Five forensic audit reports on alleged bond scams and Rs.2.2 trillion Employees’ Provident Fund (EPF) transactions will be completed by mid next month, the Central Bank (CB) said. “The forensic audit reports cover both bond issuances and EPF tra

BEIJING (AFP) - China’s securities regulator has set a timetable to remove foreign ownership limits in finance companies next year, as Beijing seeks to attract overseas investment to boost a slowing economy.

WASHINGTON (AFP) - US aviation regulators were slammed yesterday for allowing design changes to Boeing’s 737 MAX aircraft that have been implicated in two crashes causing the deaths of more than 300 people.

REUTERS: Sri Lankan stocks rose for the sixth straight session yesterday to hit their five-week high led by banking and beverage shares, but foreign investors exited from risky assets with the start of presidential poll campaigning. The rupee currenc

The incorporation of a new company in Sri Lanka is now possible from the comfort of one’s own home. “Name reservation of companies could be obtained online. Company registrations and incorporations could be done online and there is no need for p

Abans Group recently announced the appointment of Dinesh Weerakkody as a Non-Executive Director to Abans Retail Holdings.

LONDON (AFP) - Oil surged yesterday after an Iranian tanker was hit by suspected missile strikes off the coast of Saudi Arabia, sparking fresh conflict fears one month after attacks on Saudi oil facilities that were blamed by Washington on Tehran.

More than two-third of total employment in under-developed and developing countries is provided by small economic units, the International Labour Organization’s latest report has found.

The Monetary Board of the Central Bank (CB) yesterday decided to maintain policy interest rates at their current levels, awaiting for materialisation of various measures aimed at accelerating subpar economic growth in the country, while being cautiou

Police officers arrest an activist at London City Airport during the fourth day of demonstrations by the climate change action group Extinction Rebellion, in London yesterday. Demonstrations occurred in 60 cities around the world this week, with thou

With nearly one-third of Sri Lanka’s adult banking population considered to be inactive account holders and many facing significant constraints in accessing finance, the World Bank (WB) urges the country’s banks to position themselves as developm

The Central Bank (CB) wants Sri Lanka’s banking sector to start preparing for the anticipated transformation of the current banking industry landscape as the new Banking Act is set to come into effect in 2021 with the regulator gaining more ‘teet

ATHENS (AFP) - The European Commission yesterday approved a Greek scheme to reduce bad loans weighing down the country’s banks, limiting new credit and holding back economic recovery.

The Central Bank (CB) is to introduce new regulations to restrict cross holdings among banks to enhance corporate governance in the banking sector. “We are looking

COLOMBO (Reuters) - Sri Lankan stocks rose for the fifth straight session yesterday to hit their near four-week high led by beverage shares, but foreign investors exited from the risky assets with the start of presiden

John Keells Hotels provided a corporate guarantee for Rs.2.45 billion to People’s Bank on Wednesday, in respect of a long-term loan facility obtained by its subsidiary, Ceylon Holiday Resorts Ltd, for redevelopment of Cinnamon Bentota Beach. “Th

HONG KONG (AFP) - Apple yesterday removed a Hong Kong map application used by pro-democracy protesters, saying it endangered police, after China warned the US tech giant to drop the app. According to a statement p

HONG KONG (AFP) - Asian markets were mixed yesterday with investors moving cautiously as they sifted through conflicting reports about the outlook for upcoming China-US trade talks.

With nearly one-third of Sri Lanka’s adult banked population considered to be inactive account holders and many facing significant constraints in accessing finance, the World Bank (WB) urges the country’s banks to position themselves as developme

The European Union (EU) is providing EUR 40 million to Sri Lanka to co-finance the Strengthening Transformation, Reconciliation and Inclusive Democratic Engagement (STRIDE) project.

Sri Lanka becomes the most improved economy in the South Asian region in Global Competitiveness Index 2019, by gaining 1.1 index points and improving its ranking to 84th, out of 141 countries, due to the improvements in socio-economic elements.

(Colombo) REUTERS: Sri Lanka’s Central Bank will likely leave its key interest rates on hold at a policy review tomorrow, after a 50-basis-point cut in August, a Reuters poll showed, ahead of presidential elections and as lower bank rates go into e

Sri Lanka’s unemployment rate has inched up to 4.9 percent during the second quarter of 2019, up from 4.7 percent in the quarter ended in March 2019, although the total number of employed persons has increased.

John Keells Hotels provided a corporate guarantee for Rs.2.45 billion to People’s Bank yesterday, in respect of a long-term loan facility obtained by its subsidiary, Ceylon Holiday Resorts Ltd, for redevelopment of Cinnamon Bentota Beach.

We believe Facebook can be a valuable force for democracy around the world, encouraging healthy debate, providing voters more direct access to their candidates and giving more people a voice in the political process. That is why we are focused on ens

For a record 14th year, John Keells Holdings PLC (JKH) was ranked as the Most Respected entity in Sri Lanka, in the recently released edition of LMD’s Most Respected entities issue. In terms of the 10 attribute rankings, JKH has taken the lead in s

First Capital Research predicts zero chance for a third policy rate cut this year ahead of Central Bank’s Monetary Policy Review scheduled for this Friday. “The Central Ba

A consortium of leading local banks, comprising of the Bank of Ceylon, NDB Bank and National Savings Bank has raised a syndicated loan of US$ 25 million (Rs 4.5 billion at current rates) for Sri Lanka’s showpiece high rise property development Alta

The Central Bank (CB) expects private sector credit growth to pick up by end of this year amid anticipated low interest rates through lending rate caps slapped on banks and enhanced business confidence. Speaking t

HONG KONG (Reuters) - Hong Kong’s bourse yesterday dropped its unsolicited US$ 39 billion bid for London Stock Exchange Group (LSE), conceding it hadn’t won over LSE management for a move that could have transformed both global financial services