LISBON (AFP) - Social networks need better regulation to stop them spreading “fake news” and undermining democracy, disillusioned tech pioneers said at an industry conference that closed in Lisbon Thursday. The issue has come to the fore

COLOMBO (AFP) - The European Union joined a chorus of international voices demanding an end to Sri Lanka’s two-week-old political crisis yesterday, saying the island nation’s international reputation and investments were at risk. Presiden

WASHINGTON (AFP) - The United States this week announced sanctions against three people and nine entities over Russia’s intervention in Ukraine, including for doing business in annexed Crimea.

PARIS (AFP) - The French civil aviation authority said yesterday it had seized a Ryanair plane to get the Irish low-cost airline to repay illegal public aid, the latest in a string of troubles for the carrier.  The EU Commission in 2014 rul

NEW DELHI (AFP) - India’s government is to sell more than US$400 million worth of shares left behind by people who fled to Pakistan or China after wars with those countries.

The Tax Appeals Commission (TAC), which had been inactive for some time, has been revived, the Finance Ministry said yesterday. A Finance Ministry statement said the new Prime Minister and Minister of Finance Mahinda Rajapaksa had reappointed Justice

The Central Bank yesterday said the seventh monetary policy for this year will be announced on November 14th at 7.30 a.m. This is the first monetary policy that wo

Sri Lanka Institute of Directors (SLID) in a brief statement yesterday expressed their grave concern on the current political situation and stressed it negatively affects the country’s businesses and international reputation.  

(Colombo) REUTERS: The Sri Lankan rupee ended weaker yesterday as outflows from government securities and stocks due to political uncertainty raised dollar demand.

Hayleys group’s coconut-shell based activated carbon manufacturer, Haycarb PLC recorded improved earnings for the September quarter (2Q19) as the group was able to significantly improve its 

Cargills Bank Limited (CBL) failed to maintain its growth momentum during the quarter ended September 30, 2018 (3Q18) as growth in new loans stalled and some sizable deposits left the bank, the interim financial accounts showed.

Tourist arrivals to Sri Lanka in the month of October increased only 0.5 percent year-on-year (YoY) to 153, 123 with arrivals from several key regions declining, data released by the Sri Lanka Tourism Development Authority showed. Asia and Pacific co

The government is looking to revise the tariff charges upwards for the services provided at the Colombo port, Cabinet Spokesperson and Ports and Shipping Minister Mahinda Samarasinghe said.  

On the night of October 26, most Sri Lankans were taken by surprise when President Maithripala Sirisena named his former leader and later political foe Mahinda Rajapakse as Prime Minister.   

A hefty tax reversal on account of deferred tax asset boosted Union Assurance PLC’s bottom line for the quarter ended in September but the general business also performed better than a year earlier with both gross premiums and operating profits

(Colombo) REUTERS: The Sri Lankan rupee ended weaker yesterday as outflows from government securities and stocks due to political uncertainty raised dollar demand.

Droughts, floods, landslides, and cyclones have frequented the Sri Lankan newspapers in 2018.   

The Central Bank of Sri Lanka (CBSL) yesterday said despite the media reports on increased money printing to help finance the government’s fiscal commitments, the monetary authority is well within its projections for this year, in terms of expa

Colombo’s booming real estate market risks turning Sri Lanka’s capital city into a “ghost town” as there may not be an effective demand to satisfy the increase in supply as many developers and policymakers are reluctant to uti

The subdued macro environment and higher costs relating to expansions and refurbishments affected the performance of the premier blue chip John Keells Holdings PLC’s (JKH) September quarter (2Q19), although the higher interest income and a tax

The Hambantota International Port Group (HIPG) has invested further to develop Hambantota International Port’s operations. HIPG in a statement said it invested over US$ 600, 000 for the purchase of 40-foot Ro-Ro trailers with goosenecks (to all

The board of directors of Singhe Hospitals PLC is to issue little over 33 million shares or 7.67 percent of the hospital firm to its Chairman/CEO A.M. Weerasighe via a private placement in lieu of a repayment of a loan Weerasinghe has granted to the

Sri Lanka’s stock market stakeholders expect the bourse to stagnate for the next few days amid accelerated foreign outflows due to the prevailing political uncertainty, and are of the view that a majority government would be critical to retain

Sri Lanka expects to lure in high spending Swiss tourists as the country recently took part in the Swiss International Holiday Exhibition known as ‘iViaggiatori’.  iViaggiatori is the prestigiou

Moody’s Investors Service has placed Sri Lanka among the countries in the world with the largest fall in value of their currencies against the US dollar in 2018, and stressed that the implementation of reforms that address both fiscal and exte

Jetwing Symphony PLC registered a strong growth in revenues and operating profit for the July-September quarter (2Q19)—an indication that the hotel chain catering to a niche luxury market is being well received by the traveller, both local and

DFCC Bank PLC registered some solid performance in core banking for the September quarter (3Q18), but showed clear slowdown in new loans during the period while quality of some of the assets weake

United National Party (UNP) parliamentarian Eran Wickramaratne recently urged Sri Lankan professionals to play an active role in governance to nudge the country into the right direction, stressing that the business of the government is also the bus

The new brand identity and the tagline of Sri Lanka tourism ‘So Sri Lanka’ will be launched at 10.30 a.m. (UK time) today along with the launch of World Travel Market (WTM) in London, government sources told Mirror Business.  The gov

Sri Lanka needs to review the existing social security and pension schemes and convert it to one system to encourage employees to save, as only 45-50 percent of labourers are covered by the current