Sunshine Holdings PLC and CIC Holdings PLC yesterday said they have agreed in principle to combine their healthcare businesses. Sunshine Holdings will have 60 percent of the shareholding of the combined business and the effective management control w

As several districts in Sri Lanka continue to recover from the prolonged drought last year, recurring floods and landslides hamper economic activities in the country. Sri Lanka was ranked as the second most affected country by the impacts of weather-

Sri Lanka’s trade deficit expanded over US $ 10 billion in the year 2018 despite a significant decline in the December trade deficit with a notable deceleration in the import expenditure, the data released by the Central Bank showed.

With an eye on achieving the targeted three million tourist arrivals this year, a newly constituted Tourism Advisory Committee has been appointed by Tourism Development, Wildlife and Christian Religious Affairs Minister John Amaratunga.

The Finance Ministry’s Public-Private Partnership (PPP) unit chief yesterday pointed out that the PPP process is not functioning at its best capacity and the relevant stakeholders could look at exploring new options in improving the situation that

(Colombo) REUTERS: Sri Lankan shares fell for a fourth straight session yesterday, hovering near 5-1/2-year low, as investors sold blue chips amid concerns over economic and political stability.

A consortium consisting of Japanese and Sri Lankan firms will be awarded the contract for planning, procurement assistance, construction, supervision and project management of the Fort-Malabe Light Rail Transit

The Cabinet of Ministers has given its approval to implement a price formula on imported milk.

When Narendra Modi became Prime Minister in May 2014, his Bharatiya Janata Party formed India’s first majority government in almost 30 years. Modi’s tenure ends in May 2019. By then, elections involving more than 900 million people will have chos

Finance Minister Mangala Samaraweera presented his second budget last week. This was also the first budget of the United National Party-led government, after the end of the uneasy coalition government with President Sirisena’s Sri Lanka Freedom Par

A delegation from Michelin, the French tire manufacturing giant met with the Board of Investment (BOI) Chairman Hemasiri Fernando and Director General Champika Malalgoda recently.

The National Chamber of Commerce of Sri Lanka (NCCSL) observed that it’s challenging for the government to increase total revenue by 20 while keeping the budget deficit at 4.4 percent of Gross Domestic Product (GDP) this year amidst a slow GDP grow

KUALA LUMPUR (Reuters) - The Malaysian government is considering whether to shut, sell or refinance national carrier Malaysia Airlines (MAB), Prime Minister Mahathir Mohamad said yesterday.

(Colombo) REUTERS: Sri Lanka’s shares fell for a third straight session to a more than 5-1/2-year low yesterday as investors awaited a budget vote later in the day to assess the political stability of the government led by Prime Minister Ranil Wi

Sri Lanka Tourist Police yesterday said they arrested a 36-year old in connection to the alleged harassment of a tourist in Mirissa, which went viral on social media recently.

Sweden-based leading enterprise software solution provider, IFS, is poised to increase its workforce by 23 percent in Sri Lanka this year as the firm is shifting a large chunk of its overseas support functions to Sri Lanka, betting on the country’s

Sri Lanka government’s efforts for fiscal consolidation will be challenging, given its ambitious revenue targets and election spending—which are difficult to do without—and their success will largely depend on policy effectiveness and faster ec

The Sri Lankan government yesterday signed a concessionary loan agreement with the Japan International Cooperation Agency (JICA) to borrow JPY 30,040 million (approx. Rs.48 billion) for engineering services and construction of a light rail transit (L

The Board of Investment (BOI) recently signed an agreement with the John Keells group subsidiary Logipark International (Pvt.) Ltd to construct, commission and operate a logistics centre to provide integrated logistic services, container freight stat

(Colombo) REUTERS: Sri Lankan shares ended at a 5-1/2-year low and the rupee fell yesterday as investors awaited a budget vote on Tuesday to assess the political stability of the government led by Prime Minister Ranil Wickremesinghe.

Echoing similar sentiments to that of Moody’s, Fitch Ratings Limited expressed doubts over the government’s ambitious fiscal consolidation agenda, which targets to shrink the budget deficit to 4.4 percent of GDP this year, from 5.3 percent in 201

Perhaps levelling the sharpest criticism so far against the Budget 2019 presented last week, a top economist and a commentator of socio-political issues charged that the budget lacks clear direction as it tries to be everything for everyone and its a

As National Development Bank (NDB) is set to achieve a systematically important domestic bank status this year, reaching Rs 500 billion in assets, the top officials of the bank expressed their confidence on meeting increased capital adequacy requirem

The Colombo Stock Exchange (CSE) is expected to sign a memorandum of understanding (MoU) with London Stock Exchange (LSE) shortly, to explore the possibilities of dual listing of Sri Lankan government’s foreign currency denominated debt.

Norway’s trillion dollar sovereign wealth fund, the world’s largest, managed by the Norwegian Central Bank, Norges Bank, had investments to the tune of US $ 98.3 million in Sri Lankan stocks by end of last year.

Sri Lanka’s tourist arrivals for the month of February rose 7 percent year-on-year (YoY) to 252, 033, with visitors from Europe accounting for over half of the arrivals, the data released by the Sri Lanka Tourism Development Authority (SLTDA) showe

Eric Le Corre, Corporate Vice President Public Affairs, Michelin and Nandita Khurana, Zone Head – Legal, Michelin, met Export Development Board (EDB) Chairperson/CEO recently to explore opportunities in the Sri Lankan tyre sector. French Ambassado

Frederick Wallace “Fred” Smith (born August 11, 1944) is the founder, Chairman and CEO of FedEx, originally known as Federal Express. The company is headquartered in Memphis, Tennessee.

The world’s leading travel and trade show, ITB opened in Berlin, Germany on Wednesday (6th) where Sri Lanka took center stage with the inauguration of its stand-out pavilion and country branding amidst much grandeur and fanfare.