DIMO Lanka said it closed its head office located on Jethawana Road, Colombo 14, today, as a precautionary measure to contain the possibility of spreading COVID-19 among staffers.

C T Land Development PLC, the owner of shopping mall Majestic City, said it lost tenants during the pandemic outbreak and its immediate aftermath, as the mall’s retail occupants found their businesses being challenged by the pandemic-induced busine

DIMO Lanka said it closed its head office located at Jethawana Rd, Colombo 14 today as a precautionary measure to contain the possibility of spreading COVID-19 among staffers.

The government has no intention of going for an International Monetary Fund (IMF) bailout programme as there is no need for such a move as the country’s debt services have been effectively managed, Minister of Finance, Capital Markets and State Ent

The number of internet subscribers has grown sharply in the second quarter of 2020 as people and firms transitioned most of their work virtual, triggering more demand for hig- speed broadband internet connections in Sri Lanka.

Trade Minister Bandula Gunawardane said an export exhibition centre would be established in the country soon for exporters to display their sample products for prospective foreign buyers.

The Commercial Bank of Ceylon yesterday announced the completion of all formalities relating to the private placement of shares with the International Finance Corporation (IFC) and the receipt of US$ 50 million (Rs.9.215 billion) from the latter for

Adding to the drumbeat of warnings coming out from rating agencies on developing economies and their banking systems from the pandemic-induced economic damage, Moody’s Investors Service said risks will grow in Asia Pacific banks as asset quality de

The Special Deposit Account (SDA) introduced by the government at the height of the pandemic to collect foreign currency from Sri Lankans living here or abroad had surpassed the US$ 200 million mark by end-September.

Diversified entity, Renuka Holdings PLC, on Monday announced its plans to raise Rs.1.03 billion via a rights issue to settle debts and for future investment purposes.

The Commercial Bank of Ceylon today announced the completion of all formalities relating to the private placement of shares with the International Finance Corporation (IFC) and the receipt of US$ 50 million (Rs.9.215 billion) from the latter for 115,

The government has no intention of going for an International Monetary Fund (IMF) bailout programme as there is no need for such a thing as the debt services have been effectively managed, Minister of Finance, Capital Markets and State Enterprise Ref

The world economy is predicted to contract by -4.9 percent in 2020 (International Monetary Fund, 2020). The performance of individual countries during the COVID-19 pandemic varies widely.

During these unprecedented times, businesses need data to forecast potential outcomes and navigate market turbulence and project ‘the bottom’. If it’s a corporate or a credit situation, companies are trying to figure out how bad things will be

With 50,000 merchants already onboard, the Central Bank (CB) yesterday officially launched LANKAQR, the national QR standard for local currency payments, which would be followed by a dedicated islandwide campaign, aiming to reduce currency printing c

Deputy Governors Dr. Nandalal Weerasinghe and H.A. Karunaratne have retired from the Central Bank.

The indices at the Colombo Stock Exchange plunged yesterday with the discovery of a new COVID-19 cluster in Divulapitiya, in the Gampaha district, triggering fears that the virus, which was earlier thought to be well under control, has reached commun

The foreigners, who will invest in Sri Lankan government securities, assisted by swap arrangements to safeguard them from foreign exchange risk, will receive the marked-to-market gain, if they choose to unwind or terminate the contract prior to its m

The International Business Magazine recently named NDB Group CEO Dimantha Seneviratne as the ‘Best Banking CEO of the Year 2020’ in Sri Lanka, at its International Business Magazine Awards 2020.

The Sri Lanka Tourism Development Authority (SLTDA) yesterday announced its partnership with Australia’s Market Development Facility (MDF) to develop a research roadmap, which would pave the way for Sri Lanka to be positioned as Asia’s foremost t

BBC: A team of scientists in India has developed an inexpensive paper-based test for coronavirus that could give fast results similar to a pregnancy test.

The Securities and Exchange Commission (SEC) yesterday revealed that engineering and infrastructure company, MTD Walkers PLC is yet to settle the aggregate fine imposed for not complying with the listing rules.

Deputy Governors Dr.Nandalal Weerasinghe and H.A. Karunaratne have retired from the Central Bank.

The COVID-19 pandemic has pushed debt levels to new heights. Compared to end-2019, average 2021 debt ratios are projected to rise by 20 percent of GDP in advanced economies, 10 percent of GDP in emerging market economies and about 7 percent in low-in

The National Authority on Tobacco and Alcohol (NATA) has announced the drafting of legislation to ban the sale of single cigarettes this month. It is a welcome move, given that Sri Lanka lags behind 107 countries that have banned the sale of single s

The benchmark all share price index (ASPI) of the Colombo Stock Exchange (CSE) recorded significant gains outperforming all other main indexes around the globe during the month of September. The ASPI gained 12 percent in September and in value terms

Sri Lanka’s remaining foreign currency denominated debt due for repayment during the remainder of the year falls below US$ 500 million as the Central Bank last week settled its US$ 1.0 billion sovereign bond, which was due on October 4, including t

The Central Bank has extended relief measures afforded to licensed finance companies (LFCs) on mandatory liquidity standards by further six months to ride pandemic-induced business challenges.

The incumbent Bank of Ceylon (BOC) Chairman Kanchana Ratwatte has been appointed as the Chairman of Merchant Bank of Sri Lanka (MBSL) with effect form September 30, 2020.

Laugfs Holdings Limited is planning to commence operations of its Rs.2.5 billion Intravenous (IV) solution (saline) manufacturing plant located in the Koggala Export Processing Zone (EPZ) within next 10-12 months.