad.

The first Vietnamese trade delegation to the country is currently holding talks with its Sri Lankan counterparts at the Ceylon Chamber of Commerce to further strengthen bilateral trade and investment between the two countries.“The bilateral

Chevron Lubricants Lanka PLC, a unit of US-based multinational inaugurated its new US $ 15 million state-of-the-art blending plant and warehouse complex at the Lindel Industrial Estate in Sapugaskanda, yesterday.

Tourist arrivals to Sri Lanka during the month of November rose 9.4 percent year-on-year (YoY) to 119,727 visitors while total arrivals for the first 11 months of the year stood at 1.34 million, up 20.3 percent YoY, the official tourism data showe

Colombo Stock Exchange (CSE) yesterday launched its Rs.150 million state-ofthe-art, new generation Central Depository System (CDS) supplied and maintained by Millenium IT, with an upgrade to the Automated Trading System (ATS).“With t he laun

Stepping up its trade cooperation with Sri Lanka to new levels, Vietnam had said that it was vying for a groundbreaking free trade agreement (FTA) with Sri Lanka, a media statement by Sri Lanka’s Industry and Commerce Ministry said.

John Keells Holdings PLC (JKH) will be going for a 7-year syndicated loan to the tune US$445 million, the largest ever in the country, to partly finance its US$ 820 million Waterfront Project, according to foreign media reports.“Standard Cha

The country will not get any trade benefits from the China-Sri Lanka Free Trade Agreement (FTA) if the local industries continue their current modus operandi, was the consensus reached at a recently held forum titled “Doing Business with Chi

Central Bank Governor Ajith Nivard Cabraal yesterday spelled out an eight-point agenda for the Lankan banking sector to get themselves aligned with the government’s ‘Vision 2020’.The government hopes to achieve the US $ 150 billi