Business Malik woos top Japanese investors at Tokyo Investor Forum
Japanese businesses must take advantage of Sri Lanka’s strategic location, preferential market access into key economies, and be an early mover in the…
Business News
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Business ‘SL has high use of internet, smartphones but very low on e-commerce’
Sri Lanka’s internet and smartphone use has grown to a considerably high level in recent years but e-commerce users among them are still low-with…
Business Seychelles seeks Sri Lanka’s technical support to improve fisheries industry
High Commissioner of Seychelles in Sri Lanka, Conrad Mederic, has requested State Minister of Fisheries and Aquatic Resources Development, Dilip Wedaarachchi,…
Business Devils’ Force sets Hill Capital alight
The silent tears fall on smouldering embers but it cannot douse the flames of hatred which engulfed the hill station town of Digana that witnessed a bloody…
Business Sri Lanka forex reserves rise to US$7.9bn in Feb 2018
Sri Lanka's forex reserves rose 244.35 million US dollars to 7,914 million US dollars in February 2018 from a month earlier, amid slower credit, though monthly…
Business Govt. should hold reform course: IMF
Projects SL to grow by 4.4%, inflation to hit 5% by 2018-end, food prices to stabilise Warns economy vulnerable to shocks, reform momentum essential Advocates…
Business SAP Ariba makes procurement a snap for mid-market
When it comes to taming the complexity of procurement, size doesn’t matter. Mid-market companies face the same challenges in managing their spend and suppliers…
Business Central Bank denies interest rate hike
Rejects media reports, says reserves, inflation and broad money on target No reason to raise interest rates in the near term, advises public not to be misled…
Business Govt. to disburse Rs.4 b to north as debt relief program
Finance Minister to inaugurate several initiatives in North this Sunday Allocates funds to empower producer cooperatives in North, extending support to…
Business SLT Group ups operating profit by 5.4%, increasing depreciation-hit bottom line
Sri Lanka Telecom (PLC) Group said this week its Operating Profit Before Depreciation and Amortisation (EBITDA) improved by 5.4% to Rs. 21.2 b as a result of…
Business USAID YouLead and Microsoft Launch YouthWorks to Increase Employment and Entrepreneurship Among Sri Lanka’s Youth
The United States Agency for International Development (USAID) YouLead program and Microsoft Sri Lanka signed a partnership to launch the new YouthWorks…
Business Sri Lanka mulls globalising of SMEs via highly-active food sector
Ma’s Tropical Food Processing Manager Sarah De Alwis receives the top award for ‘All Food and Beverages’ from Minister of Industry and Commerce Rishad…
Business Union Bank posts Rs 782 mn operational profits
Despite the volatile macro environment Union Bank has performed exceptionally well in 2017 resulting in a 35.6% increase in profits from operating activities…
Business NTB records 31% growth in pre-tax profits
Nations Trust Bank closed the financial year 31st December 2017 with a post-tax profit of Rs. 3,371Mn, up by 18% over the previous year with pre-tax profits…
Business Sri Lanka, emerging nations faces higher interest rates, tighter global credit: Mangala
Sri Lanka and emerging nations faces tighter credit conditions and higher interest rates, with policy rates in developed nations set to rise faster than…
Business Private sector borrowed less in 2017
Private sector credit expands by Rs. 617 b in 2017 but lower than Rs. 756 b in 2016 CB expects status quo to pick up with private sector borrowing to rise to…
Business Worker remittances down 1.1% in 2017
Worker remittances during 2017 declined 1.1 per cent to US$ 7.16 billion from US$ 7.24 billion recorded during the same period of 2016, as remittances in…
Business Ceylinco Life posts net profit of Rs. 6 bn
Sells 126,838 new life policies in the year reviewed Pays out Rs. 6.7 billion in net claims and benefits to policyholders Ceylinco Life has posted net profit…
Business Remove apparel quota to India - Exporters
Sri Lanka Apparel Exporters Association Chairman Felix Fernando requested the Indian government to either improve the existing apparel quota system to a…
Business Sri Lanka national inflation slows to 5.4-pct in January
Inflation in Sri Lanka, as measured by the National Consumer Price Index (NCPI) slowed to 5.4 per cent in January 2018 from 7.3 per cent in December 2017, on a…
Business SL bidder for EAP Group chastises CBSL Over negotiation process
A Sri Lankan bidder, for the failing EAP Group, has complained, to the Governor of the Central Bank Dr. Indrajit Coomaraswamy, that the bidding process to…
Business CBSL opposes govt. move to set up hybrid company
Controversial National Payment Platform revived: Many an eyebrow has been raised by a government move to set up a hybrid company as part of the controversial…
Business Seylan Group ups after tax profit by 24% to Rs. 5 b
In the backdrop of challenging external environment, Seylan Group has reported a resilient performance by recording a profit after tax of Rs. 5.004 billion for…
Business $ 60 m EAP Group sale to UK Lyca Group today?
The sale of EAP Group assets for $ 60 million is speculated to be concluded today, with foreign investors having arrived yesterday, Daily FT learns. The…