Total offering at the Colombo Tea Auction this week increased to 5.8 MnKgs, from the 5.0 MnKgs that came under the hammer the previous week.

Tea production for 1Q22 contracted by 15 percent year-on-year with March output totalling 22.02 MnKgs.

Top oil exporter Saudi Arabia may cut prices for crude grades sold to Asia in June after benchmarks slumped from records in the previous month as COVID lockdowns curbed demand in China, the world’s biggest crude importer, traders said yesterday.

Social unrest, political uncertainty and a complex web of creditors could scupper Sri Lanka’s push for a swift overhaul of its US $ 12 billion overseas debt, analysts warn, saying the South Asian nation is fast running out of road.

Tourist arrivals for the first three weeks of April have declined significantly when compared to previous months, indicating that greater challenges are ahead for the tourism and hospitality sector.

Indonesia widened the scope of its export ban on raw materials for cooking oil to include crude and refined palm oil, its chief economic minister said on Wednesday, leaving markets in shock over the latest policy reversal.

Falling victim to the sudden float of the rupee, Sri Lanka’s poultry industry leader Ceylon Grain Elevators PLC (GRAN) faces a staggering Rs.2.75 billion in exchange losses.

Standard Chartered posted a forecast-beating 6 percent rise in first-quarter profit, sending its shares sharply higher, as the emerging-markets-focused lender benefited from rising interest rates aimed at controlling inflation.

The National Chamber of Exporters (NCE) called on the authorities to focus on the tax mechanisms in the country, so that higher revenues can be fetched for the economy, specially in the current juncture. The export chamber emphasised the need for in

In an effort to increase the flow of foreign currency into the country, the National Chamber of Exporters (NCE) suggested the government to bring in supportive export regulations.

National Development Bank PLC (NDB) was awarded the coveted Bank of the Year Sri Lanka title as adjudged by Global Finance USA for the year 2022 in its 29th edition of awards for the world’s best banks.

First Capital Research (FCR) this week said the bond yields might have found their peak by now and could stabilise from the next quarter, potentially leaving behind the worst of the economic crisis by the end of the first half of this year, which wou

Amid the ongoing economic crisis in Sri Lanka, HCL Technologies said that it has not seen any business impact on its deliverables or any slowdown in hiring in the region.

Overseas Realty (Ceylon) PLC recorded a steady growth in revenue and profitability, primarily driven by the Havelock City Residential sales, to record a group revenue of Rs.7,051 million and a group profit before tax of Rs.2,936 million for the first

The loans and leases under payment holidays fell below 10 percent in most banks and below 15 percent in a couple of others by 2021, when the broad-based moratoria scheme came to an end, except for the tourism sector, which prevails through June 30, 2

The Treasury bill yields at the primary auction held yesterday continued to moderate for the second week in a row, after the sharp correction on April 11, when the Monetary Board delivered an unprecedented 700 basis-point hike in key policy rates on

Latest in a series of rating actions in the last two weeks, Fitch Ratings this week placed 12 non-bank financial institutions (NBFIs) under Rating Watch Negative (RWN), with a greater likelihood of multiple-notch rating downgrades when they come up

Hemas Holdings PLC will be able to endure the pressures stemming from the current foreign exchange and macro-economic challenges, due to its defensive cash flows coming from its key business segments but the growth in revenues would slow down and the

China is about to embark on a new infrastructure spending spree in a bid to fix an economy nearing breaking point because of COVID lockdowns.

With the Sri Lanka Tourism Development Authority (SLTDA) leadership continuing to criticise the Sri Lanka Association of Inbound Tour Operators (SLAITO) chief, the members of the association yesterday said they stand by their president.

The Renewable Energy Associations that include small hydro, wind, solar and biomass power developers and also Solar Industries Association of Sri Lanka,

Sri Lankan rubber prices have reached an all-time high, with top latex crepe rubber prices having hit Rs.1,000 per kilogram at the Colombo auctions this week.

Sri Lanka Ports Authority (SLPA) has decided to collect all possible income through navigation, stevedoring and income from terminals from shipping lines in US dollars instead of Sri Lankan rupees with effect from June 1, 2022, Ports and Shipping Min

Sri Lanka must tighten monetary policy, raise tax and adopt flexible exchange rates to address its debt crisis, a senior International Monetary Fund (IMF) official said yesterday.

In an attempt to increase foreign exchange inflows into the country, the Cabinet nod has been granted to further simplify current residence visa issuance methodology for foreign investors.

The government has decided to further extend visas of Russian and Ukrainian tourists in Sri Lanka by another two months free-of-charge due to the on-going war between the two countries.

Despite the Sri Lankan government’s announcement on a pre-emptive default on the country’s external debt, China prefers to re-finance its debt to Sri Lanka instead of engaging with an International Monetary Fund (IMF) -backed debt restructuring p

Diversified engineering company Luminex Limited yesterday announced its decision to postpone its Rs.250 million IPO, which was scheduled to open for subscription yesterday.

In order to enable priority sectors to directly import fuel under a new licensing system, the Cabinet has green-lighted a proposal to amend the Petroleum Products (Special Provisions) Act, No. 33 of 2002 to make required legal provisions.

The Free Trade Zone Manufacturers’ Association (FTZMA) reiterated its concerns on the prolonged national catastrophe in the economy and asserted the need for measures to move forward, so the business community can stay afloat.