Asian markets drifted yesterday on uncertainty about the chances of a fresh US stimulus package as talks for a broader agreement appeared to be back on.

President Donald Trump’s administration imposed sweeping sanctions Thursday on Iran’s banking sector, taking a major new step to cripple the arch-rival’s already struggling economy weeks ahead of US elections.

HSBC will target net zero carbon emissions across its entire customer base by 2050 at the latest, and provide between US$ 750 billion and US$ 1 trillion in financing to help clients make the transition, Chief Executive Noel Quinn told Reuters.

South Asia is set to plunge into its worst-ever recession as the devastating impacts of COVID-19 on the region’s economies linger on, taking a disproportionate toll on informal workers and pushing millions of South Asians into extreme poverty, says

Sri Lanka’s only private sector LPG player, Laugfs Gas PLC stressed that increased emphasis on volume growth is imperative to unlock value and drive growth in key markets.

Defying the expectations that consumer durables sector would take more than a year to recover to its pre-pandemic levels, the sector has seen faster than expected recovery, as pent-up demand has kicked in to salvage the industry from the slump seen d

To support education excellence among children, businessman and philanthropist Dhammika Perera and his wife Priscilla Perera have launched another initiative.

In the wake of an increase in COVID-19 positive cases in the country that is likely to push production facilities to tighten health controls, pioneers in chicken processing, Bairaha Farms PLC announced it will look to automate sections of operation i

The Free Trade Zone Manufacturers Association (FTZMA) has come to the defence of apparel manufacturing giant, Brandix, stating that the entity “should not be victimised and maligned for spreading the virus” at this juncture.

The coronavirus crisis has sparked talk that the world might have reached peak oil demand, but the OPEC cartel sees crude consumption continuing to grow during the next quarter century, driven in large part by greater use of cars in developing count

Fitch Ratings Lanka Limited failed to see any near-term pressure on rupee liquidity, as the Monetary Board of the Central Bank could stay its key policy rates ‘lower-for-longer’, which provides direction as to how the lending rates are priced in

NDB Bank has disbursed over Rs.16.5 billion worth of funds under the COVID-19 Saubhagya loan scheme, at the rate of 4 percent per annum, in a continuing demonstration of the bank’s commitment in supporting the economic recovery.

Transhipment container volumes at the Port of Colombo stagnated in August, after recording a positive growth for the second straight month and reaching pre-pandemic levels in July, mainly due to an acute shortage of containers in the region, impactin

A Chinese experimental coronavirus vaccine being developed by the Institute of Medical Biology under the Chinese Academy of Medical Sciences was shown to be safe in an early stage clinical trial, researchers said.

DIMO Lanka said it closed its head office located on Jethawana Road, Colombo 14, today, as a precautionary measure to contain the possibility of spreading COVID-19 among staffers.

C T Land Development PLC, the owner of shopping mall Majestic City, said it lost tenants during the pandemic outbreak and its immediate aftermath, as the mall’s retail occupants found their businesses being challenged by the pandemic-induced busine

The number of internet subscribers has grown sharply in the second quarter of 2020 as people and firms transitioned most of their work virtual, triggering more demand for hig- speed broadband internet connections in Sri Lanka.

Trade Minister Bandula Gunawardane said an export exhibition centre would be established in the country soon for exporters to display their sample products for prospective foreign buyers.

The Commercial Bank of Ceylon yesterday announced the completion of all formalities relating to the private placement of shares with the International Finance Corporation (IFC) and the receipt of US$ 50 million (Rs.9.215 billion) from the latter for

Adding to the drumbeat of warnings coming out from rating agencies on developing economies and their banking systems from the pandemic-induced economic damage, Moody’s Investors Service said risks will grow in Asia Pacific banks as asset quality de

The Special Deposit Account (SDA) introduced by the government at the height of the pandemic to collect foreign currency from Sri Lankans living here or abroad had surpassed the US$ 200 million mark by end-September.

Diversified entity, Renuka Holdings PLC, on Monday announced its plans to raise Rs.1.03 billion via a rights issue to settle debts and for future investment purposes.

Deputy Governors Dr. Nandalal Weerasinghe and H.A. Karunaratne have retired from the Central Bank.

The indices at the Colombo Stock Exchange plunged yesterday with the discovery of a new COVID-19 cluster in Divulapitiya, in the Gampaha district, triggering fears that the virus, which was earlier thought to be well under control, has reached commun

The foreigners, who will invest in Sri Lankan government securities, assisted by swap arrangements to safeguard them from foreign exchange risk, will receive the marked-to-market gain, if they choose to unwind or terminate the contract prior to its m

The International Business Magazine recently named NDB Group CEO Dimantha Seneviratne as the ‘Best Banking CEO of the Year 2020’ in Sri Lanka, at its International Business Magazine Awards 2020.

The Sri Lanka Tourism Development Authority (SLTDA) yesterday announced its partnership with Australia’s Market Development Facility (MDF) to develop a research roadmap, which would pave the way for Sri Lanka to be positioned as Asia’s foremost t

BBC: A team of scientists in India has developed an inexpensive paper-based test for coronavirus that could give fast results similar to a pregnancy test.

The Securities and Exchange Commission (SEC) yesterday revealed that engineering and infrastructure company, MTD Walkers PLC is yet to settle the aggregate fine imposed for not complying with the listing rules.