Stronger disagreement observed on equality of opportunity, SL Barometer 2021 reveals

Sri Lankans are leaning towards stronger disagreement regarding equality of opportunity, the findings of the latest Sri Lanka Barometer revealed, indicating that more needs to be done to address the causes of conflict and discrimination since the end of the war.

SEC suspends Dinal Wijemanne’s registered stockbroker status amid pending legal action

Capital market regulator, the Securities Exchange Commission (SEC), has issued a directive suspending former Taprobane Securities (Pvt.) Ltd CEO Dinal Wijemanne from functioning as a key management person and taking part in any activities involving clients as a registered stockbroker, amid the pending legal proceedings on his alleged involvement in share price manipulation of Ceylon Grain Elevators PLC (GRAN), during the 2010-2011 period.

Rubber sector continues to struggle with low yields

The rubber sector woes persisted in the month of April, with the industry continuing to deal with low yields.

IMF backs Sri Lanka’s financial sector stability in potential DDR scenario

The International Monetary Fund (IMF) plans to support the government to come up with a strategyto safeguard financial sector stability in a potential domestic debt restructuring (DDR) scenario, a top official of the Fund said.

Browns Investments to buy James Finlay Kenya tea estates business

Finlays, a leading global supplier of tea, coffee and botanical ingredients and solutions, yesterday said it has reached an agreement to sell its James Finlay Kenya tea estates business to Sri Lanka’s Browns Investments PLC.

Moose Clothing enters Singapore in partnership with retail giant Mustafa Center

Moose Clothing Company has made yet another commendable move to expand the global footprint of the brand through their latest partnership with the well-known retail giant - Mustafa Center in Singapore.

Australian mineral exploration company appoints JAT Holdings as country partner

Titanium Sands to acquire James Global and partner with JAT Holdings for Sri Lankan activities

Fed lifts rates by a quarter point

The Federal Reserve voted unanimously to raise interest rates by a quarter point Wednesday, the tenth rate hike since the central bank started its battle against inflation last March.

Cargills ventures into fuel retail business with Lanka IOC

Cargills (Ceylon) PLC is marking a new milestone in its journey by opening Lanka IOC fuel stations at its Cargills retail outlets.

Indian American businessman Ajay Banga elected as new President of WB

The World Bank’s board of governors on Wednesday elected former Mastercard CEO Ajay Banga to a five-year term as president, ushering in an Indian-born finance and development expert to revamp the lender to tackle climate change and other global crises.

CBSL presents Annual Report 2022 to President

In terms of Section 35 of the Monetary Law Act No. 58 of 1949, the seventy third Annual Report of the Monetary Board of the Central Bank of Sri Lanka was presented yesterday to President Ranil Wickremesinghe, who is also the Minister of Finance, Economic Stabilisation and National Policies, by Dr. P Nandalal Weerasinghe, the Governor of Central Bank of Sri Lanka.

Apparel export earnings hit 10-year low in 1Q

MAS Group breaks new ground as world’s first manufacturer of adaptive clothing for persons with disabilities

In a move to break the barriers that prevent persons with disabilities from better integrating into society, Twinery - Innovations by MAS – the changemakers of innovative clothing across the world, together with Linea Aqua, aim to break through the stigma surrounding disability by changing the narratives that discriminate.

Overseas Realty 1Q performance helped by massive exchange gains

Overseas Realty (Ceylon) PLC recorded a group revenue of Rs.880 million and a group profit before tax of Rs. 2.3 billion for the first quarter ending 31st March 2023.

Standard Chartered Sri Lanka executes first INR transaction for client

With the recent introduction of Indian Rupees (INR) as a designated foreign currency by the Central Bank, Standard Chartered Sri Lanka has completed its first INR transaction for a multinational corporate client in the form of an outward telegraphic transfer between Sri Lanka and the Bank’s office in Mumbai India.

Seylan Bank appoints Ramesh Jayasekara as Director/CEO

Sri Lanka ends year 2022 with 4.7% unemployment rate amid worst economic conditions

Sri Lankans see real wages eroding by around 20% last year amid red-hot inflation

Japan, UNDP to help improve women’s economic well-being with US$ 3.8 mn grant

The government of Japan and the UNDP have joined hands to improve the women’s economic well-being for smallholder farmer families in Sri Lanka.

Fitch downgrades Co-operative Insurance Company on governance shortcomings

Fitch Ratings has downgraded Co-operative Insurance Company PLC’s (CICPLC) National Insurer Financial Strength (IFS) Rating to...

EU and FAO launch 4mn euro initiative to improve efficiency and sustainability of paddy farming

The Food and Agriculture Organization of the United Nations (FAO) together with the European Union (EU) have officially launched...

Government to introduce e-procurement from May

State Minister of Finance Ranjith Siyambalapitiya yesterday said from May 1 procurement activities with a value of more than Rs.200 million....

Ceylon Tea confident of retaining market share with recovery in output

Sri Lanka, the world’s largest orthodox black tea producer remains confident in retaining the market share and its brand value reflected....

Government invites private sector to take part in US$ 2bn North Port development

The government is eyeing US$ 2 billion worth of investments to build the proposed North Port of Colombo consisting of three....

Tea exports down 22% in March, 15% in first quarter

Sri Lanka’s tea exports dipped 22 percent year-on-year (YoY) to 17.97 MnKgs in March continuing the declining trend seen in both tea production and exports in recent times, the data released by Forbes & Walker Tea Brokers showed.

World could face record temperatures in 2023 as El Nino returns

REUTERS: The world could breach a new average temperature record in 2023 or 2024, fuelled by climate change and the anticipated return of the El Nino weather phenomenon, climate scientists say.

SLT to save Rs.300-400mn per year with relocation of Mobitel offices to new HQ

Mobitel operational offices are scheduled to move into a new state-of the art operational headquarters located in Welikada in May by bringing an estimated savings of Rs.300-400 million per annum on rent for Sri Lanka Telecom PLC (SLT).

Rs.5mn cash bundle goes missing at Central Bank

Seylan Bank raises Rs.5bn via debenture issue

Treasury bill yields rise for second week

For the second week Treasury bill yields rose across all three tenors at Wednesday’s auction, the data released by the Central Bank showed.

Hambantota Port breaks new ground in RO-RO transshipment

​The Hambantota International Port (HIP) last week handled over 900 units of the latest BMWs transshipped from the Port of Koper - Slovenia to the Port of Pyeongtaek in South Korea.