Finlays Colombo Ltd. (Finlays) has sold its temperature-controlled logistics business in Sri Lanka operating under Finlay Cold Storage (Pvt) Ltd. to Emergent Cold for Rs.3.62 billion, Finlays Colombo’s latest annual report indicated.

Sluggish economy and weakened consumer confidence could persist until the Presidential election is announced towards the latter part of the year. But the collapse in the rupee could be less severe than earlier predicted due to a potentially weak doll

(Colombo) REUTERS: Sri Lankan shares rose for the fifth straight session yesterday to end at a near six-week high on local buying, even as foreign investors continued exiting the island nation’s risky assets, while the rupee edged lower on importer

The government will increase a monthly allowance given to differently-abled people to Rs.5, 000 from Rs.3, 000, Finance Ministry said in a statement.

(London) AFP: World oil prices surged yesterday on reports that two tankers had been attacked in the Gulf of Oman, worsening frayed tensions in the crude-rich Middle East region, analysts said.

Sri Lanka Tourism this week launched a new and updated website www.SriLanka.travel aimed at serving the potential tourists as a ‘one-stop-shop.’ Earlier, Sri Lanka Tourism Development Authority (SLTDA) and Sri Lanka Tourism Promotions Bureau (STP

Social media have ascertained a dynamic and organic rapport with politics. Smartly hijacking the command print and broadcast media had over public affairs, now social media determine, to a large extent, how we are governed and by whom.

The stakeholders of the badly-hit tourism industry have come to one platform to help revive the market by offering nominal rates and putting together a special promotional campaign to attract travellers, starting with the Indian market.

Hambantota International Port (HIP) is being positioned as a multi-purpose port, a top port executive said following the port’s recent participation in the world premier transport and logistics exhibition, Transport Logistics 2019, held in Munich,

Sri Lanka and China have agreed to resume the stalled free trade agreement (FTA) negotiations, following a recent informal discussion between Development Strategies and International Trade (MODSIT) Minister Malik Samarawickrama and Chinese Ambassador

Sampath Bank PLC’s Rs.12.1 billion rights issue, which officially closed last Friday (June 7), was undersubscribed, the bank said in a stock exchange filing.

The Asian Development Bank (ADB) will fund a feasibility study and survey to explore the possibility of Sri Lanka adopting liquefied natural gas (LNG) for power generation to help diversify the energy mix of the island nation.

(Colombo) REUTERS: Sri Lankan shares rose for the fourth straight session yesterday to hit a more than five-week closing high on local buying, offsetting continued foreign selling in equities, while the rupee ended slightly weaker on dollar demand fr

The ongoing battle between the US and the Chinese tech giant, Huawei, is escalating due to both parties’ eagerness to dominate 5G technology, the next major globa ltechnological revolution.It will define the future of the world wide web, creating a

Today most people think of gaming, virtual reality glasses and video when asked about virtual reality. The concepts of virtual reality in these areas have been around for some years, but what if we look beyond the media space. Do you realize that the

The world stands on the brink of a Fourth Industrial Revolution, where dramatic changes in technological advancements will have profound impacts on the future employment landscape and skill requirements. This means that engaging in lifelong learning

Sri Lanka’s national telecommunication provider Sri Lanka Telecom (SLT) and national mobile service provider Mobitel yesterday launched the ‘National Digital Roadmap’, marking a big step in the overall digitisation of national services and trad

Sri Lanka’s largest 54 State-owned Enterprises (SOEs) recorded a combined loss of Rs.26 billion in 2018 compared to a profit of Rs.59 billion in 2017, mainly due to record losses at Ceylon Petroleum Corporation (CPC).

Leading renewable energy developer Panasian Power PLC has announced a private placement to Emerald Fund, one of the largest private equity funds in the country, subject to Colombo Stock Exchange and shareholder approval. At Rs. 3.20 per share the Eme

Sri Lanka’s industrial production hit a three-year low in April amid New Year holidays and Easter bombings that kept workers away from factories, the data released by the Department of Census and Statistics showed.

Sri Lankans, once believed to have taken a less sugary and health-conscious path, appear to have made an about-turn as they have continued to favour the sugary variants in their selection of carbonated soft drinks prompting the market leader to withd

(Colombo) REUTERS: Sri Lankan shares ended firmer for the third straight session yesterday to hit a near one-month closing high on local buying, even as foreign investors continued to pull out funds from equities, while the rupee ended slightly stron

One of the key growth drivers of the global liquefied petroleum gas (LPG) market is the use of LPG as a cooking fuel, primarily seen growing rapidly in countries in the Asia-Pacific, Africa and South and Central American regions. This segment account

In the aftermath of the disruption caused by the tragic events on Easter morning, on April 21, 2019, the Board of Investment (BOI), represented by its Media and Publicity Director Dilip S. Samarasinghe, spoke to Kyoto, Japan’s Tosslec Co. Ltd Presi

In Sri Lanka, fabricated stories posing as serious journalism is gradually becoming the order of the day and is not likely to go away as they have become a means for some unscrupulous writers to make money and potentially influence public opinion for

(Colombo) REUTERS: Sri Lanka’s battered tourism industry is trying to woo visitors back to beaches deserted after deadly Easter bombings, slashing hotel rates and pushing promotions in key markets like Russia.

Sri Lanka’s banks have made a chorus call to the government to completely remove or at least suspend the Debt Repayment Levy (DRL) slapped on them that gobbles up millions of rupees from their profits at a time when the bulk of the economy’s weig

Eight state-owned enterprises (SOEs) entered into Statements of Corporate Intent (SCI) with the Finance Ministry in a bid to strengthening their governance, accountability and transparency, under clearly defined medium-term performance-driven targets

(Colombo) REUTERS: Sri Lankan shares ended firmer for the second straight session yesterday in dull trade to hit a one-week closing high, while the rupee ended slightly stronger, market sources said.

Shangri-La Hotel, Colombo, yesterday said it would be welcoming guests back from tomorrow onwards, after the deadly Easter Sunday bombings.