The Cabinet has cleared a draft bill to amend Intellectual Property Act No. 36 of 2003, which would allow the National Intellectual Property Office (NIPO) to register geographical indications (GI) on products that have specific geographical origins t

Macksons Bathware (Pvt.) Ltd, a unit of Macksons Holdings, has secured a 20-acre land plot in the Raigama Green Industrial Zone on long-term lease to set up a sanitaryware plant, with an investment of Rs.6 billion.

Sri Lanka will build four more flyovers in the Muththettugala railway crossroad and Hiripitiya junction, Pasyala junction, Negombo Maristella junction and Thalawathugoda junction, to reduce traffic congestion, with financing from Hungary.

The year 2022 has started off with a bang for the Maldives tourism sector, as over 24,000 tourists visited the country within the first few days of January.

Ceylon Petroleum Corporation (CPC) has agreed to provide 10,000 MT of diesel to the Ceylon Electricity Board (CEB), which would be sufficient for the generation of electricity for eight days, potentially averting the power cuts that were supposed to

Microsoft’s US $ 69 billion deal to buy video game powerhouse Activision Blizzard is expected to win out with regulators despite vows in Europe and the United States to rein in tech titans.

Sri Lankan shares inched higher yesterday as communication services and real estate companies rose, although weakness in the energy sector limited gains.

State Minister of Aviation and Export Zones Development, D.V. Chanaka said international flights would commence from Ratmalana airport from the 29th of this month.

H2O One announced that Deepthi Upul Sumanasekera, the former National Water Supply & Drainage Board (NWSDB) General Manager has joined the board of Directors of H2O One Private Limited.

Central Depositary Systems (Pvt) Ltd (CDS), a fully owned subsidiary of the Colombo Stock Exchange (CSE), has strengthened its client base for the provision of registrar services with the addition of Chrissworld PLC.

Dr. Prasantha Jayamanna, who was serving as the Vice Chairman of Sri Lanka Ports Authority (SLPA), has been promoted to the position of Chairman, according to the Ports and Shipping Ministry. Jayamanna will be replacing Capt. Nihal Keppetipola, a sh

India offered a new US$ 500 million credit line to Sri Lanka to fund fuel purchases, the Indian High Commission in Colombo said yesterday, as the island struggles to manage its worst financial crisis in years.

The Ceylon Electricity Board Engineers’ Union (CEBEU) has warned that the CEB could be forced to implement power cuts up to five hours per day over the next 2-3 months with the current power crisis intensifying due to inaction by the top CEB manage

The Central Bank of Sri Lanka (CBSL) is likely to raise interest rates at its first policy announcement in 2022 to tackle growing price pressures, manage external challenges and reduce pressure on the rupee, economists and analysts said.

Both manufacturing and services activities recorded expansions in the final month of 2021, the Purchasing Mangers’ Index (PMI) for the month of December showed.

State Mortgage & Investment Bank (SMIB), which has been recalibrating its portfolio away from the Employee Provident Fund (EPF)-backed loans is facing a Rs.1.7 billion equity deficit this year to meet the regulatory mandated minimum capital levels, w

The employees of Inland Revenue Department, Excise Department and Sri Lanka Customs yesterday staged a protest against the new Special Goods and Services Tax (SGST) in front of the Finance Ministry.

The Colombo Stock Exchange (CSE) yesterday achieved a major milestone as the market capitalisation crossed the Rs.6 trillion mark for the first time in history.

Sri Lanka will need to work towards attracting 60, 828 tourists in the coming two weeks to achieve the ambitious target of reaching 100,000 arrivals per month.

The Sri Lanka Tourism Development Authority (SLTDA) yesterday issued a fresh warning to some of the hospitality service providers, who have opted back for ‘foreigners only’ policy with the increase in tourist arrivals to the country.

Emirates has announced it will add five more flights to Sri Lanka, offering customers 26 weekly flights to Colombo, including a daily service from Male to Colombo. Starting from February 10, the added services will offer customers more travel choices

Ushering in the much awaited December quarter earnings season, Keels Food Products PLC (KFP) filed its interim results for the three months last week, which showed some robust growth in sales and profits although the margins ticked down due to rising

Daraz, South Asia’s leading e-commerce platform, has unveiled its new brand look building on a successful 2021 of significant progress for the company.

Tea Smallholder Factories PLC, a subsidiary of John Keells Group, fell into red in the three months to December 2021 (3Q22), recording the second quarter of consecutive losses, as the company continued to lose revenues from the beginning of the curre

Sri Lanka had a tough time during December in defending the rupee against a probable free fall against the dollar, amid a deepening foreign exchange crisis,

The market value of the listed equity portfolio of the Employees’ Provident Fund (EPF) as at end-December 2021 recorded a value of Rs.112 billion, against its cost of Rs.84 billion, thereby reflecting a substantial unrealised gain of Rs.28 billion

In contrast to the repeated claims made by the authorities, worker remittances income plummeted as much as 60 percent from the same month last year, extending the declining streak for the eighth consecutive month.

India and Sri Lanka should forge a larger strategic framework that builds on the Indian presence in key projects such as the Trincomalee oil tank farm and Colombo port and benefits both countries, Sri Lankan High Commissioner Milinda Moragoda has sai

With the usable foreign exchange reserves falling to US $ 0.9 billion ahead of the US $ 6.9 billion external debt-servicing obligations for the year,

The telecommunication services providers became the immediate winners during the last two years, when the pandemic pushed the economic activities online and forced people to shelter-in-place.