The ongoing tax reforms in Sri Lanka have a good chance of succeeding by broadening the tax base, particularly in terms  of direct tax revenue mobilisation, although the high debt burden combined with rising interest rates in the present  g

Sri Lanka’s merchandize trade with other countries continues to give trouble to the policy makers as the deficit in the trade account expanded in March, albeit at a lesser pace due to record high exports during the month. 

(Colombo) REUTERS:  Sri Lanka’s recent adverse weather and weakening rupee currency will have little impact on inflation, Senior Deputy Central Bank Governor Nandalal Weerasinghe said yesterday.

(Colombo) REUTERS: Sri Lankan consumer prices rose 4.0 percent in May from a year earlier, edging up from the previous month’s 3.8 percent, government data showed yesterday. 

Sri Lanka needs to up its game in developing its tourism product and entertainment offering to attract higher spending tourists, a top official of Sri Lanka’s largest hotelier John Keells Holdings PLC (JKH), which owns and operates hotels and r

(Colombo) REUTERS: Sri Lankan shares fell for a fourth straight session yesterday and posted their lowest close in five months, dragged by conglomerate John Keells Holdings Plc on foreign investor selling.

The government yesterday said it would recruit 20, 000 unemployed graduates in two phases this year.

UberINTERCITY goes live today for multiple outstation routes following a successful six-month pilot project from Colombo to Galle launched in December 2017.

The US’ decision to unilaterally abandon the nuclear deal with Iran is likely to put a damper on Sri Lankan tea exports, a leading tea broking house in the country said.

Petroleum Resources Development Minister Arjuna Ranatunga yesterday signed an agreement on behalf of the Government of Sri Lanka (GOSL) with Eastern Echo Holdings PLC, a subsidiary of US-based major oilfield services company Schulmberger, giving a ne

(Johannesburg) REUTERS: South African retailer and wholesaler SPAR Group Ltd plans to open two more stores in Sri Lanka, it said yesterday, after warning that fuel price hikes and currency weakness could affect its home market.  

(Colombo) REUTERS: The Sri Lankan rupee fell yesterday due to importer dollar demand following a holiday in the United States on Monday, while markets in the island nation were closed on Tuesday for a local holiday.

(Colombo) REUTERS: Sri Lankan shares fell for a third straight session yesterday and posted their lowest close in more than four months, as foreign investors sold diversified stocks such as conglomerate John Keells Holdings PLC and Aitken Spence PLC.

Asian Hotels & Properties PLC (AHPL), the owners and operators of the two city hotels under the Cinnamon brand, appears to have started to feel the intensity of the competition in the city hotel sector in Colombo, as the g

Bithumb, the largest crypto exchange in South Korea and the fifth largest in the world, has announced a ban on virtual asset trading transactions of Sri Lankan residents along with 10 other countries, which were identified as having lenient policies

Indian Express: With zero customs duty on exports to India and Europe from Sri Lanka, Hero Cycles is planning to increase its stake in its Colombo-based bicycle unit this quarter.

Healthcare, agri, consumer and renewable energy businesses performed well over the previo

Panasian Power PLC (PAP) said it intends to further increase its installed capacity through solar and mini-hydro projects in FY19 while looking for opportunities in Africa and South East Asia, as the firm aspires to become the largest listed renewabl

The world’s black tea production is projected to increase by an annual growth rate of 2.2 percent, to reach 4.42 million tonnes, as a result of major production increases in Sri Lanka, China and Kenya.

REUTERS: The Sri Lankan rupee ended slightly firmer in light trade yesterday, helped by inward remittances and a lack of demand for dollars from importers due to a holiday in New York.

The Brown & Company PLC director board has resolved to raise Rs.7.08 billion through a rights issue, subject to the approval of its shareholders and the Colombo Stock Exchange, with regards to the listing of the rights shares. 

AFP: Coca-Cola launched its first-ever alcoholic drink yesterday in Japan— a fizzy, lemon-flavoured concoction laced with spirits that seeks to capitalise on the growing popularity of “chuhai” alcopops enjoyed especially by young wo

REUTERS: The New Development Bank (NDB), set up by the BRICS group of major emerging economies, said yesterday it plans to raise 5 billion yuan (US $ 782 million) through a yuan-denominated bond issue 

REUTERS: Sri Lankan shares marked their lowest close in two weeks yesterday with investors mostly keeping to the sidelines awaiting cues about the real impact of the floods that hit the island-nation over the past week.

The Public Debt Department (PDB) of the Central Bank yesterday sold Rs.90 billion worth of five-year and 10-year bonds, the press notice issued by the Central Bank indicated.

Despite significantly higher profits recorded by the Sri Lanka’s premier blue chip John Keells Holdings PLC (JKH) due to one-off gains stemming from the group’s financial services sector, the interim financial accounts released to the Col

Higher inflation and lower disposable incomes have hit the core consumer business of Hemas Holdings PLC while the recent investment in Atlas Axillia and other business expansions in both home and abroad are weighing on the group’s overall busi

Ceylinco Insurance PLC announced an incomparable dividend of Rs.31.50 per share to its shareholders for the year 2017, which constitutes a 315 percent dividend of the original share price.

Higher depreciation, interest and energy costs and slowdown in domestic business have impacted the performance Piramal Glass PLC, the only glass bottle maker in Sri Lanka.

REUTERS: Sri Lanka has accepted an eight-year China Development Bank US$1 billion syndicated loan to repay loans maturing this year, two top Finance Ministry officials said on Friday.