The used car market in the United States is seeing an unprecedented phenomenon: owners selling vehicles for as much or more than they paid for them.

Sri Lanka Telecom PLC yesterday announced the appointment of Janaka Abeysinghe as the Chief Executive Officer (CEO) with effect from February 1, 2022.

The government should tell the nation as to how it is going to service the massive debt liabilities falling due for this year, as all the three global rating agencies have downgraded Sri Lanka’s sovereign rating deeper into junk territory—latest

The government can continue to remain stubborn on not going to the International Monetary Fund (IMF) for a bailout, only if the underutilised State-owned asset sale process is expedited significantly in the near future, a leading Colombo-based invest

Sovereign debt restructuring can be pre-emptive or post-default. A default is inherently costly, as it can result in a sustained loss of access to capital markets. That leaves pre-emptive restructuring when a country deems itself unable to service ou

Two farming communities in Veheragala in the Rambawa Divisional Secretariat and Dachchidamana in Medawachchiya were the beneficiaries of the most recent leg of Tokyo Cement Group’s Fountain of Life purified drinking water project.

Evergreen Shipping Agency Lanka (Pvt.) Ltd, a joint venture between Hemas Transportation (Pvt.) Ltd and Evergreen Marine (Hong Kong) Limited, partnered with the Marine Environment Protection Authority (MEPA) to address marine pollution in Sri Lanka.

Nestlé Nestomalt is conducting the ‘Buddhi Prabhodaya’ webinar series for the second consecutive year, to support the students sitting for their GCE A/Ls in February 2022.

HTS Group bagged a much-coveted CSR Project of the Year award at Business Excellence Awards 2021, organised by Business World International Organisation and Best Social Services Company Award, at South Asian Business Excellence Awards 2021, organised

Assetline Leasing Company Limited (ALCL) recently introduced several projects as part of its efforts to further develop its operations in the Northern province.

Brandix Apparel Limited continued its annual ‘Ran Daru Thilina’ programme for the sixth consecutive year, providing 8,354 children of Brandix Associates with schoolbags and stationery items for the new school year.

In contrast to repeated claims made by the authorities, worker remittances income plummeted as much as 60 percent from the same month last year extending the declining streak for the eighth consecutive month.

India has confirmed its support to Sri Lanka by way of a currency swap under the SAARC arrangement and a deferment of a previous loan.

Leading integrated logistics company, Maersk has warned its customers that 2022 will be yet another challenging year as there will be more issues in the global supply chains going forward.

S&P Global Ratings (S&P) downgraded Sri Lanka’s sovereign credit rating yesterday, citing heightened conditions for a foreign debt default in the next 12 months, becoming the third rating agency to strike against Sri Lanka’s waning external finan

President Gotabaya Rajapaksa and Prime Minister Mahinda Rajapaksa yesterday inaugurated the second phase of the construction of the East Container Terminal (ECT),

While expressing confidence in meeting the external funding targets set out in the six-month road map, the Central Bank plans to unveil a new nine-month programme by the end of this March to continue with its debt restructuring efforts, with the over

The government has started negotiations with China for a new loan facility to cushion the upcoming debt repayments to that country.

The initial public offering (IPO) of Hela Apparel Holdings Limited (Hela Clothing), one of the largest IPOs ever in Sri Lanka, received an overwhelmingly positive response, being oversubscribed within hours of the offer opening, yesterday.

Although 2021 ended as the year with a record number of initial public offerings (IPOs), the issuers have failed to appeal to a broader investor base, as none of the IPOs were able to garner subscriptions from a large number of investors.

Sri Lanka’s tourism sector has witnessed a great start to the new year, with the country being successful in attracting over 29,000 international visitors within the first 10 days of January. The Sri Lanka Tourism Development Authority (SLTDA), in

Sri Lanka is the poster child for China’s so-called “debt trap diplomacy”, so asking Beijing for easier repayment terms looks logical amid a worsening financial crisis.

Orriss Ceylon (Pvt.) Ltd, carrying out its food and beverage business under the name ‘Chaiwala Colombo’ at the outlets located on Marine Drive and in Colombo,

Selendiva Investments Ltd has called for Expressions of Interest (EOI) from investors for the development of the over 150-year-old iconic heritage properties Grand Oriental Hotel (GOH) and York Building as a high-end international boutique hotel.

The Institute of Internal Auditors (IIA) Lanka Chapter, which is an affiliate of IIA Global based in the USA, elected its new executive committee, at the virtual Annual General Meeting held recently.

German frigate Bayern will arrive in Sri Lanka on January 15 and will be docked at the Colombo Port till January 18, 2022.

Ambeon Holdings PLC announced the appointment of Dr. Sajeeva Narangoda as Executive Director to the holding and management company Ambeon Holdings PLC.

Acorn Group entered into a strategic partnership with ASL Logistics to launch Fortiz Logistics International (Private) Limited, a fully licensed logistics provider spanning multi-faceted industries serving sea, air and land, at an official ceremony h