Argentina missed a bond interest payment of about US$500 million that was due on Wednesday and planned to use a 30-day grace period, the government said, as it seeks to avoid default and buy time to reach a wider debt revamp deal with creditors.

Asian stock markets rose yesterday as the combination of a rebound in crude prices from historic lows and the promise of more U.S. government aid to cushion the coronavirus-ravaged economy helped calm nervous markets.

The novel coronavirus (COVID-19) outbreak resulted in eliminating almost entirely the revenues from brand websites of local hotels and resorts within a matter of seven days, an in-depth study on website analytics revealed.According to data gathered f

The government is working towards securing up to at least US$ 700 million from currency swaps and multilateral lenders within the coming few weeks to cushion the island nation’s foreign reserve buffers and support its budget.

Companies are delaying their planned big capital investment projects and putting on hold ongoing projects as they are rushing to conserve cash at a time when revenues have dried up triggering a liquidity crunch.

As Sri Lanka is in the midst of exploring all possible avenues to bounce back from the upheaval set in motion by the coronavirus pandemic, the UNDP advised that efforts should be carried in a manner that makes sure every investment counts.

The fear of contagion has struck deep and some things will perhaps never go back to the way they were. Here are some possible narratives and changing paradigms that could emerge in a post-COVID-19 world:

I am penning this as a matter of urgency and I concede I could develop the arguments and points better. I consider this an urgent appeal to the president to read it and find a solution, which will save not only jobs but the economy.

Kantar recently unveiled the COVID-19 Barometer for Sri Lanka through a virtual webinar. The study covers the sentiments of both urban and rural households across all socio-economic groups and age segments.

The COVID-19 pandemic has resulted in many countries having lockdowns, mainly to control the spread of the coronavirus. This pandemic, which started in Wuhan, China, has now spread worldwide, with Europe and America experiencing a major impact and hu

Atlas Axillia PLC, a subsidiary of the Hemas Group, handed over another home-grown Automated Guided Vehicle (AGV) robot, to assist medical personnel in the remote monitoring and careof patients affected by the coronavirus.

Watawala Tea Ceylon Ltd (WTCL)–a subsidiary of the diversified conglomerate Sunshine Holdings PLC – recently commenced the donation of Ceylon Tea for the consumption of individuals and staff placed in quarantine centres located around the country

INSEE Cement Sri Lanka has extended vital support to the authorities towards dealing with the COVID-19 pandemic and helping to build a resilient nation.

Priyantha Talwatte, Chief Executive Officer of Nations Trust Bank PLC symbolically handed over medical scrub suits for frontline healthcare workers combating the COVID-19 pandemic in Sri Lanka, to Director General of Health, Dr. Anil Jasinghe, in Col

NDB Bank recently made a donation towards the national ‘COVID-19 Healthcare and Social Security Fund’.

Providing much-needed strength to the government in their effort to control the spread of COVID-19 in Sri Lanka, Reckitt Benckiser Lanka donated parcels containinghygiene products for the use of health professionals and military personnel at the fore

India has initiated a probe into an alleged dumping of copper alloy flat rolled products -- used by auto and electrical industries— from Sri Lanka, China, Korea, Malaysia, Nepal and Thailand, following a complaint.

Fitch Ratings has downgraded Singer Sri Lanka PLC by a notch from A+ to BBB+ and left its outlook at ‘Negative’ as worries mount over the firm’s leverage amid disruptions to its business and the pressure on the discretionary spending of the con

As the rapid spread of the coronavirus is impacting global economic growth and leading to market volatility, Ernst & Young (EY) advises the financial services sector to tread forward in a cautious manner, instead of taking a leap.

Oil prices slumped again yesterday, with Brent falling to the lowest since 1999, as the market struggled with a massive crude glut amid a collapse in demand for everything from gasoline to jet fuel, caused by the coronavirus outbreak.

Sri Lanka’s tourism sector’s post-COVID-19 approach to revive the sector has been conceptualised to be carried out in two stages, the Sri Lanka Tourism Development Authority (SLTDA) said, where the initial focus would be ready for business come D

Almost half of the Fitch-rated companies in Sri Lanka are less likely to weather a prolonged economic downturn without facing a rating downgrade triggered by the currency weakness, higher leverage or liquidity squeeze with the latter being the most i

The worker remittance inflows to Sri Lanka this year are projected to decline by 19 percent year-on-year (YoY), driven by the global economic slowdown due to the coronavirus (COVID-19) pandemic as well as the steep decline in oil prices, according to

A Colombo Municipal Council worker sprays disinfectant at the Manning Market in Pettah, which now remains closed, in order to prevent the spread of COVID-19. Sri Lanka has so far reported over 320 confirmed coronavirus positive patients -Pic by Prade

As tourism sector stakeholders are adopting measures to stay afloat, authorities have been capitalising on the time available to chart out comprehensive plans that aim at redefining the industry in the face of the COVID-19 outbreak that has dealt a c

The Easter Sunday attacks and the tremors felt across the economy in its aftermath cost the Sri Lankan economy a mammoth Rs.150 billion in 2019, translating into 1 percent of lost economic output with the services sector left reeling from the shock,

The government is losing estimated Rs.15 billion monthly tax revenue due to the island-wide ban on the manufacture and sale of liquor while illicit liquor trade gaining ground with home breweries popping up across the country.

Prices could see a short-term uptrend in April and May amid sputtered supply due to coronavirus-induced lockdowns, but overall prices in the economy for the year could broadly be benign through the year, according to analysts.

U.S. oil futures continued to trade in negative territory yesterday, after closing down nearly US$ 40 on Monday in their first ever sub-zero dive, as concerns grew the United States will run out of storage for a glut caused by the coronavirus lockdow

Sri Lanka’s tea industry has stepped up efforts and evolved to move away from its traditional systems, which paved the way for the successful conclusion of the second eAuction within a shorter timeframe.