Top economist and senior banker Dr. Kenneth De Zilwa assumed duties as the fifth Chairman of LankaClear, after being appointed by Central Bank Governor Prof. W.D. Lakshman for a term of three years, effective from June 1, 2021.

The Cabinet nod was granted to award a Rs.220.8 million worth bid to Medmart Pharma (Pvt.) Ltd, to procure 32,000 vials of 100 mg/4 ml Denosumab injections to treat cancer patients.

Sri Lanka’s largest importer and supplier of LP gas, Litro Gas Lanka, is gearing up to establish an oxygen manufacturing plant and distribution network in Kerawalapitiya, to ensure the country does not fall short in its oxygen supply as it grapples

Access Engineering PLC reported stellar financial performance for the three months ended March 2021 (4Q21), due to the heavy demand for construction materials led by asphalt, for which the company commands the market leadership.

The Cabinet of Ministers this week granted approval to import the required carbonic fertilizer and natural minerals for 60 percent of paddy cultivations in the upcoming Maha season and 600,000 hectares of cultivated land of other crops in line with t

The Commercial Bank of Ceylon has once again been declared the ‘Best Bank in Sri Lanka’ at the 2021 FinanceAsia Country Awards, taking its place among global and regional giants adjudged the best domestic banks in their respective countries.

FoodBuzz Pvt. Ltd., the local franchisee of Singapore based boutique bakery chain, has its classification changed from a ‘subsidiary’ to ‘non-current asset held for sale’, the interim financial accounts of the R I L Property PLC (RIL) said.

Cargills (Ceylon) PLC reported higher revenues for the quarter ended March 31, 2021 (4Q21) as demand returned to its expansive food and beverages business, but the contribution from the group’s key supermarket business languished.

Consumer prices in the Colombo district accelerated in May as prices of both foods and non-food items rose from a month earlier, quite contradictory to the behaviour of prices when large swaths of the economy remain shuttered due to virus related res

The Cabinet of Ministers has cleared the path to award three long-term petroleum import bids to PetroChina International and one remaining bid to Swiss Singapore Overseas Enterprises.

Funds to settle nearly two-thirds of Sri Lanka Development Bonds (SLDBs), which are due this year, have been raised, as these bond issuances are continuously seeing active demand from banks and other financial service sector entities, the Central Ban

Billionaire businessman Dhammika Perera-controlled Royal Ceramic Lanka (RCL) PLC is gearing to enter into biscuit and chocolate production through its non-operational subsidiary Rocell Ceramics Limited, which was recently renamed as Biscuits and Choc

The Board of Investment (BOI), Ceylon Chamber of Commerce and Colombo Stock Exchange (CSE) are all set to unveil the first-ever virtual platform in Sri Lanka to attract foreign investments and Asia’s first and largest virtual investor forum from Ju

State borrowings fell in April after the government raised a massive amount of debt from the Central Bank and banking sector in March, according to the latest data released by the Central Bank.

Sri Lanka saw funds flowing into priority and productive segments of the economy before the virus restrictions disrupted the flow, the Central Bank data available through March-end, showed.

The banks have been asked to look for more than one’s Credit Information Bureau (CRIB) score when granting loans, as the assessment of creditworthiness solely based on this score may not always give the true picture, given the circumstances created

John Keells Holdings PLC (JKH) indicated that its future investment cycle would entail the development of Colombo Port’s West Container Terminal (WCT), as the company is estimating US$ 70 to 80 million investments during the terminal’s four-year

The White House on Friday sent Congress a US$ 6 trillion budget plan that would ramp up spending on infrastructure, education and combating climate change, arguing it makes good fiscal sense to invest now, when the cost of borrowing is cheap, and red

Sunshine Holdings PLC returned to pre-pandemic performance during the three months to March 2021 (4Q21) as the group, which has interests in healthcare rode on the pandemic-fuelled demand while its consumer and agribusinesses did well on the consumer

Local dairy producer Pelwatte Dairy has welcomed the government’s move to ban the chemical fertilizers from next Maha season towards endowing a healthy future generation to the country.

Melstacorp PLC reported solid top and bottom line performance for the three months ended March 2021 (4Q21) reaching pre-pandemic levels, led by Distilleries Company of Sri Lanka PLC (DCSL).

Sri Lanka’s producer prices continued to rise in mid-single digits in recent months from their year earlier levels, with those in agriculture and manufacturing industries contending with the most increases during March, though the price index slipp

Amending the export proceed conversion rule for the third time via a fresh gazette notification published last Friday (28th), the Central Bank (CB) reinstated the earlier rule of requiring exporters to convert 25 percent of repatriated proceeds with

With the onset of the pandemic and wide-scale lockdowns in many parts of South Asia in early 2020, the transshipment volumes at the Colombo Port and South Asia Gateway Terminals (SAGT) dropped sharply,

Oil and gas giant Total will be rebranded as TotalEnergies as it shifts some of its focus towards renewable energy sources.

This might sound slightly difficult to believe but it’s true. A man paid Rs.18,000 for a flight ticket and travelled as the only passenger onboard an Emirates flight from Mumbai to Dubai on May 19. Bhavesh Javeri, 40, thus enjoyed an exclusive flig

The Sri Lanka Export Development Board (EDB) is implementing an assistance scheme to enable farmers and processors in Sri Lanka to obtain organic certification as per the Sri Lanka Organic Standard - SLS 1324:2018.

Goldman Sachs said it no longer saw China as the centre of commodities pricing, reasoning the pace of demand recovery in developed markets suggested Beijing as a buyer has been crowded out by Western consumers.

Sri Lanka’s rural road network will receive an upgrade in the coming months, with the government having signed a US $ 200 million loan agreement with the Asian Development Bank (ADB), yesterday.

The borrowers affected by the expansive restrictions imposed to control the COVID-19 third wave have been granted with another round of relief, the fourth round since the outbreak of the virus in March 2020 as the Central Bank has been seeing a flood