Ceylon Hotels Maldives (Pvt.) Ltd, a unit of Sanjeev Gardiner-controlled Ceylon Hotels Corporation PLC (CMHL), has decided to divest its 50 percent stake in the joint venture (JV) resort project located on the island of Ambara, in Vaavu Atoll, in the

The Central Bank of Sri Lanka (CBSL) yesterday announced its decision to permit the failed non-bank financial institution Swarnamahal Financial Services PLC (SFSP) to resume business for a limited purpose, on a conditional basis.

The Court of Appeal has issued a writ of mandamus against the Secretary to the Treasury and the Compensation Tribunal to pay the Seylan Bank PLC a sum of Rs.96.6 million over a mortgage loan granted under the Revival of Underperforming Enterprise or

The government plans to increase fuel prices based on a suitable methodology following discussion with the Finance Ministry, Ceylon Petroleum Corporation (CPC) and other key stakeholders.

The final session at the upcoming Sri Lanka Retailers Forum 2021 will be an experience sharing panel discussion on how brick and motor stores and digital businesses have adapted to disruption brought about by the pandemic.

Leading Sri Lankan corrugated carton manufacturer, Ex-Pack Corrugated Cartons Limited, successfully concluded its virtual investor forum and event for analysts, as the company prepares to go public.

SLASSCOM recently unveiled its Environmental, Social and Governance (ESG) initiative in collaboration with the United Nations in Sri Lanka and Global Compact Network Sri Lanka.

The government has appointed a committee led by the Secretary to the Ministry of Plantation, Rawindra Hewavitharana to decide on a suitable source and other details to provide nitrogenous fertilizer in liquid form for the country’s tea sector amids

Agriculture Minister Mahindananda Aluthgamage is expected to announce a mechanism for organic fertilizer distribution among paddy farmers in a bid to address the fertilizer shortage for the Maha Season cultivation following the ban on chemical fertil

The Court of Appeal yesterday reserved for November 3 to deliver its order regarding the preliminary objections raised by newly appointed Central Bank Governor Ajith Nivard Cabraal and Attorney General challenging the maintainability of the writ peti

The Cabinet has cleared a draft bill to increase the existing minimum retirement age limit of private sector employees to age of 60 and to present the same in Parliament for the approval.

Sri Lanka’s government bonds suffered their biggest drop in nearly seven weeks yesterday after the Central Bank scrapped a plan to buy back a chunk of the country’s debt on the cheap after default fears pounded prices.

With a vast majority of bondholders of Sri Lanka’s January and July 2022 International Sovereign Bond (ISB) issuance are determined to hold the ISBs to maturity, the Central Bank (CB) has scrapped the proposed ISB buy-back initiative, announced rec

Canadian David Card, Israeli-American Joshua Angrist and Dutch-American Guido Imbens yesterday won the Nobel Economics Prize for insights into the labour market and “natural experiments”, the jury said.

Oil prices surged again yesterday, extending the multiweek gains as an energy crisis gripping major economies shows no sign of easing amid supply restraint from the major producers.

Sri Lanka is likely to see the national roll-out of the digital identity next year, providing every citizen with a unique identification (UID), potentially ending the endless time waste and hassles the citizenry and businesses undergo in their everyd

The rising funding costs and long shadow casted over the economy, due to the pandemic, may slow the pace of bank credit to the private sector and could upend the balance sheets of banks, according to ICRA Lanka Limited.

Sri Lanka’s tea industry will soon have access to chemical fertilisers, with the government having decided last week to allow the stakeholders to import the necessary boosters and stimulants under a licensing system,

Banks kept their lending taps wide open during August, making the most amount of credit to the private sector in a single month in years in a possible sign that businesses and people raced to borrow to lock in low cost funds when the rates were still

Credit card spend by Sri Lankans bucked the two-month long contraction, swinging to a sharp increase in July, days after the country removed month long restrictions in June in what appeared to be a reflection of some semblance of economic normalcy wh

The payment relief afforded to borrowers of finance and leasing companies affected by pandemic-induced economic hardships were granted with a further six month extension through March 2022, with the options for facility restructuring for longer perio

The Bandaranaike International Airport, Katunayake (BIA) has implemented a comprehensive digitalizing project to facilitate a smooth flow of passengers so that travellers are able to obtain airport services without hassle.

The apron area development project at the BIA, which will increase the aircraft parking facility, is slated to reach completion by November 2021.

David Pieris Holdings and Avonet Technologies announced the launch of a new joint venture that will power Affiniti FinTech Solutions and accelerate its global expansion.

Sri Lanka’s tourism landscape will receive the much needed international spotlight next year with the world’s biggest female adventure challenge, ‘Raid Amazones’ held in the island nation.

Sri Lanka’s foreign exchange reserves, which recouped part of the lost assets during August through inflows from the International Monetary Fund (IMF) and the currency swap with Bangladesh Bank, lost about a billion dollars in September as the gove

The Institute of Certified Management Accountants of Sri Lanka (CMA) will conduct another knowledge sharing Continuing Professional Development virtual webinar on ‘New Securities and Exchange Commission of Sri Lanka Act no 19 of 2021’ tomorrow fr

Celebrating the success of its inaugural virtual AGM that took place on September 24th, Sri Lanka Gem and Jewellery Association (SLGJA) announced the election and appointment of their new Chairman Ajward Deen.

The Central Bank yesterday said following the recommendations of a Working Committee appointed to study and suggest new remittance channels to Sri Lanka, it has decided to implement the ‘SL-Remit’ mobile application to attract more remittances to