The Asian Development Bank (ADB) forecasts a 21.9 percent drop in worker remittance inflows to Sri Lanka this year, under the worst-case scenario, driving many remittance recipient households into poverty.

Credit card spending, a gauge for consumer spending of an economy, showed a robust increase in June, in a sign that the economic activities are gaining momentum faster than expected after the coronavirus sapped consumer spending, as people were force

The Securities and Exchange Commission (SEC) has announced the introduction of a unit trust-based real estate investment trust (REIT) framework to the Colombo Stock Exchange (CSE).

Sri Lanka’s inflation measured by the Colombo Consumer Price Index (CCPI) increased in July from a month ago, driven mostly by the price increases in non-food items such as healthcare, clothing and transport, as people who were mostly confined to t

Vidullanka PLC, a forerunner in the Sri Lankan renewable energy industry, has taken its second gigantic leap in Africa by commissioning the 6.5MW Bukinda Small Hydropower Project in Uganda.

HSBC yesterday reported a 69-percent slump in net profit, joining a number of major banks whose earnings have been slammed by the coronavirus fallout.

Sri Lanka Telecom - the national ICT service provider and Epic Technology Group – one of the leading digital technology solution providers in the region, proudly launched the Helaviru Digital Economic Center Online Platform for the first time in So

The WTO’s bid to pick an acting chief before September has been complicated by US ‘politicisation’ of what should have been be a straightforward process, a diplomatic source lamented this week.

The Sri Lanka Institute of Marketing (SLIM) held its 50th Annual General Meeting on June 26th at Marino Beach Hotel, adhering to the health and safety guidelines given by the government.

The Japanese government has donated a large shipment of canned fish, weighing 388MT and worth JPY 300 million (Rs. 519 million) to the United Nations World Food Programme (WFP) and the Government of Sri Lanka, to meet the protein needs of school chil

Citra Lab has facilitated design thinking approaches for the Presidential Task Force (PTF) for economic revival and poverty alleviation, to introduce practical tools and approaches to tackle larger development issues which are to be taken on by the P

The German government has allocated additional funds amounting to 2.05 million Euros to Sri Lanka to support its efforts in facing the greater challenges posed by the current global pandemic.

The Central Bank (CB) yesterday said several media reports containing certain macroeconomic projections have been erroneously attributed to them.

Asian markets struggled and the dollar extended losses yesterday as data showing the US suffered its worst quarter on record highlighted the impact of the virus on the global economy.

The tripartite agreement applicable to all industries that was extended till September is likely to be further extended as private sector businesses that were dealt a crippling blow by the pandemic have appealed for further assistance in dealing with

The Ceylon Motor Traders Association (CMTA), the only trade association in Sri Lanka that represents automotive manufacturers through their local importers, yesterday urges the government to provide a clear direction on the period of the vehicle impo

Becoming the first bank to report June quarter (2Q20) interim results, Seylan Bank PLC may have set the tone for the expected performance of the country’s banking sector for the three months, where economic activity lagged due to COVID-19 lockdowns

John Keells Hotels PLC reported its worst performance during the three months to June 30, 2020 (1Q21), as the resort operator in both Sri Lanka and the Maldives reported only a nominal income amid global tourism coming to an abrupt halt, due to the n

The average new lending rate in the economy is seeing easing with the aggressive monetary policy easing instituted from the onset of the pandemic as interest rates on loans extended to SMEs are seen coming down, though with a lag compared to the rate

China’s Huawei has overtaken Samsung to become the number-one smartphone seller worldwide in the second quarter on the back of strong domestic demand, industry tracker Canalys said yesterday.

Swiss food giant Nestle said yesterday that second quarter growth slowed as lockdowns aimed at halting the spread of COVID-19 shuttered eateries, while confined consumers relied on home reserves.

Sri Lanka Chamber of Small and Medium Industries (SLCSMI) yesterday urged the government to expand and solidify the short-term measures introduced in support of the country’s SME sector amid COVID-19 crisis, in order to retain the momentum for the

Join us for AIA Live – an online day of health and wellness brought to you by AIA’s family of ambassadors, celebrities and influencers from across the world, with guest appearances from AIA Global Ambassador David Beckham, Deepal Sooriyaarachchi

John Keells Holdings PLC (JKH) succumbed to the pandemic-induced business disruptions during the April-June 2020 quarter (1Q21), as the lockdowns, which remained for half of the quarter, erased nearly a third of its revenues, plunging the group deep

Sri Lanka raised US $ 100 million via development bonds at an auction held between July 22 and July 27, the second such auction since June 25, when the government raised a similar amount, as the government ramped up borrowings for dollar liquidity.

Gold chalked up another record peak on Tuesday, while equity markets struggled with mounting coronavirus fears amid a political fight in Washington over another fiscal package to support the battered US economy.

Vallibel Properties Ltd has signed an agreement with the Board of Investment (BOI) for the construction of its 16-storey office complex.

Joining the bandwagon on urging the government to do away with the import restriction are the office furniture importers, who stressed the need to lift the suspension with immediate effect, to cushion the sector from further impacts.

Equities fluctuated yesterday as investors kept a nervous eye on Washington this week, hoping the Federal Reserve will extend its dovish monetary policy while lawmakers are struggling to hammer out a much-needed new stimulus package.

Although the COVID-19 pandemic has hit the profitability of the banks in Asia-Pacific (APAC), Sri Lanka’s banking system has managed to keep its asset yields from falling negative, a position only two other regional economies secured during the cri