Keeping up with the ongoing digital trend, State-managed retail chain Lanka Sathosa, launched its online shopping platform yesterday.

State-owned retail chain, Lanka Sathosa has posted record revenue of Rs.17.62 billion for the first half of 2020 (1H20), the highest-ever performance achieved since its establishment, senior officials of the entity said.

The Colombo Stock Brokers Association (CSBA) yesterday congratulated the new government, Prime Minister Mahinda Rajapaksa, and newly-appointed State Minister for Finance, Capital Markets, and State Enterprise Reforms, Ajith Nivard Cabraal.

The Central Bank (CB) plans to launch a housing loan scheme targeting low and middle-income groups in the country as it explores fresh loan schemes to support the economy with the COVID-19 relief loan scheme inching closer towards its completion.

LVL Energy Fund PLC said two of its wind power plants connected to Norochcholai grid substation were unable to dispatch electricity since July 25 due to an equipment failure at the grid substation.

Sri Lanka’s tea exports witnessed a 13 percent Year-on-Year (YoY) expansion for the month of July, recording the highest quantity shipped for the corresponding month over the last five years.

The Monetary Board of the Central Bank of Sri Lanka (CBSL) announced its decision to maintain the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) at the current levels of 4.50 percent and 5.50 percent.

Royal Ceramics Lanka PLC (RCL) reported a earnings of Rs 9.2 million or 8 cents a share for the June quarter (1Q21), recording a slump of 97 percent Year-on-Year (YoY), driven by lower sales resulting from COVID-19 related lockdown measures in the qu

First Capital Research predicts a 50 percent probability for the Central Bank (CB) to cut policy rates for fifth consecutive instance for the first time in history to discourage the banking sector utilising the Standing Deposit Facility Rate (SDFR).

Auerbach Grauson & Co., a brokerage that specialises in international trading, exited Lion Brewery (Ceylon) PLC (LION) yesterday by divesting its full shareholding below the market price, which appeared to be a negotiated deal.

The new government will present a Vote on Account to Parliament on August 28 to seek parliamentary approval to allocate money for its expenditures.

President Donald Trump has voiced approval of Oracle Corp’s reported bid for TikTok, the Chinese video-sharing sensation that could also be bought by Microsoft.

Finance Minister Mahinda Rajapaksa has received the Cabinet nod to appoint a committee to look into the irregularities and malpractices that were said to have taken place in State-owned banks from January 8, 2015 under the previous regime.

International Monetary Fund (IMF) Resident Representative to Sri Lanka Tubagus Feridhanusetyawan paid a courtesy call on the State Minister of Finance, Capital Markets and Public Enterprise Reforms Ajith Nivard Cabraal at the Finance Ministry.

Finance Minister Mahinda Rajapaksa received the nod of the Cabinet of Ministers today to appoint a committee to look into the irregularities and malpractices that were said to have taken place in the state-owned banks during the period the previous g

Sri Lanka Deposit Insurance and Liquidity Support Scheme (SLDILSS) set up to redress to depositors of failed financial institutions has released Rs.851.8 million as compensation during 2019, while the Fund has grown by nearly Rs.11 billion to Rs.62.7

Sri Lanka’s foreign debt obligations due for August and September stand at US$ 300 million before the country settles a billion dollars in debt it borrowed via a sovereign bond in October, data from ICRA Lanka showed.

Sri Lanka’s monopoly cigarette player, Ceylon Tobacco PLC (CTC) says cigarette sales are set for a pre-pandemic level recovery after recording sharp 38 percent year-on-year (YoY) decline in volumes during the June quarter (2Q20).

Prices of locally produced confectionery products have undergone an upward revision in the recent months—a move taken by the industry to help ease the financial constraints faced since mid March.

Job losses among Sri Lanka’s youth is projected to top 100,000 this year as a result of the COVID-19-induced crisis, driving the country’s already high youth unemployment rate above 30 percent, according to a latest report.

Sri Lanka’s manufacturing and services activities continued to expand in July, as economic activities were seen normalising gradually, the Purchasing Managers’ Indices complied by the Central Bank (CB) showed.

Colombo Dockyard PLC (CDPLC) is moving towards executing an already signed contract with Misje Eco Bulk AS (Misje), a Norwegian company, to build six firm plus four optional Eco bulk carriers.

Sri Lanka’s apparel industry, which faced a major setback due to the global health crisis, is finally beginning to witness progresses, with buyer interest showing signs of improvement.

Commercial Bank of Ceylon PLC reported subdued top line performance amid low business volumes and impacts stemming from the relief afforded to its clients affected by the pandemic but the gains made from its investments in government securities (G-Se

Two Softlogic group subsidiaries in the financial services sector yesterday revealed plans to collectively raise up to Rs.2.9 billion via rights issues, subject to regulatory and shareholder approval.

Sunshine Holdings PLC’s (A(lka)/Stable) 100 percent acquisition of Sri Lanka-based confectionery maker Daintee Limited will increase the cash flow of the group’s fast-moving consumer goods (FMCG) segment, which is defensive in nature, as the lowe

The businessman appointed to lead Norway’s US $ 1.1 trillion sovereign fund should not be allowed to take up the job unless he divests his holdings in a hedge fund, the opposition Labour Party told daily VG and broadcaster NRK on Friday.

Taxi hailing app, Uber relaunched its on on-trip ‘24x7 Safety Helpline’ in Sri Lanka in an effort to ensure and boost the safety of riders.

Sri Lanka’s trade deficit fell to US$ 161 million in June compared to US$ 316 million in the same month last year, recording the lowest monthly deficit in the country’s merchandise trade since August 2009 as exporters continued to push ahead whil

The average weighted prime lending rate (AWPR) fell by 40 basis points (bps) last week, logging the steepest weekly decline in recent times while the market weighs in on another round of monetary policy easing this week as the Monetary Board of the C