In light of Oman Oil and Gas Ministry denying being part of a US $ 3.85 billion refinery project in Hambantota, Sri Lanka’s Board of Investment (BOI) yesterday said that they were aware Oman Oil Company has ‘firm intention’ in taking

(Paris) AFP: Glyphosate, the world’s most widely used herbicide and the active ingredient in Monsanto’s weedkiller Roundup, is the subject of fierce controversy across the globe and is classified by the World Health Organization as “proba

Sri Lanka’s share index fell for a fourth straight session yesterday to a more than 6-year closing low as investors exited the island nation’s risky assets, while they awaited cues from the third and final vote on the 2019 budget,

Khaadi, an iconic fast fashion retail force, has appointed MTI Consulting for its Sri Lanka market entry. Having carried out an initial market feasibility study, Khaadi has identified the high potential to establish the premium ethnic fashion brand

The sluggish economy and deceleration of vehicle sales are hurting Sri Lanka’s non-bank lenders, as the sector is facing risks raging from weaker asset quality, muted growth, underwhelming profitability and need for higher regulatory capital. Acco

Finance Minister Mangala Samaraweera called on former Finance Minister Ronnie de Mel, yesterday. The meeting took place at the Colombo residence of de Mel. Former Southern Province Chief Minister H.G. Sirisena was also present at the meeting.

In a joint venture, Ceylon Steel Corporation and UAE-based Onyx Group of Companies are investing US $ 100.08 million to set up a cement blending and grinding plant in the Mirijjawila Export Processing Zone, in Hambantota. Development Strategies and I

In the final quarter of 2018, Sri Lanka’s economic growth plunged to the lowest since 2014, reflecting the disastrous impact the 51-day political crisis had on the country’s economy, the data released by the Department of Census and Statistics (D

The government will collaboratively work with the banking sector to bring down the high market interest rates in the country, to boost private investment in order to support economic growth, Prime M

(Singapore) AFP: Singapore rejected yesterday Sri Lankan President Maithripala Sirisena’s allegation it was sheltering a former Central Bank chief wanted for fraud, saying Colombo failed to provide documen

(Colombo) Reuters: Sri Lanka’s share index ended little changed yesterday, hovering near its 5-1/2-year low, as investors awaited direction from the third and final vote on the 2019 budget, market sources said.

The Federation of Information Technology in Sri Lanka (FITIS) has written to Finance Minister Mangala Samaraweera to reconsider the imposition of the 3.5 percent Nation Building Tax (NBT) on all foreign payments using credit and debit cards.

According to MTI’s Corporate Finance and Investment Banking practice, over the next two years, Sri Lanka is likely to witness a strong pipeline of mid-cap merger and acquisition (M&A) deals.

Huawei expects to play a major role in developing Sri Lanka’s smart city ecosystem to further enhance the growth in Huawei’s Enterprise Business segment and to support the country’s vision to become an ICT hub in the region.

The Colombo Stock Exchange (CSE) has renewed the call for the return of captive funds such as the Employees’ Provident Fund (EPF) to reinvigorate the ailing market.

The government will begin the implementation of key programmes and formulating the required legislative reforms within the next three months to support the digitalisation of the Sri Lankan economy. Digital Infrastructure and Information Technology N

The cold war between President Maithripala Sirisena and Prime Minister Ranil Wickremesinghe is delaying the development of Colombo Port’s East Container Terminal (ECT), slimming the country’s chances of becoming a maritime hub in the region, a se

Billionaire businessman and corporate leader Dhammika Perera says Sri Lanka’s private sector must take the lead in adopting Artificial Intelligence (AI) to drive future economic growth as AI enables logical decision making.

(Washington) AFP: There is virtually no chance the US Federal Reserve will raise interest rates in the coming week, since policymakers have all but promised to hold their fire as the global economy slows.

Huawei, a leading global provider of ICT infrastructure and smart devices, recently announced its procurement results for 2018 in the South East Asia (SEA) region, which amounted to US$ 608 million.

Sri Lanka’s textile and garment exports rose 5.7 percent year-on-year (YoY) to little over US $ 5.3 billion, the external sector data released by the Central Bank showed.

The Purchasing Managers’ Index (PMI) decelerated in February from a month ago in both manufacturing and services sectors as automation and Artificial Intelligence (AI) were seen fast changing the dynamics of the latter.

The government of Sri Lanka has embraced Free Trade Agreements (FTAs) as a key focus of the national trade and development strategy. The rationale of this policy choice has been intenselydebated in the Sri Lankan policy circles. The debate has reach

Ratan Naval Tata, (born 28 December 1937) is an Indian industrialist, investor, philanthropist, and a former chairman of Tata Sons. He was also chairman of Tata Group, from 1991 to 2012, and again, as interim chairman, from October 2016 through Febru

The Spices and Allied Products Producers’ and Traders’ Association (SAPPTA) yesterday expressed satisfaction at the reduction of the Economic Service Charge (ESC) for those corporates paying concessionary taxes to 0.25 percent, as against 0.5 per

(Hong Kong) AFP: Asian markets rose yesterday as Donald Trump struck an upbeat note on trade talks with China, while the pound held steady after British MPs voted to delay Brexit.

(Colombo) REUTERS: Sri Lanka’s share index fell yesterday, hovering near a 5-1/2-year low and recording its sixth straight weekly drop, as investors sold risk assets while they awaited the impact of 2019 budget proposals, market sources said.

(Beijing) AFP: China’s rubber-stamp parliament approved a foreign investment law yesterday that may serve as an olive branch in trade talks with the United States, but it received a lukewarm welcome from business groups.

(Colombo) AFP: Australia will launch a seven-nation Indian Ocean military exercise next week, starting in Sri Lanka where China has invested in strategic ports and loaned huge amounts to build other infrastructure, Canberra’s envoy said yesterday.

The statistics obtained by John Keells Properties Sector Head Nayana Mawilmada revealed that the majority of the Colombo-based condominium buyers are local, standing at 65 percent, while 27 percent are expatriates.