The government is to seek parliamentary approval to enact the US $480 million Millennium Challenge Corporation (MCC) Compact agreement and the Programme Implementation Agreement, which were drafted with the consent of theAttorney General, according t

REUTERS:  Sri Lankan shares rose yesterday to close at their highest in more than 13 weeks as investors took positions two weeks ahead of presidential polls, analysts said. Sajith Premadasa, the Housing Minister and one of the two presidential fron

The Sri Lankan government will retain the option to amend the identified projects in the US $ 480 million Millennium Challenge Corporation (MCC) Compact even after the signing of the agreement, the Finance Ministry said.

Laugfs LPG terminal, a subsidiary of Laugfs Gas PLC, may begin the construction of the second stage of its state-of-the-art LPG transhipment terminal at the Hambantota Port by next April, increasing the capacity of the terminal by further 15,000 MT t

Leading textile maker, Teejay Lanka PLC, with manufacturing plants in Sri Lanka and India, saw its September quarter (2Q20) profits soaring, supported by efficiency improvements, strong order book and stable cotton prices.

Ceylon Cold Stores PLC (CCS) saw its September quarter (2Q20) earnings improving 45 percent year-on-year (YoY) to Rs.277.9 million, mainly supported by the group’s manufacturing business segment.

Seylan Bank PLC, with an asset base of Rs.489.5 billion, reported a subdued performance for the September quarter (3Q19) amid a sharp rise in the provisions made against the possible bad loans, the interim accounts released to the Colombo bourse show

(Colombo) REUTERS: Sri Lankan shares slipped yesterday after nine straight sessions of gains to a 13-week closing high, while the rupee closed slightly weaker.

Laugfs Gas PLC, Sri Lanka’s only private sector LPG supplier, yesterday said it has secured adequate LPG supplies for the next four months, after experiencing a shortage due to the drone attack at the Saudi Aramco oil processing facilities in Abqai

The sustainability of Ceylon Tea or Sri Lanka tea industry depends on how efficiently and effectively it can adapt to match the changing global consumer preferences and consumption patterns.

Indonesian President Jokowi, who was re-elected for a second term, has made start-up founder Nadiem Makarim the country’s Education Minister. The minister was quick to say that Indonesia thrives on talent and if Indonesia is to produce more high-qu

The Ceylon Chamber of Commerce (CCC) launched the working draft of Sri Lanka Economic Acceleration Framework (SEAF) 2020-25, on September 17, 2019.

COYLE Sampath Bank Leadership Forum 2019, held for the sixth consecutive year, saw industry veterans share their success stories to inspire future potential entrepreneurs and leaders. The event was organised by the Chamber of Young Lankan Entrepreneu

BPPL Holdings PLC, the maker of brushes and yarn using recycled plastic said the company is currently witnessing a moderation in customer orders from North America and Europe, but confided that such a slowdown could be well offset by higher revenues

A group of Sri Lankan professionals have joined together to form CAG Lanka (Citizens for Accountable Governance Lanka (Guarantee) Limited). This non-profit advocacy organization organized an informative event to educate the general public on the imp

The government has revised the Luxury Tax formula on vehicles by resorting to calculate the tax based on the manufacturing cost or the cost, insurance and freight (CIF) value of a vehicle, instead

The population concentration in Sri Lankan cities has accelerated in recent years. A recent report revealed that cities such as Anuradhapura, Badulla, Colombo, Galle and Jaffna have expanded greatly since the 1990s.

Relatively inexpensive, ubiquitous and convenient, three-wheelers offer an indispensable service to Sri Lankans. The most important advice any seasoned three-wheeler passenger would offer a first-timer would be to learn the art of haggling. While som

The Ministry of Development Strategies and International Trade (MODSIT) together with the USAID-SAIL project hosted a public-private dialogue (PPD) on global trade for businessman in the Kurunegala District on September 27, 2019, at Hotel Kamrel in

RIYADH (AFP) - Top finance moguls and political leaders attended a Davos-style Saudi investment summit yesterday, in stark contrast to last year when outrage over critic Jamal Khashoggi’s murder sparked a mass boycott. Organisers say 300 speakers f

REUTERS - Sri Lankan shares closed at 13-week highs yesterday led by financial and diversified stocks, while the rupee closed weaker on dollar demand from importers. Presidential candidate G

State-owned Litro Gas yesterday identified increased local demand due to price reductions and global supply constraints as two key reasons for the current LP gas shortage experienced by consumers.

Currently, more than 28,000 species are threatened with extinction according to the International Union for Conservation of Nature (IUCN) Red List of Threatened Species - the world’s most comprehensive information source on the global conservation

Colombo-based think tank Advocata, which promotes free market principles, yesterday urged the government to prioritise a suggestion to include the Attorney General’s Department representatives at the Committee on Public Enterprises (COPE) proceedin

(Hong Kong) AFP: HSBC’s interim chief executive yesterday said the banking giant was underperforming in parts of Europe and the United States, as third-quarter profits slipped and the lender warned of further headwinds.

(Colombo) REUTERS: Sri Lankan shares closed at a 12-week high yesterday, led by financial services and telecom companies, while the rupee closed weaker on dollar demand from importers.

The Sri Lankans who have subscriptions on foreign video streaming services such as Netflix and like to order things online from digital market places such as ebay and AliExpress are set to pay more as the government has slapped a 3.5 percent levy on

Tea Smallholder Factories PLC, which buys green leaves from smallholders and leaf collectors and turns them into black teas through its seven factories, managed to cut losses in the three months to September 30, 2019.

People’s Leasing & Finance PLC reported muted performance for the September quarter as the company experienced a de-growth in loans and leases while the provisions for doubtful loans rose as the economic malaise in the wider economy hit the country