East West Properties PLC last week said the financial and legal due diligence for the sale of its subsidiary Weligama Hotel Properties Ltd. (WHP), which owns and operates Weligama Bay Marriot Resort & Spa, has not been finalized yet by the Singap

Sri Lanka’s gem and jewellery industry has urged the government to set-up a quota system for the importation of gold for exports and sale to tourists, in order minimize the impact from the 15 percent levy on gold imports slapped last week.

The government appears to be confronted with the difficult choice between appeasing the International Monetary Fund (IMF) and its electorate, as the IMF has issued an ultimatum to the government to bring an automatic fuel pricing formula before June

REUTERS: Some 82 percent of U.S. companies operating in Germany expect revenues to increase this year, a survey showed yesterday, despite a brewing trade conflict over the U.S. decision to impose tariffs steel and aluminum imports.

The Trump administration is considering declaring a national economic emergency to impose new restrictions on Chinese investment as part of a trade crackdown on Beijing, a senior US Treasury official confirmed. Heath Tarbert, assistant Treasury secre

REUTERS:  Indian hospital operator Fortis Healthcare will set up an advisory committee to evaluate binding offers from suitors lining up to buy the cash-strapped company or take a stake.

REUTERS: Sri Lankan share index ended slightly firmer in a holiday-shortened trading session yesterday, hovering near a five-week closing high hit earlier in the week, as investors picked up banking and telecommunication shares. 

REUTERS: The Sri Lankan rupee closed weaker in a holiday-shortened trading session yesterday, weighed down by mild importer demand for the greenback, dealers said. 

REUTERS: Oil prices were set for a second consecutive week of gains yesterday, buoyed by tightening supplies and continued support from OPEC and its allies on supply cuts. 

The International Monetary Fund yesterday said they reached a staff-level agreement with the Sri Lankan government on the fourth review under the economic reform programme supported by three-year Extended Fund Facility (EFF) arrangement.

A record number of Sri Lankan small and medium scale business delegates participated at the Commonwealth Business Forum that was held from 16-18 in London alongside CHOGM 2018.

The losses of Sri Lanka’s Mattala Rajapaksa International Airport (MRIA) have decreased by 15 percent to Rs.3.39 billion in 2017 against Rs.3.9 billion recorded in 2016, mainly due to the slowing down of the rupee depreciation against the US do

REUTERS: The Sri Lankan rupee ended higher yesterday, a day after the local currency hit a record low, as greenback sales by exporters outpaced dollar demand from importers, 

REUTERS: Sri Lankan share index slipped yesterday from a five-week closing high hit the previous day, snapping a six-session winning streak, as investors offloaded select blue-chip stocks in low volumes.

With aluminium prices in the world market on the surge owing to US sanctions on Russian aluminium giant United Co. Rusal, prices of new residential and commercial projects under construction in Sri Lan

The Sri Lanka Tourism Development Authority this week announced that it will be establishing a mobile unit for registration and advisory services for establishments providing services to tourists.

Petroleum Resources Development Minister Arjuna Ranatunga said yesterday the final decision on a possible fuel price hike will be taken by President Maithripala Sirisena and Prime Minister Ranil Wickremesinghe.

The government is likely to put its rubber stamp on cost-reflective pricing formulae for fuel and electricity within this year, as the burden of state-owned enterprise (SOE) debt has been weighing on the economy for too long.

Dialog Broadband Networks (Pvt.) Ltd (DBN), a subsidiary of Dialog Axiata PLC, is seeking Rs.7.8 billion in damages from the state-owned Sri Lanka Telecom PLC (SLT), on the industrial espionage case being heard at the Commercial High Court.

The Financial Intelligence Unit (FIU) of the Central Bank has made it obligatory for designated non-finance businesses (DNFBs) to conduct customer due diligence in a bid to curb money laundering and terrorist financing activities.  

REUTERS: The Sri Lankan rupee inched up after touching a record low yesterday, with dollar demand from importers offsetting limited selling of the US currency by exporters earlier in the session, 

Sri Lanka is to form a six-member secretariat for monitoring and implementation of the proposed five-year National Export Strategy (NES), Development Strategies and International Trade Ministry Secretary Chandani Wijewardana told Mirror Business, yes

The weak link between the Colombo Stock Exchange (CSE) and global market trends is keeping earnings growth of the CSE indices below growth rates of 

The weak link between Colombo Stock Exchange (CSE) and global market trends is keeping earnings growth of CSE indices below growth rates of competing markets. 

The apparel industry, which is Sri Lanka’s leading export revenue earner, is set to gain fresh impetus from the U.S. market in the coming months, as American garment importers look for produce

Sri Lanka’s motor car registrations in March rose sharply with pre-owned or reconditioned cars hitting a record since September 2015 when the vehicle imports reached an all-time high after the Central Bank printed money to keep bank credit chea

Professor Rohan Samarajiva has been appointed the new Chairman of the Information and Communication Technology Agency of Sri Lanka (ICTA) along with a new director board.

Amidst the growing fears of an impending power crisis, the Ceylon Electricity Board Engineers’ Union (CEBEU) has informed the government that the country could experience intermittent power failures and prolonged recovery of such outages, as it

Sri Lanka has tightened its screws on money laundering and terrorist financing by amending the Companies Act, a Finance and Mass Media Ministry communiqué said. The European Parliament recently confirmed that Sri Lanka, Tunisia and Trinidad an

Sri Lanka Telecom PLC’s (SLT) unsecured Rs.7 billion debenture issue, inclusive of two greenshoe options, was subscribed on the opening day (April 11), despite two other large debenture issues opening on the same day.