The board of directors of the Colombo Stock Exchange (CSE) approved the revision of the index calculation methodology of the All Share Price Index (ASPI) at a board meeting held yesterday, to change its calculation basis from full market capitalisati

Sri Lankan shares rebounded to end higher yesterday, helped by gains in financial and industrial stocks.

Sri Lanka will not be able to welcome tourists from Turkey and those opting to fly into the island nation with Turkish Airlines, as the flag carrier has suspended flights to the country, due to COVID-19 concerns.

The government said there are neither plans nor space to immediately open up vehicle imports into the country, after the budget presented last week wrapped up without making any reference to the matter, dashing the hopes of many who waited for the bu

Hemas Holdings PLC had to contend with the soaring producer prices, as the company’s outsize consumer product manufacturing segment felt the brunt of the rising costs and the challenges in the foreign exchange market, sending the group profits down

Commercial Bank of Ceylon PLC reported robust top and bottom line performance, as the bank ploughed ahead with new loans, lower funding cost and cut provisions from last year, albeit setting aside a sizeable amount for possible bad loans, considering

Hatton National Bank PLC (HNB) saw a marginal increase in its profits for the September quarter (3Q21), despite the solid loan growth for the period, as the bank recognised additional provisioning in the quarter under review, on account of the sovere

Sri Lanka last Friday announced plans to securitise the remittance inflows surrendered to the Central Bank in a bid to raise medium term foreign currency funding aimed at easing the pressure on the domestic foreign exchange market until inflows from

The Central Bank yesterday rejected claims by certain parties to the effect of forcible conversion of worker remittances into rupees under the proposed SFA, calling such claims, “completely unfounded”.

Expolanka Holdings PLC will be included in the MSCI Frontier Markets Index for the first time replacing Commercial Bank PLC after November 30th this year.

The hard-hit tourism sector players expressed their displeasure on the Budget 2022 as despite much hope for State support for a quick recovery, the industry was largely ignored in the government’s policies proposed for the coming year.

National Development Bank PLC (NDB) reported higher profits for the three months to September (3Q21) as the bank defied the fresh challenges that stemmed from virus-induced restrictions to maintain its growth momentum set off at the start of the year

Sampath Bank PLC’s profits soared in the three months to September, despite higher provisions for loans and other assets as the lender benefitted from the steep decline in interest expense, higher fee incomes and foreign exchange gains made possibl

While raising concerns on potential policy confusions within the Budget 2022, Opposition party lawmaker and economist Dr. Harsha de Silva on Saturday unleashed a verbal barrage on Budget 2022 presented by Finance Minister Basil Rajapaksa a day ago,

The Budget 2022 that was presented last Friday by Finance Minister Basil Rajapaksa did not propose any policies that would bring about adhoc changes that are difficult for the general public to comprehend, Central Bank Governor Ajith Nivard Cabraal s

Aitken Spence PLC reported an impressive growth of 388 percent from its earnings before interest expense, tax, depreciation and amortisation (EBITDA) of Rs. 2.9 billion compared to Rs. 595 million in the 2Q of the previous year.

Hambantota International Port Group (HIPG) and the Board of Investment of Sri Lanka (BOI) signed a cooperative ‘Shared User Services’ Memorandum of Understanding (MoU) on October 26th.

Open-source technology provider WSO2 announced that the company has closed US $ 90 million in financing from client vehicles advised by Goldman Sachs Asset Management Private Credit.

The management of Tokyo Cement Company (Lanka) PLC recently laid the foundation for a factory expansion project in Trincomalee, to increase its manufacturing capacity by a further one million MT.

As Sri Lanka continues to fall short in fetching tax revenues, the government yesterday announced several measures to firm up the tax administration.

The government plans to initiate talks with foreign parties to obtain green bond financing facilities to fund green ongoing projects, to meet the country’s climate commitments and to achieve the Sustainable Development Goals.

Finance Minister Basil Rajapaksa yesterday revealed the plans to recover Rs.8.5 billion from the alleged perpetrator of the bond scam, Perpetual Treasuries, via a budget proposal.

The Special Goods and Services Tax (GST), which was in the budget last year but wasn’t enforced due to the economic downturn caused by the virus resurgence, is set to come into force from January next year.

Eyeing a Rs.254 billion boost in the tax income, the government yesterday proposed to levy a one-off 25 percent surcharge on large companies, 3 percent increment on VAT charged on banks and financial services providers and a new social security levy

Honourable Speaker, 1.1 I present today the 76th Budget of the independent Sri Lanka. This is the second budget of the government of His Excellency the President Gotabaya Rajapaksa and my maiden budget speech as the Minister of Finance. Honourable

Sri Lanka’s MAS Holdings yesterday announced that one of its subsidiaries, MAS Brands, which owns and operates the retail lingerie business under the brand amanté, was acquired by Reliance Retail Ventures Limited, a subsidiary of India’s Ambani-

The pandemic related restrictions in place during the second half of the quarter ended in September (3Q21) had a substantial bearing on both revenues and profits of Ceylon Tobacco Company PLC (CTC), the interim financial accounts released to the Colo

which has interests in retail, food & beverage manufacturing and distribution and restaurant sectors, announced a group restructuring exercise yesterday.

Nations Trust Bank PLC (NTB) reported higher profits in the three months to September as the bank gained its momentum in new loans defying the economic challenges came about from the virus related lockdowns, which lasted for nearly half of the quarte

With increasing global demand for specialty tyres, GRI continues its expansion drive by increasing its manufacturing capacity.