The hefty provisions made for possible loan defaults in 2020 are expected to decline this year amid strengthening of small businesses and higher loan growth.

Stock market regulator, the Securities and Exchange Commission (SEC) maintains that any measures towards segregating Chairman and CEO roles will only be taken after detailed discussions and broad consensus among relevant stakeholders.

Agriculture Minister Mahindananda Aluthgamage on Saturday inspected the Ambul banana cultivation produced for the export market in Anuradhapura Rajanganaya from Yaya 1 to Yaya 5 in the Anuradhapura District.

Officials from Beirut and Baghdad signed a preliminary agreement Friday that would see Lebanon trade its medical expertise for Iraqi fuel supplies, Lebanese state media reported.

The Hotels Association of Sri Lanka (THASL) yesterday issued the following message to all Sri Lankans celebrating Easter.

The proposed Inland Revenue Amendment Bill, for which the gazette was issued in mid-March to amend the Inland Revenue Act No. 24 has been challenged by a senior tax professional, and the petition is listed to be taken up for hearing at the Supreme Co

Borrowings by the State from the Central Bank and licensed commercial banks plunged in February, which could be a sign of improving government revenues by way of taxes as economic activities are increasingly becoming normalised as virus scare recedes

Banking sector return on equity (RoE), a key ratio that is used to gauge the attractiveness of the sector by investors, made an about turn in 2020 as the sector delivered robust earnings defying the pandemic-induced challenges.

Prime Land Residencies Ltd, the condominium property arm of Prime Group, recently celebrated a milestone achievement upon the completion of its 35th property project.

Microsoft India Chief Lathika Pai this week expressed confidence in Sri Lanka embracing a digital economy with the right policy set in place as the island nation is currently at an inflection point.

Making good on the proposal made in the Budget 2021, the government is gearing to introduce the ‘Special Goods and Services Tax,’ which will rationalise various taxes into one, while easing tax administration as well as collection.

Sri Lanka Tourism has been recognised for its innovative ‘Bio Bubble’ concept by the International Trade Tourismus-Börse Berlin (ITB), which is one of the largest trade shows in the world.

The Cabinet of Ministers this week approved a proposal to allocate 16 land plots in nine Industrial Estates under the Ministry Industries for investors to set up new industries.

First Capital Research (FCR) this week said foreign currency swap Sri Lanka entered with China had eased the rising bond yields, in an about turn from their previous expectations that the ascent in the yields would continue.

Credit card spending which turned a corner in December after four months of slippage in outstanding balances, continued to recover, though at snail pace, indicating that people have begun to swipe their cards, which was not allowed last year due to p

Six Sri Lankan trade unions and workers’ organisations have filed a complaint with the International Finance Corporation (IFC) of the World Bank Group, raising the issues in the due diligence and labour rights components of the Environment and Soci

Inflation in Colombo rose sharply in March compared to February, as the food prices continued their climb while the government scrambles to keep the prices of essential food items in check.

Prime Lands Group’s 100 percent-owned subsidiary Prime Lands Residencies Ltd (PLR) is gearing to raise up to Rs.1.95 billion via an initial public offering (IPO) on the Colombo Stock Exchange (CSE).

The WindForce Limited initial public offering (IPO) of Rs.3.2 billion, the largest IPO announced at the Colombo Stock Exchange (CSE) since 2011, has attracted applications amounting to a value of Rs.25.7 billion, the Colombo Stock Exchange (CSE) said

The Securities and Exchange Commission (SEC) of Sri Lanka appears determined to move ahead with segregating the roles of the chief executive officer (CEO) and chairperson being performed by the same person in the listed entities on the Colombo Stock

Sri Lanka is expected to unleash a burst of economic activity this year, as the pandemic fades and the people and businesses are resuming activities that were put off last year, possibly elevating the country again into the upper-middle-income level,

The Central Bank has continued to purchase dollars from the domestic foreign exchange market for the second consecutive month in March, despite the recent pressure on the currency, as the Central Bank collects non-borrowed assets to shore up its fore

Sri Lankan shares closed lower yesterday, weighed down by losses in industrial stocks and heavyweight conglomerate Expolanka Holdings.

Top lawyer Dr. Harsha Cabral has been appointed as the Acting Chairman of Hatton National Bank PLC (HNB), following the resignation of top professional Dinesh Weerakkody as the bank’s Chairman with effect from March 30, 2021.

Sri Lanka’s largest private lender Commercial Bank of Ceylon PLC yesterday announced the appointment of Thushara Wijewardena to its board of directors as a Non-Executive Independent Director with effect from March 31, 2021.

Cabinet nod has been granted for Department of Motor Traffic (DMT) to obtain service facilities from State-owned Sri Lanka Telecom (SLT) to implement a pre-booking system with SME alerts for the public at the Head Office and all other district office

The Cabinet of Ministers has granted approval for Sri Lanka Land Development Corporation (SLLDC) to implement identified flood minimising projects worth of Rs 2.8 billion in risk-prone Colombo and its suburbs as well as in other areas in the country

The Cabinet of Ministers has granted the approval to setup a cyclotron-based radiopharmaceuticals production center to manufacture radioactive dye Fluorodeoxyglucose (18F-FDG) that is used in positron emission tomography (PET) and computerised tomogr

The Cabinet nod has been received to establish an independent and transparent mechanism to regulate the country’s petroleum industry under the Ministry of Energy and Sri Lanka Public Utilities Commission (PUCSL).

State-owned National Savings Bank (NSB) yesterday announced its financial performance for the year 2020, which was characterised by strength and resilience, despite the heightened uncertainty due to the impact of the COVID-19 pandemic.