REUTERS: Two Japanese automakers, including Honda Motor, issued profit warnings for the current financial year on worries a stronger yen would erode their operating earnings, wiping out the impact of record high global vehicle sales.

REUTERS: The U.S. government may start scrutinizing informal partnerships between American and Chinese companies in the field of artificial intelligence, threatening practices that have long been considered garden variety development work for technol

The World Bank Board of Executive Directors has approved a US $100 million credit to support Sri Lanka’s efforts to strengthen and modernize its education system.   The General Education Modernization Project (GEM) will modernize and

 Top professional Ranel T. Wijesinha is tipped to be appointed as the new Securities and Exchange Commission (SEC) Chairman, Mirror Business learns. Wijesinha served as a Commissioner in the previous Commission headed by Thilak Karunaratne.

Government authorities have become the tourists in the previously thriving tourism hotspot of Mirissa, as overenthusiastic inter-agency cooperation has led to a crackdown in the region following two consecutive cases of sexual assault and assault on

Sri Lanka is to finally kick off the long-delayed tourism promotion campaign with a US$3.5 million worth six-month digital marketing campaign and a CNN advertising campaign in two weeks, Tourism and Christian Affairs Minister John Amaratunga said.

Ratings agency Fitch yesterday voiced concerns over the political uncertainty prevailing in Sri Lanka, saying that investor confidence may be affected unless political issues are swiftly resolved followed by the implementation of reforms and continue

Exporters urge the Development Strategies and International Trade Minister Malik Samrawickrama to fast-track the implementation of the budget proposal to set up a development bank with an EXIM (export-import) window, which is crucial to address the c

The parent companies of Hutchison Telecommunications Lanka (Pvt) Ltd. and Etisalat Lanka (Pvt) Ltd. have entered to into a definitive agreement to merge the operations of the two companies. 

The Central Bank yesterday described the recent sharp depreciation of the rupee against the U.S. dollar as a “normal demand and supply phenomenon,” and assured there’s no need for panic as the Central Bank has enough “firepowe

Despite the higher sour loans and stalled credit growth due to higher interest rates, Union Bank of Colombo PLC (UBC) managed to improve its margins and report higher profits for the January-March quarter (1Q18) compared to the corresponding period o

REUTERS: The Sri Lankan rupee hit a record closing low yesterday, as importers bought dollars while exporters stayed away expecting a further fall in the currency, dealers said.

Renuka Holdings PLC said one of its sub-subsidiaries, Galle Face Properties Ltd, commenced the construction of the group’s ambitious property development plan, ‘Renuka Towers’, which was in the pipe line for several years, on a comp

The Central Bank of Sri Lanka (CBSL) yesterday hit back at the erroneous media reports, which had said that the CBSL lacks funds to pay off the treasury bonds before their  date of maturity.

The International Finance Corporation (IFC) of the World Bank Group has approved a loan up to US $ 24 million for a mega luxury leisure project in Sri Lanka, handled by the real estate developer Melwa Hotels & Resorts (Pvt) Ltd.

REUTERS: Sri Lankan shares edged higher yesterday from their lowest close in more than one week as foreign buying provided some support to the market amid continued political uncertainty, stockbrokers said.

The Cabinet has decided to purchase crude oil under a long-term contract to ensure the regular crude supplies to the Sapugaskanda oil refinery.

Bogala Graphite PLC, one of the world’s leading exporters of vein graphite, rebounded in the 1st quarter of 2018 with Rs. 44.3 million in net profits compared to Rs. 4.3 million in net losses in the corresponding quarter last year, with its min

The construction of Kerawalapitiya 300MW Liquefied Natural Gas (LNG) power plant is likely to experience further delays as two bidders have filed objections over the awarding of the tender to Lakdanavi Ltd, a subsidiary of LTL Holdings (Pvt) Ltd.&nbs

REUTERS: The Sri Lankan rupee hit an all-time low yesterday, as dollar demand from importers outpaced selling of the U.S. currency by exporters, dealers said. The rupee hit a record low of 157.35 against the dollar intraday, weakening further from it

The Central Bank said yesterday that its annual report for 2017 would be released tomorrow.  The first copy will be presented to Finance and Mass Media Minister Mangala Samaraweera, since the Central Bank falls under his portfolio under prevaili

International Finance Corporation (IFC), the private sector investment arm of the World Bank Group, is set to invest US $ 3 to 4 million in Digital Mobility Solutions Lanka (Private) Limited, the operators of PickMe, Sri Lanka’s largest ride h

The cost-reflective pricing formula for petroleum has not been finalised yet and presenting it to the Cabinet will be delayed until next week since the key personnel in the Finance Ministry are attending the International Monetary Fund (IMF) Spring S

The recent merger of LOLC Micro Credit Ltd (LOMC) with LOLC Finance PLC (LOFC) has made the remaining entity, LOFC, effectively the largest non-bank financial institution in the country.

REUTERS: The Sri Lankan rupee slipped to an all-time low yesterday, with dollar demand from importers outpacing limited selling of the US currency by exporters, dealers said.

The Asian Development Bank (ADB) has received US $ 12.6 million of funding for 2018-2020 from the Women Entrepreneurs Finance Initiative (We-Fi) to generate more resources for Sri Lankan women-led businesses.

REUTERS: Indian Prime Minister Narendra Modi will visit China this week for an informal meeting with President Xi Jinping, as efforts at rapprochement gather pace following a testing year in ties between the two giant neighbours. 

SEOUL (REUTERS): Korean Air Lines Co Ltd Chairman Cho Yang-ho apologised yesterday for the behaviour of his two daughters and said they would immediately step down from their positions in the company.

Washington (REUTERS):  The World Bank’s shareholders on Saturday endorsed a US $13 billion paid-in capital increase that will boost China’s shareholding but bring lending reforms that will raise borrowing costs for higher-middle-inco

The world’s largest book sale, the Big Bad Wolf book sale, is making a comeback to Sri Lanka, marking its presence for the second time this June, which is good news for all reading buffs and bookworms.