Renewable energy giant WindForce Limited (WIND) said its Initial Public Offering (IPO) worth Rs.3.2 billion, which officially opened yesterday on the Colombo Stock Exchange (CSE), was oversubscribed on the opening day.

The government plans to bring in new legislation to set up a commission to look into the underutilised assets such as state lands and delayed condominiums, to be put to productive use.

The Colombo Port City Economic Commission Bill, aimed at setting up a special economic zone in Colombo Port City built by China, is expected to be submitted to Parliament, as the Legal Draftsman has completed the drafting of the bill specifying the p

Softlogic Holdings subsidiary Odel PLC yesterday said it entered into an agreement with the Urban Development Authority (UDA) to lease,

The Bolagala Floating Agro Tourism Resort in Katana, the first of its kind in Sri Lanka, has received approval from the Sri Lanka Tourism Development Authority (SLTDA) to open its doors in June.

The sector-wise breakdown of non-performing loans (NPLs) showed that manufacturing sector had recorded the highest rate among others such as agriculture, trade, tourism, construction and consumption.

R I L Property PLC will not suspend BreadTalk operations as announced, as the company is now in negotiations with a potential investor, who intends to acquire franchise rights.

A multi-pronged approach is required to rebuild the hard-hit economy, which was already on downward path even before the pandemic struck, according to senior economist and former central banker Dr. W. A. Wijewardena.

The Central Bank of Sri Lanka (CBSL) and People’s Bank of China (PBoC) have entered into a bilateral currency swap agreement, with a view to promoting bilateral trade and direct investment for economic development of the two countries and to be use

In an about-turn, Standard Chartered Bank (StanChart) upgraded its outlook on the Sri Lankan economy, after the country received the approval from China’s Central Bank for a US $ 1.5 billion equivalent currency swap arrangement.

Plantations Minister Ramesh Pathirana has ordered to establish the Kithul Development Board, to regulate and develop kithul (fishtail palms) as a main plantation crop in Sri Lanka.

Sri Lanka’s Cabinet of Ministers has granted approval to ratify the landmark International Labour Organisation (ILO) Convention on Eliminating Violence and Harassment in the world of work and to draft sweeping new laws and regulations to prevent vi

Headline inflation, as measured by the year-on-year (YoY) change in the Natio nal Consumer Price Index (NCPI), increased to 4.2 percent in February 2021, from 3.7 percent in January 2021.

The Hotels Association of Sri Lanka (THASL) yesterday stressed that the moratorium alone is insufficient to tackle the ongoing crisis faced by the tourism sector and measures should be taken to extend an “innovative” stimulus package.

The remittance income from Sri Lankan migrant workers continued its climb in February, extending gains to its 10th consecutive month since last May.

Fits Aviation Pvt Limited (FitsAir) is gearing to commence flight operations from unpaved dirt-strips, targeting cities and locations with congested and time-consuming road networks such as Kandy and Nuwara-Eliya.

The State Oil Company of Azerbaijan Republic (SOCAR) this week said the company expects to join Sri Lanka’s upcoming LNG development programme by partnering with the Pearl Energy project.

Businesses tend to prefer consistent bad policies to inconsistent good policies, as such provides predictability when taking business decisions including expansions and new investments, a top private sector executive says.

The Colombo Stock Exchange (CSE) and Securities and Exchange Commission (SEC) are encouraging family-owned businesses to go public to make use of the concessions offered to new listings, while boosting the country’s capital market’s liquidity.

Announcing further relief to those who lost their savings to now defunct finance companies, the Central Bank last week said the maximum compensation that a depositor receives will be increased from Rs.600,000 to Rs.1.1 million.

Tesla boss Elon Musk strongly denied Saturday that his cars, which gather large amounts of data, could ever be used to spy on China despite fears raised by Beijing, the Wall Street Journal reported.

Singer Finance (Lanka) PLC last Friday disclosed its plans to raise up to Rs.2 billion via a listed debenture issue.

Grand Oriental Hotel (GOH), an icon of generations past, is opening its doors to a new era of splendour, bringing to life its rich colonial architecture.

The digital chapter of the Federation of Information Technology in Sri Lanka (FITIS) is gearing up to launch the first-ever Sri Lanka Internet Day 2021, this April.

Hosts BOI Chairman at embassy with representatives of Korean Businessmen’s Association On March 18, 2021, Ambassador of the Republic of Korea Santhush Woonjin Jeong had hosted Board of Investment of Sri Lanka (BOI) Chairman Sanjaya Mohottala, at t

China’s Geely plans to roll out electric vehicles under a new marque with different branding and sales strategies, people familiar with the matter said, as the Volvo owner looks to take on its main EV rival Tesla with higher-end vehicles.

The Roads and Highways Ministry, Rural Roads and Other Infrastructure State Ministry as well as the Road Development Authority have embarked on a project to give prominence to the preservation of nature while performing development work.

Donald Trump’s net worth dropped by about US $ 700 million to US $ 2.3 billion (£1.65 billion) during his time as president, according to the Bloomberg Billionaires Index.

In a fresh Banking Act Direction, the Central Bank yesterday informed all licensed banks and National Savings Bank (NSB) to refrain from purchasing Sri Lanka international sovereign bonds (ISBs), with effect from March 23, 2021, until April 9, 2021.

National Development Bank PLC (NDB) has turned acquisitive to accelerate growth during the five years through 2025, as the lender is lining up funds to bolster its capital base to fund its next wave of growth.