The Cabinet nod was given to move ahead with the proposed Multifunction Commercial Building Project in 6-acre land plot owned by B. C. C. Lanka Company Limited in Colombo 12.

The Ceylon Chamber of Commerce elected Vish Govindasamy as its Chairman during the Chamber’s 182nd Annual General Meeting held yesterday.

As the debt of Sri Lanka’s crippled tourism sector exceeds Rs.300 billion, the Hotels Association of Sri Lanka (THASL) called on the government to respond to their repeated pleas for assistance.

As South Asia’s debt continues to escalate due to poor performing State-owned-enterprises and banks (SOEs and SOBs), the World Bank (WB) yesterday advised it is essential for nations within the region to embark on serious reforms to steer away from

The banking sector gave higher amount of credit to the government and to public sector enterprises during May as the State revenues ran dry amid the closure of large swaths of the economy while rising oil prices amid State sector inefficiency engulfe

Sri Lankan shares ended lower yesterday, after touching a more than four-month high in the previous session, dragged down by losses in consumer and industrial stocks.

Sri Lanka’s conglomerates with finance company subsidiaries could face pressure on their leverage and thereby their credit ratings as the finance companies’ growth amid weak operating conditions may demand increased support from the parents, whic

The Central Bank yesterday printed the highest amount of money recorded in a single day to bridge a budget hole, amid shrinking tax income, largely due to virus-related lockdowns and increased expenditure to contain the virus.

Sri Lanka inking a preferential trade agreement (PTA) with Bangladesh should have no strings attached tariff as a key feature to ensure its success, a paper by the researchers at the economic think tank Institute of Policy Studies (IPS) suggested.

Sri Lanka remains an outlier among the Fitch-rated Asia Pacific (APAC) region frontier economies for weaker external sector buffers such as liquidity and reserves, while the others in the bloc strengthened their external sector positions with the exc

LOLC Development Finance PLC yesterday eclipsed the country’s largest private bank Commercial Bank (Ceylon) PLC, to become the listed entity with the fourth largest market capitalisation on the Colombo Stock Exchange (CSE).

Contrary to the expectations that the interest rates would stay lower for longer, ICRA Lanka expects the near-term Treasury yields could see some upward pressure from the rising consumer prices, which could be exacerbated by the recent hike in fuel p

The Labour Ministry and International Organisation for Migration (IOM) a.k.a. the UN migration agency, have reached an agreement to launch the ‘Dream to Departure’ (D2D) project,

The Central Bank injected Rs.23 billion worth liquidity last Friday, taking the printed money stock in excess of Rs.900 billion as the monetary authority is now forced to provide liquidity to the cash-strapped government after the latter closed down

Sri Lanka failed to sell nearly two-thirds of Sri Lanka Development Bonds (SLDBs) offered at the auction held last week to rollover similar styled bonds worth US$ 178.57 million despite claims that these bonds consistently see active demand from bank

BBC: A single-dose COVID vaccine made by Janssen has been approved for use in the UK by the medicines regulator.

Industrial production in Sri Lanka fell sharply in April from March in a reflection of the damage’s extent the restrictions imposed on travel and other economic activities from the third week of April have had on the manufacturing base of the count

In a major surprise, the MSCI last week proposed to downgrade the Pakistan Stock Exchange (PSX) to its Frontier Markets (FM) Index from the Emerging Markets (EM) Index in November 2021.

The purchase of South Asia Textiles Limited by Hayleys Fabric PLC could in the short-term weigh on the combined entity earnings due to decline in margins and the increase in finance cost stemming from the borrowings, which may have been made to fund

The government was presented with a long list of issues faced by the local business communities last week with the Federation of Chambers of Commerce and Industry Sri Lanka (FCCISL) highlighting the plight of its member associations due to the pandem

BuzzFeed, the 15-year-old digital media company known for its lists, quizzes and its Pulitzer Prize-winning journalism, announced Thursday that it plans to go public at an estimated valuation of US $ 1.5 billion.

Fitch Ratings has assigned Commercial Bank of Ceylon PLC’s (CB, AA-(lka)/Stable) proposed Sri Lankan rupee-denominated Basel III-compliant subordinated debentures of up to Rs.10 billion an expected national long-term rating of ‘A(EXP)(lka)’.

Mastercard yesterday announced the appointment of Nikhil Sahni as its new Division President South Asia and Country Corporate Officer (CCO) India, taking over from Porush Singh.

The chairman of scandal-hit Japanese conglomerate Toshiba has been voted out after a shareholder revolt.

Aitken Spence Elevators has been audited and awarded with the two prestigious integrated ISO certifications by SGS Lanka including ISO 14001:2015 (Environment Management System) and ISO 45001:2018 (Occupational Health and Safety).

At the recently concluded Colombo Tea Auctions held in May 2021, Craighead, Kataboola, Queensberry, Galamuduna and Rilhena Estates managed by Kahawatte Plantations PLC (KWPL) obtained 33 of the top prices for a range of tea grades.

Despite the recent Central Bank (CB) measures, Fitch Ratings expects only a limited amount of new investments into Sri Lanka’s foreign-currency government securities, which includes international sovereign bonds (ISBs) and Sri Lanka Development Bon

The United Nations Conference on Trade and Development (UNCTAD) expects a slow recovery in foreign direct investment (FDI) inflows to Sri Lanka after FDI inflows to the country contracted by a sharp 43 percent Year-on-Year (YoY) in 2020, mainly due t

The pace of business growth could moderate at Dipped Products PLC in the medium term after the global glove maker for industrial and medical needs recorded soaring sales fuelled mostly by the pandemic and the shift in sales from a key global supplier

British-born U.S. technology entrepreneur John McAfee died on Wednesday by suicide in a Barcelona prison after the Spanish high court authorised his extradition to the United States on tax evasion charges, his lawyer told Reuters.