The stubbornly high rice prices notwithstanding maximum retail prices set by the government and the record paddy harvest reflect the higher market power exerted by a few rice millers, said the Central Bank.

Global business consulting and IT outsourcing company, Virtusa Corporation, which was founded in Sri Lanka, will see its chief Kris Canekeratne pass on the leadership baton, ending a 25-year run with the company.

Sanasa Development Bank PLC (SDB bank) nearly tripled its profits in the three months ended in March 2021 (1Q21) on robust growth in loans,

The World Bank has launched public consultations to update its Systematic Country Diagnostic (SCD) in Sri Lanka.

Sri Lanka’s credit card spend continued to advance through March, according to data released by the Central Bank.

The success of the highly debated Colombo Port City is all about implementation, for which relevant agencies must step up their efforts to ensure the development project does not lose investors to regional competition, a top minister said.

Sri Lanka’s foreign currency buffer rose in April after the country took receipt of the second tranche of the China Development Bank (CDB) loan soon after the New Year holidays, propping up its foreign reserves.

The Free Trade Zone Manufacturers’ Association (FTZMA) yesterday alleged that the Board of Investment (BOI) has turned a deaf ear to its repeated complaints regarding the discharge of wastewater at the Horana export processing zone (EPZ) and the co

The Asian Development Bank (ADB) adopted this week a resolution to allocate US $ 1.13 billion in net allocable income from 2020 ordinary capital resources, making it the highest ever in ADB’s history.

Huge COVID-19 outbreaks in India, Brazil and Turkey have put developing economies at the epicentre of the pandemic but their reluctance to fully lock down combined with hopes of vaccine progress globally appear to be desensitising markets.

The government has decided to waive off landing and parking fees for international flights to Mattala International Airport for two years, Tourism Minister Prasanna Ranatunga said.

The staff of aviation and airports, being among the most vulnerable in the current pandemic, will be given the second dose of the COVID-19 vaccine from next Monday onwards, said Aviation and Investment Zone Development State Minister D.V. Chanaka.

The Laugfs Lubricants state-of-the-art laboratory located in the Malwatta BOI Zone has recently been accredited with the ISO/IEC 17025:2017 certification, a recognition of compliance with international standards for laboratory testing, from the Sri L

Holidaymakers in England are to find out which “green list” countries they can visit without quarantining on their return later this afternoon.

A new initiative to connect innovation and start-up ecosystems has partnered with over 20 incubators and accelerators in Sri Lanka and Europe, the EU said.

The Asian Development Bank (ADB) expressed strong confidence this week in the Asia Pacific region emerging from the pandemic stronger than before provided that required emphasis is given to five key areas.

The Colombo Stock Exchange (CSE) has performed exceptionally well in the past 12 months with the All Share Price Index (ASPI) appreciating more than 55 percent and the S&P SL 20 Index appreciating more than 44 percent. In 2021,

The Solar Industries Association of Sri Lanka (SIASL) is charging that the Ceylon Electricity Board (CEB) is attempting to cut solar power generation of new rooftop solar power projects on commercial establishments by as much as 50 percent while the

Sri Lankan shares closed higher yesterday, helped by gains in financial and consumer staples stocks. The CSE All-Share Index climbed 0.59 percent to end at 7,188.09, its second straight day of gains.

Sri Lanka’s ranking in the Economist Intelligence Unit’s (EIU) latest Inclusive Internet Index has fallen to new all- time-low driven by continuous deteriorations in key indicators such as ‘support for digital literacy’ and steep decline in t

Malaysia and Indonesia, perturbed by the government’s decision to slap a ban on palm oil imports, have asked for the removal of it, Mirror Business learns.

As the historically low interest rates upended the asset allocation decisions of people and firms alike, the mutual fund industry stood to benefit immensely out of that phenomenon, as its assets under management (AUMs) soared to over Rs.200 billion b

Sri Lankan shares closed higher yesterday, helped by gains in financial and consumer staples.

The total market turnover of the Colombo Stock Exchange (CSE) demonstrated a positive growth of 29.43 percent in the month of April compared to the previous month.

Sri Lanka managed to maintain the momentum in the number of tourist arrivals with 4,168 international travellers visiting the country in April.

PGP Glass, a unit of US-based private equity fund Blackstone, has increased its stake in Piramal Glass Ceylon PLC (PGC) to at least 78.65 percent,

LB Finance PLC (LBF) has succeeded in raising US $ 15 million on a four-year tenure from FMO, the Dutch Entrepreneurial Development Bank.

The All Ceylon Metal Foundry Industrialist Association (SLMFIA) in a media release yesterday hailed the banning of export of scrap metal and thanked Industries Minister Wimal Weerawansa for the decision.

MAS Holdings yesterday announced, that in line with its long-term strategic objectives, it has concluded the sale of its subsidiary attune Lanka (Private) Limited to Rizing LLC, a privately held, US-based boutique firm.

The Cabinet of Ministers granted approval to setup container-based cross-fit gyms across the country at an estimated cost of Rs.625 million in a bid to inculcate an active lifestyle among the youth while providing some catalyst for progress in sports