Standard Chartered Global Research in an economic alert yesterday said the Central Bank is likely to maintain the status quo at its March 4 monetary policy meeting amid inflationary pressures.

The Central Bank of Sri Lanka (CBSL) is expected to raise rates for the second time this year on Friday, as a sharp surge in domestic inflation and a continuing foreign exchange crisis threaten to further derail the domestic economy.

President Gotabaya Rajapaksa has assured the Public Utilities Commission of Sri Lanka (PUCSL) that all necessary action will be taken immediately to avert the electricity crisis prevailing in the country.

The Public Utilities Commission of Sri Lanka (PUCSL) this week blamed the misguided financial management of the Central Bank (CB) for the current power crisis, as it explores legal actions to secure US $ 150 million required to import fuel to power t

Sri Lanka’s apparel exports in January 2022 achieved the highest level for that month in the last five years. This performance demonstrates the industry’s underlying strength, as it bounced back from the sustained shocks from the impact of the pa

The Ceylon Chamber of Commerce (CCC) yesterday expressed serious concern about the adverse effects brought on its members and all sectors of the economy in general as a result of the ongoing interruptions to the supply of electricity coupled with the

Marking a key milestone in its efforts to engage in sustainable development and drive excellence in ESG reporting, Hayleys PLC officially signed on as a member of the Global Reporting Initiative (GRI) South Asia Charter on Sustainability Imperatives.

OPEC+ oil producers meeting yesterday do not plan to accelerate output rises, according to a draft deal seen by Reuters, as Saudi Arabia and the United Arab Emirates recommit to a deal with Russia even as crude prices rocket higher.

The tourist arrivals to Sri Lanka for the month of February topped 96,000, recording an increase of 17 percent from the previous month.

The government has decided to extend visas of 15,456 Russian and Ukrainian tourists in Sri Lanka for a period of two months free-of-charge due to the on-going conflict between Ukraine and Russia.

The Cabinet nod has been given to transfer over 111 acres of land to State-owned National Paper Company Limited on a 30-year lease to restart operations of the country’s second oldest paper mill Embilipitiya paper factory as a joint venture with Ko

United Arab Emirates (UAE)-based OQ Trading Limited owned by the Government of Oman has won a long-term contract to supply 1.8 million barrels of petrol (92 Octane) for a period of 8 months.

China Machinery Engineering Corporation (CMEC) has secured a bid to design, supply and install transmission lines and sections under the Package No.04 of the Asian Development Bank (ADB) funded US$ 119 million ‘Supporting Electricity Supply Reliabi

IFC has appointed Lisa Kaestner as the new Country Manager for Sri Lanka and Maldives.

Moving further away from the policy of promoting organic agriculture, the government has decided to import 38,500 MT of muriate of potash fertiliser and to distribute among paddy farmers under the government’s fertiliser subsidy programme for the

Sri Lanka plans to develop one of the seven islands in the North as a duty-free hub in collaboration with a group of Indian investors, Northern Province Governor Jeevan Thiyagarajah said.

The foreign exchange crunch and the drop in local harvest weighed on the performance of Ceylon Grain Elevators PLC as the company saw its revenues decline and costs escalate in the three months to December 2021 (4Q21) prompting it to curtail producti

Sri Lanka Association of Manufacturers and Exporters of Rubber Products (SLAMERP) yesterday requested the government to provide continuous power for export industry factories as production is getting interrupted due to the ongoing power cuts.

The Sri Lanka Institute of Directors (SLID) recently launched its Young Directors Forum (YDF) with the aim of grooming young talent to take up positions in the boardrooms of corporate Sri Lanka as well as in the public sector/State-Owned Enterprises.

Directors of M/S Zeitgeist based in Lahore, Pakistan a well-established high quality garment export company recently visited the Board of Investment of Sri Lanka with the objective of exploring opportunities for investment in Sri Lanka in the apparel

The 114th birth anniversary of Deshamanya N.U. Jayawardena, Senator, first Sri Lankan Governor of the Central Bank, and financier, was commemorated by the staff members of MMBL-Pathfinder and the Pathfinder Foundation.

LDM Technologies (Pvt) Ltd, a rising name in the field of CAD and CAM Solutions in the apparel industry, received the Silver Award for the best service provider in the microcategory service sector at the Industrial Excellence 2021 Awards organized by

Royal Cashews won the Best Ethically Trading Exporter 2021 NCE Challenge Trophy - Special Award for the first time at the National Export Excellence Awards organized by the National Chamber of Exporters, establishing themselves as the best export org

Softlogic Retail (Pvt) Ltd., a fully owned subsidiary of Softlogic Holdings PLC, launched its all-new range of aesthetically appealing and energy-efficient air conditioners under the MAXMO brand on February 27, at all Softlogic and Softlogic Max show

Sri Lanka@100 hosted a webinar featuring Tiffani Bova, author of the Wall-Street Journal-bestselling book Growth IQ, to inspire mid-market companies with insight into sustained business growth.

Showcasing a strong financial position and dominant market share of the local cable industry with strong brand equity, ACL Cables PLC’s credit rating was upgraded with a [SL] AA- Stable outlook recently according to ICRA Lanka Limited, a Group Comp

State-owned banking giant Bank of Ceylon (BOC) was able to reiterate its position as the undisputed market leader in Sri Lanka’s banking sector with a robust financial performance for the year 2021.

Despite the persisting economic troubles and possible negative impacts that could stem from the Ukraine crisis, the Colombo bourse yesterday bounced back significantly from the record losses incurred over last week amid high retail investor activity.

The Labour Ministry has commenced discussions with the World Bank (WB) and International Labour Organisation (ILO) to find avenues to fund the proposed social security and pension scheme for the private sector employees.

The Central Bank yesterday sought the assistance of the public to crack down on unauthorised money changers emphasising that any person or organisation engaging in foreign currency transactions without the Central Bank permission is an unlawful activ