(Colombo) REUTERS: Sri Lanka may have to downgrade its full-year forecast for tea production after output tumbled 14 percent in August from a year earlier due to a prolonged drought, the State-run Tea Board said yesterday. 

(Colombo) REUTERS: The Sri Lankan rupee hit an all-time low of 166.10 per dollar yesterday due to dollar demand from importers and banks to facilitate foreign bond outflows, but selling of the U.S. currency by a state bank limited the fall, market so

Sri Lanka’s economy grew at an estimated 3.7 percent during the second quarter of this year (2Q18) compared to  4 percent growth reported for the same quarter, last year, and the revis

MAS Holdings made history by being recognized as the ‘Exporting Conglomerate of the Year’ at the Presidential Export Awards 2018 held at the BMICH under the patronage of President Maithripala Sirisena yesterday.  At the same event

Sri Lanka plans to hold ministerial level talks with the Chinese government this November to resume negotiations on the proposed China-Sri Lanka Free Trade Agreement (FTA).

The fashion mall at Colombo City Centre will open to the public at 4.30 p.m. today amid an ambience of colourful celebrations. 

Sri Lanka has secured a US $ 50 million loan from the Asian Development Bank (ADB) for rooftop solar power generation project under the much hyped ‘Soorya bala sangramaya’ or battle for solar power programme.

The event management industry has flourished with innovative concepts. While it has dominated the trends in organising events it has provided an opportunity for creative minds to work at ease. Adding into this industry is Colombo Affairs (Pvt.) Ltd,

The Central Bank yesterday slammed a report by Nomura Holdings Inc., which placed Sri Lanka among the countries most vulnerable to an exchange rate crisis, largely based on erroneous data and seemingly flawed research methodology. 

The government should embrace policies and regulations to promote e-commerce and digital financial services for the country to enter into the Fourth Industrial Revolution, which would be the enabler of inclusive growth, Axiata Group Berhad CEO South

(Sydney) REUTERS: An Australian unit of German insurer Allianz SE sold travel insurance that misleadingly promised unlimited emergency medical cover wherever people were even though the policies had limits on both cost and location, a misconduct inqu

(Colombo) REUTERS: Sri Lankan shares fell slightly to a near three-week closing low yesterday as investors sold manufacturing and banking stocks in dull trade and the rupee hit a fresh low in its record-setting spree.

At the District Court of Colombo, the Ceylon Electricity Board (CEB) has agreed to pay the liabilities amounting to Rs.162 million to the Public Utilities Commission of Sri Lanka (PUCSL), within a period of two months.

(Colombo) REUTERS: The Sri Lankan rupee touched a fresh low of 165.10 per dollar yesterday, due to higher dollar demand from importers and banks to facilitate foreign bond outflows amid exporters who were reluctant to sell the U.S. currency, market s

The Finance and Mass Media Ministry yesterday announced the reduction of aValue Added Tax (VAT) on imported fabrics to 5 percent from 15 percent. 

Although foreign direct investment (FDI) inflows to Sri Lanka have ‘recovered’ in 2017, hitting the much-touted US $ 1 billion landmark, the underlying bottlenecks of poor ease of doing business, attracting the wrong ‘types’ o

The United National Party (UNP), the oldest political party in the country, recently celebrated its 72nd anniversary.   

Lending by Sri Lanka’s banking sector to the broader construction sector has edged up during the second quarter of this year, but substantially down from the 2017 highs when the Central 

Singhe Hospitals PLC last week said it received the shareholders’ approval to raise fresh capital by way of a private placement amid continued losses, and the management saying the company is facing a serious loss of capital.

(London) REUTERS: London’s vast financial sector must never again be the ‘masters of the economy’, the finance spokesman of Britain’s opposition Labour Party said, accusing bankers of profiting from speculation at the expense

New entrants and relatively established players are seen gaining traction in Sri Lanka’s lubricant landscape and eating into the share of the market leader, the data released by the Public Utilities Commission of Sri Lanka (PUCSL), the shadow r

Unilever Sri Lanka Chairman Carl Cruz and United Nations Development Programme (UNDP) Country Director Jorn Sorensen recently handed over a policy action paper for the promotion of Pub

Sri Lanka’s recurrent expenditure on public sector salaries and pensions will account for 44 percent of the government’s revenue this year across  1,251 entities due to 

In an interview with Dailymirror Online Shangri La Colombo’s Director Sales and Marketing Chris McFall states that the hotel has been performing well as per the set benchmarks since the opening.

The “Sustainable Energy Expo 2018”, organized jointly by the Electricity and Renewable Energy Ministry, Sri Lanka Sustainable Energy Authority and the Chamber of Construction Industry opened at the BMICH (Nugasewana Hall) yesterday. Pictu

PARIS (AFP) - The head of the OECD said yesterday that he regretted the rich nations club’s failure to predict the crisis triggered by the collapse of Lehman Brothers a decade ago

 HONG KONG (AFP) - Asian markets extended their gains yesterday on hopes for China-US trade talks, while Turkey’s lira held up after a shock hike in the country’s interest rate and a dip 

While acknowledging the delays in the government’s reform agenda, Prime Minister Ranil Wickremesinghe urged private sector backing to spur growth with enhanced coordination, and v

‘Sahasak Nimavum’, the national exhibition for inventions and innovations and competition– 2018 organized by Sri Lanka Inventors Commission opened yesterday at the Sri Lanka Exhibition and Convention Centre (SLECC). Three hundred an

Sri Lankan SMEs, a key driver of the country’s GDP are to collect a hefty packaging bonanza, the first such initiative by the State.   “Like in any other countr