World oil prices rebounded yesterday, reversing earlier losses after a warning that the Suez Canal container ship blockage remains a challenging situation.

The regulatory framework to develop Sri Lanka’s boatbuilding industry was officially handed over to the implementing agencies under the patronage of Trade Minister Dr. Bandula Gunawardena yesterday, at the Trade Ministry.

The World Health Organisation (WHO) warned yesterday against a widening gap between the number of coronavirus vaccines in wealthy countries and those distributed to poorer nations through the global Covax initiative.

Sri Lankan shares ended higher yesterday, helped by gains in industrial and financial stocks.

As the Central Bank brushed aside the recent uptick seen in the yields of the government securities as an indicator of the overall lending rates in the market, ICRA Lanka Limited said the authorities would however have to rein in the bond yields to e

The broader Information Technology services exports sector emerged better than ever in 2020 as it recorded its highest-ever earnings reflecting that the sector stood remarkably shock-proof when almost everything else had to take a break due to COVID-

A meeting of the newly set up Enterprise Development Advisory Council (EDAC) was held on March 26 at the Shangri-La Hotel under the patronage of State Minister for Finance and Capital Markets and Public Enterprise Reforms, Ajith Nivard Cabraal.

WindForce Limited, the largest Initial Public Offering (IPO) to hit the Colombo Stock Exchange since 2011, which closed on the opening day, was oversubscribed at least by seven to eight times, according to stock market sources.

HCL Technologies (HCL), a US$ 10 billion global technology company, which inaugurated its Global Development Center in Sri Lanka last September, had announced its aim to create 3,000 jobs in three to five years.

The government last week lifted the lid on a yearlong import restriction on sarees as the New Year season approaches and the economy is getting a reboot from resumption of gatherings, which involve in-person contact such as weddings, parties and fami

Vietnam received US$ 4.1 billion in foreign direct investment (FDI) in the first three months of 2021, up 6.5 percent from a year earlier, government data showed.

Sri Lanka has upgraded its targeted earnings from worker remittances for this year, as the numbers continue to appear better than last year’s levels making possible for the authorities to comfortably reach what once appeared an elusive goal.

Oil prices reversed a sharp sell-off a day earlier to rise about 2 percent yesterday on mounting fears that it could take weeks to dislodge a giant container ship blocking the Suez Canal, which would squeeze supplies of crude and refined products.

Sri Lanka’s tile and the broader ceramic industry is bracing for a growth of 12.5 percent in 2021, as the economy set off to a robust start this year and the consensus is building up for the country’s economic output to grow around 5 percent or m

Fitch Ratings Lanka has assigned Sampath Bank PLC’s (AA-(lka)/Stable) proposed Basel III-compliant subordinated unsecured debentures a National Long-Term Rating of ‘A(lka)’.

Facebook-owned Instagram has seen a surge in frauds on its platform that were up by 50 percent since the pandemic began and scams related to romance, phishing and influencer sponsors top the chart, a new report by Sophos said recently.

The stranded Ever Given mega-container ship in the Suez Canal is holding up an estimated US $ 9.6 billion (£7 billion) of goods each day, according to shipping data.

The Sri Lanka Export Development Board (EDB) in association with the Sri Lanka High Commission in India organised a webinar to promote matchmaking and market-entry opportunities between the Indian and Sri Lankan electronic and electrical manufactures

As cities across Asia continue to grapple with food-related issues on a daily basis, the World Bank (WB) has called on them to “get smart to get rich!”.

In back-to-back proposals to set up pharmaceutical manufacturing hubs in different parts of the country since the virus outbreak exposed Sri Lanka’s over reliance on pharmaceutical imports, the government this week gave clearance to set up another

Stuart Gibson, Co-Founder & Co-CEO of Hong Kong listed ESR Cayman Ltd, one of APAC’s largest logistics property platforms, visited Sri Lanka recently.

As commodities prices gain with the recovery in global economy beset by the pandemic, price of sugar, which is a major imported consumer commodity in Sri Lanka, is expected to rise in tandem with other agricultural commodities.

Asian markets rose yesterday but optimism over the pace of economic recovery continued to be offset by worries about rising infections across Europe and the continent’s vaccine struggles, with inflation concerns casting an ever-present shadow.

Approval was granted at the Cabinet meeting held on January 4, 2021 to establish the Colombo Port City Special Economic Zone (SEZ), which will be an international business and services hub with specialized infrastructure facilities.

In a fresh attempt to expedite repatriation of Sri Lankan migrant workers awaiting to return to the country, Sri Lanka Bureau of Foreign Employment (SLBFE) has selected 10 private sector hotels and guest houses as quarantine centres to provide quaran

The Cabinet of Ministers this week gave the approval for a proposal to lift the suspension on ceramic imports, which remained banned for nearly a year, after the industry stakeholders met with the Treasury Secretary earlier this month, seeking redres

To shore up the country’s image as a preferred investment destination, the Sri Lankan government plans to obtain the assistance of an international consulting firm for the promotion of the country’s improving investment and business climate to pr

National Authority of Tobacco and Alcohol (NATA) Chairman Dr. Samadhi Rajapaksa said his institution has sought clarification from the Attorney General’s Department with regards to the ‘Ayurvedic Cinnamon Cigarette’ that is being manufactured a

Tugboats and diggers are working to refloat a giant container ship that has blocked Egypt’s Suez Canal, one of the world’s busiest trade routes. The owners of the 400m-long (1312ft) vessel say it ran aground sideways after being hit by strong win

Labour Minister Nimal Siripala de Silva yesterday presented the National Minimum Wages Amendment Bill to Parliament, under which the government seeks to increase the monthly and daily minimum wages of workers.