The spread between Sri Lanka’s market lending and deposit rates had already been widening in the run-up to August, a trend which only got more pronounced from the rate hike in the latter part of that month, sending the lending rates higher much fas

JAT Holdings PLC recently announced the appointment of Gaurav Jain as the company’s new Director International Business Development.

Teejay Lanka PLC has announced the appointment of Masaru Okutomi, Chairman and CEO of Pacific Textile Holdings Limited of Hong Kong, as a Non-Executive Director of the company, with immediate effect.

Bespoke luxury fashion brand Kelly Felder yesterday announced that it would become the first major brand in the country to accept crypto currency through the 10-year-old, leading blockchain payment provider BitPay. “As the digital age evolves, we

Magicbit, an easy-to-use STEM education platform, announced that it has raised US $ 120,000 in its pre-seed financing round led by Sri Lanka’s Angel Fund.

Sri Lanka’s Board Of Investment (BOI) is confident of surpassing US$1 billion mark in foreign direct investment (FDI) quite comfortably in 2022 with large inflows of several big-ticket projects—excluding Colombo Port City—are in the pipeline to

While some have welcomed the recent removal of price controls on selected essential goods in an attempt to address supply shortages, a top economist pointed out that low income earners are impacted disproportionately by the price adjustments as the g

State borrowings from the Central Bank and commercial banks rose substantially during August, notwithstanding the easing from a month earlier caused due to the billion-dollar bond repayment in July.

Although outstanding credit balances advanced only a little in August, robust demand prevailed for private sector credit, which also encompassed the spending made via credit cards, the data showed.

CIC Holdings PLC maintained the momentum it gained during the pandemic, as the diversified conglomerate delivered strong revenues and profits across its multiple business units in the three months ended in September 2021 (2Q22).

The upcoming mega Port City Colombo project, Sri Lanka’s first multi-services special economic zone (SEZ), will bring significant positive effects to the economy, where the new legislation and the implementation of the proposed plans will bring ove

Symbolising its role as the National ICT Solutions Provider and committed to lead Sri Lanka towards the next phase of its digital revolution, SLT-Mobitel laid the foundation stone for Mobitel’s technologically advanced new headquarters building in

Making Global Goals Local Business (MGGLB) Sri Lanka hosted by Global Compact Network Sri Lanka will be held virtually this week (October 27th and 28), bringing together the largest and most diverse line-up of speakers over ten sessions.

Jason Avanceña appointed Managing Director of Nestlé Lanka PLC effective October 1, and will lead Nestlé’s operations in Sri Lanka and the Maldives. He takes over from former Managing Director, Fabrice Cavallin, who moved to Switzerland as par

Samsung brings its latest updates and features through Samsung Members, a platform that bring together all Samsung Galaxy users.

Sri Lanka’s first-ever eSport Formula One (F1) Championship ended recently as a roaring success, with Seylan Bank as the Official Banking Partner.

Chem-Trend, a global leader in the design, development, and manufacturing of high-performance release agents, purging compounds, and other ancillary molding products recently celebrated a decade of outstanding success in Sri Lanka with ambitious plan

Dialog Axiata PLC recently announced the pre-order availability for the latest 5G-ready iPhone 13 mini, iPhone 13, iPhone 13 Pro and iPhone 13 Pro Max devices. Dialog’s offering of VoLTE, VoWiFi (Wi-Fi Calling) and eSIM capabilities are the perfect

Access Engineering PLC (AEL), the foremost civil engineering company in Sri Lanka, expanded its asphalt manufacturing plant operations by establishing a new asphalt plant at Daniston Estate in Horawala, Matugama recently, in addition to the asphalt p

Dr. Cornelius Boersch called on Board of Investment (BOI) Chairman Sanjaya Mohottala, as part of his visit itinerary in Sri Lanka.

The government sounded optimistic this week in the local tourism sector and aviation industry gathering steam to witness a fast-tracked recovery as several “positive” developments are taking place, which would allow the nation to reap the much-ne

Sri Lanka must step up efforts and act fast in addressing climate change as failing to do so would result in more falling into poverty, a session by the United Nations Development Programme (UNDP) on leveraging green financing for development highlig

Labour Minister Nimal Siripala de Silva has assured the Ceylon Bank Employees Union (CBEU) to take swift measures to safeguard the rights of the banking sector employees amidst multiple reports on their right violations by the employers.

The Central Bank will soon meet with the Credit Information Bureau of Sri Lanka (CRIB) and the banking sector to see how to facilitate borrowers who are seeking to obtain new facilities but unable to do so due to a soured credit scores caused predomi

Ex-Pack Corrugated Cartons (Pvt) Ltd. has decided to amend its claim on “market leadership” from its IPO prospectus to end the dispute fueled by Lanka Corrugated Carton Manufacturers Association (LCCMA) disputing the firm’s market leadership, a

First Capital Treasuries PLC, Sri Lanka’s leadingnon-bank primary dealer recently announced the firm’s intention to enter an Initial Public Offering (IPO).The IPO is scheduled for November 2021 subject to regulatory approval.

Oil hit a three-year high above US$ 86 a barrel yesterday driven by tight supply and a global energy crunch, although prices eased as some investors took profits on signs the rally is looking overstretched.

A complete overhaul in the country’s incentive and education systems is of paramount importance to reverse brain drain, which has been a nagging issue for Sri Lanka, a trend which became more pronounced in the recent past due to a combination of fa

At a time when global commodities prices are on the climb, global medical glove prices are on a reverse path, plunging to half the levels from the 2021 first quarter, denting margins and thereby the profitability of local producers, but the weaker ru

Sri Lankan shares closed at a record high yesterday, driven by solid gains in financial stocks as equity markets reopened after a two-day holiday.