Leading entrepreneur and exporter, Prabhash Subasinghe assumed duties yesterday as the new Chairman of Export Development Board (EDB).

Fitch Ratings yesterday revised the Outlook on Sri Lanka’s ‘B’ rating to Negative from Stable on debt repayment concerns arising from the recent economic stimulus announced by the government by slashing taxes significantly, which is set to leav

Sri Lankan authorities yesterday strongly disputed the Fitch Ratings move to revise the country’s rating outlook to ‘Negative,’ and said it was hastily done without considering facts on the ground.

In line with his vision for a technology-driven Sri Lanka, President Gotabaya Rajapaksa has appointed a tech-studded board for the Information and Communication Technology Agency of Sri Lanka (ICTA), featuring industry leaders, technology entrepreneu

A consortium of investors put together by Tempest PE Partners (Pvt) Ltd has acquired a 75 percent stake in specialist cable manufacturer, Cable Solutions (Private) Limited (CSOL), from three of its foreign shareholders for Rs.710 million.

Earnings of the 264 companies listed on the Colombo Stock Exchange declined by 9.6 percent year-on-year (YoY) to Rs.45.8 billion during the September quarter, though slightly better than the previous quarter, and considerably better than March 2019 a

Sri Lanka’s economy grew 2.7 percent in the third quarter of 2019, partially recovering from the Easter Sunday attacks, driven by notable expansions in industry and services activities, although the tourism industry struggled to achieve significant

Our hearts sank as we looked at the Hurricane Katrina-affected house, now the Flooded House Museum in the City of New Orleans, United States. Our team from the World Bank was accompanying Sri Lankan officers visiting New Orleans in October 2019, to l

Corporate leader and former John Keells Holdings (JKH) Chairman Susantha Ratnayake has been appointed as Chairman of the Board of Investment (BOI). Ratnayake

Leading entrepreneur and exporter, Prabhash Subasinghe has been appointed as Chairman of the Export Development Board (EDB). Subasinghe functioned as an EDB board member, previously.

Deputy Secretary to Treasury A.R. Desapriya, who was appointed as Chairman of the Securities and Exchange Commission (SEC) earlier this month, has tendered his resignation, Mirror Business learns.

In a survey to find out if an enabling environment is available for cross-border e-commerce sales, Sri Lanka leads South Asia in most rankings, almost on par with India in certain areas, but the region la

Troubled finance firm, The Finance Company PLC (TFC), which has been issued a notice of cancellation of licence by the Central Bank, yesterday said there were inquires from interested parties considering making an investment in the firm, albeit such

The World Bank (WB) has approved a US $ 25 million loan to the Government of Sri Lanka (GOSL) to improve the transparency and efficiency of core government and public financial management functions. The Public Sector Effi

The government will establish a new national development bank under its emergency relief package to provide concessionary rate loans to encourage identified sectors ranging from import-export trade, construction, small and medium enterprises (SMEs) a

Cinnamon Hotels and Resorts has completed its third and final hotel opening for 2019 with the reopening of Cinnamon Hakuraa Huraa Maldives on Monday following refurbishments.

The United States embassy in Colombo yesterday cautioned US citizens hoping to visit Sri Lanka during the upcoming holidays.

Softlogic Finance PLC successfully raised Rs.602 million of new equity by way of a rights issue in the proportion of 12 new shares for every 23 shares held at an issue price of Rs.17 per share, creating 35,440,896 new shares increasing the total numb

Dialog Axiata PLC yesterday in a stock exchange filing announced the incorporation of Dialog Network Services Limited as a fully owned subsidiary to house the group’s network related business activities.

Singapore-based fashion platform Zilingo has acquired Sri Lanka-based software-as-a-service (SaaS) firm nCinga Innovations for US$15.5 million in cash and stock, which is being dubbed as the third-largest tech exit in Sri Lanka.

Sri Lanka’s manufacturing activities expanded at a slower pace in November while activities in the services sector reached a 16-month high with expectations over a greater stability in the political front.

(The Hauge) AFP: Anglo-Dutch consumer giant Unilever, the maker of Magnum ice cream and Dove soap, warned Tuesday that sales will grow below expectations for 2019, due largely to a slowdown in South Asia.

Remittances are often considered a stable and reliable source of development financing. In 2018, remittances to Sri Lanka totalled to US $ 7.015 billion. At macro level, the contribution of remittances to the Sri Lankan economy is immense.

The whole issue of Uber and the recent reports on mainstream and social media on assaults by Uber drivers on unsuspecting passengers has spread across the world – from the USA, India and now to Sri Lanka. The recent assault of a passenger by an Ube

Advantis Bunkering, the bunker supply arm of transportation and logistics giant Hayleys Advantis Limited, has commenced offering IMO2020 grade very low sulphur fuel oil (VLSFO) in Sri Lanka, becoming the first Sri Lankan company to offer this new gra

Expectations run high on further easing of interest rates in December and in the months that follow, as the lending rate caps take effect and the recent sweeping tax cuts factor into the real economy.

Corporate leader Kimarli Fernando has been appointed as Chairperson of the Sri Lanka Tourism Development Authority (SLTDA), Sri Lanka Tourism Promotion Bureau (SLTPB) and Sri Lanka Convention Bureau (SLCB).

Sri Lanka’s Confederation of Micro, Small and Medium Industries (COSMI) yesterday hailed the government’s recent decision to block the re-export of minor export crops.

Dynamic business leader Ashok Pathirage has been appointed as the new Chairman of the national carrier SriLankan Airlines.

SriLankan Airlines said it is adding 18 more new cities in Europe, North America, South America and the Middle East through the expansion of its codeshare agreement with its oneworld partner Qatar Airways, bringing its global route network to 127 des