The asset quality of the non-bank finance sector is not something which often comes to the fore or commented on. But with the economic conditions getting tougher, it is slowly coming into the spotlight. 

Commercial Bank of Ceylon PLC has announced the appointments of Sivakrishnarajah Renganathan and Sanath Manatunge, two career bankers, who have served the bank for 37 years and 29 years, respectively, as Managing Director and Chief Operating Officer,

(Colombo) REUTERS: Sri Lankan shares fell over one percent yesterday, the sharpest in nearly 28 months, as continued foreign selling and concerns about lower economic growth hurt sentiment, stockbrokers said.

Sri Lanka’s largest brewery, Lion Brewery (Ceylon) PLC, has urged the government to restore the concessionary rate of income tax on its export profits.

Asian countries have traditionally enjoyed large demographic dividends—i.e. increases in labour supply and savings—that have boosted economic growth. But this decade, the share of working-age population, most notably in the People’s

Ceylon Petroleum Corporation (CPC) yesterday unveiled the country’s first Euro-spec fuel dispenser and launched European Emission Standard Euro 4 fuel, at a launch ceremony held at C.F. De Mel & Sons Filling Station, in Colombo 2.

(Colombo) REUTERS: The Sri Lankan rupee closed slightly weaker yesterday in dull trade as thin dollar demand from importers and banks outpaced little inflows from inward remittances, dealers said. The rupee ended at 158.35/45 per dollar, compared wit

Cyber risk has emerged as a significant threat to the financial system. An International Monetary Fund (IMF) staff modelling exercise estimates that the average annual losses to financial institutions from cyberattacks could reach a few hundred billi

On June 19, Advocata Institute and Echelon Magazine’s Think series hosted Singaporean economist Razeen Sally at the Sri Lanka Foundation Institute to speak on ‘Capitalism in Asia and what it means for Sri Lanka’. 

Shortages of labour, land and an ageing population mean that Sri Lanka’s opportunities for rapid catch-up growth are diminishing and institutional transformation is needed for innovation and output-led growth, a top economist has said.

Property development and hospitality holding company Ascot Holdings PLC is to raise Rs.632.8 million through a rights issue, subject to shareholder and stock exchange approval, the company announced last Friday.

Sri Lanka’s general prices accelerated in June on the back of higher food prices and transport costs resulting from the fuel price hike in May, as policymakers battle reining in escalating cost of living. 

Laugfs Gas PLC, the second largest distributor of liquid petroleum gas (LPG) or cooking gas in Sri Lanka yesterday cried foul over the “baseless” price reduction of 12.5 kg LPG cylinder, which came into effec

Sri Lanka’s merchandise trade deficit worsened during April as the consumption-hungry nation imported record-high consumption goods and personal vehicles, while exports languished.  

Ceylon tea continues to face major hurdles this year due to ad-hoc policies pursued by the State, government-red-tape, irresponsible actions of certain stakeholders and volatile conditions of key export markets, the umbrella organisation of Ceylon Te

(Hong Kong) REUTERS: China’s Xiaomi Corp priced its Hong Kong initial public offering (IPO) at the bottom of an indicative range, raising US$4.72 billion in the world’s biggest tech float in four years, people close to the transaction sai

he Ceylon Chamber of Commerce (CCC), the apex body representing the country’s private sector emphasised that business confidence had been adversely impacted by political uncertainty last year, but commended the government for its more consisten

Sri Lanka’s construction sector is increasingly played by foreign investments (FDI), rather than locally generated funds. The main reason for this is the sector’s annual output value now totalling to a huge US$3 billion without even addin

ATHENS (AFP):  Greece’s long-term debt prospects are uncertain, the International Monetary Fund said yesterday, questioning the country’s ability to maintain high budget surpluses to 2060 under a recent eurozone deal.

ECONOMYNEXT: Sri Lanka is expecting to wrap up financing for a 1.7 billion US dollar light rail transit project for the capital Colombo by November 2018, for construction to begin by 2020, officials said.

BEIJING (AFP):  China has announced sectors of the economy where it will ease foreign investment rules, with leaders stepping up efforts to portray the country as opening up as they prepare for a possible trade war with the United States.

HONG KONG (AFP): Asian markets mostly rose yesterday, bringing an end to a tumultuous quarter that has seen sharp losses around the world, with China-US trade tensions showing no sign of calming.

Delivering the keynote address at the Saman Kelegama Memorial Conference yesterday, Prime Minister Ranil Wickremesinghe noted that Sri Lanka has to address weaknesses in trade competitiveness, eliminate trade barriers, tackle anti-dumping legislation

A bird’s-eye view of the Chinese-funded Colombo Port City, which is under construction. An explosive New York Times new report this week shed light on alleged Chinese involvement in Sri Lanka’s domestic politics, and the International Mon

Sri Lanka’s economic growth is expected to rebound this year to around 4.3 percent in the medium term, the World Bank (WB) said yesterday, while giving the island nation a stable outlook provided that the government maintains momentum in its re

As appreciating U.S. dollar is testing the resilience of many emerging and frontier markets this year, Sri Lanka stands among the most vulnerable economies for the dollar’s rising phenomenon, 

Defending his senior-most official, the Central Bank Governor Dr. Indrajit  Coomaraswamy yesterday dismissed the allegations levelled against Senior Deputy Governor Dr. Nandalal Weerasinghe by former Finance Minister Ravi Karunanayake. 

The hefty provisions made against possible bad loans eroded an otherwise good performance at Cargills Bank, as the lender increased its top line and expanded its loan book during the first three months of the year. 

(Colombo) REUTERS: Sri Lankan shares declined for a fourth straight session yesterday and posted their lowest close in nearly 15 months, as foreign investors continued to offload th

Sri Lanka is sleepwalking into a Rajapaksa dynasty characterized by illiberal democracy, state-dominated inefficient capitalism and ethnic chauvinism, after a failed test of good governance by an unholy coalition of left and right wing parties for th