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.

Money and Capital Markets and State Enterprise Reforms State Minister Ajith Nivard Cabraal and the members of the Indian CEO Forum of Sri Lanka held a cordial discussion at the Finance Ministry, this week.

Launching a census on job losses in the private sector, due to the impacts of the COVID-19 pandemic, Labour Minister Nimal Sirpala de Silva sought public support to collect information on the individuals who lost their employments.

The rubber plantations have been advised to be vigilant and be on the active lookout for any signs of the leaf disease Pestalotiopsis, a threat that could impact the industry output.

Sri Lanka’s food prices are on the rise albeit the overall inflation measured by the price indices show benign levels. The government for months has been trying with various tools to bring food prices under control but without any success.

Sri Lankan shares closed lower yesterday for a fourth straight session, dragged down by losses in industrials, consumer staples and financial stocks. The CSE All-Share Index closed 1.62 percent lower at 6,930.76.

Sri Lanka’s leader in plastic bottle recycling, Eco Spindles (Pvt.) Ltd, a fully-owned subsidiary of BPPL Holdings PLC, launched its highly anticipated ‘Waste 2 Value’ app, at a special launch event held at Hilton Colombo Residences.