The Board of Investment (BOI) yesterday announced that it has signed US $60.86 million worth investment agreements with local and foreign investors in apparel, logistics, plant tissue culture and packaging sectors.  

(Colombo) REUTERS: The Sri Lankan rupee fell to an all-time low of 179.00 per dollar yesterday, a day after Moody’s downgraded the country’s credit rating, as a political crisis worsens a rout in the currency.  

(Colombo) REUTERS: The Internationa l Monetary Fund (IMF) said on Tuesday it had delayed discussions on Sri Lanka’s next loan tranche due to the country’s political crisis.  

The Central Bank yesterday hit back at Moody’s Investors Service over the recent credit rating downgrade, stating that the rating agency’s decision is unwarranted and unjustifiable as it is purely based on heightened political uncertainty

Delivering the first major blow to crisis-ridden Sri Lanka’s economy, Moody’s Investors Service yesterday downgraded the Government of Sri Lanka’s foreign currency issuer and senior unsecured rating

(Beijing) REUTERS: China believes the Maldives will make the ‘correct choice’ to continue with a bilateral free trade deal, a foreign ministry spokesman said yesterday, after a Maldives politician said the tiny nation would pull out of th

Sri Lanka expects a bumper harvest of 3.33 million metric tonnes of paddy output in the key Maha season (2018/19), a 40.2 percent year-on-year (YoY) increase, as weather conditions continu

Sri Lanka’s lubricant market leader, Chevron Lubricants Lanka PLC was seen gaining market share lost to its competitors during the second quarter of 2018 (2Q18), the quarterly lubricant mar

Sri Lanka’s manufacturing and services activities expanded during the month of October, according to SL Purchasing Managers’ Index (PMI) compiled by the Statistics Department of the Central Bank. The manufacturing sector PMI value in Octo

(Colombo) REUTERS: Sri Lanka’s newly appointed Prime Minister Mahinda Rajapaksa, who lost two motions of no confidence last week, may lose his government’s budget even as he clings to power.

The credit granted to the private sector by the banks has surged while the credit to the government and public corporations followed suit, as the Central Bank printed money to keep the interest rates low in September.  The banks in September gav

Sri Lanka’s largest shipbuilder, Colombo Dockyard PLC (DOCK), a unit of Japan’s Onomichi Dockyard, returned to profit during the September quarter (3Q18), after two quarters of losses, larg

(Colombo) REUTERS: The Sri Lankan rupee fell to an all-time low of 177.35 per dollar yesterday, as political uncertainty outweighed the positive impact of a policy rate hike, sources said. Stocks closed weaker for the second straight session due to p

(Milan/London) REUTERS: The London Stock Exchange will move its European government bond trading from London to Italy before Britain’s exit from the European Union next March, it said yesterday.

Former Monetary Board member Neil Umagiliya assumed duties yesterday as the 25th Chairman of state-run Bank of Ceylon (BOC). Umagiliya is a Fellow Member of the Institute of Chartered Management Accountants, United Kingdom and a Member of the British

Sri Lanka’s tourism industry stakeholders yesterday expressed concerns over the possibility of prospective tourists who would have visited Sri Lanka turning to other alternative destinations due to  the prolonged political crisis, as touri

(San Francisco) AFP: Ride-share company Uber said that its net loss topped a billion dollars in the recently ended quarter as it pumped money into bikes, scooters, freight and food delivery.

Sri Lanka’s largest brewer, Lion Brewery PLC has called for a level-playing field, as according to the firm, a number of players in the country’s spirits industry resort to tax evasion and the regulators have turned a blind eye to such un

(Male) REUTERS: The new president of the Maldives took office on Saturday, declaring the State coffers to have been looted and warned that the country was in financial difficulty after racking up debt with Chinese lenders in an infrastructure boom. T

The development of the Rs.8 billion ‘Access Tower 3’ is facing delays due to the current political crisis, as the Urban Development Authority (UDA) is yet to award the lease agreement to Access Realties (Pvt) Ltd. despite the approval of

Sri Lanka’s ongoing loan programme with the International Monetary Fund (IMF) has met with delays due to the current political crisis prevailing in the country, Central Bank Governor Dr. Indrajit Coomaraswamy said.

Softlogic Supermarkets Pvt Ltd CEO Andrew Dalby (left) handing over the first purchase made at the newly launched Softlogic GLOMARK in Delkanda to Softlogic Holdings PLC Chairman/MD Ashok Pathirage   

Asian markets swung throughout yesterday as investors weighed China-US trade speculation, while the pound struggled to stage a strong recovery from the previous day’s Brexit-fuelled bruising. As a volatile week drew to a close, so

Reuters - “The United States is the most open major economy in the world,” Ambassador William Hagerty told reporters at the Japan National Press Club.  “Japan and other countries have benefited greatly from that openness. So I

The Sri Lanka rupee closed steady at around Rs.176.50/65 against the US dollar yesterday, while stocks ended 0.20 percent lower after another day of chaotic scenes in the country’s legislature as the nation plunges deeper into crisis.  Loy

BRUSSELS (AFP) - Some EU member states have concerns about the draft Brexit deal, particularly about access to fishing in British waters, but there is little appetite in Brussels to reopen negotiatio

REUTERS - BlackBerry Ltd said yesterday it will acquire Cylance, an artificial intelligence and cyber security company, for US$1.4 billion in cash to help expand its QNX unit that makes software for next-generation autonomous cars.  Besides the

SYDNEY (AFP) - Australia announced yesterday it was taking legal action against India at the WTO over sugar subsidies it said caused a “significant downturn” in world prices and hurt domestic producers.

PORT MORESBY (AFP) - Papua New Guinea yesterday signed a deal with energy giants Total and ExxonMobil on a proposed new project that would significantly boost the natural gas exports from the poor Pacific Island nation. The parties hope to fi

FRANKFURT AM MAIN (AFP) - European Central Bank President Mario Draghi said yesterday he saw “no reason” why growth in the eurozone should wither, minimising a sharp slowdown in the third quarter. “There is certainly no reason why t