(Colombo) REUTERS: Sri Lankan shares recovered from a 5-1/2-year low yesterday on bargain hunting after four straight sessions of losses, but concerns over economic and political stability kept the gains in check.

Vehicle registrations slumped in February, ahead of duty concession expectations from Budget 2019 and amid impending election, the monthly vehicle registrations tracker by JB Securities, a leading stockbroker and equities research house showed.

Fitch Ratings has assigned a final rating of ‘B’ to the bonds issued by Sri Lanka on March 7, 2019—US $1 billion (6.85 percent) bond due in 2024 and US $ 1.4 billion (7.85 percent) bond due in 2029. This replaces the expected rating of ‘B (EX

Sunshine Holdings PLC and CIC Holdings PLC yesterday said they have agreed in principle to combine their healthcare businesses. Sunshine Holdings will have 60 percent of the shareholding of the combined business and the effective management control w

Sri Lanka’s trade deficit expanded over US $ 10 billion in the year 2018 despite a significant decline in the December trade deficit with a notable deceleration in the import expenditure, the data released by the Central Bank showed.

With an eye on achieving the targeted three million tourist arrivals this year, a newly constituted Tourism Advisory Committee has been appointed by Tourism Development, Wildlife and Christian Religious Affairs Minister John Amaratunga.

The Finance Ministry’s Public-Private Partnership (PPP) unit chief yesterday pointed out that the PPP process is not functioning at its best capacity and the relevant stakeholders could look at exploring new options in improving the situation that

(Colombo) REUTERS: Sri Lankan shares fell for a fourth straight session yesterday, hovering near 5-1/2-year low, as investors sold blue chips amid concerns over economic and political stability.

A consortium consisting of Japanese and Sri Lankan firms will be awarded the contract for planning, procurement assistance, construction, supervision and project management of the Fort-Malabe Light Rail Transit

The Cabinet of Ministers has given its approval to implement a price formula on imported milk.

A delegation from Michelin, the French tire manufacturing giant met with the Board of Investment (BOI) Chairman Hemasiri Fernando and Director General Champika Malalgoda recently.

The National Chamber of Commerce of Sri Lanka (NCCSL) observed that it’s challenging for the government to increase total revenue by 20 while keeping the budget deficit at 4.4 percent of Gross Domestic Product (GDP) this year amidst a slow GDP grow

KUALA LUMPUR (Reuters) - The Malaysian government is considering whether to shut, sell or refinance national carrier Malaysia Airlines (MAB), Prime Minister Mahathir Mohamad said yesterday.

(Colombo) REUTERS: Sri Lanka’s shares fell for a third straight session to a more than 5-1/2-year low yesterday as investors awaited a budget vote later in the day to assess the political stability of the government led by Prime Minister Ranil Wi

Sri Lanka Tourist Police yesterday said they arrested a 36-year old in connection to the alleged harassment of a tourist in Mirissa, which went viral on social media recently.

The Sri Lankan government yesterday signed a concessionary loan agreement with the Japan International Cooperation Agency (JICA) to borrow JPY 30,040 million (approx. Rs.48 billion) for engineering services and construction of a light rail transit (L

The Board of Investment (BOI) recently signed an agreement with the John Keells group subsidiary Logipark International (Pvt.) Ltd to construct, commission and operate a logistics centre to provide integrated logistic services, container freight stat

(Colombo) REUTERS: Sri Lankan shares ended at a 5-1/2-year low and the rupee fell yesterday as investors awaited a budget vote on Tuesday to assess the political stability of the government led by Prime Minister Ranil Wickremesinghe.

Echoing similar sentiments to that of Moody’s, Fitch Ratings Limited expressed doubts over the government’s ambitious fiscal consolidation agenda, which targets to shrink the budget deficit to 4.4 percent of GDP this year, from 5.3 percent in 201

Perhaps levelling the sharpest criticism so far against the Budget 2019 presented last week, a top economist and a commentator of socio-political issues charged that the budget lacks clear direction as it tries to be everything for everyone and its a

As National Development Bank (NDB) is set to achieve a systematically important domestic bank status this year, reaching Rs 500 billion in assets, the top officials of the bank expressed their confidence on meeting increased capital adequacy requirem

The Colombo Stock Exchange (CSE) is expected to sign a memorandum of understanding (MoU) with London Stock Exchange (LSE) shortly, to explore the possibilities of dual listing of Sri Lankan government’s foreign currency denominated debt.

Norway’s trillion dollar sovereign wealth fund, the world’s largest, managed by the Norwegian Central Bank, Norges Bank, had investments to the tune of US $ 98.3 million in Sri Lankan stocks by end of last year.

Sri Lanka’s tourist arrivals for the month of February rose 7 percent year-on-year (YoY) to 252, 033, with visitors from Europe accounting for over half of the arrivals, the data released by the Sri Lanka Tourism Development Authority (SLTDA) showe

Frederick Wallace “Fred” Smith (born August 11, 1944) is the founder, Chairman and CEO of FedEx, originally known as Federal Express. The company is headquartered in Memphis, Tennessee.

Sri Lanka’s national consumer protection is to be led by an internationally accredited quality professional and a leading academic in management science. “With this appointment, we leverage your local and international experience for our consume

The budget proposal to give an increment of Rs.2, 500 to State sector employees is an interim measure, State Minister of Finance Eran Wickramaratne said yesterday. The State Minister

In recognition of International Women’s Day, SriLankan Airlines operated its first all female crew flight from Colombo to Singapore and return. UL306 of 8th March ’19 landed in Singapore carrying more than 170 passengers onboard.

COLOMBO (Reuters) - Sri Lankan shares fell to a near 5-1/2-year low yesterday as investors sold large cap stocks, outweighing purchases by foreigners. The Colombo Stock Exchange index settled 0.52 percent lower at 5,722.25, its lowest close since Se

HONG KONG (AFP) - Asian markets tanked and the euro struggled to recover yesterday as the European Central Bank’s decision to slash its growth and inflation forecasts added to increasing pessimism about the global outlook.