Business Asian markets edge higher at end of painful week
HONG KONG (AFP) - Asian investors battled to finish a volatile week with some stability yesterday as they weigh the outlook for China-US trade talks and…
Business News
Business 
Business 8 companies struggle to reach 1 Jan capital deadline of Rs 1.5B
At least eight Licensed Finance Companies (LFCs) have to fulfil their Rs 1.5 billion minimum capital requirements by 1 January, a deadline imposed by the…
Business Urban sector computer literacy rate tops 40%
Overall computer literacy at 28.6% in 2017 One out of every five households owns either a desktop or a laptop computer Digital literacy at 40.1% reflecting…
Business BOI signs agreement for Braybrooke apartment complex
BOI signed an agreement with Braybrooke Residential Towers (Pvt) Ltd to set up an apartment complex in Colombo 2. The total investment of this project is US$…
Business Great opportunities for retail sector in 2019
Sri Lanka will have a very bright 2019 though the end of 2018 has been unsteady, said Ranjit Page, Deputy Chairman and Chief Executive Officer at Cargills…
Business Hela Clothing secures Rs.1.2bn capital infusion
Sri Lankan apparel manufacturer Hela Clothing Group yesterday announced that it had secured a capital infusion of Rs.1.2 billion, by way of a mix of…
Business Lanka can meet its foreign debt obligations - Prof. Samarakoon
Responding to the recent concerns raised by Moody’s Investor Service on Sri Lanka’s future debt repayment, National Economic Council of Sri Lanka (NEC)…
Business Tax dodger carries on regardless
A company running a factory has defaulted on tax payments amounting to some Rs.190 million, but the authorities concerned had failed to act either to recover…
Business Tax dodger carries on regardless
A company running a factory has defaulted on tax payments amounting to some Rs.190 million, but the authorities concerned had failed to act either to recover…
Business ‘Moody’s latest rating decision unfounded’
he Central Bank of Sri Lanka (CBSL) is of the view that the decision by Moody’s Investors Service (Moody's) on November 20, 2018 to downgrade the government of…
Business Sri Lanka's private sector moving ahead despite power stand-off
Dave Group unveils innovative John Deere farming technology in Sri Lanka, at an event held at Colombo Hilton yesterday. (L-R) Vinayak Vasagade Sales Manager ,…
Business 'Positive outcomes from adjustments on gold and motor vehicle import tariffs'
The adjustments on gold and motor vehicle import tariffs coupled with good rainfall in catchment areas, which has positive implications for local hydro power…
Business Sampath Bank surpasses Rs.14 billion mark in Pre-Tax Profit
Sampath Bank achieved Rs.14.2 billion in Profit Before Tax (PBT) within the first 3 quarters of 2018, 20.3% higher than the PBT of Rs.11.8 billion recorded in…
Business SC order: Resounding victory for people’s franchise
UNP Leader Ranil Wickremesinghe today said the interim order issued by Supreme Courts suspending the dissolution of Parliament was a resounding victory for the…
Business Singer first half revenue increases by 14% to Rs. 28.6 billion
Singer (Sri Lanka) PLC announced its results for the first half ended September 30, 2018. Despite tough business conditions, the results for the six months…
Business ohn Keells Group revenue up 10%, profit to equity holders up 37%
John Keells Group revenue at Rs.32.57 billion for the period under review is an increase of 10 per cent over the Rs.29.62 billion recorded in the previous…
Business CWC holds special discussion with Finance Ministry
A special discussion was held between the Secretary to the Ministry of Finance and the Ceylon Workers’ Congress (CWC) today (05) regarding the increment of…
Business Jetwing Symphony delivers strong financial results for Q2 2018/19
Jetwing Symphony PLC (JETS), the investment arm of Jetwing, last week announced strong financial results for Q2 FY 2018/19. The company recorded a revenue of…
Business Mangala exposes economy’s great peril post MS-MR deal
Net outflow of Rs. 4 b from CSE last week dwarfs Jan.-Sept. figure Says outflows putting major pressure on rupee in an already fragile global economy Selling…
Business HNBA Celebrates World Children’s Day
Commemorating this World Children’s Day, HNB Assurance PLC (HNBA) held a number of programs island-wide to communicate the importance of providing a solid form…
Business Pan Asia Bank surpasses 1 bn rupee after tax profit milestone for nine months
Pan Asia Banking Corporation PLC, one of the fastest growing Sri Lankan commercial banks, reported its best ever profit recorded for a nine month stretch…
Business Seylan Bank records PAT of Rs. 3.1 billion in 3Q 2018
The Bank closed the 9 months ending September 30 2018 with a post-tax profit of Rs. 3,138 million, a moderate growth of 4.5 % over the corresponding period…
Business Country’s economy on the brink of collapse: MP
The country’s economy was on the brink of collapse with the US Dollar exchange rate reaching Rs.180, Mahajana Eksath Peramuna (MEP) Leader Dinesh Gunawardena…
Business Hyatt and Hilton Hotels have attracted 88 enquiries so far from international investors'
The government has already received 88 enquiries for the Hyatt and Hilton Hotels from leading investors from all over the world following the publicity given…