The private sector credit gained pace during December after a brief deceleration in October and November, indicating that private individuals and companies have resumed taking up loans for consumption, production and investment activities.

Consumer prices measured by the Colombo Consumer Price Index (CCPI) fell sharply in January as food and non-food prices eased with little pressure coming from supply side amid dampening impact on demand in certain sectors due to the pandemic.

Fitch has revised the national long-term rating of Abans Finance PLC (AFP), a member of the Abans group, from ‘BB+(lka)’ to ‘A(lka)’, following the revision of the national long-term rating of the parent company, Abans PLC, from ‘BBB+(lka)

Having first launched on March 20, 2020, ‘Hatch Open House’, a three-month mentorship programme that connects mentors with start-up founders to provide guidance and insight to grow their start-up, successfully concluded five cohorts, despite the

Pelwatte Dairy Industries expresses its delight on the promise of the President to allocate special lands for the dairy farmers, following several issues pertaining to the lack of land for cattle grazing in the districts of Ampara and Anuradhapura.

The Trade Development Authority of Pakistan (TDAP), under the auspices of the Commerce Ministry, will launch the first-ever virtual textile-specific trade exhibition of Pakistan from February 1-5, 2021, in light of the precautionary measures undertak

Policy-makers in the European Union (EU) choose austerity and balanced budgets over lifting tens of millions of Europeans out of poverty, a UN report said yesterday.

For the Entrepreneurship and Innovation Forum of Sri Lanka Association for Software Services Companies (SLASSCOM), uplifting innovators and entrepreneurs, a prospective set of change makers, is considered a key objective in the pursuit of achieving t

The Ceylon Chamber of Commerce’s (CCC) annual discourse on the year’s outlook will be held virtually on February 3, 2021, organised by the Chamber Academy.

Sri Lankan rupee should be trading at Rs.185 to a US dollar at present according to the prevailing macro-economic fundamentals in the country, and the recent measures to freeze forward rate agreements by the Central Bank has enabled the currency to g

Interestingly, the Independent Advisor has recommended the shareholders On’ally Holdings PLC to accept the mandatory offer price of Rs.30.32 per share offered by its new controlling shareholder, Lanka Realty Investments PLC, which is below the curr

CIC Holdings PLC recorded robust results for the three months to December 2020 (3Q21) continuing the momentum from the previous two quarters in a sign that the company’ strategic redesigning exercise fits well with the country’s policy direction

The National Chamber of Commerce of Sri Lanka (NCCSL) this week called for greater focus on SMEs and MSMEs, as a boost in the sector is essential for the national economy to overcome challenges exacerbated by COVID-19.While a number of challenges pre

Amid increased use of advanced technologies in their day-to-day management and oversight functions, the Central Bank is now mulling to make use of Artificial Intelligence (AI) and Machine Learning to assist their regulatory supervisory functions of l

Sri Lanka’s spices and allied products sector is bracing itself to face a contraction in production across all spices by the end of this year due to reduced access to artificial fertilizers and pesticides, however the industry urges stakeholders to

The isolation measures that kicked in since October, due to the second wave of COVID-19 and significantly lower revenues coming from its leisure operations, hindered the robust recovery momentum seen at John Keells Holdings PLC (JKH), as the group re

Technology investor Chamath Palihapitiya, the early Facebook Inc. executive and minority owner of the Golden State Warriors basketball team, threw his hat in the ring on Tuesday to replace Gavin Newsom as Governor of California.

Former Amaya Resorts and Spas Managing Director and Hayleys Head of Leisure Sector Lalin Samarawickrama, who relinquished his executive duties in March 2019, dispersed of his shareholding of 10 percent in the company, after almost two decades with th

The government settled more foreign loans in 2020 in comparison to what it borrowed from foreign sources, indicating its tilt towards domestic borrowing, as the interest rates remain at record low levels.

Leading poultry firm Bairaha Farms PLC emerged stronger during the three months ended December 2020 (3Q21), as it successfully navigated the market disruptions caused by the pandemic and the supply challenges caused by the shortfall in maize, a key i

The Cabinet of Ministers approved a proposal to conduct a complete feasibility study to select a suitable location to build the country’s first Pumped Storage Hydropower Plant that has been identified under the Long-Term Power Generation Plan 2018-

In the backdrop of increased stock market activities, the Securities and Exchange Commission (SEC) yesterday cautioned investors and the general public not to rely on unsolicited stock tips/advice circulated through bulk SMS, websites and social medi

Cargills Ceylon PLC, which runs the country’s largest privately owned supermarket chain, almost doubled its net profit in the December quarter (3Q21) amid strong sales, as consumer demand improved.

Dynamic business leader Ishara Nanayakkara-controlled LOLC Holdings PLC yesterday became the third US$ 1 billion company on the Colombo Stock Exchange (CSE), behind John Keells Holdings PLC and Ceylon Tobacco Company PLC.

Trying to clear the air surrounding the highly contentious East Container Terminal (ECT) matter, the government yesterday said it would never float its share of the terminal on any stock exchange, which could lead to potential dilution of ownership.

The Cabinet nod has been granted to draft a new Fossil Fuel Resource Development Act replacing the Fossil Fuel Resources Act No 26 of 2003, in order to establish a new legal framework for local fossil fuel including the natural gas industry as propos

State-controlled Sri Lanka Telecom (SLT) group is preparing for pre-commercial launch of 5G services mid-year under SLT-Mobitel brand while awaiting spectrum allocation for the commercial launch next year.

While nominal rental prices are held up, the vacancy rates of Colombo’s office space segment shot up in 3Q20, as small & medium-sized enterprises (SMEs) went into downsizing space to cut costs, and due to weak leasing demand following the lockdown

With aim of attracting Rs.30 billion in investments and generating 11,500 employment opportunities, the Cabinet of Ministers has approved a proposal to set up a 100-acre industrial estate in Katunayake.

Despite the turbulences and challenges, Sri Lanka Insurance Corporation (SLIC) has closed the year 2020 in a positive note, recording phenomenal revenue growth with exceptional service innovations.