A development economist says Sri Lanka needs an independent body that can compile vital statistical data such as the inflation index, free from heavy political influences. The inflation index, the Colombo Consumers’ Price Index...

The stock market is picking up where it left off before its scare over debt problems in Dubai. Major stock indicators rose more than 1 percent Tuesday, including the Dow Jones industrial average, which added 126 points and...

The Central Bank is relaxing many rules and making a push for credit growth in the Jaffna District so that normalcy can be restored as soon as possible targeting loans amounting to Rs. One billion, through a special loan scheme,...

The rate of inflation picked up for the second consecutive month to 2.8 percent during the month of November year-on-year on increased prices of food and fuel, after reaching a low 0.7 percent last September. Releasing the...

There is a wide variety of skilled professionals needed for the countries economic growth transportation to create Sri Lanka as the South Asian hub says a Professor of Moratuwa university. The value of turnover from the ...

Sri Lanka Telecom Mobitel, the National Mobile Service Provider has introduced yet another novel concept of FREE Home Delivery and installation of its popular High Speed Internet services. Under this scheme, any potential...

A delegation consisting of five members will be flying to London on Wednesday (December 2) to once again meet Lloyds of London to request a reduction of the additional war risk premium currently charged by the global...

A new trade union has been formally registered with the authorities and the first item on its agenda is to improve relations with the public through better services. A new union of bus drivers and conductors has been formed and...

The Chinese government is positively considering to support the reconstruction efforts of the North and East said the first secretary of the Chinese Embassy Sun Lee Dong reading out a message sent by the Chinese...

Raj Rajaratnam's Galleon International master fund yesterday sold its 29% stake in Ceylon Leather Products for Rs. 200 million. The sale is part of Galleon's phased out exit from select investments in Sri Lanka. The buyer of...

Benchmark rates of Treasury securities are beginning to bottom out after yields were on a decline during the past few months, especially with growing foreign investor interest after the war ended in April while longer term bonds...

An exporter says authorities do a lot of theorising, rarely listening to industrialists and preaching to the private sector about the need to improve productivity while not practicing what they preach. "Industries are important...

Trading remained desultory on the Colombo bourse yesterday with turnover down to Rs.267.5 million from the previous day’s Rs.293.7 million and both indices down though not sharply so with the All Share losing 8.31 points...

International Accounting Standards Board (IASB) Chairman, Prof. David Tweedie said that Sri Lanka is one of the best emerging economies in the Asian region while maintaining high accounting standards in financial reports...

Sri Lanka’s trade deficit has contracted for the ninth consecutive month with both exports and imports contracting and with private remittances improving official reserves have exceeded US$ 5 billion, enough to finance imports for...

The Colombo bourse sustained Monday’s momentum with turnover topping Rs.1.5 billion, down from Rs.1.8 billion the previous trading day, with both indices moving up sharply – the All Share by 38.77 points (1.33%) and the...

Central Bank Governor Ajith Nivard Cabraal asked regional heads and branch managers of commercial banks operating in the Northern Province not to send depositor funds to their respective head offices in Colombo. "Keep your ...

Exploiting the strategic central location of Kilinochchi in the Northern Province, the Central Bank mulls opening a Provincial Office in the former administrative capital of the LTTE. Central Bank Governor Ajith Nivard Cabraal ...

Sri Lanka’s deficit is still the highest in the world at approximately 39 million kilos. Slight catch-up improvement since last week. ( According to the Tea Board). Bangladesh, nowhere near big tea producer names, yet a significant...

The Minister of Labour Relations and Manpower, Athauda Seneviratne says the recent 40% plantation sector wage increase, is the most attractive wage increase in the plantation sector, in a long time. "This wage increase is...

Globally renowned automobile manufacturer Chrysler assured the Sri Lankan motoring community that the company had made an amazing turnaround during the height of the financial crisis and was now ready to serve...

The Port of Colombo continued to see volumes fall as the rest of the world begins to talk about a recovery in the global economy. Total cargo volumes declined by 6.8 percent year-on-year to 31,502,000 MT from 33,817,000 MT...

Small scale rural industrialists said that they are unable to sell their products due to the absence of a secured market and added that if the situation persists they will have to give up their occupation. They said that it is only ...

The Securities and Exchange Commission (SEC) will be introducing derivatives to the capital market next year. Derivative is a popular instrument used in the Indian capital market enabling investors to make huge returns. “The...

Sri Lankan shares rose on Friday from an over two-week low, snapping a seventh straight fall as cautious investors bought battered shares in thin trade even as political uncertainty weighed on investor confidence. The All...

Sunil Wijesinha, Chairman/Managing Director Dankotuwa Porcelain PLC, says the government should take the lead in improving productivity and set up institutions that help industries improve quality and productivity.

As a part of the diversification of the external assets portfolio of the Central Bank of Sri Lanka (CBSL) into various safe financial instruments, the CBSL has been acquiring Gold from the international market over the past several...

The Tourism Ministry has formulated a plan to attract seven lakhs of tourists annually to Sri Lanka. The tourism industry saw a sharp decline during the war, but it is beginning to regain its lost image, the Tourism Ministry said.

Sri Lanka Telecom (SLT) has over 50,000 fixed line telephones, 80,000 CDMA connections and around 3,500 broadband customers in the Northern and Eastern provinces. The company has addressed the need to improve its...

The Inland Revenue Department is set to achieve its revenue collection targets for the year as new tax payers are voluntarily coming in to the tax net, Commissioner General of the Department of Inland Revenue, Mahinda...