Vajira Kulatilaka, who recently retired from the NDB Group, has been appointed as a Non-Executive, Independent Director of Sampath Bank PLC with effect from June 25.

The government is likely to delay the re-opening of the country’s borders as previously planned for August 1, to facilitate the return of Sri Lankan workers stranded abroad due to COVID-19 pandemic.

Income from migrant workers recorded a rebound from the depths it hit in April—may be an indication that the worst is over for the country’s largest source of foreign currency earnings— with work gradually returning to normalcy amid easing of l

The Central Bank of Sri Lanka (CBSL) has taken measures to commence the second stage of compensation payment to The Finance Company PLC (TFC) depositors with effect from July 2, 2020.

The United Nations Development Programme (UNDP) recently supported the National Police Commission (NPC) to provide protective equipment to Police officers engaged in COVID-19 tasks.

The Sri Lanka Tourism Development Authority (SLTDA) has got itself into a tussle with real estate and development company Lanka Realty Leisure Ltd, where the latter had filed for an enjoining order, which was issued by the Colombo District Court agai

Rakuten Viber, one of the world’s leading messaging apps for free and secure communication, announced it will cut all business ties with Facebook.

Asian markets bounced back yesterday from the previous day’s steep losses following a strong lead from Wall Street, but an increase in infections across the planet is fanning worries about a second wave.

Vietnam warned yesterday the virus pandemic had swept away years of economic gains as Southeast Asian leaders met online for a summit also dominated by anxiety over Beijing’s moves in the flashpoint South China Sea.

Unilever will drop the word “fair” from its “Fair & Lovely” skin lightening products, it said this week in the latest makeover of a brand in response to a global backlash against racial prejudice. Skin lightening cosmetics have a huge market

The tea auction saw a total of 6.5 MnKg come under the hammer this week where the lot was met with fair general demand.

Cabinet of Ministers has approved to extend foreign exchange controls on outward remittances for another six months to limit outflows to preserve foreign currency reserves while rolling back relaxing of certain regulations on inward remittances amid

Hemas Holdings PLC yesterday announced the appointment of Kasturi Chellaraja Wilson as Group Chief Executive Officer, effective October 1, 2020, succeeding Steven Enderby.

In another round of dollar funding, Sri Lanka raised US$ 100 million through Sri Lanka Development Bonds in multiple tenors, going up to 5 years at an auction held from June 19 to June 25 amid authorities ramping up borrowings as pandemic narrowed ot

The Asian Development Bank (ADB) retained its first place ranking in the 2020 Aid Transparency Index (ATI), an independent measurement of aid transparency released at the Brookings Institution in Washington, D.C.

Bank of Ceylon (BOC) announced the issuance of bonds with near characteristics to shares to bolster its additional Tier I capital by up to Rs.5.0 billion.

The Commercial Bank of Ceylon has announced a further lending rate cut, slashing rates by up to 2 percent on all categories of loans in a continuing effort to bolster businesses affected by the COVID-19 pandemic by providing affordable access to desp

In line with the government’s development programme and with the aim of uplifting the small and medium businesses adversely affected by the COVID-19 pandemic, People’s Bank has introduced a special loan scheme with an interest rate of just 6 perc

There could have not been a more opportune time for the SME sector in Sri Lanka than today with historically low borrowing cost, liquidity support, lower taxes and eased regulations but they could still be held back if the country’s technical and v

Sri Lanka will meet all its external debt obligations due in 2020 and would also regain access to international markets in the year that follows, albeit there could be some weaknesses persisting in the country’s external liquidity position even bey

Sri Lanka Tourism authorities said they were collaboratively exploring avenues of re-positioning the country as the world’s top destination with an excellent healthcare system, by introducing extensive health and safety protocols to ensure a ‘saf

Sri Lanka’s April merchandise trade data reflected some harsh reality, showing the stubborn reliance of the country on imports for food and beverages as Sri Lanka could not cut down on such imports as the bill on such goods further increased in the

The Central Bank yesterday said it had so far approved 13, 861 loan applications under the Phase-I of Saubagya COVID-19 Renaissance Facility loan scheme, totaling Rs.27.9 billion.

Elpitiya Plantations PLC, an associate company of Aitken Spence PLC recently entered into a shareholders’ agreement with Sim Leisure Group Ltd., a listed company in Singapore Stock Exchange, to develop and operate an adventure theme park under the

Sri Lanka’s premier professional association for bankers, the Association of Professional Bankers (APB) has expressed grave concerns over the arbitrary methodology followed by the government in removing the chief executive officers/general managers

The Asian Development Bank (ADB) has funded the construction and equipment of a new molecular polymerase chain reaction (PCR) laboratory at the Colombo East Base Hospital to support Sri Lanka in its response against the coronavirus disease (COVID-19)

Sri Lanka’s consumer prices measured based on the broader National Consumer Price Index (NCPI) or national prices rose by 5.2 percent in the twelve months to May, marking a deceleration from 5.9 percent in April on the higher base that prevailed in

Janashakthi Insurance PLC Chief Executive Jude Fernando had notified the company’s board of directors of his intention to resign from his position of Director/CEO with effect from August 31, a stock exchange filing by the insurer said.

Local start-ups should critically re-evaluate current business models by taking into account the direction of the business in the short term, to add fresh impetus to the sector and greater emphasis from the government is required to position Sri Lank

Sri Lanka’s tea export earnings could potentially top US$ 1.5 billion this year, if the country’s banking sector and the government extends the required supportive measures to the industry including a competitive interest rate regime, according t