The European Union (EU), Sri Lanka’s second largest trading partner, yesterday called on local industries to step up efforts in competing with regional peers to retain the market share of the 27 member states, and stressed greater focus is required

REUTERS: Sri Lanka’s government bonds tumbled on Tuesday as warnings that the country was at increasing risk of default continued to mount after a turbulent couple of weeks for Colombo.

Gulf Air, the national carrier of the Kingdom of Bahrain will resume its direct operations to and from Colombo’s Bandaranaike International Airport (BIA) with two weekly flights starting from 15 February 2021 on its new Airbus A320neo aircraft.

President Gotabaya Rajapaksa yesterday made an inspection visit of the model stalls that are being built for the vendors at Galle Face Green. Built by the Sri Lanka Navy, these stalls are expected to enhance the beauty of Galle Face Green.

The local banks have begun to show some reluctance towards lending to new borrowers, as they grow wary of the interest rates, which they deem too low for them to make money, while a case is building up for a possible uptick in rates in the near futur

State-owned entity Lanka Sugar Company (Pvt.) Ltd (LSCPL) has embarked on an ambitious endeavour this year, with plans being actively rolled out to venture into ecotourism.

The Institute of Certified Management Accountants of Sri Lanka (CMA) will conduct a webinar on ‘The Sri Lankan Economy: Challenges and Prospects’ today, from 11:00 a.m. to 12:00 noon, via Zoom online platform.

Oil prices rose yesterday to their highest in just over a year, with Brent futures nudging past US $ 60 a barrel, boosted by supply cuts among key producers and hopes for further U.S. economic stimulus measures to boost demand.

Balasuriya family-controlled Senkadagala Finance PLC has announced a rights issue to raise Rs.362.3 million to beef up its capital position in order to comply with the regulatory capital requirements.

Steps will be taken to set up tourism training schools at district level, in line with President Gotabhaya Rajapaksa’s policy document ‘Vistas of Prosperity and Splendour’, Tourism Minister Prasanna Ranatunga said.

The German government recently announced that it is ready to part finance ventures up to 50 percent of the investment in projects, in a number of sectors, which meet both commercial and development goals.

The Sri Lankan authorities have been able to achieve stable macro-economic indicators despite the severe economic dislocation caused by the pandemic. Inflation has remained well within the 4-6 percent target range and the improvement of the trade def

International migrants have historically been a driving force of the Sri Lankan economy and during the COVID-19 pandemic their remittances have helped boost the country’s foreign exchange earnings.

Growth and development come hand-in-hand with better governance and application of law and order. Ill-considered strategies result in leakages that will see us meandering in this constant state of a ‘developing nation’ – a poster-child of disap

The prime lending rate or the benchmark rate at which most prime customers of banks get their loan facilities approved— mostly for shorter tenors—touched a fresh low last week despite speculation that the prevailing lower rates environment would

The All Share Price Index (ASPI) has retained its position as the best performing primary stock market index in the world with the index closing trading on February 5, 2021 at 8,275.37 points, marking a 22.16 percent growth year-to-date (YTD).

The mandatory offer to purchase the remaining shares of On’ally Holdings PLC by its new controlling shareholder, Lanka Realty Investments PLC, had drawn lackluster interest with the second largest shareholder of the company, Urban Development Autho

The Maldives has recorded 92,103 tourist arrivals in January 2021. According to the Maldives’ Ministry of Tourism, the island nation witnessed a daily average tourist arrival of 2,971.

Resuming regular international flights, Mattala Rajapaksa International Airport (MRIA) on Saturday welcomed services of Kazakhstan’s national carrier, Air Astana. The first Air Astana flight, an Airbus 321 arrived at 10.28 a.m. with 160 passengers

Sri Lanka is ranked top among the countries in Asia, which have achieved human and economic development relative to the damage done to their environment and the climate.

The government has decided to enter into a bilateral social security agreement with the Indian government, allowing Sri Lankan migrant workers employed in India to directly contribute to the Employees’ Provident Fund (EPF), which will exempt the re

Sri Lanka has welcomed a total of 1,682 tourists for the month of January, recording a 99.3 percent decrease in arrivals compared to the corresponding month in 2020.

Aitken Spence Travels, the leading DMC in Sri Lanka, working in partnership with TUI Kazakhstan, will welcome the country’s first charter from Kazakhstan today (February 6) after the airports reopened for tourist arrivals.

Colombo City Centre, the premier waterfront mixed development project in Sri Lanka, has appointed Praveen Methil as the new CEO, who holds a wealth of experience spanning 24 years in real estate development, mall management and operations, brand buil

Shares of GameStop Corp and others favoured recently by retail investors fell further on Thursday, while U.S. Treasury Secretary Janet Yellen said she needed to “understand deeply” the trading frenzy that has gripped Wall Street.

SriLankan Airlines, the national carrier of Sri Lanka and a member of the prestigious oneworld alliance, joins in the celebrations of the country’s 73rd Independence Day, with the release of a video containing a trilingual narration, delivered by a

The Institute of Policy of Studies of Sri Lanka (IPS) hosted a virtual panel discussion on the ‘Recovery of Sri Lanka’s Apparel Sector from COVID-19 Crisis’, on February 2, 2021.

Diversified conglomerate Sunshine Holdings reported resilient growth in top and bottom line performances during the first nine months of the current financial year (9MFY21), with strong contributions kicking in from healthcare, agribusiness and consu

The Central Bank said it settled a swap arrangement with Reserve Bank of India (RBI), but refuted certain media reports that there was no special request from India to settle the facility prematurely.