Malaysia and Indonesia, perturbed by the government’s decision to slap a ban on palm oil imports, have asked for the removal of it, Mirror Business learns.

As the historically low interest rates upended the asset allocation decisions of people and firms alike, the mutual fund industry stood to benefit immensely out of that phenomenon, as its assets under management (AUMs) soared to over Rs.200 billion b

Sri Lankan shares closed higher yesterday, helped by gains in financial and consumer staples.

The total market turnover of the Colombo Stock Exchange (CSE) demonstrated a positive growth of 29.43 percent in the month of April compared to the previous month.

Sri Lanka managed to maintain the momentum in the number of tourist arrivals with 4,168 international travellers visiting the country in April.

PGP Glass, a unit of US-based private equity fund Blackstone, has increased its stake in Piramal Glass Ceylon PLC (PGC) to at least 78.65 percent,

LB Finance PLC (LBF) has succeeded in raising US $ 15 million on a four-year tenure from FMO, the Dutch Entrepreneurial Development Bank.

The All Ceylon Metal Foundry Industrialist Association (SLMFIA) in a media release yesterday hailed the banning of export of scrap metal and thanked Industries Minister Wimal Weerawansa for the decision.

MAS Holdings yesterday announced, that in line with its long-term strategic objectives, it has concluded the sale of its subsidiary attune Lanka (Private) Limited to Rizing LLC, a privately held, US-based boutique firm.

The Cabinet of Ministers granted approval to setup container-based cross-fit gyms across the country at an estimated cost of Rs.625 million in a bid to inculcate an active lifestyle among the youth while providing some catalyst for progress in sports

As cyber threats have continued to mount during the pandemic due to alternative work arrangements, cybersecurity should be made a topic of the boardroom and given extra attention, the Central Bank of Sri Lanka (CBSL) said.

The Cabinet of Ministers cleared the path to table the Central Bank Annual Report 2020 in Parliament as per the provisions of the Monetary Act.

Ministry of Health (MoH) has issued revised ‘Operational guidelines on the preparedness and response for COVID- 19 outbreak for banks and Non-Bank Financial Institutions’ (NBFI), considering the sector’s high vulnerability for the transmission

The Cabinet of Ministers has decided to award Rs.541.80 million contract to Colombo-based Slim Pharmaceuticals (Pvt) Ltd. to procure 840,000 prefilled Enoxaparin Sodium vaccines (4000 IU, 0.4mm) which are used treat harmful blood clots in heart patie

The government has decided to award US$ 13.1 million contract to India’s Mukesh Ambani-controlled Reliance Life Science (Pvt.) Ltd to supply 112,500 vials of human immunoglobin (BP 5 — 6 grams) based on recommendation of the Cabinet-appointed Sta

Pan Asia Banking Corporation PLC delivered its best quarterly performance in the three months ended in March 2021 (1Q21), as the bank opened its lending spigots giving more loans in a resurgent economy characterised by strong consumer spending.

Hela Clothing, an ethical and sustainable apparel manufacturer with factories across Kenya, Ethiopia and Sri Lanka, has been recognised as a leading example of resilience and ingenuity during the pandemic by President Uhuru Kenyatta of Kenya.

Prime Lands Residencies Limited, the condominium property arm of Prime Group, recently debuted its initial public offering (IPO) proposition.

Sri Lankan shares ended marginally higher yesterday, driven by gains in financial and consumer staples’ stocks.

The Central Bank has stressed that it is imperative to explore new markets for Sri Lankan migrant workers since the importance of remittance inflows as a non-debt creating source of foreign exchange has increased in the face of the pandemic.

The growing restrictions imposed on the daily lives of people, claiming to contain the virus spread, are making more damage than the virus itself, rendering large swaths of people out of their livelihoods, who mostly earn a living out of their daily

Sri Lanka Institute of Nanotechnology (SLINTEC), the country’s top nano and advanced technology and research institute is seeking emergency regulatory approval for its low-cost COVID-19 test kit based on RT-LAMP technology, which has the ability to

Expolanka Holdings PLC produced its best ever financial performance in the three months ended March 31,

Inflation measured by the Colombo Consumer Price Index (CCPI) for all categories of goods and services rose by 3.9 percent during the twelve months to April 2021, but the prices of food staples rose by 9.0 percent, continuing their growth to near dou

The private sector credit, a key gauge of economic dynamism in the country picked up pace during March, marking the third month in raw such credit grew, in a sign of reactivating ‘animal spirits’ in the economy ahead of the New Year.

Sri Lanka being import dependent on several major food commodities in the food balance sheet requires the facilitation of regional and cross-country food trading to ensure food security.

Weighing in on the tourism trade which has been struggling to recover since the re-opening of borders, the Central Bank last week said that it is crucial to employ innovative strategies to keep the industry going under the new normal designed by the

Work-from-home (WFH) arrangement implemented in the public sector during the pandemic was not fully successful, the Central Bank (CBSL) said, due to issues related to ICT infrastructure and literacy.

In what appears to be a structural change in the Sri Lankan economy, people have taken more into agriculture from industry and services with the latter having seen the biggest exodus after the virus-related restrictions hampered the sector.

World stocks held near a record high and the euro was on course for its best month in nine as strong U.S. data and corporate earnings plus the Federal Reserve’s commitment to support the economy fuelled investors’ appetite for risk.