The Cabinet of Ministers has given its nod to State-run Litro Gas Lanka Limited to purchase US$ 3.76 million worth of new empty metal cylinder containers for liquid petroleum gas (LPG) from two Thailand-based companies for the year 2020.

Baring Private Equity Asia (BPEA), one of the largest private alternative investment firms in Asia, and Virtusa Corporation, which employs over 3, 000 software engineers in Sri Lanka, yesterday announced a definitive merger agreement under which fund

Amidst ongoing negotiations between key Japanese and Malaysian investors of Asia Capital PLC (ACAP), the company has recently stepped into appoint a legal and financial consultant to restore confidence among the investors to undergo a restructuring p

Scotland yesterday launched a smartphone app for tracking coronavirus cases using technology developed by Apple and Google, while neighbouring England is still struggling to roll out its own troubled version.

Baring Private Equity Asia (BPEA), one of the largest private alternative investment firms in Asia, and Virtusa Corporation, which employs over 3, 000 software engineers in Sri Lanka, yesterday announced a definitive merger agreement under which fund

The government has decided to make it mandatory for government and semi government institutions to allocate 25 percent of their advertising budgets to State-run media institutions so that that government doesn’t have to allocate moneys from the nat

Cabinet of Ministers has given its nod to State-run Litro Gas Lanka Limited to purchase US $ 3.76 million worth of new empty metal cylinder containers for liquid petroleum gas (LPG) from two companies for the year 2020.

Developing small and medium enterprises (SMEs) has always been a priority for the government and there is a renewed push to catalyse SMEs to aid post-COVID-19 recovery. From directed credit to technical assistance programmes, successive governments a

The COVID-19 pandemic emerged as a public health crisis and morphed into a global economic crisis, with severe impacts on commercial activity, employment and trade. The International Labour Organisation (ILO) describes COVID-19 as the “worst global

Sri Lanka’s government renewed calls for suspension of debt service payments from multilateral lending agencies until at least 2021, as such could lift some burden off from its budget and ease pressure on the balance of payment to better respond to

Prime Minister Mahinda Rajapaksa, who is also the Finance Minister, has told Sri Lanka’s bank chiefs to follow a lenient policy when giving out loans.

Indocean Developers has informed the buyers of Altair apartments that a recent Supreme Court decision, relating to a management rights dispute involving two groups of shareholders, was only a denial of a plea by one party to the dispute to dismiss a

Lebanon’s President Michel Aoun has come under fire after it emerged that tea donated by Sri Lanka for victims of the Beirut blast was distributed instead to families of his presidential guards.

American multinational technology company IBM this week announced its ‘hybrid cloud’-driven strategy for Sri Lanka—an artificial intelligence (AI) solution that serves as a platform for businesses to reset their operations, following the impact

Sri Lanka’s rubber sector requires more investments and collaboration among industry players to capitalise on the high demand in the world market for the country’s high-quality natural rubber, a leading rubber product manufacturer in the country

Sierra Cables PLC, with strong credentials in the manufacturing and supply of wire and cable in Sri Lanka and overseas, recently recorded the highest ever group turnover, registering a strong post-COVID-19 growth streak that speaks well for the count

As the changing consumer habits in the backdrop of the global pandemic could lead to an increase in the number of ‘false positives’ in the area of money laundering, multinational professional service network Deloitte advised the local financial s

As the coronavirus pandemic has upended how people work to a greater extent among other things, RIL Property PLC, a leading ‘Grade A’ office space provider in the country, has set its eyes on venturing into co-working space business.

Prime Minister Mahinda Rajapaksa, who is also the Finance Minister, has told Sri Lanka’s bank chiefs to follow a lenient policy when giving out loans.

Indocean Developers has informed buyers of Altair apartments that a recent Supreme Court decision relating to a management rights dispute involving two groups of shareholders was only a denial of a plea by one party to the dispute to dismiss a case f

Sri Lanka Telecom (SLT) and Mobitel have connected Lankagama, a village bordering the Sinharaja Forest Reserve, with high-speed 4G/LTE broadband and voices services.

The massive relief afforded to a large number of its borrowers affected by the coronavirus-induced economic hardships and the provisions made for possible loan defaults had a notable bearing on the financial performance of People’s Bank during the

The licensed commercial banks can now invite multilateral financial organisations to purchase up to 20 percent of shares, as the Monetary Board has decided to relax certain rules pertaining to the maximum share ownership—a move that could enhance t

Colombo-based Fly Lankan Asia (Pvt.) Ltd has requested permission from authorities to operate domestic and international flights carrying passengers as well as cargo and mail services.

The decline in private sector credit narrowed in July, signalling that the new loans by the banking sector to private individuals and businesses were just about to surpass the loan settlements by the borrowers, which could set stage for a net growth

Money and Capital Market and State Enterprise Reforms State Minister Ajith Nivard Cabraal told Parliament yesterday that the government would introduce new instruments to attract foreign investments to re-energise the country’s economy.

National Development Bank PLC (NDB) yesterday revealed the plans to raise up to Rs.6.5 billion via a Basel III-compliant debenture issue.

Sri Lanka’s international sovereign bonds (ISBs) are gaining after they lost value during April and May, as the yields have declined sharply from their highs reached during the worst of the pandemic, in a sign that the investor confidence is rebuil

The government is planning to hand over the lands belonging to the loss-making plantation companies to tea smallholders, as a pilot project, a statement by the President’s Media Division (PMD) said.