The Annual General Meeting of the PATA Sri Lanka Chapter was held recently at Jetwing Colombo 07 and Jetwing Hotels Ltd Manager Operations Dmitri Cooray was elected as Chairman for the year 2022/2023.

Union Bank of Colombo PLC reported a net loss for the quarter ended on June 30, 2022 (2Q22), amid higher provisions on possible bad loans, deterioration in asset quality and higher operational costs, though the bank’s core banking operations regist

The Advocata Institute has organised the Reform Now conference to be held on August 5 and 6, 2022, on the theme ‘Let’s Reset Sri Lanka’.

The Sri Lanka Export Development Board (EDB), which turns 43 years today, is the premier state organisation for the development and promotion of exports in Sri Lanka.

The long-delayed Mannar basin M2 block (exploration and production) tender and commencement of exploration work by the selected bidder for the M1 and C1 July 2019 tender could cost Sri Lanka over a billion dollars in foreign direct investment (FDI).

The Agriculture Sector Modernisation Project (ASMP) has stepped up efforts to transform Sri Lanka’s shrimp farming industry to become a key source for foreign exchange, so that the ongoing shortage can be addressed.

The Central Bank yesterday announced the reappointment of Anthony Nihal Fonseka as a member of the Monetary Board, with effect from July 27, 2022, for a period of six years.

The Colombo Tea Auction saw the offerings decline to 5.1 MnKgs this week, from 5.4 MnKgs the previous week, which met with strong demand in the backdrop of extremely low volumes on offer.

Following the launch of the application process for Best Corporate Citizen Sustainability Awards 2022, the Ceylon Chamber of Commerce (CCC) announced the appointment of the panel of evaluators, chaired by Dr. Ananda Mallawatantri, Sri Lanka Country R

National carrier SriLankan Airlines recently bagged the prestigious 50 years of Tourism award by MATI, in recognition of its remarkable service for over half a century.

The World Bank does not plan to offer new financing to Sri Lanka, which is battling its worst economic crisis in decades, until the Indian Ocean nation has an adequate macroeconomic policy framework in place, the lender said on Thursday.

Discussions with the International Monetary Fund (IMF) have resumed with the formation of a new government, with a view to finalising the remaining policy matters that needed to be agreed upon prior to reaching the agreement, the Finance Ministry sai

Norwegian offshore wind service company Edda Wind has agreed with Colombo Dockyard PLC to terminate the construction and delivery contracts for two commissioning support operation vessels (CSOVs), global shipping and maritime news platform Splash 24/

John Keells Holdings PLC (JKH), which runs the country’s second largest privately-owned supermarket chain this week announced that it had delayed its store expansion plans due to the volatile macro conditions and elevated construction cost.

The Central Bank has issued fresh guidelines to the non-bank lenders stipulating how they must go about providing concessions to borrowers affected by the current economic crisis which is sending shockwaves across almost every sector.

The International Monetary Fund (IMF) said on Wednesday it would discuss with Bangladesh its loan request after the country became the third in South Asia to seek such support after Pakistan and Sri Lanka.

Marking a historic day for Sri Lanka, Ideal Motors yesterday launched the country’s first home-grown fully-electric mass market car named ‘Moksha,’ which will be positioned as an alternative to replace the 5.9 million two and three-wheelers on

SriLankan Airlines’ payment of US$ 6.125 million interest on its government-guaranteed US$ 175 million unsecured notes within the 30-day grace period has no impact on the bond’s long-term rating of ‘C’, Fitch Ratings said yesterday.

The decision to extend the state of emergency for a month by Parliament yesterday will further hit the tourism industry that is expected to bring in the necessary foreign exchange to Sri Lanka, as more countries could slap travel bans on Sri Lanka.

Amid the growing demand for public transport, Transport, Highways and Mass Media Minister Bandula Gunawardane is planning to seek foreign funds to electrify the Kelani Valley (KV) railway line.

In a move to promote economic development and inter-regional connectivity across the world, China launched the ambitious ‘Belt and Road Initiative’ in 2013. The expansion of the initiative includes a number of large-scale development projects in

The International Monetary Fund (IMF) yesterday said Sri Lanka should kick off debt restructuring talks with its bilateral lender China, while the island state’s government seeks a financing loan from the Washington-based fund.

Bangladesh has asked the International Monetary Fund (IMF) to start negotiations for a loan, the finance minister told the Prothom Alo newspaper, while adding that the economy was “no way in trouble”.

The weakening rupee and growing anxiety on the rising housing prices amid the soaring construction costs drew many prospective buyers into the residential apartments, helping Overseas Realty (Ceylon) PLC to record some robust top and bottom-line perf

The Treasury bill yields continued to ease for the second consecutive week this week, as bond investors and traders are digesting the relative calm in markets and rising hopes of a staff-level agreement with the International Monetary Fund (IMF).

The earnings from the tourism trade, which took a severe battering since April this year, fell to a third of what it brought prior to the full-blown economic crisis started unravelling, deepening the shortages of foreign exchange badly needed by the

SLT-Mobitel, the leading communication and technology service provider in Sri Lanka announced a national proposal to enhance critical services and sectors, and digitally empower citizens.

Bank of Ceylon was once again listed among the world’s top 1,000 banks listing, with a ranking of 800, up 53 places from the previous year, making BOC the highest ranked Sri Lankan bank in the listing’s history.

NDB Investment Bank was once again named the ‘Best Investment Bank in Sri Lanka’ at the Asiamoney Best Bank Awards for Sri Lanka 2022.

National carrier SriLankan Airlines yesterday said it paid the interest in full on its US$ 175 million bond due in 2024 using company funds.