The acquisition of Atlas Axillia (Private) Limited (Atlas) has improved the business risk profile of Hemas Holdings PLC as the new entity will improve the group’s defensive cash flow when the other key units such as FMCG and leisure have slowed

The challenge in finding true independent directors with diverse skill sets for banks surfaced at a recently held top-level meeting of the stakeholders in the banking sector, in Colombo. 

Slovakia, the world’s highest per capita car producer, is keen on importing Sri Lankan rubber tyres for the Slovakian automotive manufacturing industry, according to a communiqué from the local Industry and Commerce Ministry.

Japanese financial services major, ORIX Corporation, yesterday exited the Sri Lankan market with the sale of its 30 percent stake in Lanka ORIX Leasing Company PLC (LOLC) to the leasing company’s local promoter and its Deputy Chairman Ishara Na

Digital transformation has generated a fierce debate among policymakers, economists and business leaders about the societal impact it would make, specifically on jobs. According to a global survey, about 80 percent of current jobs globally are tipped

Mahinda Rajapaksa-backed joint opposition yesterday submitted a no-confidence motion against Prime Minister Ranil Wickremesinghe to the speaker. The motion against Wickremesinghe, according newspapers, contains charges of economic mismanagement by hi

The Sri Lankan government will be raising US$ 1 billion via a foreign currency term financing facility (FTFF) denominated in US dollars, Japanese yen or euro from domestic and international banks and investment banks in order to finance expenditure a

The acquisition of Atlas Axillia (Private) Limited (Atlas) has improved the business risk profile of Hemas Holdings PLC as the new entity will improve the group’s defensive cash flow when the other key units such as FMCG and leisure have slowed

United Motors Lanka PLC (UML) yesterday announced that it sold its entire stake in TVS Lanka (Private) Limited to the TVS parent company in India for Rs. 1 billion. In a filing to the Colombo Stock Exchange, UML said it sold 17.5 million shares in TV

The Department of Foreign Exchange of the Central Bank wants to end its involvement in setting up rates for transshipment containers in accordance with the new Foreign Exchange Act, in the backdrop of government’s decision to liberalize the cou

The Sri Lankan government may need to increase the rate to be charged under the proposed Debt Payment Levy manyfold in order to meet the revenue target expected from it, according to a banker.

The Central Bank this week said they could be lenient on higher capital ratios under the new BASEL III rules but the banks need to convey by how much their profits and capital bases may get eroded from the new accounting standard on loan loss provisi

The Spices and Allied Product Producers’ and Traders’ Association (SAPPTA) of Sri Lanka yesterday said that the Indian government’s decision to unilaterally set a minimum import price for pepper imported from Sri Lanka is adversely

A deal has been sealed to sell some of the key EAP Group assets to a Singapore-based investment holding company, with Sri Lanka’s Central Bank giving the green light to proceed with the deal, Mirror Business learns.

The Court of Appeal fixed the argument for December 4, 2018, in respect of the writ petition filed by Parliamentarian Vasudeva Nanayakkara, on the alleged shipping monopoly in the country.

A visiting delegation of German Industry and Commerce had a preliminary meeting with Development Strategies and International Trade Minister Malik Samarawickrama at the ministry yesterday, prior to the opening of the delegation office in Sri Lanka. G

A number of leading international petroleum companies will be visiting Sri Lanka in the coming months to evaluate the opportunities for oil and gas exploration in the Mannar Basin, while the Petroleum Resource Development Ministry seeks the cabinet a

Building awareness on tax compliance and giving five-star hospitality treatment to the potential taxpayers are paying dividends, with more tax files being opened after Sri Lankans participated in such seminars, according to the Finance Ministry.

HSBC has always been in the forefront of Sri Lanka’s growth story—may it be funding the big infrastructure projects, raising funds for the government in the 

The troubled The Finance Company PLC (TFC) has resorted to dispose its assets and real estate as the company appears to be making a last ditch attempt to revive fortunes.

Serendib Hotels PLC has consolidated control over its recently acquired luxury boutique villas in down south last week as Hemas group leisure sector company acquired the balance stake in the operating company.  

A totally fresh commission is likely to be established at the Securities and Exchange Commission (SEC) shortly, following the expiry of the three-year term of the commission led by Chairman Thilak Karunaratne on January 25, this year.

The Colombo port has gained five places in the latest Drewry Port Connectivity Index to be ranked as the 13th best connectivity port.  According to the rankings, the Colombo port is also the best connectivity port in South Asia. 

The remainder of 2018 and the entirety of 2019 would be positive for consumer markets as the government is likely to introduce fiscal stimulus in the run up to 2020 elections after the battering it took at the local government elections, industry exp

SriLankan Airlines, the national carrier of Sri Lanka and a member of the oneworld alliance, reaffirming the global appeal and innovativeness of its marketing communication endeavors yet again, has won three awards at the recently held Golden City Ga

Qatar is looking to Asia for foreign investment in a ‘new era’ for the country, following the blockade by a number of major Arab nations in June last year.

REUTERS: The Sri Lankan rupee closed steady yesterday as exporter dollar sales and inward remittances offset demand for the U.S. currency in early trade, dealers said.The rupee closed unchanged at 156.10/15 per dollar.

The Board of Investment held the “Investor Facilitation and Networking Event” at the Cinnamon Lakeside Hotel recently, to engage in a dialogue with investors who have re-invested in Sri Lanka.  

REUTERS: Sri Lankan shares slipped to their lowest close in more than eight weeks yesterday, led by beverage and telecom stocks as investors remained worried about the island nation’s slower economic growth, brokers said. 

REUTERS:  China is preparing a range of responses to planned U.S. tariffs and will stand up to protectionism, but still hopes for dialogue, Beijing’s ambassador to the World Trade Organization (WTO) said on Thursday.