Local finance companies, which are subsidiaries of parent companies, could face headwinds in the current economic downturn as Fitch Ratings cast doubts over the latter’s ability to provide timely support in times of stress.

Diesel & Motor Engineering PLC (DIMO), which has aggressively expanded into the agriculture sector in recent times, announced last week the acquisition of a processor of vegetable and fruits for exports for Rs.450 million.

Amid rising apprehension of a global economic recession and resulting softening of international consumer demand, Sri Lanka’s Joint Apparel Association Forum (JAAF) reiterated its demand for systemic economic and political reforms to restore stabil

The diversified blue-chip Aitken Spence PLC reported a profit before tax of Rs. 14.2 billion for the twelve months ended March 31, 2022 compared to the loss reported before tax of Rs. 2.8 billion last year. This phenomenal performance was driven by t

Proposed changes to electricity tariffs could triple the monthly electricity bills of the wider industrial and commercial segments at a time when they are scrambling even to stay afloat with dampened business incomes and skyrocketing costs which have

As per the recent statement made by the chairman of the Export Development Board to make exports a national priority, CMA Sri Lanka COVID-19 SME Development Committee strongly recommends its proposal for the creation of Export Houses (similar to the

The Industrial Security Foundation (ISF), which acts as the sole organisation in Sri Lanka to represent the private security industry, having incorporated by an act passed in Parliament, Act No. 51 of 1999, elected Wing Commander (Retd.) Pradeep Kann

Amidst a host of global and local challenges, Hela Apparel Holdings PLC recorded a landmark year of growth in FY 2021/22, with revenue increasing by 75 percent to Rs.56 billion.

The Sri Lanka lapidary industry is renowned for its high-quality cutting and polishing techniques. Recognised as one of the best cutting centres in the world, the Sri Lanka lapidary industry is home to highly skilled craftsmen, who are talented in re

The Grandbell Hotel Colombo, a Board of Investment (BOI)-approved US $ 60 million worth Japanese investment visible in the heart of Colombo, recently opened its doors welcoming all to experience a fusion of Japanese and Sri Lankan hospitality.

Prime Minister Ranil Wickremesinghe expressed confidence that Sri Lanka’s relationship with India would not be impacted as it reaches out to China for further assistance to bail out the crisis-hit economy.

The Parliamentary Council yesterday decided to concur with recommendation to appoint career banker Nihal Fonseka as a member of the Monetary Board of the Central Bank of Sri Lanka (CBSL).

India and Japan have agreed to work together on assisting crisis-hit Sri Lanka, the Japanese government said, following a recent meeting between Prime Ministers Narendra Modi and Fumio Kishida in Tokyo.

The offering at the Colombo Tea Auction this week was marginally lower than the previous week and totalled 6.42 MnKgs.

Morison Ltd, one of the pioneers of pharmaceutical manufacturing in Sri Lanka, announced the commencement of commercial production at its state-of the-art WHO GMP and EU GMP-compliant production facility in Pitipana, Homagama.

The fundamental rights petition filed on behalf of the depositors attached to Ceylinco F&G Companies has been taken up before the Supreme Court, in order to evaluate the progress regarding the investment agreement.

The Ceylon Electricity Board (CEB), the largest electricity company in the country, failing to pay the dues amounting to Rs.23 billion to the renewable energy sector would put thousands of jobs at risk.

World Bank President David Malpass on Wednesday suggested that Russia’s war in Ukraine and its impact on food and energy prices, as well as the availability of fertiliser, could trigger a global recession.

Sri Lanka’s financial sector could collapse if the current tourism sector debt portfolio which is around Rs.500 billion is not addressed soon, a tourism sector stakeholder said.

Fitch Ratings yesterday estimated the gross losses of the riots erupted on May 9 at over a billion rupees,

Amid deepening economic and political crises in the country, Sri Lanka’s outward labour migration increased by a record 286 percent Year-on-Year (YoY) to 105, 821 in the five months up to May this year, according to official figures compiled by Sri

Prime Minister and Finance Minister Ranil Wickremesinghe yesterday met with heads of banks in Sri Lanka to discuss about providing loan deferral relief based on the needs of essential customers.

Taking a swipe at the current policies instituted to tackle inflation and Sri Lanka’s external sector woes, a Professor of Business Economics opined that orthodox economics cannot resolve the problems facedby the economy at present as one must take

The Treasury bill yields fell across all tenures yesterday after the Central Bank last week made clear that the yields had “overshot” and thus would intervene in the markets to stabilise them before expecting some easing.

In an effort to help the hard-hit tourism sector recover from the ongoing economic crisis and move to a path of revival, the Tourism Ministry has made an appeal to the source markets to consider reversing the currently placed travel advisories.

The 100 percent cash margin requirement against letters of credit (LC), which the Central Bank announced recently, is applicable to 779 goods this time, broadening the scope from an earlier version of the requirement last year, which covered 623 impo

CIC Holdings PLC navigated a turbulent quarter to emerge strong for the quarter ended on March 31, 2022 (4Q22), given the defensive nature of its businesses but the persistent dollar crunch and the expected contraction in the economy could put some p

The prices at the Colombo Rubber Auction reached a new high this week, breaking the previous record price.

Alpha Fire Services Limited (AFS) is set to become the first company to be listed on the Colombo Stock Exchange (CSE) representing the fire safety equipment industry, as it gears to list 2.76 million voting shares of the company by way of an Introduc