John Keells Hotels provided a corporate guarantee for Rs.2.45 billion to People’s Bank on Wednesday, in respect of a long-term loan facility obtained by its subsidiary, Ceylon Holiday Resorts Ltd, for redevelopment of Cinnamon Bentota Beach. “Th

HONG KONG (AFP) - Apple yesterday removed a Hong Kong map application used by pro-democracy protesters, saying it endangered police, after China warned the US tech giant to drop the app. According to a statement p

HONG KONG (AFP) - Asian markets were mixed yesterday with investors moving cautiously as they sifted through conflicting reports about the outlook for upcoming China-US trade talks.

With nearly one-third of Sri Lanka’s adult banked population considered to be inactive account holders and many facing significant constraints in accessing finance, the World Bank (WB) urges the country’s banks to position themselves as developme

The European Union (EU) is providing EUR 40 million to Sri Lanka to co-finance the Strengthening Transformation, Reconciliation and Inclusive Democratic Engagement (STRIDE) project.

Sri Lanka becomes the most improved economy in the South Asian region in Global Competitiveness Index 2019, by gaining 1.1 index points and improving its ranking to 84th, out of 141 countries, due to the improvements in socio-economic elements.

(Colombo) REUTERS: Sri Lanka’s Central Bank will likely leave its key interest rates on hold at a policy review tomorrow, after a 50-basis-point cut in August, a Reuters poll showed, ahead of presidential elections and as lower bank rates go into e

Sri Lanka’s unemployment rate has inched up to 4.9 percent during the second quarter of 2019, up from 4.7 percent in the quarter ended in March 2019, although the total number of employed persons has increased.

John Keells Hotels provided a corporate guarantee for Rs.2.45 billion to People’s Bank yesterday, in respect of a long-term loan facility obtained by its subsidiary, Ceylon Holiday Resorts Ltd, for redevelopment of Cinnamon Bentota Beach.

We believe Facebook can be a valuable force for democracy around the world, encouraging healthy debate, providing voters more direct access to their candidates and giving more people a voice in the political process. That is why we are focused on ens

The Central Bank (CB) expects private sector credit growth to pick up by end of this year amid anticipated low interest rates through lending rate caps slapped on banks and enhanced business confidence. Speaking t

For a record 14th year, John Keells Holdings PLC (JKH) was ranked as the Most Respected entity in Sri Lanka, in the recently released edition of LMD’s Most Respected entities issue. In terms of the 10 attribute rankings, JKH has taken the lead in s

First Capital Research predicts zero chance for a third policy rate cut this year ahead of Central Bank’s Monetary Policy Review scheduled for this Friday. “The Central Ba

A consortium of leading local banks, comprising of the Bank of Ceylon, NDB Bank and National Savings Bank has raised a syndicated loan of US$ 25 million (Rs 4.5 billion at current rates) for Sri Lanka’s showpiece high rise property development Alta

HONG KONG (Reuters) - Hong Kong’s bourse yesterday dropped its unsolicited US$ 39 billion bid for London Stock Exchange Group (LSE), conceding it hadn’t won over LSE management for a move that could have transformed both global financial services

MTD Walkers PLC, a construction major mired in losses, yesterday informed the Colombo Stock Exchange that one of its creditors has obtained an enjoining order preventing them giving effect to a recent volunta

Jonathan Alles, Managing Director and Chief Executive of Hatton National Bank (HNB) in an interview with Mirror Business speaks about the bank’s key achievements, banking sector performance, fourth industrial revolution etc. Excerpts:

The lending rate caps on banks may not yield the desired effect of stimulating credit demand in the short term, as the root cause of the problem lies not with the rates but with the borrower sentiments and subdued economic activity, said Fitch Ratin

The Sri Lanka Export Development Board (EDB) kicks off the groundwork to develop an international wellness tourism strategy and a brand development initiative within a year, to position the country as a leading player in the US $ 2.6 trillion global

Following two years of extensive negotiations and deliberations, Litro Gas Lanka, Sri Lanka’s largest importer and supplier of liquefied petroleum gas (LPG), has been able to arrive at an agreement with the Consumer Affairs Authority (CAA) of Sri L

The finance sector holding company of Softlogic Holdings PLC, Softlogic Capital PLC, yesterday revealed plans to raise Rs.1.5 billion via a listed debenture issue.

Capital Alliance (CAL) extends its market leadership in investment banking services with its transaction footprint exceeding Rs.100 billion in the past two years.

(Colombo) REUTERS: Sri Lankan stocks and rupee closed firmer yesterday after presidential frontrunner Gotabaya Rajapaksa, who faced uncertainty over his candidature, filed a nomination early in the day.

The middle-income trap has become a concept deployed frequently in conversations among policymakers and academics in East Asia. The term is used by those trying to understand failed industrial upgrading in the region, which has occurred against a bac

As Sri Lanka’s annual public service salary and pension bill exceed one trillion rupees per annum for the first time in history, the writer calls upon Presidential Candidates to present their proposals for meaningful public service reform.

Cinnamon Hotels & Resorts, the leisure arm of John Keells Holdings continues expansion with the opening of its newest hotel, Cinnamon Velifushi Maldives. The opening of the new r

Sri Lanka is urged to broad-base its high school education system through a multidisciplinary and interdisciplinary approach to prepare future graduates to stay relevant in the dynamic economy.

Addressing the 59th Session of the WIPO General Assemblies recently, the delegation of Sri Lanka recalled how strengthened Intellectual Property systems remained critical to the effective pursuit of economic and social development, by enabling develo

Sri Lanka has activated the long awaited free insurance facility to its historic crafts and handicrafts sectors. Sri Lanka announced it’s also keen on introducing hi-tech design tools to its craftsmen so that their intricate work could garner bett

As Sri Lanka increasingly indicates characteristics of a debt trap scenario, an academic urges the government to consider setting-up a professional debt management unit to manage the debt efficiently. “A typical debt trap situation is when you a