AFP: The International Monetary Fund said yesterday it will only release a new tranche payment to Ukraine once parliament approves a long-stalled pension system overhaul and land privatisation legislation.

AFP: Energy firms took a hit yesterday after crude prices plunged almost five percent the previous day as traders were left disappointed by OPEC’s latest output cuts.

Leading South Asian property developers, Iconic Developments (Pvt.) Ltd. reiterated its confidence in the growth outlook of the Sri Lankan real estate sector, following recent concerns as to the pace of growth in the sector.

REUTERS: Sri Lankan shares ended lower yesterday, recording their first weekly decline in nine, as investors booked profits in shares of diversified companies such as John Keells Holdings Plc and Melstacorp Plc.

The leader in vehicle cushion work Edirisinghe Cushion Works opened its new branch on Colombo Road, Kurana, Negombo recently.

Fans of Michael Learns to Rock had a blast at the Danish soft rock band’s sold-out concert in Colombo on May 18, but one of them had more to cheer about – an iPhone 7 from Commercial Bank, the official banking partner for the event.

For the first time in the 44-year history of the BMICH, 30 staff members from across all departments came together to present an evening of Bakthi Gee on the Vesak Poya day to commemorate the 14th United Nations International Day of Vesak. The perfor

Vesak, commemorating Lord Buddha’s birth, attaining enlightenment and death, has become a national event in our country. Devotees keenly engage in meritorious acts including organising events such as pandals and dansals.  

After hours of tense battle among some of the most knowledgeable masterminds in the corporate sector, the 99X Technology Quiz Team emerged victorious and was crowned the Overall Champions at the fifth Glitz Biz Quiz, in addition to sweeping up the Se

Hilton Colombohas taken part in Careers@Hilton Week, Hilton’s annual global career event showcasing the many opportunities available in the hospitality industry for youth and other job 

The ostriches, lame ducks and Icaruses in the government must be caged for it to take flight like a flamingo and transform the dead economy into a competitive Asian Tiger, a senior economist in the country told a forum in Colombo, this week. 

Industry and Commerce Minister Rishad Bathiudeen yesterday rubbished rumours about a possible privatization of the state owned Lanka Sathosa chain to a diversified conglomerate in the country. 

Commercial High Court ordered that a notice be gazetted to the effect that a case had been filed to liquidate Lanka Sugar Ltd. 

Watawala Plantations PLC group, which owns and runs tea, rubber and palm oil estates, reported earnings of 89 cents a share or Rs.211.8 million in after-tax profits for its fourth and final quarter ended in March 31, 2017, recording an increase of 16

Sri Lanka will launch its Private –Public Partnership (PPP) Unit, set up through a Cabinet decision at the upcoming ‘Sri Lanka Investment and Business Conclave 2017’, which will take place on the 30th May to 01st June 2017, in Colom

MMBL Leisure Holdings (Pvt.) Ltd. a subsidiary of the MMBL-Pathfinder Group and WelcomHotels Lanka (Pvt.) Ltd., a subsidiary of ITC Limited, India, have inked a Memorandum of Understanding to develop a mid-market hotel chain in Sri Lanka.

BEIJING: China’s ambition to build a new Silk Road is not about seeking to expand its military role abroad nor about seeking to set up foreign bases, the Defence Ministry said yesterday.

AFP: Moody’s this week slashed China’s credit rating for the first time in almost three decades citing concerns about the country’s rising debt and slowing growth, but Beijing rejected the downgrade as ‘inappropriate’.

The government plans to build a hybrid energy park consisting of 240 megawatt (MW) of wind power and 800 MW of solar power plants in Punarin.

People’s Merchant Finance PLC (PMF), a unit of state-owned People’s Bank, has sold a 108 perch property it owned in Nawam Mawatha, Colombo 2, to its parent for a consideration of Rs.1.04 billion with the approval of the Central Bank. 

Sri Lankan bureaucrats and economists are currently undergoing training on how to better negotiate free trade agreements (FTAs) and set up effective trade policies at the Miloda Academy of Financial Studies, under an International Trade Centre (ITC)

REUTERS: Sri Lankan shares edged up from a one-week low yesterday as foreign investors bought shares in blue chips such as John Keells Holdings PLC, with turnover hitting a five-week high.

NEW DELHI: India and Japan will join hands to set up a US $ 250 million liquefied natural gas (LNG) import terminal in Sri Lanka, the first collaboration between the two to counter China’s growing influence in the island nation.    &n

Sri Lanka’s new Ports and Shipping Minister Mahinda Samarasinghe yesterday said he would appoint a qualified person with updated knowledge on the maritime sector as the Sri Lanka Ports Authority (SLPA) Chairman.

Pizza Hut is the only international restaurant chain to open 50 outlets in Sri Lanka. 

A group of senior officials from the Colombo Port City Development project met the transport master plan team of the Western Region Megapolis Project to discuss the ongoing study on light rail transit (LRT) lines and its connectivity to the Port City

The Advocata Institute, a think tank based in Colombo, has launched an essay competition on the topic of ‘What economic freedom means to me’.

Responding swiftly and strongly to the statement made by Central Bank Governor Indrajit Coomaraswamy, with regard to the apartment development industry, the stalwarts of the industry have stated that it was irresponsible and damaging.

The UK based International Association of Practicing Accountants (IAPA) recently inducted the Chartered Accountant firm SWT Associates, as its member firm in Sri Lanka.   

The stage is all set for a great game of rugby, when the historic rivalry between the Royalists and the Trinitians continues on field, at the 2nd leg of the 73rd Bradby Shield, scheduled to be held at Royal College, Sports Complex on the 3rd June. &n