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Mon, 18 Nov 2024 Today's Paper
Sri Lanka needs to promote rural entrepreneurship in a holistic manner to uplift over one quarter of the population trapped in poverty with daily earnings below Rs.400, despite the lowest ever absolute poverty figures reported in the country recently
The reinstatement of US sanctions against Iran announced on May 8 and the resulting potential sustained loss of Iranian exports increase the chances of the global oil supply-demand balance remaining in deficit in 2018-2019, Fitch Ratings says.
REUTERS: Sri Lankan shares closed little changed yesterday as most investors stayed on the sidelines to see the real impact of a hike in fuel prices, brokers said. State-run fuel retailer Ceylon Petroleum Corp (CPC) raised retail prices for gasoline
REUTERS: Malaysia’s newly-elected Prime Minister Mahathir Mohamad plans to appoint a finance ministry adviser who will oversee efforts to recover billions of dollars allegedly stolen from state fund 1
REUTERS: World shares rose yesterday as investor appetite for risky assets got a boost from soft U.S. inflation numbers, helping soothe worries that the Federal Reserve might step up the pace of its rate hikes.
The Asian Development Bank (ADB) and the Government of Sri Lanka signed a US$100 million loan agreement as additional financing for the government’s efforts to develop skills to meet labour demands, support economic
The 8th AISEX and FASE apparel industry sourcing expo opened at the BMICH on Thursday. Picture shows Industry and Commerce Minister Rishad Bathiudeen inspecting some items on display. Chairman of Sri Lanka Apparel Institute Prof. Lakdas Fernando is a
The Monetary Board of the Central Bank of Sri Lanka yesterday kept policy interest rates steady despite a sharp increase in credit to the private sector, which the Central Bank Governor identified
A 40-member Japanese delegation is slated to visit Sri Lanka in October this year, in order to look at the possibilities of streamlining the automobile industry that is being currently impacted by the Treasury’s ad-hoc tax policies.
Sri Lanka is to establish three Liquefied Natural Gas (LNG) power plants in the Hambantota area with Chinese, Indian and Japanese government assistance. A proposal to this end presented by Power and Renewable Ener
The European Union (EU) has launched a Rs.810 million project to support the modernisation of Sri Lanka’s agriculture sector. The project ‘Support to the modernisation of the agriculture sector in Sri Lanka’ will be implemente
The Commercial High Court of Colombo issued summons on former Company Secretary of Adamexpo Ltd., Dilanka Mendis for alleged offence of contempt. High Court Judge Ruwan Fernando issued the summons pursuant to the petition filed by Dr. Ai Asger Shabbi
REUTERS: The Sri Lankan rupee closed marginally weaker yesterday and ended at a record closing low, prompting the Central Bank to sell dollars to support the domestic currency, dealers said.
The top professional bodies representing engineers, architects, town planners and quantity surveyors and other related professions this week charged that the government has rushed into signing the Sri Lanka-Singapore Free Trade Agreement (SLSFTA) wit
National Development Bank PLC (NDB) reported higher profits for the January – March quarter (1Q18) as the bank was seen pricing its loans higher as the loan book growth moderated amid general slowdown in private sector credit.
Finance and Mass Media Minister Mangala Samaraweera responding to a media query yesterday confirmed that top professional Ranel T. Wijesinha will be appointed as the new Securities and Exchange Commission (SEC) Chairman.
Sri Lanka yesterday introduced the much-talked-about automatic fuel pricing mechanism, removing the heavy subsidies that drained cash from the government coffers.
The Cabinet of Ministers yesterday approved the proposal presented by Plantation Industries Minister Navin Dissanayake to lift the ban on the glyphosate weedicide for the tea and rubber industries for a period of 36 months.
REUTERS: Sri Lankan shares ended little changed yesterday, at a near four-week low, as losses in shares of beverage companies outweighed gains in bank stocks even as many investors continued to stay on the sidelines looking for fresh cues.
Lanka IOC PLC (LIOC) saw its losses narrowing during the quarter ended March 31, 2018 (4Q18), due to the strong increase in sales while the company committed to keep its costs in check as the oil prices in the global market made notable gains during
Teejay Lanka PLC managed to report a slight increase in the bottom line for the final quarter ended in March 2018, as the weft knitted fabric maker continued its positive march in quarterly earnings it set out in the December quarter.
REUTERS: Sri Lanka’s Central Bank is expected to keep key interest rates unchanged at its policy review announcement on Friday, after unexpectedly cutting a key rate by 25 basis points in April to help bolster economic growth that has slipped t
Guardian Capital Partners PLC, the specialized private equity investment arm of the Carson group, has incurred an impairment loss of Rs.52.4 million for the financial year ended March 31, 2018 (FY17/18), with two of the start-up companies the firm ha
Despite all the negative rhetoric about trade agreements, trade arrangements encourage the free flow of goods and services between the members. These agreements, which can be bilateral or multilateral, reduce or eliminate trade barriers such as tarif
The relative abundance and modular nature of solar and wind are driving the shift to renewables. Multiple trends are driving the transformation of global energy systems. One of them is electricity networks, including “the digitization of everyt
The Sri Lankan free trade agreement (FTA) negotiators want India to implement interim remedies for the non-trade barriers that exist in the current Indo-Lanka Free Trade Agreement (ISFTA) prior to the signing of the Economic and Technology Co-operati
Recently, I visited one of the most visited national parks in India, famed for its vast number of flora and fauna, the Bandhavgarh National Park. It is one of the most popular national parks in India, located in the Umaria District of Madhya Pradesh.
Luxury African safari operator andBeyond is likely to make some large-scale investments in Sri Lanka in the next two years, giving new impetus to the island nation’s wildlife tourism, Mirror Business learns.
Nestle Lanka PLC, the local unit of the world’s largest food and beverage company, saw its March quarter (1Q18) net profit increasing 9.4 percent year-on-year (YoY) to Rs.944 million, as the company managed to contain its costs.
The National Economic Council (NEC) chaired by President Maithripala Sirisena is expected to take up the issues faced by the country’s gem and jewellery industry on May 15, which will include the recently imposed 1
18 Nov 2024 2 hours ago
18 Nov 2024 3 hours ago