The Cabinet of Ministers approved a proposal to conduct a complete feasibility study to select a suitable location to build the country’s first Pumped Storage Hydropower Plant that has been identified under the Long-Term Power Generation Plan 2018-

In the backdrop of increased stock market activities, the Securities and Exchange Commission (SEC) yesterday cautioned investors and the general public not to rely on unsolicited stock tips/advice circulated through bulk SMS, websites and social medi

Cargills Ceylon PLC, which runs the country’s largest privately owned supermarket chain, almost doubled its net profit in the December quarter (3Q21) amid strong sales, as consumer demand improved.

Dynamic business leader Ishara Nanayakkara-controlled LOLC Holdings PLC yesterday became the third US$ 1 billion company on the Colombo Stock Exchange (CSE), behind John Keells Holdings PLC and Ceylon Tobacco Company PLC.

Trying to clear the air surrounding the highly contentious East Container Terminal (ECT) matter, the government yesterday said it would never float its share of the terminal on any stock exchange, which could lead to potential dilution of ownership.

The Cabinet nod has been granted to draft a new Fossil Fuel Resource Development Act replacing the Fossil Fuel Resources Act No 26 of 2003, in order to establish a new legal framework for local fossil fuel including the natural gas industry as propos

State-controlled Sri Lanka Telecom (SLT) group is preparing for pre-commercial launch of 5G services mid-year under SLT-Mobitel brand while awaiting spectrum allocation for the commercial launch next year.

While nominal rental prices are held up, the vacancy rates of Colombo’s office space segment shot up in 3Q20, as small & medium-sized enterprises (SMEs) went into downsizing space to cut costs, and due to weak leasing demand following the lockdown

With aim of attracting Rs.30 billion in investments and generating 11,500 employment opportunities, the Cabinet of Ministers has approved a proposal to set up a 100-acre industrial estate in Katunayake.

Despite the turbulences and challenges, Sri Lanka Insurance Corporation (SLIC) has closed the year 2020 in a positive note, recording phenomenal revenue growth with exceptional service innovations.

Sri Lanka welcomed the first group of tourists from Germany and Switzerland last week (January 21), flown in by national carrier SriLankan Airlines, which resumed direct flights from Frankfurt, after a lapse of more than four years.

The Colombo bourse continued its climb unfettered yesterday too, with the benchmark index reaching a new all-time high and market turnover flirting with Rs.15 billion.

In consultation with the Securities and Exchange Commission of Sri Lanka (SEC), the Colombo Stock Exchange (CSE) has issued a set of guidelines on best practices for stockbroker firms, which are required to be adopted and implemented with immediate e

State Pharmaceutical Corporation (SPC) has saved at least Rs.1.1 billion during 2020, due to the avoidance of emergency drug purchases, a common practice widely used by the state-owned manufacturer and distributor of medicinal drugs.

Adding another one to the recent measures implemented to contain the excess volatility in the foreign exchange market, the Central Bank yesterday suspended the licensed commercial banks from entering into forward rate agreements for foreign exchange

With a record-breaking week behind, investors at the Colombo Stock Exchange (CSE) are poised for another week of buoyancy beginning from today, with strong December quarter results expected to hit the market.

Ceylon Cold Stores PLC (CCS) reported robust top and bottom line performances for the three months ended December 2020 (3Q21), as the company managed to maintain its revenues intact despite the sporadic COVID-19 related lockdowns, which impacted cons

Dialog Axiata PLC, Sri Lanka’s premier connectivity provider and the first and only network to offer Voice over WiFi (VoWiFi or WiFi Calling), VoLTE (Voice over LTE) and eSIM capabilities for the newest Samsung Galaxy range, recently announced pre-

Sri Lankan-born serial entrepreneur and Silicon Valley investor Insaaf Mohideen is in Sri Lanka for a brief visit under the ‘investor bubble’ scheme, sources at the State Ministry of Money & Capital Markets and State Enterprise Reforms said.

The Central Bank last week said they have been talking with the US internet-based payment gateway provider, PayPal Holdings Inc. for the launching of their services in Sri Lanka for almost 9 years without a breakthrough.

Sri Lanka’s industrial firepower measured by the Index of Industrial Production (IPP) slipped in November 2020 despite the resilience shown by the country’s manufacturing sector in facing the COVID-19 pandemic.

Backed by the low interest rates regime and increased mobility following virus-related lockdowns, Sri Lanka’s condominium sector made a marked recovery in the third of quarter of last year (3Q20) with the sale of condominium units reaching highest

The Central Bank this week said it has received information regarding several types of financial frauds and scams being operated through social media, Internet-based applications and mobile payment applications.

The United States remains a “beacon of technology” to be emulated and China’s Huawei Technology should consider cutting products in the wake of U.S. actions against it, the Chinese firm’s founder Ren Zhengfei said in remarks made public yeste

Alphabet Inc is shutting down Loon after concluding the business, which offers balloons as an alternative to cell towers, is not commercially viable, Google’s parent company said on Thursday.

As Sri Lanka opened its borders for international travel on Thursday, the first tourism trade delegation from Germany arrived at Bandaranaike International Airport (BIA) yesterday, at 1:40 a.m., for an Ayurvedic holiday in Sri Lanka.

Airtel Lanka may seek either a merger or an acquisition with a larger counterpart, as the telco company will continue to be mired in intense competition while it will be required to spend heavily on network expansion and new generation of technologie

Expressing the unanimous and unreserved condemnation of all 21 Regional Plantation Companies (RPCs), the Planters’ Association of Ceylon (PA) issued a statement decrying the shocking violence instigated by Member of Parliament (MP) M. Rameshwaran,

The Central Bank this week said they believe deposit rates, which plunged in 2020, have now bottomed-out, in a potential assurance to those live on interest on bank deposits.

British-born financier and a member of Rothschild family, Nathaniel Rothschild said his recent visit to Sri Lanka was to explore the country’s suitability as a manufacturing location for electronics, while calling the island nation “a true gem wi