SYDNEY (AFP) - Tech billionaire Mike Cannon-Brookes has bought a Sydney waterfront mansion for a reported Aus$100 million (US$72 million), media said Thursday, eclipsing th

Sri Lanka has missed two key International Monetary Fund (IMF) targets set for June end as part of her three-year bail out money, but the missed targets are unlikely to derail the stabilization programme as talks will continue between the p

Fitch Ratings Lanka Limited has assigned Serendib Finance Limited a national long-term rating of ‘A+(lka)’. The Outlook is Stable.   Serendib’s rating is driven by Fitch’s view that support would be forthcoming from

HONG KONG (AFP) - Asian markets rose yesterday, tracking a rally on Wall Street where investors were buoyed by the Federal Reserve’s positive outlook for the US economy, and oil added to gains with predictions it could be headed back to US $100

The Central Bank is in negotiation with a new foreign investor to restructure the troubled ETI Finance Limited (ETIFL) who may invest up to US $75 million in the troubled finance company, Mirror Business learns. 

The Asian Development Bank (ADB) yesterday downgraded Sri Lanka’s economic growth forecast for both 2018 and 2019 as weaker domestic demand, investment and exports continue to 

Responding to concerns arising from possible disruptions to LP gas (LPG) distribution of State-run Litro Gas, Laugfs Gas affirmed that the full implementation of the LPG pricing formula is the only way to resolves the issues in the LPG value chain.

(Colombo) REUTERS: The Sri Lankan rupee hit a record low yesterday as foreign investors exited government securities after the U.S. Federal Reserve raised interest rate for a third time this year, while shares fell in thin trade amid foreign outflows

(Kochi) ECONOMIC TIMES: Pepper exporters have expressed concern at the rising import of Vietnamese pepper routed through Sri Lanka into the country despite the imposition of minimum import price of Rs.500 per kg by India. 

(Washington) AFP: With the US economy still strong, the Federal Reserve raised the benchmark interest rate on Wednesday for the third time this year but showed no indication it would be more aggressive in efforts to head off inflation.

Tourism Development and Christian Affairs Minister John Amaratunga said yesterday the government has strongly considered the possibility of resuming the ferry service between Rameshwaram

Private equity fund manager Ironwood Capital Partners has invested US$ 2 million in findmyfare.com, a leading Sri Lankan online travel company.

Sri Lanka has a long history of coping with weather impacts.    About two thousand years ago, the country built one of the world’s first irrigation systems to control its water supply.

The rupee depreciated by Rs.29 from 2005 to 2014 and the average year-on-year (YoY) depreciation of the Sri Lankan rupee was 2.8 percent per year. The official foreign reserves increased from US $ 2.7 billion to US $ 8.2 billion over the same period.

Sri Lanka will soon raise US $ 500 million by selling ‘Panda’ and ‘Samurai’ bonds in China and Japan for the first time, in an effort to expand the country’s investor base.

The credit rating of construction major MTD Walkers PLC has been further slashed to ‘B-‘ with a Negative Outlook, from ‘BB-‘ with a Negative Outlook, on the group’s falling profitability and increasing debt.  

The Sri Lanka Chamber of Pharmaceutical Industry (SLCPI) yesterday called on the health minister and National Medicines Regulatory Authority (NMRA) for a viable pricing mechanism for the country’s pharma industry, amid the depreciation of the r

Hatton National Bank PLC (HNB) yesterday announced it would be raising Rs.7 billion in a corporate bond issue in a clear indication that the lender is getting ready to meet the higher capital ratios with the BASEL III final deadline approaching in Ja

(Colombo) REUTERS: The Sri Lankan rupee hit a fresh low of 169.05 yesterday on importer dollar demand, while intervention by the Central Bank limited the fall, market sources said.

(Colombo) REUTERS: Sri Lankan shares recovered from their lowest close in nearly five years hit in the previous session and ended about one percent higher yesterdayas investors picked up battered stocks.

(Colombo) REUTERS: Sri Lanka’s finance minister urged its people to buy local products and shun unnecessary imports in order to reduce the trade deficit and help stabilise a rupee currency that revisited its all-time low yesterday.

Motorcar registrations remained steady in August despite the higher duties kicking in at the beginning of the month as buyers appeared to have remained unfazed at the higher vehicle prices in return for some added comfort and the glamour of owning a

(Colombo) REUTERS: Sri Lankan shares fell over 1 percent yesterday to their lowest close in nearly five years, as foreign investor selling, a weaker rupee and government plans to curb imports hurt investor sentiment.

The Rs.1.5 billion debenture issue of the consumer durables retail giant Singer Sri Lanka PLC yesterday became the latest victim of the exchange and interest rate volatilities afflicting the island nation’s economy and causing investors to pani

(Colombo) REUTERS: The Sri Lankan rupee declined yesterday and closed above its record low hit last week, while intervention by the Central Bank limited the fall, market sources said.

Sri Lanka Telecom PLC has appointed Kanishka Senanayake to its board as a Non-Executive Independent Director.

Development Strategies and International Trade Minister Malik Samarawickrama is likely to present the ‘Innovation and Entrepreneurship Strategy (IES) of Sri Lanka 2018-2022’ to the Ca

Sri Lanka may be the envy of many countries in the region over its income and development bracket, according to the World Bank (WB), but concerns have become grave over its vulnerability t

Sri Lanka’s consumer durables market, which is currently undergoing a cycle of tepid consumer demand, is expected to pick up in the medium term as consumers adjust to higher costs, according to Fitch Ratings. 

Sri Lanka plans to implement the standardised National Quick Response (QR) code-based transactions named LANKAQR shortly, aiming to speed up electronic transactions and to make electronic payments affordable to masses, while several other initiatives