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Economy
6 State-owned Colombo Bungalows up for 30-year lease for Cafés, Restaurants
The government has called for investment proposals to commercially develop and operate a number of State-owned bungalows in Colombo under 30-year lease agreements.
The Ministry of Finance, Planning and Economic Development has invited…
Threat to oil tankers in Middle East worst since start of Iran war, analysts say
The threat to ships carrying oil in the Middle East is at its worst since the Iran war started, experts have said, after a spate of attacks on another key route in the region.
The warning comes after a number of attacks on vessels in the…
Oil prices fall 1% as investors weigh pause in US strikes on Iran
Oil prices fell 1% on Tuesday as market participants continued to weigh a pause in U.S. strikes on Iran, which has raised hope of a diplomatic solution to their conflict and the normalisation of Middle East energy flows.
Brent crude…
Pakistan seeks $10 billion fund from US after mediating Iran talks, sources say
Pakistan has asked the United States for a $10 billion exchange stabilization facility, according to two sources briefed on the matter, which, if approved, could provide a lifeline for the cash-strapped South Asian economy. The request,…
Brent oil tops $90 as US, Iran intensify attacks in Middle East
Oil prices jumped 3% on Monday, with Brent surpassing $90 a barrel, as the United States and Iran expanded attacks in the Middle East that have curbed energy shipments in the Strait of Hormuz.
Brent crude futures climbed $2.69, or…
India and EU forge a strategic technology alliance on AI, chips, clean energy and trade
India-EU Trade and Technology Council ministerial meeting highlights progress on FTA and supply chain resilienceThe India–European Union relationship is entering a more consequential phase, moving beyond conventional trade diplomacy towards…
Samsung profits jump 1,800% as AI boom drives chip sales
South Korean technology giant Samsung Electronics says it expects to post a 19-fold jump in its profits, driven by global demand for artificial intelligence (AI) memory chips.
The company forecast that it made 89.4tn won (£43.6bn;…
US Dollar selling rate surpasses Rs. 342
The Sri Lankan Rupee has depreciated further against the US Dollar.
According to the daily exchange rate report issued by the Central Bank (CBSL) today (25), the buying rate of the US Dollar was recorded at Rs. 332.34, while the selling…
Gold edges higher as US-Iran peace deal eases rate hike concerns
Gold prices edged higher on Tuesday as a preliminary U.S.-Iran peace agreement eased concerns of rate hike by the Federal Reserve, while investors awaited further details on the deal. Spot gold was up 0.3% at $4,317.43 per ounce, and…
Oil prices climb more than $3 after Israeli strikes on Lebanon
Brent oil prices jumped more than $3 a barrel on Monday, initially spooked by Israel's launch of renewed strikes on Lebanon a day earlier, but also gaining further steam after sounds of explosions were heard in Iran. Sounds of blasts were…