(Washington) AFP: The United States will allow eight countries to continue importing Iranian oil but only at much lower levels after the reimposition of sanctions today, Secretary of State Mike Pompeo said. The US Treasury will also demand the SWIFT

e-commerce company, Daraz, is bringing 11.11, the ‘World’s Biggest Sale Day’, to Sri Lanka for the first time. 

(Colombo) REUTERS: The European Union will consider stripping Sri Lanka of its duty-free access if it backs off commitments on rights, the EU ambassador said, amid worries stoked by the President’s replacing of the elected premier by a wartime

HONG KONG (AFP) - Asian markets enjoyed another rally yesterday after Donald Trump hailed positive talks with Chinese President Xi Jinping and a report said he had asked officials to draw up a draft bill as he eyes a potential trade deal between the

(BEIJING) REUTERS: China promised to support Pakistan’s economy on Friday as new Pakistani Prime Minister Imran Khan told of his country’s “very difficult” economic situation amid a burgeoning financial crisis. Pakistan’

BLOOMBERG: Shemara Wikramanayake will inherit an investment bank firing on all cylinders when she takes charge of Macquarie Group Ltd. next month. The Sydney-based company yest

Singer Sri Lanka yesterday announced the appointment of Mahesh Wijewardene an Executive Director/CEO with effect from November 1, 2018. Wijewardene 

SHANGHAI (AFP) - European ambassadors and foreign business lobbies are calling on China to introduce “bold” and concrete market reforms at a Shanghai trade fair next week that the g

COLOMBO (REUTERS) - The Sri Lankan rupee ended slightly weaker yesterday due to dollar demand for outflows in government securities and stock-related transactions, sources said. 

Hayleys Global Beverages (Pvt) Ltd (HGBL), a unit of diversified conglomerate Hayleys PLC yesterday announced a joint venture partnership with Germany’s botanicals giant Martin Bauer Group (BMG). Established in 2016, HGBL is a leading manufactu

Rising funding costs, hefty credit costs and slowdown in new loans dented Nations Trust Bank PLC’s (NTB) September performance as the mid-size lender wasn’t spared from the recent headwinds experienced by the industry.  NTB reported

Prime Minister Mahinda Rajapaksa in the capacity of Finance and Economic Affairs Minister has given directions to the Finance Ministry to implement a number of initiatives to revive the country’s economy. Following are the full details of the m

Sri Lanka’s overall liabilities and available assets are still unknown due to the poor maintenance of public accounts by accountants, the country’s top auditor said. “The government is ha

Former State minister and economist Dr.Harsha de Silva yesterday said the recent surge in the country’s stock market is due to “pumping and dumping done by a few hands who are controlling the market.”

Sri Lanka’s apparel export earnings grew 9.2 percent year-on-year (YoY) to US $ 451 million in September—the second highest growth rate recorded so far for this year backed by a dou

Teejay Lanka PLC reported some solid top and bottom line growth for the three months ended September 30, 2018, despite the challenges from the still high cotton yarn prices, as the weft knit fabric maker could expand capacity on a strong order book,

The Central Bank of Sri Lanka yesterday assured the investors that Sri Lanka would meet the maturing international sovereign bond (ISB) obligations worth of US $ 1.5 in January and April next year, despite the current  political crisis. 

 National Development Bank PLC (NDB) plowed ahead beating the odds in a slow-moving economy as the bank recorded some solid growth in new loans and reported strong top and bottom line performances for the September quarter (3Q18), the interim fi

“We must not return to the age of great power rivalries. Asia in rivalry will hold us back; Asia in cooperation will shape the century,” said Deputy National Security Adviser of India Pankaj Saran, at The Indian Ocean: Defining our Future

(Colombo) REUTERS: The Sri Lankan rupee dropped 0.51 percent to a record low yesterday, dented by political uncertainty. Stocks slipped from   

The Central Bank of Sri Lanka this week released its half yearly publication titeld: “Recent Economic Developments: Highlights of 2018 and Prospects for 2019”.    

By According to Article 3 of our Constitution, sovereignty is in the people. In terms of Article 30(2) of the 19th Amendment, the president is elected by the people of the entire country. The president is the Head of the state, head of the government

Assuming duties as the Finance and Economic Affairs Minister yesterday, Prime Minister Mahinda Rajapaksa hinted towards his plans to return Sri Lanka to the inward-looking economy that he had built during his presidency from 2005 to 2014. While ack

Fitch Ratings yesterday said the current political standoff triggered by the appointment of former President Mahinda Rajapaksa as the new Prime Minister has raised uncertainty over the con

Sri Lanka is warned of reduced investor interest and increased capital outflows, leading to more pressure on rupee and raising financing costs amid the current fractious political environment.

Sri Lanka’s lubricant market leader Chevron Lubricants Lanka PLC saw its earnings for the September quarter (3Q18) falling 21 percent year-on-year (YoY) to Rs.516.4 million with tepid growth in sales, the interim financial accounts released to

The National Development Bank PLC (NDB) plowed ahead beating the odds in a slow moving economy as the bank recorded some solid growth in new loans and reported strong top and bottom line performances for the September quarter (3Q18), the interim fin

(Colombo/Mumbai) REUTERS: A decision by Sri Lanka’s President to fire the Prime Minister has raised doubts among global investors and credit analysts about the near-term economic health of a 

The apartments in Colombo are witnessing lacklustre sales despite an increase in ‘branded’ properties due to the developers and investors failing to capture the unique requirements of the locals in the design concept, a top architect said

Nestlé Lanka yesterday announced that its local operations will be taken over by Fabrice Cavallin, currently Regional Business Head Infant Nutrition for South Asia, effective January 1, 2019.