During the first quarter of 2019 (1Q19), the Sri Lanka Telecom Group (SLT) reported a net profit of Rs.2.20 billion, which is the highest ever during the first quarter of any year, with a remarkable 86.8 percent YoY growth compared to the same quarte

HONG KONG (AFP) - The increasingly fractious trade row between China and the United States was the main focus of Asian investor angst yesterday, with most markets down to extend the previous day’s steep losses, though oil edged back from a painful

Charmarie Maelge has been appointed as the Managing Director Sri Lanka Tourism Promotion Bureau (SLTPB) on May 23rd. Charmarie has started her tourism career as the Director Marketing for the Tourist Board, subsequently taking over the roles of Dire

LONDON (AFP) - Facebook has been in contact with US and British financial regulators with a view to launching its own cryptocurrency next year, the BBC reported yesterday. “GlobalCoin” would work with a new digital payments system in about a doz

REUTERS: Sri Lankan shares snapped five straight sessions of gains yesterday in low trade amid worries over economic slowdown and lack of investor appetite for risky assets. Traders said the Easter day bombings and aftermath violence weighed on inve

LONDON (AFP) - British retail sales steadied in April, beating expectations of a drop, official data showed yesterday, with consumer spending ticking along despite Brexit and wider political strains in the UK.

The People’s Bank Amendment Bill which provides for the bank to issue debentures and maintain an authorized share capital was presented to Parliament yesterday. The Bill will include provisions for the Bank to raise

MOSCOW (AFP) - The US Ambassador to Russia Jon Huntsman will boycott Russia’s annual showcase economic forum in Saint Petersburg next month over the prosecution of a top American investor, the embassy said yesterday.

Advocata, a free-market policy think tank based in Colombo, yesterday said it supports the President-appointed Expert Committee recommendations on the restructuring of State-run SriLankan Airlines.

President Maithripala Sirisena has instructed the National Gem and Jewellery Authority (NGJA) to make it mandatory to obtain the guarantee and the certificate seal of the NGJA for gold products sold in the market.

Weft knit fabric maker, Teejay Lanka PLC, reported some solid top and bottom line performance during the three months ended 31 March, 2019 (4Q19) as the company managed to offset the higher cost through price revisions and process improvements.

The Finance Ministry yesterday said the ration and other allowances paid to all officers and other ranks in the Tri-Services have been increased by the government. Some of these allowances had not been increased for the last 20 years.

(Colombo) REUTERS: Sri Lankan shares closed slightly firmer yesterday and extended gains into a fifth session, but trading volume slumped to a near five-month low amid worries over economic slowdown and lack of investor appetite for risky assets.

Hoteliers yesterday urged the government to correct the error in recent amendments to the Value Added Tax (VAT) rate for services provided by them, noting that they would be liable for an additional cost of 15 percent on services and purchases as per

Sri Lanka’s shipping industry yesterday applauded the strict measures taken to ensure the safety of the country’s sea ports, but asserted it is time the government kicked off working towards lifting the travel advisories issued against foreigners

Despite the high awareness of e-commerce platforms, the majority of Sri Lanka’s Internet users are reluctant to utilise the e-commerce platforms to purchase goods or services due to lack of trust, according to LIRNEasia, a regional digital policy t

The majority of Sri Lanka’s social media users view blocking of social media platforms during times of national unrest as a justifiable measure to tackle the spread of fake news, according to a survey conducted by Colombo-based digital policy think

Sri Lanka’s largest brewer, Lion Brewery (Ceylon) PLC, has signalled a slowdown in business in the immediate future due to the Easter Sunday bombings that targeted churches and hotels, killing over 250 people.

The Finance Ministry yesterday said all public sector employees would be paid a special interim monthly allowance of Rs.2,500, from July 1, as announced in the 2019 budget, in March. “A circular in this regard has already been issued by the Public

Cargo Development Company PLC, an entity involved in development and rental of properties, yesterday disclosed plans to raise Rs.459 million via a rights issue. The company plans to issue 10.2 million new shares in the proportion of one share for eve

(Colombo) REUTERS: Sri Lankan shares closed slightly higher yesterday, extending gains into a fourth session, but trading volume slumped to a near

Sri Lanka’s foremost producer of cement, Siam City Cement (Lanka) Limited (SCCCL), known as INSEE Cement, has appointed Nandana Ekanayake as its Chairman.

Colombo yesterday saw a group of private sector business leaders and representatives led by business chambers in the country coming on to one platform to affirm their pledge towards a united Sri Lanka.

The government is gearing to fast-track the development of East Container Terminal (ECT) at the Port of Colombo jointly with Japan and India with the setting up of a terminal operating company (TOC), ensuring that the full ownership of ECT will remai

Central Bank Governor Dr. Indrajit Coomaraswamy has hinted a strong possibility of a policy rate cut at the next monetary policy review, as he sees “a strong case for relaxing monetary policy.”

REUTERS: Sri Lanka is unlikely to hit its full-year economic growth target of 3-4 percent following the Easter Sunday bombings, junior finance minister Eran Wickremeratne told Reuters yesterday.

Hayleys PLC saw the gains made at the top line getting pared as the conglomerate’s massive debt load continued to weigh on any progress made by its diverse business interests during the March quarter (4Q19), the interim financial accounts showed.

Prices countrywide measured by National Consumer Price Index (NCPI) rose 3.6 percent in the 12 months to April, accelerating from 2.9 percent in March, due to price increases of both food and non-food categories, the Central Bank said.

Two leading Colombo schools have implemented a digital learning system in collaboration with Headstart (Pvt.) Ltd in order to supplement students’ classroom education, as well as to be able to keep students engaged in learning during times when sch

Over the past five years, online shopping has become an increasingly popular option for Sri Lankan consumers.