Dialog Axiata PLC this week said the pandemic had an adverse impact on its revenues while the provision for bad debt hit profits as the group extended credit to keep people connected during the lockdowns, which significantly affected cash collection

Gold has topped US $ 2,000 (£1,527) an ounce for the first time as traders look for havens amid the pandemic.

International banks in Hong Kong are caught in the crossfire of competing laws enacted by the United States and China as the superpowers clash over the city’s future, with analysts warning businesses are being forced to pick a side.

The Colombo Stock Exchange yesterday said it has decided to close the market at 12.30 p.m. today (August 05th) in view of the parliamentary elections.

Issuing the national accounts estimates for the first quarter of 2020 (1Q20), the Department of Census and Statistics (DCS) yesterday said Sri Lanka’s GDP contracted 1.6 percent compared to 3.7 percent growth recorded in the first quarter of 2019.

German chemicals giant Bayer reported yesterday a second-quarter net loss of 9.55 billion euros (US$ 11.26 billion), reflecting the ‘exceptional impact’ of a US settlement of thousands of claims that its glyphosate weed killer may have caused can

Early indications have shown that the Sri Lankan economy is on course to some recovery in the ongoing quarter with lower borrowing costs and benign prices continuing through the year as the country is going to a crucial poll to decide who could be be

Pan Asia Bank reported higher net interest income and profits for the three months ended June 30, 2020 (2Q20), as the bank took advantage of its high priced loans by taking time to adjust them lower while the loan impairments held back due to relief

In a strategic move to build in agility, create robust governance structure, transform and steer the company into the next tier of growth, Lankem Ceylon PLC yesterday announced the appointment of Suren Goonewardene as Managing Director for its opera

Credit card spending, a gauge for consumer spending of an economy, showed a robust increase in June, in a sign that the economic activities are gaining momentum faster than expected after the coronavirus sapped consumer spending, as people were force

The Securities and Exchange Commission (SEC) has announced the introduction of a unit trust-based real estate investment trust (REIT) framework to the Colombo Stock Exchange (CSE).

Sri Lanka’s inflation measured by the Colombo Consumer Price Index (CCPI) increased in July from a month ago, driven mostly by the price increases in non-food items such as healthcare, clothing and transport, as people who were mostly confined to t

Vidullanka PLC, a forerunner in the Sri Lankan renewable energy industry, has taken its second gigantic leap in Africa by commissioning the 6.5MW Bukinda Small Hydropower Project in Uganda.

HSBC yesterday reported a 69-percent slump in net profit, joining a number of major banks whose earnings have been slammed by the coronavirus fallout.

The WTO’s bid to pick an acting chief before September has been complicated by US ‘politicisation’ of what should have been be a straightforward process, a diplomatic source lamented this week.

The Sri Lanka Institute of Marketing (SLIM) held its 50th Annual General Meeting on June 26th at Marino Beach Hotel, adhering to the health and safety guidelines given by the government.

The Japanese government has donated a large shipment of canned fish, weighing 388MT and worth JPY 300 million (Rs. 519 million) to the United Nations World Food Programme (WFP) and the Government of Sri Lanka, to meet the protein needs of school chil

Citra Lab has facilitated design thinking approaches for the Presidential Task Force (PTF) for economic revival and poverty alleviation, to introduce practical tools and approaches to tackle larger development issues which are to be taken on by the P

The German government has allocated additional funds amounting to 2.05 million Euros to Sri Lanka to support its efforts in facing the greater challenges posed by the current global pandemic.

The Central Bank (CB) yesterday said several media reports containing certain macroeconomic projections have been erroneously attributed to them.

The Ceylon Motor Traders Association (CMTA), the only trade association in Sri Lanka that represents automotive manufacturers through their local importers, yesterday urges the government to provide a clear direction on the period of the vehicle impo

Becoming the first bank to report June quarter (2Q20) interim results, Seylan Bank PLC may have set the tone for the expected performance of the country’s banking sector for the three months, where economic activity lagged due to COVID-19 lockdowns

John Keells Hotels PLC reported its worst performance during the three months to June 30, 2020 (1Q21), as the resort operator in both Sri Lanka and the Maldives reported only a nominal income amid global tourism coming to an abrupt halt, due to the n

The average new lending rate in the economy is seeing easing with the aggressive monetary policy easing instituted from the onset of the pandemic as interest rates on loans extended to SMEs are seen coming down, though with a lag compared to the rate

China’s Huawei has overtaken Samsung to become the number-one smartphone seller worldwide in the second quarter on the back of strong domestic demand, industry tracker Canalys said yesterday.

Swiss food giant Nestle said yesterday that second quarter growth slowed as lockdowns aimed at halting the spread of COVID-19 shuttered eateries, while confined consumers relied on home reserves.

Sri Lanka Chamber of Small and Medium Industries (SLCSMI) yesterday urged the government to expand and solidify the short-term measures introduced in support of the country’s SME sector amid COVID-19 crisis, in order to retain the momentum for the

Sri Lanka raised US $ 100 million via development bonds at an auction held between July 22 and July 27, the second such auction since June 25, when the government raised a similar amount, as the government ramped up borrowings for dollar liquidity.

Gold chalked up another record peak on Tuesday, while equity markets struggled with mounting coronavirus fears amid a political fight in Washington over another fiscal package to support the battered US economy.

Vallibel Properties Ltd has signed an agreement with the Board of Investment (BOI) for the construction of its 16-storey office complex.