Sanasa Development Bank PLC (SDB bank) eyes to raise up to Rs.4.53 billion from the proposed issuance of 88 million new ordinary voting shares to the public via a secondary public offering (SPO), after arriving at a price of Rs.51.50 per a share.

Small and medium enterprises (SMEs) are seeking fresh relief on their debt servicing and other operational impediments, which they increasingly confront due to the business and job killing restrictions imposed by authorities to slow the spread of COV

The Planters’ Association of Ceylon (PA) marking International Tea Day yesterday requested all policymakers and stakeholders to take a holistic and practical approach towards a sustainable way forward for the industry, while ensuring that producers

The Cabinet of Ministers this week approved the proposed investment facilitation structure for the newly formed Selendiva Investments Limited, allowing the firm to setup three investment portfolios under the private — public partnership (PPP) model

Strong revenue and profit growth in the fourth quarter at both group and company levels have enabled Teejay Lanka PLC to considerably minimise the impact of the pandemic-affected first quarter on the group’s full-year results and end 2020-21 on a r

Port City Colombo, Sri Lanka’s brand-new reclaimed land, slated as the ‘Gateway to South Asia’, has now officially become the country’s first service oriented Special Economic Zone (SEZ).

Despite recording an impressive 183 percent Year-on-Year (YoY) growth in merchandise export earnings to US$ 798.9 million due to low base impact,

The Central Bank yesterday insisted on striking a balance between the COVID-19 containing measures and their implications on the livelihoods of millions of people as the authorities contend on how to deal with the virus while maintaining a working ec

The value of currency notes and coins in circulation accelerated for the first time in recent years, recording a 23.1 percent year-on-year (YoY) growth to Rs.834.2 billion in 2020, driven by unprecedented demand for physical currency, as a direct imp

The Financial Intelligence Unit (FIU) of the Central Bank said it has imposed penalties on two financial institutions, amounting to Rs.4.0 million, during the first quarter, for not complying with the anti-money laundering laws.

Haycarb PLC, the manufacturer of activated carbon from coconut shells, generated higher revenues and profits for the three months ended on March 31, 2020 (4Q21), on higher demand for its purifying products, as the company expanded market share.

The very first eco-friendly luxury boutique resort in Colombo made its debut when Waters Edge recommenced the construction of the much-anticipated 48-room project.

Hayleys PLC pulled off a stunning financial performance for the three months ended March 2021 (4Q21), as its key export companies manufacturing rubber gloves, purification products and fabrics became clear winners from the new conditions created by t

Sri Lanka absorbed more people to the inefficient public sector while the labour force or the economically active population in the country contracted, giving more headaches to the private sector, which remains hamstrung with shortages of manpower to

Piramal Glass Ceylon PLC reported robust sales and profits for the three months ended March 2021 (4Q21), amid increased demand for glass containers from industries such as food and beverages and pharmaceutical.

The shares of Chrissworld Limited, which commenced trading on the Colombo Stock Exchange yesterday, performed impressively with the share closing more than double the issue price.

Lion Brewery (Ceylon) PLC saw revenues recovering during the three months to March 2021 (4Q21) from a lower base last year, but virus resurgence and the subsequent restrictions on consumer activity have clouded the firm’s future outlook.

The World Economic Forum has cancelled its 2021 annual meeting scheduled for Singapore in three months time, the Swiss-based organisation said this week.

Singer Sri Lanka PLC reported soaring profits for the three months ended in March 2021 (4Q21) as consumers splurge on home appliances, electronics, smartphones and laptops as they went on a shopping binge in search of items to upgrade their kitchens,

The Sri Lanka Tourism Development Authority (SLTDA) together with the United Nations Development Programme (UNDP) launched an e-survey to gain inputs from industry stakeholders for the formulation of the National Tourism Policy.

Sri Lanka’s manufacturing and services activities slowed in April, in line with the seasonal pattern but the COVID-19 third wave lockdowns and other restrictions appear to be putting a serious damper on the expectations for the next three months co

Access Engineering PLC, the foremost civil engineering company in Sri Lanka, expanded its asphalt manufacturing plant operations by opening its seventh plant in Kollankuttigama in Ganewalpola, Kekirawa recently, in order to enhance its greater effici

Inflation fears, which are already making their presence felt in the consumer and supplier markets since of late could accelerate, perhaps even prompting the Monetary Board to take its foot off from the gas pedal ending the current stimulus.

Banks have begun to receive calls and e-mails from their clients, mostly from small business owners, expressing grievances and requesting relief amid the new wave of lockdowns, as consumer traffic has waned significantly.

Revenue growth at Ceylon Tobacco Company PLC (CTC) eased during the three months ended in March 2021 (1Q21), albeit recovering from the pandemic-struck December 2020 quarter but profits remained flat.

The Central Bank (CB) plans to assign supervisory ratings for all licensed banks from October 1 onwards, under the recently finalised rating model based on the Bank Sustainability Rating Indicator (BSRI), to facilitate a risk-based supervision framew

First Capital Research (FCR) recently said the current level of the massive amount of liquidity in the money market and the Central Bank’s continued support for government finances, by way of record level of Central Bank liquidity, would keep the b

Sri Lankan government debt is leading gains in Asian dollar bonds this year as investors bet that the nation will avoid defaulting on its short-term notes, with the help of a Chinese funding facility.

While the banking sector emerged nearly unscathed from the pandemic, the less talked about insurance industry came off stronger in 2020 with almost every key performance metric in the sector doing better as the slump in claims in the general insuranc