Fitch Ratings views most rated Sri Lankan corporates as less vulnerable than local financial institutions to the sovereign’s financial distress. “This is because most rated corporates have a combination of strong business profiles, low leverage,

Softlogic Holdings PLC’s top line reached near pre-pandemic levels in the three months ended on December 31, 2020 (3Q21), as the group successfully navigated the pandemic through strategies aimed at capitalising on the cash heavy local consumer, wh

Prime Minister Mahinda Rajapaksa officially launched Sri Lanka’s first waste-to-energy power plant in Kerawalapitiya, yesterday.

Sri Lanka’s largest private-sector renewable energy producer with diverse energy mix, Windforce (Pvt.) Ltd plans to raise up to Rs.3.2 billion by offering a 15 percent stake in the company through an initial public offering (IPO) on the Colombo Sto

The pandemic-induced intermittent lockdowns put a damper on the financial performance of Sri Lanka’s monopoly cigarette operator Ceylon Tobacco Company PLC (CTC), with the October-December 2020 quarter (4Q20) recording lower cigarette sales.

The pandemic-induced intermittent lockdowns put a damper on the financial performance of Sri Lanka’s monopoly cigarette operator Ceylon Tobacco Company PLC (CTC), with the October-December 2020 quarter (4Q20) recording lower cigarette sales.

Failure to get global shipping industry players onboard as joint venture (JV) partners in operations and development of the Colombo Port could potentially threaten its status as a top transshipment hub in the region, as Chinese-managed Hambantota Por

Reputed business leader Suresh Kumar Shah has been appointed Chairman of Ceylon Tobacco Company PLC (CTC) with effect from 16 February 2021.

The Cabinet of Ministers this week granted approval to extend waivers on landing and aircraft parking charges at Mattala Rajapaksa International Airport (MRIA) and Bandaranaike International Airport (BIA) to attract international airlines in a bid to

Premier blue chip John Keells Holdings has regained the mantle as the most valuable company on the Colombo Stock Exchange (CSE) after losing it briefly to diversified LOLC Holdings PLC, which enjoyed a stunning rally in January.

Sampath Bank emerged largely unscathed from the pandemic-induced challenges in the three months ended December 31, 2020 (4Q20), although the lender reported lower top and bottom lines due to slower growth in loans, payment holidays on loans and narro

Oil prices hovered near 13-month highs yesterday on the back of a cold snap shutting wells in Texas, the biggest crude producing state in the United States, while a wage deal in Norway averted outages in Europe, capping gains.

Cabinet nod has been received to introduce an online pre-paid transit card for Sri Lanka’s public transport service and to implement an electronic system for charging fees, based on a proposal of Lanka Clear (Pvt.) Ltd under the National Card Schem

The government has decided to select private sector investors through a competitive bidding process to implement a 100 kW solar power generation programme within next 18 months.

Reputed business leader, Suresh Kumar Shah, has been appointed Chairman of Ceylon Tobacco Company PLC (CTC) with effect from 16 February 2021.

The rapid transition of banks and their customers on to digital platforms from the conventional brick-and-mortar banking helped the former the most, as such shift saved billions of rupees in near-term costs alone but questions linger to what extent s

Sri Lanka’s manufacturing and services activities expanded at a faster pace in January, continuing the momentum regained since November last year, as the two sectors received a boost from new businesses while the prospects for future activities fur

Leading blue-chip conglomerate Aitken Spence PLC’s non-tourism multi-industry sectors reported a profit-before-tax (PBT) of Rs.1.3 billion in 3Q21, a growth of 44 percent compared to the previous year, in the midst of challenging economic condition

Diversifying its portfolio, Resus Energy PLC, a forerunner in renewable energy, operating a number of mini hydropower stations in Sri Lanka, recently connected the first of its ground-mounted solar PV plants to the national grid.

Sri Lanka’s banking sector asset quality, measured by the gross non-performing loan (NPL) ratio, fell to the lowest level seen during 2020, finishing the year with 4.9 percent, according to the Central Bank (CB) officials.

The asset quality of Sri Lanka’s non-banking financial institution (NBFI) sector worsened in 2020, with the sector’s non-performing loans (NPLs) ratio reaching 13 percent at the end of the year, following its short-lived recovery in the third qua

Diversified, export-focussed Hayleys PLC, which has a line of strong manufacturing businesses, saw its revenues during the quarter ended on December 31, 2020 (3Q21) surging while the earnings quadrupled.

The Public Utilities Commission of Sri Lanka (PUCSL), the electricity sector regulator, has approved the power purchase agreement (PPA) to build the 300 MW Kerawalapitiya liquid natural gas (LNG) power plant in Sri Lanka, under the new chairmanship a

LOLC Holdings PLC (LOLC) recorded a PAT of Rs.45 billion for the nine months ended on December 31, 2020, after adjusting for corporate tax on a PBT of Rs.48 billion.

The Public Utilities Commission of Sri Lanka (PUCSL), the electricity sector regulator has approved the power purchase agreement (PPA) to build 300 MW Kerawalapitiya liquid natural gas (LNG) power plant in Sri Lanka under the new chairmanship and the

LOLC Holdings PLC (LOLC) recorded a PAT of Rs.45 billion for the nine months ended December 31, 2020, after adjusting for corporate tax on a PBT of Rs. 48 billion.

The gross official reserves fell by US$ 850 million during January 2021 as the Central Bank settled US$ 971 million worth of foreign currency denominated liabilities due in the month.

Sri Lanka eyes to develop the West Container Terminal (WCT) of the Colombo Port with India’s Adani Group and other parties offering 85 percent stake in the terminal.

Lanka Credit and Business Finance Ltd. (LCB Finance) expects to list its shares on the Colombo Stock Exchange (CSE) shortly.