The government will be looking at further relaxing the rules pertaining to repatriation of export earnings to facilitate the country’s exporters, said the former Export Development Board (EDB) Chairperson and Chief Executive Officer Indira Malw

(Colombo) REUTERS: Sri Lanka’s rupee closed slightly weaker yesterday due to dollar demand from importers and state banks, while investors remained cautious over debt repayment by the government.   

Development Strategies and International Trade Minister Malik Samarawickrama plans to appoint a new free trade agreement (FTA) negotiation team shortly with the approval of the Cabinet of Ministers, a top ministry official told Mirror Business. 

DFCC Bank PLC yesterday announced a rights issue to bolster its capital base, in view of supporting its growth projections, the bank said in a stock exchange filing.   

The losses at the national carrier, SriLankan Airlines, widened during the nine months ended December 31, 2018, despite the gains at the top line level, due to currency depreciation and higher oil prices, the airline said yesterday in a statement.&

Sri Lanka’s countrywide headline inflation, measured by the year-on-year change in the National Consumer Price Index (NCPI), decelerated to 0.4 percent in December 2018, from 1.0 percent a month ago, the da

(Colombo) REUTERS: Sri Lanka’s rupee closed weaker yesterday due to dollar demand from importers, while stocks fell to an eight-week closing low amid concerns over debt repayment by the government. The rupee closed at 18

China holds approximately 9 percent of Sri Lanka’s total outstanding debt as of 2017 and 14 percent amongst bilateral lenders – equivalent to the same share held by neighbouring India. Despite this, Sri Lanka’s engagement with China

A recent study by the academics of the University of Kelaniya and Open University of Sri Lanka estimates that Sri Lanka lost Rs.18 billion in tax money due to contraband cigarettes in 2018. The law enforcement authorities have seized over 580 million

 Hayleys Fabric PLC, the knit fabric maker of Hayleys group, reported solid performance for the three months ended December 31, 2018 (3Q19) as the company extended its positive earnings for the third quarter in a row supported by a strong top li

Keells Food Products PLC (KFP), the processed food maker of John Keells group, reported lower profits for the quarter ended December 31, 2018 (3Q19) amid weak consumer sentiment and difficult operating conditions.

Sri Lanka needs to focus on improving productivity, health and saving capacity of its current workforce in order to earn a second demographic dividend driven by its ‘Silver Economy’, a t

TRADE ARABIA: Sri Lanka-based JLanka International, a premier solar and renewable energy technology solutions provider, has announced an investment of up to US $10 million within the coming five years in Bahrain’s renewable energy sector. Comme

For low-lying island states, the impacts of global warming and climate change can be a matter of survival. The irony is that while these states have not contributed much to greenhouse emissions, as they produce very little, they may face some of the

(Colombo) REUTERS: Sri Lanka’s rupee closed slightly weaker yesterday, snapping two straight sessions of gains, due to dollar demand from banks and importers.   

Bloomberg: Real interest rates in South Asia are among the highest in the world, raising the prospect of more dovish monetary policy in the region.  

The troubled construction firm, MTD Walkers PLC, has transferred three of its subsidiaries to its Malaysian parent, MTD Capital Berhard, for a purchase consideration of little over US $ 19 million, to settle a debt payable by one of its subsidiaries.

In the new year, Sri Lanka remains at a crossroads. As before, the island nation requires carefully calibrated statecraft from policymakers to choose the path towards prosperity. The political, constitutional and parliamentary crisis over the last mo

(Geneva) REUTERS: Global foreign direct investment (FDI) fell 19 percent last year to an estimated US $ 1.2 trillion, largely caused by US President Donald Trump’s tax reforms, the United Nations trade and development agency UNCTAD said yesterd

Fitch-rated frontier markets saw more positive than negative sovereign rating actions in 2018, partly due to higher commodity prices, although the rating agency cut Sri Lanka’s sovereign rating over political uncertainty in December.  &nbs

A new procurement and regulatory entity is to be established within next three to six months to conduct land sales, handle regulation and development activities of Colombo Port City (CPC), a top government official told Mirror Business.  

Tea Smallholder Factories PLC has returned to the black during the December quarter (3Q19), as the company saw its earnings for the period rising 47 percent year-on-year (YoY) to Rs.13.7 million, thanks to a Rs.8.9 million tax reversal. The earnings

Tourism earnings are estimated to have risen 11.6 percent year-on-year to US $ 4.4 billion in 2018, according a press release issued by Sri Lanka Tourism Development Authority (SLTDA)  on Friday.

Sri Lanka Telecom (SLT) last week announced a new leadership team with the appointment of Kiththi Perera as the Chief Executive Officer (CEO) and B.P. Fernandez as the Chief Operating Officer (COO) with effect from January 1, 2019.  

(New Delhi) REUTERS: The State Bank of India (SBI)-led consortium of lenders is waiting for India’s capital markets regulator to decide on a bailout offer by Etihad Airways for the financially stressed Jet Airways, SBI Chairman Rajnish Kumar sa

The Colombo Port City (CPC) will attract foreign banks to set up their operations in Sri Lanka, paving the way for the country’s banking sector’s asset base to more than double to Rs.30 tril

Sri Lanka is set to face higher demand for housing, health, food, education, employment, energy, water, transportation and infrastructure amid unexpected growth in population driven by a significant upturn in recent fertility rates and anticipated in

Sri Lanka’s premier and largest education exhibition and job fair “EDEX Expo” opened at the BMICH yesterday. Minister of City Planning, Water Supply and Higher Education Rauff Hakeem ceremoniously declared the event open as Chief Gu

In response to an exposure by one of their trade unions recently, SriLankan Airlines yesterday said an Airbus A330-200 4R ALS acquired by the previous management, which is