The Bank of Ceylon (BOC) this week said it would raise as much as Rs.12 billion through a private placement of subordinated debentures to prevent its capital base from falling towards the regulatory minimum under the new capital rules stipulated by B

Sri Lanka’s factory output picked up pace in June, as activities returned to normalcy after Easter Sunday attacks with employees returning to work and production gathering steam after two months of paralysis across sectors in April and May.

Sunshine Holdings PLC and CIC Holdings PLC this week said they called off plans to combine their healthcare sector operations as announced in March this year.

The government and Central Bank have launched a campaign to bring down the lending interest rates to stimulate economic growth. The Central Bank in May cut the policy rates by 50 basis points and slapped the caps on deposit rates. The government is o

Traditionally, one of the main indices by which tourism performance is assessed the world over is analysing the total tourist arrivals into a country. Historically, Sri Lanka also has been adopting this method. However, Sri Lanka seems to place too m

(Unawatuna/Galle) REUTERS: Pearl Divers, a diving school on one of Sri Lanka’s most popular southern beaches, shut shop for two months after suicide bombers attacked churches and hotels on the island on Easter Sunday, killing about 250 people. It h

A sale of shares of LOLC Finance PLC (LOFC) to a subsidiary incorporated overseas boosted the Colombo Stock Exchange yesterday, which allowed the bourse to report a turnover of over Rs.9 billion for the first time thi

A team of 18 Australian travel and tour operators arrived in Sri Lanka on a 10-day familiarisation tour hosted by the Sri Lanka Tourism Promotion Bureau (SLTPB). Tourist arrivals from Australia have shown a steady increase in recent months and it is

(Manchester) REUTERS: Mathematician Alan Turing, whose cracking of a Nazi code helped the Allies to win World War Two but who committed suicide after being convicted for homosexuality, will appear on the

(Beijing) REUTERS: China’s economic growth slowed to 6.2 percent in the second quarter, its weakest pace in at least 27 years, as demand at home and abroad faltered in the face of mounting US trade pressure. While more upbeat June factory

The Japan International Cooperation Agency (JICA), in cooperation with the Tourism, Wildlife and Christian Religious Affairs Ministry, successfully completed a joint seminar themed ‘Recovery of tourism sector in Sri Lanka after the Easter bombings

Transportation and Civil Aviation Ministry last week said it had started the process of upgrading Google Maps to show public transportation services as a part of Google Transit, and it would be available for use in Google Maps covering the Western Pr

Industrial production recovered in the month of May after hitting a 3-year low in April due to traditional New Year holidays and Easter Sunday bombings that kept workers away from factories. The Index of Industrial Production (IIP) increased by 0.4 p

The Enterprise Sri Lanka exhibition organized by the Ministry of Finance will be held in Anuradhapura Walisinghe Harischandra playground from 24th to 27th this month from 10.a.m. to 10 p.m. daily.

ISLAMABAD (AFP) - Pakistan will have to pay almost US$ 6 billion in damages to a foreign gold mining firm whose dig was shut down by the government in 2011, the World Bank said yesterday.

Parliament is scheduled to take up a resolution on July 24 to grant authority to the President to declare the reclaimed Colombo International Financial City (CIFC) land as part of Colombo district. The Secretary to

Diversified and export-oriented manufacturing is the way forward for Sri Lanka to develop as a nation, as no country has ever advanced without export-oriented manufacturing, world renowned Lankan

COLOMBO (Reuters) - Sri Lankan shares rose for the fourth straight session yesterday to a more than 12-week closing high, a day after the central bank kept its key policy rates steady. The Central Bank left key interest rates unchanged on Thursday as

SINGAPORE (AFP) - Growth in export-reliant Singapore suffered a surprise sharp contraction in the second quarter, official data showed yesterday, sending a stark warning that US-China trade tensions are hurting the global economy. The city-state’s

The Sri Lanka – Greater Mekong Business Council (SLGMBC) of the Ceylon Chamber of Commerce organized a successful business promotion mission to Myanmar recently. The delegates met with the Ambassador of Sri Lanka in Myanmar and attended the Yango

Tharaka Amarasena, the Manager of the Colombo Stock Exchange (CSE) Anuradhapura branch was recently recognized by Toastmasters International as its District 82 Toastmaster of the year for 2017/18.

HAVANA (AFP) - Cuba has revised down by about 15 percent its forecast for the number of tourists visiting this year, after a US ban on cruise ship stopovers in the Communist island, the government said on Thursday.

In the article titled ‘Adamjee Lukmanjee sets up Sri Lanka’s first pepper cleaning facility’, which was published in Mirror Business on July 11, 2019 (Page 1), it was mentioned that Adamjee Lukmanjee was the first to set up a pepper cleaning fa

HONG KONG (AFP) - Asian equities rose yesterday, building on optimism fuelled by expectations of a Federal Reserve interest rate cut, with debate now focusing on how far the central bank will go.

HAMBURG (REUTERS) - Carmaker Volkswagen will inject US$2.6 billion into Ford’s self-driving unit Argo AI at an overall valuation of US$7 billion in the deal, a source close to the matter said yesterday. Volkswagen will contribute

TOKYO (AFP) - A Tokyo-based cryptocurrency exchange said yesterday it had halted all services after losing cryptocurrency worth more than US$32 million in the latest apparent hack involving virtual money.

Tourism is the only way to overcome extreme poverty in Sri Lanka where 40 percent of the population is unable to afford three decent meals a day, Sri Lanka Tourism Promotion Bureau (SLTPB) Chairman Kishu Gomes said.

The Central Bank (CB) yesterday cut the economic growth to 3 percent for the year from the earlier projected 4 percent, as the Easter Sunday attacks adversely impacted the economic activities.

The picture shows a group of tourists at the Independence Square, Colombo 07 yesterday. Tourist arrivals almost doubled in June over May as the industry which generated US $ 4.4 billion for Sri Lanka’s economy last year moves to recovery after the