The board of directors of Nations Trust Bank PLC (NTB) has decided to raise up to Rs.44 billion via an unlisted, rated unsecured, senior, redeemable debenture issue.

Sri Lanka’s hard-hit apparel sector yesterday expressed serious concerns in the manner in which its buyer communities are treating the industry and stated it is saddening to note the “lack of partnership” shown by them during the ongoing challe

Vidullanka PLC, a pioneer in renewable energy development, successfully completed raising additional capital of Rs.253 million to fuel its expansion drive in the solar power sphere.

Shares of India’s Adani group companies trimmed losses yesterday after they said reports the National Securities Depository Ltd (NSDL) had frozen the accounts of three foreign funds that are among the top stakeholders in the firms were erroneous.

Bahrain has stopped issuing new work permits to citizens of Sri Lanka along with India, Pakistan, Bangladesh and Nepal, which have been placed on the ‘red list’ amid domestic lockdown as part of anti-coronavirus measures, a media report said.

The consumer prices are surging at exponential levels, as lockdown-styled restrictions on wide swathes of economic activities have crippled supply chains in almost every sector, leaving the hapless consumers to contend with sky-high prices for even t

The non-life insurers, which saw their profits improving in 2020, due to record low claims among other favourable performance matrices, are poised for a decline in profits from the rising claims from both motor and medical sectors, while the weakenin

The much hyped Fuel Price Stabilisation Fund (FPSF) set up to do exactly what its title suggests, that is to stabilise fuel prices at the pump against the volatile global oil prices and to safeguard the consumer,

The Central Bank last week indicated its intention to re-enter into a swap line for US$ 400 million to shore up country’s foreign reserves, which are increasingly running thin amid the impending crisis brewing in the country.

Prices of all confectionary items and products will increase by about 8 to 10 percent starting this week, Mirror Business learns, as the cost of production has expanded by many folds.

The Central Bank last week slashed Sri Lanka’s growth for this year from 6.0 percent to below 5.0 percent as virus restrictions are taking a massive toll on the economy with thousands of businesses going out of business, while many millions more wh

The remittance income from Sri Lankans working abroad has continued to plough ahead amid the brewing economic crisis at home as global economies are advancing with the ease of virus restrictions.

Sri Lanka lost nearly half a billion dollars in foreign exchange reserves in May, losing nearly the entirety of the loan proceeds received from the China Development Bank in April.

Malaysia Airlines will operate limited service with 85 percent reduction across its network during the Movement Control Order (MCO), from June 1 to 14, 2021.

US inflation surged in April from a year earlier as the economic recovery picked up.

The Colombo City Centre Residences project is the most celebrated living space in Colombo, especially during the prevailing conditions and circumstances in the country. The residents at Colombo City Centre (CCC) expressed that it is extremely conveni

The Sri Lanka Institute of Tourism and Hotel Management (SLITHM) has entered into a memorandum of understanding (MoU) with EHL Advisory Services Llp, to conduct a gap analysis study in Sri Lanka, with the aim to improve the quality of tourism educati

Switzerland could become the first European country to ban artificial pesticides in a June 13 referendum, which backers of the initiative hope will trigger similar prohibitions elsewhere.

An increasing number of children are at risk with global child labour figures expanding by 8.4 million within the last four years, the International Labour Organisation (ILO) warned.

Chairman of tourism-heavy Aitken Spence PLC, Harry Jayawardena called for a wage subsidy model from the government to safeguard the livelihoods of nearly half a million people employed in the leisure industry, which has been dealt a double whammy—f

Sri Lanka’s oldest non-bank financial institution (NBFI), Alliance Finance Company (AFC) PLC warns that the recent amendment with regard to the classification of non-performing loans (NPLs) in the NBFI sector would lead to a significant contraction

Virtusa Corporation, this week announced the appointment of Santosh Thomas as its new Chief Executive Officer (CEO).

Chinese Ambassador to Sri Lanka Qi Zhenhong, in his remarks to Sri Lanka Investment Forum has suggested Sri Lanka to create a better policy framework in order to attract foreign investments to the country.

The government called for greater support for the ongoing Port City development since it is acknowledged to be the key to Sri Lanka getting its macroeconomic fundamentals right.

The global crude oil prices have gradually passed the US$ 70 a barrel and are advancing further, worsening the external and economic crisis brewing in Sri Lanka.

At least two development finance institutions (DFI) have expressed interest in participating in Sanasa Development Bank’s (SDB bank) upcoming Rs.4.53 billion secondary public offering (SPO), which is likely to be the last capital raising endeavour

The Cabinet of Ministers this week approved a programme to beautify hundred cities, with the assistance of all state institutions and all other parties entrusted with the supply of infrastructure facilities.

The Cabinet of Ministers this week cleared a proposal to launch the organic fertiliser production pilot project across all Divisional Secretariat divisions in the North Central Province (NCP), drawing capital from the Land Reform Commission Fund, as

The country’s tourism sector is lobbying the government to get the interest component of their loans waived off during the period of moratorium, as the industry sees no light at the end of the tunnel with the latest round of restrictions imposed si

The Information and Communication Technology Agency (ICTA) expects the banking sector to boost lending to worthy tech companies by adopting the recently introduced Credit Evaluation Framework in their credit evaluation and approval process, when lend