Sri Lanka’s banking sector’s strength to withstand cyclical economic shocks remains weak and is affected by the country’s low income levels, said Standard & Poor’s, while revising the country’s economic risk trend to

National carrier SriLankan Airlines yesterday said it achieved a record unaudited annual passenger revenue of Rs.126.9 billion (US $ 830.7 million) for the FY2017/18 ended this March.

Amid the growing interest towards virtual currencies globally and locally, Sri Lanka’s Central Bank yesterday said it has not given the licence or authorization to any entity or company to operate schemes involving virtual currencies, including

As the economy continues to fall victim to nepotism, which taxes the nation in terms of income and productivity, Speaker of Parliament Karu Jayasuriya this week stressed the need to do away with the corrupt practice, so that the public enterprises ca

REUTERS: The Sri Lankan rupee closed marginally down yesterday on importer dollar demand in light trading ahead of the traditional festival this week, dealers said. The rupee closed at 155.65/75 per dollar, compared with Tuesday’s close of 155.

A proposal to the effect of introducing ‘standard packaging’ (colourless) for tobacco products has received the green light from the cabinet of ministers. The government said the proposal 

REUTERS: Sri Lanka’s state-owned Ceylon Petroleum Corp (CPC) is under pressure to raise fuel prices as the refiner incurred huge losses this year, cabinet spokesman Rajitha Senaratne said yesterday.

Sri Lanka’s future economic growth largely hinges on the prospects in the agriculture and domestic politics as adverse weather and toxic politics could derail the growth similar to what the country experienced in 2017, according to the Asian De

Due to the Sinhala and Tamil New Year holidays, Mirror Business will not be published from April 13 to 16. The next issue will be on April 17, 2018.  

It doesn’t matter if you are a listed company or not, you won’t be able to escape from the Securities and Exchange Commission’s (SEC) clout on you if you seek public funds for your business growth in the future.

Kotagala  Plantations PLC has divested the majority ownership in fully owned tea exporting subsidiary Union Commodities (Private) Limited for over Rs.1 billion to related parties, according to a filing at the Colombo Stock Exchange.  

About half a million Pay As You Earn (PAYE) tax payers will not have to pay taxes under the new Inland Revenue Act which came into effect from April 01, 2018, Finance Ministry said yesterday.

The World Bank yesterday commended the government’s keenness in promoting good governance but laid out its ‘wish list’ that may assist authorities to ensure better governance of public enterprises. 

A top investment banker said the capital market experts pointing fingers at investment banks, for killing investor interest with improperly priced initial public offerings (IPOs), must have done so for fun, in order to create controversy.

If you are a director or a shareholder having 25 percent or more shares in a company, it won’t be too long before an officer from the Criminal Investigation Department (CID) making a visit to your home or office to inquire how you mange to own

Despite the communal clashes that unsettled Sri Lanka’s hill country during the first two weeks of March, the tourist arrivals to the island nation in the same month grew 24.1 percent to 233,382, the data released by Sri Lanka Tourism Developme

The refusal of the Ceylon Electricity Board (CEB) to tender liquefied natural gas (LNG) power plants may cost the country over US $ 1 billion in investment into the development of offshore gas fields over the next three years, in addition to further

REUTERS: Sri Lankan share index yesterday touched its lowest close in 11 weeks, pulled down by blue-chips stocks in a moderate turnover, as many market participants were on leave ahead of the traditional Sinhala-Tamil New Year this week, brokers said

The mobile money platforms of Sri Lanka’s two leading celcos, Dialog Axiata PLC and Mobitel, have both claimed to be the first in Sri Lanka to have enabled customers to top up their mobile cash wallets directly via bank accounts.

The discretion thus far enjoyed by listed entities following good governance practices voluntarily may soon come to an end as the Securities and Exchange Commission (SEC) is gearing to issue a mandatory code where no listed entity will be spared from

Sri Lanka’s lubricant market leader, Chevron Lubricants (Lanka) PLC (CLL), said the company’s ability to command right price and influence customers to buy packed products instead of loose sales will determine its future profitability ami

Sri Lanka’s banking sector asset quality saw a sharp deterioration during the first two months of 2018 as individuals and businesses struggled to service their loans as the economy lost steam amid higher borrowing costs and taxes.  

Foreign Direct Investments (FDIs) to Sri Lanka reached an all-time high of US $ 1.9 billion in 2017, Central Bank data released last week indicated.

REUTERS: The Sri Lankan rupee ended stronger yesterday on exporter dollar conversions, inward remittances and foreign buying of government securities, as Prime Minister Ranil Wickremesinghe surviving a no-confidence motion earlier this week boosted s

AFP: Samsung Electronics flagged yesterday a first-quarter operating profit of 15.6 trillion won (US$14.7 billion), a record for any-three month period, as it benefited from soaring demand for its memory chips for mobile devices.

AFP:  Japanese online broker Monex Group said yesterday it would buy virtual currency exchange Coincheck, which was hit by a massive hack that saw thieves steal hundreds of millions of dollars in virtual currency.

An economic corridor development plan with a potential to generate 1.2 million new jobs by 2030 is being proposed by a recent study of the Asian Development Bank (ADB). 

REUTERS: Stock markets edged downwards yesterday after U.S. President Donald Trump’s threat to impose an extra US$$100 billion in tariffs on China exacerbated fears of a more serious trade dispute, while the dollar paused ahead of crucial U.S.

AFP: Prince Charles has called for a “blue economy” to promote the sustainable use of ocean resources and save Australia’s Great Barrier Reef, as he visited the World Heritage-listed ecosystem yesterday.

AFP: China said yesterday it is ready to pay “any cost” in a trade war after US President Donald Trump threatened an additional US$100 billion in tit-for-tat tariffs on Beijing.