Sri Lanka’s tourism sector is likely to have its 3.5 million euro grant by the Europe Union (EU) upped to 4 million euros, where the additional funds would be allocated to assist the revival of the tourism industry SMEs hit by the coronavirus pande

The suspension of the business of controversial primary dealer Perpetual Treasuries Limited has been extended by another six months, the Central Bank said yesterday.

The local micro, small and medium enterprises (MSMEs) continue to be underserved by the country’s banking and insurance industry, a national study revealed and the failure of an intervention along with the absence of the necessary stimulus during t

Loans under the Central Bank liquidity support scheme to assist pandemic-affected businesses gathered steam as of late as the banking sector regulator granted approval for 6,314 new applications for Rs.25.3 billion worth loans at 4 percent during the

Total credit to private individuals and businesses by the banking sector declined by Rs.69.6 billion in May as loan settlements by borrowers who were capable of continuing to service their loans overtook the new loans granted in the month where not m

Sri Lanka’s unemployment rate rose to 5.7 percent in the first quarter of 2020 from 4.5 percent in the fourth quarter in 2019 and 4.7 percent a year ago as the pandemic-induced business closures limited economic operations from the third week of Ma

Bank of Ceylon (BOC), the largest bank and the market leader in the financial services sector in Sri Lanka, launched a private placement of Basel III compliant, unlisted, unsecured, subordinated, perpetual, additional Tier I capital bond issue with n

Open source technology provider, WSO2 said its employees would continue to work from home till the end of 2020 although the government has given the clearance for both the public and the private sector to resume operations from May 11.

The Commercial Bank of Ceylon has brought honour to the country’s banking industry by moving up 51 places on the World’s Top 1000 Banks ranking for 2020, and become the only Sri Lankan bank to be on this prestigious list for 10 years in a row.

Sri Lanka is not among the list of 67 countries that has been exempted from the Global Travel Advisory or border restrictions for the British nationals against all but essential international travel at the initial stage, the British High Commission i

The global pandemic is placing new pressure on the already challenging real estate market conditions in Sri Lanka, nevertheless the most elite luxury real estate projects have recommenced construction with vigour and reflect strong optimism despite o

Japan’s huge public pension fund, the world’s biggest, said yesterday it had suffered its largest annual loss since the global financial crisis, as markets tumbled amid the coronavirus pandemic.

The Central Bank (CB) dismissed concerns over potential money laundering activities linked to the recently introduced Special Deposit Accounts (SDAs) while stressing that the exemptions granted from procedural requirements are provided under the pro

Cyprus decided yesterday to welcome tourists from Britain, its largest market, from 1 August if that country’s coronavirus outbreak remains on a downward trend.

Asian investors welcomed a forecast-busting US jobs report to send regional equities higher yesterday, though an acceleration in virus infections across the world’s top economy tempered big gains.

The 3rd Annual General Meeting of the Tourism Industry Skills Council (TISC) was held on June 11th at the NAITA Auditorium in the presence of senior officials from the respective associations and ex-officios from the public sector institutions.

The IMF and the international business community expressed deep concern Thursday after the governor of Ukraine’s central bank resigned citing political pressure.

Sri Lanka moved up in Heritage Foundation’s world Economic Freedom Index 2020 by three spots to 112th position, although, the country’s economy remains rated mostly unfree for the sixth year in a row. In the 2020 index, Sri Lanka’s overall scor

In order to develop villages, the banking service in the country should understand the rural economy and the needs of the people, President Gotabaya Rajapaksa emphasized.

The pandemic is still in its early stages but the economic fallout is likely to be far worse than the global financial crisis of just over a decade ago. Initial data points to the worst slump since the Second World War.

COVID-19 is exposing the vulnerability of global value chains (GVCs). GVCs contribute to rapid economic growth by enabling multinational corporations to increase their efficiency through fragmented, task-based specialisation. But they are now quickly

ACCA members have always played a key role in assessing the financial implications and risks faced by Sri Lanka in any crisis and now with the COVID-19 pandemic, they are helping to guide organisations through this challenge and playing a critical pa

Vehicle registrations fell by nearly 40 percent during January through April as import controls went into effect from mid-March and the lockdowns prevented new registrations during April, according to Department of Motor Traffic data.

The World Bank (WB) has downgraded Sri Lanka from an upper-middle-income country to a lower middle-income one as the country’s Gross National Income (GNI) per capita slipped below upper-middle income country threshold of US$ 4,046.

Finance companies can now opt to retain their directors who reach 70 years of age while serving in their respective boards as the Monetary Board has eased rules on the maximum age of a sitting director as companies scramble to fill vacant board seats

Cementing an international reputation for excellence, Hatton National Bank PLC was ranked among the Top 1,000 World Banks 2020 for the fourth consecutive year by the UK’s The Banker magazine.

The global market will soon see zero pesticide residue in premium Ceylon Tea product range as the Sri Lanka Tea Board (SLTB) urges industry players to resort to best agricultural practices that would ensure no trace of chemicals in the final product.

The World Bank has announced Chiyo Kanda as the new Country Manager for Sri Lanka.

The recently approved amendments to the listing rules of the Colombo Stock Exchange (CSE) by the Securities and Exchange Commission of Sri Lanka (SEC) will enable shareholders to receive dividends declared by listed companies much faster.

The World Bank has announced Chiyo Kanda as the new Country Manager for Sri Lanka.