Following the debut of Prime Lands Residencies’ Initial Public Offering (IPO) yesterday (11), the company’s oversubscription forecasts proved to be true as the initial 100 million shares were purchased in record time.

The Cabinet of Ministers granted approval for the Finance Ministry to enter into an agreement with the Asian Development Bank (ADB) to borrow US$200 million under the third tranche of the second consolidated highways investment programme.

Business tycoon Harry Jayawardena was recently hosted at the Port City Colombo project development site by Executive Project Management Director Raja Edirisuriya.

First Capital Research (FCR) said the new capital injections will give National Development Bank PLC (NDB) the much sought-after heft to expand its loan book by as much as 14 percent in the fiscal 2021 and 2022, nearly doubling the rate the bank expa

While the country’s health sector is pushing for more restrictions on the daily lives of people, citing the rising COVID cases, there is a widespread pushback building up from multiple sectors of society as small businesses are being pushed to the

Prime Lands Residencies, the condominium property arm of Prime Group, opens its initial public offering (IPO) today, May 11, 2021.

Although trade relations between Sri Lanka and Germany have grown deeper over the years, there still prevail untapped markets, specially in the organic products segment, senior representatives of the Delegation German Industry and Commerce in Sri Lan

In order to further strengthen the economic cooperation between the two countries,

Sri Lanka’s tax income during the first fiscal quarter has only narrowly missed the target set for the period, in a clear sign of robust economic recovery staged in the first three months of the year, which came with the return of normalcy.

The Finance Ministry has issued a gazette notification allowing the importation of certain agrochemicals including a range of herbicides under special import license regulations after 6th of this month.

The stubbornly high rice prices notwithstanding maximum retail prices set by the government and the record paddy harvest reflect the higher market power exerted by a few rice millers, said the Central Bank.

Global business consulting and IT outsourcing company, Virtusa Corporation, which was founded in Sri Lanka, will see its chief Kris Canekeratne pass on the leadership baton, ending a 25-year run with the company.

Sanasa Development Bank PLC (SDB bank) nearly tripled its profits in the three months ended in March 2021 (1Q21) on robust growth in loans,

The World Bank has launched public consultations to update its Systematic Country Diagnostic (SCD) in Sri Lanka.

Sri Lanka’s credit card spend continued to advance through March, according to data released by the Central Bank.

The success of the highly debated Colombo Port City is all about implementation, for which relevant agencies must step up their efforts to ensure the development project does not lose investors to regional competition, a top minister said.

Sri Lanka’s foreign currency buffer rose in April after the country took receipt of the second tranche of the China Development Bank (CDB) loan soon after the New Year holidays, propping up its foreign reserves.

The Free Trade Zone Manufacturers’ Association (FTZMA) yesterday alleged that the Board of Investment (BOI) has turned a deaf ear to its repeated complaints regarding the discharge of wastewater at the Horana export processing zone (EPZ) and the co

The Asian Development Bank (ADB) adopted this week a resolution to allocate US $ 1.13 billion in net allocable income from 2020 ordinary capital resources, making it the highest ever in ADB’s history.

Huge COVID-19 outbreaks in India, Brazil and Turkey have put developing economies at the epicentre of the pandemic but their reluctance to fully lock down combined with hopes of vaccine progress globally appear to be desensitising markets.

The government has decided to waive off landing and parking fees for international flights to Mattala International Airport for two years, Tourism Minister Prasanna Ranatunga said.

The staff of aviation and airports, being among the most vulnerable in the current pandemic, will be given the second dose of the COVID-19 vaccine from next Monday onwards, said Aviation and Investment Zone Development State Minister D.V. Chanaka.

The Laugfs Lubricants state-of-the-art laboratory located in the Malwatta BOI Zone has recently been accredited with the ISO/IEC 17025:2017 certification, a recognition of compliance with international standards for laboratory testing, from the Sri L

Holidaymakers in England are to find out which “green list” countries they can visit without quarantining on their return later this afternoon.

A new initiative to connect innovation and start-up ecosystems has partnered with over 20 incubators and accelerators in Sri Lanka and Europe, the EU said.

The Asian Development Bank (ADB) expressed strong confidence this week in the Asia Pacific region emerging from the pandemic stronger than before provided that required emphasis is given to five key areas.

The Colombo Stock Exchange (CSE) has performed exceptionally well in the past 12 months with the All Share Price Index (ASPI) appreciating more than 55 percent and the S&P SL 20 Index appreciating more than 44 percent. In 2021,

The Solar Industries Association of Sri Lanka (SIASL) is charging that the Ceylon Electricity Board (CEB) is attempting to cut solar power generation of new rooftop solar power projects on commercial establishments by as much as 50 percent while the

Sri Lankan shares closed higher yesterday, helped by gains in financial and consumer staples stocks. The CSE All-Share Index climbed 0.59 percent to end at 7,188.09, its second straight day of gains.

Sri Lanka’s ranking in the Economist Intelligence Unit’s (EIU) latest Inclusive Internet Index has fallen to new all- time-low driven by continuous deteriorations in key indicators such as ‘support for digital literacy’ and steep decline in t