The private sector should take the initiative to develop the country, according to Defence and Urban Development Secretary Gotabaya Rajapaksa, who was speaking at the Business Today Top Twenty-five 2013-14 at the Colombo Hilton recently.“As

Bringing global packaging honour to Sri Lanka, the World Packaging Confab kicked off in Colombo for the second time yesterday.Industry and Commerce Minister Rishad Bathiudeen addressing the event said, the upward trend i n per capita consumption a

Vega, Sri Lanka’s first electric super car will be sold at US$ 400,000 upwards, according to Codegen CEO Dr. Harsha Subasinghe who was speaking at the 59th LBR LBO CEOs Forum at the Cinnamon Grand recently.“Middle East and Sri Lanka ar

John Keells Holdings’ commercial banking unit, Nations Trust Bank PLC (NTB) recorded a net profit of Rs.830.1 million for the quarter ended September 30, 2014, recording an increase of 35 percent over the corresponding period last year, the

Power unit signs two hydro PPAs with CEBDiversified conglomerate Sunshine Holdings PLC (Sunshine) posted Rs. 144.59 million net profit for the quarter ended September 30, 2014 (2Q’15), an 18 percent decline from the same quarter last year. T

The listed weft knit manufacturer, Textured Jersey Lanka PLC (TJL) posted a net profit of Rs. 281.79 million for the quarter ended September 30, 2014 (2Q15), up 7 percent a year ago, interim results showed.The earnings per share rose to 43 cents f

Premier blue chip John Keells Holdings PLC (JKH) saw its net profit for the quarter ended September 30, 2014 (2Q15) improving 29 percent year-on-year (yoy) to Rs.2.64 billion, despite lagging transportation and logistics sector performance.

Seylan Bank PLC saw its net profit for the quarter ended September 30, 2014 (3Q14) surging 97 percent year-on-year (yoy) to Rs.1 billion with net interest income improving 21 percent yoy to Rs.3 billion.The earnings per share improved to Rs.3.04 f

The Hayleys group knitted fabric manufacturer, Hayleys MGT Knitting Mills PLC (MGT) posted a net profit of Rs.31.74 million (US $ 241,059) for the quarter ended September 30, 2014 (2Q15), up 44 percent from a year ago, according to the interim fin

Chevron Lubricants Lanka PLC, a unit of US-based multinational said its net profit for the quarter ended September 30, 2014 (3Q14) rose 23 percent year-on-year (yoy) to Rs.750 million.The revenue for the quarter rose 11 percent yoy to Rs.3 billion

The Central Bank yesterday said the methodology used for the computation for Doing Business rankings have significantly changed and Sri Lanka’s 2014 ranking has been revised downwards to 105 from 85.Therefore, the bank said, according to the

The recently concluded Sri Lanka Economic Association (SLEA) annual sessions saw many users of the published national data highlighting inconsistencies and questioning the methodological soundness of the official data.“I see inconsistencies,

The 2015 budget is ushering a new era for the country’s development, according to Central Bank (CB) Governor Ajith Nivard Cabraal, who was speaking at the KPMG Budget Highlights event, recently.“Now you see a new beginning, wher

While commending the government for presenting a budget focusing further fiscal consolidation—specially for proposing to cut the fiscal deficit to 4.6 percent of the gross domestic product (GDP)— Sri Lanka’s premier trade chamber

Overseas Realty (Ceylon) PLC Group profit after tax, including fair value gains, increased by 28% to Rs 2.4Bn over the previous period. The group maintained a worthy growth momentum to achieve a revenue of Rs 4.7Bn, increased by 4

Pan Asia Banking Corporation PLC said its Rs.3 billion debenture issue opened on October 24, was oversubscribed on the same day.The Bank in a bid to fuel its strong growth momentum and capital requirements issued 20 million unsecured subord

The Central Bank of Sri Lanka (CBSL) will be completely removing its capital account foreign exchange controls for locals within the next 2-3 years to realize the government’s goal for t he country as a global business hub.“Glob

Central Bank (CB) Governor Ajith Nivard Cabraal urged the banking fraternity to shift from the traditional mind-set of collateralized lending to serve the financial needs of the emerging middle class.Speaking at the 26th anniversary convent

Lanka Rating Agency (LRA) has reaffirmed Trade Finance & Investments PLC’s (TFI) long-and short-term financial institution ratings at BB+ and NP.Concurrently, the ratings have been placed on a Rating Watch Positive. Meanwhile, the

In spite of Sri Lanka’s Islamic population accounting for 10 percent of the total population and their economic contribution is as high as 15 percent to the gross domestic product (GDP), the country’s Islamic finance sector has been gr

Responding to the ‘creditless growth’ criticism by some quarters, Dr. Weerasinghe said there was a shift in financing the current high levels of economic growth from private credit to off-shore financing, but said economic growth witho

Foreign Direct Investments (FDIs) into the country during the first eight months of the year has surpassed the billion dollar mark, according to the country’s Investment Promotion Minister.  

In response to a longstanding cry by the spices and allied exporters, action is now underway to obtain the Geographical Indication (GI) for Ceylon cinnamon and other allied products......

Grand Prize, a Rs. 4 million worth brand new Chery Tiggo SUV, daily and weekly cash prizes on offer

The Seychelles invited Sri Lanka t o use t heir country as a platform to dive into the virtually untapped African continent with trade and investment, at the Seychelles Trade and Investment Forum held yesterday.

Etisalat Lanka recently kicked off its latest promotion ‘Game of Tunes’ launched at the Samanala Grounds, Galle to reward its loyal users of Personal Ring Back Tones (PRBT), more commonly known as Call-A-Tunes.

Motor car registration figures for July show a significant increase with 2,551 registrations, compared to 2,256 in June and 2,305 year-on-year (yoy), with 827 brand new cars composing the figure, according to JB Securities’ market research.

In response to a longstanding cry by the spices and allied exporters, action is now underway to obtain the Geographical Indication (GI) for Ceylon cinnamon and other allied products of which the geographical origin and its possessed qualities will be

The Board of Investment of Sri Lanka recently engaged in investment promotion at an important event held in Tel Aviv, Israel.

Sri Lanka's trade deficit narrowed 47.9 percent year-on-year (yoy) in May to US $ 393.4 million amid improved export earnings and lower imports, the data released by the Central Bank showed