Profits at LOLC Holdings PLC surged during the June quarter (1Q20) helped by a hefty negative goodwill stemming from an international acquisition by the group, the interim financial accounts released to the Colombo bourse showed. The group wh

Diversified conglomerate Softlogic Holdings PLC’s (SHL) June quarter (1Q20) performance was hit by Easter bombings and resultant demand slowdown amid significantly higher finance costs due to the group’s high level of gearing, SHL’s interim fin

(Dar Es Salaam) REUTERS: The U.S.-China trade war and uncertainty over Brexit pose risks to Africa’s economic prospects that are “increasing by the day,” the head of the African Development Bank (AfDB) told Reuters.

Manufacturing activities picked up in July with increased new orders, signaling a recovery from the Easter attacks. The manufacturing

Colombo-based free market think tank Advocata welcomed the decision by the government to open the Committee on Public Enterprises (COPE) hearings to the media. “The government has enforced this timely initiative in a greater attempt to promote acco

JAKARTA (AFP) - Indonesian President Joko Widodo said yesterday he would press on with plans to move the nation’s capital and roll out measures to kickstart Southeast Asia’s biggest economy as it feels the sting of slow

This government has allocated massive funds for the development of Northern province and more projects are to be launched, said Industry and Commerce Minister Rishad Bathiudeen yesterday, addressing the ceremonial opening of a new hospital wing in Va

WASHINGTON (AFP) - American consumers appear to be carrying the US economy in their shopping carts as manufacturing slumps amid President Donald Trump’s trade conflict with China, and financial signals warn of a possible recession. “The economy i

HONG KONG (AFP) - Cathay Pacific announced the shock resignation yesterday of its CEO Rupert Hogg, compounding a torrid week for the Hong Kong carrier after it was excoriated by Beijing because some staff supported pro-democracy protests.

HONG KONG (AFP) - Asian markets were jittery yesterday as a volatile week marked by lingering worries over the US-China trade war and its impact on the world economy drew to a close.

NEW YORK (AFP) - General Electric shares plunged Thursday after an accounting expert accused the company of fraud, an allegation the industrial giant strongly denied and said was tainted by the accuser’s financial incentives.

Sri Lankan shares hit their lowest close in a week yesterday as investors remained on the sidelines and sought more clarity after the main opposition party, seeking to capitalise on public clamour for a decisive leader,

Sri Lanka must fulfil its commitments to foreign investors by moving ahead with the proposed amendments to Fiscal Management (Responsibility) Act and the new Monterey Law Act to ensure access to international capital markets, which is crucial for the

Commercial Bank of (Ceylon) PLC, Sri Lanka’s largest private bank with over Rs.1.36 trillion in assets, saw its June quarter (2Q19) performance hampered by a spike in provisions made against possible bad loans and contraction in its loan book. The

Nations Trust Bank PLC (NTB) reported lower profits for the period ended June 30, 2019 (2Q19) as the margins narrowed while sour loans rose as the bank became a yet another victim of the hobbling economy and weak sentiments.

Pan Asia Banking Corporation PLC saw its June quarter (2Q19) earnings impacted by weak core banking operations amid contraction in the bank’s loan book, the interim accounts of the bank released to the Colombo Stock Exchange showed.

The Central Bank is planning to assess the creditworthiness of Sri Lankan households, as the financial sector regulator wants to identify the risks emanating from the household sector to the country’s financial system.

(Colombo) REUTERS: Shares closed weaker yesterday as investors locked in profits after the recent rally in financial and industrial stocks, while the rupee edged down on importer dollar demand.

National Development Bank PLC (NDB) reported subdued performance for the quarter ended June 30, 2019 (2Q19) as the provisions made on possible bad loans spiked while lacklustre demand for new loans slowed growth.

Hatton National Bank PLC (HNB), Sri Lanka’s second largest private bank in terms of assets, saw depressed earnings for the quarter ended June 30, 2019 (2Q19) amid a contraction in loans, trading losses and higher loan loss provisions. The banking

Business Line: Indian domestic pepper growers have taken strong exception to the reported move by the Sri Lankan government to hold talks with India for relaxing the minimum import price (MIP) fixed for black pepper, which has led to the decline in e

A leading economist in the country predicts a gloomy economic outlook for this year with economic growth stagnating at 2 percent, in the aftermath of the Easter Sunday attacks on April 21. “In 2019, we

Sri Lanka’s largest brewer saw its earnings for the quarter ended June 30, 2019 (1Q20) rising modestly but Lion Brewery PLC (LION) expects a difficult financial year ahead, following the April 21 Easter Sunday attacks that dealt a paralysing blow t

Hayleys PLC is to raise up to Rs.3 billion via a listed debenture issue.

Sri Lanka’s top executive’s lack of knowledge in modern agriculture led to ad hoc decision-making in the plantations sector, threatening an entire industry, which brings in significant foreign exchange to the country, a top minister asserted.

The earnings at Sri Lanka’s leading white goods seller and lifestyle retailer, Singer Sri Lanka PLC, plunged during the June quarter (1Q20) amid sluggish consumer demand and Easter bombings, the interim financial accounts released to the Colombo St

Sampath Bank PLC’s profit fell as the provisions made for possible bad loans surged during the June quarter (2Q19) marked by anaemic growth in new loans amid widespread economic uncertainty exacerbated by the Easter attacks.

The sales at Sri Lanka’s monopoly cigarette player, Ceylon Tobacco PLC (CTC), fell during the June quarter (2Q19) due to two Excise-led price increases in a span of eight months and Easter bombings in April, which slowed consumer spending and touri

Diversified Hemas Holdings PLC reported depressed performance for the quarter ended June 1, 2019 (1Q20) amid the general slowdown in the country’s business and economic environment and Easter Sunday attacks on April 21.

Sri Lankan risks losing the US $ 480 million Millennium Challenge Corporation (MCC) grant, if the government fails to sign the Compact agreement within a month.