Cargills Bank Limited reported Rs.306 million net loss for the three months ended June 30, 2020 (2Q20) on top of Rs.242.6 million loss in the previous quarter (1Q20), amid the bank’s management seeking the assistance of external consultants to turn

As the ‘Ceylon’ brand continues to be misused in the global market, especially in the case of tea and cinnamon, the government announced its decision to amend the current intellectual property laws to accommodate the Geographical Indication (GI)

The turnover at the Colombo Stock Exchange crossed the Rs.5 billion mark yesterday for the second consecutive day, amid increased high-net-worth, institutional and retail activity, although foreign participation continued to remain subdued.

DIMO Agribusinesses owns 3 Agri Techno Parks in Dambulla, Nikaweratiya and Lindula Intends to enter agro-tourism market through these parks to offer agriculture-based holiday experience

The business disruptions caused by the coronavirus pandemic weighed on Softlogic Holdings PLC’s March 2020 quarter performance (4Q20) and the full financial year (FY20), the recent interim financial accounts released to the Colombo Stock Exchange s

Pandemic restrictions saw an unprecedented fall in greenhouse gas emissions in the first half of 2020 -- larger than during the 2008 financial crisis and even World War II -- experts said yesterday.

Lakdhanavi Limited, the country’s largest independent power producer, is expected to rope in a partner, who will infuse 30 percent of the project cost of the construction of the proposed 300MW diesel/LNG power plant in Kerawalapitiya, which was awa

The government will use the US$500 million loan from the China Development Bank (CDB) for budgetary support, Money, Capital Markets and State Enterprise Reforms Minister Ajith Nivard Cabraal told Daily Mirror yesterday.

Export Development Board (EDB) Chairman Prabhash Subasinghe yesterday asserted it is unethical to point fingers at companies and individuals for the jump in COVID-19 positive cases as it is not one segment, but the entire society that must take respo

The Colombo Stock Exchange’s (CSE) turnover crossed Rs.5 billion mark yesterday, highest recorded since January this year, on local retail and high net worth investor play, although both indices lost ground.

Sri Lanka’s only glass bottle manufacturer Piramal Glass Ceylon PLC said the performance of July-September quarter (2Q21) was boosted by domestic market sales driven by COVID-19 fears.

The Non-Bank Financial Institutions Supervision Department of the Central Bank is to go through a complete overhaul with a new institutional structure to regulate finance companies as the Cabinet of Ministers this week approved a proposal to implemen

The Cabinet of Ministers has approved a proposal to set up an Expressway Investment Company, a fully State-owned entity under the Treasury to own and self-finance ongoing and future expressway projects with revenues generated from toll collections an

The outstanding balance of credit cards slipped in August—although the private sector credit, a key gauge of the dynamism of economic activities, recovered in the same month—implying that people are either using cash to pay their credit card debt

The pandemic-induced economic damage could cause long-lasting revenue losses for emerging market (EM) sovereigns, including Sri Lanka, causing a stretched budget deficit but the constraints to cut spending amid the pandemic should amplify the need fo

Sri Lanka Tourism has partnered with travel influencers across the world to recreate content on social media platforms, an attempt to keep the ‘So Sri Lanka’ brand active during the ongoing global pandemic.

In an open letter issued yesterday, the International Chamber of Commerce (ICC), the institutional representative of over 45 million businesses, International Trade Union Confederation (ITUC), the global voice of the world’s working people and Glob

Taking a leap forward in establishing its identity as a global customer experience champion, Dialog Axiata PLC, Sri Lanka’s premier connectivity provider, in partnership with Axiata Digital Labs (ADL), was the recipient of the coveted Customer Expe

Malaysia announced sweeping new curbs around the capital and worst-hit Sabah state yesterday, as the country fights a new coronavirus surge.

US economists Paul Milgrom and Robert Wilson won the Nobel Economics Prize yesterday for work on commercial auctions, including for goods and services difficult to sell in traditional ways such as radio frequencies, the Nobel Committee said.

Deposit rates offered to both corporate and individual customers are coming down faster as banks hasten to cut their funding cost in a bid to maintain margins, which are narrowing in line with the falling lending rates, exerting pressure on their bot

Sri Lanka has received foreign direct investment (FDI) worth US$ 345 million for the first six months of 2020 compared to US$ 535 million received in the same period last year.

Ajith Peiris, former Deputy General Manager (Operations) is scheduled to take over his duties as the 17th GM/CEO of National Savings Bank (NSB) today.

John Keells Properties (JKP) unveiled plans for the development of exclusive townhouses and bespoke luxury villas at the internationally renowned Victoria Golf and Country Resort (VGCR).

Sri Lanka’s coconut output is expected to decline by 13.1 percent year-on-year (YoY) to 2.7 billion nuts this year, due to unfavourable weather conditions that prevailed last year and the current fertilizer shortage in the market, according to Maha

Sri Lanka’s gross official foreign reserves fell in September before Central Bank settled a billion dollar bond on October 4, but the monetary authority continued to purchase dollars from the foreign currency market.

Dairy product imports fell the most in August indicating that local milk production is gathering steam amid fresh government initiatives to further strengthen the sector to achieve self-sufficiency in the country’s dairy requirement.

Sri Lanka’s trade deficit continued to narrow as imports continued to decline at a faster pace than the decline in export earnings in the month of August, the latest external sector data released by the Central Bank showed.

With the outbreak of COVID-19, Sri Lanka’s tourism industry was one of the worst affected.

Hayleys Plantations’ subsidiaries Kelani Valley Plantations (KVPL) and Talawakelle Tea Estates (TTEL) were recognised as country winners at the prestigious Hallbars Sustainability Report Awards 2020.