The Central Bank yesterday said the first phase of compensation payment for The Finance Company PLC (TFC) would start on June 7.

The Central Bank yesterday said the first phase of compensation payment for The Finance Company PLC (TFC) would start on June 7.

In commemorating World Environment Day (WED), which falls today, Biodiversity Sri Lanka (BSL), in collaboration with its Initiating Partner - Dilmah Conservation (DC) and Associate Member - the United Nations Development Programme (UNDP), will host a

The Central Bank of Sri Lanka (CBSL) should take the responsibility when financial institutions approved by it and under its supervision go into bankruptcy, Prime Minister Mahinda Rajapaksa said.

Sri Lanka’s construction sector appears largely resilient to the shocks reverberating from the coronavirus-related economic malaise compared to other sectors, as the projects are gradually gaining pace after the easing of curfew while the companies

The two Sri Lankan hotel properties of Hong Kong Stock Exchange (HKEx)-listed Shangri-La Group recorded a US $ 13.1 million drop in revenues in 2019, compared to 2018, as the occupancy levels plunged due to the negative impact created by the Easter b

In a strategic move to build in synergies, agility and create a robust governance structure between the holding company Ambeon Capital PLC and its investment holding and management company Ambeon Holdings PLC, Ambeon Group this week announced the res

Ceylon Tea auction sales reached an all-time high for the calendar month of May, recording a national average of Rs.697.57, surpassing last month’s record.

Sri Lanka has an untapped export potential of US $ 7.4 billion, which could be bridged by increasing further focus on the country’s top-performing industries, the World Trade Organisation’s (WTO) International Trade Centre (ITC) said.

The Colombo Stock Exchange (CSE) in consultation with the Securities and Exchange Commission (SEC) has decided to keep the market open for a limited time period today, in view of the curfew declared by the government.

Canada-based Ceylon Graphite Corp. yesterday announced the first sale of graphite from its graphite mines located in Sri Lanka, since the commencement of commercial production in December 2019.

Oil rose yesterday, topping US $ 40 a barrel for the first time since March, supported by lower U.S. inventories, expectations OPEC+ will keep oil output cuts in place and signs of demand recovery from the coronavirus crisis.

Aqua Ceylon International, an export company in Sri Lanka decided help kids who were isolated and locked in houses for long period without any social interactions with outside world and people.

Exports play an important role in a country’s economy as they influence the level of growth, employment and balance of payments. For Sri Lanka, the focus on exports is now more important than ever, as the island nation looks to bring in foreign cur

Sales remained flat and profit ebbed at Lion Brewery Ceylon PLC during the three months ended March 31, 2020, as lockdowns hurt the retail beer sales from mid-March amid the restrictions on tourism trade, which accounts for a considerable amount of s

Jetwing Symphony PLC has felt the brunt of the coronavirus-related travel restrictions during the quarter ended March 31, 2020 but the company said it steadily restarted its operations with the ease of curfew and the gradual recommencement of economi

The Securities and Exchange Commission (SEC) has approved amendments to the Stockbroker Rules, Central Depository Systems (CDS) Rules and Listing Rules submitted by the Colombo Stock Exchange (CSE), which will enable the stock market to transition fr

The board of directors of Sampath Bank at a meeting held on May 28 had decided to appoint Dhara Wijayatilake as the bank’s Deputy Chairperson, consequent to the conduction of the 34th Annual General Meeting (AGM) of the bank.

According to the Treasury, the public debt balance payable by the government stood at Rs.12.18 trillion, at the end of 2019.

Sri Lanka’s 52 key state-owned enterprises (SOEs) have reduced their combined losses substantially to Rs.2.4 billion in 2019, from Rs.28 billion recorded in 2018, due to the enhanced performance of Ceylon Petroleum Corporation (CPC), amid lower oil

Tourism is probably the worst affected industry from the outbreak of the COVID-19 pandemic. Sri Lanka is yet to feel the economic and social impact of the unprecedented global lockdown and travel restrictions, which are likely to remain until the thi

Acting Chinese Ambassador in Sri Lanka Hu Wei in this interview says he is confident of a bright future for China-Sri Lanka relations and says certain western politicians are attempting to make China the scapegoat for their negligence. As of 2019, th

Sri Lanka’s cumulative apparel exports in the first four months stagnated to US $ 1.25 billion, recording a 28.2 year-on-year (YoY) decline, after the historical contraction in April apparel export earnings as the COVID-19 pandemic paralysed the re

Sri Lanka’s trade deficit narrowed by US $ 43 million in March, driven by a sharp decline in imports amid the COVID-19 impact, decline in oil prices, import restrictions and low demand for export inputs, although export earnings recorded a sharper

The companies reporting their financial performance for the March quarter have been allowed to fair value their financial assets as the prices prevailed on March 31, 2020 were unrealistic and much of them were tainted by the gyrations, since the inve

Vajira Kulatilaka, Director/CEO of NDB Group’s investment banking cluster, will be retiring by the end of June 2020, after 36 years in the banking and finance sector of Sri Lanka.

Responding to media reports on the resignation of Dr. Sanjiva Weerawarana from the Information Communication Technology Agency (ICTA) board, ICTA Chairman Jayantha De Silva said Dr. Weerawarana’s resignation was inevitable.

The Colombo Stock Exchange (CSE) ended on a negative note yesterday but foreigners remained active during the day closing as net buyers.

The Monetary Board of the Central Bank of Sri Lanka (CBSL) has suspended NatWealth Securities Limited (NWSL) from carrying on the business and activities of a primary dealer for a period of six months, with effect from June 1, 2020.

Assists doctors distinguish between early, advanced and severe stages of pandemic