The conditions that mostly favour a suppliers market at present with higher global commodities prices could soon start changing to a buyers market in which the latter starts commanding terms, when supply chains begin to come out of the current strain

As the government is dealing with some strenuous fiscal conditions amid the steep loss of revenues inflicted by the prolonged pandemic, it has resorted to some sizeable spending cuts on social and welfare expenditure as well as capital expenditure fo

The government plans to draft legislation to update the Civil Procedure Code (Chapter 101) to permit the use of modern communication methods such as mobile phone messages and emails for the process of issuance and service of summons in a lawsuit.

The Cabinet of Ministers this week gave its approval to formulate new cybersecurity legislation in two separate bills including a ‘Defence Cyber Commands’ bill and a separate bill covering general cybersecurity laws including provisions to estab

The government’s move to withdraw the several gazette notifications that imposed price controls is a step in the right direction, said Colombo-based economic think-tank Advocata Institute while pointing out that the step fosters competition and imp

Trend setter in the supermarket industry, Softlogic Glomark has expanded its presence to Negombo, with another one of a kind global supermarket experience.

Anods Cocoa (Pvt.) Ltd, which offers a premium selection of chocolates to the consumer, took a bold step to tap into several strategic export markets under the brand name Puredale Nature’s Crest, to support the national economy overcome the current

H-Connect International, a fully-owned subsidiary of The Hirdaramani Group and a leading provider of global business process management (BPM) services, announced the appointment of Deshaka Perera as Chief Operating Officer.

Hemas Consumer Brands is guided by its moral compass: its values. It is those values that hold it together in meeting success and providing its customers with high-quality products with the best standards.

Hemas Holding PLC has divested its entire stake in its sub-subsidiary Spectra Logistics (Pvt.) Limited for Rs.1.27 billion to GAC Logistic (Private) limited.

In a major step towards supporting the private sector in Sri Lanka amid a significant economic downturn, IFC yesterday announced the issuance of its first-ever rupee-denominated bond in the country.

State-owned National Savings Bank (NSB) has successfully raised Rs.11.54 billion via an unlisted rated redeemable senior debenture issue, through private placement.

Top business cycle economist and senior banker Dr. Kenneth de Zilwa has been reappointed as Chairman of the Financial System Stability Consultative Committee (FSSCC) of the Central Bank, with effect from October 6, 2021, by the newly-appointed Govern

Sri Lanka braving through the present economic challenges and getting on the recovery track would require the government to focus on ensuring the resources are equally distributed throughout society in the 2022 budget and make sure the effort is at t

Industrial production, which measures the country’s manufacturing firepower, added a little bit more strength in August, as the apparel sector gained steam with manufactures ramping up production amid strong order books.

Ceylon Hotels Maldives (Pvt.) Ltd, a unit of Sanjeev Gardiner-controlled Ceylon Hotels Corporation PLC (CMHL), has decided to divest its 50 percent stake in the joint venture (JV) resort project located on the island of Ambara, in Vaavu Atoll, in the

The Central Bank of Sri Lanka (CBSL) yesterday announced its decision to permit the failed non-bank financial institution Swarnamahal Financial Services PLC (SFSP) to resume business for a limited purpose, on a conditional basis.

The Court of Appeal has issued a writ of mandamus against the Secretary to the Treasury and the Compensation Tribunal to pay the Seylan Bank PLC a sum of Rs.96.6 million over a mortgage loan granted under the Revival of Underperforming Enterprise or

The government plans to increase fuel prices based on a suitable methodology following discussion with the Finance Ministry, Ceylon Petroleum Corporation (CPC) and other key stakeholders.

The final session at the upcoming Sri Lanka Retailers Forum 2021 will be an experience sharing panel discussion on how brick and motor stores and digital businesses have adapted to disruption brought about by the pandemic.

Leading Sri Lankan corrugated carton manufacturer, Ex-Pack Corrugated Cartons Limited, successfully concluded its virtual investor forum and event for analysts, as the company prepares to go public.

SLASSCOM recently unveiled its Environmental, Social and Governance (ESG) initiative in collaboration with the United Nations in Sri Lanka and Global Compact Network Sri Lanka.

The government has appointed a committee led by the Secretary to the Ministry of Plantation, Rawindra Hewavitharana to decide on a suitable source and other details to provide nitrogenous fertilizer in liquid form for the country’s tea sector amids

Agriculture Minister Mahindananda Aluthgamage is expected to announce a mechanism for organic fertilizer distribution among paddy farmers in a bid to address the fertilizer shortage for the Maha Season cultivation following the ban on chemical fertil

The Court of Appeal yesterday reserved for November 3 to deliver its order regarding the preliminary objections raised by newly appointed Central Bank Governor Ajith Nivard Cabraal and Attorney General challenging the maintainability of the writ peti

The Cabinet has cleared a draft bill to increase the existing minimum retirement age limit of private sector employees to age of 60 and to present the same in Parliament for the approval.

Sri Lanka’s government bonds suffered their biggest drop in nearly seven weeks yesterday after the Central Bank scrapped a plan to buy back a chunk of the country’s debt on the cheap after default fears pounded prices.

With a vast majority of bondholders of Sri Lanka’s January and July 2022 International Sovereign Bond (ISB) issuance are determined to hold the ISBs to maturity, the Central Bank (CB) has scrapped the proposed ISB buy-back initiative, announced rec

Canadian David Card, Israeli-American Joshua Angrist and Dutch-American Guido Imbens yesterday won the Nobel Economics Prize for insights into the labour market and “natural experiments”, the jury said.

Oil prices surged again yesterday, extending the multiweek gains as an energy crisis gripping major economies shows no sign of easing amid supply restraint from the major producers.