The inauguration ceremony of Sri Lanka Retail Forum 2018, organised by the Sri Lanka Retailers’ Association (SLRA), took place last evening, with Prime Minister Ranil Wickremesi

The state-owned Ceylon Petroleum Corporation (CPC) plans to enter into a joint venture (JV) with Lanka IOC PLC (LIOC) to develop the unused 85 oil tanks in Trincomalee, while retaining their ownership.  

The Central Bank yesterday said Sri Lanka secured a US $ 1 billion foreign currency term financing facility from China Development Bank (CDB), at highly competitive interest rates.  

The Cabinet of Ministers on Tuesday decided to award the US $ 2 million contract to develop a new brand identity and strategy for Sri Lanka tourism to J. Walter Thompson (JWT) within a period of six months, a top minister told Mirror Business. 

The government has yet again failed to implement the vast majority of the budget promises, even with an ‘Implementation Unit’, which was supposed to have been established under the Finance and Mass Media Ministry, to specifically track th

Sri Lanka’s Finance Minister Mangala Samaraweera wrapped up the 2018 budget debate promising to end the country’s ‘nanny state’ approach and expressed his determination to press ahead with radical liberalization.   

The recent curbs on vehicle imports appear to have finally stemmed the flow of motor vehicles to the country, although a dramatic fall in motor car registrations is not expected, at least in the next couple of months, as unsold cars lying in yards an

Chinese private security companies (PSCs) are increasingly going global. Not so long ago they focussed mostly on providing bodyguard services for China’s rich and famous and guarding facilities in China. But now, China’s growing global fo

The two-year credit boom during 2015 and 2016 has failed to bring in desired long-term development outcomes as most of such credit had gone into unproductive segments of the economy, a recent research report by a leading Colombo-based equities broker

(Colombo) REUTERS: The Sri Lankan rupee ended 0.2 percent weaker yesterday as banks and importers bought the dollar while stocks ended a five-session losing streak, pulling away from previous session’s near five-year closing low. The rupee ende

The Cabinet of Ministers yesterday decided to award the US $2 million contract to develop a new brand identity and strategy for Sri Lanka tourism to J. Walter Thompson (JWT) within a period six months, a top Minister told Mirror Business. 

The Sri Lanka Chamber of Pharmaceutical Industry (SLCPI) yesterday announced the withdrawal of 11 drugs from the local market due to the price controls slapped by the government. The ph

The government has yet again failed to implement the vast majority of the budget promises, even with an ‘Implementation Unit’ which was supposed to have been established under the Finance and Mass Media Ministry to specifically track the

The banking sector earnings, which once looked almost immune to economic cycles, have indicated some signs of weakness in recent times, as the sector is facing multiple headwinds, which are putting its resilience to test.    

The Hotels’ Association of Sri Lanka (THASL), with a plan to develop more employment opportunities and foreign exchange earnings to the country, will hold its 53rd annual general meeting (AGM) at Shangri-La Hotel, tomorrow.  

(Colombo) REUTERS: The Sri Lankan rupee ended 0.7 percent weaker yesterday as banks and importers bought the dollar and as stocks declined for a fifth straight session, hitting a near five-year closing low on continued foreign fund outflow.  

The Central Bank yesterday said the procurement process for several forensic audits is underway on the Employees’ Provident Fund’s (EPF) investment in stocks and treasury bonds and operations of selected entities regulated and supervised

The Sri Lankan entrepreneurs lack crucial business skills to take new innovations to the market despite coming up with a large number of innovations and excelling in international competitions, a top academic pointed out. Moratuwa University’s

Sri Lanka’s Employees’ Provident Fund (EPF), a retirement fund of the private sector workers managed by the state, is about to re-enter the stock market, ending several years of inactivity, after it came under fire for being a dumping gro

The World Bank expects Sri Lanka economy to grow 3.9 percent this year and 4 percent in next two years, recovering from the weather disruptions, which negatively affected agriculture, last year.  

Three days before U.S. President Donald Trump took office in January 2017, Chinese President Xi Jinping portrayed Beijing as the champion and defender of globalisation at the Davos World Economic Forum amid rising fears of trade protectionism.  

In response to my article regarding the government and Central Bank abdicating their duty to support the rupee, the Central Bank, by its statement of October 10, 2018, has gone to embarrassing lengths to downplay its current inability to defend the r

The All Share Price Index (ASPI) decreased eight points or 0.14 percent to 5872 on Wednesday, October 10, from 5880 in the previous trading session and on Thursday, down to 5840. 

In their latest action to ease the pressure on the sliding rupee, the Central Bank has directed authorized dealers not to release foreign exchange, which involves conversion of rupees into foreign c

(Manila) REUTERS: The Philippines’ Finance Ministry said yesterday it was exploring a plan to sponsor a catastrophe bond issue, similar to the one launched by the World Bank early this year covering Latin American earthquakes.

The Plantation Industries Ministry together with the Coconut Cultivation Board (CCB) plan to employ the application of drone technology and an online coconut land registration to boost productivity and yield of the coconut plantation in the country.&

Sri Lanka’s apparel export earnings for the month of August rose 7.7 percent from a year ago to US $ 444 million amid a significant rise in export earnings from the United States.

Dutch development bank, FMO, recently arranged a US $ 50 million syndicated loan for Nations Trust Bank (NTB) to support the bank’s business banking activities, which have been geared more towards Small and Medium Enterprises (SMEs).

Sri Lanka was recently urged to explore its potential to position the country as a leading arbitration centre in the region, capitalising on the country’s strategic location and political neutrality, which would enhance foreign inflows to the c

The Invest Sri Lanka capital market road show organised by the Colombo Stock Exchange (CSE) in association with the Securities and Exchange Commission of Sri Lanka (SEC) concluded on a