The Public Utilities Commission of Sri Lanka (PUCSL) has issued fresh guidelines in consultations with the Ceylon Electricity Board (CEB) and Lanka Electricity Company (LECO) to grant a grace period for consumers to settle their accumulated electrici

Commercial Bank of Ceylon PLC’s (ComBank) March quarter performance showed consumption had picked up in economy after taxes were cut, interest rates were reduced and sentiments turned positive following the presidential election last year, as the b

Informal sector appears to be making the most of the direct-to-consumer model,which flourished during the two-month long shelter-in-place conditions as the branded and more established players with their e-commerce platforms and delivery channels fai

Sri Lanka, which has been sending workers abroad for employment for decades, is now faced with the formidable challenge of repatriating large numbers of migrant workers affected by COVID-19.

The Central Bank (CB) yesterday announced the implementation of extraordinary regulatory measures aimed at strengthening the liquidity positions of the licensed banks, to ensure the continued supply of credit and to meet the urgent liquidity needs of

Sri Lanka’s rupee is expected to feel the pressure from the dwindling official foreign reserves combined with the impacts from the increased money printing towards the latter part of the year, when the demand rebounds from the current sluggish leve

The Colombo Stock Exchange (CSE) rebounded yesterday after two days of losses, with the benchmark All Share Price Index (ASPI) increasing by 2.81 percent or 119.30 points to close at 4,367.25 points while the S&P SL20 index also increased by 2.59 per

Sri Lanka’s temporary ban on the importation of pepper has contributed to a sharp decline in pepper imports to India, according to an Indian media report.

Sampath Bank’s interim results released for the March quarter (1Q20) showed that the economy was gathering steam from the lower interest rates and tax cuts, as the loans had begun to rise and earnings got a boost before it hit a wall when the count

The Sri Lanka Ports Authority (SLPA) yesterday stressed the urgent need for the entity to go digital but said it is faced with a major hurdle in doing so, as its workforce is resisting the changes in that direction.

Despite higher revenues, Lanka IOC PLC swung to a loss during the three months to March 2020 (4Q), as the prices relevant for oil deliveries through March-end remained elevated, before they crashed recently amid the demand slump caused by the shutter

Asian markets were mixed yesterday but investors remain on edge after Donald Trump’s top virus adviser warned that easing lockdown measures too early could spark another dangerous wave of infections and batter the economic recovery.

World leaders wanting to end the lockdown and allow their people to move about and contribute to the national economy because many are drowning in bills as they remain shut due to the COVID-19 lockdown, will have to monitor closely for new infections

The COVID-19 lockdown has been a great leveler, as various sectors across the world struggle to maintain status quo.

Economies across Asia and the Pacific—like in much of the world—have been hit hard by the coronavirus outbreak. To slow the spread of the virus, many governments have chosen to impose lockdowns and travel bans. While vital, these measures have al

Picking, sorting, processing and grading tea leaves make up the fabric of life in Sri Lanka. And ensuring that people around the globe get their daily cups of chai, Earl Grey, English Breakfast or Orange Pekoe, is crucial to the local economy and job

I recently attended a large virtual meeting. The topic was timely but several things went wrong: the host joined late, we were entertained by background ‘home’ noises, people interrupted each other, the chat feature wasn’t used and the host lef

Sri Lanka’s archaic labour laws need urgent revisiting and amendment where possible, a panel of high-profile lawyers said, as bulk of the laws that are in effect are hardly useful at this point of time where the ongoing health crisis is observed to

Sri Lankan stocks closed sharply lower yesterday, weighed by consumer discretionary and industrial stocks, as investors returned to stock markets this week after a long shutdown imposed to curb the spread of coronavirus infections.

Although Sri Lanka’s tea industry has been able to brew a strong cuppa amid the global pandemic, the sector representatives caution that the industry should look at maintaining high standards in terms of quality to sustain the demand.

Sri Lanka has been removed from a list of high-risk countries for money laundering and terror financing by the European Commission from May 07, the Central Bank (CB) said yesterday.

The Inland Revenue Department (IRD) has issued instructions for individuals, partnerships and partners in a partnership and companies to settle the fourth quarter income tax instalment on or before May 15.

When all else seemed gloomy and commodities prices were set to take a plunge from the coronavirus-induced economic damage, one commodity stood out unscathed, i.e. Ceylon Tea, but analysts said all is not well with it as many factors were at play and

Fears of a second wave of coronavirus infections in some parts of the world weighed on equities yesterday, bringing a dose of hard reality to markets after weeks of rallies fuelled by the easing of lockdown measures and hopes for economic recovery.

Asia’s economy dominated until the 19th century, before being knocked off its pedestal by Europe and then the US. Since then, while the region has grown to become home to more than half the world’s population and soon half of the world’s middl

One of the biggest challenges seen due to the coronavirus outbreak is the socio-economic downfall with over 200,000 deaths around the world without any cure at the moment (by end April 2020) (Source: World Health Organization – WHO).

People all over the world are increasingly standing in solidarity with one another to beat the virus. The COVID-19 pandemic will inevitably wreak its worst on the people, communities, and countries that are least able to withstand the shock or to pro

The Employers’ Federation of Ceylon (EFC) has put forward to the government a 10-point proposal that would help cushion the private sector from possible labour issues and ensure its ability to continue to operate amid the challenges the businesses

Saudi Arabia unveiled plans yesterday to triple its Value Added Tax (VAT) and halt monthly handouts to citizens as part of a series of austerity measures amid record low oil prices and a coronavirus-led economic slump.

Hong Kong-based Kerry Logistics Network has announced a new joint venture, Kerry Logistics Lanka, with Sri Lanka’s IAS Holdings, to strengthen its international freight forwarding capabilities in South Asia.