Business Incentives for all segments
The Government yesterday rolled out sweeping incentives for all social segments of the country presenting an all-inclusive Budget for the year 2019. The Budget…
Business News
Business 
Business SL reaches staff level agreement with IMF to extend loan deal
Govt. requests to extend programme for an additional year with remaining disbursements being evenly spread Govt. commits to primary surplus to 1.5% GDP in 2019…
Business SL must implement economic reforms immediately
Sri Lanka needs to implement much needed economic reforms at least for the next five years, particularly to address the issue concerning the debt burden, Dr.…
Business SL told to negotiate more realistic budget deficit target with IMF
From left: Standard Chartered ASEAN and South Asia FX Research Head Divya Devesh, South Asia Economist Sourav Anand and Global Chief Economist David Mann Pic…
Business Softlogic 3Q hit by weak retail sales, currency depreciation and import restrictions
Softlogic Holdings PLC recorded a net loss of Rs. 346.6 million for the quarter ended December 31, 2019 (3Q19) from a profit of Rs.77 million in the year…
Business KKS port area to be made vibrant economic hub: PM
Prime Minister Wickremesinghe and Ports Development Minister Sagala Ratnayaka taking a look at the development plan Pic by Pradeep Pathirena …
Business Customs TU action cripples Colombo business
Food importers and wholesalers shut their shops in the capital city yesterday, demanding the government to resolve trade union action by Customs officials.…
Business China and Singapore to invest US $ 1.1bn in cement and steel plants
Development Strategies and International Trade Minister Malik Samarawickrama chairs 17th Exporters’ Forum along with Ministry Secretary S.T. Kodikara (extreme…
Business No more excuses! ecommerce is a do or die for Lankan businesses” - Dulith Herath
Sri Lanka’s e-com pioneer Dulith Herath says in exclusive interview discussing how his network of online retail facilitators, from ‘Kapruka’ to the latest…
Business CB cuts foreign holding in G-Secs to limit hot money stock
Reduces threshold of foreign investment in T-bills and bonds from 10% to 5% Currently, foreign holding stands below 5.0 % of total stock of issued G-secs…
Business Permit renewed overlooking tax dues in arrears!
A renewed annual production permit is said to have been issued to a distillery owned by a big entrepreneur with close ties to a powerful politico, despite…
Business Rupee falls on importer dollar demand; stocks post 8-week closing low
(Colombo) REUTERS: Sri Lanka’s rupee closed weaker yesterday due to dollar demand from importers, while stocks fell to an eight-week closing low amid concerns…
Business SriLankan says A330-200 idling at BIA lacks suitable cabin configuration for their use
Says aircraft was acquired by previous mgt. in 2017 linked to the settlement against the cancellation of the 4 new Airbus A350-900 aircraft order Current mgt.…
Business Govt repays loan of USD one billion: Harsha
Economic Reforms and Public Distribution Minister Harsha de Silva said today the government had settled the one billion US dollars borrowed by the previous…
Business China looking to set up FTZ in Sri Lanka for rubber exports
Plantation Industries Minister Navin Dissanayake in discussion with the Chinese delegation High-powered Chinese delegation in Colombo Navin to visit…
Business Second biggest hotel is family member’s investment
The construction work on the second biggest hotel in the Southern province is proceeding apace, they say. This 200-room- hotel coming up on a nine-acre…
Business Cigarette smuggling costs Sri Lanka Rs.18bn in tax revenue in 2017
The government may have lost Rs.18 billion in cigarette tax revenue as a record 583 million illicit cigarettes were estimated to have smuggled into Sri Lanka…
Business Financial sector regulators sign MoU for consolidated risk-based supervision
Central Bank Governor Dr. Indrajit Coomaraswamy and representatives of the three regulators, viz, Central Bank Deputy Governor H.A. Karunaratne, SEC Director…
Business Govt. mulls extending IMF loan programme by another year
From left: Senior Deputy Governor Dr. Nandalal Weerasinghe and Governor Dr. Indrajit Coomaraswamy Pic by Damith Wickramasinghe Sri Lanka may consider…
Business Japan to resume commercial whaling after pulling out of IWC
(Tokyo) REUTERS: Japan will resume commercial whaling from July in its waters and exclusive economic zone while ending its controversial hunts in the…
Business Trade deficit soars on higher vehicle, fuel imports
October trade deficit up to US $ 903mn from US $ 752mn YoY Cumulative trade deficit in 10 months at US $. 8.8bn from US $ 7.6bn Oct. imports up 9%; exports up…
Business Asia shares round out rough week with fresh losses
Markets sank across the world even as the Fed predicted two interest rate increases next year down from three with the bank trimming its forecast for US growth…
Business Corporate Sri Lanka braces for new budget proposals
Businesspeople won't throw up their arms in despair and tell you that they are nervous about what the budget for the year 2019 would bring, but they are…
Business Hutch announces plans to invest US $ 200mn following merger with Etisalat
Merging 2G and 3G operations soon and launch of nationwide 4G in 12 months Merger will end up Hutch having around 2,500 towers across the island No VRS; all…