Sri Lanka’s vehicle registrations slumped to a new low in November, including most commercial vehicle categories, as the government continues to maintain restrictions on importation of personal vehicles.

National carrier SriLankan Airlines sees a recovery to pre-pandemic revenue levels by the end of next year as COVID-19 vaccines roll out globally and its home country loosens air travel restrictions, its chairman said.

Sri Lanka has potential for an upward revision in its sovereign rating by this time next year, as the country is on course for a strong rebound in its economic growth, boosting its reserve buffers, achieving targets set in the budget, which will rein

Fitch Ratings expects loan growth of Sri Lankan banks to accelerate from where it will end in 2020, reflecting better prospects for the banking sector and more broadly for the economy.

The construction of Sri Lanka’s first liquefied natural gas (LNG) power plant will begin construction in January, Minister of Power Dullas Alahapperuma said this week.

Sri Lanka Tourism presented a strategic online webinar targeted at industry stakeholders, on the topic ‘Building destination image for post COVID tourism revival’.

Access Engineering PLC has successfully concluded the design and construction of G+24 -storey building that accommodates 608 residential housing units in Borella.

The United States is set to add dozens of Chinese companies, including the country’s top chipmaker SMIC, to a trade blacklist yesterday, two people familiar with the matter told Reuters.

Spirent Communications PLC, the leading provider of test, assurance, and analytics solutions for next-generation devices and networks, announced that it has provided its industry-leading 5G core network testing solution Spirent Landslide to Dialog Ax

Asian shares slipped yesterday after Reuters reported that the United States is set to add dozens of Chinese companies, including the country’s top chipmaker SMIC, to a trade blacklist later in the day.

The Association of Private Hospitals and Nursing Homes (APHNH), the apex body representing all private hospitals and nursing homes in the country, reassured patients and the general public that member hospitals remain committed to providing access to

The government on Wednesday announced a foreign direct investment (FDI) target of US $ 2.5 billion for next year, a figure that is not overly ambitious, given the commitments already received, according to State Minister Ajith Nivard Cabraal.

Wealthy nations yesterday reiterated their opposition to a proposal to waive intellectual property rules for COVID-19 drugs, three trade sources said, despite pressure to make an exception to improve access to drugs for poorer countries.

The Monetary Board, with the concurrence of the Finance Minister, has promoted Assistant Governors T.M.J.Y.P. Fernando and N.W.G.R.D. Nanayakkara to the post of Deputy Governor of the Central Bank of Sri Lanka (CBSL), with effect from December 14, 20

The United States yesterday assured to continue to assist Sri Lanka’s economy, despite the decision taken by the Millennium Challenge Corporation (MCC) to withdraw the proposed US $ 480 million (Rs.89 billion) development assistance grant to the is

Renuka Holdings PLC’s rights issue concluded on Wednesday, raising Rs.1.08 billion, higher than the required 1.03 billion for complete subscription of the offer, signalling strong investor confidence.

Sunshine Holdings PLC yesterday announced a strategic merger deal with Akbar Brothers to set up the country’s first fully integrated healthcare company by merging the healthcare businesses of the two companies.

Partnering one of the nation’s largest conglomerates, Sri Lanka’s most innovative bank, HNB PLC yesterday announced the commencement of multiple long-term finance facilities totalling Rs.8.5 billion for Hayleys PLC and the group subsidiaries.

The government yesterday announced a foreign direct investment (FDI) target of US$ 2.5 billion for next year, a figure that is not overly ambitious given the commitments already received, according to State Minister Ajith Nivard Cabraal.

The government yesterday announced a special loan scheme for State and private sector employees as well as for daily wage earners to meet their needs during this Christmas and New Year festival season.

With the opening of the country for tourists, the Ministries of Tourism, Sports and Health will formulate a joint programme to develop the sports-based tourism industry, Minister of Tourism Prasanna Rantunga said.

The Chamber of Young Lankan Entrepreneurs (COYLE) yesterday opposed to the government’s move to increase the retirement age to 60 years, which was announced in the Budget 2021 presented in November. “COYLE addresses a vital factor that will adver

British American Tobacco’s (BAT) US Bio-tech arm, Kentucky Bio Processing (KBP) yesterday announced plans to commence a Phase I first-time-in-human study of its COVID-19 vaccine candidate following approval of its Investigational New Drug applicati

The holders of Sri Lanka’s sovereign bonds, who overreacted to the resurgence of the virus in October, appear to be re-evaluating their action as yields moderate and prices rise, according to the rating agency, ICRA Lanka.

Sri Lanka’s manufacturing fire power came roaring back during November after a temporary setback in October caused by the COVID-19 resurgence in key populous regions, while services activities also made quick gains, although remaining below the lev

A group of professionals with letters of credit (L/Cs) established before the ban on vehicle imports using concessionary permits with foreign suppliers is calling on the government to allow shipping of their motor vehicles.

LOLC Holdings PLC’s strategic investment arm, Browns Investments PLC (BI), yesterday acquired the controlling stake of 55.65 percent of Serendib Hotel PLC, a subsidiary of Hemas Group, for a consideration of Rs.792 million.

While the government and all sections of the business community are stepping up efforts to put the economy back on track, a senior economist warned that losing control of the COVID-19 outbreak now would lead to an economic hit that would be much seve

The Cabinet of Ministers has approved a proposal to amend the Registration of Documents Ordinance, citing that caveat ban has become a tool means of extortion for fraudulent individuals, due to the loopholes in the ordinance.

Fiscal and liquidity challenges facing non-investment-grade sovereigns have intensified in the context of uneven global economic recovery caused by the pandemic, with many emerging and frontier economies not recovering to pre-pandemic levels until 20