The Board of International Finance Corporation (IFC) has approved the proposed US$ 50 million financing facility for Sri Lanka’s MAS Holdings, to sustain its operations while preserving its workforce in the country.

Sunshine Holdings PLC yesterday said the International Finance Corporation (IFC) of the World Bank and its fully owned subsidiary, Sunshine Consumer Lanka Limited, have entered into a long-term loan facility of US$ 5 million subject to conditions.

National Development Bank PLC will be the first company in Sri Lanka to commence the development of a Video Know-your-customer (vKYC) as a part of the significant strides the bank has made in Sri Lanka’s fast evolving digital landscape.

Tourist arrivals to Maldives contracted in the month of May when compared with April, as it attracted a total of 64, 613 travellers.

The government will infuse as much as US$ 500 million to SriLankan Airlines during the next five years adding the much required capital to the national carrier, which is undergoing restructuring since last year, while retaining control under the Stat

As the disconnect between policymakers and the general public is only growing wider, World Bank (WB) Ex-Chief Economist (Acting) Dr. Shanta Devarajan stressed the need for Sri Lanka to bridge this gap so that it has a set of effective policies rolled

Sri Lanka’s struggling tourism sector could receive another major hit with the ongoing X-Press Pearl debacle not only leaving severe implications on marine biodiversity and ecosystem of the island nation, but also on the tourism sector, an industry

The capital market regulator, the Securities and Exchange Commission (SEC), has granted a one-month extension to listed companies to release financial statements, as requested by the Colombo Stock Exchange (CSE).

Cargills Bank Limited narrowed losses during the three months ended March 2021 (1Q21), as loans grew amid low interest rates and widespread optimism on future economic prospects, although the euphoria faded due to the resurgence of virus-related rest

The Cabinet of Ministers granted approval for state-owned SriLankan Airlines to move ahead with awarding ground handling service agents’ contracts at Bangkok International Airport and London Heathrow International Airport for a three-year period.

Top economist and senior banker Dr. Kenneth De Zilwa assumed duties as the fifth Chairman of LankaClear, after being appointed by Central Bank Governor Prof. W.D. Lakshman for a term of three years, effective from June 1, 2021.

The Cabinet nod was granted to award a Rs.220.8 million worth bid to Medmart Pharma (Pvt.) Ltd, to procure 32,000 vials of 100 mg/4 ml Denosumab injections to treat cancer patients.

Sri Lanka’s largest importer and supplier of LP gas, Litro Gas Lanka, is gearing up to establish an oxygen manufacturing plant and distribution network in Kerawalapitiya, to ensure the country does not fall short in its oxygen supply as it grapples

Access Engineering PLC reported stellar financial performance for the three months ended March 2021 (4Q21), due to the heavy demand for construction materials led by asphalt, for which the company commands the market leadership.

The Cabinet of Ministers this week granted approval to import the required carbonic fertilizer and natural minerals for 60 percent of paddy cultivations in the upcoming Maha season and 600,000 hectares of cultivated land of other crops in line with t

The Commercial Bank of Ceylon has once again been declared the ‘Best Bank in Sri Lanka’ at the 2021 FinanceAsia Country Awards, taking its place among global and regional giants adjudged the best domestic banks in their respective countries.

FoodBuzz Pvt. Ltd., the local franchisee of Singapore based boutique bakery chain, has its classification changed from a ‘subsidiary’ to ‘non-current asset held for sale’, the interim financial accounts of the R I L Property PLC (RIL) said.

Cargills (Ceylon) PLC reported higher revenues for the quarter ended March 31, 2021 (4Q21) as demand returned to its expansive food and beverages business, but the contribution from the group’s key supermarket business languished.

Consumer prices in the Colombo district accelerated in May as prices of both foods and non-food items rose from a month earlier, quite contradictory to the behaviour of prices when large swaths of the economy remain shuttered due to virus related res

The Cabinet of Ministers has cleared the path to award three long-term petroleum import bids to PetroChina International and one remaining bid to Swiss Singapore Overseas Enterprises.

Funds to settle nearly two-thirds of Sri Lanka Development Bonds (SLDBs), which are due this year, have been raised, as these bond issuances are continuously seeing active demand from banks and other financial service sector entities, the Central Ban

Billionaire businessman Dhammika Perera-controlled Royal Ceramic Lanka (RCL) PLC is gearing to enter into biscuit and chocolate production through its non-operational subsidiary Rocell Ceramics Limited, which was recently renamed as Biscuits and Choc

The Board of Investment (BOI), Ceylon Chamber of Commerce and Colombo Stock Exchange (CSE) are all set to unveil the first-ever virtual platform in Sri Lanka to attract foreign investments and Asia’s first and largest virtual investor forum from Ju

State borrowings fell in April after the government raised a massive amount of debt from the Central Bank and banking sector in March, according to the latest data released by the Central Bank.

Sri Lanka saw funds flowing into priority and productive segments of the economy before the virus restrictions disrupted the flow, the Central Bank data available through March-end, showed.

The banks have been asked to look for more than one’s Credit Information Bureau (CRIB) score when granting loans, as the assessment of creditworthiness solely based on this score may not always give the true picture, given the circumstances created

John Keells Holdings PLC (JKH) indicated that its future investment cycle would entail the development of Colombo Port’s West Container Terminal (WCT), as the company is estimating US$ 70 to 80 million investments during the terminal’s four-year

The White House on Friday sent Congress a US$ 6 trillion budget plan that would ramp up spending on infrastructure, education and combating climate change, arguing it makes good fiscal sense to invest now, when the cost of borrowing is cheap, and red

Sunshine Holdings PLC returned to pre-pandemic performance during the three months to March 2021 (4Q21) as the group, which has interests in healthcare rode on the pandemic-fuelled demand while its consumer and agribusinesses did well on the consumer

Local dairy producer Pelwatte Dairy has welcomed the government’s move to ban the chemical fertilizers from next Maha season towards endowing a healthy future generation to the country.