Digital Reality (Pvt.) Ltd, a joint venture between St. Anthony’s Property Developers (Pvt.) Ltd (SAPD) and Dialog Broadband (Pvt.) Ltd, announced the appointment of highly respected banking veteran, technologist and business transformation special

The government is preparing to resume direct flights between Jaffna and Chennai, which were suspended due to the COVID pandemic.

In a fresh gazette on Wednesday, the Central Bank (CB) has granted a 14-day period to exporters and the banking sector to convert 25 percent of repatriated export proceeds, after considering the practical issues faced by the banking sector in convert

The sixth EY Future Consumer Index, a survey of 14,500 consumers across 20 countries fielded in January-February 2021, finds that consumers are more worried than four months ago about their health, their families and their futures.

Despite rising metal prices in tandem with the recovery in global demand, ICRA Lanka Limited said that local importers could hold the prices of metal through the medium-term as they might have built loss absorption capacity, as they didn’t revise d

Sri Lankan-born businessman Benedict Sirimanne, who leads California-based CSDS Aircraft Sales & Leasing Inc. is planning to commence international charter flight operations from Sri Lanka under ’Air Colombo’ brand.

Hotel sector employees have expressed dissatisfaction over the ongoing Covid-19 national vaccination drive, as no progress been made despite the industry being told they are listed as priority group.

HSBC recently joined People’s Bank in assisting the Sri Lankan government’s efforts to slowdown the spread of COVID-19 and accelerate the country’s return to normalcy.

Norges Bank Investment Management, which manages Norway’s US$ 1.3 trillion Government Pension Fund Global, saw a reduction in its equity investments in Sri Lanka for the first-time since the fund’s entry into the country in 2015.

Wages in Sri Lanka are continuing to make gains while general consumer prices remain subdued making the wage earners economically better off. However, higher wages have made businesses and industries to scramble to find affordable labour to stay comp

Despite the emergence of second COVID-19 wave, Colombo’s residential real-estate market saw the sales growth momentum begin in the third quarter persisting throughout the fourth quarter of last year backed by increasing investor confidence and the

Sri Lanka’s technical and vocational education and training (TVET) took a massive hit during the COVID-19 pandemic, a study by the Asian Development Bank (ADB) has revealed.

China has approved a 10 billion yuan currency swap (US $ 1.5 billion) to Sri Lanka, Money and Capital Market and State Enterprise Reforms State Minister Ajith Nivard Cabraal said.

Sri Lankan shares ended lower yesterday, driven by a slide in financial services and consumer discretionary stocks.

The Rs.1,000 minimum daily wage for tea and rubber plantation workers has come into effect from the fifth of this month, the Labour Ministry announced yesterday.

In back-to-back reports on the banking sector issued within days, Fitch Ratings peddled fears over the ability of the Sri Lankan banks to raise foreign funds for lending purposes, as they believe that Sri Lanka’s sovereign rating cut in December 20

While expressing willingness to cooperate in a forensic or technical audit on cross-border transactions, Sri Lanka’s licensed foreign employment agencies this week accused Labour Minister Nimal Siripala de Silva of conspiring to jeopardise the coun

The Cabinet of Ministers this week granted approval to expedite the setting up of the proposed pharmaceutical zone in Millewa in Horana.

Sri Lankan shares ended modestly lower yesterday, led by a decline in industrial stocks.

Fitch Ratings said the two State-owned licensed commercial banks—Bank of Ceylon (BOC) and People’s Bank—would continue to lead credit growth compared to their closest private lending giants—Commercial Bank, Hatton National Bank and Sampath Ba

Money & Capital Market and State Enterprise Reforms State Minister Ajith Nivard Cabraal yesterday said Sri Lanka’s gross domestic product (GDP) growth is expected to be around 3.5 percent in the first quarter of 2021 and minimum of 20 percent in th

The Cabinet of Ministers’ nod has been received to form a new company as a fully-owned subsidiary of Lanka Salu Sala Limited to promote other local products including batik, handloom textiles and local apparel products directly, by setting up a str

Celebrating the International Women’s Day, IFC, a member of the World Bank Group, yesterday joined the Colombo Stock Exchange (CSE) for the sixth consecutive year to ‘Ring the Bell for Gender Equality’.

The Colombo Stock Exchange (CSE) yesterday retracted two circulars issued in January and February, which asked the stockbrokers to furnish their credit information on a weekly basis, changing from the usual practice of furnishing such information eve

Sri Lanka’s life insurance industry achieved a 16 percent year-on-year (YoY) overall growth, with the total gross written premium (GWP) topping the Rs.100 billion mark in 2020, despite the COVID-19 pandemic-infused challenges, including a low inter

While almost everyone was immersed in the pandemic, the United Kingdom (UK) stumped China to become the top investor in Sri Lanka in 2020.

As global crude oil prices hit US $ 70 a barrel, Sri Lanka is likely to make use of what is called the ‘Fuel Stabilisation Fund’ established last year when the oil prices slumped in 2020, amid the slowdown in economic activities due to COVID-19.

Brent crude futures jumped above US $ 70 a barrel yesterday for the first time since the COVID-19 pandemic began, while U.S. crude touched its highest in more than two years, following reports of attacks on Saudi Arabian oil facilities.

The tile and bath ware importers will soon be able to let out a sigh of relief, with the government agreeing to lift the import ban in the coming months, however, on the condition that the cess tax will be increased by over twofold.

Sri Lanka’s Free Trade Manufactures’ Association (FTZMA) claims that the recently imposed mandatory dollar conversion rule is in breach of Sri Lanka’s obligations as an International Monetary Fund (IMF) member, and urges the Central Bank (CB) t