The director board of Commercial Bank of Ceylon PLC yesterday revealed plans to raise up to Rs.15 billion though a Basel III compliant listed debt issue, subject to necessary regulatory and shareholder approvals.

The State-run Bank of Ceylon (BOC) yesterday announced the resignation of its Chairman and four other directors following the change in government. The directors who announced their resignations were: Neil Umagiliya (Chairman) and the Non-Executive D

Sri Lanka’s economy was estimated to have grown 2.9 percent in the third quarter of this year (3Q18) following the expansion of all three major activities of the economy—agriculture, industry and services, according to the Census and Stat

Hayleys Advantis Limited ceremonially unveiled Sri Lanka’s largest distribution hub – Advantis 3PL Plus Logistics City – in Kotugoda, Ja-Ela recently. 

South Asia Gateway Terminals (Pvt.) Ltd (SAGT), Sri Lanka’s first public-private partnership, a flagship venture of the Board of Investment, today achieved an impressive two million 20-foot equivalent container units (TEUs) in a calendar year,

(Colombo) REUTERS: The Sri Lankan rupee ended weaker yesterday amid pressure on the currency due to foreign outflows from bonds and stocks as uncertainty from a political crisis dented sentiment.  

LeapFrog Investments, a US-based private investment firm that invests in high-growth financial services and healthcare companies in emerging markets, yesterday bought a 19 percent stake in Sri Lanka’s Softlogic Life Insurance PLC, investing US

Kamal, a construction labourer living on-site in Colombo, finds it difficult to make ends meet with his daily wage of Rs.1,500. On the other hand, Hong Chua, a Chinese construction worker in Colombo, who works 10 hours a day, says, “We are paid

Sri Lanka’s economy was estimated to have grown 2.9 percent in the third quarter of this year (3Q18) following the expansion of all three major activities of the economy—agricultu

Sri Lankan astronomy enthusiasts will have a rare opportunity to observe a comet in the eastern sky soon after sunset in the constellation of Taurus these days. The comet 46P/Wirtanen, a space rock which is only 1.2 kilometres in diameter was first o

The indices at the Colombo Stock Exchange (CSE) closed in the red territory yesterday as the country awaits for the appointment of a fresh Cabinet of ministers following the appointment of Ranil Wickremesinghe as the Prime Minister last Sunday after

The Court of Appeal issued notice and fixed for support on January 31, 2019 for an interim order in respect of a writ petition, which alleged that awarding of the tender for the provision of luggage wrapping services at the departure check-in area of

Sri Lanka’s Central Depository Systems (Pvt) Ltd (CDS) and China Securities Depository and Clearing Corporation Limited (CSDC) recently committed towards pursuing a cooperative relationship in the areas of securities clearing and depository.&nb

A customer likes to view, feel, look for alternatives, check the prices and at times bargain before buying a product. Sadly not so, when we buy utility services, particularly electricity and water supply. These, as the economists call, are ‘nat

“It is better to be feared than loved, if you cannot be both.” -Niccolo Machiavelli, Prince 1532 St. Augustine’s ‘City of God’ was perhaps the book Maithripala Sirisena was following since the beginning of his presidency

Sri Lanka’s apparel industry has revised this year’s export target to US $ 5 billion from the earlier target of US $ 5.5 billion, amid the October apparel export earnings declining by marginal one percent year-on-year (YoY) to US $ 403 mi

(Colombo) REUTERS: The Sri Lankan rupee strengthened yesterday while bond yields dropped as a seven-week political crisis appeared to ebb after President Maithripala Sirisena reinstated the premier he had initially sacked in a widely criticised move.

Iconic integrated development Cinnamon Life recently completed the structure of the ‘Suites Tower’, which comprises of 39 floors. A topping off ceremony was held on site to celebrate this key milestone.  

The Delegation of the European Union (EU) in a statement yesterday welcomed the peaceful and democratic resolution of the political crisis in accordance with Sri Lanka’s constitution.

The World Health Organisation (WHO) yesterday commended stronger tobacco control measures being adopted by Thailand, which has become the first in Asia and the first low and middle-income country to adopt plain packaging for tobacco products.  

(Bangkok) REUTERS: Catriona Gray from the Philippines was crowned Miss Universe yesterday, the fourth time the Southeast Asian country has won the international beauty pageant.

Sales in Sri Lanka’s residential condominium sector have experienced a slowdown due to the general uncertainty in the country, devaluation of the rupee and high cost of financing.  Speaking to Mirror Business, KPMG Principal Deal A

Dialog Axiata has become the first provider in Sri Lanka to be granted certification under the GSMA’s Mobile Money Certification initiative.  Through its premier mobile payment Network, eZ Cash, Dialog Axiata is amongst first seven mobile

(Washington) AFP: The US Federal Reserve is likely to raise interest rates in the coming week but policymakers have begun to signal they may take it a bit slower in 2019.

Sri Lanka’s Purchasing Managers Index (PMI) fell in November mainly due to the slowdown in new orders in textile and wearing apparels while the heightened political crisis soured the expectations in the services sector.  Accordingly, the m

(Colombo) AFP: Former Maldives president Abdulla Yameen is under investigation for corruption, police said yesterday, after a court ordered accounts holding US$ 6.5 million to be frozen.

(Colombo) REUTERS: Ranil Wickremesinghe was sworn in as Sri Lanka’s Prime Minister yesterday, making remarkable comeback weeks after being ousted by President Maithripala Sirisena under controversial circumstances. Wickremesinghe’s reinst

The Sri Lankan rupee ended weaker yesterday amid pressure on the currency due to foreign outflows from bonds and stocks as uncertainty from a lingering political crisis weighed on sentiment.  

FRANKFURT AM MAIN (AFP) - Many among the more than one million people who arrived in Germany as migrants or refugees since 2015 are integrating speedily through work, the head of a key business group said yesterday.  

HONG KONG (AFP) - Asian markets fell yesterday, putting the region on course to end a broadly positive week on a sour note, as traders took a step back and their profits off the table.