GoldQuest, the controversial multi-level marketing firm, is considering selling its majority stake in Ferntea after company chairman Anura Fernando quit following an ongoing dispute with other shareholders.Anura Fernando, who resigned on October 5 and went abroad the following day, is a nominee of GoldQuest which on July 2006 seized control of the company, earlier controlled by Jayantha Fernando and his family

Some television channels have begun following to the letter, rules pertaining to advertising and promotion of alcohol and tobacco – much to the annoyance of viewers.In recent weeks, MTV and Sirisa have blacked out drinking scenes or cigarette-smoking saying, in a notice that ran while the dialogue was on, “We are abiding by regulations in the Alcohol and Tobacco Act.”

Weeks of negotiations between the Employers' Federation of Ceylon (EFC) companies and the unions have resulted in a fresh Plantation Collective Agreement which raises the daily wage of workers from Rs.200 to Rs.290. The wage increase was agreed upon by the parties on Tuesday after a meeting with President Mahinda Rajapaksa. Back in September 2007, ...

Despite skepticism by economists and various threats by the opposition parties, Central Bank officials this week launched road shows in the US on Sri Lanka’s first international bond sale.Senior officials said the regulator team together with Governor, Nivard Cabraal, Deputy Governor Ranee Jayamaha and Director-General Public Debt, C.J. Siriwardena are in Washington to raise as much as US$ 500 million.