Despite the massive customer deposit pile-up at banks, thanks to COVID-19 restrictions, Sri Lanka’s licensed finance companies have failed to have a piece of the pie or at least to cling on to their existing deposit base.

The writ application filed by the Centre for Environmental Justice against the Colombo Port City Project in 2015 was dismissed by the Court of Appeal, yesterday.

The International Air Transport Association (IATA) yesterday expressed optimism over the Asia-Pacific leading the way in navigating through the turbulent times and said the region would show governments across the world the recovery path to follow.

The International Air Transport Association (IATA) in a resolution yesterday called on governments across the world to reopen borders for travel, a move which would be possible by employing the association’s proposed systematic testing of internati

The Asian Development Bank (ADB) and Government of Sri Lanka (GOSL) yesterday signed a US $ 165 million loan agreement to provide immediate financing support for small and medium-sized enterprises (SMEs), which have been severely affected by the coro

The Hotels Association of Sri Lanka (THASL) in a statement yesterday hailed Budget 2021 as a “pragmatic financial road map”, while praising the government’s moves to encourage local businesses via import substitution and for maintaining a stabl

Sri Lanka’s tea export volumes declined by 10.4 percent year-on-year (YoY) to 23.1 million kgs in October, despite a 2.1 percent YoY improvement in tea production in the month, according to the Tea Exporters Association (TEA).

While descending interest rates are generally considered a bane for banks, the same phenomenon acted as a blessing for the sector bringing in billions worth of capital gains on government treasuries they held, potentially offsetting any negative impa

Sri Lanka’s national prices descended to a six-month low in October predominantly on some ease in food prices and non-food prices over the same month in 2019, the latest data on inflation measured by the National Consumer Price Index showed.

With Sri Lanka’s tourism industry grappling to stay afloat amidst the ongoing COVID-19 pandemic, small and medium enterprises (SMEs) are scrambling to find ways to remain competitive and resilient.

Bolt, the leading European transportation platform committed to make urban travel easier, quicker and more reliable yesterday announced its entry to the Sri Lankan market.

Sri Lanka’s hospitality sector recently saw the addition of a new luxury property to its portfolio with DoubleTree by Hilton opening the first phase of Weerawila Rajawarna Resort.

Sri Lanka’s MAS Holdings put the island nation under fresh spotlight once again by receiving the ‘most influential’ innovators award in South and South East Asia by Clarivate, a global leader in providing solutions to accelerate the innovation

The Asian Development Bank (ADB) has allocated US$ 220 million worth of funds to build Sri Lanka’s health system capacity and resilience under the recently unveiled country operations business plan (COBP) for 2021–2023.

The controlling shareholder of leading manufacturer of bituminous products Industrial Asphalts (Ceylon) PLC (ASPH), G. Ramanan has not subscribed for the company’s recent rights issue concluded in September.

The country’s inbound tour operators yesterday expressed concerns over the government’s move to amend the Tourism Act, which would eventually lead to the private sector players having no involvement in influencing or taking part in the industry d

The government eyes US$ 2.4 billion potential increase in official worker remittance inflows per annum as COVID-19 pandemic disrupts the operations of informal and illegal remittance channels forcing Sri Lankan migrant workers rely solely on official

The budget proposal to effect consolidation in the highly fragmented finance and leasing company (FLC) sector is expected to spark a wave of mergers and acquisitions (M&A) during the next two years, as the government proposed to give tax credit to th

Lion Brewery (Ceylon) PLC returned to its peak performance in the three months ended in September (2Q21), predominantly cushioned by robust exports and partly by increased domestic consumption, despite the absence of a tourism sector running at full

As Sri Lanka is gearing up to witness the establishment of an industrial zone dedicated to pharmaceutical manufacturing, the Board of Investment (BOI) expressed confidence in the sector paving the way for export earnings to leapfrog in the near futur

Defying the odds, Bank of Ceylon (BOC) registered a growth of 25 percent in its loan book in the nine months to September— most in the recent past— reflecting that the bank has been witnessing pandemic-fuelled growth sparked by low interest rates

Hot on the heels of selling an equity-like bond to raise Rs.5.0 billion a few months ago, Bank of Ceylon (BOC) once again is offering a similar featured bond to raise another Rs.10.0 billion to bolster its capital.

The Ministry of Agriculture has agreed to provide 5,000 acres of State land to Avant Agro (Pvt) Ltd., a subsidiary of Avant Garde Maritime Services (Pvt) Ltd headed by Major (Retd) Nissanka Senadhipathi, to cultivate maize, a statement issued to medi

Two transshipment feeder vessels, which were idling at the Colombo Port anchorage for approximately seven days due to increased congestion, called at the Hambantota International Port (HIP) last week.

Rigid Tyre Corporation (Pvt) Ltd built with an investment of US$ 250 million is slated for opening in mid-January 2021.

The Central Bank on Saturday said one of its employees tested positive for COVID-19 on November 19.

Two recent surveys released by Facebook revealed how both Small and Medium Businesses (SMBs), as well as consumers in Sri Lanka, have increased their use of digital tools and social media since the COVID-19 outbreak.

As from today (November 21), travellers from Sri Lanka will no longer be required to self-isolate on arrival in England, Wales and Northern Ireland.

The President of the European Commission Ursula von der Leyen said yesterday there had been better progress in recent talks on a post-Brexit trade deal, but more work is needed.

General Motors said Thursday it will boost investment in electric and autonomous vehicle technology by US$ 7 billion through mid-decade as it accelerates a technology race with Tesla and other automakers.