Losses of State-owned enterprises (SOEs) spiked to Rs.10.4 billion in the eight months to August, 2020, from a combined loss of Rs.1.1 billion in the whole of 2019, predominantly due to the earnings swoon in key State-run banks and the insurance comp

Credit card spend continued to slide for the fourth consecutive month in November as the virus scare continued to haunt people’s lives from going about their normal consumption patterns from shopping trips to dining outs to holidaying.

Sri Lanka is contemplating to open its airports for both local and foreign travellers from end of January after a 10-month long closure, the Ministry of Aviation and Investment Zone Development announced yesterday.

Prices of turmeric are expected to come down from their current astronomical levels by at least mid-February as local growers are expected to release their first batch of harvest into the market, which could meet at least 75 percent of the national r

Eyeing to capitalize on the unified brand equity as well as to support the government’s efforts to create a technology driven-economy, Sri Lanka Telecom (SLT), joining forces with its subsidiary and mobile arm, Mobitel, recently unveiled their unif

The current managers of the Sri Lankan economy have every reason to avoid going back to the International Monetary Fund (IMF) as preconditioned austerity measures and fiscal tightening that will typically accompany such a package could further suffoc

CNBC: Singapore and Vietnam have been successful in controlling the coronavirus in 2020 and are likely to keep the situation contained in 2021, an economist said this week.

Credit to the private sector continued to grow in November defying pandemic related restrictions, but it briefly lost some momentum as businesses entered the year-end holiday season.

Sri Lanka will open its airports for both local and foreign air travelers from by end January after over 10 months of closure, the Ministry of Aviation announced today.

Headline inflation, as measured by the year-on-year (YoY) change in the Colombo Consumer Price Index (CCPI) increased marginally to 4.2 percent in December 2020 from 4.1 percent in November 2020.

Britain and Vietnam signed a free trade agreement this week, Vietnam’s trade ministry said, days before Britain completes its transition out of the European Union.The deal that will for Britain replace the existing EU-Vietnam Free Trade Agreement (

Hambantota International Port (HIP) marked its third year in operation with a donation of 100 tree saplings.

A fleet of 273 buses belonging to Sri Lanka Transport Board (SLTB) which were taken out of service due to dilapidation were repaired and re-added to passenger transportation on Thursday (31) at an event held at the Galle Face Green under the patronag

The Commercial Bank of Ceylon has won the Banking and Financial Services Category Award presented by Sri Lanka Association for Software Services Companies (SLASSCOM) at its Robotic Process Automation (RPA) Awards Conference 2020.

Since the beginning of the pandemic when countries and individuals were pushed to seek virtual alternatives to doing business and life in general, the Marketing Forum of Sri Lanka Association for Software Services Companies (SLASSCOM) was proactive i

The inauguration of Sri Lanka Insurance business operations for year 2021 took place yesterday at Sri Lanka Insurance head office with the participation of Chairman, corporate management and the staff of SLIC.

National Savings Bank (NSB) ceremoniously commenced the first working day of the New Year, at the bank’s head office premises in Kollupitiya yesterday.

Although Sri Lanka has provided universal free education since 1939, around one-fifth of poor children drop out of school after the age of 14 years and another two-thirds after the age of 16 years.

The Sri Lankan stock market ended 2020 on a positive note yesterday, marking a year in which the Colombo Stock Exchange (CSE) has seen indices indicate noteworthy resilience and attract record-breaking levels of trading activity.

To mark its 70th anniversary, the Central Bank has issued an uncirculated commemorative coin in the denomination of Rs.20, with the following key features.

Dispelling the politically-motivated negative comments being perpetuated in the market that the state banks are facing difficulties in conducting their international and trade-related banking activities, People’s Bank yesterday asserted that not a

Milco Private Limited managed to end its streak of losses in 2020, as the state-run dairy producer and marketer has reported a profit exceeding Rs.400 million for 2020, while the management is hopeful of increasing it to a billion rupees in the comin

The local construction sector is gearing to embrace 2021 with a positive mindset, given the emphasis it received in the 2021 budget but the industry expressed concerns if the plans would be implemented as promised, to give the stakeholders the much s

The government has announced plans to amend Employees’ Provident Fund (EPF) Act No. 15 of 1958, to expedite the recovery of approximately Rs.12 billion worth of dues owed by employers to the fund over the years, as the current provisions under the

The troubled construction major, MTD Walkers PLC, yesterday said a share sale and purchase agreement entered into with its Malaysian parent was terminated, making the company’s future prospects bleaker.

Stakeholders of Sri Lanka’s tourism industry yesterday assured that the ongoing pilot project carried out as a first step towards re-opening the country for tourists, is going ahead as planned despite some expected hiccups, for which appropriate co

The Hotels Association of Sri Lanka (THASL) yesterday welcomed the arrival of the first group of tourists to Sri Lanka since the country reopened its borders for tourism this week.

The yields of international sovereign bonds (ISBs) issued by Sri Lanka continue to moderate as investors appear to be re-evaluating their overreaction to the resurgence of COVID-19 and are now beginning to look past the market turmoil brought in by t

Prof. Lalith Gamage has been appointed as the Chairman of ICTA, taking the place of Jayantha De Silva, who will be leaving to take up the post of Secretary to the newly created Ministry of Technology.

The government has decided to increase the number of PCR tests conducted daily in the country to identify the COVID-19 infected to facilitate overseas arrivals.