The Cabinet of Ministers this week gave permission to allocate land plots to 22 investors from eight industrial zones, to initiate their projects worth over Rs.24 billion, which are expected to generate 3,326 direct employment opportunities.

State-controlled Sri Lanka Telecom PLC (SLT) fared better in the three months ended December 2020 (4Q20), as the telecommunication industry rode on the pandemic-fuelled demand for data and other virtual connectivity services, with people mostly hooke

Access Engineering PLC continues to push its top and bottom lines higher, as the group fared well in its most recent quarter ended on December 31, 2020 (3Q21), recovering from the pandemic-induced setbacks on the construction sector.

The Cabinet of Ministers this week cleared the path to award the remaining tenders to the selected bidders of the 150 MW solar power project of the Ceylon Electricity Board (CEB).

A working economy and a healthy growth in loans would keep the credit costs and non-performing loans (NPLs) under check, as the banking sector in Sri Lanka has largely shown its resilience before the adversities thrown in by the pandemic last year.

Gulf Air, the national carrier of the Kingdom of Bahrain will resume direct operations to and from Colombo’s Bandaranaike International Airport (BIA) with two weekly flights starting from February 15 on its new Airbus A320neo aircraft.

LOLC Holdings yesterday announced a plan to raise up to Rs.10 billion via a listed debenture issue.

Swiss Singapore Overseas Enterprises (Pvt) Ltd, a unit of India’s Aditya Birla Group and Singapore-based Agricultural Resources and Investments (Pvt) Ltd.have secured tenders to supply chemical fertilizer to the Ceylon Fertilizer Company (Lak Pohor

The Cabinet nod has been received to review the trade pacts that are under negotiation, and to explore possibility of entering into new bilateral and multilateral trade pacts.

The European Union (EU), Sri Lanka’s second largest trading partner, yesterday called on local industries to step up efforts in competing with regional peers to retain the market share of the 27 member states, and stressed greater focus is required

President Gotabaya Rajapaksa yesterday made an inspection visit of the model stalls that are being built for the vendors at Galle Face Green. Built by the Sri Lanka Navy, these stalls are expected to enhance the beauty of Galle Face Green.

The local banks have begun to show some reluctance towards lending to new borrowers, as they grow wary of the interest rates, which they deem too low for them to make money, while a case is building up for a possible uptick in rates in the near futur

State-owned entity Lanka Sugar Company (Pvt.) Ltd (LSCPL) has embarked on an ambitious endeavour this year, with plans being actively rolled out to venture into ecotourism.

The Institute of Certified Management Accountants of Sri Lanka (CMA) will conduct a webinar on ‘The Sri Lankan Economy: Challenges and Prospects’ today, from 11:00 a.m. to 12:00 noon, via Zoom online platform.

Oil prices rose yesterday to their highest in just over a year, with Brent futures nudging past US $ 60 a barrel, boosted by supply cuts among key producers and hopes for further U.S. economic stimulus measures to boost demand.

Balasuriya family-controlled Senkadagala Finance PLC has announced a rights issue to raise Rs.362.3 million to beef up its capital position in order to comply with the regulatory capital requirements.

Steps will be taken to set up tourism training schools at district level, in line with President Gotabhaya Rajapaksa’s policy document ‘Vistas of Prosperity and Splendour’, Tourism Minister Prasanna Ranatunga said.

The German government recently announced that it is ready to part finance ventures up to 50 percent of the investment in projects, in a number of sectors, which meet both commercial and development goals.

The All Share Price Index (ASPI) has retained its position as the best performing primary stock market index in the world with the index closing trading on February 5, 2021 at 8,275.37 points, marking a 22.16 percent growth year-to-date (YTD).

The mandatory offer to purchase the remaining shares of On’ally Holdings PLC by its new controlling shareholder, Lanka Realty Investments PLC, had drawn lackluster interest with the second largest shareholder of the company, Urban Development Autho

The Maldives has recorded 92,103 tourist arrivals in January 2021. According to the Maldives’ Ministry of Tourism, the island nation witnessed a daily average tourist arrival of 2,971.

Resuming regular international flights, Mattala Rajapaksa International Airport (MRIA) on Saturday welcomed services of Kazakhstan’s national carrier, Air Astana. The first Air Astana flight, an Airbus 321 arrived at 10.28 a.m. with 160 passengers

Sri Lanka is ranked top among the countries in Asia, which have achieved human and economic development relative to the damage done to their environment and the climate.

The government has decided to enter into a bilateral social security agreement with the Indian government, allowing Sri Lankan migrant workers employed in India to directly contribute to the Employees’ Provident Fund (EPF), which will exempt the re

Sri Lanka has welcomed a total of 1,682 tourists for the month of January, recording a 99.3 percent decrease in arrivals compared to the corresponding month in 2020.

Aitken Spence Travels, the leading DMC in Sri Lanka, working in partnership with TUI Kazakhstan, will welcome the country’s first charter from Kazakhstan today (February 6) after the airports reopened for tourist arrivals.

Colombo City Centre, the premier waterfront mixed development project in Sri Lanka, has appointed Praveen Methil as the new CEO, who holds a wealth of experience spanning 24 years in real estate development, mall management and operations, brand buil

Shares of GameStop Corp and others favoured recently by retail investors fell further on Thursday, while U.S. Treasury Secretary Janet Yellen said she needed to “understand deeply” the trading frenzy that has gripped Wall Street.

SriLankan Airlines, the national carrier of Sri Lanka and a member of the prestigious oneworld alliance, joins in the celebrations of the country’s 73rd Independence Day, with the release of a video containing a trilingual narration, delivered by a

The Institute of Policy of Studies of Sri Lanka (IPS) hosted a virtual panel discussion on the ‘Recovery of Sri Lanka’s Apparel Sector from COVID-19 Crisis’, on February 2, 2021.