Sri Lanka Ports Authority (SLPA) assured that the operations at Port of Colombo would return to its usual level of efficiency within this week after facing severe labour shortage at key terminals of the port with several employees testing positive fo

Diversified blue chip, Aitken Spence PLC, which has extensive interests in travel and tourism sector in Sri Lanka and overseas, saw its revenue almost halving during the quarter ended in September (2Q21) as the impact of coronavirus weighed on the gr

Since the UK is the main market for Sri Lanka’s exports to the EU region and the second largest export market after the USA, it is important for Sri Lanka to receive the same tariff preferences it was enjoying prior to Brexit when trading with the

The second phase development of the Bandaranaike International Airport (BIA) in Katunayake will kick off from November 18 with a funding of Rs.107 billion from Japan, making it the largest development project since 2014.

The earnings of listed companies plunged 58 percent year-on-year (YoY) in the quarter ended in June 2020 as businesses suffered the worst-ever disruption caused by the coronavirus pandemic while only a few in sectors such as transportation and materi

Subdued loan growth, a large deposit pile and higher credit costs weighed on Seylan Bank performance in the three months to September (3Q20), but the bank was beginning see some pick up in its net loans in a sign that the rebound in economic activiti

The second phase development of the Bandaranaike International Airport (BIA) in Katunayake will kick off from 18 November with a funding of Rs.107 billion from Japan, making it the largest development project since 2014.

Earnings from merchandise exports fell 14.9 percent in October to US$ 831.72 million compared to US$ 977. 3 million in October 2019 due to adverse impact of the second wave of COVID-19 pandemic that began in early October.

The Cabinet decision to set up a Fabric Processing Park in Eravur as a Strategic Development Project, under the Ministry of Industries was welcomed by the apparel sector which acknowledges that the establishment would help iron out issues faced in th

Sri Lanka’s economic revival has finally become visible as the year 2020 comes to an end with many companies increasing their profit levels during the second and third quarters, State Minister of Money, Capital Markets and State Enterprise Reforms

Dialog Axiata PLC (Dialog), on the request of the Ministry of Health gifted a fully functional 10-bed Intensive Care Unit (ICU) to the Homagama Base Hospital recently.

The UN Network on Migration in Sri Lanka was formally launched virtually on November 11 by the International Organization for Migration (IOM), the UN Resident Coordinator and 11 UN entities in Sri Lanka in partnership with the Government of Sri Lanka

INSEE Ecocycle Lanka (Private) Limited, which is a fully owned subsidiary of Siam City Cement (Lanka) Limited, and part of the INSEE Group initiated a vital programme recently to provide the nation with sustainable waste management solutions for used

Uber Eats announced it has partnered with grocery chains and stores to deliver essential items to residents in the Colombo district as the country grapples with a second wave of COVID-19 cases.

Sri Lanka’s export performance for the month of October witnessed a dip, primarily due to the adverse impacts of the second wave of the pandemic, both locally and globally.

The Port of Colombo has improved five spots onthe United Nations Conference on Trade and Development’s (UNCTAD) Port Liner Shipping Connectivity Index becoming the 18th best-connected port in the world in the third quarter of this year.

Advocata Institute, a Colombo-based think tank, which promotes free markets, yesterday welcomed the government’s decision to resume the stalled East Container Terminal (ECT) Project in the Colombo Port but called for improved government oversight o

Blackstone Group Inc. has agreed to acquire the glass unit of Indian conglomerate Piramal Enterprises Ltd. for about US$1 billion, according to people with knowledge of the matter.

Listed textile manufacturer, Teejay Lanka PLC, which has operations in Sri Lanka and India said it remains “cautiously optimistic” about the company’s business prospects as Sri Lanka’s situation with regard to fighting the COVID-19 pandemic c

Sampath Bank PLC’s net interest income fell during the three months to September (3Q20) due to nascent growth in new loans while the margins compressed amid falling interest rates and soaring deposits.

National Development Bank PLC (NDB) seized the economic rebound after the end of lockdowns in May as it gave more loans to generate higher interest and fee incomes in the three months to September (3Q20),

Gains from government securities (G-Secs) blunted the full impact of the pandemic on Commercial Bank of Ceylon PLC’s earnings in the September quarter (3Q20) while the bank was beginning to see some pick up in new loans.

Hatton National Bank PLC (HNB) reported lower net interest income during the three months to September (3Q20) as growth in loans was just coming through after ebbing in the previous quarter, but it wasn’t enough to offset the cost of the soaring de

Sri Lanka is identified as one of the most vulnerable middle-income countries to the economic fallout from the COVID-19 pandemic.

Further delays in getting the worldwide online payment system PayPal into Sri Lanka limits the country’s potential in facilitating inward payments, an area that requires urgent intervention, as the economy is in dire need of foreign exchange to imp

The non-bank financial institutions (NBFI) sector’s non-performing loan (NPL) ratio softened in August, from the highest levels reached in June, indicating that the worst of the troubles facing the sector are alleviating, although the current state

LOLC Holdings PLC plans to launch its digital payment mobile app iPay in Myanmar, Pakistan and Indonesia, following its success in Sri Lanka and Cambodia, as it aims to become a predominantly ‘phygital’ financial services provider by bridging the

Sri Lanka and India signed a memorandum of understanding (MoU) this week for high impact community development projects implemented in the country, at a cost of over Rs.600 million, under an Indian aid grant for next five years.

Dialog Axiata PLC’s revenues returned to pre-pandemic levels in the September quarter (3Q20) while profits rose, as the company settled debt and booked translation gains on foreign borrowings amid measures deployed to cut costs paid off.

Pfizer CEO Albert Bourla sold US $ 5.6 million worth of stock on Monday — the same day it said its and BioNTech’s coronavirus vaccine showed 90 percent effectiveness in preliminary results, which saw the company’s stock soaring almost 8 percent