Drought-related costs add to Sri Lanka’s challenges

Sri Lanka’s ambitious 2017 fiscal deficit target will be even more challenging to achieve as a result of the drough related costs, the Moody's ratings...

Norwegian pension fund doubles investment in Lanka

Norwegian Government Pension Fund has more than doubled its investment in Sri Lanka by end of 2016, the Norwegian Embassy in Colombo said today. The...

Srilankan Airlines takes delivery of its first A320neo

Srilankan Airlines has taken delivery of its first A320neo on lease from Air Lease Corporation (NYSE: AL), making the airline the latest operator of...

Carlsberg FY16 results hit by Sri Lanka floods

Carlsberg Brewery Malaysia Bhd’s net profit for the fourth quarter ended Dec 31, 2016 fell 36.81% to RM47.07 million from RM74.48 million a year...

Sri Lanka seeks support to improve export market

The Government today said that it needs to improve Sri Lanka's exports by tapping new markets. Minister of International Trade Malik Samarawickrama told Parliament that Sri...

South Asian Stock Exchanges to meet in Colombo

The Colombo Stock Exchange (CSE) will host the Executive Committee Board Meeting for the current term of the South Asian Federation of Exchanges (SAFE)...

Sri Lanka to strengthen cooperation with EU bank

Sri Lanka is to strengthen cooperation with the  European Investment Bank, the bank said in a statement today. The European Investment Bank is to provide EUR...

Hayleys to build mega Twin Towers

The Hayleys group, Sri Lanka’s most diversified conglomerate and pioneer in value added exports, yesterday announced its latest venture, the ‘World Export Centre’, a...

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...

Mövenpick hotel GM confident of tourism market

With Sri Lanka’s post war tourism boom set to reach higher ground over the next few years, more and more hotels are coming up...

Relaxed laws for foreign property owners

Breaking news this month is sending a wave across Sri Lanka and the world – the 2017 budget has been announced, and leading property...

Investors urged to seize opportunity

The Government has called upon the local and foreign entrepreneurs to seize the best opportunity given by the government and invest in Sri Lanka. Minister...

Sri Lanka–Turkey trade talks resume in Ankara

As bilateral trade surged by more than 130%, trade talks between Turkey and Sri Lanka re-opened on 11 November in Ankara-after 26 years. Turkey...

Sri Lanka to begin work on an Export-Import Bank

Sri Lanka is to begin work on setting up an Export-Import Bank (Exim) bank, Finance Minister Ravi Karunanayake said today. The Minister told Parliament there...

Sri Lanka to have themed tourism development zones

Sri Lanka today announced plans to attract tourists back to the ‘Pearl of the Indian Ocean’ with the launch of themed tourism development zones,...

Moody’s says VAT hike will keep IMF program on track

The Moody's rating agency says the amendments to the value added tax (VAT) bill, which will increase the VAT tax rate to 15% from...

MAS Holdings to open a plant in Haiti soon

MAS Holdings, a leading Sri Lankan conglomerate and is positioned as one of the world’s most recognized Design–to-Delivery Solution Providers in the realm of...

Lanka’s outlook drops to negative from stable

Moody's Investors Service has today affirmed the Government of Sri Lanka's foreign currency issuer and senior unsecured sovereign ratings at B1 and changed the outlook...

SLGTI to be opened in Kilinochchi

The establishment of the Sri Lanka-German Training Institute (SLGTI), a landmark project initiated by German Development Cooperation (GIZ) in partnership with the Government of...

US to decide on Lankan tires in October

Off-the-road tires imported from India and Sri Lanka are being subsidized, the U.S. Department of Commerce said in a preliminary countervailing duty determination issued...