The Sri Lanka Chamber of Small and Medium Industries (SLCSMI) yesterday welcomed the initiative of President Gotabaya Rajapaksa in appointing an 18-member deregulation commission for the simplification of the existing laws and regulations in the inte

The Australian government-funded Market Development Facility (MDF) has partnered with bio-resources development company Biomass Supplies (a subsidiary of Biomass Group) to promote a sustainable agro-energy model to protect Sri Lanka’s forests, supp

Finance Minister Bruno Le Maire expressed France’s stiff opposition to a possible near-US $ 20 billion takeover of Carrefour by Canada’s Alimentation Couche-Tard yesterday, driving the French retailer’s shares down by 4.5 percent.

SriLankan Airlines has been awarded the Platinum Standard status by APEX Health Safety, powered by SimpliFlying, following a full independent audit for the airline’s efforts in ensuring the highest standards for passenger safety and well-being duri

The government has decided to introduce a new mobile phone application for tourists visiting Sri Lanka, the Sri Lanka Tourism Development Authority (SLTDA) said.

Sri Lanka’s external sector performance continued to improve in November with the trade deficit narrowing further, mainly due to the restrictions imposed on non-essential imports and the lower fuel bill, despite the second COVID-19 wave taking a to

Sri Lanka Deposit Insurance and Liquidity Support Scheme (SLDILSS) is slated to undergo certain revisions this year to expedite the payment of compensation to depositors of failed financial institutions.

Emerging market economies have seen fund inflows turning positive last November in a sign that global investors are rebalancing their fund allocations seeking higher yields and cheaper emerging market valuations, and the trend could set off a positiv

The Central Bank said it expects to purchase a sizeable amount of dollars this year to rebuild the country’s external reserves buffer after net interventions in December 2020 turned negative. After being a net purchaser of dollars from the foreign

The government is gearing to setup a 500-acre industrial zone for rubber-based products in Horana with an aim to double the country’s rubber and rubber-based exports earnings.

Deposit rates recorded their steepest decline in 2020 as the unprecedented monetary accommodation takes root more effectively and faster than any time in the history while the modest inflation in the country keeps real rates still at positive levels,

World renowned financier and a member of Rothschild family, Nathaniel Rothschild who is in Sri Lanka for a brief business tour, paid a visit to Port City Colombo yesterday morning.

Sri Lanka is seeking to scale up its boat and ship building industry, a heavy duty industry which requires a lot of engineering know-how, expertise and technology, as the country is talking with several leading foreign companies to forge partnerships

The Colombo Stock Exchange (CSE) yesterday recorded two significant milestones with the market capitalisation reaching an all-time high value of Rs.3.25 trillion and recording 52,559 trades, which is the highest number of trades recorded within a mar

With an estimated shortage of 250 million coconuts this year, the Cabinet of Ministers has approved a proposal to import coconut kernel for the local coconut kernel-related industries, subject to conditions.

The Cabinet of Ministers this week granted approval to implement the provisions of the proposed Standard Operating Procedure (SOP) for manufacturing, assembling and manufacturing of spare parts of vehicles in Sri Lanka, which was lobbied by the count

The government said it doesn’t rule out the possibility of selling a sovereign bond this year as part of its foreign borrowings quota for 2021, amid the Treasury seeking to rollover part of its dollar-denominated debt.

The European Union (EU) yesterday announced the signing of three grants worth EUR 35.75 million (Rs.8.26 billion), which will support Sri Lanka’s justice sector, help improve food safety and strengthen efforts to mitigate climate change.

The Hong Kong and Shanghai Banking Corporation (HSBC) yesterday expressed confidence in 2021 delivering strong and broad-based recovery for the South Asian region, albeit unlike in the previous years, the awaited bounce back would be led by services,

The Monetary Board could hold key policy rates steady at their current levels when they meet for the first time in 2021 next Monday to determine if the current stimulus is sufficient to lubricate the wheels of the economy, which is largely expected t

The Monetary Board of the Central Bank has decided to ask Director, Supervision of Non-Bank Financial Institutions to make an application to a competent court for the winding up of ETI Finance Limited (ETIF), in terms of Section 31(5)(b) of the Finan

The Cabinet of Ministers this week arrived at a final decision to re-open the country’s international airports for commercial purposes on January 21, with necessary safeguards in place to prevent COVID-19 from spreading in the country.

Airports Council International (ACI) on Monday recognised Bandaranaike International Airport’s (BIA) commitment to prioritising health and safety measures in accordance with International Civil Aviation Organization (ICAO) Council Aviation Recovery

Sri Lanka Tea Board (SLTB) has been granted Cabinet approval to sign a memorandum of understanding (MoU) with Fujian Star China International Trade Company Ltd, a subsidiary of Bennie Tea Industry Company Limited, for the marketing of pure Ceylon tea

With a view to fast-track the implementation of development projects, the government has decided to amend the Land Acquisition Act No. 9 of 1950 in order to simplify the land acquisition procedure and make compensation payments under a uniform system

LOLC Group yesterday said it is creating a platform to enable potential investors to acquire minority stakes in the finance companies it owns as a part of the group’s global strategy to attract large foreign investors to those companies.

LOLC Group subsidiary Browns Investments PLC (BIL) ended yesterday’s trading as Colombo Stock Exchange’s (CSE) third most valued company in terms of market capitalization.

The International Finance Corporation (IFC) of the World Bank Group has approved US$ 7 million loan to Sri Lanka’s Sunshine Holdings PLC to support the acquisition of confectionary manufacturing company Daintee and for the expansion of its roof top

The long-standing Japanese investors of Asia Capital PLC, Y. Watanabe and E. Watanabe, yesterday exited the company by completely divesting their shareholdings to Fast Gain International Limited, a company connected to Asia Capital majority sharehold

The COVID-related lockdowns, which went up around October in the Western hemisphere, blunted the momentum for demand for Sri Lankan-made apparel in its key customers in the USA and European Union.