The private sector stakeholders yesterday congratulated Harin Fernando on his appointment as the new Tourism and Lands Minister.

Harin Fernando yesterday assumed duties as the Tourism Minister. Fernando told the media at his new office that he accepted a ministerial portfolio for the sake of the nation. He added that one has to forget his political party and think of the natio

The Export Development Board (EDB), the apex body for promoting and developing the local export sector, came under spotlight at World Trade Promotions Awards 2022 (WTPO), as it bagged the runner-up title for inclusive and sustainable trade.

The capital market operator, the Colombo Stock Exchange (CSE), announced the appointment of Director Dilshan Wirasekara as its new Chairman, with effect from June 24, 2022.

While the foreign exchange crisis becomes severe in Sri Lanka, the island nation becomes the first country in the Asia Pacific region to default on foreign debt this century.

The Central Bank left its key policy rates unchanged yesterday while sending a clear signal to the markets that yields are peaked, and indicated that it would intervene going forward to stabilise the government securities yields at lower levels.

Bairaha Farms, a leading chicken processor in the country, announced yesterday the appointment of Reyaz Mihular as their new Chairman with effect from 19 May 2022.

Teejay Lanka PLC has reported a revenue milestone of Rs.50 billion at group level for FY22 achieving its first annual sales of a quarter worth a billion in US dollar terms on the exchange rates that prevailed during the year.

Sri Lanka’s confectionary industry has suspended the production of several of its most popular product ranges to prioritise the manufacturing of ready-to-eat items, which is becoming a popular option as country continues to face severe shortage in

The mega MICE event Sri Lanka was waiting to welcome to boost tourism, has been postponed further as the ongoing economic crisis continues to worsen.

Amid rising raw material prices and the steep devaluation of the rupee, the estimated cost of WindForce PLC’s 15MW wind power project has more than doubled to a staggering Rs.6.65 billion, forcing the renewable energy developer to draw funds alloca

Lion Brewery (Ceylon) PLC reported some solid top and bottom line performance in the three months to March as the brewer navigated one of the toughest macro-economic conditions identified with escalating costs, foreign exchange shortages and shortage

Sri Lankans, whose real incomes are getting hammered on a daily basis from soaring inflation, have turned to their credit cards, as there was a significant jump in the outstanding balance of credit cards in March from a month ago, when the financial

Sri Lanka’s red-hot inflation is forecasted to spiral further upwards in the next weeks and months, as the soaring global commodities prices collided with the massive weakness in the rupee at home, which is currently on a free fall, sending the pri

Talks about a possible privatisation of Sri Lanka’s flagship carrier – and the proceeds that will flow to the cash-strapped government from selling it – are again making the rounds.

The United Nations called on for an improved focus on prioritising women when rolling out relief strategies in Sri Lanka to overcome the ongoing economic crisis.

investment bank JPMorgan backed Sri Lanka’s crisis-hit government bonds yesterday, saying recent political changes in the country should gradually improve its strains and help its talks with the International Monetary Fund (IMF).

Key climate change indicators – greenhouse gas concentrations, sea level rise, ocean heat and ocean acidification – set new records in 2021,

In an effort to explore the avenues to ease the ongoing pressures faced by the business community, the Ceylon Chamber of Commerce (CCC) held discussions with several key political parties in the last four days.

A high-level delegation representing the Palm Oil Industry Association of Sri Lanka (POIASL), recently met with India’s High Commissioner to Sri Lanka Gopal Baglay.

CEAT Kelani Holdings has begun the rollout of two new retail concepts in Sri Lanka for the CEAT brand.

CIPM Sri Lanka has organized its 6th International Research Symposium on the 25th and 26th of May on the theme ‘Globalization of HRM Practices for Business Resilience’.

The local tourism industry has received a dangerous signal with TUI, one of the world’s largest tour companies, halting services to Sri Lanka, sector stakeholders said.

Dialog Axiata PLC swung to a massive loss of Rs.15.8 billion in the three months to March 2022 after the company booked foreign exchange losses to the tune of Rs.20.17 billion, arising out of its foreign currency denominated borrowings as the rupee f

Along with a number of other lenders, Pan Asia Banking Corporation PLC also saw its profits plunging after it charged a massive impairment provision against possible loan losses and other financial assets held in government securities on default fear

DFCC Bank PLC saw its profits for the quarter ended March 2022 (1Q22) cratered as it made thumping provisions against possible bad loans and other assets expecting tougher financial and economic conditions for its borrowers in the ensuing period. But

Both manufacturing and services activities slowed down significantly in April amid fewer working days, prolonged power outages, and difficulties in sourcing inputs including fuel and cooking gas for the production process.

The turnover at Colombo bourse yesterday hit a nine-week-high indicating a marked improvement in investor confidence following the two parliamentary votes which showed the country is moving towards political stability.

CFA Society Sri Lanka will lead a virtual discussion under the theme ‘Lessons Learned in Sovereign Debt Restructuring In Cyprus During 2012-13’ today, at 6:00 p.m. onwards, Sri Lanka time.

The hydropower companies in Sri Lanka had the opportunity to interact with Nepal’s Ministry of Energy, Water Resources and Irrigation (MOEWRI) and Nepal Electricity Authority (NEA) on the investment opportunities in Nepal for hydropower development