Commercial High Court on September 19, 2018 granted an interim order on Ceylon & Foreign Trades PLC (CFT) and its directors Ali Asger Shabbir and Malayandi Jayaprakash restraining them from disposing, alienating and encumbering any of the CFT ass

(Colombo) REUTERS: Sri Lanka has reversed a decision to award a US $ 300-million housing deal to China in favour of a joint venture with an Indian company, the government said, ahead of a visit by the prime minister to its South 

French Agency for Development (AFD) has loaned 30 million euros to Sri Lanka to finance a green power development project.

The state-owned Ceylon Petroleum Corporation (CPC) plans to enter into a joint venture (JV) with Lanka IOC PLC (LIOC) to develop the unused 85 oil tanks in Trincomalee, while retaining their ownership.  

The Central Bank yesterday said Sri Lanka secured a US $ 1 billion foreign currency term financing facility from China Development Bank (CDB), at highly competitive interest rates.  

The Cabinet of Ministers on Tuesday decided to award the US $ 2 million contract to develop a new brand identity and strategy for Sri Lanka tourism to J. Walter Thompson (JWT) within a period of six months, a top minister told Mirror Business. 

The recent curbs on vehicle imports appear to have finally stemmed the flow of motor vehicles to the country, although a dramatic fall in motor car registrations is not expected, at least in the next couple of months, as unsold cars lying in yards an

The two-year credit boom during 2015 and 2016 has failed to bring in desired long-term development outcomes as most of such credit had gone into unproductive segments of the economy, a recent research report by a leading Colombo-based equities broker

(Colombo) REUTERS: The Sri Lankan rupee ended 0.2 percent weaker yesterday as banks and importers bought the dollar while stocks ended a five-session losing streak, pulling away from previous session’s near five-year closing low. The rupee ende

The Cabinet of Ministers yesterday decided to award the US $2 million contract to develop a new brand identity and strategy for Sri Lanka tourism to J. Walter Thompson (JWT) within a period six months, a top Minister told Mirror Business. 

The Sri Lanka Chamber of Pharmaceutical Industry (SLCPI) yesterday announced the withdrawal of 11 drugs from the local market due to the price controls slapped by the government. The ph

The banking sector earnings, which once looked almost immune to economic cycles, have indicated some signs of weakness in recent times, as the sector is facing multiple headwinds, which are putting its resilience to test.    

The Hotels’ Association of Sri Lanka (THASL), with a plan to develop more employment opportunities and foreign exchange earnings to the country, will hold its 53rd annual general meeting (AGM) at Shangri-La Hotel, tomorrow.  

(Colombo) REUTERS: The Sri Lankan rupee ended 0.7 percent weaker yesterday as banks and importers bought the dollar and as stocks declined for a fifth straight session, hitting a near five-year closing low on continued foreign fund outflow.  

The Central Bank yesterday said the procurement process for several forensic audits is underway on the Employees’ Provident Fund’s (EPF) investment in stocks and treasury bonds and operations of selected entities regulated and supervised

The World Bank expects Sri Lanka economy to grow 3.9 percent this year and 4 percent in next two years, recovering from the weather disruptions, which negatively affected agriculture, last year.  

In their latest action to ease the pressure on the sliding rupee, the Central Bank has directed authorized dealers not to release foreign exchange, which involves conversion of rupees into foreign c

(Manila) REUTERS: The Philippines’ Finance Ministry said yesterday it was exploring a plan to sponsor a catastrophe bond issue, similar to the one launched by the World Bank early this year covering Latin American earthquakes.

The Plantation Industries Ministry together with the Coconut Cultivation Board (CCB) plan to employ the application of drone technology and an online coconut land registration to boost productivity and yield of the coconut plantation in the country.&

Sri Lanka’s apparel export earnings for the month of August rose 7.7 percent from a year ago to US $ 444 million amid a significant rise in export earnings from the United States.

Dutch development bank, FMO, recently arranged a US $ 50 million syndicated loan for Nations Trust Bank (NTB) to support the bank’s business banking activities, which have been geared more towards Small and Medium Enterprises (SMEs).

TOKYO (AFP) - Asian and European stock markets rallied yesterday after two days of ferocious selling sparked by higher US interest rates, trade war fears and attacks by President Donald Trump on his “crazy” central bank. Equities across A

Responding to Parliamentarian Bimal Rathnayaka, Minister of Petroleum Resources Development Arjuna Ranatunga said he will not offer Trincomalee oil tanks to any Indian oil company. 

Indonesia (AFP) - The World Bank yesterday launched a new US$150 million fund intended to help insure vulnerable countries against natural disasters and the increasing risk of climate change-linked crises.

COLOMBO (Reuters) - The Sri Lankan rupee strengthened 0.5 percent yesterday, as inward remittances and exporters dollar sales surpassed mild importer demand for the greenback, while stocks declined for a fourth straight sessi

PARIS (AFP) - The International Energy Agency yesterday revised lower its growth forecast in global oil demand for 2018 and 2019, citing high prices, trade tensions and a less favourable economic outlook.

BEIJING (AFP) - China’s trade surplus with the United States ballooned to a record US$ 34.1 billion in September, despite a raft of US tariffs, official data showed yesterday, adding fuel to the fire

LONDON (AFP) - Prime Minister Theresa May’s office insisted yesterday it would not “trap” Britain in an endless customs union with the EU after Brexit, amid reports some ministers could quit if this is the price of a divorce deal.

Credit to the private sector in August has eased from a month ago although the overall bank credit stayed high as the cash-strapped government as of late was seen stepping up borrowings

 (Colombo) REUTERS: The Sri Lankan rupee ended slightly higher yesterday, easing from a record low hit in the previous session, as exporters dollar sales surpassed importer demand for the greenback in dull trade, while stocks ended weaker for a