Washington (AFP): Ride-share company Uber quietly has filed paperwork this week for its initial public offering, the Wall Street Journal reported late Friday. The move comes one day after rival Lyft launched the process to take the company public wit

The board of directors of TKS Finance Limited in a statement said the company has successfully completed its rights issue announced in August, raising a total sum of Rs.109 million on October 6, 2018. 

(Paris) AFP: Calls mounted yesterday for President Emmanuel Macron to bring an end to the ‘yellow vest’ crisis gripping France as authorities in Paris and elsewhere counted the cost of another day of violent protests and looting. Authorit

HONG KONG (AFP) - Asian investors battled to finish a volatile week with some stability yesterday as they weigh the outlook for China-US trade talks and uncertainty in oil markets, while looking ahead to the release of key US jobs data. After the fur

Cinnamon Hotels and Resorts swept away six awards at the Sri Lanka Tourism Awards 2018 held recently where they were recognized for the unique initiatives that contributed to the hospitality industry. 

GENEVA (AFP) - Some 3.9 billion people are now using the Internet, meaning that for the first time more than half of the global population is online, the United Nations said yesterday. The UN agency for information and communication technologies, ITU

REUTERS  - The Sri Lankan rupee ended firmer yesterday, helped by inward dollar remittances, but foreign investors continued to exit from bonds and stocks as a lingering political crisis weighed on market sentiment. Foreign investors sold a net

 (Los Angeles) VARIETY.COM:  Iflix, a streaming service for emerging markets, and Next 10 Ventures have launched a Creators Hub to fund the development of new online video creation in Southeast Asia. Announced at the ongoing Asian TV Mar

TOKYO (AFP) - Nissan yesterday announced plans to recall approximately 150,000 vehicles owing to improper tests on new units, dealing a fresh blow to the Japanese car giant following the shock arrest of former chairman Carlos Ghosn.

(London) AFP: Embattled Chinese telecoms giant Huawei has agreed to British intelligence demands over its equipment and software as it seeks to be part of the country’s 5G network plans, the FT reported yesterday. Huawei executives met senior o

In the wake of indefinite strike action declared by trade union (TU) leaders from December 4 onwards, the Planters’ Association of Ceylon (PA) yesterday firmly reiterated the position of its membership—that a 100 percent increase in daily

(Colombo) REUTERS: Sri Lanka’s travel industry is starting to suffer the fallout of a political crisis in the middle of its peak tourist season, as uncertainty prompts cancellations by both business and leisure visitors.

(Colombo) REUTERS: The Sri Lankan rupee closed slightly firmer in dull trade yesterday, helped by dollar inward remittances.

The Commercial Bank of Ceylon has been appointed the Internet Payment Gateway (IPG) service provider to ‘Daraz,’ South Asia’s premier online shopping market, to enable seamless online transactions for its large base of shoppers.

In our Page 6 story of yesterday’s (6th) paper on rating downgrades, the headline should be corrected as “NSB, People’s Leasing and Finance ratings lowered as they face accelerated risks following political crisis.” We regret

The Central Bank yesterday said it is taking steps to pay compensation to the depositors of The Standard Credit and Finance Ltd under the Deposit Insurance and Liquidity Support Scheme.  

Sri Lanka’s politicians thrive on their largely finically illiterate electorates as the majority of voters are incapable of understanding the economic realities and the consequences of financial mismanagement of governments, according to an e

Sri Lanka’s corporate earnings sank during the second quarter as business and consumer sentiments turned sore on higher taxes and interest rates, amid inflation hitting almost all sections of society, undermining the economic growth, according

(Colombo) REUTERS: The Sri Lankan rupee closed weaker yesterday, hit by concerns over a lingering political crisis, as banks bought dollars to facilitate foreign capital outflows from rupee-denominated assets.  

The big three credit rating agencies had downgraded Sri Lanka’s rating as of yesterday owing to the current political crisis that triggered on October 26 with the sacking of the then Prime Minister Ranil Wickremesinghe by President Maithripala

(Colombo) REUTERS: The Sri Lankan rupee closed weaker yesterday with banks buying dollars as investors continued to sell rupee-denominated assets on credit rating downgrades by rating agencies and a delayed IMF loan discussion in the wake of a politi

The American Chamber of Commerce (AMCHAM) yesterday said the current political impasses in the country sends worrying signals to the business community locally as well 

The merger of local operations of Etisalat and Hutch announced in April this year has been completed. A brief statement from CK Hutchison Holdings Limited said Emirates Telecommunications Group Company has completed the sale of 100 percent shareholdi

Sri Lanka will launch the much-awaited Rs.4.5 billion global tea promotion in Russia next February, followed by Japan, China and Ukraine, the Sri Lanka Tea Board (SLTB) said.  

The new credit granted by Sri Lanka’s banks marked a record growth for the year during the month of October, accelerating from the previous high in September, as the borrowings appear to be continuing defying the rising market interest rates.&n

(London) REUTERS: Unilever is to buy GlaxoSmithKline’s Horlicks nutrition business for US $ 3.8 billion, boosting the Anglo-Dutch group’s position in India with the addition of the malted drink.  

(Colombo) REUTERS: The Sri Lankan rupee closed firmer yesterday as banks sold dollars due to month-end inward remittances, but the rupee is still under pressure as investors continue to sell rupee-denominated assets on a credit rating downgrade and a

The Right to Information (RTI) Commission issued an order on November 27, 2018 directing the Central Bank of Sri Lanka (CBSL) to release data on Employee Provident Fund (EPF) secondary market transactions relating to 2015 and 2016.

The director board of Seylan Bank PLC has decided to raise Rs.5 billion through Basel III compliant debentures, the bank said in a stock exchange filing on Friday. Accordingly, Seylan plans to issue 50 million rated, unsecured, subordinated redeemabl

Sampath Bank PLC said it is raising up to Rs.7 billion in Basel III compliant debentures, following a director board decision on the same on November 29. The debenture issue will have three tranches. The initial issue will see the bank issuing 50 mil