WindForce Limited, the pioneers in the growth and supply of renewable energy in Sri Lanka, yesterday announced an Initial Public Offering (IPO) that aims to raise Rs.3.24 billion to fund its strategic expansion and growth in the renewable energy sec

Treasury Secretary S.R. Attygalle on March 1 met with members of Tile Importers Association and local tile manufacturers to discuss the industry’s way forward.

Sri Lanka’s first National Financial Inclusion Strategy (NFIS), launched yesterday aims to make financial services more accessible, efficient, and affordable for all households and businesses in the country.

The ‘Global Communication Campaign’, conceptualized to promote Sri Lanka as a tourism destination, will see its launch expedited as the island nation eyes to capitalize on first-mover advantage in being among the first countries to open doors to

Stakeholders of the local tourism sector will receive COVID-19 vaccination in the coming weeks via a special programme, an effort taken to allow the industry to return to normalcy.

ICRA Lanka Limited has assigned the issuer rating of [SL]AA- (Pronounced SL double A minus) with Stable outlook for Windforce (Pvt) Limited (WPL).

Sri Lankan shares plunged to a two-month low yesterday, further shrinking their early 2021 gains, as rising U.S. bond yields shook global stock markets.

The government revenues in the 11 months to November 2020 recorded a sizeable deficit compared to the same period in 2019, as the pandemic took a massive toll on business and personal incomes but the final three months of the year showed such revenue

China-backed multilateral lender Asian Infrastructure Investment Bank (AIIB) yesterday dismissed criticisms that the East Asian powerhouse is using loans to make countries fall into a “debt trap”, amid lingering concerns and distrust over Beijing

Sri Lankan shares dropped to their lowest in more than seven weeks yesterday as financial stocks slid ahead of the Central Bank’s decision on interest rates.

Despite the endless drumbeat of economic calamity about to befall due to public debt, particularly the foreign currency-denominated debt, the data showed that the government had paid down a sizeable amount of foreign debt during 2020 and also in 2021

Tourist arrivals to Sri Lanka for the month of February nearly doubled from the January figures, with a total of 3,366 travellers having visited the island nation.

First Capital Research (FCR) this week asked those who have put their money into long-term bonds to ‘hold’ them until the picture becomes clearer on how the future yields would behave, a change from their earlier recommendation to ‘sell’, in

Amidst concerns on the slow progress made over the implementation of large-scale development projects in 2020, the Cabinet of Ministers decided appoint a committee chaired by State Minister for Money & Capital Market and State Enterprise Reforms, Aji

The government borrowings from the Central Bank and the licensed commercial banks accelerated during January for the second month in a row after some slowdown seen in November last year as the State is making the most of the historically low interest

The official announcement of the initial public offering (IPO) of Windforce (Pvt) Ltd. is expected on the Colombo Stock Exchange (CSE) this week, Mirror Business learns.

Laxapana Batteries PLC is entering the renewable energy business. Having evaluated prospects in this space, the company has stated its intentions to invest over Rs. 1 billion in generating renewable energy from rooftop solar projects.

Despite opposition from planters and private sector tea factory owners, the Wages Board for Tea and Rubber Growing and Manufacturing Trade on Monday gave the final approval for the Labour Ministry to implement the Rs.1, 000 minimum daily wage for ind

Cabinet nod has been received to appoint an Inter-institutional coordination committee compromising of industry players engaged in raw rubber manufacturing and rubber-based products as a joint endeavour to develop the sector while solving current iss

Vehicle registrations continued to languish in January, similar to that of last few months, as the government’s clamp down on vehicle imports, aimed at supporting the currency and the country’s foreign reserves position, persists.

Sri Lanka earned US $ 3.6 million from the tourism trade for the month of January, after opening its borders for international travellers on January 21.

With the economic activities and credit growth picking up pace, the Monetary Board of the Central Bank (CB) is likely to hold its key policy rates steady at their current levels, according to First Capital Research (FCR).

Leading supplier of renewable energy to the national grid Panasian Power PLC recently commissioned a 3MW ground solar plant in Matara, worth a total investment of Rs.420 million.

Vidullanka PLC yesterday said it completed the acquisition of a 51 percent stake in Orik Corporation Private Limited, which holds the rights and approvals to develop a 1MW ground-mounted solar power plant in Moneragala.

Despite the earlier objections from the private sector, the upper limit of compensation under the Termination of Employment of Workman Act (TEWA) has been increased from Rs.1.25 million to Rs.2.5 million, with effect from February 19, 2021, the Labou

Sri Lanka’s gem and jewellery industry says the US $ 1 billion export target set for the industry will be impossible to achieve, given the non-implementation of the polices that were approved by President Gotabaya Rajapaksa and endorsed by Prime Mi

The share of foreign debt in the government’s overall debt stock declined to 40 percent at the end of 2020 from over 48 percent at end 2019, under its innovative policy measures to service current debt obligations while reducing reliance on externa

Sri Lanka’s vehicle importers have called on the government to pay heed to their concerns, and stressed it is time to conceptualize a plan to rescue the automobile imports sector from collapsing.

Consumer prices in Colombo rose in February predominantly due to the increase in food prices, even amid the record rice harvest and surge in other domestic produce since the onset of the pandemic last year.