Sri Lanka is expected to unleash a burst of economic activity this year, as the pandemic fades and the people and businesses are resuming activities that were put off last year, possibly elevating the country again into the upper-middle-income level,

The Central Bank has continued to purchase dollars from the domestic foreign exchange market for the second consecutive month in March, despite the recent pressure on the currency, as the Central Bank collects non-borrowed assets to shore up its fore

Sri Lankan shares closed lower yesterday, weighed down by losses in industrial stocks and heavyweight conglomerate Expolanka Holdings.

Top lawyer Dr. Harsha Cabral has been appointed as the Acting Chairman of Hatton National Bank PLC (HNB), following the resignation of top professional Dinesh Weerakkody as the bank’s Chairman with effect from March 30, 2021.

Sri Lanka’s largest private lender Commercial Bank of Ceylon PLC yesterday announced the appointment of Thushara Wijewardena to its board of directors as a Non-Executive Independent Director with effect from March 31, 2021.

Cabinet nod has been granted for Department of Motor Traffic (DMT) to obtain service facilities from State-owned Sri Lanka Telecom (SLT) to implement a pre-booking system with SME alerts for the public at the Head Office and all other district office

The Cabinet of Ministers has granted approval for Sri Lanka Land Development Corporation (SLLDC) to implement identified flood minimising projects worth of Rs 2.8 billion in risk-prone Colombo and its suburbs as well as in other areas in the country

The Cabinet of Ministers has granted the approval to setup a cyclotron-based radiopharmaceuticals production center to manufacture radioactive dye Fluorodeoxyglucose (18F-FDG) that is used in positron emission tomography (PET) and computerised tomogr

The Cabinet nod has been received to establish an independent and transparent mechanism to regulate the country’s petroleum industry under the Ministry of Energy and Sri Lanka Public Utilities Commission (PUCSL).

State-owned National Savings Bank (NSB) yesterday announced its financial performance for the year 2020, which was characterised by strength and resilience, despite the heightened uncertainty due to the impact of the COVID-19 pandemic.

World oil prices rebounded yesterday, reversing earlier losses after a warning that the Suez Canal container ship blockage remains a challenging situation.

The regulatory framework to develop Sri Lanka’s boatbuilding industry was officially handed over to the implementing agencies under the patronage of Trade Minister Dr. Bandula Gunawardena yesterday, at the Trade Ministry.

The World Health Organisation (WHO) warned yesterday against a widening gap between the number of coronavirus vaccines in wealthy countries and those distributed to poorer nations through the global Covax initiative.

Sri Lankan shares ended higher yesterday, helped by gains in industrial and financial stocks.

As the Central Bank brushed aside the recent uptick seen in the yields of the government securities as an indicator of the overall lending rates in the market, ICRA Lanka Limited said the authorities would however have to rein in the bond yields to e

The broader Information Technology services exports sector emerged better than ever in 2020 as it recorded its highest-ever earnings reflecting that the sector stood remarkably shock-proof when almost everything else had to take a break due to COVID-

A meeting of the newly set up Enterprise Development Advisory Council (EDAC) was held on March 26 at the Shangri-La Hotel under the patronage of State Minister for Finance and Capital Markets and Public Enterprise Reforms, Ajith Nivard Cabraal.

WindForce Limited, the largest Initial Public Offering (IPO) to hit the Colombo Stock Exchange since 2011, which closed on the opening day, was oversubscribed at least by seven to eight times, according to stock market sources.

HCL Technologies (HCL), a US$ 10 billion global technology company, which inaugurated its Global Development Center in Sri Lanka last September, had announced its aim to create 3,000 jobs in three to five years.

The government last week lifted the lid on a yearlong import restriction on sarees as the New Year season approaches and the economy is getting a reboot from resumption of gatherings, which involve in-person contact such as weddings, parties and fami

Vietnam received US$ 4.1 billion in foreign direct investment (FDI) in the first three months of 2021, up 6.5 percent from a year earlier, government data showed.

Sri Lanka has upgraded its targeted earnings from worker remittances for this year, as the numbers continue to appear better than last year’s levels making possible for the authorities to comfortably reach what once appeared an elusive goal.

Oil prices reversed a sharp sell-off a day earlier to rise about 2 percent yesterday on mounting fears that it could take weeks to dislodge a giant container ship blocking the Suez Canal, which would squeeze supplies of crude and refined products.

Sri Lanka’s tile and the broader ceramic industry is bracing for a growth of 12.5 percent in 2021, as the economy set off to a robust start this year and the consensus is building up for the country’s economic output to grow around 5 percent or m

Fitch Ratings Lanka has assigned Sampath Bank PLC’s (AA-(lka)/Stable) proposed Basel III-compliant subordinated unsecured debentures a National Long-Term Rating of ‘A(lka)’.

Facebook-owned Instagram has seen a surge in frauds on its platform that were up by 50 percent since the pandemic began and scams related to romance, phishing and influencer sponsors top the chart, a new report by Sophos said recently.

The stranded Ever Given mega-container ship in the Suez Canal is holding up an estimated US $ 9.6 billion (£7 billion) of goods each day, according to shipping data.

The Sri Lanka Export Development Board (EDB) in association with the Sri Lanka High Commission in India organised a webinar to promote matchmaking and market-entry opportunities between the Indian and Sri Lankan electronic and electrical manufactures

As cities across Asia continue to grapple with food-related issues on a daily basis, the World Bank (WB) has called on them to “get smart to get rich!”.

In back-to-back proposals to set up pharmaceutical manufacturing hubs in different parts of the country since the virus outbreak exposed Sri Lanka’s over reliance on pharmaceutical imports, the government this week gave clearance to set up another