Business Sri Lanka rupee under pressure, hits record low last week
The Sri Lankan rupee hit a record low last week as panicky importers bought U.S. dollars following the defeat of the ruling coalition parties in a local…
Business News
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Business Sri Lanka, UAE sign MoU on cooperation in labour sector facilitating recruitment of domestic workers
The United Arab Emirates (UAE) and Sri Lanka have signed a Memorandum of Understanding (MoU) to foster cooperation in the labour and manpower fields…
Business Dhammika Perera picks up last of world’s 50 Bentley Mulsanne Hallmarks
Dhammika Perera, as the richest business leader in Sri Lanka, has taken delivery of his prized - and perhaps the first in the South and Southeast Asia or the…
Business COMBANK sets new digital banking record with Rs. 663 b in transactions
A whopping Rs. 662.95 billion was transacted through digital banking channels alone, by customers of the Commercial Bank of Ceylon in 2017. This is the highest…
Business ‘Inflation at moderate level, foreign reserve to be above US$ 7 bn’
First Capital Research (FCR) believes inflation rate to moderate, foreign reserve position to be maintained above US$ 7 billion levels. FCR also expects the…
Business Malik’s mantra to mint $ 2.5 b FDI
Targets $ 2.5 b FDI for 2018 but projects about 80% increase over 2017’s $ 1.63 b Negotiations over H’tota investment zone to be completed in three months Ten…
Business Mentos to be manufactured in Sri Lanka
Perfetti Van Melle (PVM) Sri Lanka, a confectionery company, recently announced via press release that they will be manufacturing the brand 'Mentos' for the…
Business Emergency moves to restore confidence in Ceylon Tea
Sri Lankan authorities are battling on two fronts to restore confidence in Ceylon Tea, sending delegations to Japan and Russia where the country’s main…
Business EPF, NSB, SLIC losses due to bond scams exceed Rs. 31 billion
The manipulation of the secondary bond market by Perpetual Treasuries caused three state institutions, Employees’ provident Fund (EPF,) Sri Lanka Insurance…
Business EPF gets zero returns from majority of private equity investments
EPF has invested Rs.10.8bn in 7 private equity investments up to 2014 Of that, Rs.9.3bn has not generated any returns to this date Only 2 investments in…
Business World’s top investment bank Lazard explores SL, works with MTI
Recognised as one of the world’s preeminent financial advisory and asset management firms, 170-year-old Lazard has shown interest in Sri Lanka, with a visit…
Business Global giant Allianz to buy Janashakthi General Insurance for Rs. 16.4 b in mega deal
Global financial services leader Allianz yesterday announced that it has entered into an agreement with Janashakthi Insurance PLC (JINS) to acquire 100% of its…
Business Singer revenue tops Rs. 51.5 billion despite tough business conditions
Singer (Sri Lanka) PLC announced its Group results for the year ended December 31, 2017. The results showed an increase in Group revenue of 9.8 % compared to…
Business National Economic Council to draw input from multiple stakeholders to ensure sound policies
Think tanks to offer advice on economic, social, environmental and civil society impact of new policies and programs NEC to seek industrial and business…
Business IPS Highlights the Importance of Developing Skills in Sri Lankan Graduates
While Sri Lanka has been performing well at the primary education level, significant policy gaps exist when it comes to secondary and tertiary education, IPS…
Business Sri Lanka records highest-ever apparel exports
Sri Lanka recorded its highest-ever level of apparel exports during the year ended 31 December 2017, courtesy of the restoration of the Generalized System of…
Business Sri Lanka banking on 'wily old fox' Herath, says Chandimal
Chittagong (Bangladesh) (AFP) - Sri Lanka will bank on the guile of record-breaking left-arm spinner Rangana Herath as they try to extend their recent winning…
Business 560,000+ pensioners to be covered by NITF with Rs 500 M in State funds
The National Insurance Trust Fund (NITF) will add over 560,000 retired and retiring state employees to its 'Agrahara' insurance policy scheme by the end of…
Business Lanka Bell connects 50,000+ homes, businesses
Lanka Bell, Sri Lanka’s iconic telecom operator has achieved a significant milestone of reaching 50,000+ households and businesses with its fourth-generation…
Business Sunshine Holdings invests Rs.9mn to partner with investment firm
Jan 25, 2018 (LBO) – Sunshine Holdings has invested 9 million rupees to partner with Strategic Business Innovator (Pvt) Ltd, an investment firm to be set up in…
Business Tea stirs calm cup.
Sri Lanka’s tea industry is eyeing a smooth ride in 2018 after earning $1.53 billion last year, but is trying to put the lull in its troubles to good use by…
Business Softlogic to raise Rs. 7 b including foreign equity investments up to $ 35 m
Softlogic Holdings PLC has come to an agreement with Samena Ceylon Holdings Ltd. to raise private equity in order to restructure the diversified blue chip’s…
Business PM asks Bohras to help hold investment conference in Mumbai
Colombo, Jan. 23 - Sri Lankan Prime Minister, Ranil Wickremesinghe has asked His Holiness, Syedna Aaliqadr Mufaddal Saifuddin, the 53rd Dai-Al-Mutlaq and…
Business Debt level tops Rs. 9,387 billion: New law to manage borrowings
With the Government debt level in excess of Rs. 9,387 billion, a new Active Liability Management Law is to be enacted to make provision to raise loans, in and…