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...

Lanka eyes 10-20 year sovereign bond issue

Finance Minister Ravi Karunanayake told reporters today that the government is looking at a sovereign bond issue with a tenor of 10 to 20...

BIZMEET to promote ethical business practices

Junior Chamber International (JCI) Sri Lanka announced the inauguration of BIZMEET 2016, Sri Lanka’s first ever professional networking events aimed at promoting consistently ethical...

Fairway gets first Bell 505 for Sri Lanka

  Bell Helicopter leadership and representatives from Infotechs, a Bell Helicopter independent representative in Sri Lanka and the Maldives, joined Fairway Holdings to sign for...

Oil falls as traders cash in after gains

Oil prices fell over 1 percent on Monday as traders took profits after three weeks of gains and as a jump in the dollar...

Sri Lanka key market for Indian exports

Sri Lanka, Nepal and Bangladesh have emerged as the major destinations for India's engineering exports together accounting for a sizeable chunk of $5.17 billion,...

Zuckerberg unveils 10-year plan for FB

Facebook CEO Mark Zuckerberg laid out a 10-year plan to connect the world that sounded as much like a political cause as a grab...

Zambian Government woos Sri Lankan investors

Zambia has urged Sri Lankan business executives to take advantage of the investment opportunities in the Multi Facility Economic Zones (MFEZs) in the country,...

Shares end flat; LOLC helps erase early losses

Sri Lankan shares ended steady on Monday, with big gains in Lanka Orix Leasing Company Plc erasing early losses as concerns over macroeconomic stability...

HSBC ceases Primary Dealership with CB

Mar 31, 2016 (LBO) – Sri Lanka’s Central Bank said in a statement that the Hongkong and Shanghai Banking Corporation (HSBC) will cease to...

Hero acquires 60% stake in Lankan company

Hero Cycles India’s largest bicycle manufacturer has picked up 60 per cent stake in Sri Lanka’s BSH Ventures Pvt Ltd. which has a license...

Government looks to maintain policy consistency

Sri Lanka will strive to tighten its belt and maintain policy consistency to improve its debt rating and help make capital Colombo a global...

US, Sri Lanka expand economic partnership

Representatives from the Millennium Challenge Corporation (MCC), an independent U.S. development agency, are visiting Sri Lanka this week to begin a partnership to overcome...

S&P cuts Sri Lanka outlook to negative on funding pressures

Standard & Poor’s cut Sri Lanka’s outlook to negative from stable citing worsening external and fiscal indicators, less than two weeks after Fitch Ratings...