Sri Lanka’s trade deficit narrowed by US $ 416 million in May 2020 to US $ 407 million, as imports slumped to less than US $ 1 billion for the first time since March 2010, amid the government-imposed import controls put in place to ease the pressur

Sri Lanka broadened the funding sources that can be collected into the Special Deposit Account (SDA) and made possible cash-backed loans against such deposits, in a further attempt to lure foreign currency deposits, as the Monetary Board and governme

Based on a request by the Government of Sri Lanka (GoSL), the Government of Japan has agreed to provide a Japanese yen 200 million (approx. Rs.340 million) grant, under the Japanese non-project grant aid scheme, for provision of the necessary equipme

Sri Lanka may witness a further downgrade in its sovereign rating in the next cycle. However, a trigger can be avoided with the formulation of a credible fiscal policy that would help the country tackle the mounting external pressures, Fitch Ratings

The Central Bank (CB) yesterday announced the suspension of business activities of ETI Finance Limited (ETIFL) and Swarnamahal Financial Services PLC (SFSP), which were formerly owned by the Edirisinghe family.

IFC, a member of the World Bank Group, will support Commercial Bank of Ceylon (ComBank), Sri Lanka’s largest commercial bank, to develop more specially-designed products and services for women, as part of a move to help boost access to finance for

The Central Bank yesterday said little over Rs.5.1 billion has been paid to the registered depositors of the now defunct The Finance Company PLC (TFC), from the Sri Lanka Deposit Insurance and Liquidity Support Scheme (SLDILSS).

Aitken Spence Hotels is gearing to reopen its hotel properties, offering guests to experience unique hospitality and exemplary cuisine.

One hundred years is a significant milestone in life. The Ceylon Motor Traders Association (CMTA) is one of the oldest trade associations in Sri Lanka and one of the oldest automotive associations internationally. The CMTA is affiliated to the Ceylon

It is inaccurate to say that import controls have hamstrung the local manufacturers and will impinge economic growth, as those who are engaged in domestic value addition industries can continue to import the required inputs, while essential industrie

Vehicle registrations in June picked up to pre-pandemic levels as pent-up demand kicked in with the gradual easing of lockdowns from mid May with people accelerating their vehicle purchases, mostly on their savings as bank credit in to vehicle purcha

The committee appointed to look in to unauthorised finance and leasing companies has proposed to terminate the operations of leasing businesses, which operate without Central Bank license.

IFS, the global enterprise applications company, was recently recognised among the top five Export Corporate Brands for IT Services in the latest edition of the Brands Annual magazine.

Sri Lanka’s small and medium-sized businesses are mulling bringing in new technology and machinery from India to revive the country’s industrial base, according to the Confederation of Micro, Small and Medium Industries (COSMI).

In an effort to uplift the overall experience of a foreign traveller in Sri Lanka, the Tourism Development Authority is gearing up to set up branches across the island that will improve the services extended.

The International Chamber of Commerce of Sri Lanka (ICCSL), the local of chapter of the International Chamber of Commerce (ICC) Paris, has set up an Export and Investment Development Committee to assist small & medium-sized enterprises (SMEs) and oth

The Sri Lanka Retailers’ Association (SLRA) will organize its first event with the Federation of Asia-Pacific Retailers Associations (FAPRA) to host FAPRA Executive Directors’ Virtual Meeting 2020 on July 14th.

Seylan Bank PLC has successfully concluded its 33rd Annual General Meeting on a virtual platform on June 24th.

After a painful four-month tourism shutdown that ended this week, Dubai is betting pent-up demand will see the industry quickly bounce back, billing itself as a safe destination with the resources to ward off coronavirus.

Asian markets sank yesterday as rising virus infection rates across the world put the brakes on the latest rally.

Cargo Boat Development Company PLC (CBD) - an associate company of the Renuka Hotels Group - has completed the refurbishment of its landmark building in Fort.

Senkadagala Finance PLC recently announced that it received a US$ 25 million 5-year green investment facility from Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO). FMO, a Dutch Development bank co-owned by the Dutch government a

EU Council president Charles Michel yesterday proposed setting up a five billion euro reserve fund for any unforeseen consequences of Brexit on bloc member states.

The Central Bank of Sri Lanka (CBSL) had approved 22,306 loans amounting to Rs. 60, 250 million under the Saubagya COVID-19 renaissance facility as of yesterday with approval given for 2,066 new loans, amounting to Rs. 6,978 million during the week e

The Sri Lankan economy is in dire straits owing to the strict lockdown imposed by the government from March 21st to May 9th to counter the Covid-19 pandemic.

This is part of the interview series titled ‘Mirror Business S&P SL2- Insights’ conducted in collaboration with the Colombo Stock Exchange (CSE). The interview features Commercial Bank of Ceylon PLC Managing Director S. Renganathan. Following are

The Central Bank (CB) anticipates a strong economic rebound in the second half of this year from the expected contraction in the second quarter due to COVID-19 related lockdown, although the growth projection of 1.5 percent could be subject to revisi

State-owned commercial bank, People’s Bank yesterday entered into a partnership with the Industrial Development Board (IDB) to uplift micro, small and medium enterprises (MSMEs) in the country.

An internal committee has been set by the Central Bank to expedite the monetary policy transmission through the real economy and to smoothen out any bottlenecks, as some delay is observed in passing down the full extent of the rate cuts, specially to

Nation Lanka Equities (Pvt) Ltd. has been re-admitted by the Colombo Stock Exchange as a Trading Member. This Securities and Exchange Commission (SEC) has also renewed Nation Lanka Equities’ licence to function in the capacity of a stockbroker. Nat