State Mortgage and Investment Bank (SMIB) is at the forefront of disbursing Employees’ Provident Fund (EPF)-backed loans to salaried individuals, but the bank is now confronted with over 20 percent of bad loans as the borrowers as a habit renege on

Dialog Axiata PLC yesterday said it completed a deal to acquire 100 percent shareholding of H One (Private) Limited, through Dialog Broadband Network (Private) Limited (DBN), a fully-owned subsidiary of Dialog.

Hyundai has announced it is in early discussions with Apple to work together on self-driving electric cars.

Hela Clothing, by acquiring a 50 percent stake in Sumbiri Intimates Apparel PLC from Indonesian owner Sumber Bintang Rejeki, has formed a new joint venture in East Africa to manufacture bra and intimate products out of the Hawassa Industrial Park in

Sri Lanka would honour its loans and would not default, especially when it comes to international sovereign bonds, Finance, Capital Markets and State Enterprise Reforms State Minister Ajith Nivard Cabraal told Parliament yesterday.

Prime Minister Mahinda Rajapaksa this week instructed the relevant authorities to take steps to provide credit facilities to small and medium-scale rice producers.

China hawks, who have been constantly calling that Sri Lanka could tilt disproportionately towards China, appeared to have made that claim based more on innuendos rather than objective evidence, the research unit of a Colombo-based equity brokerage s

Bolstered by the benchmark All Share Price Index (ASPI) crossing the 7, 000-point mark on Wednesday, the Colombo Stock Exchange yesterday steamed ahead with full throttle with market turnover crossing Rs.9.1 billion. ASPI gained 60.08 points or 0.87

LOLC Investments Ltd. yesterday sold its entire stake in the brush maker BPPL Holdings in a Rs.1.28 billion deal.

Pasan Wanigasekara yesterday assumed duties as the Director General of the Board of Investment (BOI), the investment promotion agency of the Government of Sri Lanka.

The Monetary Board approved draft of Microfinance and Credit Regulatory Authority Act aimed at regulating the country’s informal money lending activities is now before the Cabinet of Ministers.

Dhammika Perera-controlled Royal Ceramics Lanka PLC plans to commission a new tile manufacturing plant targeting the more price-sensitive segment of the market and increase the company’s tile production capacity by 20 percent.

After an extremely challenging 2020 marked by COVID-19 pandemic, Sri Lanka’s State-run banking giant, Bank of Ceylon (BOC), says it is geared to meet challenges of 2021 with an increased focus on digital delivery channels to deliver uninterrupted s

The Board of Directors of the Colombo Stock Exchange (CSE) has made a decision to change the tick size applicable to equity securities traded on the automated trading system (ATS). The necessary rule changes have been carried out by the CSE to facil

The Colombo Stock Exchange’s (CSE) benchmark All Share Price Index (ASPI) crossed the 7,000-point mark yesterday for the first time since November 24, 2015, closing the trading day on 7,036.76 points.

The Maldivian government revealed that across the year 2020, a total of 555,399 tourists had arrived in the archipelagos.

The Cabinet of Minister has approved measures to seek the Parliamentary approval to liberalise the country’s gem mining licence scheme, enabling activity even on leased lands.

Multi-disciplined corporate leader Pasan Wanigasekara has been appointed as the new Director General of the Board of Investment (BOI), the country’s state-run apex investment promotion body.

Jitendra Romesh Gunaratne, who recently retired from the John Keells group, has been appointed as an Independent Non-Executive Director to CIC Holdings PLC, with effect from January 6, 2021.

Dhammika Perera-controlled Royal Ceramics Lanka PLC plans to commission a new tile manufacturing plant, targeting the more price-sensitive segment of the market and increasing the company’s tile production capacity by 20 percent.

The Central Bank remains hopeful of the prospects of PayPal Holdings Inc., the US-based international payment gateway company, to open access to Sri Lanka to facilitate Internet-based payments.

The Cabinet of Ministers this week approved a proposal to enter into a new framework agreement with the government of South Korea, to obtain concessional loans up to US $ 500 million for the implementation of infrastructure projects recognised within

In a deviation from the practice of issuing dollar denominated Sri Lanka Development Bonds (SLDBs) only at floating rates linked to London interbank offered rate (Libor), the Central Bank this week announced that it would henceforth start issuing fix

Ambeon Holdings PLC Group Managing Director/CEO has resigned with effect from January 31, 2021.

The unemployment rate in Sri Lanka touched a high of 5.8 percent in the third quarter ended in September even though the economy showed a quick rebound with 1.5 percent growth in the same quarter.

The Central Bank yesterday extended the current exchange controls by another six months from January 2, 2021.These restrictions were first imposed in April 2020 and gazetted in June.

The Monetary Board of Sri Lanka yesterday extended the suspension of primary dealer Perpetual Treasuries Limited’s business by another six months.

The Cabinet of Ministers this week approved a proposal to instruct the Legal Draftsman to draft the Colombo Ports Commission Bill to enable Colombo Port City to become a competitive investment hub in the region.

State borrowings from the banking system fell substantially in November from October highs while the net credit to public sector enterprises also recorded a decline.

Sri Lanka Ceramics and Glass Council (SLCGC) yesterday sought government intervention to update Sri Lanka Customs’ (SLC) ‘Test book’ value of key ceramic products imported into the country in the absence of a proper mechanism to implement the A