The Asian Development Bank (ADB) has allocated a US$ 600,000 grant from the Health System Enhancement Project to the Government of Sri Lanka to finance preventive and response efforts to fight a potential

Sri Lanka’s apparel sector has presented a paper assessing the possible impact of coronavirus (COVID-19) on the industry, which also contained proposed measures that would help safeguard the small and medium-sized industry players.

The local apparel sector, following a series of stakeholder consultations, has assessed that the immediate revenue loss for the industry due to the coronavirus (Covid-19) outbreak in China would be about US $ 510 million, which amounts to approximate

The Asian Development Bank (ADB) said yesterday the coronavirus outbreak is set to trim economic growth in developing Asia and around the world this year. More than 3,200 people worldwide have died from the respiratory illness that can lead to pneu

The Central Bank (CB) said yesterday that Sri Lanka’s economic growth could slump to 3.5 percent this year from over 4 percent projected earlier as revenue from exports, tourism, remittances and logistics would be hit by the recent escalation of co

The representatives of Sri Lanka’s apparel sector will meet today to assess the impact of the coronavirus (COVID-19) outbreak on the industry, which is also in fear of going out of work in the immediate term, Mirror Business learns.

LankaClear, the operator of LankaPay denies recent rumours circulating in social media claiming that the security of ATMs of certain banks were compromised.

Norges Bank Investment Management, which manages Norway’s one trillion dollar Government Pension Fund Global, has increased its equity investments in Sri Lanka to US $ 114.4 million by the end of last year, compared to US $ 98.3 million at end-2018

Headline inflation as measured by the year-on-year (YoY) change in the Colombo Consumer Price Index increased to 6.2 percent in February 2020 from 5.7 percent in January 2020.

Sri Lankan authorities have expressed interest in a range of options for future engagement with the International Monetary Fund (IMF), but the specifics will be discussed after the next review in mid-April, the IMF said on Thursday.

The announced minimum daily wage of Rs.1, 000 for plantation workers is unlikely to come into effect on March 1 as decreed by the government, as wage negotiations with plantation firms and trade unions are yet to make a breakthrough with only a day r

Sri Lanka’s largest private lender in terms of assets, Commercial Bank of Ceylon PLC, yesterday said it is looking to further expand its global footprint and is in the midst of exploring the potential of setting up operations in Africa.

Hutch Telecommunications Lanka (Pvt.) Ltd, the third largest telco in the country, which has completed its island wide 4G rollout covering 90 percent of the population, says it is geared to compete with the two main mobile operators in the country on

Belluna Co. Japan and Asia Capital PLC, the developers of 447 Luna Tower recently met Prime Minister Mahinda Rajapaksa in Colombo for a discussion focused on the current Sri Lankan market and economy.

Japan’s Taisei Corporation has secured a US$ 560 million contract to build a new multi-level terminal building expanding the capacity of Sri Lanka’s Bandaranaike International Airport (BIA) to 18 million passengers per annum by end of 2023.

Despite the anticipated acceleration of economic activities and fiscal loosening, the deep tax cuts may create a challenge for the government to raise the estimated US $ 3-3.5 billion from external financing resources for external debt repayment, at

The project company of Colombo Port City (CPC), CHEC Port City Colombo, is set to kick off the global launch of the Colombo Port City project for investors at World Cities Summit 2020 in Singapore this July with first few developments of the project

Softlogic Holdings PLC returned to profit in the quarter ended December 31, 2019 (3Q20), recording a double-digit growth in the top line, as the diversified conglomerate with a strong retail footprint benefitted from the recovering consumer sentiment

Sri Lanka’s apparel exporters recently requested the authorities to revisit policies which restrict their access to the local market in order to develop their own brands, which can be later taken into the international market.

The ‘Wedding Show 2020’, an exclusive exhibition aimed at helping couples craft their picture-perfect wedding opened yesterday at the BMICH, coinciding with the month of love. The 3-day event is organised by A

Amid a fiscal deficit forecast of 7.5 percent of GDP this year, the government expects the State revenue to pick up from the second half of this year, driven by the anticipated uptick in consumption and investment activities from the announced tax cu

The employees and depositors of troubled The Finance Company PLC (TFC), which is now facing a licence cancellation, accused the financial sector regulator, the Central Bank (CB), for driving the firm towards a nearly Rs.20 billion hole in the balance

A steam locomotive, which left from Colombo Fort railway station on Sunday (09), reached Nanu-Oya railway station yesterday carrying 38 tourists from 12 countries.

Amid concerns over fiscal slippages and uptick in fiscal deficit, the Central Bank (CB) is mulling entering into a fresh programme with the International Monetary Fund (IMF), under the policy framework of the new government.

The International Monetary Fund (IMF) sounded fairly sanguine on the Sri Lankan economy and stated it was recovering from last April’s Eater attacks, supported by the solid performance of the manufacturing sector and a rebound in tourism. However,

Asian markets mostly fell yesterday after a week-long rally as investors take profits and assess developments in China’s deadly coronavirus crisis. Strong US data, Chinese financial support and a broadly healthy earnings season have provided a much

Cabinet of Ministers has approved a proposal to present a resolution to Vote on Account (VoA) in Parliament to settle arrears and to finalise the accounts for ‘out-of-the-books’ expenses incurred in relation to implementing projects utilising ext

SriLankan Airlines yesterday said it is rationalising its services to China in accordance with the current market conditions, with a temporary reduction of frequencies to several cities.

As Sri Lanka celebrated 72 years of Independence from the British colonizers, President Gotabaya Rajapaksa at the official National Independence Day celebration in Colombo, yesterday pledged to assure and enhance the political and economic freedom of