MTD Walkers PLC, a construction major mired in losses, yesterday informed the Colombo Stock Exchange that one of its creditors has obtained an enjoining order preventing them giving effect to a recent volunta

Jonathan Alles, Managing Director and Chief Executive of Hatton National Bank (HNB) in an interview with Mirror Business speaks about the bank’s key achievements, banking sector performance, fourth industrial revolution etc. Excerpts:

The lending rate caps on banks may not yield the desired effect of stimulating credit demand in the short term, as the root cause of the problem lies not with the rates but with the borrower sentiments and subdued economic activity, said Fitch Ratin

The Sri Lanka Export Development Board (EDB) kicks off the groundwork to develop an international wellness tourism strategy and a brand development initiative within a year, to position the country as a leading player in the US $ 2.6 trillion global

Following two years of extensive negotiations and deliberations, Litro Gas Lanka, Sri Lanka’s largest importer and supplier of liquefied petroleum gas (LPG), has been able to arrive at an agreement with the Consumer Affairs Authority (CAA) of Sri L

The finance sector holding company of Softlogic Holdings PLC, Softlogic Capital PLC, yesterday revealed plans to raise Rs.1.5 billion via a listed debenture issue.

Capital Alliance (CAL) extends its market leadership in investment banking services with its transaction footprint exceeding Rs.100 billion in the past two years.

(Colombo) REUTERS: Sri Lankan stocks and rupee closed firmer yesterday after presidential frontrunner Gotabaya Rajapaksa, who faced uncertainty over his candidature, filed a nomination early in the day.

The middle-income trap has become a concept deployed frequently in conversations among policymakers and academics in East Asia. The term is used by those trying to understand failed industrial upgrading in the region, which has occurred against a bac

As Sri Lanka’s annual public service salary and pension bill exceed one trillion rupees per annum for the first time in history, the writer calls upon Presidential Candidates to present their proposals for meaningful public service reform.

Sri Lanka is urged to broad-base its high school education system through a multidisciplinary and interdisciplinary approach to prepare future graduates to stay relevant in the dynamic economy.

Addressing the 59th Session of the WIPO General Assemblies recently, the delegation of Sri Lanka recalled how strengthened Intellectual Property systems remained critical to the effective pursuit of economic and social development, by enabling develo

Sri Lanka has activated the long awaited free insurance facility to its historic crafts and handicrafts sectors. Sri Lanka announced it’s also keen on introducing hi-tech design tools to its craftsmen so that their intricate work could garner bett

As Sri Lanka increasingly indicates characteristics of a debt trap scenario, an academic urges the government to consider setting-up a professional debt management unit to manage the debt efficiently. “A typical debt trap situation is when you a

Cinnamon Hotels & Resorts, the leisure arm of John Keells Holdings continues expansion with the opening of its newest hotel, Cinnamon Velifushi Maldives. The opening of the new r

BERLIN (Reuters) - Daimler said recently Mercedes-Benz customers in Germany could apply for a 3,000 euro (US$ 3,350) subsidy to upgrade the exhaust filters of older, polluting diesel vehicles, the latest effort am

TEHRAN (AFP) - Iran’s oil minister said yesterday that China’s CNPC has withdrawn from the development of an offshore gas field and that state-owned Petropars will take over the entire project. The South Pars gas field was to be developed jointly

Bringing in new hopes to the Sri Lankan cinema industry, construction work for Cinecity Waterfront and Art Centre commenced yesterday. Back in the day Pettah has had strong links to Sinhala Cinema and was frequented by artistes and those who appreci

The maiden launch of the Ceylon Tea Global Promotion Campaign took-off ceremonially with pomp and pageant in the capital city of the Russia Federation last week. Moscow was the center of attraction where 150 guests from the tea fraternity were mesme

The Ministry of Development Strategies and International Trade (MODSIT) and the Board of Investment of Sri Lanka held an interactive meeting titled ‘German Sri Lankan Fast Track Dialogue with the German investor community’, to address any issues

The Colombo Stock Exchange (CSE) yesterday joined market operators around the world by ringing the bell for financial literacy, to celebrate World Investor Week 2019, a global campaign that aims at raising awareness amongst the masses on the features

SAN FRANCISCO (AFP) - US computer and printer maker HP announced Thursday it will cut more than 10 percent of its global workforce to simplify operations and cut costs. The California-based company said it will trim its workforce of some 55,000 emplo

HONG KONG (AFP) - Asian markets were mixed yesterday as investors tentatively await the release of key US jobs data later in the day, following a number of disappointing figures this week that fanned concerns about the world’s top economy. Hong Kon

NEW DELHI (AFP) - Japanese clothing giant Uniqlo yesterday opened its first store in India, one of its largest worldwide, becoming the latest global retailer to plunge into the huge but tough developing market. The South Asian nation, w

AIA Insurance Lanka PLC said yesterday it received a letter from the Colombo Stock Exchange confirming that the company was delisted from the official CSE list effective October 2, 2019.

Tourist arrivals in the month of September slowed 24.4 percent from a month ago to 108, 575, ending the three-month recovery streak that followed Easter Sunday attacks, according to data released by the Sri Lanka Tourism Development Authority (SLTDA)

First Capital Research (FCR), a Colombo-based equities research house, expects Sri Lanka’s economic growth to pick up to 4.1 percent next year with possible easing of political uncertainty following the Presidential Election scheduled for next mont

Access Engineering PLC will invest big money in its latest acquisition, W.U.S. Logistics (Pvt) Ltd., which marked the construction major’s entry into the logistics sector, to set up a world-class logistics facility in Kimbulapitiya, Negombo.

The National Chamber of Exporters (NCE) which services the most vital component of the economy, namely exports, yesterday expressed its utter dismay at the failure of the political leadership to have acted and halted the ongoing railway strike.

(Kuala Lumpur) REUTERS: Malaysian telecoms firm Axiata Group Bhd has asked its edotco towers unit to seek deals to enter new markets or expand in Southeast Asia and South Asia, and may consider selling a stake if attractive large investment opportuni