The International Chamber of Commerce Sri Lanka (ICCSL) in a statement issued yesterday said, “The Port City project will have a significant impact on the economy, in terms of much-needed FDIs to the country, together with the potential new employm

The government has announced a 600-acre addition to the dedicated Pharmaceutical Manufacturing Zone located in the Arabokka estate in Hambantota, under phase two of the project, while the investors are set to secure the land plots under the 400-acre

The Colombo Stock Exchange (CSE) plans to implement a Delivery Versus Payment (DVP) mechanism for equity securities clearing and settlement, in May.

Central Depository Systems (Pvt.) Ltd (CDS), a fully-owned subsidiary of the Colombo Stock Exchange (CSE), has enabled e-IPO applications for the initial public offering (IPO) of Chrissworld Ltd, via the CSE mobile application.

The Central Bank has introduced a number of revisions to its existing laws governing the country’s foreign exchange dealings to facilitate easy passage of foreign currency, with a view to further ease the cross-border transactions and to provide co

Oil prices were broadly steady yesterday with support from a European economic recovery countered by persisting coronavirus concerns as infections surged to record levels in India.

SriLankan Airlines, the flag carrier of Sri Lanka, unveiled its refurbished office located on Sir Baron Jayatilaka Mawatha, Colombo 1.

Coffee drinkers, pet owners and home bakers helped to drive the biggest rise in quarterly sales at Nestle for 10 years, as the world’s biggest food group outshone Danone and set a high bar for Unilever.

The Government of Sri Lanka and World Bank signed a US $ 69.53 million credit agreement to improve dams and irrigation schemes covering 165,000 hectares of agricultural land and improve the management of watersheds and water resources, benefitting 35

SLT-Mobitel, the national telecommunications and mobile services provider, is revolutionising the market with an array of new unlimited any time Internet packages for fixed line and mobile customers, including prepaid and post-paid.

As part of its global initiative to advocate for greater diversity and inclusion, Allianz Lanka, one of Sri Lanka’s leading insurance companies, recently launched the Allianz Lanka Women in Leadership, Employee Resource Group (WIL ERG).

The Colombo Stock Exchange (CSE) has approved an application submitted by Prime Lands Residencies Limited for the listing of its ordinary voting shares by way of an offer for subscription.

The banks with a higher exposure to dollar-denominated financial assets such as Sri Lanka Development Bonds (SLDBs) and Sri Lanka International Sovereign Bonds (SLISBs) are expected to make heavy foreign exchange gains from the depreciation seen in t

Sri Lanka’s largest private sector renewable energy producer WindForce Limited PLC yesterday said it is eying renewable energy projects in several countries and revealed plans to enter Bangladesh and Cameroon shortly.

Sri Lanka’s national prices measured by the National Consumer Price Index (NCPI) picked up pace in March, ahead of the traditional New Year shopping season, as increases were seen in categories such as transport, restaurants and clothing.

WindForce Limited PLC’s shares, which began trading yesterday, made a strong debut with the share closing over 15 percent higher compared to the offer price, amid significant foreign investor interest.

The Government of Sri Lanka and World Bank have signed a US $ 69.33 million loan agreement for the Kandy Multimodal Transport Terminal Development Project, which will develop the Good Shed terminal in Kandy.

Sri Lanka’s insurance sector’s capital adequacy and liquidity — the two key performance indicators measuring the strength of the sector — have been improving, defying the temporary setback caused by the pandemic-induced business disruptions d

SriLankan Airlines has commenced flight operations to Nairobi in Kenya, its second destination in East Africa after flying to the Seychelles, a media communiqué by the national carrier said.

As majority of the producers grapple with the rising producer prices, the small-scale poultry farmers have been forced to exit the industry due to the escalating feed prices, which among other things have pushed the selling price of fresh chicken up

The Regional Plantation Companies (RPCs) yesterday challenged the Commissioner General of Labour to pursue the necessary legal action against the state-managed estates for non-payment of the daily minimum wage mandated for the rubber and tea plantati

As the Central Bank is in the process of introducing a new Banking Act, in place of the existing one, the regulator has also undertaken a fresh project to introduce amendments to the Finance Business Act (FBA), No. 42 of 2011, the statute applicable

Hayleys Group’s Dipped Products PLC (DPL) and Haycarb PLC are well-positioned to benefit most from a potential COVID-19 third wave globally, which could ramp up the demand for personal protective equipment (PPE), according to a research report by a

Most of the non-performing loans (NPLs) in the banking sector have come from those who hadn’t applied for any type of relief such as the payment holidays afforded by way of moratoria, a survey has found.

The pandemic-struck apparel sectors of Sri Lanka and Bangladesh are in urgent need of joint collaborative efforts from suppliers and brand buyers if the industry, which is a key revenue generator for both the nations, is to return to normalcy.

The fashion designers are struggling to keep up with the fast-changing trends in the country, as the challenges in sourcing raw materials have led to a slowdown in reacting to the market demand.

The government explored the possibility of attracting investments to the Colombo Port City Economic Zone from Qatar and Oman, and would do it with India in the near future, a Minister said yesterday.

The mandatory offer price of Piramal Glass Ceylon PLC (PGC) has been revised upwards to Rs.11.86 from Rs.11.60, a stock exchange filing said.

The automated teller machine (ATM) network of Commercial Bank of Ceylon has dispensed a record Rs.8.818 billion on 9th and 10th April 2021, shattering the previous records for the highest and second highest cash disbursements for a 24-hour period, as

Sri Lankan corporates have accumulated debt at a faster pace making the most of the record low borrowing cost, upending the funding structure and their balance sheets for many years to come as the economy is slowly adjusting to low interest rates.