HONG KONG (AFP) - Optimism over the China-US trade talks kept Asian markets buoyant yesterday, with investors betting the two will eventually sign a partial deal, though they remain nervous as next week’s deadline for fresh tariffs draws closer. S

SAN FRANCISCO (AFP) - Ridesharing leader Uber, under fire around the world for its safety record, said it had tallied nearly 6,000 sexual assaults in the United States over the past couple of years. That included more t

PARIS (AFP) - Financial institutions have chanelled US$745 billion over the past three years to new coal power projects worldwide despite effort to reduce fossil fuel use to fight climate change, a report released this week said. The amount was calcu

The construction industry yesterday lauded the government for cancelling the requirement of a permit for the transportation of sand, gravel and clay which only added to red tape and corrupt practices, according to the sector players.

The Hambantota International Port (HIP) had a busy week with 6 RORO ships calling at the port, discharging 18,288 vehicles of which 16, 830 were for transshipment and 1, 458 were for local agencies. The discharging operations for these vessels were c

Singhe Capital Investment Limited yesterday acquired the controlling stake in Sinhaputhra Finance Limited PLC (SFL) for Rs.300 million as part of a capital infusion deal involving the Kandy-based finance firm. During early trading

Sri Lanka has been able to significantly minimize the hit on tourist arrivals in the month of November following Easter Sunday attacks in April, which dealt a crippling blow to the country’s booming tourism industry.

Orient Finance PLC, a unit of Janashakthi group, yesterday announced plans for Rs.506.6 million rights in order to raise money to meet regulatory capital requirements. To this end, the company plans to issue 35.2 million new ordinary voting shares in

Sri Lanka’s new government will have to undergo an “incredibly difficult balancing act” to incorporate the recently introduced economic stimulus package to the system without undermining fiscal and debt sustainability in a global environment, w

With environment, social and governance (ESG) factors becoming vital determinants of investment decisions, it is crucial for Sri Lanka’s listed firms to effectively measure and communicate ESG performance and impacts to their stakeholders.

INSEE Cement Sri Lanka yesterday said that it would be passing on the tax reduction benefits to its consumers and industrial customers.

The government has increased excise taxes to maintain the overall taxes on cigarettes, effective from December 1, following the reduction in the Value-Added Tax (VAT) and abolishing of the Nation Building Tax (NBT).

The Ceylon Chamber of Commerce (CCC), the country’s premier representative of the private sector, yesterday said it is optimistic that the revisions of taxes and levies announced by the new government would stimulate the economy.

(Colombo) REUTERS: Sri Lankan shares dipped yesterday, weighed down by consumer staple companies and as foreign selling dented sentiment, while the rupee ended stronger.

In its series of recommendations from page 911 to page 922 of its report, the Presidential Commission to Inquire into the Bond Scam (Bond Commission) has, inter alia, recommended as follows:

Sri Lanka’s largest international bank, HSBC Sri Lanka and International Union for Conservation of Nature (IUCN) have joined hands to develop a cohesive low carbon development transition strategy for the local apparel industry. The strategy aims to

ECONOMYNEXT: Sri Lanka’s tax cuts could cost around Rs.500 to 550 billion a year, but will boost economic growth and future tax revenues, State Minister for Investment Promotion Keheliya Rambukwella said. “According to our calculation, we may los

NEW YORK (Reuters) - The New York Stock Exchange (NYSE) said yesterday it had filed with the U.S. Securities and Exchange Commission to allow companies going public to raise capital through a direct listing, instead of an initial public offering. Th

Sri Lankan insurers’ risk-based capitalisation (RBC) ratios have fallen with the adoption of new accounting standards for lease contracts; SLFRS 16, the local equivalent of IFRS 16, Fitch Ratings says.

Dialog Axiata Group and Daraz Sri Lanka have entered into a strategic partnership to collaborate on digital commerce.

The Finance Ministry yesterday said this year’s budget deficit is likely to settle around 7 percent of gross domestic product (GDP) due to significant dip in revenue amid slow growth and increase in election-related spending.

The government plans to provide immediate debt relief to the struggling small and medium-sized enterprises (SMEs), microfinance borrowers and to the borrowers in the agricultural sector.

Colombo’s upcoming major mixed development, Cinnamon Life, yesterday announced the visit of the legendary emerging market investment pioneer, Dr. Mark Mobius, for an exclusive breakfast forum hosted by the premier lifestyle brand.

Sri Lanka’s fruit and vegetable producers, processors and exporters recently urged the government to enact the long-delayed Plant Varieties Protection Bill, commonly known as plant breeder’s rights law, to boost fruit and vegetable exports by att

The Monetary Board of the Central Bank has granted the approval to cancel the licence issued to Lankaputhra Development Bank Limited (LDBL), with effect from April 1, 2019, with the completion of the merger of LDBL with Pradeshiya Sanwardhana Bank (P

(Colombo) REUTERS: Sri Lankan shares closed nearly unchanged yesterday, steadying at a 17-month high hit in the previous session, as positive sentiment surrounding tax cuts by the country’s new government continued to cheer investors, while the rup

The Ceylon Motor Traders Association (CMTA) yesterday confirmed that the sole authorised dealer for Audi in Sri Lanka, Drive One (Pvt.) Ltd, was not in any way involved in the alleged duty fraud that has cost the government a large sum of money.

The leading provider of cement in the country, INSEE Cement Sri Lanka, has created a commendable milestone in its corporate journey by introducing an i2i (innovation to industry) open collaboration space to upgrade the national construction industry.

Grit Property Group, a reputed global commercial and residential real estate investment and management firm, will be hosting a property investment and migration workshop targeting individuals, families, investors and companies wishing to diversify th

An increasing number of families are now opting to move to luxury apartments in search of a self-contained environment with easy access to essential facilities like quality schools, hospitals and the airport.