The government has decided to move ahead and establish the Kitul Development Board, while nominating kitul (fishtail palms) as a main plantation crop.

The Cabinet of Ministers this week gave the nod to kick off the construction of the proposed International Gem and Jewellery Trade Centre in Ratnapura.

Suresh de Mel, a well-known entrepreneur, assumed duties as the new Chairman of the Sri Lanka Export Development Board (EDB) yesterday. He succeeds the outgoing EDB Chairman Prabhash Subasinghe, who ended his one-year tenure early this month.

The total outstanding credit card balance fell yet again for the third month in a row in October amid lack of spending opportunities with coronavirus restrictions.

Sri Lanka scored 42.1 points in the Global Knowledge Index (GKI) 2020 recording a marginal improvement in the score, though the country rank remains unchanged.

Extending higher education facilities designed to enhance employability and opportunity for Sri Lankan youth, philanthropists DhammikaPerera and Priscilla Perera launched DP Digital University, a free online education portal that offers an extensive

The prime lending rate touched another fresh low last week, signaling that downward trend of lending rates is not yet over, while underscoring Monetary Board’s claim about more wiggle room for rates to respond to rate cuts.

The government raised just shy of Rs.85 billion in a bond issuance on Friday in what could be the final for the year as the December 11 was the last one scheduled in the calendar for 2020 to raise long-term funds for the government.

Piramal Glass Ceylon PLC (GLAS), Sri Lanka’s only glass bottle maker, last Friday said its controlling shareholder Piramal Glass Private Limited has entered into a share sale and purchase agreement with Pristine Glass Private Limited, a company inc

Businesses—big and small—are pleading with the authorities not to create a fear psychosis over people going shopping for the festive season as they follow the strict health guidelines when welcoming their clients.

Sri Lanka received a strong call to not continue to opt for old models of destination marketing in reviving tourism and was urged to be realistic about the recovery timeframe as the global scenario is not as optimistic as currently presented.

SriLankan Airlines is set to increase the frequency of passenger flights from Colombo to Singapore from once a week to thrice a week, commencing December 18, 2020.

The government has expressed disappointment over a downgrade of the country’s sovereign credit to CCC+ from B- by S&P Global, saying the rating agency has ignored a medium term budget framework.

Sri Lanka’s listed company earnings surged to its best in two years during the July-September quarter, as lifting of virus related lockdowns, fiscal and monetary stimulus, rebound in exports and pent up demand, boosted their top lines, while they t

S&P Global Ratings yesterday lowered its long-term foreign and local currency sovereign credit ratings on Sri Lanka to ‘CCC+’, from ‘B-’, in tandem with the other two rating agencies, Moody’s and Fitch, which have already downgraded Sri Lan

The Agriculture Ministry has decided to provide Rs.700 million for 2000 families, to cultivate fruits for the export market, with the aim of uplifting the economy of the poor farming community.

SriLankan Airlines was awarded ‘Four Star Rating for Major Official Airline’ for 2021 by the Airline Passenger Experience Association (APEX), at the Future Travel Experience (FTE) Virtual Expo Award ceremony that was held on December 9, 2020.

Rakuten Viber, one of the world’s leading apps for free and easy communication, celebrates a decade of enriching Sri Lankan lives with its unique messaging platform, one that values users’ privacy and mobile technology.

The Free Trade Zone Manufacturers Association (FTZMA), on behalf of its members, congratulated the newly-appointed Export Development Board (EDB) Chairman Suresh de Mel, who is expected to assume duties on Monday.

The Asian Development Bank (ADB) has launched a US $ 9 billion vaccine initiative—the Asia Pacific Vaccine Access Facility (APVAX)—offering rapid and equitable support to its developing members, as they procure and deliver effective and safe coro

The United States has launched a new US $ 19.5 million (Rs.3.6 billion) initiative to help small businesses and economically empower Sri Lankan women.

Sri Lankan companies have shown eagerness to borrow from banks for their operational functions, as the economy recovers from the coronavirus-induced shocks and the recently presented budget-signalled policy stability.

With the spread of COVID-19 in the country, the Director General of Health Services has published a series of guidelines to be followed by the public during the Christmas/festive season.

Although Sri Lanka receives continuous support from both domestic and international agencies to uplift its rural economy, the products and services of the micro, small and medium-sized enterprises (MSMEs) have failed to reach the international market

The Central Bank saw its primary auction held this Wednesday to raise Rs.40 billion via treasury bills, receiving bids worth of Rs.54.04 billion. But the bank accepted little less than half of the bids.

Local cement production continued its climb for the fourth consecutive month in September, indicating that the construction sector is forging ahead, as the virus-related shocks in the economy dissipate.

While the Sri Lankan equities are on a bull run buoyed by positive local investor sentiment on policy and political stability and certainty on tax policy, foreign funds, which have invested in Sri Lankan stocks, appear to have failed to make the most

LOLC Holdings PLC yesterday revealed the plans to raise up to Rs.6.5 billion, by way of a listed debt issue.

The International Finance Corporation (IFC) of the World Bank Group has proposed a US $ 50 million financing facility to Sri Lanka’s MAS Holdings, to sustain its operations while preserving its workforce in Sri Lanka.

The two Non-Executive Directors, Lalith Withana and Hasitha Premaratne, have resigned from the director board of Bank of Ceylon (BOC), with effect from December 8, 2020.