The Ceylon Motor Traders Association (CMTA), which represents all major international motor manufacturers in Sri Lanka yesterday acknowledged the need to stem excessive vehicle imports to the country to have a sound economic footing in the long run.

SINGAPORE (AFP): Southeast Asia and Europe stressed the importance of pushing back against protectionism and the threat of global trade wars yesterday, as their ministers work towards the eventual goal of a region-to-region free trade pact.

COLOMBO (REUTERS) : Sri Lankan shares rose for the second straight session yesterday as foreign investors picked up shares that had been battered in recent days, brokers said. 

A discussion to discuss the much hyped up Gamperaliya programme of the Yahapalana government to win back the village was held at a government-owned five-star hotel. Many green types we hear want the programme to be managed by the deputy green leader

Two city hoteliers sympathetic to the blue types had secretly met the brother of the deposed king at a star property in the city. The meeting we hear was to discuss the hospitality industry. The hoteliers were advised to go slow on their investments

A construction type that was securing every important construction thanks to a ministering type, having close links to a VVIP, is now in big trouble. The man who has strong links to the deposed king continued his winning streak through Yahapalana, co

The deposed king had met the law and order man from Bibile at a Chinese function recently and cornered the ministering type. The deposed king had asked the ministering type whether he was going to file a fresh case against him and his family before t

The demand for new loans has shown clear signs of moderation in June as economic activities have slowed down amid the banks maintaining an extremely cautious approach to granting fresh facilities as they battle the deteriorating asset quality after a

People’s Leasing & Finance PLC reported a 25 percent increase in profits during the three months ended on June 30, 2018, as the country’s second biggest non-bank lender improved its loan margins 

Finance and Mass Media Minister Mangala Samaraweera yesterday said the vehicles below the engine capacity of 1000 cubic centimetres (cc) still remain more affordable compared to 2014, despite the recent duty hike.  

Anti-corruption activist and public interest litigant Nihal Sri Ameresekere has instituted action in the District Court of Colombo against the sale of the Hilton Colombo hotel. In this regard, Ameresekere has instituted action against

Finance and Mass Media Minister Mangala Samaraweera yesterday vowed to bring in new amendments to the Microfinance Act of 2016 before the next budget, to resolve the rural indebtedness, which has become “a national tragedy”, caused by cer

Sri Lanka’s Central Bank is expected to keep key interest rates steady at its policy review on Friday as it looks to spur faltering economic growth amid heavy downward pressure on the nation’s currency, a Reuters poll showed. 

Ceylon Petroleum Storage Terminals Limited (CPSTL) yesterday said it is ready to face any trade union actions by the Ceylon Petroleum Bowser Owners’ Association (CPPBOA) to ensure an uninterrupted fuel supply to the nation by engaging directly

Sri Lanka’s inflation measured by the Colombo Consumer Price Index (CCPI) accelerated to a six-month high of 5.4 percent during the 12 months to July, up sharply from 4.4 percent in June, largely due to the base effects and higher food prices.&

(Colombo) REUTERS: The Sri Lankan rupee ended marginally firmer in dull trade yesterday as selling off dollars by banks surpassed mild demand for greenbacks from importers, traders said.

Ceylon Tobacco Company PLC (CTC) yesterday announced that Susantha Ratnayake, who served as Chairman of the board of directors of the company, retired from the position with effect from July 31, 2018, having completed a term of five years as Chairman

Sri Lanka and Singapore have recently signed a bilateral free trade agreement – the Sri Lanka-Singapore FTA (SLSFTA). Apart from being a comprehensive and modern free trade agreement (FTA) in scope and coverage, the SLSFTA paves the way for Sri

Sri Lanka Insurance Corporation (SLIC) launches a fresh attempt to regain the market leadership in Sri Lanka’s insurance industry by implementing a three-year strategic plan partnering with a consultancy firm, aligned with fast-tracked branch e

What does the regulations enforced after August 1 mean for tuk-tuks?  I live in Moratuwa, down Diggala Road, a two-kilometre by-road from Keselwaata Junction on Old Galle Road. In my little hamlet, there are only two mini Lanka Ashok Leyland bus

Malaysia has expressed its strong interest in moving forward on the free trade agreement (FTA) with Sri Lanka that was initially contemplated in 2013, a communiqué from Sri Lanka’s Industry and Commerce Ministry said yesterday. 

John Keells Hotels PLC, the resort sector arm of the John Keells group, produced yet another disappointing quarterly performance as three of its resorts – two in the Maldives and one in Sri Lanka – were closed for refurbishment. 

Some solid growth in new loans and better margins lifted the profits of National Development Bank PLC (NDB) but the hefty provisioning against the possible bad loans and the resulting asset quality weakening stood out by  June 30, 2018. 

In response to the Mirror Business article titled ‘Spat between CB and FinMin delays Golden Key repayment’, published on July 30 (yesterday), Golden Key Credit Card Company (GKCCL) Ltd Chairman Priyantha Fernando clarified that GKCCL has

(Colombo) REUTERS: The Sri Lankan rupee ended slightly weaker yesterday as dollar demand from importers surpassed greenback sales by banks, traders said.

Marino Mall, the mega shopping mall by Damro Group with an investment of Rs.12.5 billion, was opened to the public yesterday. 

SriLankan Airlines yesterday welcomed its newest and final addition to the Airbus A321 Neo fleet. The aircraft arrived from Hamburg via Abu Dhabi on July 29, 2018.

Mention Sri Lanka and tea, cricket, sea and safari typically come to mind. These are the more positive perceptions of the country. But political turmoil, policy confusion, currency depreciation and a bond scandal remain some of the negatives that the

According to the statistics released by China’s National Bureau of Statistics, China’s gross domestic product (GDP) growth rate in the first half of 2018 reached 6.8 percent. The national economy sustained the momentum of steady and sound

GlobalData has ranked Sri Lanka as the fourth fastest growing tourism market in the world.