The workers’ remittance flows to Sri Lanka are expected to take a hit from COVID-19, which is playing havoc in at least two of the countries from where Sri Lanka gets a substantial amount of remittance income.

National Development Bank PLC (NDB) is confident of achieving 16 percent credit growth for this year but does not rule out the possible hiccups from the deadly coronavirus, which is threatening global growth and international trade.

The Securities and Exchange Commission of Sri Lanka (SEC) convened a special meeting yesterday to assess the current situation in the stock market and determine what regulatory relief and assistance needed to manage the impact arising from the global

Sri Lanka will come under pressure to sign the World Trade Organisation’s (WTO) Information Technology Agreement (ITA) this June, the Department of Commerce (DoC) said, as the government is expected to put forward its position at the agency’s upc

Oil prices tumbled yesterday after Saudi Arabia and Gulf partner UAE stepped up the price war with plans to flood the global markets while a rally in equities evaporated as investors nervously await a US coronavirus relief plan.

The Bank of England (BoE) yesterday slashed its main interest rate to 0.25 percent in an emergency move to combat the fallout from the coronavirus outbreak on the UK economy.

As the role of smart tech in people’s lives expands even further, developers have become a driving force for software innovation. At Microsoft, we are working to enable even greater developer opportunity and innovation by providing the best experie

The Pathfinder Foundation from its inception has been an active contributor and participant in the economic policy and the development dialogue in the country. When the Millennium Challenge Corporation (MCC) was established in 2004, we were keen to a

The local apparel sector, following a series of stakeholder consultations, has assessed that the immediate revenue loss for the industry due to the coronavirus (Covid-19) outbreak in China would be about US $ 510 million, which amounts to approximate

During close to a four-week period, which ended on February 10, the banks in total have received slightly over 11,000 applications or business cases from small and medium-sized enterprises (SMEs) across the county, seeking loan moratoriums.

Pan Asia Bank Chief Executive Officer is doubting the ability of the tourism sector to recommence servicing interest payments even next year, given its slow recovery and is expressing concerns over the ability of the bank to withstand such pressures

Global stocks plunged yesterday and prices for crude oil tumbled as much as 33 percent after Saudi Arabia launched a price war with Russia, sending investors already worried by the coronavirus fleeing for the safety of bonds and the yen.

Despite the 5G hype among the local telco players, the Telecommunication Regulatory Commission of Sri Lanka (TRCSL) recently stressed that increased emphasis is required to overcoming the existing blind spots in improving the overall connectivity acr

Profit transfers from the Central Bank during February propelled the market liquidity in the overnight money market while the banks lent heavily to the government via treasury bills and bonds in the month earlier, as demand for private sector credit

Jack Welch, who was described by the Fortune magazine in 1999 as the ‘Manager of the Century’, died this week, at the age of 84.

Headlines from global summits have one thing in common: the overwhelming presence of men and few, if any, women taking centre stage in those photo ops. The glass ceiling for leadership roles remains thick and impenetrable to women.

The Asian Development Bank (ADB) said yesterday the coronavirus outbreak is set to trim economic growth in developing Asia and around the world this year. More than 3,200 people worldwide have died from the respiratory illness that can lead to pneu

Tourism authorities in coordination with the Health Ministry will prepare a new programme to address the coronavirus outbreak impact on tourism industry. The decision was taken at a meeting between Prime Minister Mahinda Rajapaksa and members of the

For the fifth consecutive year, IFC, a member of the World Bank Group, partnered with the Colombo Stock Exchange (CSE) to ring the opening bell for trading in celebration of International Women’s Day

‘Medicare 2020’, the national healthcare exhibition opened for the 11th consecutive year at the Bandaranaike Memorial International Conference Hall (BMICH), Colombo yesterday under the theme ‘Healthy Sri

HONG KONG (AFP) - Asian equities tumbled yesterday as analysts warned the volatility that has characterised markets during the coronavirus crisis is likely to continue for some time. While governments and central banks have unleashed or prepared to r

NEW DELHI (AFP) - India’s poultry industry is reeling after sales fell nearly 80 percent over false claims that chickens were carriers of the new coronavirus and could pass it to humans, officials said yesterday. Messages warning people to stop ea

BEIRUT (AFP) - Lebanon’s attorney general has suspended an order freezing the assets of 20 banks and their directors over concerns about its impact on the country’s fragile economy, State-run media said. The order was postponed to allow for the

There will be no Mirror Business on Monday (9th) in view of the Poya Holiday. The next issue will be on Tuesday.

(London) REUTERS: The dollar fell further against the euro and yen yesterday as sliding U.S. Treasury yields eliminated more of its interest rate advantage over other currencies. Mounting fears over the eff

Labour markets are undergoing rapid changes, while technological advances, income growth and urbanisation are transforming lifestyles. Traditionally, most employees worked regular work hours, from morning to evening and went home to be with their fam

Production disruptions in China have adversely affected international value chains that have been increasingly dependent on inputs from China, in recent years. Where Sri Lanka is concerned, China is an important source for raw materials and other inp

Whilst there has been much commentary around the Belt Road Initiative (BRI) and its geopolitical intentions, not much has been said about the way the Digital Silk Road is seen as being essential to deliver the BRI outcomes.

Both service providers as well as their customers rely on technology to help their operations and business growth. Technology can be used to break down regional barriers and to enhance the ability to operate as one global team. Many service providers

The Central Bank (CB) said yesterday that Sri Lanka’s economic growth could slump to 3.5 percent this year from over 4 percent projected earlier as revenue from exports, tourism, remittances and logistics would be hit by the recent escalation of co