Premier business chamber, Ceylon Chamber of Commerce (CCC) yesterday urged the Speaker of Parliament not to delay the process of electing a new President till July 20th and to have it done with immediate effect to usher political stability in the cou

First Capital Research (FCR) joined the list of those who painted a gloomy outlook for the banking sector in the remainder of 2022, which could extend to 2023, as both debt restructuring and the deepest economic contraction are expected to reverberat

The Ceylon Chamber of Commerce yesterday announced the ‘Best Corporate Citizen Sustainability Award 2022 (BCCS Awards)’, one of the most anticipated events on the corporate calendar, for the 19th consecutive year.

Hyundai Motor Co. yesterday launched its first electric sedan, Ioniq 6, which the South Korean automaker is betting will help it grab a bigger share of the electric vehicle (EV) market dominated by Tesla Inc.

Operations at the Hambantota International Port (HIP) in connection to port services, marine services, energy hub, Port Industrial Park and Integrated logistics are running uninterrupted, despite the current fuel crisis in the country, HIP said in a

Oil prices fell yesterday as investors focused on the prospect of a large U.S. rate hike that could stem inflation but at the same time hit oil demand.

The Central Bank has seen some renewed interest in the investments in rupee treasuries by foreigners lately, buoyed by the soaring interest rates, although it remains uncertain how long it will last as the Sri Lankan economy tank by the day.

Sri Lanka’s export community called on the government to step up its efforts in bringing the much-needed stability to the country’s political system and economy, which is crumbling at a fast pace.

The ongoing economic crisis, the worst Sri Lanka has ever seen in its post-independence history, would test the country’s largest banks’ resilience, as Fitch Ratings on Monday said their asset quality, earnings, capitalisation and liquidity could

Sri Lanka’s producer prices rose by an exponential 75.9 percent in the 12 months to May 2022, rising the most from the 52.4 percent hit in April.

U.S. consumer prices surged 9.1 percent in June, the largest annual increase in more than four decades amid stubbornly high costs for gasoline, food and rent, cementing the case for another 75-basis-point interest rate hike by the Federal Reserve thi

Central Bank Governor Dr. Nandalal Weerasinghe said the spike in yields in the primary market Treasury bill yields at the auctions was an overshoot and should stabilise, provided the current uncertainties ease.

Oil edged up yesterday, a day after settling below US $ 100 a barrel for the first time since April and gains were limited by a U.S. supply report showing rising inventories and caution ahead of U.S. inflation data.

Th e unprecedented economic crisis in Sri Lanka is spiralling further, unfolding a humanitarian emergency, attacking societies at their core, claiming people’s livelihoods.

Complementing today’s preferred food and lifestyle choices, Silk Cooperation, a fast-growing frontrunner in the country’s organic and sustainable agriculture, food and beverage and nutraceuticals segment, recently declared open a state-of-the-art

CIPM Sri Lanka has inaugurated its fourth Regional Study Centre in Gampaha, strengthening access to HR programmes and professional development for individuals and students residing in nearby communities.

Sri Lanka has the potential to become a maritime hub for Russian export commodities as Russia looks to reorient exports of its key commodities away from Western markets to other markets including Asia.

As Russia remains being cut off from globally popular electronic payment systems, it invites Sri Lanka to recognise its Mir electronic payment system to boost Russian tourist arrivals to the Island nation.

Oil prices fell yesterday as fresh COVID-19 curbs in China, the world’s biggest crude importer, and fears of a global economic slowdown weighed on the outlook for fuel demand.

The Central Bank yesterday renewed its warnings issued against the usage of virtual currencies stressing that it hasn’t issued any license or authorisation to any entity or company to operate schemes involving virtual currencies, including cryptocu

The ongoing economic crisis in Sri Lanka calls for immediate assistance for the most vulnerable communities who are severely affected by the medical and food shortage.

The Treasury bill yields continued their ascent at yesterday’s bill auction held after the Central Bank raised its key rates once again by 100 basis points last week with the yields of 3-month and 6-month bills surpassing 30 percent with the benchm

A supply chain crisis triggered by the global pandemic deprived makers of PCs and smartphones to cars of computer chips needed to make their products.

Sri Lanka’s desperate attempts in search of solutions to come out of its present crisis have been prolonged due to latest developments that intensified its political instability following the resignation of President Gotabaya Rajapaksa.

Sri Lanka’s Central Bank Governor signalled yesterday he would stay in the job but warned that prolonged political instability in the country may delay progress on negotiations with the International Monetary Fund (IMF) for a bailout package.

Sri Lanka welcomed over 14,500 international visitors for the first 10 days of July, although the country continues to witness a massive economic and social upheaval.

Issuing a statement, the Joint Chambers yesterday sought the smooth transition of power in accordance with the constitution, following the announcements of resignations by President Gotabaya Rajapaksa and Prime Minister Ranil Wickremesinghe.

The bids received for the three-year bond topped an unprecedented 43.99 percent at the bond auction held yesterday.

United Arab Emirates carrier flydubai has suspended operations to Colombo until further notice, a company spokesperson told Reuters by email yesterday.

The new administration that will be in place following the resignations of President Gotabaya Rajapaksa and Prime Minister Ranil Wickremesinghe should continue the engagement with the International Monetary Fund (IMF), “which is the primary way to