A Colombo-based research firm yesterday charged that the government’s failure to address the issues relating to the highly debated tobacco tax policy has led to a shift towards illicit products, which has already resulted in a considerable loss in

Expolanka Holdings PLC yesterday said it settled a lawsuit against its US subsidiary by agreeing to pay US $ 6.75 million without acceptance of liability.

(London) AFP: British travel group Thomas Cook yesterday declared bankruptcy after failing to reach a last-ditch rescue deal, triggering the UK’s biggest repatriation since World War II to bring back tens of thousands of stranded passengers.

Sri Lanka’s countrywide inflation measured by the National Consumer Price Index (NCPI) rose to 3.4 percent in August, from 2.2 percent in July, amid the low base that prevailed in the corresponding month of the previous year and the increases in th

Dankotuwa Porcelain PLC was adjudged as Best Exporter in the Porcelain and Ceramic category at the recently concluded Presidential Awards 2018/19.

Raising the bar higher for excellence in the field of customer satisfaction, application of exemplary facility management practices with a commitment to protect the health and safety of the community at large, Facilities Management Integrated has set

Anverally and Sons (Pvt) Ltd., one of Sri Lanka’s oldest exporters of tea, with a history of 129 years, has won three awards on consecutive days last week, demonstrating the company’s continuing dynamism.

Pearson Lanka this week officially announced the relocation of their 300-strong global Technical Operations team to an ultra-modern facility located at the iconic ‘MAGA ONE’ building in Colombo 5.

Sri Lanka is a country in the shape of an ellipse. While the central part is mountainous, the rest of the island is a flat plain. The distance from the North to South is about 420 km and from East to West, it is about 220 km at the maximum point.

The economic growth of the Western Province could be accelerated by 10 percent per annum with the implementation of the advanced traffic management system proposed under the US$ 480 million Millennium Challenge Corporation (MCC) grant to Sri Lanka, a

As efforts to introduce a productivity-based wage model to the plantation sector have repeatedly proved futile with politicised estate sector trade unions, Sri Lanka’s Regional Plantation Companies (RPCs) now seek State intervention at the Colombo

A leading academic in the country has called for smarter revamping of the local higher education sector, as Sri Lanka falls behind lower middle-income economies in this regard. While a large proportion

Sri Lankan presidential nominee Gotabaya Rajapaksa would ‘restore relations’ with the country’s top lender China if he wins the Nov. 16 vote and met with a senior Chinese official this week, according to an adviser

The Sri Lanka Tourism Promotion Bureau (SLTPB) has made arrangements to participate at the World Travel Market (WTM) 2019 at a grand scale, which the agency said is set to bring a wide variety of opport

(Colombo) AFP: A fresh inquiry into the Easter suicide bombings that hit Sri Lanka killing at least 258 people was ordered by President Maithripala Sirisena yesterday, after concerns from the Catholic Church that current probes are not independent

(Washington) AFP: It could be a manipulated video embarrassing a candidate. Or a computer voting system locked by ransomware. Or doubts about electronic voting machines with no paper backups.

HONG KONG (AFP) - Asian markets edged up yesterday as investors turn their attention to the China-US trade talks, while keeping an eye on the Gulf region after last week’s air strikes on Saudi oil facili

As part of their milestone partnership with Hyundai Motor Company, Abans Auto will be launching a Hyundai Experience Centre at Colombo City Centre (CCC) on November 8. This embodies Abans Auto’s aim to offer a transformative dealership experience

WASHINGTON (AFP) - The crisis hammering Argentina would have been much worse had the International Monetary Fund not stepped in with a massive rescue programme, outgoing IMF chief Christine Lagarde said this week. “I look at Argentina when it came

REUTERS - Google will make an additional investment of 3 billion euros (US$3.3 billion) over the next two years to expand its European data centres, Chief Executive Sundar Pichai said in Finland.

(REUTERS) - Sri Lanka’s rupee closed weaker for the fifth straight session yesterday on continued demand for dollars from banks, while equities ended the week on a negative note.

TOKYO (AFP) - Major Japanese trading house Mitsubishi Corp said yesterday it was carrying out an investigation after its Singapore-based subsidiary lost US$ 320 million because of unauthorised trades by an employee. In a statement, the fir

MUMBAI (AFP) - India said yesterday it would slash corporate taxes to among the lowest in Asia as part of its drive to kickstart the stuttering economy, sending the country’s stock market surging as analysts predicted

Global leader in advisory services, Ernst & Young said Sri Lanka’s SMEs sector urgently requires the establishment of a ‘Credit Guarantee Corporation’, so that it receives the much needed boost, as current efforts taken by authorities are not r

Head of the Institute for Health Policy (IHP), a regional centre of excellence for health policy research stated that the country’s current healthcare system is unable to undergo any improvements as the low tax income and political interference mak

As Sri Lanka’s electronic transaction grows rapidly driven by evolving e-commerce space, Visa, the global payments technology company launched a new roadmap to secure Sri Lankan consumers and businesses from breaches.

Sri Lanka is moving ahead to strike a US$250 million worth tea-for-debt barter deal and revive tea exports to Iran while settling outstanding oil credit over a 50-month period, subsequent to securing Cabinet approval. The Cabin

Brandix was bestowed with the accolade ‘Exporter of the Year’ by President Maithripala Sirisena at the Presidential Export Awards 2018/2019 held yesterday. The award was accepted by Brandix Directors Ranga Ranmadugala and Dave Ranasinghe (L to R)

Sinhaputhra Finance Plc, non-bank lender in Sri Lanka has been given time to raise capital, the Central Bank said. “In view of the proposed capital augmentation plan submitted by the Sinhaputhra Finance PLC (SINF) and in the interest of depositors,

Sri Lanka’s Monetary Board of the Central Bank has decided to cancel the licence issued to TKS Finance Limited (TKSF) to carry on finance business with effect from yesterday. The Central Bank said the financial condition of TKSF is not satisfactory