The Federal Reserve is expected to deliver two back-to-back half-point interest rate hikes in May and June to tackle runaway inflation, according to economists polled by Reuters who also say the probability of a recession next year is 40 percent.

Promoting inventions that support climate action is a key CSR initiative of NDB Bank. The bank embarked on this initiative by engaging with the Sri Lanka Inventors Commission (SLIC), which introduced the inventors to the bank.

Laugfs Supermarkets are rewarding their customers with exciting offers this Avurudu season.

Eric Rajapakse Opticians, Sri Lanka’s leading eyecare specialist with over 100 years of expertise, is lighting up the Avurudu season with special offers for credit card holders of several leading banks.

Malindu Dairy (Pvt.) Ltd, one of the leading local food production companies in Sri Lanka, won the Bronze award in the large-scale dairy and associated products category, at the Industrial Excellence Awards organised by the Industrial Development Boa

Following delays running into weeks, the Finance Ministry has finally called for Requests for proposals (RFPs) from reputed global firms to appoint financial advisors and legal consultants to support the country’s sovereign debt restructuring exerc

The Monetary Board, which met on Friday, removed the ceiling rates applicable on certain administratively managed lending products such as credit cards, pre-arranged temporary overdrafts and pawning facilities with the effective date to be announced

Sri Lanka has requested a meeting with the International Monetary Fund (IMF) today (April 11) as a precursor to the Spring Meetings starting next week where a delegation led by new Finance Minister Ali Sabry would fly to Washington D.C. to begin in p

The female corporate directors have stepped forward in urging the government to address the ongoing crisis so that an economic catastrophe can be averted.

Central Bank Governor Dr.Nandalal Weerasinghe yesterday welcomed the decision by the two appointed members to the Monetary Board, Dr. Ranee Jayamaha and President’s Counsel Sanjeewa Jayawardena to continue as the members of the country’s policy r

Signalling a clear bias for action, the newly appointed Central Bank Governor, Dr. Nandalal Weerasinghe told reporters last Friday that his plan is to run parallel talks with the bondholders and the International Monetary Fund (IMF) for both debt res

Sri Lanka will need about US$ 3 billion in external assistance over the next six months to help restore supplies of essential items including fuel and medicine, Finance Minister Ali Sabry told Reuters last weekend.

In a mission to provide emergency relief to the worst impacted families and communities in the country, due to the ongoing economic crisis, Dialog Axiata PLC, MAS Holdings, Hemas Holdings PLC, Sarvodaya Shramadana Movement and PwC Sri Lanka joined fo

People’s Bank’s ‘People’s Remittance Vaasi Kotiyai, Bonanza’ selected its first millionaire winner recently.

The Colombo Stock Exchange (CSE) announced that it has declared April 11 and 12, 2022 as market holidays, in view of the special public holidays declared by the government.

Sri Lanka’s foreign currency reserves were estimated at US $ 1,939 million by end-March, as the country lost US $ 372 million during the month, the latest data released by the Central Bank showed.

Twenty-three industry associations representing private sector firms engaged in the export, import and logistics industries warned of catastrophic consequences for Sri Lanka’s economy and the people, if the ongoing economic and political crisis was

The regional peers are starting to reap the benefits of the ongoing economic crisis in Sri Lanka, a development which threatens the island nation’s most established industries.

The business chambers in the country yesterday welcomed the appointment of two experienced professionals to the posts of the Central Bank Governor and Finance Ministry Secretary.

The national tea sales average for the month of March 2022 recorded Rs.848.08, establishing the highest ever recorded average for a calendar month, surpassing the previous best of Rs.725.63 recorded in the month of February 2022.

The ongoing massive economic turmoil has lost Sri Lanka its largest MICE event since the COVID-19 pandemic struck, which was due to arrive in the coming weeks, delivering a massive hit to the already struggling tourism sector.

A total of 5.3 MnKgs came under the hammer this week at the Colombo Tea Auction, an increase from the 4.8 MnKgs total offering from the previous week.

The Department of Census & Statistics Department (DCS) website remains inaccessible for over a week now as the country’s fuel shortages, prompted by the lack of foreign exchange, has hit its web servers.

The Colombo Chief Magistrate’s Court yesterday issued an order preventing former Central Bank Governor Ajith Nivard Cabraal from leaving the country until April 18.

Sri Lanka must look at restructuring a US$1 billion sovereign debt due for payment in July, the outgoing Finance Minister told parliament yesterday, urging an end to calls for a change in government amid the country’s worst economic crisis in decad

Dr. Nandalal Weerasinghe and K.M.M. Siriwardena received their appointment letters from President Gotabaya Rajapaksa last evening, as the new Governor of Central Bank of Sri Lanka and Finance Ministry Secretary respectively.

National Development Bank PLC is eying expansion opportunities in the region after it delivered some solid performance during both 2020 and 2021 with robust growth in its asset base, capital profile, liquidity and returns to its shareholders.

Fitch Ratings last week assigned ‘AA’ rating to Hela Apparel Holdings PLC with a ‘Stable’ outlook, but cautioned that the ongoing power crisis could hit the apparel maker’s Sri Lankan operations which account for 50 percent of its revenues.

The Chamber of Young Lankan Entrepreneurs (COYLE) has voiced its concern regarding the inability of many businesses to sustain their regular functions due to the prevailing situation in the country.

Sharp increase in key policy rates as advocated by some analysts could send ripple effects through the financial markets by way of mass scale defaults, demand destruction and thus forcing people from frying pan into the fire as it will increase pover