Sri Lanka’s overall computer literacy reported for 2017 was 28.6 percent, while the urban sector showed the highest computer literacy rate of 40.5 percent among residential sectors. 

(Colombo) REUTERS: The Sri Lankan rupee closed firmer yesterday as banks sold dollars due to month-end inward remittances, but the currency is still under pressure as investors continue to dump rupee-denominated assets on a credit rating downgrade an

(Mumbai) AFP: India’s economic growth slowed to 7.1 percent in the second quarter, official data showed yesterday, as its banks endure a liquidity crunch that is hampering investment in Asia’s third-largest economy.

(Colombo) REUTERS: Sri Lanka’s parliament yesterday voted to halt payment of ministers’ salaries and travel expenses, but it remained unclear how the move would impact the disputed government of Prime Minister Mahinda Rajapaksa whose mini

HONG KONG (AFP) - Asian markets mostly rose yesterday bringing a broadly upbeat week to a positive end as attention turns to the much-anticipated meeting between Donald Trump and Xi Jinping.

(Colombo) AFP: Sri Lanka’s parliament voted yesterday to block any spending by the Prime Minister’s office, further paralysing a government adrift from weeks of conflict as two rivals claim to run the country. The island has been in crisi

(Colombo) REUTERS: The Sri Lankan rupee closed marginally weaker yesterday as investors dumped rupee-denominated assets on a credit rating downgrade and a delay in an IMF loan discussion in the wake of a political crisis. 

(Colombo) REUTERS: Sri Lanka signed two multi-million dollar contracts with Chinese firms for a port upgrade project yesterday in the middle of a political hiatus that has raised doubts over the legitimacy of the government and the legality of the d

The Free Trade Zone Manufacturers’ Association (FTZMA), one of the largest manufacturing associations in Sri Lanka’s largest free trade zone in Katunayake yesterday said the current political crisis is having implications on the future or

Samsung says it retains the top spot in Sri Lanka’s smartphone market with a 43.84 percent market share as of October, despite the reports that Huawei has taken over the top spot in the first half of this year from Samsung.

Vehicle imports by Sri Lankans shot up while the fuel bill rose sharply in the month of September, expanding Sri Lanka’s trade deficit, and pushing the island nation currently embroil

India’s leading auto manufacturer Mahindra & Mahindra Ltd and Sri Lanka’s Ideal Group (Pvt.) Ltd plan to setup a component manufacturing centre to complement their plans to set up a vehicle assembly plant in Sri Lanka.  

Melstacorp PLC reported lower profits for the three months ended September 30, 2018 (2Q19), as the group incurred some hefty taxes while the cost surged against the same period, last year. The group’s alcoholic beverage (alcobev) segment’

Central Bank Governor Dr. Indrajit Coomaraswamy officially presented a new series of circulation coins with face value of Rs.10, Rs.5, Rs.2 and Rs.1 to Prime Minister and Finance and Economic Affairs Minister Mahinda Rajapaksa, this week. 

The super luxury passenger vessel MV Mein Schif 3 of TUI Cruises, with 2,430 passengers and 995 crew members on board, made her maiden call at the Port of Colombo, on Monday.   

National Development Bank PLC (NDB) yesterday said a strategic investor is currently carrying out a detailed evaluation of the bank as well as the current market conditions with a view to investing in the unsubscribed shares arising from the rights i

Announcing its expansion plans, China’s UnionPay International (UPI) said it would be issuing UnionPay debt and credit cards in Sri Lanka for the first time in the near future.  

(Colombo) REUTERS: The Sri Lankan rupee hit yet another record low against the dollar yesterday on continuing concerns about political uncertainty dragging down the island-nation’s economy, after a credit rating downgrade by Moody’s and t

New Zealand’s Fonterra Co-operative Group — for us Sri Lankans, the Anchor company — has gone through a remarkable transformational change in the face of certain issues they faced in some of the markets they operated several years a

The Pearl Grand Tower Hotel, which is to be managed by InterContinental Group of Hotels (IHG), recently saw the completion of the concrete structure work carried out by China State Construction Engi

The increased demand for animal feed, chicken and eggs during 2018 has propelled the revenues and profits of Ceylon Grain Elevators PLC, but the country’s largest poultry operator expects some challenging times with the weakening of the rupee a

(Colombo) REUTERS: The Sri Lankan rupee hit a record low for a fifth straight session yesterday, as investors dumped currency-denominated assets following a credit rating downgrade and a delay in an IMF loan discussion in the wake of a political cris

Speaker of Parliament, Karu Jayasuriya asserted that leaders who ensure the rule of law coupled with the right vision, dedication, commitment, discipline is critical for Sri Lanka to reach its full economic potential.  “What the country ne

The Central Bank yesterday assured the country’s financial services sector that it would not stand in the way of progress with its controls, but asserted it will closely monitor the proces

Sri Lankan apparel manufacturer Hela Clothing Group yesterday announced that it had secured a capital infusion of Rs.1.2 billion, by way of a mix of shareholder and new private equity investment funds from a private consortium, whose lead investor

The Rabobank of Netherlands has agreed to provide euro 52.1 million financial assistance to construct approximately 250 steel bridges islandwide, especially in the rural areas.   

More industry bodies are joining the chorus to urge the country’s political leadership to ensure stability and a swift solution to the current political stalemate situation to avert dire consequences to the country’s economy and its peopl

The turnaround at CIC Holdings PLC appears to be facing some tough challenges as the agricultural and industrial giant is still striving to plough ahead beating the headwinds faced by its multiple businesses, though its crop solutions business fared

The events that unfolded on October 26 have led the country towards an unprecedented chaos. Almost a month later, we are still awaiting a firm interpretation of the decisions and the credibility of actions while pondering if all the sudden changes ha

The BIMSTEC, officially known as the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation, held its first-ever military exercise in September 2018, in Pune, India. The transnational exercise aimed to boost inter-operability