The troubled construction major, MTD Walkers PLC, yesterday said a share sale and purchase agreement entered into with its Malaysian parent was terminated, making the company’s future prospects bleaker.

Stakeholders of Sri Lanka’s tourism industry yesterday assured that the ongoing pilot project carried out as a first step towards re-opening the country for tourists, is going ahead as planned despite some expected hiccups, for which appropriate co

The Hotels Association of Sri Lanka (THASL) yesterday welcomed the arrival of the first group of tourists to Sri Lanka since the country reopened its borders for tourism this week.

The yields of international sovereign bonds (ISBs) issued by Sri Lanka continue to moderate as investors appear to be re-evaluating their overreaction to the resurgence of COVID-19 and are now beginning to look past the market turmoil brought in by t

Prof. Lalith Gamage has been appointed as the Chairman of ICTA, taking the place of Jayantha De Silva, who will be leaving to take up the post of Secretary to the newly created Ministry of Technology.

The government has decided to increase the number of PCR tests conducted daily in the country to identify the COVID-19 infected to facilitate overseas arrivals.

The unemployed population is projected to have fallen further towards 5.3 percent by the year-end as the economy added jobs and companies recalled workers who may have been furloughed during the coronavirus pandemic.

The government has decided to create 200,000 self-employment opportunities in 2021 with the aim of reviving the rural economy, which has been hit hard by the COVID-19 pandemic.

Kotagala Plantations yesterday revealed plans to raise up to Rs.789.8 million via a rights issue.

Impaired loans or the loans set aside for possible default fell in the two large State banks as opposed to fears that such loans could rise at exponential levels due to the pandemic triggered economic malaise.

In a strategic move, Sri Lanka’s most prominent investment bank, Capital Alliance (CAL), has augmented is portfolio of services to launch a new logo to reposition itself as a future-oriented company catering to family-owned businesses, whilst alrea

Sri Lanka’s largest Electronic Vehicle (EV) charging network, ChargeNET, has partnered with India’s EV COSMOS to extend smart electric charging solutions across the neighbouring giant.

In the backdrop of the Colombo Stock Exchange (CSE) celebrating its 35th year in operation earlier this month, its newly appointed Chairman Dumith Fernando sat with Mirror Business to discuss his views and the upcoming plans for the country’s capit

The Ministry of Tourism on Sunday (27) put out a set of modified protocols that are to be followed and the responsibilities of each stakeholder so that the execution of the ongoing pilot project aiming to review the country’s tourism industry amid

The government is expected to give the green light to house casino operations in the upcoming Cinnamon Life mixed development project as the new administration is keen on doing everything at their disposal to attract a new segment of tourists as well

Sri Lanka Association of Inbound Tour Operators (SLAITO) yesterday commended the efforts of the government, particularly the Tourism Minister Prasanna Ranatunga and former Ambassador to Russia, Udayanga Weeratunga for re-opening Sri Lanka for tourism

The transshipment container volumes at the Port of Colombo slumped in November as the port’s operation faced disruptions due to the second wave of COVID-19 in the country, leading to congestion at the container terminals.

Sri Lanka Prosperity Index (SLPI) marginally increased to 0.802 in 2019 from 0.811 in 2018 driven by improvements in ‘Well-being of the People’ sub-index, which h offset marginal declines in ‘Economy and Business Climate’ and ‘Socioeconomic

Three key sectors in the economy—wholesale & retail trade, consumption and construction— have gobbled up most of the private sector credit by banks, which are also the main drivers of the economy in the post-lockdown period.

India decided on Monday to lift a ban on onion exports from January 1, as prices have fallen sharply in the last few weeks on expectations of a big crop.

President Gotabaya Rajapaksa has directed the Commissioner of Excise, M.G. Gunasiri to issue a gazette notification banning the use of maize for the production of alcohol and ethanol, the President Media Division (PMD) announced.

A total of 366 individuals have tested positive for Covid-19 so far today, the Government Information Department said.

The notion that a sovereign government can print money to repay its debt without any financial limit has gained increased popularity in recent times, particularly in the US, based on a new approach to macroeconomics, known as Modern Monetary Theory (

President Gotabhaya Rajapaksa on Saturday (26) visited Pahalagama, Elapattu in Anuradhapura and inspected the damage caused to maize cultivation by the fall armyworm caterpillar.

Sri Lankan migrant workers continued to send back their hard earned money in large sums to their loved ones at home, repeatedly higher than what was sent last year, despite the COVID-19 pandemic and certain extremely negative forecasts.

The Central Bank said the newly introduced housing loan scheme at 7 percent cannot be utilised for settling existing housing loans and by commercial scale real estate developers.

Associated Motor Finance Company (AMF) PLC and Arpico Finance Company PLC (AFC) have received approval from the Central Bank to merge their operations in line with the government’s financial sector consolidation programme.

The government has decided to increase the export of agricultural crops from next year, and plans have already been drawn up for the development of minor crops, the State Minister of Development of Minor Crops Related Industries and Export Promotion

As authorities continue to explore avenues to welcome international travellers amid the pandemic, the tourism industry is of the view that required is a clear set of protocols to ensure all stakeholders are on the same page.

A rating agency official who declined to be named said they are receiving a considerable number of applications seeking new credit ratings, in an indication that coming year could see an influx of companies wanting to raise money either through equit