Sri Lanka’s life insurance industry achieved a 16 percent year-on-year (YoY) overall growth, with the total gross written premium (GWP) topping the Rs.100 billion mark in 2020, despite the COVID-19 pandemic-infused challenges, including a low inter

While almost everyone was immersed in the pandemic, the United Kingdom (UK) stumped China to become the top investor in Sri Lanka in 2020.

As global crude oil prices hit US $ 70 a barrel, Sri Lanka is likely to make use of what is called the ‘Fuel Stabilisation Fund’ established last year when the oil prices slumped in 2020, amid the slowdown in economic activities due to COVID-19.

Brent crude futures jumped above US $ 70 a barrel yesterday for the first time since the COVID-19 pandemic began, while U.S. crude touched its highest in more than two years, following reports of attacks on Saudi Arabian oil facilities.

The tile and bath ware importers will soon be able to let out a sigh of relief, with the government agreeing to lift the import ban in the coming months, however, on the condition that the cess tax will be increased by over twofold.

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A few high net worth stock market investors met with State Minister of Money & Capital Markets and State Enterprise Reforms, Ajith Nivard Cabraal last week to discuss a sustainable way forward for the country’s capital market, which saw increased i

Sri Lanka’s Free Trade Manufactures’ Association (FTZMA) claims that the recently imposed mandatory dollar conversion rule is in breach of Sri Lanka’s obligations as an International Monetary Fund (IMF) member, and urges the Central Bank (CB) t

Labour Minister Nimal Siripala de Silva has proposed that 39,000 hectares of uncultivated and abandoned lands under the management of Regional Plantation Companies (RPCs) should be distributed among estate workers and others for cultivations.

Total outstanding credit card balance, a measure of card spend, finally turned the corner in December 2020 after four months of continuous decline since August.

National Development Bank PLC (NDB) last week expressed confidence in their ability to achieve improved growth in the immediate future, as increased focus will be on meeting the Tier I & II requirements, two areas where the entity requires attention

Fitch Ratings last week showed that finance and leasing companies (FLCs), which are part of larger financial groups are less important to the parent due to limited synergies in products they offer, modest contributions to group top and bottom lines a

The Monetary Board of the Central Bank wants licensed banks to lift their loans to the small business sector by a minimum of 20 percent in 2021, as it is not satisfied with the pace of the loan growth to the private sector, specifically to priority s

Border closures and repeated requests to stay indoors, due to the pandemic, resulted in upmarket retailer Odel PLC recording depressed resulted for the December 2020 (3Q21) quarter, the interim financial accounts released to the Colombo Stock Exchan

In its quest to significantly amplify value in the local healthcare ecosystem, Healthguard Pharmacies Limited, Sri Lanka’s leading health and wellness retail chain of the diversified conglomerate Sunshine Holdings PLC, announced the launch of ‘In

Changi Airport Group in Singapore recognised SriLankan Cargo with a Cargo Service Excellence Award, at a ceremony during the Let’s Talk Cargo 2021 conference held recently in Singapore.

The inaugural ceremony of the conversion of the Gampaha Wickramarachchi Indigenous Medical College into a university was held under the patronage of President Gotabhaya Rajapaksa, at the Bandaranaike Memorial International Conference Hall in Colombo,

The Asia Pacific Rural and Agricultural Credit Association’s (APRACA) 73rd EXCOM and 22nd General Assembly meeting took place with the participation of the 24 member countries from the Asia-Pacific region.

WindForce Limited, the pioneers in the growth and supply of renewable energy in Sri Lanka, yesterday announced an Initial Public Offering (IPO) that aims to raise Rs.3.24 billion to fund its strategic expansion and growth in the renewable energy sec

Norwegian Development Finance Institution (Norfund), which is owned and funded by the Norwegian government, yesterday entered into an agreement with Sri Lanka’s National Development Bank PLC (NDB) to invest up to a 9.99 percent stake in the bank.

Norwegian Development Finance Institution (Norfund), which is owned and funded by the Norwegian government, yesterday entered into an agreement with Sri Lanka’s National Development Bank PLC (NDB) to invest up to 9.99 percent stake in the bank.

While expressing concerns on the recent spike in market interest rates and slowdown in credit disbursements to the private sector combined with inadequate lending to productive sectors, the Central Bank (CB) vowed to continue with the “historically

Treasury Secretary S.R. Attygalle on March 1 met with members of Tile Importers Association and local tile manufacturers to discuss the industry’s way forward.

Sri Lanka’s first National Financial Inclusion Strategy (NFIS), launched yesterday aims to make financial services more accessible, efficient, and affordable for all households and businesses in the country.

The ‘Global Communication Campaign’, conceptualized to promote Sri Lanka as a tourism destination, will see its launch expedited as the island nation eyes to capitalize on first-mover advantage in being among the first countries to open doors to

Stakeholders of the local tourism sector will receive COVID-19 vaccination in the coming weeks via a special programme, an effort taken to allow the industry to return to normalcy.

ICRA Lanka Limited has assigned the issuer rating of [SL]AA- (Pronounced SL double A minus) with Stable outlook for Windforce (Pvt) Limited (WPL).

Sri Lankan shares plunged to a two-month low yesterday, further shrinking their early 2021 gains, as rising U.S. bond yields shook global stock markets.

Sri Lanka’s first National Financial Inclusion Strategy (NFIS), launched today, aims to make financial services more accessible, efficient, and affordable for all households and businesses in the country.