Sri Lanka’s economic growth will witness a leap in the near future, if efforts are taken to iron out issues and integrate innovation across all levels in three of its key sectors, assured leading global management consulting firm, McKinsey.

Hayleys Fabric PLC’s problems persisted in controlling direct costs and overheads as the knit fabric maker expanded losses during the quarter ended in March 2018 while the top line grew. 

Sunshine Holdings PLC said yesterday its board of directors resolved to raise Rs.775 million through a private placement deal with SBI Ven Holdings (Pte) Limited, which already holds a 10.99 percent stake in Sunshine as the third largest shareholder.

Balancing diplomatic relations and being open to all countries for investment has been a key achievement of the current government, remarked Development Strategies and International Trade Minister Malik Samarawickrama at a forum in Colombo yesterday

Singer Sri Lanka PLC emerged out of a temporary slump in demand as the country’s leading consumer durables retailer reported financial performance with higher revenues and profits for the quarter ended in March 2018. 

Insurance industry professional Chandana L. Aluthgama has been appointed as CEO of Sri Lanka Insurance Corporation Ltd with effect from May 3, 2018.  

The rapid shift towards data from voice services and intense competition inflicted pain on Sri Lanka Telecom PLC (SLT) as the March quarter profits and revenues showed some challenging operating conditions faced by the state-controlled telecommunicat

Sri Lanka’s largest shipbuilder, Colombo Dockyard PLC (DOCK), which operates in collaboration with Japan’s Onomichi Dockyard, which owns 51 percent of the company, reported a net loss of Rs.120.3 million for the March quarter (1Q18), as t

REUTERS: Iran has agreed to build a new oil refinery for Sri Lanka in addition to upgrading its ageing 50,000 barrel per day (bpd) state-owned refinery,  Sri Lankan cabinet spokesman Rajitha Senaratne said yesterday.

I would like to thank Derrick Olsen for the kind introduction and thank WorldOregon for hosting this wonderful event today. 

The financial sector is under increasing pressure from many stakeholders to manage the regulatory compliance and the associated risk more effectively. With the advent of the Basel lll regime, as well as the restrictions laid down by the regulators, t

As fears continue to grow concerning China’s role in Sri Lanka’s development agenda, an industry influencer yesterday pointed out that the mega Belt and Road Initiative (BRI) paves the way for local sm

Sri Lanka’s monopoly cigarette player, Ceylon Tobacco Company PLC (CTC) saw its net profit for the March quarter (1Q18) increasing little over half a billion rupees with a surprising 11 percent year-on-year acceleration in volumes.

The profits at People’s Leasing & Finance PLC (PLC) nearly doubled during the March quarter (4Q18) largely on higher margins, other incomes and lower operating costs as the loan book growth moderated. 

Commercial Bank of Ceylon PLC (ComBank) recorded higher top and bottom line gains during the quarter ended in March 31 (1Q18), as Sri Lanka’s largest private lender by assets expanded its loan book quite substantially and improved margins. 

Professionals led by Sri Lanka Engineers Association (SLEA) and United Professional Movement (UPM) and backed by the Organisation of Professional Associations of Sri Lanka (OPA) and the influential government Medical Officers’ Association (GMOA

Sri Lanka has been ranked among the most vulnerable economies exposed to interest rate shocks over the next four years, due to the relatively short average debt maturities and weak debt affordability, ahead of the country’s bunched up external

Sri Lanka has expressed interest in establishing direct banking links with Iran. President Maithripala Sirisena, who this week completed a two-day official visit to Iran, had expressed this during the bilateral discussions with Iranian President Hass

Strong growth in new loans, higher margins and operational efficiencies helped Hatton National Bank PLC (HNB) to offset higher loan-loss provisions and trading losses in March, as the banking group reported robust growth in bottom line for  the

REUTERS: The Sri Lankan rupee hit a record low of 158 per dollar yesterday in thin trade after the Central Bank chief said the currency will depreciate gradually while exporters stayed away from the market expecting further weakness.

DealStreetAsia: Expanding its exposure in the region’s microfinance and financial services space, the International Finance Corporation (IFC), a member of the World Bank Group, has proposed to extend up to US $ 20 million local currency equival

REUTERS: Sri Lankan shares ended at a near five-week low yesterday, led by industrial shares such as John Keells Holdings, while foreign outflows and the recent fuel price hike weighed on sentiment, stockbrokers said.

The world is experiencing an unprecedented demographic transition – it is getting older. By 2025, 26 percent of the global population will be at least 65 years old.

The high cost of securing employment abroad is a barrier to cross-border labour mobility for low-skilled workers in developing countries. The migration cost is distributed among many stakeholders in the migration value chain. 

Over a period of time, with proliferation of internal operational data and external data banks, risk analysts, market intelligence, rating analytics and other agencies aiding risk management evolve innovative tools in banks to develop more robust res

Jetwing Symphony PLC was able to cut its losses for the quarter ended in March 2018 (4Q18) due to higher top line growth as three of its hotels in the portfolio making considerable revenue gains, which outpaced the increase in direct costs.  &nb

The synchronized improvement in all core business units helped Dialog Axiata PLC to record a healthy bottom line while the group is seen aggressively expanding into financial technology (fintech) space to further diversify its revenue 

REUTERS: Chinese, Middle East and Russian companies are in ‘preliminary discussions’ to build an up to US $2.7 billion, 100,000 barrel-per-day (bpd) refinery for Sri Lanka’s State-owned Ceylon Petroleum Corporation (CPC), the head o

The Central Bank expects a slowdown in motor vehicle imports to the country with the recent hike in fuel prices and depreciation of the rupee.

In response to concerns raised by some professional associations last week concerning the Sri Lanka-Singapore Free Trade Agreement (SLSFTA), the Development Strategies and International Trade Ministry in a detailed response said the movement of natur