(Colombo) REUTERS: Sri Lankan shares fell over one percent yesterday, the sharpest in nearly 28 months, as continued foreign selling and concerns about lower economic growth hurt sentiment, stockbrokers said.

Sri Lanka’s largest brewery, Lion Brewery (Ceylon) PLC, has urged the government to restore the concessionary rate of income tax on its export profits.

(Colombo) REUTERS: The Sri Lankan rupee closed slightly weaker yesterday in dull trade as thin dollar demand from importers and banks outpaced little inflows from inward remittances, dealers said. The rupee ended at 158.35/45 per dollar, compared wit

Property development and hospitality holding company Ascot Holdings PLC is to raise Rs.632.8 million through a rights issue, subject to shareholder and stock exchange approval, the company announced last Friday.

Sri Lanka’s general prices accelerated in June on the back of higher food prices and transport costs resulting from the fuel price hike in May, as policymakers battle reining in escalating cost of living. 

Laugfs Gas PLC, the second largest distributor of liquid petroleum gas (LPG) or cooking gas in Sri Lanka yesterday cried foul over the “baseless” price reduction of 12.5 kg LPG cylinder, which came into effec

Sri Lanka’s merchandise trade deficit worsened during April as the consumption-hungry nation imported record-high consumption goods and personal vehicles, while exports languished.  

(Hong Kong) REUTERS: China’s Xiaomi Corp priced its Hong Kong initial public offering (IPO) at the bottom of an indicative range, raising US$4.72 billion in the world’s biggest tech float in four years, people close to the transaction sai

he Ceylon Chamber of Commerce (CCC), the apex body representing the country’s private sector emphasised that business confidence had been adversely impacted by political uncertainty last year, but commended the government for its more consisten

Sri Lanka’s construction sector is increasingly played by foreign investments (FDI), rather than locally generated funds. The main reason for this is the sector’s annual output value now totalling to a huge US$3 billion without even addin

ATHENS (AFP):  Greece’s long-term debt prospects are uncertain, the International Monetary Fund said yesterday, questioning the country’s ability to maintain high budget surpluses to 2060 under a recent eurozone deal.

ECONOMYNEXT: Sri Lanka is expecting to wrap up financing for a 1.7 billion US dollar light rail transit project for the capital Colombo by November 2018, for construction to begin by 2020, officials said.

BEIJING (AFP):  China has announced sectors of the economy where it will ease foreign investment rules, with leaders stepping up efforts to portray the country as opening up as they prepare for a possible trade war with the United States.

HONG KONG (AFP): Asian markets mostly rose yesterday, bringing an end to a tumultuous quarter that has seen sharp losses around the world, with China-US trade tensions showing no sign of calming.

Sri Lanka’s economic growth is expected to rebound this year to around 4.3 percent in the medium term, the World Bank (WB) said yesterday, while giving the island nation a stable outlook provided that the government maintains momentum in its re

As appreciating U.S. dollar is testing the resilience of many emerging and frontier markets this year, Sri Lanka stands among the most vulnerable economies for the dollar’s rising phenomenon, 

Defending his senior-most official, the Central Bank Governor Dr. Indrajit  Coomaraswamy yesterday dismissed the allegations levelled against Senior Deputy Governor Dr. Nandalal Weerasinghe by former Finance Minister Ravi Karunanayake. 

The hefty provisions made against possible bad loans eroded an otherwise good performance at Cargills Bank, as the lender increased its top line and expanded its loan book during the first three months of the year. 

(Colombo) REUTERS: Sri Lankan shares declined for a fourth straight session yesterday and posted their lowest close in nearly 15 months, as foreign investors continued to offload th

Sri Lanka is sleepwalking into a Rajapaksa dynasty characterized by illiberal democracy, state-dominated inefficient capitalism and ethnic chauvinism, after a failed test of good governance by an unholy coalition of left and right wing parties for th

A recent research has recommended the government to have a relook at the proposed tobacco cultivation ban by 2020, with a four-year phase-out period and financial assistance to tobacco farmers to diversify into other crops, as the employment of over

The Securities and Exchange Commission (SEC) has cleared a private placement deal the troubled Anilana Hotels & Properties PLC was trying to enter into with Singapore-based Somap International Private Limited, since last year.

The Sri Lanka Association of NVOCC Agents (SLANA) this week urged the government to convert Ceylon Shipping Corporation (CSC) to a strong regional non-vessel operating common carrier (NVOCC) operator and remove excess regulations to revive the nation

The almost 70-year old Monetary Law Act (MLA) is currently being amended to take away the voting powers of the Finance Ministry at the Monetary Board, as the amended law aims to provide greater autonomy for the Central Bank over monetary policy formu

A Cabinet paper to establish a Development Finance Corporation (DFC) is being prepared by the Finance and Mass Media Ministry, Prime Minister Ranil Wickremesinghe said yesterday.

Sri Lanka may receive funding assistance from China-backed Asian Infrastructure Investment Bank (AIIB) for its Urban Regeneration Programme, which aims at relocating 50, 000 lower middle-income households living in slums in Colombo into new apartment

Central Bank Governor Dr.Indrajit Coomaraswamy says the criticism on Sri Lanka-Singapore Free Trade Agreement (SLSFTA) is not based on facts as there are no provisions enabling the free movement of professionals. 

The Sri Lanka Customs is to launch an automated container tracking and logging system for imported cargo on a temporary basis at the Colombo port within the next six months, until the work on the proposed ‘smart customs area’ is completed

(Colombo) REUTERS: Sri Lanka’s tea output rose 11.04 percent in May from a year earlier, aided by good agro-climatic conditions and lower production in the previous month, the state-run Tea Board said yesterday. 

Sri Lanka is increasingly becoming a destination for budget travellers, with the island nation failing to attract high-spending tourists due to a lack of a comprehensive destination marketing campaign and reliance on promotional activities carried ou