European stock markets eased yesterday after recent gains, with the Bank of England set to unveil more massive cash stimulus for Britain’s virus-hit economy. Earlier, Asian equity indices closed mixed after a two-day rally, with traders weighing co

As the first course of action of the joint committee between the Securities and Exchange Commission (SEC) and Colombo Stock Exchange (CSE), it has been decided to convert the paper-based statements to electronic form and to facilitate the companies l

Sri Lanka’s condominium sector is observed to be gradually moving towards a positive growth trajectory, after a few months of slowdown and is witnessing fresh interest from the homeowner market segment.

Softlogic Invest, the asset management arm of Softlogic Capital PLC, recently launched two unit trusts or mutual funds — Softlogic Equity Fund and Softlogic Money Market Fund, after obtaining the licence from the Securities and Exchange Commission

Central Bank Governor Prof. W.D. Lakshman has appointed a three-member committee to probe into the alleged irregular and unlawful activities at finance and leasing companies.

Apparel major, MAS Holdings, which is also the largest lingerie manufacturer in South Asia, has announced a voluntary separation scheme (VSS) across all the clusters of the group, to reduce its overall employee base by 4 percent by this August, amid

Effective June 20, Etihad Airways will operate twice-weekly scheduled services for outbound passengers from Colombo, to key destinations on its global network via Abu Dhabi.

As a way of saying ‘Thank You’ to Sri Lanka’s courageous healthcare workers, Cinnamon Hotels & Resorts is offering 1,000 complimentary full board holiday packages, for two nights at nine of its properties in Sri Lanka.

In another drastic move, the Monetary Board of the Central Bank yesterday slashed the Statutory Reserve Ratio (SRR) applicable on all rupee deposit liabilities of licensed commercial banks by 200 basis points to 2 percent.

Sri Lanka’s manufacturing and service sectors made notable rebounds in May after hitting the rock bottom in April as the country started to gradually relax COVID-19 related mobility restrictions in the month, according to the Purchasing Managers’

Sri Lanka Tourism Promotion Bureau (SLTPB) is planning to launch the long awaited multi-billion five-year global tourism promotion campaign next January, amid fears over possible shortage of funds, if tourism doesn’t bounce back to the pre-COVID le

Lanka IOC (LIOC) has secured business from Ceylon Electricity Board (CEB) to supply Servo branded lubricants to Sapugaskanda Power Station. This business was secured through competetive bidding by LIOC for the first time.

The adequate capital buffers built, specially during the last three years, will soften the negative impacts on the banking sector stemming from the new coronavirus-driven economic damage, which has made the operating environment for banks challenging

Given the stark choice between saving lives with no certainty vs saving livelihoods with some certainty, Sri Lanka, like some other countries, opted for the former and acted early. Would this wreak havoc in the Sri Lankan economy?

In another drastic move, the Monetary Board of the Central Bank yesterday slashed the Statutory Reserve Ratio (SRR) applicable on all rupee deposit liabilities of licensed commercial banks by 200 basis points to 2 percent.

Subjects related to advanced agricultural technologies are proposed by the authorities to bridge the glaring lack of knowledge in technology use in agricultural activities and to promote its adoption, which will eventually result in precision in appl

The local apparel sector has stressed the need to establish a stronger online presence to ensure it anchors strong in the post-COVID-19 era and hold a sizable portion of the global fashion industry.

Pan Asia Bank has become the proud recipient of a US $ 7.75 million (approx. Rs.1.5 billion) green bond launched by Switzerland-based Symbiotics, the leading market access platform for impact investing.

Several high-net-worth investors and local institutional investors, including Sohli Captain, Nimal Perera, Sri Lanka Insurance and Capital Trust, were believed to be among the buyers of LOLC Holdings PLC shares, in the last two trading sessions, amid

Emirates has announced the launch of outward-bound passenger flights from Sri Lanka, starting Saturday, June 20, 2020, to facilitate travel for foreign nationals as well as Sri Lankans, who need to return to families, jobs or education overseas.

The repeated pleas from the construction sector for due payments from the state have finally been answered, with the government having decided to settle all certified invoices by end of June.

The government plans to formally announce the reopening day of the country’s coronavirus-battered tourism sector for foreign tourists, following a key stakeholder meeting tomorrow, which is likely to be August 1 or an even earlier date.

Encouraged by the recent move to re-impose special commodity levy on canned fish imports, Sri Lanka’s canned fish manufactures say that the country could commence exporting canned fish products within two years with the right backing of the governm

Fairfirst Insurance has become the proud recipient of the prestigious ‘Fairfax Presidents’ Innovation Award’. This award is special for Sri Lanka since Fairfax operates out of more than 18 countries across five continents through some of the l

Lockdowns across the world have caused trade and travel to grind to a halt. The demand for oil has plunged and the prices have crashed; futures for West Texas Intermediate, a grade of oil, briefly turned negative, touching a low of minus US $ 40.32.

Now that Sri Lanka has achieved a notable success in containing the danger posed by the COVID-19 pandemic to the health of the nation, the time has come for a concerted and decisive focus on reviving the economy. This is particularly timely, now that

Sampath Bank PLC, one of Sri Lanka’s leading commercial banks, has successfully raised US$ 45 million via a medium-term syndicated facility.

Sri Lanka reported a slightly stretched budget deficit of 2.1 percent of the estimated gross domestic product (GDP) for the first quarter ended March 31, 2020, up from 1.8 percent recorded in the corresponding period in 2019, as State revenues slippe

The Finance Houses Association of Sri Lanka (FHA Sri Lanka) in its capacity as the apex association of 41 registered licensed finance companies in Sri Lanka, has condemned the alleged murder of Self Employed Professionals’ Three-Wheeler Association

Private sector credit from the banking sector slumped during April to just over Rs.13 billion from a massive Rs.120 billion surge recorded in March as most of the economic actors went in to hibernation during COVID lockdowns from mid-March.