Business GIANT LEAP FOR AGRI-ECONOMY
The Moragahakanda- Kalu Ganga project will spur a massive development drive to rejuvenate the country’s agricultural hinterland, President Maithripala Sirisena…
Business News
Business 
Business Commercial Bank opens micro-finance company in Myanmar
Two years after opening its representative office in Yangon The Commercial Bank of Ceylon has opened a microfinance company as its second subsidiary in…
Business Sri Lanka to cut costs to trade with information portal
Sri Lanka launched a trade information website Friday bringing together up-to-date information on regulations and procedures relating to exports and imports…
Business Failure to renegotiate causes huge losses
ACE power dispute: The Ceylon Electricity Board Engineers Union (CEBEU) had asked its members to be wary of making payments, amounting to Rs. 840 million, to…
Business PM encourages entrepreneurs in North with tax concessions to uplift local economy
Prime Minister Ranil Wickremesinghe yesterday said the Government has offered tax relief for 300% of the income from capital investment to entrepreneurs who…
Business Sri Lanka's Keells Foods net grows 34-pct in June, revenues up
Sri Lanka's Keells Food Products said profits grew 34 percent from a year earlier to 56.3 million rupees in the June 2018 quarter on expanding sales of…
Business Govt. launches landmark five-year National Export Strategy
SL eyes $ 28 b export revenue by 2022 PM says NES catalyst to link to global value chains, increase exports and create jobs Officials to meet exporters every…
Business NDB secures loan up to $75 m with Commerzbank Germany
National Development Bank (NDB) has successfully negotiated a loan up to $75 million, from Commerzbank Aktikengsellschaft Germany recently. Dubai-based Alpen…
Business Virtusa’s Kris Canekeratne selected as EY Entrepreneur of The Year® 2018 award winner in New England regional finals
SOUTHBOROUGH, MA – Virtusa Corporation (NASDAQ GS:VRTU), a global provider of digital strategy, digital engineering, and IT outsourcing services that…
Business FUEL PRICING FORMULAE, A VITAL COG IN THE WHEEL - ECONOMISTS
Experts say keeping price of fuel below the global market determined level is an implicit subsidy that is reflected in CEYPETCO losses and has to be funded by…
Business Tourism earnings up 14.7% Jan-May Forex income hits US$ 1.8B
Sri Lanka earned nearly US$ 1.8 billion from tourism during the first five months of this year, up 14.7 per cent compared to US$ 1.65 billion a year ago,…
Business Businessman pleads guilty to smuggling ganja by post
MP, ex-Senior DIG defend him Colombo Fort Magistrate Lanka Jayaratne yesterday deferred a case filed against a leading businessman charged with smuggling 60…
Business ETI Finance to be purchased at US $ 75 million
Singapore-registered Blue Summit Capital Management Ltd and Sri Lanka’s Ben Holdings Ltd. have made a joint investment to purchase the crisis-hit finance…
Business “Vehicle and motorcycle owners would have the capacity of bearing taxes”
– Inland Revenue Dept.- Commissioner of the Inland Revenue Department Ivan Dissanayake has stated that vehicle and motorcycle owners would have the capacity of…
Business ‘Fiscal position under stress from doubled car and gold imports this year’
Gold and car imports have doubled this year compared to last year, creating tremendous pressure on the fiscal position and on the whole economy, Central Bank…
Business Earnings of listed corporates gain in March quarter
Values up 28.5% to Rs. 98 b and by 15.4% to Rs. 87.5 b excluding one-off profits for two corporates Food, Beverage and Tobacco, Bank and Capital Goods sector…
Business Mendis issues 2,487 cheques for Rs. 1.134 mn in eight months
A team of experts who probed the accounts of WM Mendis Company, owned by the Perpetual Treasuries Pvt. Ltd, has found that it has issued 2,487 cheques from one…
Business Yen 100 b loan for Central Highway stage III
Cabinet this week gave approval to seek a Japanese loan of 100 billion yen to construct the third section of the Central High Way from Pothuhera to Galagedara,…
Business ADB to invest in Lanka’s Healthcare Sector.
The Asian Development Bank (ADB) has agreed to invest $10 million of equity in DCDC Healthcare Services Private Limited (DCDCPL), a company providing dialysis…
Business Public Sector officials oppose audit bill – Auditor General
Auditor General Gamini Wijesinghe called on the Mahanayake’s of the Malwathu and Asgiri Chapters and commented on the proposed Audit bill which will be debated…
Business Srilankan revenue dropped after contact with phoenix
Details of anomalies in the contract SriLankan Airlines had entered into with Phoenix Rising Ventures (PRV) were exposed at the Presidential Commission of…
Business Sri Lanka’s hotel sector fast reaching saturation point: veteran hotelier
The number of star class hotels in operation in Sri Lanka currently and that are to be built in the future will push Sri Lanka's hotel sector to reach…
Business Vehicles not up to Euro four standard, banned from today
Importing vehicles which are not equipped with safety features such as air bags, seat belts and below the emission levels or their equivalent as prescribed by…
Business Claims made by Cabraal on GDP are distorted – Min. of Finance
The Ministry of Mass Media and Finance issuing a statement says that the claims made by the former governor of the Central Bank of Sri Lanka Ajith Nivaard…