Laugfs Gas PLC returned to profitability in the three months to September (2Q21), as the company sailed on the economic rebound since the easing of the coronavirus lockdowns in May.

Standard Chartered Sri Lanka has won the Asian Development Bank’s (ADB) prestigious Trade Finance Deal of the Year 2020 (Confirming Bank) award, at the Trade and Supply Chain Finance Programme (TSCFP) Awards, hosted virtually on October 28, 2020.

Export promotions are set to continue despite the resurgence of COVID-19, as the Export Development Board (EDB) has embarked on a number of initiatives to shift the efforts online.

Although Sri Lanka continues to explore avenues to expand its export market and basket, according to the International Trade Centre (ITC), the island nation has not capitalised enough on the available GSP Plus scheme to increase its foreign exchange

The Colombo Tea e-Auction platform developed by CICRA Solutions (Pvt.) Ltd has been selected as Sri Lanka’s Best National Digital Solution for World Summit Awards (WSA) 2020, under the Business and Commerce (Innovative Services) category.

The board of directors of Union Bank of Colombo PLC announced the appointment of veteran Central Banker C.J.P. Siriwardana as Independent Non-executive Director, with effect from November 2, 2020.

Tokyo Cement Company (Lanka) PLC reported higher revenues and profits for the three months ended in September (2Q21), as the quick rebound in the country’s construction sector shortly after the easing of lockdowns helped the company to recoup the l

Bain Capital has made a US $ 900 million preliminary bid for a controlling stake in Piramal Glass (Pvt.) Ltd, two people directly aware of the development said.

Kanrich Finance Limited (KFL) will raise Rs.2 billion capital through a private placement, in order to fulfil the core capital requirement by the extended deadline of December 31, 2020.

Chevron Lubricants Lanka PLC reported a robust performance during the three months ended in September (3Q20), as the company grew sales above both its previous quarter and the year earlier levels, indicating that it managed to recoup the depressed sa

Ceylon Grain Elevators PLC (CGE) yesterday informed the Colombo Stock Exchange that four of its staffers at the feed mill business unit, located at No: 15, Rock House Lane, Colombo 15, tested positive for COVID-19, on October 31.

Milliman, Inc., a premier global consulting and actuarial firm, announced that it would begin operations in Sri Lanka, after an agreement to acquire Colombo-based Spark Actuarial Private Limited came into effect yesterday.

The Central Bank last week sent fresh guidelines to banks to be followed when classifying loans as non-performing, as there are sectors, which are still suffering from direct restrictions on their businesses, due to the pandemic.

The Fisheries Ministry has decided to increase the taxes on imported fish, dried fish and Maldive fish.

In a statement to allay fears about Sri Lanka’s capacity to service its debt obligations, State Minister of Money & Capital Markets and State Enterprise Reforms Ajith Nivard Cabraal said the country’s foreign reserves remain close to US$ 6 billio

The Asian Development Bank (ADB) has recognized People’s Bank by awarding it the ‘Trade Deal of the Year’ at the ADB Trade Finance Programme Awards 2020 (TFP Awards 2020) jointly with Standard Chartered Bank.

Sinhaputhra Finance PLC and National Lanka Finance PLC have sought an amalgamation of business subject to valuations and approval from Central Bank’s Monetary Board.

Inflation in Colombo district remained stable in October from a month earlier as food prices eased while non-food prices edged up.

National Savings Bank (NSB) has proposed to raise Rs.5.0 billion via an equity-like bond to bolster its additional Tier I capital and the affiliated capital adequacy levels, which are already at comfortable levels compared to the regulatory minimums.

Ceylon Cold Stores PLC (CCS) tripled its profits in the quarter ended in September (2Q21) as robust consumer spending during the period lifted the company’s performance even beyond its pre-pandemic levels.

Preliminary estimates have shown that growth in private sector credit that recovered in August had continued unabated in September.

Tech giants will have to do more to weed out illegal and harmful content while online gatekeepers will be bound by a list of dos and don’ts under new rules aimed at reining in their power, Europe’s antitrust chief said yesterday.

Almost two-thirds of 140,000 employees in Sri Lanka’s leading companies are struggling to meet personal and family financial obligations due to the impact of COVID-19, reveals a new report.

Malaysia’s AirAsia X Bhd plans to revise its US$ 15.3 billion debt restructuring plan to address concerns raised by a creditor as its cash is running out fast, people with direct knowledge of the matter said.

Sovereign default risks are on course to rise further in 2021, with Iraq, Sri Lanka, Angola and Gabon at high probability of default, say Goldman Sachs analysts.

Oil prices fell 4 percent yesterday to their lowest since mid-June, extending the previous day’s sharp decline on the potential impact renewed coronavirus lockdowns will have on oil demand.

The Institute of Policy Studies of Sri Lanka (IPS) has released a report, which provides a comprehensive assessment of Sri Lanka’s historical and current tobacco tax policies to assess whether they are in line with the World Health Organisation’s

People’s Bank and Sri Lanka Insurance (SLIC) continued their growing partnership with the official opening of the People’s Bank Service Centre at SLIC Head Office premises.

Keells Food Products PLC (KFP) reported higher revenues and profits for the three months ended September (2Q21) with consumption in the economy recovering after a two-month lockdown, which ended mid-May.