Prime Minister Mahinda Rajapaksa officially launched Sri Lanka’s first waste-to-energy power plant in Kerawalapitiya, yesterday.

Sri Lanka’s largest private-sector renewable energy producer with diverse energy mix, Windforce (Pvt.) Ltd plans to raise up to Rs.3.2 billion by offering a 15 percent stake in the company through an initial public offering (IPO) on the Colombo Sto

The pandemic-induced intermittent lockdowns put a damper on the financial performance of Sri Lanka’s monopoly cigarette operator Ceylon Tobacco Company PLC (CTC), with the October-December 2020 quarter (4Q20) recording lower cigarette sales.

Reputed business leader Suresh Kumar Shah has been appointed Chairman of Ceylon Tobacco Company PLC (CTC) with effect from 16 February 2021.

The Cabinet of Ministers this week granted approval to extend waivers on landing and aircraft parking charges at Mattala Rajapaksa International Airport (MRIA) and Bandaranaike International Airport (BIA) to attract international airlines in a bid to

Premier blue chip John Keells Holdings has regained the mantle as the most valuable company on the Colombo Stock Exchange (CSE) after losing it briefly to diversified LOLC Holdings PLC, which enjoyed a stunning rally in January.

Sampath Bank emerged largely unscathed from the pandemic-induced challenges in the three months ended December 31, 2020 (4Q20), although the lender reported lower top and bottom lines due to slower growth in loans, payment holidays on loans and narro

Oil prices hovered near 13-month highs yesterday on the back of a cold snap shutting wells in Texas, the biggest crude producing state in the United States, while a wage deal in Norway averted outages in Europe, capping gains.

Cabinet nod has been received to introduce an online pre-paid transit card for Sri Lanka’s public transport service and to implement an electronic system for charging fees, based on a proposal of Lanka Clear (Pvt.) Ltd under the National Card Schem

The government has decided to select private sector investors through a competitive bidding process to implement a 100 kW solar power generation programme within next 18 months.

Sri Lanka’s manufacturing and services activities expanded at a faster pace in January, continuing the momentum regained since November last year, as the two sectors received a boost from new businesses while the prospects for future activities fur

Leading blue-chip conglomerate Aitken Spence PLC’s non-tourism multi-industry sectors reported a profit-before-tax (PBT) of Rs.1.3 billion in 3Q21, a growth of 44 percent compared to the previous year, in the midst of challenging economic condition

Diversifying its portfolio, Resus Energy PLC, a forerunner in renewable energy, operating a number of mini hydropower stations in Sri Lanka, recently connected the first of its ground-mounted solar PV plants to the national grid.

Sri Lanka’s banking sector asset quality, measured by the gross non-performing loan (NPL) ratio, fell to the lowest level seen during 2020, finishing the year with 4.9 percent, according to the Central Bank (CB) officials.

The asset quality of Sri Lanka’s non-banking financial institution (NBFI) sector worsened in 2020, with the sector’s non-performing loans (NPLs) ratio reaching 13 percent at the end of the year, following its short-lived recovery in the third qua

Diversified, export-focussed Hayleys PLC, which has a line of strong manufacturing businesses, saw its revenues during the quarter ended on December 31, 2020 (3Q21) surging while the earnings quadrupled.

The Public Utilities Commission of Sri Lanka (PUCSL), the electricity sector regulator, has approved the power purchase agreement (PPA) to build the 300 MW Kerawalapitiya liquid natural gas (LNG) power plant in Sri Lanka, under the new chairmanship a

LOLC Holdings PLC (LOLC) recorded a PAT of Rs.45 billion for the nine months ended on December 31, 2020, after adjusting for corporate tax on a PBT of Rs.48 billion.

Sri Lanka eyes to develop the West Container Terminal (WCT) of the Colombo Port with India’s Adani Group and other parties offering 85 percent stake in the terminal.

Lanka Credit and Business Finance Ltd. (LCB Finance) expects to list its shares on the Colombo Stock Exchange (CSE) shortly.

Billionaire Elon Musk’s Tesla Inc. will set up an electric-car manufacturing unit in the southern Indian state of Karnataka, according to a government document seen by Reuters on Saturday.

Lion Brewery Ceylon PLC (LION) recorded performance for the quarter ended December 31, 2020 (3Q21) although the lockdowns due to second wave of COVID-19 in early October disrupted supply chains and local consumer appetite.

Hemas Holdings PLC delivered a strong financial performance for the three months ended December 31, 2020 (3Q21), although the October lockdowns slowed some momentum in consumer business, while the group divested its leisure business during the quarte

Distilleries Company of Sri Lanka PLC continued to buffer Melstacorp PLC’s financial performance during the three months ended December 31, 2020 (3Q21), but the businesses under the diversified category, including tourism-heavy Aitken Spence Holdin

After an extremely choppy ride on Thursday, which caused much consternation among investors, the Colombo Stock Exchange (CSE) bounced back remarkably well yesterday, both indices recording sharp gains, regaining the lost ground.

Top textile manufacturer Teejay Lanka PLC has reported a profit before tax of Rs.951.8 million and a net profit of Rs.778.4 million for the third quarter of 2020-21, achieving a growth of 12 percent and 8 percent, respectively, over the corresponding

D. Samson Industries (Pvt.) Ltd, a subsidiary of DSI Samson Group (Pvt.) Ltd, enters into synthetic leather manufacturing by acquiring a state-of-the-art production facility in Katana, in the Negombo precincts, during a crucial period in which the go

The export earnings recovered in December 2020 from the brief set back from the lockdowns set in since October, due to the second wave of COVID-19, as the gradual reopening of the key export markets in Europe and the United States is boding well for

The United Nations World Food Programme (WFP) and Government of Sri Lanka welcome a funding of CAD 1 million (Rs.151 million) from Global Affairs Canada, to help smallholder farmers cultivate nutritious crops for the National School Meal Programme.