Sri Lanka’s export sector has once again shown its resilience to help keep the economy humming, as it generated near billion dollar earnings for the fifth consecutive month, albeit some slowdown was seen compared to the previous couple of months.

Export promotions are set to continue despite the resurgence of COVID-19, as the Export Development Board (EDB) has embarked on a number of initiatives to shift the efforts online.

Although Sri Lanka continues to explore avenues to expand its export market and basket, according to the International Trade Centre (ITC), the island nation has not capitalised enough on the available GSP Plus scheme to increase its foreign exchange

The Colombo Tea e-Auction platform developed by CICRA Solutions (Pvt.) Ltd has been selected as Sri Lanka’s Best National Digital Solution for World Summit Awards (WSA) 2020, under the Business and Commerce (Innovative Services) category.

The board of directors of Union Bank of Colombo PLC announced the appointment of veteran Central Banker C.J.P. Siriwardana as Independent Non-executive Director, with effect from November 2, 2020.

Tokyo Cement Company (Lanka) PLC reported higher revenues and profits for the three months ended in September (2Q21), as the quick rebound in the country’s construction sector shortly after the easing of lockdowns helped the company to recoup the l

Bain Capital has made a US $ 900 million preliminary bid for a controlling stake in Piramal Glass (Pvt.) Ltd, two people directly aware of the development said.

Export promotions are set to continue despite the ongoing pandemic as the Export Development Board (EDB) has embarked on a number of initiatives to shift the effort online.

The disappointing first quarter gross domestic product (GDP) estimates were caused by large lapses in the measurement of the economic activities, as the lockdowns stymied data collection while the traditional collection methods were unequipped to cap

Kanrich Finance Limited (KFL) will raise Rs.2 billion capital through a private placement, in order to fulfil the core capital requirement by the extended deadline of December 31, 2020.

Chevron Lubricants Lanka PLC reported a robust performance during the three months ended in September (3Q20), as the company grew sales above both its previous quarter and the year earlier levels, indicating that it managed to recoup the depressed sa

Ceylon Grain Elevators PLC (CGE) yesterday informed the Colombo Stock Exchange that four of its staffers at the feed mill business unit, located at No: 15, Rock House Lane, Colombo 15, tested positive for COVID-19, on October 31.

Milliman, Inc., a premier global consulting and actuarial firm, announced that it would begin operations in Sri Lanka, after an agreement to acquire Colombo-based Spark Actuarial Private Limited came into effect yesterday.

The Central Bank last week sent fresh guidelines to banks to be followed when classifying loans as non-performing, as there are sectors, which are still suffering from direct restrictions on their businesses, due to the pandemic.

The Fisheries Ministry has decided to increase the taxes on imported fish, dried fish and Maldive fish.

Apparel manufacturer MAS Holdings announced that its Bodyline plant in Horana is closed, following the identification of a COVID-19 outbreak in the facility.

The Export Development Board (EDB) said efforts are being taken to ensure that the operations of export industries located in the Western province continue without interruption.

Savings itself is an education. A person who has practised saving will develop many virtues, such as patience, thrift, financial discipline, order, planning, self-control, etc. without much effort. Spending less or being thrifty is not a mere concept

Moody’s Investors Service remains optimistic that the current lackluster record of foreign direct investment (FDI) flows to Sri Lanka would turn a corner with start-of-the-art affiliated projects in the Colombo Port City and the construction of inv

In a statement to allay fears about Sri Lanka’s capacity to service its debt obligations, State Minister of Money & Capital Markets and State Enterprise Reforms Ajith Nivard Cabraal said the country’s foreign reserves remain close to US$ 6 billio

The Asian Development Bank (ADB) has recognized People’s Bank by awarding it the ‘Trade Deal of the Year’ at the ADB Trade Finance Programme Awards 2020 (TFP Awards 2020) jointly with Standard Chartered Bank.

Sinhaputhra Finance PLC and National Lanka Finance PLC have sought an amalgamation of business subject to valuations and approval from Central Bank’s Monetary Board.

Inflation in Colombo district remained stable in October from a month earlier as food prices eased while non-food prices edged up.

National Savings Bank (NSB) has proposed to raise Rs.5.0 billion via an equity-like bond to bolster its additional Tier I capital and the affiliated capital adequacy levels, which are already at comfortable levels compared to the regulatory minimums.

Ceylon Cold Stores PLC (CCS) tripled its profits in the quarter ended in September (2Q21) as robust consumer spending during the period lifted the company’s performance even beyond its pre-pandemic levels.

Preliminary estimates have shown that growth in private sector credit that recovered in August had continued unabated in September.

In a special statement State Minister of Money & Capital Markets and State Enterprise Reforms Ajith Nivard Cabraal reiterated Sri Lanka’s ability to service its debt obligations.

The Board of Investment (BOI) of Sri Lanka will facilitate the BOI enterprises within and outside BOI zones to operate without interruption in the quarantine curfew-imposed areas.

The Colombo Stock Exchange (CSE) said all stock market operations would continue tomorrow and onwards despite the extension of the police curfew.

Sri Lanka’s struggling export sector is faced with an emerging challenge with freight charges reaching a new high, trimming the much-required foreign exchange fetched during the ongoing global health crisis.