Cap on penal interest rates

The Central Bank today announced that a cap will be placed on penal interest rates charged by banks, finance companies and leasing companies. The Central...

Moody’s hails Lanka’s policy

Moody's Investors Service says that the policies of the government have stabilized Sri Lanka's (B1 stable) overall credit profile, although benefits from the post-civil...

ADB expects strong growth in Lanka

The Asian Development Bank (ADB) says  Sri Lanka will continue to grow strongly this year while other parts of the region will see softer than...

SriLankan signs Airbus deal

During the Paris Air Show held today (Wednesday), SriLankan Airlines announced it had signed a memorandum of understanding in preparation for an order for...

IOC, Ceylon Petroleum set to form JV

Indian Oil Corporation (IOC) and Ceylon Petroleum Corporation (CPC) are set to form a joint venture (JV) for taking up various initiatives in the...

Abans to build largest mall in Lanka

A Sri Lankan company is planning to build the largest mall in the post-war country, in an effort to cash in on a booming...

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...

Need to remove bilateral trade barriers, Sri Lanka tells India

India-Sri Lankan bilateral trade has potential to more than double to $ 10 billion by 2016 if tariff and non tariff barriers are removed,...

IOC draws big plans for Sri Lanka

Despite Sri Lanka announcing that it would partially take back unused World War II time strategic oil storage depot in Trincomalee from Indian Oil...

Dialog gets nod to issue $388 mln Islamic bonds

Dialog Axiata, the Sri Lankan unit of Asian mobile services group Axiata Group Bhd, has won approval to sell up to 1.2 billion Malaysian...

Dialog Axiata wins 4G spectrum for $25 mln

Sri Lanka's top mobile phone operator Dialog Axiata will roll out the country's first mobile 4G LTE network, sealing the deal with a 3.2...

Malaysia Airlines increases Colombo-Kuala Lumpur service

Malaysia Airlines, the national carrier of Malaysia, providing daily direct connections between Colombo and the Malaysian capital of Kuala Lumpur, is introducing 3 daytime...

Fly to Mattala from BIA for just Rs 2,999

SriLankan Airlines, the national carrier of Sri Lanka, is introducing new offers to Mattala, providing a great opportunity to all Sri Lankans to enjoy...

Samsung introduces Galaxy S 4

Samsung Electronics is the world leader in smartphone sales, besting Apple in many countries. Now Samsung of South Korea is stepping up its challenge...

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...

Australia’s third-richest person to invest in Sri Lanka

Australia's third-richest person and gambling tycoon James Packer may be lining up a bet on Sri Lanka, scouting the Indian Ocean island for potential investments...

Loss-making Sri Lankan Airlines aims to break even in 2015/16

Loss-making Sri Lankan Airlines hopes a five-year plan to fly to more profitable destinations and invest in a more fuel-efficient fleet will help it...

IMF rejects conditions, government suspends deal

The government has decided not to pursue a new funding program with the International Monetary Fund (IMF) after the IMF had refused to accept...

WSO2 attracts $10 Million in funding

WSO2, the lean enterprise middleware company, today announced that it has closed a $10 million funding round led by Toba Capital,and joined by Cisco...

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...