(Dubai) REUTERS: Iran’s central bank has proposed slashing four zeros from the rial, State news agency IRNA reported yesterday, after the currency plunged in a year marked by an economic crisis fuelled by  U.S. sanctions.

he Sri Lanka Ports Authority (SLPA) has substantially raised its port charges and other related tariffs effective from January 1, 2019, a move that has taken importers, exporters and other key stakeholders by surprise, as it will drive up costs for m

The budget 2019, which is to be presented to Parliament on February 05, will be prepared with a focus to reduce the fiscal deficit to 3.5 percent of the Gross Domestic Product (GDP) and mainta

Hayleys Advantis Ltd (Advantis), the transportation and logistics arm of Hayleys PLC, announced that it has entered into a landmark deal with Dubai-based Trustworthy.ae Group to manage the container depot in Abu Dhabi.  Advantis is to operate an

Standard Chartered last Friday announced the appointment of its first Sri Lankan Chief Executive Officer (CEO), Bingumal Thewarathanthri with effect from January 1, 2019.

The Japan International Cooperation Agency (JICA) has agreed to lend US $ 1.85 billion to Sri Lanka to build a light rail transit (LRT) service between Colombo Fort and Malambe to ease the cong

The Central Bank entered into a Memorandum of Understanding (MoU) with the Securities and Exchange Commission of Sri Lanka (SEC) and the Insurance Regulatory Commission of Sri Lanka (IRCSL) on 31 December 2018, to conduct effective consolidated risk-

(Tokyo) AFP: Former Nissan Chairman Carlos Ghosn is likely to appear in a Japanese court next Tuesday to hear the reasons for his detention, after his lawyers deployed a little-used article of the Constitution. The shock move was the latest in a seri

(Berlin) REUTERS: Hackers have posted personal data from hundreds of German politicians from major parties including credit card details and mobile phone numbers, with Chancellor Angela Merkel among those affected, local media reported yesterday. Ger

(London) REUTERS: Oil rose towards US$ 57 a barrel yesterday after China said it would hold talks with the United States to look for solutions to a trade dispute, while signs of lower crude supply also supported prices. The Organization of the Petrol

The Central Bank has extended the suspension on controversial primary dealer Perpetual Treasuries Limited by six months. “The Monetary Boar

(Zurich) REUTERS: Food group Nestle said on Thursday a ruling by India’s Supreme Court marked a partial victory in its row with the government over Maggi noodles. Maggi, Nestle India’s single-la

(The Hauge) AFP: US internet giant Google used a legal mechanism to transfer almost 20 billion euros from the Netherlands to Bermuda in 2017 for tax purposes, a Dutch newspaper report said yesterday.

REUTERS - The Sri Lankan rupee ended steady near a record low yesterday, as foreign fund outflows mainly, from government bonds, continued amid dented investor sentiment after a recent political crisis.

The Cabinet of Ministers has approved a proposal by Finance and Mass Media Minister Mangala Samaraweera to hold negotiations and enter into an agreement with the Japan International Cooperation Agency (JICA) to fund a light rail system. The 17km-long

The Sri Lanka Tourism Development Authority (SLTDA) and Sri Lanka Tourism Promotion Bureau (SLTPB) have got new acting chairmen as the appointment of permanent chairmen is further delayed as the President has got tough on qualification criteria of ne

The Central Bank is likely to tighten the regulations on Licensed Finance Companies (LFCs) and Specialised Leasing Companies (SLCs) to ensure higher capital adequacy and loan loss provisioning, im

Former Port and Shipping Minister Mahinda Samarasinghe says the implementation of the 3-year comprehensive plan during his tenure helped the Port of Colombo achieve a historic handling of seven million containers in 2018. Issuing a statement yesterda

While commending the Export Development Board (EDB) for fast tracking initiatives to improve the country’s export income, the National Chamber of Exporters (NCE), pointed out that a number of issues would need to be ironed out to pave the way f

The Export Development Board (EDB) has set an ambitious target of fetching US$ 20 billion through merchandise and services exports in 2019, a goal that has been set following the export revenue movin

The ideologies of the United National Party (UNP) and Sri Lanka Freedom Party have shaped the political experience of both Maithripala Sirisena and Ranil Wickremasinghe. These ideologies, experiences and struggles for dominance over the other have be

CNBC: What might seem as a crisis averted in Sri Lanka — is actually far from being over and investors could potentially be underestimating the level of uncertainty in the country, an expert told CNBC.  

In the rapidly developing world, inventions are like mushrooms blooming overnight in the fields of science and technology. An invention is a practical solution to a problem on the field of technology and it could be in form of a process or a product.

Tourist arrivals to Sri Lanka grew 10.3 percent to 2,333,796 from the previous year with December seeing the arrival of the highest number of tourists for a month despite the political turmoil that rocked the island nation from October 26 to the mid

Sri Lanka’s gross domestic product (GDP) is possibly understated by over 0.5 percent last year as the Department of Census and Statistics (DCS) lacks resources to capture required data to support the new methodology adopted in 2015, according t

(Colombo) REUTERS: The Sri Lankan rupee ended near record low yesterday due to continued outflows of foreign funds mainly from government bonds, as political uncertainty dented investor sentiment.

The Central Bank plans to complete six forensic audits on the Employees’ Provident Fund’s (EPF) investments in equities and treasury bonds and the operations of a few selected entities regulated and supervised by it, as recommended by the

Sri Lanka may consider extending the ongoing three-year International Monetary Fund (IMF) loan programme by another year amid sovereign rating downgrades and pressure on foreign reserves. 

(Colombo) REUTERS: The Sri Lankan rupee closed slightly firmer yesterday, but trade was thin as many foreign currency traders were on holiday for the New Year. Continued outflows of foreign funds mainly from government bonds due to political uncertai

Finance and Mass Media and Treasury Secretary Dr. R.H.S. Samaratunga yesterday said the year 2019 will be challenging year for Sri Lanka as the country has to carefully manage its debt position and give priority to maintain fiscal discipline.