A tense situation erupted at the Central Bank yesterday, with some members of Joint Association of Leasing and Debt Installment Payers trying to forcibly enter the Central Bank to air their grievances ....

Moody’s has put the credit ratings of six large US banks, including Bank of New York Mellon, State Street and Northern Trust, under review for a possible downgrade. The credit ratings agency...

During the first six days of August, Sri Lanka welcomed 30, 303 tourists, almost certainly boosting the cumulative arrivals over the 800, 000 milestone so far this year with the arrivals in August 7 and 8.

China last month suffered its biggest fall in exports for more than three years, official data showed yesterday, as the world’s second-largest economy is battered by sluggish global demand and a domestic....

Local entities will have improved access to alternate dispute resolution with the Ceylon Chamber of Commerce (CCC) ICLP International ADR Centre (IADRC) entering into a cooperation agreement with the Hong Kong...

The Colombo Stock Exchange (CSE) yesterday announced the revival of the ‘Invest Sri Lanka’ series, which is indicative of Sri Lanka’s gradual recovery from the deepest economic downturn it faced....

Cabinet green-light has been granted to amend Employees’ Provident Fund (EPF) Act to ensure a minimum of 9 percent annual interest rate to members during the four-year period from 2023 to 2026 period....

The ASPI closed in green as a result of price gains in counters such as John Keells Holdings, Commercial Bank and Lanka IOC with the turnover crossing Rs. 2.7 bn. Similar....

Despite imposing heavy taxes and increased tax collection, the government budget deficit for the period end-May 2023 has increased to Rs.1,015 billion, which is a 59 percent increase against the 2022....

Inflation is one of the important macroeconomic variables that has received significant attention considering the unprecedented economic crisis that began in 2021. The rate of price growth over a specific....

SLASSCOM recently announced the appointment of its new board of directors for the year 2023/24, comprising of accomplished industry leaders and experts. Jehan Perinpanayagam...

DIMO, a leading diversified conglomerate in Sri Lanka, has partnered with HomeBiogas, a global leader in developing off-grid biogas systems based in Israel, to introduce a host of HomeBiogas products....

Leading the way in South Asia’s manufacturing sector, CBL Munchee has set a new milestone by achieving the coveted recognition as the only biscuits manufacturing entity receiving Brand Reputation through....

In the wake of exponentially more severe disruptions - from extreme weather events, to the tragedy of the Easter attacks, to the COVID pandemic, and of the upheavals caused by last year’s economic crisis - Sri Lanka is a nation in desperate need of

In line with its long-standing commitment to environmental sustainability, Aitken Spence Hotels announced the expansion of Heritance Kandalama’s biodiversity forest oasis. This significant enhancement which comes as a result of a Rs. 48 million

During a recent visit to Sri Lanka, Joseph Owolabi, the Global President of ACCA (Association of Chartered Certified Accountants), and the CEO of Rubicola Consulting, a highly regarded green finance advisory firm, showcased ACCA’s commitment to fos

Diversified conglomerate Sunshine Holdings PLC continued to demonstrate resilience amidst prevailing macro-economic conditions, reporting a top-line growth of 14 percent YoY in the quarter ended June 30, 2023 (1Q24). The Group recorded a consolidated

The Food and Agriculture Organization (FAO) delivered 8,360 metric tonnes of urea fertilizer this week to the Ministry of Agriculture for distribution during the forthcoming Maha cropping season. This has been made possible through funding from the g

Hiruras Wind Power Plant of WindForce PLC was inaugurated by Power and Energy Minister Kanchana Wijesekera, on August 06, in Mannar. Notable attendees included State Minister Indika Anuruddha, Power Ministry officials, Ceylon Electricity Board repres

As the price dynamics for tea and rubber show strong signs of a continuing downturn over the past six months, the Planters’ Association of Ceylon (PA) yesterday asserted that the plantation industry is in urgent need of “realignment”. It renewe

In its 20th annual review, Brand Finance, the world’s foremost independent brand valuation consultancy, bestowed the prestigious title of ‘Sri Lanka’s Most Valuable Brand’ upon Dialog Axiata PLC, the country’s premier connectivity provider,

The government is planning to set up a 210 MW wind power park project in Veravil, in the Kilinochchi district, with the technical assistance of the United States Agency for International Development (USAID). Sri Lanka Sustainable Energy Authority (S

An interim report by the Research Intelligence Unit (RIU) recently noted the illicit cigarette market in Sri Lanka would grow by 33 percent in 2023 to 716 million sticks, with the government losing Rs.52 billion in potential revenue this year. The r

he deficit in the budget jumped to over a trillion rupees in the first five months in 2023, from around Rs.600 billion in the same period last year, despite the sharply higher taxes, reflecting that the containing expenses in a crisis-stricken econom

REUTERS: Monetary policy transmission to the real economy in Sri Lanka is still incomplete, the Governor of the country’s Central Bank, Nandalal Weerasinghe, said at a LSEG FX Community Event yesterday. Weerasinghe said he would like to see private

Sri Lanka is hopeful of starting tea exports to Iran under the barter deal from this month onwards with formalities to operationalise the arrangement...

The Board of Directors of People’s Bank has announced the appointment of Clive Fonseka as the Chief Executive Officer/General Manager...

Pan Asia Bank announced that Jayantha Rangamuwa is stepping down from the position of Chairman of Pan Asia Bank with effect....

Sri Lanka Insurance (SLIC) yet again has outshined its own record to declare the largest life insurance bonus in the industry amounting to a staggering...

A delegation from CPA (Certified Practicing Accountant ) Australia, one of the world’s largest accounting bodies, met with the Chairman of BOI...