22 March 2019
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Graft complaint over expropriated Sri Lanka hotel tower deal

hyatt hotelSri Lanka's Deputy Economic Development Minister Harsha de Silva asked the island's bribery commission to probe the expropriation and alleged sale at a knock down price of a high rise that was to house a Hyatt hotel.

The building, whose construction was started by a collapsed Ceylinco group was expropriated by a controversial law by the recently ousted Rajapaksa regime. Read more...

Inheriting a “scary” economic situation

FMSri Lanka’s new Government has inherited a “scary” economic situation and is looking for cheaper debt while aiming to maintain a stable rupee, the Finance Minister said on Monday. Read more...

Crucial Monetary Board meeting today, rupee value may see changes

centralbank 234Sri Lanka’s Central Bank (CB) Governor Arjuna Mahendran will chair a crucial meeting of the bank’s Monetary Board on (Monday) that is likely to seriously consider current interest rates and the value of the rupee against international currencies. Read more...

Northern Power Co not responsible for Jaffna water contamination issue

oil confe 1All available scientific evidence shows that the powerhouse of North Sri Lanka- 'Northern Power Co (Pvt) Ltd' is not any way linked to the issue of ground water contamination in Jaffna, and that such baseless allegations have been fueled by parties with vested interests, its parent company - the renowned MTD Walkers PLC announced.   Read more...

IMF downgrades global growth forecast

imf 50The International Monetary Fund (IMF) has lowered its forecast for global economic growth for this year and next.

The IMF now expects growth of 3.5% this year, compared with the previous estimate of 3.8% which it made in October. Read more...

Offices at CPC sealed to ensure the safety of “files”

lanka 1The Power and Energy Ministry has taken steps to seal several offices in the Ceylon Petroleum Corporation (CPC) to ensure that important documents and files do not go missing from the institution. Read more...

World Bank cuts global growth forecast

 80247562 7b5671cd-c9bf-463The World Bank has cut its global growth forecast, warning the US alone cannot drive an economic recovery.

In its bi-annual report, the Bank predicted global growth of 3% this year and 3.3% next year, below its June forecast of 3.4% and 3.5% respectively. Read more...

Australia Gateway unveils new opportunities for Sri Lankans in Australia

me 1Upbeat on growth prospects available for professionals and businesses  
One of Sri Lanka’s leading Australian Migration Consultants - Australia Gateway, the Sri Lankan arm of Melbourne-based Fairfields Lawyers has embarked on aggressively promoting investment, trade and immigration opportunities in the Continent, in the light of its latest immigration-friendly visa regime. Read more...

Bliss Travels announces building three hotels in Sri Lanka

bliss 1Australia based - DMS Universal and its Sri Lanka travel and tourism arm – Bliss Travels recently announced that the Company hopes to build three hotels in Negombo, Uswetakeyyawa and Sigiriya banking on Sri Lanka’s fast-growing hotel industry. Read more...

Sri Lanka’s no 1 Digital Marketing Boot Camp in December

small enterprenureDigital Marketing is the way forward for businesses to thrive in the global market be it small business enterprises or large corporates. Customers of today expect instant information and prefer social media sites and forums to get information regarding products and services. Digital Marketing taps into this modern trend by promoting businesses and services via digital means such as the internet, mobile phones and social media sites. To learn, understand and use digital marketing is the best tool for a marketer nowadays. Read more...

Stocks fall to 12 week low due to political uncertainty


CSESri Lankan stocks have fallen to a 12-week closing low on Thursday as investors pulled back over worries the defection of some ruling party members would result in a hung parliament after the Jan. 8 presidential polls.


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