COLOMBO (Reuters) - The Sri Lankan rupee dropped to an all-time low yesterday, marking its ninth straight session of setting fresh lows, as dollar demand from importers remained strong.

LONDON (AFP) - Coca-Cola said yesterday it had agreed to buy international coffee chain Costa from its UK owner Whitbread, in a deal that gives the beverages behemoth its first global coffee brand.

The 28th edition of the FACETS International Gem & Jewelry Exhibition opened with a grand inauguration ceremony at the BMICH yesterday. 

The UN independent expert on foreign debt and human rights, Juan Pablo Bohoslavsky, will be on an official visit to Sri Lanka from 3 to 11 September, at the invitation of the Government.

The Central Bank remains hopeful that it can migrate to flexible inflation targeting in the first quarter of next year— one year before it was originally planned.  Flexible inflation targeting is where the interest rates are determined aim

The Commercial Bank of Ceylon has received registrations for  a whopping Rs. 10 billion in loans to Small and Medium Enterprises (SMEs), under the government’s ‘Enterprise Sri Lanka’ initiative launched in June this year to sti

Sri Lanka’s top business tycoons expressed frustration over inconsistencies in government’s policies and an absence of clear leadership for policy implementation, but expressed keenness to engage the government, acknowledging that politic

Expolanka Freight (EFL), a global freight-forwarding company headquartered in Sri Lanka is setting up its 18th overseas operations in the regional hub of Malaysia.  The company is taking over an existing operation managed by its parent company S

COLOMBO (Reuters) - Sri Lankan shares ended higher yesterday, moving away from their lowest close in 17 months hit earlier this week, as reports that the main state-owned pens

COLOMBO (Reuters) - The Sri Lankan rupee dropped to an all-time low yesterday, marking its eighth straight session of setting fresh record lows, as dollar demand from importers remained strong amid sluggish inflows. The rupee, which hit a fresh recor

After a decade of country-wide efforts involving eight million members, the first-ever national policy for Sri Lanka’s historic cooperative sector has finally arrived at Cabinet level for approval, a

(Colombo) REUTERS: Sri Lankan shares rebounded yesterday, from their lowest close in 17 months, boosted by local media reports citing the Central Bank Governor that the main state-owned pension fund will return to the equity market. The Employees&rsq

The Central Bank remains hopeful that it can migrate to flexible inflation targeting in the first quarter of next year— one year before it was originally planned.  Flexible inflation targeting is where the interest rates are determined aim

Sri Lanka will see the arrival of 2.5 million tourists this year amid the amplified efforts to promote Sri Lanka’s tourism product at several key markets, according to Tourism Development a

SriLankan Airlines said it is significantly expanding its capacity on the Colombo-Singapore route with the introduction of wide-bodied Airbus A330 aircraft that are equipped with the latest inflight entertainment systems, luxurious seating and on-boa

(Colombo) REUTERS: The Sri Lankan rupee hit an all-time low for a seventh straight session yesterday, dragged down by importer dollar demand amid less inflows of the greenback, dealers said.

Hempel Holdings is set to launch its latest venture, Tamba Villas with an investment of US $ 10-15 million in Talpe next month, encouraged by the government’s recent decision to allow foreigners to purchase condominium units on a freehold basis

The Softlogic group’s Odel PLC yesterday disclosed that it bought 100 percent of Cotton Collection Private Limited for Rs.300 million from Cotton Collection founder Niloufer Esufally Anverally. 

Consumer durables retailer Singer (Sri Lanka) PLC, now a unit of Hayleys group, said the company’s management and its parent are in discussion to sell down a stake in the company to a strategic investor “at a mutually agreed price.”

Sri Lanka is to roll out a three-month digital marketing campaign (social media, search engine optimization and management) from September to promote the country’s IT/BPM industry  in 15 key markets, followed by

The Employees’ Provident Fund (EPF) has recently begun trading in the secondary government securities market and will soon start trading in stocks in the Colombo Stock Exchange (CSE) as the fund ha

Worker remittances to Sri Lanka dropped by 11.4 percent to US $ 524 million in June compared to the same month in 2017, as the earnings from the largest foreign exchange earning source to the country continued to show signs of weakness.   

(Colombo) REUTERS: The Sri Lankan rupee hit an all-time low of 161.30 per dollar yesterday, dragged down by importer dollar demand amid less inflows of the greenback, dealers said. The 

Cotton Collection Private Limited said yesterday that they have divested their shares to ODEL PLC, a subsidiary of Softlogic Holdings PLC for an undisclosed amount. “The much sought-after brand was bought by the Softlogic Group as it was the pe

Sri Lanka’s imports raced to surpass the growth in merchandise exports during the month of June as the country struggles to bridge an ever-deepening hole in the trade account, intensifying the pressure mounting on the currency and foreign reser

The Central Bank’s Financial Intelligence Unit (FIU) early this month entered into a memorandum of understanding (MoU) with the Insurance Regulatory Commission of Sri Lanka (IRCSL) to fight money laundering and terrorist financing in the insura

The world around us is increasingly moving forward with regional and bilateral free trade agreements (FTAs) as the multilateral trade liberalization process led by the World Trade Organisation has come to a standstill. There are now 419 regional trad

The profits at Cargills Bank Limited more than doubled during the quarter ended June 30, 2018 (2Q18), as the lender recorded some robust new loan growth and stretched the margins. But the loan impairments and operating expenses rose significantly.

(Colombo) REUTERS: The Sri Lankan rupee hit an all-time low of 161.10 per dollar yesterday, dragged down by importer dollar demand and less inflows of the greenback, dealers said.

The Export Development Board (EDB) yesterday announced  the relaunch of the ‘1000 start-up’ initiative, an effort taken towards diversifying Sri Lanka’s export basket and market.