The Cabinet decision to set up a Fabric Processing Park in Eravur as a Strategic Development Project, under the Ministry of Industries was welcomed by the apparel sector which acknowledges that the establishment would help iron out issues faced in th

Sri Lanka’s economic revival has finally become visible as the year 2020 comes to an end with many companies increasing their profit levels during the second and third quarters, State Minister of Money, Capital Markets and State Enterprise Reforms

Dialog Axiata PLC (Dialog), on the request of the Ministry of Health gifted a fully functional 10-bed Intensive Care Unit (ICU) to the Homagama Base Hospital recently.

The UN Network on Migration in Sri Lanka was formally launched virtually on November 11 by the International Organization for Migration (IOM), the UN Resident Coordinator and 11 UN entities in Sri Lanka in partnership with the Government of Sri Lanka

INSEE Ecocycle Lanka (Private) Limited, which is a fully owned subsidiary of Siam City Cement (Lanka) Limited, and part of the INSEE Group initiated a vital programme recently to provide the nation with sustainable waste management solutions for used

Uber Eats announced it has partnered with grocery chains and stores to deliver essential items to residents in the Colombo district as the country grapples with a second wave of COVID-19 cases.

Advocata Institute, a Colombo-based think tank, which promotes free markets, yesterday welcomed the government’s decision to resume the stalled East Container Terminal (ECT) Project in the Colombo Port but called for improved government oversight o

Blackstone Group Inc. has agreed to acquire the glass unit of Indian conglomerate Piramal Enterprises Ltd. for about US$1 billion, according to people with knowledge of the matter.

Listed textile manufacturer, Teejay Lanka PLC, which has operations in Sri Lanka and India said it remains “cautiously optimistic” about the company’s business prospects as Sri Lanka’s situation with regard to fighting the COVID-19 pandemic c

Sampath Bank PLC’s net interest income fell during the three months to September (3Q20) due to nascent growth in new loans while the margins compressed amid falling interest rates and soaring deposits.

National Development Bank PLC (NDB) seized the economic rebound after the end of lockdowns in May as it gave more loans to generate higher interest and fee incomes in the three months to September (3Q20),

Gains from government securities (G-Secs) blunted the full impact of the pandemic on Commercial Bank of Ceylon PLC’s earnings in the September quarter (3Q20) while the bank was beginning to see some pick up in new loans.

Hatton National Bank PLC (HNB) reported lower net interest income during the three months to September (3Q20) as growth in loans was just coming through after ebbing in the previous quarter, but it wasn’t enough to offset the cost of the soaring de

The non-bank financial institutions (NBFI) sector’s non-performing loan (NPL) ratio softened in August, from the highest levels reached in June, indicating that the worst of the troubles facing the sector are alleviating, although the current state

LOLC Holdings PLC plans to launch its digital payment mobile app iPay in Myanmar, Pakistan and Indonesia, following its success in Sri Lanka and Cambodia, as it aims to become a predominantly ‘phygital’ financial services provider by bridging the

Sri Lanka and India signed a memorandum of understanding (MoU) this week for high impact community development projects implemented in the country, at a cost of over Rs.600 million, under an Indian aid grant for next five years.

Dialog Axiata PLC’s revenues returned to pre-pandemic levels in the September quarter (3Q20) while profits rose, as the company settled debt and booked translation gains on foreign borrowings amid measures deployed to cut costs paid off.

Pfizer CEO Albert Bourla sold US $ 5.6 million worth of stock on Monday — the same day it said its and BioNTech’s coronavirus vaccine showed 90 percent effectiveness in preliminary results, which saw the company’s stock soaring almost 8 percent

Singer Sri Lanka PLC recorded robust sales during the three months ended in September (2Q21), with consumers buying more consumer electronics, household furniture, smartphones and laptops, as the COVID-19 pandemic demanded them to work from homes.

Two local workers and four Chinese employed at another CHEC project in Kotahena, Colombo 13, who were temporarily residing in one of the accommodation facilities at the Port City Colombo construction site, tested positive for COVID-19, during the tes

Quick rebound in export volumes and group-wide cost efficiency measures paid off as Hayleys PLC reported robust top and bottom line performances for the quarter ended in September (2Q21), recording the group’s best ever six months.

Supported by healthy gains at the top line amid pent up consumer demand, Nestlé Lanka PLC, the local unit of Swiss food giant, reported improved earnings for the September quarter (3Q20), the interim financial accounts released to the Colombo Stock

Dialog Axiata, Sri Lanka’s premier connectivity provider, announced the launch of 5G roaming that would enable Dialog subscribers to roam on 5G networks while overseas.

The first round of promotional efforts taken to position Sri Lanka as a holiday destination amidst the pandemic has turned out successful with the ‘Couch Safari’ initiative of the Tourism Promotion Bureau becoming increasingly popular amongst int

Rating agency ICRA Lanka says the rupee would hold up its value through the end of the year as exports and remittances remain strong amid controls in place on non-essential imports and less than a half billion dollars in debt remaining to be settled

The Cabinet of Ministers this week approved the proposals to award contracts to U.A.E-based ES Energy DMCC and Singapore-based Swiss Singapore Overseas Enterprises Pte. Ltd. to procure petrol (92Unl) and diesel for the next eight months.

Ceylon Tobacco Company PLC (CTC) said its sales reached pre-pandemic highs as the cigarette volumes picked up fast to surpass the year earlier levels in the three months ended in September 2020 (3Q202). The sole cigarette manufacturer in the country

Expolanka Holdings PLC secured exceptionally strong top and bottom line growth during the quarter ended on September 30, 2020 (2Q21), largely as a result of a focused and consistent strategy, along with the ability to stay agile and optimise opportun

United Motors Lanka PLC (UML) posted a group profit of Rs.366 million for its September quarter (2Q21), compared to Rs.13.5 million in the corresponding period last year, supported by the increase in revenue and margins in vehicle sales, aftersales a

Meanwhile, workers’ remittances continued to increase notably for the fourth consecutive month, recording a healthy growth of 36.1 percent in September 2020, year-on-year (YoY), to US $ 703 million.