CEAT Kelani Holdings has announced an 85 percent increase in the production of tyres for the ‘two-wheeler’ segment over just three months, as a full-bodied response to the needs of the local market consequent to the temporary import restrictions

Eden Hotel Lanka PLC, a unit of LOLC Group, is to raise Rs.4.2 billion fresh equity through a rights issue to rectify a serious capital loss, as the equity of the hotel company has eroded to less than 50 percent of its stated capital.

Sri Lanka’s willingness to lend, which recorded a continuous decline in every quarter since fourth quarter of 2018 has staged a substantial rebound in the second quarter this year with expectations for further desire to lend in the third quarter—

Big oil producers are pinning their future growth on the world’s insatiable appetite for plastic, researchers said yesterday, in a “bet” on society’s failure to tackle disposable consumption that risks stranding billions of dollars in petroc

In an unprecedented feat among the titans of the hospitality industry in Sri Lanka, all three properties owned and operated by Citrus Leisure PLC secured three international travel accolades. Citrus Waskaduwa, Citrus Hikkaduwa, The Steuart by Citrus

Malaysia has dropped criminal charges against Goldman Sachs over its role in the 1MDB scandal, a lawyer for the bank said yesterday.

President Gotabaya Rajapaksa recently reviewed future stages of the programme to provide clean drinking water to all households for all 24-hours of the day, before the end of 2025.

The COVID-19 crisis will dramatically increase the poverty rate for women and widen the gap between men and women who live in poverty, according to new data released by UN Women and the United Nations Development Programme (UNDP).

Amazon will create 7,000 permanent jobs in the UK by the end of the year, the US e-commerce giant announced Thursday as the coronavirus pandemic fuels online shopping while hurting bricks-and- mortar businesses.

Asian markets fell deep into negative territory yesterday following painfully deep losses on Wall Street, where the tech sector finally succumbed to profit-taking after months of mind-boggling gains.

Sri Lanka’s total outstanding public debt has risen by little over a trillion rupees during the first six months of 2020 as the government ramped up borrowing to fend off the effects of coronavirus on the economy.

The government has decided to increase the cultivation of maize to make up for the imports, as feed millers and poultry producers remain hamstrung by the import ban in place on the key poultry feed since the beginning of this year. To this effect, t

Aitken Spence Hotels’ premier all-inclusive resort in the Maldives, Heritance Aarah, received the rare honour of being listed a BBC Travel Partner; the first resort in the Maldives to receive the recognition.

Local motorcar dealers, whose business has taken a hit due to the ban imposed on vehicle imports, asserted that the government’s decision to allow permit holders to purchase unregistered vehicles using the concession is impractical and unjust. Shar

Continuing its descent further, Sri Lanka’s prime lending rate logged a sharp 32 basis points (bps) fall last week, bringing the popular benchmark rate used in pricing loans mainly for big and mid-sized corporates close to its all-time lows in over

Singer, Sri Lanka’s premier consumer durables retailer, has partnered with Signature Group, Malaysia’s largest kitchen cabinet and wardrobe manufacturer.

President Gotabaya Rajapaksa will chair a high-powered ministerial committee consisting of both Cabinet and State Ministers, whose task is to promote investments for import substitution and exports in line with President’s ‘Saubhagya Dakma’ ele

Softlogic Life Insurance PLC, a unit of Softlogic Holdings PLC and the country’s third largest life insurer, yesterday said it finalised two landmark deals to the tune of US $ 30 million (Rs.5.6 billion).

CIMA, the world’s leading and largest professional accountancy body, yesterday launched ‘Hundred & 10%’, CIMA Sri Lanka’s first-ever virtual career festival.

The government is planning to increase the export earnings of coconut up to US $ 1 billion during the next five years, Plantations Minister Ramesh Pathirana said yesterday.

Sri Lanka’s insurance regulator has suspended dividend payments to the shareholders of insurance companies to minimise any potential near-term impact on insurers’ capital levels due to disruptions to their business by way of loss of premium incom

Australia tumbled into its first recession for almost three decades with its pandemic-crippled economy shrinking a record 7 percent in the second quarter, official data shows.

Leading turmeric importers in the country in a letter addressed to President Gotabaya Rajapaksa and Prime Minister Mahinda Rajapaksa had requested their assistance in releasing one million kilogramme of turmeric already imported to the country and ly

India’s economic growth suffered a historic 23.9 percent decline between April and June, official figures showed Monday, as manufacturing and productivity were battered by a strict coronavirus lockdown.

Canada-based Ceylon Graphite Corp., which is involved in the exploration and production of graphite in historic resource jurisdictions in Sri Lanka plans to invest US$ 6.2 million to develop new sites and start upgrading its natural graphite.

Manufacturers and exporters of rubber products in Sri Lanka charge that mafia middlemen are trying to artificially manipulate raw rubber prices by hoarding stocks and lobbying the government to control imports, so that their stocks could be sold at h

Cargills (Ceylon) PLC has announced the appointment of Asite Talwatte as an Independent Non-Executive Director of the Company with effect from August 28.

The National Chamber of Exporters (NCE) being a strong advocate for sustainable and ethical trading practices, which also includes ensuring employee safety of exporting industries, safety of the clients and continuous hygienic practices, is of the vi

Italy posted a record economic contraction yesterday as household spending and investment crashed during the country’s coronavirus lockdown, driving the eurozone’s third-largest economy deep into recession.

Trade Minister Bandula Gunawardena declared that it is only through increasing exports the Sri Lankan economy, which has been challenged by foreign debt servicing, can be salvaged in order to realise a better future for the country’s next generatio