The major shareholder of Union Bank of Colombo PLC has entered into a share sale and purchase agreement with a private equity fund owned by Nepal’s CG Corp Global controlled by billionaire Binod Chaudhary to sell its entire stake in the bank.

The government has decided to extend the deadline for filing income tax returns as the tax filing system is overloaded with the majority of people rushing to submit their tax returns before November 30 deadline.

The Commercial Bank of Ceylon has announced that its Rs.10 billion debenture issue closed within hours of opening after it was oversubscribed on the opening day (1st December 2022), in a noteworthy vote of confidence from investors.

The Ceylon Chamber of Commerce (CCC) yesterday called on the government to fully or partially divest State-owned enterprises (SoEs) that are purely engaged in commercial activities that have the capabilities to function more effectively and efficient

Central Bank (CB) Governor Dr. Nandalal Weerasinghe has emerged as the most trusted and the only person commanding the trust of the majority of Sri Lankans to carry out economic reforms in resolving the present economic crisis, according to the ‘Ec

IFC has appointed Alejandro Alvarez de la Campa as the new Country Manager for Sri Lanka and Maldives.

The Minister of Plantation Industries Ramesh Pathirana revealed that a proposal has been submitted to the Cabinet of Ministers to acquire underutilised land owned by Regional Plantation Companies (RPCs).

It is undeniable that China has been Sri Lanka’s largest bilateral creditor stemming from the economic relationship, which goes back 70 years to the Rice-Rubber Pact signed between the two countries in 1952 as one of the first trade agreements betw

Sri Lanka crossed the billion dollar milestone in earnings from tourism in October when the country earned US$ 75.6 million from the trade, which is providing a glimmer of hope for the country’s economy beset by acute shortages of foreign currency

The annual headline inflation in Colombo district for November fell for the second consecutive month to 61.0 percent from 66.0 percent in October as food prices eased off, though the prices of services remained rather sticky.

The Central Bank will soon launch a study to identify the undue cracks in the banking sector asset quality and thereby its spillover effects into banks’ regulatory capital coming from the pandemic, which became more pronounced with the economic cri

This year’s first cruise ship to dock at HIP was TUI’s Mein Schiff 5, which berthed at 8 a.m. yesterday and left for Pulau Penang Island, Malaysia at 8 p.m.

Authorities have failed to convince holiday travellers that Sri Lanka is a safe and stable destination to travel due to the absence of an effective digital communication strategy, The Hotels Association of Sri Lanka (THASL) blamed.

Singapore Airlines (SIA) will get a 25.1 percent stake in Air India and make an investment of Rs.2, 059 crore (US$ 250 million) in the Tata-owned airline as part of an agreement to merge their joint venture Vistara with the larger Indian carrier.

The yields at the Treasury bill auction continued to ease yesterday, extending the weeks-long decline in short-term yields on expectations of easing rates and easing inflation.

People’s Bank yesterday announced the results for its nine months period ended September 30, 2022, recording pre-tax profit of Rs.17.0 billion....

While voicing frustration over government’s continuous failure to resolve the critical issues faced by the tourism sector,The Hotels Association....

In a potential bellwether for the licensed finance and leasing company sector earnings, LB Finance PLC has reported lower profits...

The annual comparison made on the printed money stock and thereby the money in circulation over the last three years showed....

The Cabinet nod has been granted to extend the validity period of capital controls by further six months in order to limit the movement....

The ASPI closed in green as a result of price gains in counters such as Expolanka Holdings, Browns Investments and Melstacorp....

Sarvodaya Development Finance PLC (SDF) continued its growth streak for the first half of the financial year 2022-23, despite challenging...

Ceylinco General Insurance announced recently that the Accidental Health Insurance benefit offered to its Ceylinco VIP On The Spot ....

Nations Trust Bank has launched its next generation of digital banking services through the Nations Direct Mobile Banking App....

HNB Assurance PLC (HNBA) and its fully owned subsidiary HNB General Insurance Limited (HNBGI) reported a consolidated Gross...

HSBC Sri Lanka has appointed Kevin Green as the new Country Head of Wholesale Banking for Sri Lanka and Maldives with effect....

Understanding current market trends and realizing that the best investment returns could be derived with customized propositions...

Days after Central Bank Governor Dr. Nandalal Weerasinghe alleged that what the exporters convert into rupees doesn’t add up with what they claim their value addition is, the Central Bank disclosed the most recent data to show the disparity.

The monthly tourist arrivals to the country crossed the 50,000 mark for the first time since the political and economic crisis erupted, indicating that the country’s tourism industry is moving towards some form of revival.

At a time when fears are persisting about the negative impacts a potential domestic debt restructuring would have on the country’s banking sector, Central Bank Governor Dr. Nandalal Weerasinghe yesterday expressed confidence in maintaining the fina