Sweden-based leading enterprise software solution provider, IFS, is poised to increase its workforce by 23 percent in Sri Lanka this year as the firm is shifting a large chunk of its overseas support functions to Sri Lanka, betting on the country’s

Sri Lanka government’s efforts for fiscal consolidation will be challenging, given its ambitious revenue targets and election spending—which are difficult to do without—and their success will largely depend on policy effectiveness and faster ec

The Sri Lankan government yesterday signed a concessionary loan agreement with the Japan International Cooperation Agency (JICA) to borrow JPY 30,040 million (approx. Rs.48 billion) for engineering services and construction of a light rail transit (L

The Board of Investment (BOI) recently signed an agreement with the John Keells group subsidiary Logipark International (Pvt.) Ltd to construct, commission and operate a logistics centre to provide integrated logistic services, container freight stat

(Colombo) REUTERS: Sri Lankan shares ended at a 5-1/2-year low and the rupee fell yesterday as investors awaited a budget vote on Tuesday to assess the political stability of the government led by Prime Minister Ranil Wickremesinghe.

Echoing similar sentiments to that of Moody’s, Fitch Ratings Limited expressed doubts over the government’s ambitious fiscal consolidation agenda, which targets to shrink the budget deficit to 4.4 percent of GDP this year, from 5.3 percent in 201

Perhaps levelling the sharpest criticism so far against the Budget 2019 presented last week, a top economist and a commentator of socio-political issues charged that the budget lacks clear direction as it tries to be everything for everyone and its a

As National Development Bank (NDB) is set to achieve a systematically important domestic bank status this year, reaching Rs 500 billion in assets, the top officials of the bank expressed their confidence on meeting increased capital adequacy requirem

The Colombo Stock Exchange (CSE) is expected to sign a memorandum of understanding (MoU) with London Stock Exchange (LSE) shortly, to explore the possibilities of dual listing of Sri Lankan government’s foreign currency denominated debt.

Norway’s trillion dollar sovereign wealth fund, the world’s largest, managed by the Norwegian Central Bank, Norges Bank, had investments to the tune of US $ 98.3 million in Sri Lankan stocks by end of last year.

Sri Lanka’s tourist arrivals for the month of February rose 7 percent year-on-year (YoY) to 252, 033, with visitors from Europe accounting for over half of the arrivals, the data released by the Sri Lanka Tourism Development Authority (SLTDA) showe

Eric Le Corre, Corporate Vice President Public Affairs, Michelin and Nandita Khurana, Zone Head – Legal, Michelin, met Export Development Board (EDB) Chairperson/CEO recently to explore opportunities in the Sri Lankan tyre sector. French Ambassado

Frederick Wallace “Fred” Smith (born August 11, 1944) is the founder, Chairman and CEO of FedEx, originally known as Federal Express. The company is headquartered in Memphis, Tennessee.

The world’s leading travel and trade show, ITB opened in Berlin, Germany on Wednesday (6th) where Sri Lanka took center stage with the inauguration of its stand-out pavilion and country branding amidst much grandeur and fanfare.

Sri Lanka’s national consumer protection is to be led by an internationally accredited quality professional and a leading academic in management science. “With this appointment, we leverage your local and international experience for our consume

The budget proposal to give an increment of Rs.2, 500 to State sector employees is an interim measure, State Minister of Finance Eran Wickramaratne said yesterday. The State Minister

In recognition of International Women’s Day, SriLankan Airlines operated its first all female crew flight from Colombo to Singapore and return. UL306 of 8th March ’19 landed in Singapore carrying more than 170 passengers onboard.

COLOMBO (Reuters) - Sri Lankan shares fell to a near 5-1/2-year low yesterday as investors sold large cap stocks, outweighing purchases by foreigners. The Colombo Stock Exchange index settled 0.52 percent lower at 5,722.25, its lowest close since Se

HONG KONG (AFP) - Asian markets tanked and the euro struggled to recover yesterday as the European Central Bank’s decision to slash its growth and inflation forecasts added to increasing pessimism about the global outlook.

OSLO (AFP) - Norway’s sovereign wealth fund, the world’s biggest and which is fuelled by petrodollars, will dump stakes in oil and gas exploration and production companies to reduce its exposure to black gold, the government said yesterday. While

(Hong Kong / Colombo) REUTERS: Sri Lanka sold US$ 2.4 billion in five-year and 10-year U.S. dollar-denominated bonds yesterday, according to a term sheet seen by Reuters, successfully tapping the international markets at a time the country is facing

Sri Lanka sold $2.4 billion in five-year and 10-year U.S. dollar-denominated bonds on Friday, according to a term sheet seen by Reuters, successfully tapping the international markets at a time the country is facing strains on its finances.

Women in the country’s workforce were paid a tribute at the Colombo Stock Exchange (CSE) yesterday with the traditional ringing of the trading bell—a gesture by the corporate Sri Lanka to celebrate the Inte

Doubts were cast during a budget forum yesterday on the government’s ability to honour interest payments stemming from its much touted ‘Enterprise Sri Lanka’ subsidy loan scheme to the country’s banking sector,

The International Chamber of Commerce Sri Lanka (ICCSL) yesterday in a statement congratulated the government for maintaining policy consistency and continuing on its economic reforms agenda in the Budget 2019 presented on Tuesday. ICCSL Chairman Din

The proposed luxury tax on vehicles will hinder the government’s ambitious target of collecting Rs.48 billion in revenue from duties, as the proposed tax would lead to drastic decline in vehicle imports to the country,

(Hong Kong) REUTERS: Sri Lanka launched the sale of U.S. dollar-denominated bonds yesterday and orders topped US$3 billion, according to a term sheet seen by Reuters. It was not immediately cl

Tourist arrivals to Sri Lanka during February rose 7 percent year-on-year (YoY) to 252, 033, Sri Lanka Tourism Development Authority said in a brief note. In February last year, 235,618 tourists visited Sri Lanka.

The Tea Exporters Association (TEA) yesterday said the proposals in Budget 2019 were “somewhat below the expectations of tea exporters”. “The reduction of the Economic Service Charge from 0.50 percent to 0.25 percent would certainly benefit the

Sri Lanka’s dull urbanisation rate, estimated by the United Nations, is to be at 18-18.2 percent, while the country’s Megapolis Ministry claims it to be at 42 percent, according to Indocean Developers (Pvt.) Ltd Director Pradeep Moraes. The real