Norwegian online ad specialist Adevinta yesterday said it had reached a US $ 9.2-billion cash and shares deal to buy Ebay’s classified ad business and create the largest player in the field.

Sri Lanka has imposed increasing levels of controls on imports since March 2020. While this was partly a reaction to a balance of payments crisis, the restrictions are also intended to promote domestic industrialisation.

This is part of the interview series titled ‘Mirror Business S&P SL2- Insights’ conducted in collaboration with the Colombo Stock Exchange (CSE). The interview features DFCC Bank PLC Director/CEO Lakshman Silva. Following are excerpts from the in

Fitch Ratings Lanka yesterday reminded that the operating conditions for the banking sector have weakened, exerting further pressure on banks’ ratings, after the rating agency downgraded the country rating in April, citing heightened public and ext

The local construction sector yesterday expressed dissatisfaction in the manner in which the government is handling the settling of funds due, amounting to over Rs.50 billion, for projects already completed.

The sudden imposition of restrictions on imports indiscriminately has caused immense difficulties to importers of luxury items for houses and luxury apartments, which is a niche market in the Sri Lankan context, Mirror Business learns.

COVID-19 has forced Asian corporates to confront their business resilience in an unprecedented way, underlining the urgent need for greater digitisation in particular, according to HSBC’s Navigator report, Building Back Better, a survey of more tha

As the bank of the people, People’s Bank has stepped forward to fulfil its obligations and assist the government’s ongoing efforts to restart the Sri Lankan economy and help the people of the country to get some form of normalcy to their lives by

The market interest rates were seen responding to the most recent policy rate cut faster than earlier, as the Central Bank continues to push for adjustments in the bank lending rates while a committee meets daily to monitor and iron out any issues in

Most equities fell yesterday as a spike in new coronavirus infections across the planet forced governments to impose fresh containment measures, fuelling fears about the stuttering economic recovery.

Sri Lanka’s tourism sector witnessed a major setback being hit by the double whammy of the Easter Sunday attacks and coronavirus (COVID-19) pandemic, both within a year.

Anantaya Resort & Spa Chilaw, owned and managed by Laugfs Leisure Limited, has recently become the first resort in Sri Lanka to receive the Sri Lanka Standard (SLS) 1672:2020 certification from the Sri Lanka Standards Institution (SLSI) for COVID-19

Sri Lanka’s merchandise exports recovered strongly in June, staging what looks like a V-shaped recovery in most of the sectors, as the country’s exporter community responded to the call to ramp up their contribution to support the economy and emp

Banks have been spared from the need to risk weight against their capital on loans granted under the recently launched credit guarantee scheme by the Central Bank and the subsequent scheme to provide loans to the construction sector under Treasury gu

Chrishan Mendis B.Sc (Hons) FCMA CGMA FCIM and Chartered Marketer, has been elected to the CIMA Global Council from June 2020, for a term of three years from the United Kingdom.

A top PayPal official based in India is expected to visit Sri Lanka shortly to resume discussions to open up the global payment platform’s inward payment services to the country after the Central Bank (CB) re-established its links with Paypal.

Today, good governance is at the helm of discussion on corporate boards globally. In a hyper connected digital era, and post COVID-19, the importance of digital governance in an organisation’s sphere is in the limelight more than ever before.

Sri Lankans appeared to have spent less on their credit cards as they had limited opportunities to spend while they sheltered-in-place for almost two months under COVID-19 lockdowns.

Industrial Asphalts (Ceylon) PLC (IAC), the country’s pioneer in the bitumen business has embarked on an ambitious expansion plan banking on the government’s plans for rapid infrastructure development.

Retail sales rose in the United States in June but weekly data indicated a steady flow of layoffs, and with the coronavirus outbreak worsening, analysts fear further deterioration in the economy’s health.

Cuba will eliminate Monday the 10 percent tax it has previously levied on the use of the US dollar and widen the categories of products for which it can be used to pay in response to the country’s economic crisis caused by the coronavirus pandemic

Most Asian markets edged up yesterday following an across-the-board sell-off the previous day, but disappointing recent data has jolted optimism over the economic recovery that has helped drive gains for the past few months.

Singapore is now aspiring to increase its food self-sufficiency from less than 10 percent (2019) to 30 percent by 2030

Uber announced the appointment of Prabhjeet Singh as President Uber India and South Asia, tasked with overseeing the next phase of growth in the company’s mobility business and ensuring safety for riders and drivers across India, Sri Lanka and Bang

The leaders of the European Union held their first face-to-face summit in five months yesterday, but the reunion seems unlikely to bridge their divide over a post-virus economic rescue plan.

As Sri Lanka needs to urgently look at realigning its international trade efforts to become a strong contender in the post COVID-19 global market,

The Ambassador of the Islamic Republic of Iran, Hashem Ashjazadeh called on the Chairman of Civil Aviation Authority of Sri Lanka (CAASL) Upul Dharmadasa at the Civil Aviation Authority recently.

China’s economy returned to growth in the second quarter after a deep slump at the start of the year, but unexpected weakness in domestic consumption underscored the need for more policy support to bolster the recovery after the shock of the corona

In a bid to preserve foreign reserves amid slowdown in foreign inflows from trade and services, and upcoming debt repayments, the Monetary Board and the government have jointly decided to extend the current controls on capital account transactions fo

Non-bank finance company sector asset quality hit a fresh low even before the full effects coming from the pandemic had a bearing on the repayment capacity of borrowers as non-performing loans (NPL) in the sector rose to a new high in the three month