The Plantations Human Development Trust (PHDT) in a statement yesterday said it completed housing and infrastructure development projects to the value of Rs. 2 billion in 2018, as compared with Rs.1.4 billion in 2017.  Comprised of a tripartite

Sri Lanka needs to develop its own narrative of China’s Belt and Road Initiative (BRI), which is neither over-shadowed by reports from Western media nor reports circulated from China, wh

Sri Lanka, in its commitment to creating an inclusive economy must apply more focused efforts towards gender responsive budgeting, according to United Nations Women (UNW), 

ECONOMYNEXT: Sri Lanka’s Finance Ministry had allocated Rs.5 billion to purchase rice at guaranteed prices from farmers ahead of the upcoming major harvest season, the government said.

The Colombo Port has embarked on a major infrastructure drive as the Sri Lanka Ports Authority (SLPA) is set to receive fourteen new terminal tractors that will substantially increase the efficiency of the country’s busiest port. 

The newly appointed Chairman of the Sri Lanka Tourism Promotion Bureau (SLTPB) and Sri Lanka Tourism Development Authority (SLTDA), Kishu Gomes yesterday promised to bring in a minimum of three million tourists to the island this year, capitalising o

Albert Edirisinghe Opticians Ltd, one of Sri Lanka’s leaders in the optometric services segment, recently hosted an event to celebrate its 70th anniversary at the premises of its newly relaunched Colpetty branch. The event was attended 

Priyantha Kariyapperuma has been appointed as the Vice Chairman of Airport and Aviation Services Ltd. by Civil Aviation and Transport Minister Arjuna Ranatunga. Priyantha previously has held a host of positions in the public sector. He was a former D

FRANKFURT AM MAIN (AFP) -  Germany’s trade surplus narrowed last year compared with 2017, official data showed yesterday, with trade wars making themselves felt even as both imports and exports hit record highs. Europe’s powerhouse e

HONG KONG (AFP) - Asian stocks fell yesterday following losses on Wall Street as fresh doubts emerged over the prospects for US-China trade talks and global growth outlook. Tokyo led the slump, while H

COLOMBO (Reuters) - Sri Lanka’s rupee ended weaker yesterday as importers purchased U.S. dollars while releasing goods after a week-long strike by customs officers that left 6,000 containers stranded at the country’s main port was called

Finance and Mass Media Minister Mangala Samaraweera this week announced that a separate marine division will be set up at Sri Lanka Customs (SLC) to tackle narcotics entering Sri Lanka.

Weft knit fabric maker, Teejay Lanka PLC reported higher rupee profits for the quarter ended December 31, 2018 (3Q19), partly stemming from the rupee depreciation against the US dollar, but the bottom line in dollar terms—the group’s func

Sri Lanka’s banks have granted a record amount of loans and their growth also picked up pace during 2018 despite higher interest rates and non-performing loans—though the latter’s rise sho

The Securities and Exchange Commission of Sri Lanka (SEC) yesterday said they charged one Vidanalage Juvenal Aruna Melan Soysa at the Fort Magistrate’s Court on January 25, 201

Sri Lanka requires an immediate appointment of a tax ombudsman, asserted a leading lawyer in the country, as the need for such a post is felt now than ever before due to the changes in the income tax regime and the implementation of the Revenue Admin

Haycarb PLC, a manufacturer of coconut shell based activated carbon, reported strong performance for the quarter ended December 31, 2018 (3Q19) as the company boosted its revenue through raising prices of its products, although it faced some stiff co

The Sri Lanka Tourism Development Authority (SLTDA) is to develop master plans for sustainable tourism development activities in Kuchchaweli Beach Tourism Zone and Kalpitiya Tourism Z

(Colombo) REUTERS: A US $ 300 million loan offered by Bank of China to Sri Lanka is facing delays, government officials familiar with the negotiation told Reuters. The Indian Ocean island nation, a key battleground in the t

The Tourism Development, Wildlife and Christian Religious Affairs Ministry is preparing to present the detailed plan of  the long-delayed Rs.3 billion global promotion campaign to the Cabinet shortly

Finance and Mass Media Minister Mangala Samaraweera yesterday defended his earlier decision to appoint the retired navy official Rear Admiral Dr. Shemal Fernando as 

Finance and Mass Media Minister Mangala Samaraweera yesterday appointed acting heads for the two state banks—Bank of Ceylon (BOC) and People’s Bank. Treasury Senior Deputy Secretary A.R. Desapriya was appointed as Acting Chairman of BOC,

(Colombo) REUTERS: Sri Lanka’s rupee rose 0.3 percent yesterday due to exporter dollar sales, while a trade union action at customs dampened importer demand for the greenback. 

Chevron Lubricants Lanka PLC has been awarded two tenders to supply lubricants to the government’s electricity utility. The Cabinet of Ministers this week approved a proposal to award the contract of supplying 750,000 litres of cylinder lubrica

The final draft of the National Policy for Maritime and Logistics Sectors advocates Sri Lanka to continue with the status-quo of minimum 60 percent equity holding for locals in shipping agency companies as opposed to the 2018 budget proposal to liber

Food importers and wholesalers shut their shops in the capital city yesterday, demanding the government to resolve trade union action by Customs officials. Picture shows a labourer sleeping on a cart in a street in Pettah without any work. However, f

Sri Lanka celebrated its 71st year of independence from the British colonial rule on Monday. Despite the reservations we may have about the country’s post-independence journey so far and its despicable politics, freedom from subjugation to fore

The first ‘Sena attack’, carried out unwittingly and in good faith, began soon after the ‘Yahapalana’ government came into being in 2015 and under the much hyped slogan of Toxin-Free Nation. The second was the banning of glyph

Ceylon Guardian Investment Trust PLC (GUAR) and Ceylon Investment PLC (CINV) said yesterday that they are considering winding up the US$2.23 million Sri Lanka Fund incorporated in the Cayman Island, a tax haven. Both companies, subsidiaries of Carson