The Monetary Board, with the concurrence of the Finance Minister, has promoted Assistant Governors T.M.J.Y.P. Fernando and N.W.G.R.D. Nanayakkara to the post of Deputy Governor of the Central Bank of Sri Lanka (CBSL), with effect from December 14, 20

The United States yesterday assured to continue to assist Sri Lanka’s economy, despite the decision taken by the Millennium Challenge Corporation (MCC) to withdraw the proposed US $ 480 million (Rs.89 billion) development assistance grant to the is

Renuka Holdings PLC’s rights issue concluded on Wednesday, raising Rs.1.08 billion, higher than the required 1.03 billion for complete subscription of the offer, signalling strong investor confidence.

Sunshine Holdings PLC yesterday announced a strategic merger deal with Akbar Brothers to set up the country’s first fully integrated healthcare company by merging the healthcare businesses of the two companies.

Partnering one of the nation’s largest conglomerates, Sri Lanka’s most innovative bank, HNB PLC yesterday announced the commencement of multiple long-term finance facilities totalling Rs.8.5 billion for Hayleys PLC and the group subsidiaries.

The new normal requires new approaches and solutions, an imperative change that must be embraced by all sections of the economy, to survive and to stay relevant.

Browns Investments PLC, the strategic investment arm of LOLC Group, has entered into a deal with China Harbour Engineering Company (CHEC) for a mixed development project to be set up at the Colombo International Finance Centre (CIFC) envisaged in the

Despite the doom and gloom forecasts by global rating agencies and the second wave of COVID-19 reaching community level, the government is optimistic that the best is within reach.

The government yesterday announced a foreign direct investment (FDI) target of US$ 2.5 billion for next year, a figure that is not overly ambitious given the commitments already received, according to State Minister Ajith Nivard Cabraal.

The government yesterday announced a special loan scheme for State and private sector employees as well as for daily wage earners to meet their needs during this Christmas and New Year festival season.

With the opening of the country for tourists, the Ministries of Tourism, Sports and Health will formulate a joint programme to develop the sports-based tourism industry, Minister of Tourism Prasanna Rantunga said.

The Chamber of Young Lankan Entrepreneurs (COYLE) yesterday opposed to the government’s move to increase the retirement age to 60 years, which was announced in the Budget 2021 presented in November. “COYLE addresses a vital factor that will adver

British American Tobacco’s (BAT) US Bio-tech arm, Kentucky Bio Processing (KBP) yesterday announced plans to commence a Phase I first-time-in-human study of its COVID-19 vaccine candidate following approval of its Investigational New Drug applicati

The holders of Sri Lanka’s sovereign bonds, who overreacted to the resurgence of the virus in October, appear to be re-evaluating their action as yields moderate and prices rise, according to the rating agency, ICRA Lanka.

Sri Lanka’s manufacturing fire power came roaring back during November after a temporary setback in October caused by the COVID-19 resurgence in key populous regions, while services activities also made quick gains, although remaining below the lev

A group of professionals with letters of credit (L/Cs) established before the ban on vehicle imports using concessionary permits with foreign suppliers is calling on the government to allow shipping of their motor vehicles.

Hit by COVID-19, Sri Lanka’s economic growth contracted by a whopping 16.3 percent in the second quarter (April-June) of this year, recording the largest ever drop recorded in the country’s history but recovered to a growth of 1.5 percent in the

LOLC Holdings PLC’s strategic investment arm, Browns Investments PLC (BI), yesterday acquired the controlling stake of 55.65 percent of Serendib Hotel PLC, a subsidiary of Hemas Group, for a consideration of Rs.792 million.

While the government and all sections of the business community are stepping up efforts to put the economy back on track, a senior economist warned that losing control of the COVID-19 outbreak now would lead to an economic hit that would be much seve

The Cabinet of Ministers has approved a proposal to amend the Registration of Documents Ordinance, citing that caveat ban has become a tool means of extortion for fraudulent individuals, due to the loopholes in the ordinance.

Fiscal and liquidity challenges facing non-investment-grade sovereigns have intensified in the context of uneven global economic recovery caused by the pandemic, with many emerging and frontier economies not recovering to pre-pandemic levels until 20

The government has decided to move ahead and establish the Kitul Development Board, while nominating kitul (fishtail palms) as a main plantation crop.

The Cabinet of Ministers this week gave the nod to kick off the construction of the proposed International Gem and Jewellery Trade Centre in Ratnapura.

Sri Lanka’s economic growth contracted by whopping 16.3 percent in the second quarter of this year, recording the largest ever drop recorded in the country’s history, the Department of Census and Statistics (DCS) today said.

LOLC Group today acquired the hospitality arm of Hemas Holdings PLC in a deal worth over Rs.600 million.

Improvement in Sri Lanka’s external sector performance continued in October as well with the trade deficit narrowing further largely due to restrictions imposed on non-essential imports, and the lower oil bill.

Suresh de Mel, a well-known entrepreneur, assumed duties as the new Chairman of the Sri Lanka Export Development Board (EDB) yesterday. He succeeds the outgoing EDB Chairman Prabhash Subasinghe, who ended his one-year tenure early this month.

The total outstanding credit card balance fell yet again for the third month in a row in October amid lack of spending opportunities with coronavirus restrictions.

Sri Lanka scored 42.1 points in the Global Knowledge Index (GKI) 2020 recording a marginal improvement in the score, though the country rank remains unchanged.

Extending higher education facilities designed to enhance employability and opportunity for Sri Lankan youth, philanthropists DhammikaPerera and Priscilla Perera launched DP Digital University, a free online education portal that offers an extensive