Sri Lanka’s second largest private bank by assets, Hatton National Bank PLC (HNB) said it successfully raised Rs.10 billion via a listed debenture issue. HNB in September last year, announced plans to issue 50 million BASEL III-compliant, Tier II

Japan’s Sugano Packing Material Co. Ltd is to invest US $ 7.5 million to set up a manufacturing plant to make flexible polythene packaging for Sri Lanka’s tea industry and other sectors. The manufacturing plant, to be located in Ja-Ela, will prod

MTD Walkers PLC, a construction company mired in losses, yesterday told the Colombo Stock Exchange businessman Ravi Wijeratne, one-time director of the company, has agreed to buy the controlling stake held by the firm’s Malaysian parent. A stock e

The tea exporters recently complained that the decline in trade finance in the Sri Lankan banking sector restricts tea exports to key traditional markets while hindering the efforts by the exporters to penetrate into new markets. “Due to various r

Sri Lanka’s largest brewer, Lion Brewery Ceylon PLC, has entered Fiji with its complete Lion range consisting of Lion Lager, Lion Stout, Lion Strong and Lion Extra Strong. A company statement said the products would be available across leading bars

Sri Lanka’s rupee closed higher yesterday from its lowest level in more than seven months hit in the previous session after foreign fund outflows from government securities showed a declining trend, wh

(Singapore) REUTERS: Uncertainties surrounding the global economy, a prolonged trade war between the United States and China and increasing US supplies are expected to weigh on oil prices this year, executives at a key industry conference said yester

Sri Lanka’s tile and bathware market leader Royal Ceramics Lanka PLC yesterday announced the amalgamation of Royal Porcelain (Pvt.) Ltd, a fully-owned subsidiary of the firm.

ME Colombo, standing as the only design concept hotel in Colombo, with a mesmerising view of Colombo’s skyline, boasts high-end atmospheric offerings along with understated elegance and refined luxury,

Prime Minister Ranil Wickremesinghe inaugurated the Enterprise Sri Lanka exhibition in Jaffna on Saturday. Finance Minister Mangala Samaraweera, State Minister Wijeyakala Maheshwaran, TNA MPs M. A. Sumanthiran, Mawai Senathirajah and Dharamalingam Si

Privately held Danish water pump giant Grundfos has reported continued momentum and sales growth in most markets with Western Europe, China, and the global service business as the main contributors.

For the first time in Sri Lanka, Microsoft Envision Forum will take place in Colombo on September 11. The inaugural full-day conference is part

Sri Lanka’s tea industry stakeholders were urged to create a common platform quickly to make a paradigm shift to revive the struggling 150-year old industry by committing to the globally recognised Ceylon Tea brand, its core values and its brand pr

India envisions a ‘multipolar Asia’: shared regional leadership where major and minor powers have equal standing in decision-making. This model is based on the rationale that China’s rise in Asia is unbalancing the regional power structure and

The presidential elections are around the corner and it is likely it will be held on Saturday, November 16 or 23. The main issues for public debate at the presidential elections would be national security concerns, economic downturn, further strength

(Kuala Lumpur) REUTERS: Malaysia’s Axiata Group is discussing deals with other parties and considering an initial public offering of its tower business, executives said after announcing the collapse of a planned Asian telecoms deal with Norway’s

Sri Lanka Telecom PLC (SLT) is to carry out a private placement of shares to meet the regulatory minimum public shareholding requirement stipulated by the Colombo Stock Exchange listing rules.

Finance Minister Mangala Samaraweera who is in Jaffna overseeing the implementation of the entrepreneurship loan scheme to young people in the Northern Province yesterday held series of meetings with war-affected people in order to help them make use

Sri Lanka has slumped 13 places to be ranked 77th out of 140 countries in the World Economic Forum’s (WEF) latest Travel & Tourism Competitiveness Report published under the theme of ‘Travel and To

The Sri Lanka Buildcon and Wood International Expo supported by Confederation of Indian Industry (CII) and Ministry of Commerce & Industry of India was inaugurated yesterday by the Minister of Megapolis & Western Development, Patali Champika Ranawaka

HONG KONG (AFP) - Asian markets rose again yesterday as the feel-good factor that fired investors the day before looked set to push into the weekend, fuelled by upbeat data and trade optimism.

The Enterprise Sri Lanka Jaffna exhibition organized by the Ministry of Finance which aims to create entrepreneurs will be declared open by Prime Minister Ranil Wickremesinghe in Jaffna today (September 7).

Sri Lanka’s rupee closed at its lowest level in over seven months as foreign fund outflows from government securities rose, while stocks extended losses for the third straight session. The rupee ended weaker at 180.80/181.00 per dollar, its lowest

TOKYO (Reuters) - Nissan Motor Co is considering pulling out of South Korea, the Financial Times reported yesterday, as political and trade tensions between Japan and South Korea have caused sales of Japanes

HONG KONG (AFP) - Hong Kong’s reputation as a dependable financial hub took a hit yesterday after Fitch downgraded the city’s sovereign rating, citing ongoing protests and uncertainty caused by closer integration with the Chinese mainland.

WASHINGTON (AFP) - The pace of downsizing at American companies surged last month, with more than 10,000 job cuts blamed on “trade difficulties” alone, according to figures released this week.

BEIJING (AFP) - China’s central bank announced yesterday it was cutting the reserve requirements for banks, in a bid to boost lending and bolster the slowing economy.

Ahead of the upcoming election cycle, Sri Lanka’s corporate sector leaders stressed on decisive leadership, security, national economic policy, rule of law, increased R&D spending and educational reforms to transform the country to an export-orient

Shermal Fernando has been appointed as Chief Operating Officer (COO) of CIC Holdings PLC with effect from September 1, the company said in a brief media statement yesterday.

The Central Bank (CB) has secured Cabinet approval to appoint lead managers to launch Sri Lanka’s first ever yen-denominated Samurai bond issuance