The Monetary Board of the Central Bank has agreed to give more time for John Keells Group and Central Finance Group to reduce their shareholdings in Nations Trust Bank PLC (NTB).

Leading local business leaders representing a number of sectors said lackadaisical nature of some employees is among several key issues they are facing right now, which impede business progress.

Sri Lanka’s Tea Production for November showed a marginal increase of 0.78 MnKg from the corresponding period in 2019. However, cumulative production for the eleven months of the year has contracted by 28.32 MnKg Year-on-Year (YoY).

Dialog Axiata PLC yesterday said it had entered into an agreement to acquire 100 percent shareholding in H One (Private) Limited, through Dialog Broadband Network (Private) Limited (DBN), a fully owned subsidiary of Dialog.

Although Sri Lankan banks could confront capital impairment risks, Fitch Ratings said it is “mostly manageable,” as most private banks have healthy capital buffers and the relatively muted lending prospects could be offset by earnings retentions,

In line with President Gotabaya Rajapaksa’s ‘Vistas of Prosperity and Splendour’ national policy framework and the concept of ‘Insurance for All”, the second phase of ‘Viru Abhiman’, an exclusive COVID-19 insurance cover was launched by

Diversified conglomerate Softlogic Holdings PLC shared that having steered through the year of pandemic with a series of adjustments to settle in the new normal, the entity’s immediate attention will be directed towards extending its cash runway.

Both Sampath Bank PLC and Hatton National Bank PLC (HNB) have decided to discontinue the credit ratings obtained from Moody’s Investors Service.

Investment banking house Asia Capital PLC (ACAP) yesterday announced to Colombo Stock Exchange (CSE) that the company has entered into a share purchase agreement to acquire 70 percent stake of Navara Capital Partners Ltd. (NCPL).

Sri Lanka’s national prices eased in November from a month earlier, as food prices sagged due to underwhelming demand for goods amid people cutting back on consumption and some skipping in-store visits to supermarkets on fears of contracting the vi

The Ceylon Black Tea promotion campaign kicked off this December 2020, with a total investment of Rs.35 million aimed at boosting the theme‘Ceylon Tea – The World Favourite Tea’ through social media platforms.

The Director General of Commerce is now empowered to drop the hammer on any activity, which is tantamount to dumping of goods, and take tougher action on such violations under the law enacted with the passage of ‘Anti-dumping and Countervailing Dut

While fiscal consolidation should be the medium term agenda for the government, now is not the time to push it through, as it takes away the biggest incentives available for accelerating economic growth, according to a research arm of a Colombo-based

State-owned banking giant Bank of Ceylon (BOC) yesterday said the recent downgrade of sovereign and banking institutions in Sri Lanka has not affected the bank’s operations and its foreign correspondent relationships.

Commercial paper issuances have continued to pick up, indicating that the short-term money market instrument is regaining its popularity.

Vidullanka PLC further strengthened its contribution to a greener, cleaner future for Sri Lanka recently by commissioning its very first rooftop solar project with Diamond Cutters Limited.

Canada-based Ceylon Graphite Corp. recently announced the appointment of Janaka Rathnayake and H.M. Ranjith Premasiri to new roles within the company.

Sri Lanka’s manufacturing strength as measured by the Index of Industrial Production (IIP) slipped in October with authorities imposing some restrictions on mobility with the resurgence of COVID-19 in the early part of the month.

Backed by a US$ 300 million investment, sugar production at Kantale Sugar Factory is set to resume from 2023, after a 30-year hiatus, as the government is expected to hand over key assets, including the land belonging to factory on lease basis, to MG

The Free Trade Zone Manufacturing Association (FTZMA) slammed the move by Ministry of Labour to amend the Termination of Employment of Workmen (Special Provisions) Act (TEWA), asserting that the proposed changes are detrimental to employers.

Sri Lanka’s vehicle registrations slumped to a new low in November, including most commercial vehicle categories, as the government continues to maintain restrictions on importation of personal vehicles.

National carrier SriLankan Airlines sees a recovery to pre-pandemic revenue levels by the end of next year as COVID-19 vaccines roll out globally and its home country loosens air travel restrictions, its chairman said.

Sri Lanka has potential for an upward revision in its sovereign rating by this time next year, as the country is on course for a strong rebound in its economic growth, boosting its reserve buffers, achieving targets set in the budget, which will rein

Fitch Ratings expects loan growth of Sri Lankan banks to accelerate from where it will end in 2020, reflecting better prospects for the banking sector and more broadly for the economy.

The construction of Sri Lanka’s first liquefied natural gas (LNG) power plant will begin construction in January, Minister of Power Dullas Alahapperuma said this week.

Sri Lanka Tourism presented a strategic online webinar targeted at industry stakeholders, on the topic ‘Building destination image for post COVID tourism revival’.

Access Engineering PLC has successfully concluded the design and construction of G+24 -storey building that accommodates 608 residential housing units in Borella.

The United States is set to add dozens of Chinese companies, including the country’s top chipmaker SMIC, to a trade blacklist yesterday, two people familiar with the matter told Reuters.

Spirent Communications PLC, the leading provider of test, assurance, and analytics solutions for next-generation devices and networks, announced that it has provided its industry-leading 5G core network testing solution Spirent Landslide to Dialog Ax

Asian shares slipped yesterday after Reuters reported that the United States is set to add dozens of Chinese companies, including the country’s top chipmaker SMIC, to a trade blacklist later in the day.