The land reclamation of Colombo Port City (CPC) is scheduled to be completed by June next year as the land filling is nearing 90 percent completion while the breakwater construction is expected to restart in September-October this year, following the

A country can be truly developed only by producing quality goods and services, which would be sold at higher prices locally as well as globally, beating the competition. The main problem identified in developing economies like ours has been how to in

A news item under the above heading in Daily Mirror on July 27, 2018 has reported that the Geological Survey and Mines Bureau (GSMB) is to launch a systematic field investigation under the “guidance” of the present chairman whom I believe

Trump victory in 2016 was powered by economically downtrodden voters who were driven by their fears of insecurity about their and their children’s economic future. For those people after several years, America’s economy is finally showing

The order on the interim reliefs sought by the petitioners at the Ceylon & Foreign Trades PLC (CFT) case was fixed for September 7, 2018 by the Commercial High Court judge Ruwan Fernando.

COLOMBO (Reuters): The Sri Lankan rupee ended marginally weaker yesterday as demand for the U.S. dollar from foreign banks surpassed mild inward remittances, traders said.

Sri Lanka Gem and Jewellery Association (SLGJA) is proposing a regulatory framework to enhance accountability in order to allow importation of gold bullion at zero duty for direct and indirect Jewellery exports while warning that the current 15 perce

Buoyed by higher tourist arrivals from India and Europe, Sri Lanka’s total tourist arrivals during the month of July rose 6 percent year-on-year (YoY) to 205,482 the data released by the country’s tourism office showed.

CIC Holdings PLC (CIC) slashed losses during the quarter ended June 30, 2018 (1Q19) as the diversified conglomerate known for its crop and industrial solutions is recalibrating its different busi

AFP: US President Donald Trump warned countries against doing business with Iran yesterday as he hailed the ‘most biting sanctions ever imposed’, triggering a mix of anger, fear and defiance in Tehran.

The minority shareholders of Ceylon & Foreign Trades Plc have filed a case at the Commercial High Court of Colombo for oppression and mismanagement of the company affairs by Director-Executive Chairman Ali Asger Shabbir Gulamhusein in concert wit

The higher loan loss provisions hit Nations Trust Bank PLC’s (NTB) profits although the bank managed to record a decent growth in new loans amid some solid growth in new deposits. 

The Central Bank may have maintained its current monetary policy stance last week but the Monetary Board is likely to tread on a rocky road for the next few months as it will face the dual challenge of avoiding any more outflows from the government s

(Colombo) REUTERS: Sri Lankan shares closed flat yesterday after gaining for two straight sessions on mild profit-booking as investors awaited fresh triggers amid thin trading, brokers said.

Lanka Indian Oil Company PLC (LIOC) returned to profit during the quarter ended on June 30, 2018 (1Q19), as the company managed to contain the costs as the top line edged down, perhaps due to the shift in sales to the state-owned distributor for a sh

(Colombo) REUTERS: The Sri Lankan rupee ended slightly firmer yesterday as inward remittances surpassed early demand for the US dollar from foreign banks, traders said.

The World Economic Forum in 2016 has ranked the water crisis as the highest concern over the next decade. We, in Sri Lanka, are beginning to sense this crisis and the uncertainties in weather pattern further aggravate this issue.

Sri Lanka’s merchandise exports grew moderately in the first half of the year, at 5.3 percent year-on-year (YoY) to reach US $ 5.63 billion, compared to US $ 5.34 billion recorded for the same period, last year, the provisional data from the Ex

The Central Bank has lowered its year-end forex reserve target to US $9 billion from the earlier revised target of US $ 9.5 billion, Central Bank Governor Indrajit Coomaraswamy said 

Core logistics sector amplified by the stronger airfreight volumes gave the momentum to Expolanka Holdings PLC during the June quarter (1Q19), as the diversified logistics group reported improved top and bottom line performances.  

(Shanghai) REUTERS: The Export-Import Bank of China (Exim Bank) said its outstanding loans to Belt and Road Initiative projects rose 37 percent in the first half of this year from the same period in 2017, the official Xinhua news agency said on Satur

Asia Securities Chairman and Colombo Stock Exchange board member Dumith Fernando has been appointed an Independent Non-Executive Director of Union Assurance PLC (UAL) with effect from August 3, 2018.

A massive jump in provisions made against possible bad loans took away an otherwise an exceptional quarter at Sampath Bank PLC, marked by improved margins, healthy growth in new loans and balanced funding mix.

The Central Bank has revised down the economic growth forecast for this year to 4 percent from the initial growth forecast of 5 - 5.5 percent at the beginning of the year, as the economic 

Venture Green Global Pvt Ltd, a company focused on exporting Sri Lanka’s primary goods is eager to expand Sri Lanka’s raw products into new markets around the world.

The Monetary Board of the Central Bank of Sri Lanka yesterday decided to maintain policy interest rates at their current levels amidst monetary policy tightening in the United States and othe

COLOMBO (REUTERS): The Sri Lankan rupee ended steady yesterday as dollar demand from foreign banks offset selling of the greenback by domestic lenders on account of inward remittances, traders said. 

SHANGHAI (AFP): China’s stock market has been overtaken as the world’s second-biggest by Japan’s, having been swiped this year by the threat of a trade war with the United States and slowing economic growth.

HONG KONG (AFP): Asian equities were mixed yesterday after another painful week as fears of an all-out trade war between Beijing and Washington keept investors on edge, while China’s stock market wa

Known to be Sri Lanka’s largest food, packaging and agriculture expo, the three-day Profood Propack and Agbiz 2018 trade exhibition opened for the 17th consecutive year yesterday at the