Sri Lanka’s most diversified conglomerate, Hayleys PLC this week announced the commissioning of its first polyurethane (PU) foam mattress manufacturing facility as part of a continuing effort to capture a larger share of domestic and potential expo

The third stage of Gamperaliya rapid rural development programme is set to begin on September 1 allocating Rs.100 million for each electoral division.

Primary Industries and Social Empowerment Minister Daya Gamage is to submit a proposal to the Cabinet of Ministers to make people legally bound to be dressed in batik clothing every Friday. Gamage who

The National Savings Bank (NSB) demonstrated a robust performance during the first half of 2019 (1H19) amidst subdued macroeconomic and market conditions and witnessed a profit before tax (PBT) of

(Kula Lumpur) REUTERS: Malaysia’s Axiata Group Bhd yesterday said its planned merger with Norwegian telecoms peer Telenor ASA is on track, after local media reported the deal may have hit a snag.

(Colombo) REUTERS: Sri Lanka’s rupee closed almost steady yesterday at a fresh seven-month low, but risks of foreign fund outflows weighed on the currency after the Central Bank cut key monetary policy rates.

Tourism Development, Wildlife and Christian Religious Affairs Minister John Amaratunga plans to meet the Russian ambassador to Sri Lanka in an attempt to lift the travel advisory issued by the Russian Federation on visiting Sri Lanka, in the aftermat

Ceylon Petroleum Corporation (CPC) is opposing the Cabinet decision to sell aviation fuel at prices equal to the Chennai airport—a measure taken to help the tourism industry recovery after the April 21 Easter bombings— citing financial non-viabil

(Kuala Lumpur) REUTERS: Budget airline AirAsia Group Bhd yesterday reported its smallest quarterly net profit since 2014 as the airline recognised losses in its Indian associate company. The group said the second-quarter results recognised the share

The government has decided to introduce minimum energy performance stands for light emitting diode (LED) bulbs. The Cabinet of Ministers has approved a proposal in this regard by Power, Energy and Business Development Minister Ravi Karunanayake.

Singapore’s Surbana Jurong Infrastructure Pte. Ltd (SJIPL) and its engineering subsidiary SMEC International (Pvt.) Ltd Australia have won a Sri Lankan government contract to modernise four key towns in the country.

(Colombo) REUTERS: Sri Lanka’s rupee fell yesterday to its seven-month closing low as foreign fund outflows after the Central Bank cut key monetary policy rates weighed on the currency. Shares closed steady.

(Nairobi) REUTERS: Kenya’s anti-corruption commission said yesterday it had suspended a planned merger of Airtel Kenya with partly state-owned Telkom Kenya pending a probe into allegations about the misappropriation of public funds at Telkom.

The approval of the Cabinet of Ministers has been granted to change the name of the National Intellectual Property Office (NIPO) of Sri Lanka to Intellectual Property Department. The Cabinet office said the name change was aimed at resolving the issu

The common belief among the public is that there has to be a radical change in the current economic policies and work programmes undertaken during the last four and half years, as the overall economic growth has drastically reduced. Consequently, the

The second quarter of the Sri Lanka’s tea industry in 2019 saw a sharp decline in elevation averages in comparison to the first quarter.

Director General of Department of Export Agriculture, Dr. A.P. Heenkende delivered the keynote speech at 35th Annual General Meeting of the Spice and Allied Products Producers and Trades Association held in Colombo recently.

A ceremony was held on August 24 at the site of the Bogambara Prison Complex Redevelopment to announce the opening of Phase I of the Bogambara Cultural Park project.

The Finance Ministry is planning to set up a credit regulatory authority via the proposed Credit Regulatory Authority Act by end of this year to regulate microfinance and lending firms in Sri Lanka.

Top Korean nameplate Kia is to strengthen its presence in Sri Lanka with a distributor dealership model following the recent corporate structure change which saw Managing Director Mahen Thambiah securing 100 percent ownership with a total investment

(Kuala Lumpur) AFP: Malaysian prosecutors yesterday wrapped up the first of several cases against toppled leader Najib Razak over the plundering of 1MDB, a day before the start of his main trial linked to the scandal-hit fund.

Sri Lanka will become an oil and gas producing nation by the year 2022, as the island nation steadily moves ahead with plans to develop its offshore hydrocarbon potential, Petroleum Resources Minister Kabir Hashim said.

(Colombo) REUTERS: Sri Lanka’s rupee slipped yesterday amid worries over further foreign fund outflows after the Central Bank cut key monetary policy rates. Shares snapped four straight sessions of falls as investors picked up beaten-down banking a

(Bangaluru) REUTERS: The Indian economy likely expanded at its slowest pace in more than five years in the April-June quarter, driven by weak investment growth and sluggish demand, according to economists polled by Reuters.

On August 24, US President Donald Trump announced an increase from 25 to 30 percent for the existing tariffs on US $ 250 billion of Chinese imports from October 1 and new 15 percent tariffs on US $ 300 billion of Chinese imports from September 1. In

They call it the dry zone. A huge area of Sri Lanka that lies towards the North of the island, where there is a real shortage of water for agriculture and drinking.

President Maithripala Sirisena is yet to provide an opportunity for the country’s palm oil planters to present their case, despite several attempts been made to have a one-on-one meeting with the president.

Sri Lanka’s largest ferris wheel will soon make its first spin, soaking up bird’s eye views across the capital city and its suburbs. The iconic wheel would be part of a 1.5-acre entertainment zone, ‘Fantasy Island’, which also houses a large

The World Surf League (WSL) has announced that it will be returning to Arugam Bay, Sri Lanka, this September for the ‘So Sri Lanka Pro Men’s QS3,000’ event.