Sri Lanka moved up in Heritage Foundation’s world Economic Freedom Index 2020 by three spots to 112th position, although, the country’s economy remains rated mostly unfree for the sixth year in a row. In the 2020 index, Sri Lanka’s overall scor

The World Bank (WB) has downgraded Sri Lanka from an upper-middle-income country to a lower middle-income one as the country’s Gross National Income (GNI) per capita slipped below upper-middle income country threshold of US$ 4,046.

Finance companies can now opt to retain their directors who reach 70 years of age while serving in their respective boards as the Monetary Board has eased rules on the maximum age of a sitting director as companies scramble to fill vacant board seats

Cementing an international reputation for excellence, Hatton National Bank PLC was ranked among the Top 1,000 World Banks 2020 for the fourth consecutive year by the UK’s The Banker magazine.

The global market will soon see zero pesticide residue in premium Ceylon Tea product range as the Sri Lanka Tea Board (SLTB) urges industry players to resort to best agricultural practices that would ensure no trace of chemicals in the final product.

The World Bank has announced Chiyo Kanda as the new Country Manager for Sri Lanka.

The recently approved amendments to the listing rules of the Colombo Stock Exchange (CSE) by the Securities and Exchange Commission of Sri Lanka (SEC) will enable shareholders to receive dividends declared by listed companies much faster.

The World Bank has announced Chiyo Kanda as the new Country Manager for Sri Lanka.

The Securities and Exchange Commission (SEC) has relaxed some Listing Rules and introduced new rules, making the route less daunting for small and medium-sized enterprises (SMEs) and business start-ups to seek a listing on the Colombo Stock Exchange

Senkadagala Finance PLC yesterday informed the Colombo Stock Exchange (CSE) that it received a US $ 25 million financing facility from the Netherland-based FMO, on June 29, 2020, to enhance its green vehicle portfolio.

Commercial Bank (Ceylon) PLC, the country’s largest private lender in terms of assets, on Tuesday said it was going for a US $ 50 million private placement deal with International Finance Corporation (IFC), a member of the World Bank Group.

The Hambantota port operator, China Merchants Port Holdings (CMPort), saw 23.5 percent of its shares acquired by Fujian Transportation Maritime Silk Road Investment and Management, a share transfer that took place via an online signing ceremony earli

IFC, a member of the World Bank Group, has decided to pull out from the investment made in Cargills Food Processing Company (Pvt.) Ltd (CFC), a subsidiary of Cargills (Ceylon) PLC (CCP).

The Monetary Board of the Central Bank (CB) will consider three shortlisted software development firms to develop a Proof of Concept (PoC) of a shared KYC (know-your-client) facility, based on blockchain technology, for the country’s banking sector

First Capital Research sees a higher probability for a substantial policy rate cut by the Central Bank at its upcoming Monetary Policy Review scheduled for July 20 to discourage banks’ utilisation of Standing Deposit Facility Rate (SDFR)‎ to park

Sri Lankan business leader K.R. Ravindran will assume the Chairmanship of the Board of Trustees of Chicago-based Rotary Foundation today (July 1st).

Sri Lanka Insurance (SLI) at the recently held Annual General Meeting declared that the company has closed year 2019 in a positive note recording a phenomenal growth with exceptional service innovations.

Households owning a desktop computer or a laptop have continued to decline in Sri Lanka during the three years from 2017 to 2019, but the shifting to home working in the aftermath of the coronavirus pandemic may have reversed the trend with people se

Headline inflation as measured by the year-on-year (yoy) change in the Colombo Consumer Price Index (CCPI) declined to 3.9 percent in June 2020 from 4.0 percent in May 2020.

Sri Lanka’s listed corporates are expected to report between 15 percent to 20 percent decline in their earnings, as they prepare to close books on one of the worst quarters on record. Analysts are parsing data to understand each company’s operati

Sri Lanka’s confectionary industry yesterday said it is actively exploring the avenues to shift towards using locally produced coconut oil substitutes and move away from palm oil fats in their production processes, as directed by the government.

The country’s national telecommunication provider, Sri Lanka Telecom (SLT) PLC, is likely to invest US $ 60 million in the upcoming South East Asia–Middle East–Western Europe 6 (SEA-ME-WE 6) submarine cable system, which is scheduled to be comp

The acute shortage of doctors, consultants, trained nurses and other medical staff, has pushed Sri Lanka’s private healthcare sector towards intense competition among the handful of players operating in the sector, leading to poaching and thereby n

Sri Lanka’s most technologically innovative bank HNB PLC reported a smooth transition to contactless remittance transactions parallel to rising demand for digital remittances and cardless withdrawals during the coronavirus lockdown.

At least six people were killed when gunmen attacked the Pakistan Stock Exchange in Karachi yesterday, with a policeman among the dead after the assailants opened fire and hurled a grenade at the trading floor, police said.

Hotel Developers (Lanka) PLC, the owner of Hilton Colombo, has announced that the State-owned entity will delist its shares from the official list of the Colombo Stock Exchange (CSE) in compliance with applicable regulations and procedures.

The Central Bank (CB) yesterday announced a credit guarantee and interest subsidy scheme with a view to further accelerate lending by the banking sector to COVID-19 hit businesses in the country.

Sri Lanka has settled foreign currency loans up to US$ 1,007 million during the three months from April 8 to June 22 using foreign currency reserves as liquidity became challenging due to sour external market conditions and slower foreign earnings re

The Colombo Stock Exchange (CSE) yesterday announced the appointment of Dumith Fernando as the Chairman of CSE Board of Directors with effect from July 1, 2020.

State-owned banking giant, Bank of Ceylon (BOC) and China Development Bank (CDB) are set to enter into a US$ 140 million long-term facility, where drawdown will be under tranches of US$ 70 million each.