A leading mini-hydro power developer in the country says the government should implement a proper long-term tariff mechanism to boost investments into the country’s energy sector. 

On August 28th and 29th, over 500 delegates encompassing Chief Executives, CFOs, Directors and senior managers in the country will be in attendance for the CIMA Business Leaders’ Summit held under the theme ‘From Insight to Impact –

The Finance Company PLC’s (TFC) losses expanded during the quarter ended June 30, 2018 (1Q19) as the beleaguered finance company saw further erosion in its customer deposits while customer advances declined. 

COLOMBO (Reuters) - The Sri Lankan rupee hit an all-time low of 160.96 per dollar yesterday, dragged down by importer dollar demand and less dollar inflows, dealers said.

 WASHINGTON (AFP) - US officials holding a two-front batt

Petroleum Resources Development Minister Arjuna Ranatunga said that Ceylon Petroleum Corporation (CPC) is the only institution which gives the highest revenue to the Treasury. 

HONG KONG (AFP) - Shares in an Asian casino operator plunged in Hong Kong yesterday as it said its tycoon head had gone missing, the latest setback for the firm after a project in Manila had 

Uber Eats, the food delivery app by ride-hailing company Uber, is all set to launch its services in Colombo next month. Similar to the Uber rides app, Uber Eats is a food delivery app that helps bring food to consumers in a convenient and reliable ma

Asian markets were mixed yesterday as China-US trade talks wrapped up with little progress being made, while the dollar held up ahead of a key speech by the head of the Federal Reserve.

FRANKFURT (AFP) - European powerhouse economy Germany notched up a record government budget surplus in the first half of 2018 as well as rebounding to stronger growth in the second quarter, official data showed yesterday.  Federal, state and mun

The Cabinet of Ministers this week approved a proposal to set up a temperature-controlled storage facility with an investment of Rs.475 million in Dambulla, a key farming region in the country’s North Central Province. 

The government has decided to increase concessions and thereby improve the productivity of the plantation sector, which still remains a major foreign exchange earner that e

(Colombo) REUTERS: The Sri Lankan rupee hit a fresh low of 160.82 per dollar yesterday as importer dollar demand and foreign outflows from government securities weighed on the currency, dealers said.

Moody’s Investors Service (Moody’s)  said the Central Bank has room to be more accommodative in their monetary policy, as the planned changes to the Monetary Law Act (MLA) are expected to enhance monetary policy effectiveness, helpin

(Sydney) REUTERS: The World Bank has priced the world’s first public bond created and managed using only blockchain in an A$100 million (US$73.16 million) deal 

(Colombo) AFP: Sri Lanka’s national carrier will launch a new search for an equity partner after the IMF warned the loss-making airline was dragging the country’s economy down, officials said Wednesday.

Tata Motors, a member of India’s Tata Group, expects Sri Lanka’s motorcar market to more than double by 2022 while the motor car penetration is also predicted to be doubled in the period.

Ceylinco Life has more than doubled the pre and post-tax profits at the end of the second quarter of 2018, sustaining its growth momentum with consistent operational performance.

Uber, the world’s largest on-demand ride-sharing company recently announced the launch of its UberTUK service in Colombo. 

(Colombo) AFP: Japan has pledged to help strengthen Sri Lanka’s maritime security, authorities said Tuesday, in a new sign of efforts to counter China’s strategic grip on the Indian Ocean island. President Maithripala Sirisena thanked Jap

The depreciation of the Sri Lankan rupee and regulated pricing on pharmaceutical drugs could threaten the diversified conglomerate Hemas Holdings PLC’s (AA-(lka)/Stable) profitability in FY19, credit rating agency Fitch Ratings said in a brief

(Colombo) REUTERS: Sri Lankan shares extended losses into an eighth session yesterday and posted their lowest close in nearly 17 months, as foreign investors continued to sell, while a report about new tax proposals weighed on the market as well.

The new country branding for Sri Lanka Tourism will be unveiled at the World Travel Mart (WTM) in London in November this year, Tourism and Christian Religious Affairs Minister John Amaratunga said yesterday. 

(Colombo) REUTERS: The Sri Lankan rupee touched a record low of 160.65 per dollar yesterday as importer dollar demand and foreign outflows from government securities weighed on the currency, dealers said. The rupee hit 160.65 earlier in the trade, be

Business tycoon Harry Jayawardena-controlled diversified conglomerate Melstacorp PLC yesterday announced its entry into Sri Lanka’s healthcare sector. The company said it incorporated a holding company namely Melsta Health (Pvt) Ltd., through w

Sri Lanka’s countrywide inflation measured by National Consumer Price Index (NCPI) increased to 3.4 percent in July from 2.5 percent in June on year-on-year basis, the Department of Census and Statistics said yesterday.

(Colombo) REUTERS: The Sri Lankan rupee touched a record low yesterday as importer dollar demand, foreign outflows and government securities weighed on the currency, dealers said.

(Colombo) REUTERS: Sri Lanka’s tea output fell 7.3 percent in July from a year earlier, the state-run Tea Board said yesterday and the brokers attributed the fall to adverse weather conditions. 

(Colombo) REUTERS: Sri Lankan shares extended losses into a seventh session yesterday and posted their lowest close in nearly seven weeks, as foreign investors continued to reduce their holdings, while confusion over new tax measures weighed on the m

Amid the calls to open up the government tenders to the used or non-brand-new vehicle importers, the Ceylon Motor Traders’ Association (CMTA) yesterday urged the government not to move away from the internationally accepted procurement processe