Parliamentarian and Joint Opposition stalwart Vasudeva Nanayakkara last week questioned as to why the present good governance regime, which came into power promising swift probes into past financial crimes, is backtracking on some of the large-scale

Sri Lanka has received US$ 50 million loan from OPEC Fund for International Development (OFID) to improve the country’s technological education. A Finance & Mass Media Ministry statement said Sri Lanka signed a loan agreement for obtainin

WASHINGTON/BEIJING (AFP) :  The US and China yesterday launched tit-for-tat tariffs on each other’s imports, the opening shots in what Beijing called “the largest trade war in economic history” between the world’s top two

The Sri Lankan consumers’ annual expenditure on cigarettes and tobacco is so high it surpasses the country’s annual bill on milk powder imports. This tobacco expenditure also exceeds another

LONDON (AFP) : Britain’s government has “no clue or at least no consensus” over reaching a Brexit deal, Airbus chief executive Tom Enders said yesterday. During a company presentation delivered in London, Enders repeated the Europea

 NEW DELHI (AFP):  India’s most populous state Uttar Pradesh, home to 220 million people, announced yesterday a ban on plastic cups and polythene use from July 15, in its third such attempt. 

PARIS (AFP): Six sovereign wealth funds including four Gulf states have pledged to boost efforts to fight climate change at a Paris meeting called by Emmanuel Macron, the French presidential office announced yesterday.

HONG KONG (AFP): Asian stocks rebounded yesterday despite the introduction of US tariffs on US$34 billion in Chinese goods in what Beijing called the ‘largest trade war’ in economic history.

(Colombo) REUTERS: The Sri Lankan rupee ended lower for a fourth straight session yesterday, as demand for importer dollar outpaced inflows from inward remittances, dealers said.

(Colombo) REUTERS: Sri Lankan shares rose 1.2 percent yesterday, the most in seven-and-a-half months, as investors bought into blue chips such as Ceylon Tobacco Co Plc and John Keells Holdings Plc after three straight sessions of sharp fall.

Due to an interim order granted by the Commercial High Court of Colombo, Agalawatte Plantations PLC yesterday said it could not take up any of the resolutions planned during the firm’s Extraordinary G

The Monetary Board of the Central Bank for the second time extended the suspension on the controversial bond dealer Perpetual Treasuries from six months with effect from yesterday. 

Sri Lanka needs to gather momentum in its endeavour to liberalise the country’s shipping & freight forwarding industry, reiterated the largest global container shipping line, Maersk yesterday, and said it is i

The Securities and Exchange Commission of Sri Lanka (SEC) together with the Colombo Stock Exchange (CSE) yesterday launched ‘Empower – a dedicated listing platform for small and medium enterprises (SMEs) in a bid to provide much-needed eq

Dr. Dinusha Panditaratne was recently appointed as an Advisor to Verité Research. 

The Hayleys group long-timer Sarath Ganegoda has been appointed as the acting Managing Director of Dipped Products PLC, a Hayleys group subsidiary, effective from July 1, 2018. Ganegoda was appointed to the board of directors of Hayleys in September

Buoyed by higher tourist arrivals from India and China, Sri Lanka’s total tourist arrivals during the month of June rose 19 percent year-on-year (YoY) to 146,828, the data released by the country’s tourism office showed.

Private borrowings have shown some respite in recent months as such borrowings from the banking sector have moderated substantially during April and May, after the spike seen in the month before. 

Sri Lanka is to borrow 100 billion yen (approximately US $ 936 million) from Japan’s MUFJ Bank to construct a 32.5km distance of the Central Highway from Potuhera to Galagedara, under the phase three of the highway project. 

The government has decided to award a 10 MW solar power plant contract to Didul (Pvt.) Ltd. A proposal by Power and Renewable Energy Minister Ranjith Siyambalapitiya in this regard has been approved by the Cabinet this week. 

(Colombo) REUTERS: Sri Lankan shares extended losses yesterday to hit their lowest close in more than 15 months as continued foreign selling in blue-chip stocks dampened sentiment.

Sri Lanka is to set up a committee of experts to study the possibility of sharing the infrastructure facilities for the deployment of high-speed broadband services and electricity in a bid to fast-track the digitization of the country. 

(Colombo) REUTERS: Sri Lanka’s Central Bank is likely to keep key interest rates unchanged at its policy review on Friday but a rate hike cannot be ruled out as the authorities struggle to ease depreciation pressure on the rupee currency. 

The Bangladeshi government blamed Sri Lanka’s “unstable political situation” for the slow progress in the proposed Sri Lanka-Bangladesh Free Trade Agreement (SLBFTA). 

(Colombo) REUTERS: Sri Lankan shares extended falls yesterday to a 15-month closing low as continued foreign selling in blue chips, political uncertainty and concerns about lower economic g

President Maithripala Sirisena yesterday directed the Cabinet to delay the final decision on the controversial tender for 300 MW Kerawalapitiya LNG power plant until the Supreme Court’s verdict on a f

(Colombo) REUTERS: The Sri Lankan rupee edged lower for a second straight session yesterday in moderate trade, as importer dollar demand outpaced inflows from inward remittances, while a State bank helped ease downward pressure by selling the U.S. cu

Listed brush maker, BPPL Holdings PLC said it has invested Rs.180 million in a new monofilament extrusion plant, which is expected to be commissioned by July/August this year.

The asset quality of the non-bank finance sector is not something which often comes to the fore or commented on. But with the economic conditions getting tougher, it is slowly coming into the spotlight. 

Commercial Bank of Ceylon PLC has announced the appointments of Sivakrishnarajah Renganathan and Sanath Manatunge, two career bankers, who have served the bank for 37 years and 29 years, respectively, as Managing Director and Chief Operating Officer,