The Sri Lanka Tourism Development Authority (SLTDA) will launch Sri Lanka’s first-ever tourist-friendly tuk tuk service on July 30, 2018, at Galle Face Green, under the patronage of Prime Minister Ranil Wickremesinghe. 

Sri Lanka yesterday signed a US $ 100 million credit agreement with the World Bank to support Sri Lanka’s efforts to strengthen and modernise the general education system in the country. 

A Chinese state-owned gold mining giant has expressed interest to set up a US $ 30 million gem and jewellery exchange in Sri Lanka with the support of the Sri Lankan government and a major local gem and jewellery supplier to China.  

The Monetary Board of the Central Bank yesterday announced the cancellation of the licence issued to Standard Credit Finance Limited (TSCFL), with effect from July 25, 2018.

The decline in consumer discretionary spending and shift in consumer demand for healthier alternatives appear to be continuing to hurt the performance of the John Keells group subsidiary, Ceylon Cold Stores PLC (CCS). 

The Sri Lankan banks may still be far from a full-blown non-performing loan (NPL) crisis. But cracks are appearing in the asset quality with the rise in sour loans, hindering the banking sector’s future growth prospects.  

The Lanka Microfinance Practitioners’ Association (LMFPA) yesterday called for government intervention to formulate a national micro credit policy framework to regulate over 1000 micro finance businesses as concerns over indebtedness caused by

Diversified conglomerate Hayleys PLC yesterday said its Rs.3 billion debenture issue, which had an option to raise a further Rs.1 billion, was oversubscribed on the opening day.

Union Bank of Colombo PLC reported slightly higher profits during its April – June quarter (2Q18) as the bank could not escape from the industry-wide phenomenon of stress building up on loans amid challenging economic conditions. 

Sri Lanka’s maritime sector master plan, developed by Maritime and Transport Business Solutions (MTBS), a consultancy firm from the Netherlands, and funded by the Asian Development Bank (ADB) is nearing completion, according to Ports and Shippi

Rigid Tyre Corporation (Pvt.) Ltd, which is said to be building Sri Lanka’s largest tyre plant, will generate 3,000 direct employment opportunities and possibly three times as many indirect jobs, the country’s apex investment promotion ag

The worker remittances to Sri Lanka have declined during May, though the earnings from tourism have continued to grow, providing a cushion to the current account of the external account of Sri Lanka. 

(Colombo) REUTERS- The Sri Lankan rupee ended firmer yesterday as exporters and some foreign banks sold the dollar, surpassing importer demand for the US currency, traders said.

(Colombo) REUTERS-Sri Lankan shares ended weaker yesterday, slipping from the last session’s three-week closing high but foreign buying prevented  steeper losses.

In one of the first cases filed in Sri Lanka in respect of an infringement of the layout design of an integrated circuit, on or around July 6, 2018, A.M.T. Nirmala, a young inventor from an engineering background, instituted action against Sri Lanka

Chinese President Xi Jinping has offered Sri Lanka a fresh grant of two billion yuan (US $ 295 million), as Beijing looks to expand its influence in the tiny island country off India’s southern tip.

NDB’s Group Chief Executive Officer Dimantha Seneviratne, speaks to media in the backdrop of recent success recorded by National Development  Bank PLC.

The modest tea sector performance of late appears to have failed to translate into better tea smallholder performance as Tea Smallholder Factories PLC (TSF) generated weaker financial performance for the quarter ende

AIA Insurance Lanka PLC last Friday announced its intention to delist its securities from the Colombo Stock Exchange (CSE), subject to obtaining requisite approvals.  AIA Insurance Lanka Director & Chief Off

Sri Lanka’s parallel vehicle importers recently urged the government to provide ‘brand new’ status for vehicle imports with zero mileage by them in order to pursue government tenders.

The Commercial Bank of Ceylon has opened a microfinance company as its second subsidiary in Myanmar, two years after opening a representative office in Yangon that offers advisory services

Sri Lanka’s deficit in the trade account has been on a continuous expansion, but the pace at which it grew during the month of May decelerated after many months, as the country’s goods exports grew faster than its imports bill. 

The 20th edition of the Hotel Show Colombo 2018 – organized by the Ceylon Hotel School Graduates Association (CHSGA) together with event partner CDC Events, was opened by Prime Minister Ranil Wickremesinghe at the BMICH yesterday. Picture shows

Sri Lanka yesterday took the first step towards implementing its national export strategy by making available to the business community the Sri Lanka Trade Information Portal (SLTIP), a one

COLOMBO (REUTERS): Sri Lankan shares rose yesterday to their highest close in three weeks and marked their second weekly gain in nine. The Colombo stock index ended 0.13 percent

NEW YORK (AFP): Reports that President Donald Trump could soon tap the strategic petroleum reserve in a bid to lower gasoline prices have raised concerns the emergency stockpile is being compromised for political purposes. Constructed in the wake&nbs

 SAN FRANCISCO (AFP): Microsoft on Thursday said its revenue and profit climbed in the recently ended quarter, getting results from its bets on cloud computing services and artificial intelligence.

HONG KONG (AFP): Asian markets advanced yesterday, with Shanghai gaining two percent as China’s weak yuan currency defied US President Donald Trump’s criticism of a strong dollar and Fed rate hikes.

The Kingsbury Hotel, the flagship five-star hotel which stands tall in the Leisure arm of Hayleys PLC, recently announced the appointment of their new General Manager, Christine Chevalaz. 

ZURICH (REUTERS): Rothschild Bank AG and one of its subsidiaries committed serious violations of anti-money laundering rules in relation to 1MDB, the Malaysian sovereign wealth fund, Switzerland’s financial regulator said yesterday.