Foreign loans are vital for infrastructure development as the Northern and Eastern Provinces lack proper infrastructure having recovered from the conflict. Therefore the Government, with the assistance of foreign loans, is....

Exporters Association of Sri Lanka (EASL) urged the government to keep the rupee at a favourable rate for exporters and requested the Central Bank to adopt a favourable exchange rate policy. "The rupee’s appreciation has...

Deputy Finance Minister Dr. Sarath Amunugama said the government is trying to keep the exchange rate stable so that all sectors in the economy would benefit. The minister was trying to assure exporters at the a time the...

John Keells Holdings PLC recorded a profit before tax (PBT) of Rs 1.53 billion for the first quarter ended June 30, 2010. This reflects an increase of 60 percent compared to the Rs 959 million in the corresponding period in...

The country’s export sector recorded significant growth due to the favourable global economic environment. The first four months recorded a 10 percent growth of US $ 2.7 billion. However the apparel sector recorded a...

Nolimit was ranked in the top 20 corporate entities recognized as the "Best of the Best" in customer service by a recent exclusive survey conducted by TNS Lanka Ltd for Living-life style magazine. Nolimit is the only fashion retail brand to have been honored in this survey....

Jetair, one of the leading tour operators in Belgium, has introduced  Sri Lanka as a new winter destination, and will operate weekly charter flights from Brussels to Colombo commencing October 2010.....

The American Chamber (AMCHAM) in Association with Sri Lanka Association of Software and Service Companies (SLASSCOM), on 9 August at 9 a.m. will conduct a CEO forum on 'Innovation and Sustainability' at the Hilton....

Vidullanka PLC has posted a group net profit of Rs. 56.9 million in first quarter of the FY 2010-11, which is 24.6% increase compared to the first quarter of the last financial year, company said in a stock market filing. The revenue...

Jetair, one of the leading tour operators in Belgium, has introduced Sri Lanka as a new winter destination, and will operate weekly charter flights from Brussels to Colombo commencing October 2010. The formal announcement....

While Colombo traders are supporting the Government’s decision to import chicken, poultry farmers strongly oppose the decision and said that imports will ruin the industry. At present the industry is in a crisis due to...

During the week the All Share Price Index (ASPI) gained 218.62 points to close at an all time high of 4895.51 points and the Milanka Price Index (MPI) also reached an all time high of 5545.13 by gaining 228.91 points while...

Beira Enviro Solution opened a new state-of-the-art plant established in Horana. The Beira Enviro Solution Limited, a subsidiary of the Beira Group is an innovative project approved by the Board of Investment of...

Ceybank Unit Trust, Sri Lanka's largest equity linked Unit Trust Fund with net assets over Rs. 3,700 million as at end March 2010 and managed by Ceybank Asset Management, has performed admirably to report 121% growth (net asset....

SriLankan Airlines' newest A330 aircraft touched down in Katunayake on 20 July. A multi-religious ceremony was held at the airlines' Engineering Hangar with Chairman Nishantha Wickremasinghe, CEO Manoj Gunawardena, senior....

The All Share Price Index (ASPI) of the Colombo Stock Exchange (CSE) closed above the 5,000 level for the first time in history on July 28. The ASPI closed the day at 5,138.9 gaining 139.8 points (2.8 per cent). The Milanka ....

Socioeconomic Development in Sri Lanka (SEEDS) an arm of the Sarvodaya movement and Lanka Orix Leasing Company (LOLC) signed a deal that would divert migrant remittances from consumption into savings and...

The Colombo bourse yesterday bounced back to its high-flying mode on a turnover of Rs.5.3 billion, up from the previous day’s Rs.3.25 billion and the highest in recent times, with both indices better than recovering the...

The global business dynamics compels businesses in Sri Lanka to continuously re-imagine the challenges to survive and re-create the business model. Speaking at the CIMA 2010 Business Leaders Summit at...

The changes of the market microstructure of the CSE including transaction costs will be active from August 1. The crossing threshold will be increased from Rs 10 million to Rs 20 million. The tick size on transactions will be reduced to 10 cents across the board....

Sri Lanka's Etisalat unit said it was spending 163 million US dollars to expand its network into war ravaged north of the country and improve its broadband services in urban areas....

For the second time, National Savings Bank retained the services of MTI Consulting in working with NSB's Management Team to complete a three year strategic plan (2011-13). The senior management of the bank played an....

Prime Minister D.M. Jayaratne last week said that the revenue from the coconut industry could be increased to Rs. 75 billion from Rs. 24 billion via proper management and efficiency. He made this observation during his...

Sri Lanka's tea production in the first half jumped 26.2 percent from a year ago, suggesting the island nation's No. 1 agricultural export may hit a record, the state-run tea board said on Friday. Tea output in the first half was...

The leasing industry which faced a setback in recent years due to the country’s financial crisis is in for good times following the revival of industries and tax reductions on import of vehicles. Leasing industry experts said...

A people friendly tax system together with plans to increase investment is needed to achieve the medium term growth projections of the government, said a top government official. The government is planning to achieve a 8...

The Branch network of the Colombo Stock Exchange (CSE) has recorded an exceptional growth during this year with three branches recording over 300 percent growth in turnover and one branch recording a growth of over...

The newly acquired SriLankan Airlines wide body A 330 Airbus embarked its inaugural flight to Madras commencing commercial operations yesterday. The aircraft was acquired on five year lease basis and another craft will be...

Sri Lanka Ports Authority (SLPA) aiming at catching up with its competitors regionally will be constructing Cargo Villages at ports in Colombo and Hambantota with initial investments of Rs.2.5 billion and US$10 million....

A proposal to expand the Bandaranaike International Airport by constructing a tourist hotel has been made, airport sources said yesterday. The source said the hotel might be built adjacent to the airport or terminal. “Plans are...