REUTERS - Sri Lanka’s rupee ended 1 percent weaker yesterday, due to dollar demand as importers purchased the greenback after the local currency gained nearly 3 percent last week. 

Fitch Ratings said yesterday it would recalibrate the Sri Lankan National Rating scale to reflect changes in the relative credit worthiness among Sri Lankan issuers, following the downgrade of the country’s sovereign rating to ‘B’ f

The government has allocated over 50 percent of total expenditure for debt servicing in the Appropriation Bill 2019, amounting to Rs. 2.23 trillion, the highest ever debt servicing value in the country’s history, the Finance Ministry stated. Ac

The Payment Card Industry Association of Sri Lanka and Sri Lanka Banks’ Association in a brief joint statement yesterday urged the public to inform their respective banks immediately in the event of any suspicious transaction noticed on their a

Colombo-based real estate development firm Serenia Limited will host an exclusive event featuring an intimate discussion and a walk-through of the site with the partners and developers of Serenia Residences.

The Sri Lanka Ports Authority (SLPA) signed an agreement with Colombo Dockyard PLC yesterday to build two pilot boats for the Port of Colombo, enabling it to handle a greater volume

Dr. Vishaka Sooriyabandara has been appointed as Chairperson of the Rubber Research Institute of Sri Lanka. The appointment letter was handed over to Sooriyabandara by Plantation Industries Minister Navin Dissanayake on January 31, 2019, at the minis

Sri Lanka moves closer to secure US $ 1.1 billion investments from Singapore and Chinese investors to set up a steel plant and cement plant as the government focuses on regaining the investor confidence that derailed during the political crisis. 

(Colombo) REUTERS: Sri Lanka’s rupee ended over 1 percent firmer yesterday, posting a weekly gain of 2.8 percent, as foreign investors purchased government securities after an International Monetary Fund (IMF) statement and government’s U

(New Delhi/Mumbai) REUTERS: India’s revised e-commerce rules caused widespread disruption on Amazon’s India website when they kicked in yesterday, forcing the company to take down its key grocery service and remove a wide range of product

In our story titled ‘Thilak Piyadigama to head Sanasa Development Bank’ appeared yesterday (February 1), the date of the retirement of CEO/GM Nimal C. Hapuarachchi should be February 28, 2019. We regret the inadvertent error.

REUTERS: State Bank of India beat expectations and posted its highest quarterly profit in nearly seven years yesterday, as the country’s biggest lender by assets set aside lower provisions for bad loans and asset quality improved. Its net profi

People’s Leasing & Finance PLC (PLC), a unit of State-owned People’s Bank, reported higher earnings for the quarter ended on December 31, 2018 (3Q19) on modest growth in loans and leases although the bottom line growth was stymied by

COLOMBO (Reuters) - Sri Lanka has halted imports of Johnson & Johnson Baby Powder until the company proves its product is free from cancer-causing asbestos, two government officials and the product›s local distributor told Reuters.

Ceylon Grain Elevators PLC, Sri Lanka’s largest poultry sector operator and the producer of ‘Prima Chicken,’ warns of higher prices due to the spread of ‘Sena’ caterpillar (fall armyworm) in many maize farmlands in the c

Director General of Department of Commerce (DoC) Sonali Wijeratne is tipped to be appointed the Chief Negotiator of Sri Lanka’s Free Trade Agreement (FTA) negotiation team shortly, as the country plans to resume FTA talks from this March follow

Senior banker Thilak Piyadigama will be taking over the role of CEO/GM of Sanasa Development Bank PLC with effect from March 01, 2019. His appointment comes following the retiremen

Sri Lanka’s economy is likely to have an adverse impact from a potential slowdown in construction sector activities, as over 3500 small and medium sized construction firms employing ov

Challenging operating conditions and weak consumer sentiment continued to weigh on the performance of Sri Lanka’s premier blue chip John Keells Holdings PLC during the December quarter (3Q19), despite the positive performance of some the group&

(Colombo) REUTERS: Sri Lanka’s rupee rose 0.5 percent yesterday, and posted a gain of 2.4 percent for the month, as foreign investors purchased government securities, while Fitch Ratin

In response to our story titled ‘PM rains on John’s parade’ appeared yesterday, a ‘right of reply’ from Tourism Development, Wildlife and Christian Religions Affairs Minister John Amaratunga, sent through his Media Secre

(Colombo) REUTERS: Sri Lanka’s rupee rose 0.9 percent yesterday on banks’ dollar sales from inward remittances, while foreign investors purchased short-term bills. Stocks ended weaker.   

As the current non-renewable energy sources in Sri Lanka are costly and contribute to increased emission of greenhouse gases, it is high time for the country to focus on transitioning from conventional sources to renewable energy sources, according t

The Sri Lanka Ports Authority (SLPA) will sign an agreement with Colombo Dockyard PLC to build two pilot boats for the Colombo port, enabling it to handle a greater volume of activities with more efficiency.   

Fitch Ratings affirmed Sri Lanka Telecom PLC’s (SLT) Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) at ‘B’. The Outlook is Stable. The agency has simultaneously withdrawn the ratings for commercial reasons. &nbs

(New Delhi/Los Angeles) REUTERS: US-based electronic cigarette company Juul Labs Inc. is hoping to launch its products in India by late 2019, a person familiar with the strategy told Reuters, marking one of its boldest bets to expand away from its ho

(Washington) AFP: The Federal Reserve will make its first interest rate announcement of the year on Wednesday but almost certainly will make it clear it will remain patient about any further moves.  

Sri Lanka must prioritize developing its human resources with continuous investments over hard infrastructure developments, to move forward with the increasing competition in the South Asian region, which is overshadowed by economies with large popul

Samapth Bank PLC yesterday said it is investigating a ‘financial irregularity’ at one of its branches, and said the ongoing investigation prevents them from disclosing details any further.

Ports, Shipping and Southern Development Minister Sagala Ratnayaka said the implementation of the proposed port tariff revision will be deferred until March 15 considering concerns raised by numerous industry stakeholders.  The Cabinet of