ITC’s Sri Lankan arm acquires land for hospitality project

Diversified business conglomerate ITC Ltd said its wholly-owned arm in Sri Lanka has acquired land for a mixed-use hospitality project in the island nation. The...

Sri Lanka rupee hits new record low of 161.00 vs USD

Sri Lanka’s stock and money markets got off to a slow start Monday with rupee dropping to a new low of 161.00 against the...

Risk-based capital adequacy requirement by CSE

The Colombo Stock Exchange (CSE) is in the process of implementing a Risk-based Capital Adequacy Requirement to all Stockbroker Firms who are Members/Trading Members...

Rift between India and CEB threatens project

A serious rift has reportedly cropped up between the National Thermal Power Corporation (NTPC) in India and the Ceylon Electricity Board (CEB) over setting up...

SilkAir Launches Flights to Colombo, Sri Lanka

SilkAir has launched thrice-weekly flights to Colombo, Sri Lanka. The flights to Colombo are scheduled on Wednesdays, Thursdays and Saturdays. The flights will be operated with...

Dialog delivers net profit of Rs 1.59bn in first quarter

Dialog Axiata PLC announced, Thursday 9th May 2013, its consolidated financial results for the three months ended 31st March 2013. Financial results included those...

Sri Lanka expects 2.2 million visitors for 2016

Sri Lanka said it expects 2.2 million visitors in 2016, which would be a 26% growth compared with 2015. Sri Lanka’s Tourism Authority said that...

Dialog starts mobile payment service

Dialog Axiata had launched a mobile payment service through which its 7.5 million customers can send and receive money through a 'virtual wallet', officials...

Axiata eyes Airtel’s Lanka business

Axiata, the Malaysia-based telecom operator has approached Bharti Airtel to acquire the Indian operator's business in Sri Lanka, according to people privy to the...

Indian Bank ramping up overseas branches in Sri Lanka

Public sector Indian Bank has undertaken initiatives to increase business at its overseas branches in Sri Lanka and Singapore, a top official has said. "Our operations (in...

Finance Minister holds discussion with ADB to expedite projects in Sri Lanka

The Minister of Finance and Media Mangala Samaraweera who is attending the 51st Annual meeting of the ADB in Manila had discussions  with Mr. In-Chang Song an...

Galaxy S3 takes No. 1 position in smartphone market

Samsung Electronics' Galaxy S3 became the world's best-selling smartphone model last quarter, pushing aside Apple Inc's iPhone, which has dominated the chart for more...

Chinese to seek investment opportunities

A high level business delegation is to visit Sri Lanka this month to seek investment opportunities in the country, Sri Lanka’s main trade body...

Supported by the European Union, IFC and SLID help small businesses improve business practices

IFC, a member of the World Bank Group, has partnered with the Sri Lanka Institute of Directors (SLID) to promote improved corporate and ethical...

Bangladesh to sign FTA with Sri Lanka soon

Bangladesh will ‘soon’ sign a free trade agreement (FTA) with Sri Lanka to reduce trade barriers, Bangladesh Commerce Minister Tofail Ahmed has said. All formalities...

Mobile boom expected in SAARC region

SAARC population is expected to raise from 1.7 billion in 2014 to 1.9 billion in 2018, with mobile penetration reaching to 208% of population...

IMF gives thumbs up to Sri Lanka

The International Monetary Fund (IMF) have welcomed Sri Lanka’s recent favorable economic performance, including robust growth, low inflation, and a narrowing of the current...

Guangxi to host exhibition in Sri Lanka to promote trade

An exhibition is to be staged in Sri Lanka to promote trade between Guangxi, China and Sri Lanka. The exhibition aims to build a platform...

Switzerland, Bahrain and Croatia wants to enhance commercial ties with Sri Lanka

Envoys of Switzerland, Bahrain and Croatia held discussions with the Ceylon Chamber of Commerce recently to find out ways and means of exploring trade,...

Hilton signs landmark deal

Hilton (HLT) signed six management agreements with Melwa Hotels and Resorts Private Limited to manage three Hilton Hotels and Resorts and three DoubleTree by Hilton properties...