Fitch Ratings has revised the National Long-Term Rating of National Savings Bank (NSB) to ‘AA+(lka)’, from ‘AAA(lka)’. The Outlook is Stable.

The Board of Investment (BOI) of Sri Lanka recently signed an agreement with ARD Aluminium (Pvt.) Ltd to set up a US $ 1.7 million factory to manufacture aluminium food containers with lids and aluminium home foil wrap for food.

Sampath Bank PLC suffered a decline in profits during the three months ended December 31, 2018 (4Q18) as the lender became a casualty of the general weakening of banking sector asset quality and the first time adoption of a new accounting standard re

Sri Lanka’s red clay roofing tile industry recently urged the government to reduce excessive regulations and procedures in place with regard to sourcing their main raw material—clay— which has hiked the cost production, driving ov

Dialog Axiata PLC’s December quarter (4Q18) profits were hurt by the continued translational losses stemming from its dollar borrowings and the one-off cost made on group-wide business process re-engineering exercise towards digital technology. Acc

Sales slowed at Sri Lanka’s monopoly cigarette player, Ceylon Tobacco PLC (CTC), during the December quarter (4Q18), as CTC had to jack up prices of some of its products, as a result

Sri Lanka having reached the advanced stage of a demographic transition, where it now has a fast-growing ageing population, will require increased focus to cater to that group as current measures by the government remain inadequate. Highlighting Sri

Attempts are said to be underway to thwart a move to establish Sri Lanka’s first shipping and logistics industry chamber under the name National Chamber of Shipping of Sri Lanka, Mirr

SYDNEY (AFP) - Australia said yesterday a long-awaited trade deal with Indonesia will be signed in March, following months of diplomatic tension over Canberra's contentious plan to move its embassy to Jerusalem. 

Prime Minister Ranil Wickremesinghe said step would be taken to develop a vibrant economic hub around the Kankesanthurai harbour that would be transformed into a commercial port with Indian assistance.

NEW YORK (AFP) - A US Commerce Department report has concluded that American auto imports threaten national security, setting the stage for possible tariffs by the White House, two people familiar with the matter said this week. The investigation, or

HONG KONG (AFP) - Asian stocks retreated yesterday as the US hailed "productive" trade talks in Beijing despite earlier reports suggesting an impasse, while Wall Street was hit by weak US retail sales. Bourses across the region were already

(Colombo) REUTERS: Sri Lanka's rupee ended weaker yesterday, as dollar demand from importers weighed on the currency, market sources said.  The stock market also closed weaker at a near four-month low, as foreign investors sold the island na

BEIJING (AFP) - Alibaba has bought an eight percent stake in Chinese online video sharing and entertainment service Bilibili for an undisclosed  amount, state news agency Xinhua reported. 

 KUALA LUMPUR (AFP) - An ex-Goldman Sachs banker accused of involvement in the multi-billion-dollar 1MDB scandal has agreed to be extradited from Malaysia to the United States to face charges, his lawyers said yesterday.

The Central Bank suspended the troubled non-banking financial institution The Finance Company (TFC) from taking new deposits and issuing loans with effects from yesterday (15th) as the losses at TFC continued to expand, amplifying the firm’s al

Two private sector tourism leaders, who had been caught up in a legal battle for over two years initiated by the Financial Crimes Investigation Division (FCID), yesterday called for law 

The World Bank yesterday tipped Sri Lanka as one of the stronger economies in the South Asian region, but asserted the country is yet to reach its full potential, and will struggle to do s

Hutchison Telecommunications Lanka (Pvt) Ltd (Hutch) signed a supplementary agreement with the Board of Investments (BOI) to invest US $ 115 million to roll out its islandwide 4G network and supp

Profits at Melstacorp PLC remained flat during the quarter ended December 31, 2018 (3Q19) compared to the same period a year ago, as the diversified conglomerate which houses the country’s largest spirits maker is facing prolonged challenges in

Sri Lanka’s tea exports to China surpassed the 10 million kgs mark in 2018 for the first time in history, reaching an all-time high of 10.02 million kgs. However, the growth of tea exports to China slowed down to 1.2 percent last year from a re

(Colombo) REUTERS:  Sri Lanka’s rupee ended tad weaker yesterday led by higher importer dollar demand, market sources said.  The stock market closed steady in dull trade, but foreign investors bought into the island nation’s ris

In  a recent interview done with one of the key industry opinion leaders, The Director/ Group CEO of Overseas Realty (Ceylon) PLC Mr. Pravir Samarasinghe shared his views regarding the boom in Sri Lanka’s Apartment and Construction Indus