Banks may like to raise more capital from their stock holders citing constantly updated regulatory requirements and to fund their ambitious growth plans but at a return as little as 10 or 11 percent, not many will be willing to risk their money.

The government of Germany has agreed to provide 11 million euros as a grant to build a German Technical Training Centre in Matara, to provide state-of-the-art training opportunities to the youth in the southern part of Sri Lanka.

India’s leading auto manufacturer Mahindra & Mahindra Ltd and Sri Lanka’s Ideal Group (Pvt.) Ltd will this June commence operations of its US $ 50 million vehicle assembly plant located in Horana, targeting the Sri Lankan market and future export

The Minister of Development Strategies and International Trade, Malik Samarawickrama will visit China next month to hold ministerial level discussions to resume negotiations in connection to the proposed Sri Lanka-China FTA. Speaking to Mirror Busine

Of late, there has been much debate and concern voiced about tourists standing at the doorways of trains and even hanging out, while the train is moving. Some pictures of a young couple hanging out of a train, while clutching on to the side rails, we

A delegation from Chengdu Association for Foreign Trade and Cooperation (CAFTEC) Chengdu, China visited the BOI and met with the Chairman Hemasiri Fernando. The delegation consisted of Chen Xia, Secretary General (CAFTEC) who was accompanied by two

REUTERS (Colombo): Sri Lanka’s State-run power firm has imposed daily power cuts for the first time in more than two years as a drought has slashed hydro-power output, highlighting the government’s failure to build new power plants, officials sa

By Nishel Fernando Sri Lanka Telecom (SLT) is to enhance its network access to cover 90 percent of the country’s population within this year by continuing its aggressive investments in expanding extensive fibre optic network and 4G converge, as t

The National Development Bank PLC (NDB) yesterday announced the over-subscription of the initial tranche of its subordinated debenture to beef up Tier II capital base which is being rapidly taken up to support its aggressive lending in to the newly v

Reuters: Sri Lankan shares closed at their lowest in more than six years yesterday, ending weaker for a seventh straight session, dragged down by telecommunication and banking stocks. The market awaits for some positive news from the third and fina

PARIS (AFP) - Chinese President Xi Jinping yesterday stressed the growing convergence between Beijing and the European Union on global issues from climate change to trade, urging the two sides to overcome their “suspicions.” At a meeting in Pari

Sri Lanka’s motor insurance sector growth will slow as the recent excise duty increase and luxury taxes imposed from the budget presented in March will dent the demand for motor vehicles but the non-motor segment shows prospects for longer-term gro

Sri Lanka’s private sector credit or the credit extended to private individuals and business enterprises by the banking sector rose at a healthier pace during 2018, defying the policies broadly tilted towards the tightening side.

The Sri Lanka Tourism Development Authority (SLTDA) is now fully geared to issue renewals for accommodation and service providers in one day when the relevant documents for each category are submitted, a statement issued by the SLTDA yesterday stated

Sri Lanka Telecom (SLT) to partner with Huawei to take up on the Smart City project at Colombo Port City with an aim to position Colombo Port City as Southeast Asia’s premier smart city.

The Board of Investment (BOI) has approved an estimated US $ 5.1 billion worth of new investment projects in the first quarter of this year, including a steel plant project to be set up in Trincomalee, with an investment of US $ 1 billion, the latest

Sri Lanka’s premier business association, the Ceylon Chamber of Commerce (CCC), yesterday reached its 180-year mark, a milestone that was commemorated with a bell ringing ceremony at the Colombo Stock Exchange (CSE).

The government is to introduce the Ruhuna Economic Development Corporation Law soon, which it claims would be applicable to the trade zone in Hambantota.

Hatton National Bank (HNB), Sri Lanka’s second largest private lender by assets recently called on the government to re-evaluate the “unsustainable” high tax regime on the banking sector as it limits the sector’s ability to support other indu

Sri Lanka’s banks managed to overcome in what could become a thorny issue on their capital coming from the first time impact of the new accounting standard on loan loss expenses as the companies built up buffers in the run up to the full implementa

REUTERS (Hambantota): Oman’s oil minister said yesterday he was excited to be part of a Sri Lanka oil refinery project, an indication plans for the sultanate’s involvement may be back on track. The comments by Mohammed bin Hamad al-Rumhy came af

The Development Strategies and International Trade Ministry and the Finance Ministry together will set up a Trade and Productivity Commission (TPC) within next three months to continue with the trade liberalisation process on a structured basis, whil

Sri Lanka missed the opportunity to place the country as a destination for digital innovation with Google Loon project in Sri Lanka, as the Telecommunications Regulatory Commission of Sri Lanka (TRCSL) failed to provide the required spectrum for the

Minister of Industry & Commerce Rishad Bathiudeen said recently that neither the government nor this Ministry has approved the transfer of the profitable Pulmoddai mineral sand deposits. “As we celebrate the 61 year anniversary of Lanka

China’s Export-Import Bank (EXIM Bank) has approved US $ 989 million concessional loan for the Central Expressway Section 1 from Kadawatha to Meerigama. The Finance Ministry said t

The Chamber of Construction Industry Sri Lanka opened the international housing and construction exhibition - ‘Build SL 2019’ for the 15th consecutive year at the BMICH yesterday. The German Chamber of Industry and Commerce has collaborated with

SAN FRANCISCO (AFP) - Tesla chief Elon Musk on Thursday urged workers to make helping with the “biggest wave” of deliveries in the electric car maker’s history their top priority, Business Insider reported. The news website posted a copy of an

The Hindu:A Singapore-based company in which stakes are held by the family members of former Union Minister of State S. Jagathrakshakan of the DMK has been linked to a record foreign direct investment of US$3.85 billion in an oil refin

COLOMBO (Reuters) - Sri Lankan shares fell for the fifth straight session yesterday and posted their lowest close in more than six years, dragged by telecom stocks, but foreign investors’ buying capped the decline. The market now awaits cues from