As the current non-renewable energy sources in Sri Lanka are costly and contribute to increased emission of greenhouse gases, it is high time for the country to focus on transitioning from conventional sources to renewable energy sources, according t

The Sri Lanka Ports Authority (SLPA) will sign an agreement with Colombo Dockyard PLC to build two pilot boats for the Colombo port, enabling it to handle a greater volume of activities with more efficiency.   

Fitch Ratings affirmed Sri Lanka Telecom PLC’s (SLT) Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) at ‘B’. The Outlook is Stable. The agency has simultaneously withdrawn the ratings for commercial reasons. &nbs

(New Delhi/Los Angeles) REUTERS: US-based electronic cigarette company Juul Labs Inc. is hoping to launch its products in India by late 2019, a person familiar with the strategy told Reuters, marking one of its boldest bets to expand away from its ho

(Washington) AFP: The Federal Reserve will make its first interest rate announcement of the year on Wednesday but almost certainly will make it clear it will remain patient about any further moves.  

Samapth Bank PLC yesterday said it is investigating a ‘financial irregularity’ at one of its branches, and said the ongoing investigation prevents them from disclosing details any further.

Ports, Shipping and Southern Development Minister Sagala Ratnayaka said the implementation of the proposed port tariff revision will be deferred until March 15 considering concerns raised by numerous industry stakeholders.  The Cabinet of 

Maxims Holdings, a diversified Board of Investment (BOI) approved company opened its futuristic modern warehousing complex at Mulleriyawa yesterday.  The brand new facility is built on a 4.5 acre land with a total investment of  Rs.2 billio

John Keells Hotels PLC, the resort sector arm of the John Keells group, reported lower revenue and profits for the quarter ended December 2018 (3Q19), mainly due to weak performance from the group’s Maldivian resorts.  John Keells Hotels r

(Colombo) REUTERS: Sri Lanka’s rupee closed firmer yesterday on banks’ dollar sales from inward remittances and on behalf of foreign investors who are purchasing short-term bills, while stocks en

Sri Lanka will soon replace the discriminatory Family Background Report (FBR) regulations imposed on female migrant workers leaving the country for foreign employment with a supportive family background plan scheme. Telecommunication, Foreign Em

Sri Lanka Telecom PLC (SLT), the leading fixed line operator will access domestic banking sources to refinance its maturing foreign currency debt, Fitch Ratings said in its latest report on Asia-Pacific telecom sector.  According to Fit

An agreement was reached last Friday between the Employers’ Federation of Ceylon (EFC) and the estate sector trade unions to revise the collective agreement pertaining to plantation workers’ wage. Secretary General of The Planters’

The government on realising the success of Enterprise Sri Lanka concessionary loan scheme is to introduce further concessionary loans to widen the schemes enabling the stakeholders to move towards next generation economic activities in their respecti

Lanka IOC PLC (LIOC) swung to a heavy loss of Rs.986.9 million or Rs.1.85 a share during the three months ended December 2018 (3Q19) as Sri Lanka’s only private sector fuel distributor saw its cost of sales rising faster than sales.

(Colombo) REUTERS: Sri Lanka is facing what could be its worst pest infestation in history, potentially cutting the country’s rice and maize output and forcing the island nation to im

The Jaffna International Trade Fair (JITF), the multi-faceted gateway to the North, that brings together some of Sri Lanka’s favourite brands and services opened yesterday. 

HONG KONG (AFP) - Asian markets rose yesterday putting them on course to end a shaky week on a positive note as investors look ahead to crucial trade talks between China and the United States at the end  of the month.

DAVOS, Switzerland (AFP) - Ministers from 75 countries launched talks towards drawing up global e-commerce rules amid growing calls for technology to be more closely regulated internationally.

MUMBAI (AFP) - It was billed as the world’s cheapest car and shaped like a jelly bean but after a bumpy 10-year ride India’s Tata Nano is nearing the end of the road. Tata Motors, India’s top automaker, said yesterday that it could

COLOMBO (Reuters) - Sri Lanka’s rupee closed steady yesterday as dollar selling by exporters offset importer demand for the greenback, while stocks edged higher for a third straight session.  The rupee closed at 181.60/80 

FRANKFURT (AFP) - German business confidence fell to a nearly three-year low in January, a closely-watched survey said yesterday, in the latest sign of waning momentum in Europe’s top economy. The Munich-based Ifo insti

BEIJING (AFP) - Microsoft is still trying to figure out why its Bing search engine temporarily went offline in China, the company’s president said following speculation that it could have been blocked by censors. The US firm’s Chinese web

As Sri Lanka’s apparel sector has embarked on a journey to achieve US $8 billion in exports by 2025, the industry requested the government’s to assistance to enhance a

Low-cost carrier Thai Lion Air will begin operating direct flights between Sri Lanka and Bangkok from January 30. The flight is scheduled to depart 

The Finance and Mass Media Ministry yesterday called upon all stakeholders including the general public to make their proposals for the budget 2019 before February 11. Finance and Mass Media

(Colombo) REUTERS: Sri Lanka’s rupee closed slightly firmer yesterday due to dollar selling by exporters, while stocks edged higher for a second straight session, moving away from an eight-week closing low hit early this week.

Sri Lanka’s second largest private bank by assets, Hatton National Bank PLC (HNB) has upsized its already announced Basel III debenture issue by Rs.3 billion.  HNB in September last year, announced plans to issue 50 million BASEL III-compl

Sri Lanka is to obtain US $ 200 million from the International Bank for Reconstruction and Development (IBRD) of the World Bank to implement a primary healthcare system strengthening project.  

The government will be looking at further relaxing the rules pertaining to repatriation of export earnings to facilitate the country’s exporters, said the former Export Development Board (EDB) Chairperson and Chief Executive Officer Indira Malw