Fitch Ratings has assigned Seylan Bank PLC’s (A-(lka)/Rating Watch Negative (RWN)) proposed Sri Lankan rupee-denominated Basel III-compliant subordinated debentures of up to Rs.7 billion an expected National Long-Term Rating of ‘BBB(EXP)(lka)’

The European Central Bank will next year test eurozone lenders’ defences against cyberattacks, a top official said yesterday, as the risk of hacking attempts is seen to have increased since the pandemic and Russia’s invasion of Ukraine.

Germany yesterday presented controversial plans to ban the installation of new oil and gas boilers from 2024 to speed up the switch to renewable technologies.

Sri Lanka’s most awarded plantations company, Hayleys Plantations, recently hosted US Ambassador to Sri Lanka Julie Chung on an exclusive tour of its Pedro estate in Nuwara Eliya.

Anka EnergyX, a sustainable energy company in Sri Lanka, has teamed up with Harnyss USA, a global leader in cutting-edge hydrogen energy storage technologies, to introduce smart grids to small and medium-sized enterprises (SMEs) in the country.

Comfort World International, a science-led bedding manufacturer, announced its partnership with Abhaye Seychelles to bring its high-quality bedding solutions to the Seychellois market.

Fazla Meyen, Managing Directress of Edutoys (Pvt.) Ltd, a company dedicated to providing premium quality and unique educational toys, was awarded Silver under the start-up category, at the recently concluded WCIC Prathibhabhisheka award ceremony.

The latest high-tech manufacturing facility of Lanka Bio Fertilizers (Pvt.) Ltd, located in Millewa, Horana, was recently opened by Agriculture Minister Mahinda Amaraweera.

Sri Lanka could get the opportunity to increase the export of its coconut-based products in the near future, as international companies are moving away from procuring from Thailand— a key supplier— due to the usage of monkey labour.

SriLankan Airlines celebrated the power of women in the airline with a flight operated by an all-female crew on International Women’s Day 2023, which fell yesterday.

Sri Lanka voiced hope yesterday that a long-awaited International Monetary Fund (IMF) bailout would be finalised soon and help unfreeze billions of dollars in foreign aid for projects suspended since last year.

President Ranil Wickremesinghe addressing the International Women’s Day national celebration held yesterday said three women were instrumental in helping Sri Lanka during its troubled period.

The Cabinet nod has been granted to set up an expert committee to avert a crisis in the financial sector, stemming from the ongoing economic crisis.

Thirteen of the leading companies listed on the Colombo Stock Exchange (CSE) have pledged their support to increase women’s representation at both their management and board levels.

The Sri Lankan rupee, which gained briskly in the last couple of weeks over the hopes of the island nation securing a deal with the International Monetary Fund (IMF), may resume declines by the end of 2023 and is likely to lose a fifth of its value,

The bold decisions taken by the Indian Government have helped Sri Lanka in overcoming the economic crisis and moving closer to securing a much needed International Monetary Fund (IMF) bailout.

President Ranil Wickremesinghe yesterday expressed confidence in Sri Lanka’s female population supporting the government’s reform programme where efforts are underway to rebuild the collapsed....

The Clean Clothes Campaign (CCC), the garment industry’s largest alliance of labour unions and non-governmental organisations, called on major brands sourcing apparel from Sri Lanka to take responsibility....

People’s Bank yesterday announced the results for its year ended December 31, 2022 (FY22) with total consolidated gross revenues, total operating income, and pre-tax profit amounting to Rs.391.2 billion....

For the first time in its long history, one of Sri Lanka`s renowned global brands ‘Lion Beer’ successfully unveiled its presence in the Indian market. As an initiative....

The Central Bank yesterday announced the demise of former Central Bank Governor H.B. Dissanayake. He passed away at the age of 85 on 05th March 2023. Dissanayake functioned....

The Chillington Tool Company Limited, a global leader in manufacturing agricultural and farming tools, has been granted an enjoining order by the Commercial High Court of Colombo against A. R. Trading, a wholesale....

The ASPI closed in green as a result of price gains in counters such as Vallibel One, Hatton National Bank and Sampath Bank with the turnover crossing Rs. 3.4 bn. A similar behaviour....

The tourism and hospitality landscape in Nuwara Eliya, known as Little England, will see the addition of a unique luxury property this year, with the Board of Investment (BOI)-approved Horton Heights setting....

A delegation from Sri Lanka participated in the BIOFACH Trade Fair, the world’s largest annual organic food products trade show held from February 14-17, 2023, in Nuremberg, Germany. This annual trade...

Hambantota International Port’s (HIP) industrial park will expand its industrial park’s scope to include 90+ diverse industrialised classes within its dedicated free trade zone. Several new categories....

Oceanpick, Sri Lanka’s pioneering oceanic fish farm, has enhanced its partnership with Pacific West Foods, initiating retail trade in Australia. Having served Australia’s food....

LankaPay, the operator of Sri Lanka’s national payment network, announced the fifth edition of LankaPay Technnovation Awards, Sri Lanka’s pioneering and the only payment technology innovation...

The Commercial High Court (CHC), presided over by High Court Judge Pradeep Hettiarachchi, recently confirmed that it had received evidence obtained for it by the Supreme Court of Singapore under the very first request for foreign judicial assistance

The Central Bank said it was overserving a trend where large amounts of foreign currency, which had been stashed away, now being released, further increasing the supply of dollars to the market and thereby strengthening the rupee.