In another unprecedented move, the Monetary Board this week cut the Bank rate by 500 basis points, bringing the rate at which banks can access emergency liquidity to 10 percent as and when they require.

The depleted consumer incomes and temporary import restrictions on non-essential imports could deal a heavy blow to Sri Lanka’s consumer durables sector, which was on its way to recovery from a sales slump, and could take at least one and half year

Based on the direction of the Government and the guidelines of Central Bank of Sri Lanka towards supporting SMEs, other businesses and individuals, Amãna Bank has extended a helping hand to its customers in terms of a special relief moratorium to ov

As the deadly COVID-19 pandemic threatens the entire world, claiming thousands of lives and disrupting economic activities, it would be wise to look at the role smoking cessation could play in the response.

After the April 2019 terrorist attack in Sri Lanka, the Market Development Facility (MDF), an Australian multi-country initiative, launched a series of informative seminars across the country to help the smaller scale hotel companies understand how t

Murtaza Jafferjee, CEO of JB Securities, has taken up the role of Chairperson of the Advocata Institute. In his new role, Jafferjee would play a leading role in fundraising, governance and act as an advocate of the institute’s mission and its polic

People and traders are using online platforms to do trading, small traders use messaging platforms, corporates use virtual roundtables to conferences to online meeting platforms to keep things moving, educators do online tutorials, doctors do online

The insurance sector regulator, the Insurance Regulatory Commission of Sri Lanka (IRCSL), grants a three-month extension to both life and general insurance policyholders to settle their premiums, as a relief measure amidst the COVID-19 pandemic, foll

The World Bank (WB) Group projects Sri Lanka’s GDP to contract in the range of 0.5-3 percent this year as the country embraces a coronavirus-induced recession, which would result in losses in employment and earrings leaving many in poverty while po

Multinational advisory firm KPMG last week advised local businesses to prioritise financial crisis response and contingency planning options since it is unlikely the support measures announced by the government would arrive early enough.

The tea industry has once again called on the authorities to suspend the Tea Promotion Levy; however, this time the request was put forward so that the sector receives the necessary relief from the current challenges faced due to the coronavirus (COV

The LOLC group in a recent statement said it has received US $ 422 million as the first tranche of the proceeds of the PRASAC Cambodia sale.

The Asian Development Bank (ADB) has tripled the size of its response package to the novel coronavirus disease (COVID-19) to US $ 20 billion and approved measures to streamline its operations for quicker and more flexible delivery of assistance.

In a fresh move to provide further support to the licensed finance companies (LFCs), which are engaged in passing down the relief to their borrowers affected by the pandemic, the Monetary Board has decided to provide them with liquidity from the Sri

As Sri Lanka’s early but extreme actions to contain the spread of the new coronavirus is bearing fruit and the government is contemplating on reopening the economy by at least from May or even before, the pandemic could easily alter the country’s

As an Avurudu initiative (Sri Lankan New Year), Ride for Ceylon (R4C) in partnership with Coca-Cola Sri Lanka, Texus Group and with the support of the Nugegoda Police division, distributed Avurudu goodie bags to over 1500 daily wage-earning families

COVID-19 is causing catastrophic damage globally and the world is in lockdown. Without even a missile being fired it seems like the world is at war. People are violently sick, dying, healthcare systems are stretched to the maximum and even first worl

In January this year, the LOLC Group announced of their agreement to sell it’s 70% stake held in Cambodia’s largest Microfinance Company, PRASAC, to the world’s sixth largest Commercial Bank and Korea’s biggest Commercial Bank, Kookmin for US

Essential goods being taken to wholesalers in Pettah during curfew hours yesterday. The government announced that the curfew in Colombo, Gampaha, Kalutara, Puttalam and Kandy districts will continue to be in effect until further notice. Pic by Pradee

Sri Lanka Insurance Corporation (SLIC) in collaboration with ayubo.life provides free access to online medical care to SLIC policyholders.

Ceylinco Life has announced it is offering multiple online payment and communications options as well as facilitation of settlement of claims, to ensure policyholder requirements are met as they stay safe in their homes to protect themselves, their f

DFCC Bank, as a premier commercial bank in Sri Lanka and the Bank for Everyone, is committed to serving the nation, catering to the needs of the bank’s loyal clientele.

In its milestone 25th year of operation, leading insurer, Janashakthi Insurance PLC recorded an impressive growth of 30 percent in the first-year premiums for the financial year of 2019, with gross written premiums (GWP) of Rs.3.5 billion.

The United States has threatened to cut off Beijing-controlled China Telecom from serving the US market because of legal and security risks, announced the Justice Department.

Major oil producers except Mexico agreed to cut output in May and June by 10 million barrels per day, OPEC said yesterday, after marathon talks to counter a collapse in prices.

Sri Lanka’s Mevan Peiris has put the country under fresh spotlight on the global stage by making it to the prestigious Forbes ‘30 Under 30’ Asia 2020.

The Colombo Rubber Traders’ Association (CRTA) with the approval of the government and Health and Indigenous Medical Services Ministry commenced its weekly auctions beginning with one auction per week at the Ceylon Chamber of Commerce on April 9 at

Asian markets were mostly higher yesterday after the latest US coronavirus stimulus measures boosted Wall Street overnight.

The government has decided to re-introduce the Pay As You Earn (PAYE) tax as an advance personal income tax to be deducted by the employer, after considering pleas from employees, the Department of Inland Revenue (IRD) announced.

Sri Lanka’s Export Development Board (EDB) appeals to all exporters to resume operations following the Sinhala and Tamil New Year holidays next week in order to ensure the sustainability of the economy as Coronavirus (COVID-19) pandemic is deterior