Sri Lanka’s industrial production slipped in November 2021, ahead of the key festive month, weighed down by the coke and refined petroleum, as the foreign exchange crunch worsened prompting a temporary closure of the country’s only refinery.

To unlock the potential of Sri Lanka’s digital economy and leverage advanced technologies, SLT-Mobitel, the national ICT solutions provider, signed a historic memorandum of understanding (MoU) with ZTE Corporation, a major international provider of

A key milestone in Sri Lanka’s ICT education was marked by the University of Moratuwa (UoM) and Dhammika & Priscilla Perera Foundation (DP Foundation) by signing a memorandum of understanding (MoU) recently to collaborate on the facilitation of ope

The 70th South Asian Federation of Accountants (SAFA) Board Meeting and Induction of the SAFA President for the year 2022 was held recently, hosted by the Institute of Certified Management Accountants of Sri Lanka (CMA), supported by the SAFA Secreta

Dulitha Perera took the oath of office and became the 41st President of the Organisation of Professional Associations of Sri Lanka (OPA), at its Annual General Meeting, held last week.

India has confirmed its support to Sri Lanka by way of a currency swap under the SAARC arrangement and a deferment of a previous loan.

Nestle Lanka PLC, the local unit of the Swiss food giant, is to borrow US$ 45 million from Nestle Treasury Centre-Middle East and Africa Ltd. (Nestle MEA) to cater to its foreign exchange requirements for this year.

While the worst of the pandemic on the South Asian economies including Sri Lanka may be their behind, the region is still vulnerable to rising consumer prices, financing conditions and the evolving Omicron variant of the coronavirus pandemic, accordi

The used car market in the United States is seeing an unprecedented phenomenon: owners selling vehicles for as much or more than they paid for them.

Sri Lanka Telecom PLC yesterday announced the appointment of Janaka Abeysinghe as the Chief Executive Officer (CEO) with effect from February 1, 2022.

The government should tell the nation as to how it is going to service the massive debt liabilities falling due for this year, as all the three global rating agencies have downgraded Sri Lanka’s sovereign rating deeper into junk territory—latest

The government can continue to remain stubborn on not going to the International Monetary Fund (IMF) for a bailout, only if the underutilised State-owned asset sale process is expedited significantly in the near future, a leading Colombo-based invest

President Gotabaya Rajapaksa and Prime Minister Mahinda Rajapaksa yesterday inaugurated the second phase of the construction of the East Container Terminal (ECT),

While expressing confidence in meeting the external funding targets set out in the six-month road map, the Central Bank plans to unveil a new nine-month programme by the end of this March to continue with its debt restructuring efforts, with the over

The government has started negotiations with China for a new loan facility to cushion the upcoming debt repayments to that country.

The initial public offering (IPO) of Hela Apparel Holdings Limited (Hela Clothing), one of the largest IPOs ever in Sri Lanka, received an overwhelmingly positive response, being oversubscribed within hours of the offer opening, yesterday.

Although 2021 ended as the year with a record number of initial public offerings (IPOs), the issuers have failed to appeal to a broader investor base, as none of the IPOs were able to garner subscriptions from a large number of investors.

Sri Lanka’s tourism sector has witnessed a great start to the new year, with the country being successful in attracting over 29,000 international visitors within the first 10 days of January. The Sri Lanka Tourism Development Authority (SLTDA), in

Sri Lanka is the poster child for China’s so-called “debt trap diplomacy”, so asking Beijing for easier repayment terms looks logical amid a worsening financial crisis.

Orriss Ceylon (Pvt.) Ltd, carrying out its food and beverage business under the name ‘Chaiwala Colombo’ at the outlets located on Marine Drive and in Colombo,

Selendiva Investments Ltd has called for Expressions of Interest (EOI) from investors for the development of the over 150-year-old iconic heritage properties Grand Oriental Hotel (GOH) and York Building as a high-end international boutique hotel.

The Institute of Internal Auditors (IIA) Lanka Chapter, which is an affiliate of IIA Global based in the USA, elected its new executive committee, at the virtual Annual General Meeting held recently.

German frigate Bayern will arrive in Sri Lanka on January 15 and will be docked at the Colombo Port till January 18, 2022.

Ambeon Holdings PLC announced the appointment of Dr. Sajeeva Narangoda as Executive Director to the holding and management company Ambeon Holdings PLC.

Acorn Group entered into a strategic partnership with ASL Logistics to launch Fortiz Logistics International (Private) Limited, a fully licensed logistics provider spanning multi-faceted industries serving sea, air and land, at an official ceremony h

The initial public offering (IPO) of Hela Apparel Holdings Limited, the holding company of the Hela Clothing Group, is set to open today.

The International Monetary Fund (IMF) this week announced the appointment of Pierre-Olivier Gourinchas as the Fund’s Economic Counsellor and Director of the Research Department (RES).

SriLankan Airlines yesterday said it reported a company level profit of US$ 9.25 million and a group level profit of US$ 10.66 million for December 2021, which is the first profitable month for the airline since the onset of the pandemic in early 202

Producer prices, the nearest proxy for inflation at producer level, continued to accelerate in November stoking concerns of how much of this could get passed down to the end consumer and for how long, as the country’s prices are currently at their