Sri Lanka’s banks, which are already grappling with increased bad loans, fear far-reaching negative impacts on the sector from the recent government directive to extend a one-year moratorium on small and medium-sized enterprise (SME) loans.

Kyriad, a historical brand of France-based Louvre Hotels Group’s (LHG) is entering Sri Lanka with plans to manage 2,000 rooms in 15 hotels across the country in five years, while targeting to bring over one million additional tourists to the Island

Tea industry veteran Jayampathy Molligoda has been appointed as the Sri Lanka Tea Board Chairman.

A group of top investors from China’s Jilin Province were in Sri Lanka recently to explore investment opportunities in the country.

The Colombo Stock Exchange (CSE) has announced changes to the S&P SL 20 index constituents made by S&P Dow Jones Indices at the 2019 year-end index rebalance.

Robert Allen Iger (born February 10, 1951) is an American film producer, author and businessman, who is Chairman and Chief Executive Officer (CEO) of The Walt Disney Company. Before working for Disney, he served as President of ABC Television during

STOCKHOLM (AFP) - China has called off two business delegation visits to Sweden, China’s ambassador to Stockholm said, after Culture Minister Amanda Lind defied a Chinese threat of “counter-measures” by presenting a rights prize to dissident Gu

BERLIN (AFP) - German consumers are slightly more pessimistic heading into January, a key survey found yesterday, as fears mount that a global slowdown could trigger job losses in the export-driven powerhouse.

PARIS (AFP) - France’s competition authority has fined Google 150 million euros (US$ 167 million) for abusing its dominant position on the market for advertising linked to web searches, the regulator announced yesterday.

WASHINGTON (AFP) - A wave of debt in emerging and developing nations has grown faster and larger than in any period of the last five decades and could end with another crisis, the World Bank warned Thursday.

General Daya Rathnayake, former Commander of the Army and former Commissioner General of Rehabilitation assumed duties as the new Chairman of Sri Lanka Ports Authority (SLPA) yesterday.

President Gotabaya Rajapaksa and Prime Minister Mahinda Rajapaksa who is also the Minister of Finance, Economy and Policy Development have issued directives to Chairmen and CEOs of all banks to suspend recovery of loans obtained by the SME sector.

Asian markets were mixed yesterday as investors await fresh catalysts to drive business, though with the China-US trade deal agreed and Christmas approaching many are in wind-down mode.

SriLankan Airlines entered the arena of Electronic Sports or Esports recently at the Mercantile Esports Championship organized by Gamer.LK, with its team performing creditably in the face of some stiff competition from other organisations.

Leading entrepreneur and exporter, Prabhash Subasinghe assumed duties yesterday as the new Chairman of Export Development Board (EDB).

Fitch Ratings yesterday revised the Outlook on Sri Lanka’s ‘B’ rating to Negative from Stable on debt repayment concerns arising from the recent economic stimulus announced by the government by slashing taxes significantly, which is set to leav

Sri Lankan authorities yesterday strongly disputed the Fitch Ratings move to revise the country’s rating outlook to ‘Negative,’ and said it was hastily done without considering facts on the ground.

In line with his vision for a technology-driven Sri Lanka, President Gotabaya Rajapaksa has appointed a tech-studded board for the Information and Communication Technology Agency of Sri Lanka (ICTA), featuring industry leaders, technology entrepreneu

A consortium of investors put together by Tempest PE Partners (Pvt) Ltd has acquired a 75 percent stake in specialist cable manufacturer, Cable Solutions (Private) Limited (CSOL), from three of its foreign shareholders for Rs.710 million.

Earnings of the 264 companies listed on the Colombo Stock Exchange declined by 9.6 percent year-on-year (YoY) to Rs.45.8 billion during the September quarter, though slightly better than the previous quarter, and considerably better than March 2019 a

Sri Lanka’s economy grew 2.7 percent in the third quarter of 2019, partially recovering from the Easter Sunday attacks, driven by notable expansions in industry and services activities, although the tourism industry struggled to achieve significant

Our hearts sank as we looked at the Hurricane Katrina-affected house, now the Flooded House Museum in the City of New Orleans, United States. Our team from the World Bank was accompanying Sri Lankan officers visiting New Orleans in October 2019, to l

NDB Investment Bank (NDBIB) completed another successful transaction in the Maldives by arranging a US $ 12 million loan facility for The Hawks Private Limited (Hawks), the largest private sector company engaged in the import and distribution of high

Corporate leader and former John Keells Holdings (JKH) Chairman Susantha Ratnayake has been appointed as Chairman of the Board of Investment (BOI). Ratnayake

Leading entrepreneur and exporter, Prabhash Subasinghe has been appointed as Chairman of the Export Development Board (EDB). Subasinghe functioned as an EDB board member, previously.

Deputy Secretary to Treasury A.R. Desapriya, who was appointed as Chairman of the Securities and Exchange Commission (SEC) earlier this month, has tendered his resignation, Mirror Business learns.

In a survey to find out if an enabling environment is available for cross-border e-commerce sales, Sri Lanka leads South Asia in most rankings, almost on par with India in certain areas, but the region la

Troubled finance firm, The Finance Company PLC (TFC), which has been issued a notice of cancellation of licence by the Central Bank, yesterday said there were inquires from interested parties considering making an investment in the firm, albeit such

The World Bank (WB) has approved a US $ 25 million loan to the Government of Sri Lanka (GOSL) to improve the transparency and efficiency of core government and public financial management functions. The Public Sector Effi

The government will establish a new national development bank under its emergency relief package to provide concessionary rate loans to encourage identified sectors ranging from import-export trade, construction, small and medium enterprises (SMEs) a