Gearing Sri Lanka to a ‘5G ready status’ with its 5G trial network in select locations, across the country, Dialog Axiata PLC, Sri Lanka’s premier connectivity provider partnered Huawei to unveil the highly anticipated mid-range 5G smartphone,

The accumulation of new debt has significantly decelerated in recent months as borrowings, which peaked during coronavirus, largely ceased while the government consciously cut spending to prevent the budget from recording a blowout deficit.

The second quarter (2Q) gross domestic product (GDP) figures are expected to be out by mid-October, after nearly a month’s delay as the pandemic-induced lockdowns had slowed the data gathering and processing to calculate the national output.

Leading agribusiness company Watawala Plantations PLC (WATA), has reached the next milestone in sustainable oil palm plantations development, achieving the Roundtable on Sustainable Palm Oil (RSPO) certification for the palm oil mill and concessions

The 31,000-strong team at Hayleys Group can now enjoy a working vacation from any Hayleys property around the country in a first time ‘Work-from-Hotel’ initiative offered by any Sri Lankan company.

SLFFA Cargo Services (SLFFACSL), the commercial arm of Sri Lanka Freight Forwarders Association (SLFFA) is planning to invest Rs.500 million to setup an off port facility to handle LCL cargo (less than a container load), transhipment cargo and entrep

Colombo district prices slowed for the second month in a raw in September mainly on higher base effects in the year earlier period, but the prices of both foods and non-foods rose during the month from August as coconut prices weighed on the food bas

While stressing on Sri Lanka’s neutral foreign policy, President Gotabaya Rajapaksa yesterday said the island nation is open for foreign investments.

Laugfs Gas PLC yesterday entered into a strategic partnership with Abans Group, enabling Sri Lankans to conveniently purchase their cooking-related products, including gas cylinders, gas cookers, freestanding cookers and other appliances, through the

MAS Holdings, the largest and leading design-to-delivery apparel solutions provider in South Asia, renewed its commitment yesterday to empower more of its employees by extending its original undertaking to provide health and well-being education and

As the formulation of Budget 2021 nears, the government is urged to explore the possibility of absorbing the cost of providing maternity leave benefits (MLB) by extending to the private sector a tax relief, so that discrimination against women at the

A historic memorandum of understanding (MoU) was signed virtually by Ceylon Chamber of Commerce Chief Executive Officer Manjula de Silva and Afghanistan Chamber of Commerce and Investment Chief Executive Officer Sayed Zaman Hashemi, witnessed by Amba

As the world celebrates the United Nations 75th anniversary and comes together to discuss how to respond and rebuild from the COVID-19 pandemic, leading social innovator EarthTech is launching Together in Action (TiA) to help bring people together an

While Sri Lanka is all set to settle a billion dollar sovereign bond maturing on October 4 and has repeatedly expressed its ability and willingness to meet all its upcoming debt obligations when they fall due, yields of Sri Lanka’s international so

Sri Lankan government bonds tumbled heavily yesterday, a day after one of the main credit rating agencies, Moody’s, warned about the mounting pressure on the country’s finances.

Poultry industry stocks gained sharply on the Colombo Stock Exchange (CSE) yesterday with the Cabinet of Ministers deciding to ban cattle slaughter in Sri Lanka.

Softlogic Capital PLC, the financial sector holding company of the diversified Softlogic Holdings PLC yesterday said it has agreed to buy the majority stake of Abans Finance PLC from Abans PLC in a Rs.995 million deal.

Moody’s Investors Service yesterday downgraded the long-term foreign currency deposit ratings of Bank of Ceylon (BOC), Hatton National Bank PLC (HNB) and Sampath Bank PLC to Caa1 from B3, and the banks’ long-term local currency deposit ratings to

Stock market regulator, the Securities and Exchange Commission (SEC) yesterday said significant contributions to market turnover have been recorded from key cities in the country apart from capital Colombo. “Significant contributions to turnover ha

The main All Share Price Index (ASPI) of the Colombo Stock Exchange (CSE) yesterday crossed the 6,000-point psychological threshold, amid aggressive play on a couple of illiquid stocks, which have limited public free float.

Sriyan De Silva Wijeyeratne, who has been serving as Managing Director of Hemas Manufacturing and Group Digital Lead since May this year, has been appointed as an Executive Director to the board of Hemas Holdings PLC, with effect from October 1, 2020

Homegrown mid-sized technology service player, 99X yesterday said it is gearing up for a new wave of growth, one that would move beyond the borders of Sri Lanka, following the “complete” digital transformation of the entity.

Despite the challenges, Sri Lanka’s tea industry, with state assistance, is hoping for a gradual transformation to a sophisticated industrial enterprise by venturing into the production of a wide range of value-added products while enhancing effort

The deficit between the government’s revenue and expenditure for the seven months ended July 2020, expanded by Rs.188.5 billion, declining from the deficit of Rs.214 billion recorded for the first six months, while the data showed tax revenues maki

The new lending rates, the rates which capture the prices of a broader spectrum of loans from small businesses to house mortgages to personal loans, have further moved downwards in August, in a sign that the excess liquidity and aggressive monetary e

High-net-worth investor Dr. T. Senthilverl has upped his stake in Industrial Asphalts (Ceylon) PLC (ASPH), to over 10 percent, the Colombo Stock Exchange was informed yesterday.

Private sector credit made a strong rebound in August as banks ramped up disbursements of credit to private borrowers, from large to small businesses and individuals as economy gathered pace after the coronavirus put a dampener on credit growth durin

Worker remittances to Sri Lanka rose in August, continuing its ascent for the fourth month in a row, alleviating fears that the key foreign exchange income to the country will leave a deeper hole adding to the external pressures triggered by the cor

Sri Lanka’s booming FinTech industry’s lack of focus on technological innovations such RegTech products in enhancing regulatory compliance is creating serious challenges in ensuring anti-money laundering/combating the finance of terrorism (AML/CF

The Ceylon Chamber of Commerce will be organising the 20th Sri Lanka Economic Summit (SLES) on 1st and 2nd of December 2020 at the Shangri-La Hotel, Colombo.