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The Maldives has narrowly failed to reach its target of one million tourist arrivals for 2012, according to figures released by Ministry of Tourism, after a year of political turmoil and an economic slump in key markets, Maldivian media reported

World’s largest Emergency Medical Services (EMS) company which operates in 35 countries officially launched its services in Colombo yesterday.

Turkish Airlines will start flying to Colombo onFebruary 1 as the airlines plans to extend its existing 5 weekly Istanbul-Male service to Colombo

The present impeachment process against Chief Justice Shirani Bandaranayake by the government has raised concerns about the institutional credibility, a leading international banking group warned in a report released yesterday on Asian sovereigns.

LOLC Micro Credit, a unit of LOLC group has secured a syndicated loan worth of US $ 55.5 million from a consortium of Development Financial Institutions (DFIs) from around the world, the company said in a statement

Sri Lanka Telecom Mobitel celebrates twenty illustrious years. Commencing operations in 1993, Mobitel was one of the foremost mobile service providers in Sri Lanka, beginning operations using first generation cellular technology - Advanced Mobile Phone System (AMPS)/ Time division multiple access (TDMA).

The number of vehicles registered during 2012 has recorded a 30 per cent decline to 397,295 from the highest figure of 575,000 recorded in 2011, according to the latest data released by the Department of Motor Traffic.

The Board of Investment (BoI) of Sri Lanka signed an agreement with International Construction Consortium (Pvt.) Ltd (ICC) for a mixed development project in Malabe.

Sri Lanka's Year-on-Year inflation in December eased to 9.2 percent from 9.5 percent in November, the data released by the Department of Census and Statistics showed

Sri Lanka’s telecommunications sector entered the 4G era recently with the launch of Commercial LTE Services in the city of Colombo by Dialog Broadband Networks (DBN), the fixed telecommunication services arm of the Dialog Axiata Group.

U. S . hedge fund manager Raj Rajaratnam has agreed to pay disgorgement of about $1.5 million in a civil lawsuit filed by the Securities and Exchange Commission, and to waive his right to appeal the judgment, court papers showed.

Nestlé Lanka PLC said it has paid Rs.4 billion, approximately US $ 31 million to the local farming community to procure raw materials such as fresh milk and coconut for its food and beverage products during 2012.

The average national debt shouldered by each Sri Lankan has risen by 25% to reach Rs. 308,171 (US $ 2,371), from end of last year’s Rs.245, 980 (US $ 1,892), the monthly economic statistics released by the Central Bank of Sri Lanka (CBSL) showed.

With old friends alienated and close friends like India at bay, and China, Libya and Russia among main allies, Sri Lanka’s foreign economic policy is completely lopsided.

For the first time in Sri Lanka, the National Mobile Service Provider, Sri Lanka Telecom Mobitel launched a NFC (Near Field Communication)based loyalty programme – the Club Magnate loyalty programme. This ground-breaking product is yet another innovative addition to the Telco’s growing portfolio.

Amana Bank was recognized as one of those institutions that had brought in foreign investments into Sri Lanka during the most difficult period of terrorism in the country, at the Global Commerce Excellence Awards ceremony held at The Kingsbury hotel in Colombo recently.

Minimum broadband speeds are expected to be imposed and strictly monitored for both fixed and wireless operators from next January, Sri Lanka’s telecom regulator said.

Micro Cars Ltd commenced its first set of exports of six locally assembled tractors to Malaysia recently.

The efficacy of Sri Lanka’s banking secrecy laws has been called into question by former Chairperson of the Ceylon Chamber of Commerce and good governance activist Chandra Jayaratne, in the wake of a purported leaking of the confidential bank account details of Chief Justice Shirani Bandaranayake to Members of  Parliament.

US technology giant Apple has been working with component suppliers in Asia to test new TV sets in a possible move to branch into the television market, a report said Wednesday.