The 17th Annual K Sivagananathan Memorial Awards and oration will be held on Monday, 11th March 2019.

Profits declined at Nations Trust Bank PLC during the October–December quarter (4Q18), as the lender grappled with multiple issues stemming from higher credit costs, weak liquidity and modest growth in the demand for new loans. The banking group r

The United States is working with the Sri Lankan government and the business community to remove barriers to investment, U.S. Ambassador in Colombo Alaina B. Teplitz said. She said they are looking forward to seeing the business environment improvin

Maersk A/S has announced plans to expand container handling operations at the Colombo Port. The announcement followed talks between Maersk Chief Executive Officer Soren Skou and President Maithripala Sirisena at the Presidential secretariat on Thursd

AIA Insurance Lanka PLC has upped its offer to the firm’s minority shareholders considerably in a fresh attempt to take the company private, following a failed bid to do the same in August last year.

The buyers of ETI assets yesterday said they are presently reviewing the measures to be taken to protect their investments amid misleading statements by interested parties with misguided age

Sri Lanka has reached a staff level agreement with the International Monetary Fund (IMF) on the fifth review of the US $ 1.5 billion 3-year Extended Fund Facility (EEF) the country entered in June 2016.

Access Engineering PLC has been awarded with the civil works of Ceylon Electricity Board’s (CEB) 100MW Mannar Island wind farm project that is financed by the Asian Development Bank (ADB).

(Colombo) REUTERS: Sri Lankan shares rose yesterday after declining for eight straight sessions to a four-month closing low in the previous day, as investors picked up beaten-down stocks ahead of an increase in liquidity, analysts said. The rupee cl

Prima Ceylon, the flagship company of the Prima Group Sri Lanka, celebrated four decades of successful partnerships and growing together with the nation, at an event recently in Trincomalee, where its state-of-theart flour milling complex and one of

(Colombo) REUTERS: Sri Lanka has asked the International Monetary Fund (IMF) to extend a US $1.5 billion loan by another year and relax its tight spending targets ahead of key elections, two government sources close to the negotiations told Reuters

Motorcar registrations in January saw a rebound after a sharp fall in December, but still significantly lower in registrations in January 2018, a vehicle registrations tracker by Colombo-based stock broking and research house JB Securities showed. Mo

(Colombo) REUTERS: Sri Lankan shares and the rupee closed weaker yesterday, with investors waiting for directions from next week’s budget and the outcome of talks between government authorities and the International Monetary Fund (IMF), market sour

Sri Lanka will make its debut at the upcoming Expo 2020 Dubai, with the aim of further promoting Sri Lanka as a tourist destination, facilitating international trade and attracting investors to the country.

Sri Lanka is today facing a domestic labour shortage in some key sectors and industries. Demographic issues, social attitudes, expansion of the economy and outward labour emigration are contributing to the shortfall. Generally, the lack of interest i

Sri Lanka is dollar hungry. As a country with an export income of little over US $ 11 billion and debt obligations of US $ 4 billion on average for the next few years, Sri Lanka’s prime focus should be towards bringing in more dollars into the coun

Sri Lanka Telecom PLC’s (SLT) profits surged despite some significant foreign exchange translation losses incurred on its foreign borrowing portfolio, as the State-controlled telecom operator is pivoting towards data related services from tradition

The Financial Action Task Force (FATF), the global policy setter on anti-money laundering and countering the financing of terrorism (AML/CFT), has made the initial determination that Sri Lanka has completed its action plan

The Northern Province public representatives recently urged the government to adopt short-term employment creation schemes in the Northern Province, as skilled youth migration has spiked, due to the lack of employment opportunities for the youth in t

The renewable energy developer, Resus Energy PLC is to invest Rs.1.3 billion in a couple of hydropower and solar power projects during this year, the company said in a media statement. The company said these projects have been structured with focus

Hatton National Bank PLC (HNB) reported lower profits for the quarter ended December 31 (4Q18) as the increased credit loss expenses upended the financial performance of the country’s second largest private lender. The banking group,

Pan Asia Banking Corporation PLC (PABC) was able to somewhat contain the blows from the first-time impact of the adoption of new accounting standards and implementation of financial sector-specific levies during the December quarter (4Q18), while rec

Sustaining its unblemished track record in performance, the LOLC group crossed the rupees trillion mark, with total assets reaching Rs.1.008 trillion, as at December 2018. This significant achievement is on account of the group’s consistently resi

Sri Lanka Tourism is eying a 30-minute segment on the CNN Business Traveller programme hosted by Richard Quest to attract high-net-worth business and leisure tourists to Sri Lanka. A Sri Lanka Tourism Promotion Bureau (SLTPB) official said they are

Commercial Bank of Ceylon PLC saw its earnings for the quarter ended December (4Q18) declining, as the country’s largest private lender failed to reflect its solid loan growth in its net interest income amid attempts to reverse the impact from weak

The buyer of the troubled ETI Finance Limited’s (ETIFL) assets has decided to refrain from purchasing Swarnamahal Financial Services, thereby bringing down the value of the deal to US$ 70 million from the original US$ 75 million. “There is an is

Nestlé Lanka PLC reported lower revenues and profits for the quarter ended December 31, 2018 (4Q18), as the local unit of the world’s largest food company suffered from tough market conditions and weak consumer demand. Nestlé Lanka reported earni

Sri Lanka has commenced registering nearly 2200 tourist establishments in the informal sector amounting to a 50,000 room stock under the newly established enforcement unit of Sri Lanka Touris

Sri Lanka will start discussions with credit rating agencies for a rating upgrade after reaching a staff level agreement with the International Monetary Fund (IMF) for the 5th instalment of the US $1.5 loan facility.