The Asian Development Bank (ADB) and the Government of Sri Lanka yesterday signed a loan agreement for US$ 110 million in additional financing to support the ongoing Health Sector Enhancement Project, which is aimed at improving the primary healthcar

Pandemic related economic stress could continue to drive down beer sales through March 2022 before staging a growth with the gradual restoration of economic normalcy, lifting of movement restrictions and the recovery of tourism trade, all of which co

The current milk powder shortage in the market will bode well on the domestic dairy producers such as Lanka Milk Foods PLC (LMF) as others have suspended imports due to the increase in controlled price by the government, according to Nation Lanka Equ

Oil prices fell sharply yesterday, extending losses from the previous session, as the United States said it was considering selling oil from its strategic reserves and as Russia said it was ready to stabilise the natural gas market. Brent crude price

Relief afforded to pandemic affected borrowers in the passenger transport sector affiliated to tourism in particular and others in general have been granted with an extension in line with the extensions granted separately for each sector effective fr

Tourist arrivals to Sri Lanka more than doubled in September from August, with over 13,000 travellers entering the country in September making it the first time since the Covid-19 outbreak for the country to welcome over 10,000 visitors in a month.

The medium term outlook for Sri Lanka is “clouded” by pre-existing macroeconomic weaknesses and scarring left by the Covid-19 pandemic, the World Bank (WB) said, although the economy is expected to expand by 3.3 percent in 2021.

Top Sri Lankan conglomerate E.B. Creasy & Co. PLC has declared a whopping 60 percent dividend payout, from the distributable profits of the company for FY2020/21.

Aitken Spence PLC was ranked amongst the top 15 in the Most Respected of the nation’s most admired corporations for 2021.

DIMO, a leading diversified conglomerate in Sri Lanka, further extends its commitment to the COVID-19 economic recovery of the nation by facilitating free technical inspections to the industrialists through DIMO TECH, the group’s general engineerin

Sanken Overseas (Private) Limited, last year’s NCE award winner for Sri Lanka’s highest net foreign exchange earner, has initiated the development of an 80 villa luxury resort to be operated under the JW Marriott brand.

The 2021 Conde Nast Traveller Readers’ Choice Awards were announced this week. Registered voters from across the globe weighed in on their favourite resorts. Resplendent Ceylon received recognition for all three resorts: Cape Weligama, Ceylon Tea T

The Cabinet of Ministers this week approved a proposal to enter into a loan agreement for a US $ 3.6 billion credit line with the Government of Oman to finance petroleum procurement for a period of one year.

The Cabinet of Ministers this week cleared the path for the state-run Ceylon Petroleum Corporation (CPC) to enter the liquefied petroleum gas (LPG) distribution operations, as the third market player.

Ever Ace, the world’s largest container ship, that docked at the Colombo International Container Terminal (CICT) of the Colombo Port, set sail to Malaysia, midnight, yesterday. The container ship, which is part of Evergreen Line, called at the Col

The Cabinet nod has been given to recognise India-based HCL Technologies’ US $ 10.5 million software and IT project, under the Strategic Development Projects Act, granting the necessary tax concession for investment.

The government has decided to allocate additional land for the commercialisation and monitoring activities of the Chinese-funded Lotus Tower project, including setting up of a modern water park.

The maximum deposit rates that can be offered by a licensed finance company for a one-year term deposit has risen by a little under one percent in the quarter beginning from October 2021, as the ceiling rates of deposits offered by the non-bank lende

The transshipment container volumes at the Port of Colombo declined for the second consecutive month in August, after almost touching the pre-pandemic levels in the first half of the year, the Sri Lanka Ports Authority (SLPA) data showed.

International Chamber of Commerce (ICC) Chairman and MasterCard Worldwide Executive Chairman Ajay Banga speaking at the White House COVID-19 Summit, convened by President Joe Biden on the margins on the UN General Assembly, explained the business cas

Asian Development Bank (ADB) Director General for South Asia Kenichi Yokoyama yesterday met with Sri Lanka President Gotabaya Rajapaksa to express ADB’s support for the country’s development and its coronavirus disease (COVID-19) vaccination driv

Under the ‘Stay Strong’ campaign, Republic of Korea Ambassador Santhush Woonjin Jeong, at a ceremony held in the Foreign Ministry on October 4, 2021, handed over a donation of US $ 500,000, which includes PCR test kits and PCR test machines to th

Sri Lanka@100, a private sector-led business development programme supported by the U.S. Agency for International Development (USAID), hosted a public webinar with guest speaker Iora Health CEO and Co-founder Rushika Fernandopulle, to inspire mid-mar

A team of senior European Union (EU) officials began an official visit to Sri Lanka on September 27, 2021, to review Sri Lanka’s progress in implementing the 27 international conventions applicable under the Generalised System of Preferences Plus (

The Chief Financial Officer (CFO) and the Group Finance Director at Brandix Lanka Limited, Hasitha Premaratne asked people and corporates to re-think before fully returning to the pre-pandemic era corporate practices.

Following is the clarification sent to us by the World Bank on our story titled ‘Large majority of WB-funded projects in e-Government sphere failed to bring desired results’ published on October 4.

Brent crude oil futures stuck near three-year highs yesterday, with U.S. benchmark crude close to 2014 peaks, after the OPEC+ supplier group decided to stick to a gradual output increase plan rather than fully opening the taps.

An engineer has filed a writ petition in the Court of Appeal challenging the legality of regulations titled Urban Development Authority Planning & Development Regulations 2021 issued by Prime Minister Mahinda Rajapaksa in his capacity as subject Mini

Sri Lanka’s condominium market which got off to a robust start in the first three months of 2021 slowed in the second quarter, though activity was higher than from a year ago levels as the pandemic induced restrictions appeared to have had a bearin

Sri Lanka’s judiciary system is going to get a digital facelift soon to enable hearing of cases remotely (via online) with whole proceedings also set to be video recorded for complete transparency of the process.