Softlogic Holdings PLC returned to profit during the three months ended September (2Q19) amid a substantial tax reversal at the group’s life insurance business, while the group’s key retail business 

Despite a strong top line performance, the bottom line of Sri Lanka’s diversified blue chip Hayleys PLC fell victim to significantly higher finance costs stemming from recent acquisitions and the exchange rate fluctuations.

Sri Lanka’s Central Bank unexpectedly raised its key policy rates yesterday, a move aimed at defending a faltering rupee currency as foreign capital outflows pick up amid an escalating political crisis and rising U.S. interest rate

Commercial Bank of Ceylon PLC (ComBank) yesterday showed it has what it takes to withstand the shocks in the wider economy and could still post strong profits and growth. 

Former Monetary Board member Neil Umagiliya has been appointed as Chairman of state-owned banking giant, Bank of Ceylon (BOC) with effect from November 13, 2018.

Nestlé Lanka PLC, the local unit of the world’s largest food company, saw its September quarter (3Q18) net profits increasing 15.6 percent year-on-year (YoY) to Rs.941 million, as the company managed to contain its costs despite a drop i

The Central Bank is expected to leave its key interest rates steady today, despite heavy pressure on the rupee from a deepening political crisis, a Reuters  poll showed.

Dipped Products PLC, the non-medical glove maker of Hayleys group, saw its performance improving significantly during the September quarter (2Q19) with positive contributions from the firm’s local and international operations.

REUTERS: The Sri Lankan rupee fell to a record low of 176.15 to the U.S. dollar yesterday, surpassing the 175.90 hit in the previous session, amid political uncertainty triggered by President Maithripala Sirisena’s decision to dissolve parliame

Sampath Bank PLC profits edged lower over significantly higher provisions made against possible loan losses while the bank’s asset quality eroded as debt serviceability of the borrowers weakened significantly.   The bank reported a ne

Former Monetary Board member Neil Umagiliya has been appointed Chairman of State-owned banking giant, Bank of Ceylon (BOC) with effect from November  13, 2018.

Despite a strong top line performance, the bottom line of Sri Lanka’s diversified blue chip Hayleys PLC fell victim to significantly higher finance costs stemming from recent acquisitions and the e

Commercial Bank of Ceylon PLC (ComBank) yesterday showed it has what it takes to withstand the shocks in the wider economy and could still post strong profits and growth. 

(Colombo) REUTERS: Eight Western countries stayed away from a meeting with Sri Lanka’s government yesterday to register their protest against President Maithripala Sirisena’s decision to dissolve Parliament, diplomatic and government sour

Foreign governments have not withdrawn grants, project loans and economic programmes with Sri Lanka, said Sarath Amunugama, who was appointed as Foreign Minister amid a constitutional crisis.

(London) REUTERS: Sri Lanka’s dollar-denominated bonds tumbled yesterday after President Maithripala Sirisena dissolved Parliament on Friday night and called a general election for January 5 in a move that will likely deepen the country’s

Premier blue chip John Keells Holdings PLC (PLC) yesterday announced plans to execute a share buyback to the tune of Rs.11.1 billion.   

Expolanka Holdings PLC returned to profits during the three months ended September 30, 2018 (2Q19), from a loss made in the corresponding quarter, last year, as a result of consistent performance of its core logistics business.   

Over the last few years, both economic and historical ties between Sri Lanka and China have grown with China becoming a significant economic partner of Sri Lanka. The Belt and Road Initiative (BRI) is at the centre of this. The Chinese government has

(Colombo) REUTERS: The Sri Lankan rupee fell to a record low yesterday, as political uncertainty triggered by President Maithripala Sirisena’s decision to sack Parliament weighed on sentiment, in line with bonds, market sources said.  

The sales dropped at Sri Lanka’s monopoly cigarette player, Ceylon Tobacco PLC (CTC), during its most recent quarter, after two quarters of volume growth, with the government again hiking the taxes in August 2018, which led CTC to jack up the p

Sunshine Holdings PLC’s performance for the September quarter was hurt by the poor agri business led by tea and weak margins in the healthcare segment, due to the controlled prices imposed by the government and higher borrowing costs.  The

(Colombo) AFP: Sri Lanka’s largest party announced Saturday a legal challenge to President Maithripala Sirisena’s sacking of Parliament, a move that has plunged the Indian Ocean island nation into fresh turmoil and alarmed the internation

Diversified conglomerate Softlogic Holdings PLC said it will soon be opening its first modern supermarket outlet “with the launch of a truly global market experience” in Delkanda, a rapidly expanding suburb of Colombo. A statement by Soft

The feeble Sri Lankan rupee eroded Dialog Axiata PLC’s bottom line during the September quarter (3Q18) as the country’s largest telco booked a hefty foreign currency translational loss against its do

Anura Priyadharshana Yapa assumed duties as the Minister of State for Finance  at the Finance Ministry yesterday. Minister of Finance and Economic Affairs, Prime Minister Mahinda Rajapaksa,  ministers Lakshman Yapa Abeywardene and Dunesh Ga

HONG KONG (AFP) - Asian markets turned lower yesterday as investors took their foot off the pedal at the end of a broadly positive week, while the dollar strengthened after the Federal Reserve flagged more interest rate hikes down the line. Energy fi

Sri Lanka may re-negotiate a free trade with Singapore for mutual benefit, after looking at an expert report and a Supreme Court ruling, newly appointed International Trade Minister Bandula Gunewardene said. “Nothing will be stopped in a fit of

SEOUL (AFP) - South Korean President Moon Jae-in sacked his top two economic officials yesterday, the government said, as the world’s 11th-largest economy struggles with slowing growth, rising unemployment and persistent income gaps. Finance Mi

LONDON (AFP) - Britain’s economy has grown at the fastest pace in nearly two years as strong exports and solid household spending offset slumping business investment, data showed yesterday awaiting a Brexit deal. Gross domestic product climbed