Labour Minister Nimal Siripala de Silva has proposed that 39,000 hectares of uncultivated and abandoned lands under the management of Regional Plantation Companies (RPCs) should be distributed among estate workers and others for cultivations.

Total outstanding credit card balance, a measure of card spend, finally turned the corner in December 2020 after four months of continuous decline since August.

National Development Bank PLC (NDB) last week expressed confidence in their ability to achieve improved growth in the immediate future, as increased focus will be on meeting the Tier I & II requirements, two areas where the entity requires attention

Fitch Ratings last week showed that finance and leasing companies (FLCs), which are part of larger financial groups are less important to the parent due to limited synergies in products they offer, modest contributions to group top and bottom lines a

The Monetary Board of the Central Bank wants licensed banks to lift their loans to the small business sector by a minimum of 20 percent in 2021, as it is not satisfied with the pace of the loan growth to the private sector, specifically to priority s

Border closures and repeated requests to stay indoors, due to the pandemic, resulted in upmarket retailer Odel PLC recording depressed resulted for the December 2020 (3Q21) quarter, the interim financial accounts released to the Colombo Stock Exchan

In its quest to significantly amplify value in the local healthcare ecosystem, Healthguard Pharmacies Limited, Sri Lanka’s leading health and wellness retail chain of the diversified conglomerate Sunshine Holdings PLC, announced the launch of ‘In

Changi Airport Group in Singapore recognised SriLankan Cargo with a Cargo Service Excellence Award, at a ceremony during the Let’s Talk Cargo 2021 conference held recently in Singapore.

The inaugural ceremony of the conversion of the Gampaha Wickramarachchi Indigenous Medical College into a university was held under the patronage of President Gotabhaya Rajapaksa, at the Bandaranaike Memorial International Conference Hall in Colombo,

The Asia Pacific Rural and Agricultural Credit Association’s (APRACA) 73rd EXCOM and 22nd General Assembly meeting took place with the participation of the 24 member countries from the Asia-Pacific region.

WindForce Limited, the pioneers in the growth and supply of renewable energy in Sri Lanka, yesterday announced an Initial Public Offering (IPO) that aims to raise Rs.3.24 billion to fund its strategic expansion and growth in the renewable energy sec

Treasury Secretary S.R. Attygalle on March 1 met with members of Tile Importers Association and local tile manufacturers to discuss the industry’s way forward.

Sri Lanka’s first National Financial Inclusion Strategy (NFIS), launched yesterday aims to make financial services more accessible, efficient, and affordable for all households and businesses in the country.

The ‘Global Communication Campaign’, conceptualized to promote Sri Lanka as a tourism destination, will see its launch expedited as the island nation eyes to capitalize on first-mover advantage in being among the first countries to open doors to

Stakeholders of the local tourism sector will receive COVID-19 vaccination in the coming weeks via a special programme, an effort taken to allow the industry to return to normalcy.

ICRA Lanka Limited has assigned the issuer rating of [SL]AA- (Pronounced SL double A minus) with Stable outlook for Windforce (Pvt) Limited (WPL).

Sri Lankan shares plunged to a two-month low yesterday, further shrinking their early 2021 gains, as rising U.S. bond yields shook global stock markets.

The government revenues in the 11 months to November 2020 recorded a sizeable deficit compared to the same period in 2019, as the pandemic took a massive toll on business and personal incomes but the final three months of the year showed such revenue

China-backed multilateral lender Asian Infrastructure Investment Bank (AIIB) yesterday dismissed criticisms that the East Asian powerhouse is using loans to make countries fall into a “debt trap”, amid lingering concerns and distrust over Beijing

Sri Lankan shares dropped to their lowest in more than seven weeks yesterday as financial stocks slid ahead of the Central Bank’s decision on interest rates.

Despite the endless drumbeat of economic calamity about to befall due to public debt, particularly the foreign currency-denominated debt, the data showed that the government had paid down a sizeable amount of foreign debt during 2020 and also in 2021

Tourist arrivals to Sri Lanka for the month of February nearly doubled from the January figures, with a total of 3,366 travellers having visited the island nation.

First Capital Research (FCR) this week asked those who have put their money into long-term bonds to ‘hold’ them until the picture becomes clearer on how the future yields would behave, a change from their earlier recommendation to ‘sell’, in

Amidst concerns on the slow progress made over the implementation of large-scale development projects in 2020, the Cabinet of Ministers decided appoint a committee chaired by State Minister for Money & Capital Market and State Enterprise Reforms, Aji

The government borrowings from the Central Bank and the licensed commercial banks accelerated during January for the second month in a row after some slowdown seen in November last year as the State is making the most of the historically low interest

The official announcement of the initial public offering (IPO) of Windforce (Pvt) Ltd. is expected on the Colombo Stock Exchange (CSE) this week, Mirror Business learns.

Laxapana Batteries PLC is entering the renewable energy business. Having evaluated prospects in this space, the company has stated its intentions to invest over Rs. 1 billion in generating renewable energy from rooftop solar projects.

Despite opposition from planters and private sector tea factory owners, the Wages Board for Tea and Rubber Growing and Manufacturing Trade on Monday gave the final approval for the Labour Ministry to implement the Rs.1, 000 minimum daily wage for ind

Cabinet nod has been received to appoint an Inter-institutional coordination committee compromising of industry players engaged in raw rubber manufacturing and rubber-based products as a joint endeavour to develop the sector while solving current iss