Central Bank Governor Prof. W.D. Lakshman has appointed a three-member committee to probe into the alleged irregular and unlawful activities at finance and leasing companies.

Apparel major, MAS Holdings, which is also the largest lingerie manufacturer in South Asia, has announced a voluntary separation scheme (VSS) across all the clusters of the group, to reduce its overall employee base by 4 percent by this August, amid

In another drastic move, the Monetary Board of the Central Bank yesterday slashed the Statutory Reserve Ratio (SRR) applicable on all rupee deposit liabilities of licensed commercial banks by 200 basis points to 2 percent.

Sri Lanka’s manufacturing and service sectors made notable rebounds in May after hitting the rock bottom in April as the country started to gradually relax COVID-19 related mobility restrictions in the month, according to the Purchasing Managers’

Sri Lanka Tourism Promotion Bureau (SLTPB) is planning to launch the long awaited multi-billion five-year global tourism promotion campaign next January, amid fears over possible shortage of funds, if tourism doesn’t bounce back to the pre-COVID le

Lanka IOC (LIOC) has secured business from Ceylon Electricity Board (CEB) to supply Servo branded lubricants to Sapugaskanda Power Station. This business was secured through competetive bidding by LIOC for the first time.

The adequate capital buffers built, specially during the last three years, will soften the negative impacts on the banking sector stemming from the new coronavirus-driven economic damage, which has made the operating environment for banks challenging

Subjects related to advanced agricultural technologies are proposed by the authorities to bridge the glaring lack of knowledge in technology use in agricultural activities and to promote its adoption, which will eventually result in precision in appl

The local apparel sector has stressed the need to establish a stronger online presence to ensure it anchors strong in the post-COVID-19 era and hold a sizable portion of the global fashion industry.

Pan Asia Bank has become the proud recipient of a US $ 7.75 million (approx. Rs.1.5 billion) green bond launched by Switzerland-based Symbiotics, the leading market access platform for impact investing.

Several high-net-worth investors and local institutional investors, including Sohli Captain, Nimal Perera, Sri Lanka Insurance and Capital Trust, were believed to be among the buyers of LOLC Holdings PLC shares, in the last two trading sessions, amid

Emirates has announced the launch of outward-bound passenger flights from Sri Lanka, starting Saturday, June 20, 2020, to facilitate travel for foreign nationals as well as Sri Lankans, who need to return to families, jobs or education overseas.

The repeated pleas from the construction sector for due payments from the state have finally been answered, with the government having decided to settle all certified invoices by end of June.

Encouraged by the recent move to re-impose special commodity levy on canned fish imports, Sri Lanka’s canned fish manufactures say that the country could commence exporting canned fish products within two years with the right backing of the governm

Fairfirst Insurance has become the proud recipient of the prestigious ‘Fairfax Presidents’ Innovation Award’. This award is special for Sri Lanka since Fairfax operates out of more than 18 countries across five continents through some of the l

Sri Lanka reported a slightly stretched budget deficit of 2.1 percent of the estimated gross domestic product (GDP) for the first quarter ended March 31, 2020, up from 1.8 percent recorded in the corresponding period in 2019, as State revenues slippe

The Finance Houses Association of Sri Lanka (FHA Sri Lanka) in its capacity as the apex association of 41 registered licensed finance companies in Sri Lanka, has condemned the alleged murder of Self Employed Professionals’ Three-Wheeler Association

Private sector credit from the banking sector slumped during April to just over Rs.13 billion from a massive Rs.120 billion surge recorded in March as most of the economic actors went in to hibernation during COVID lockdowns from mid-March.

Well known private sector executive Rajiv Meewakkala, who also has experience in the public sector, is to take reins from Suresh Shah to become the CEO of Sri Lanka’s largest brewer, Lion Brewery PLC.

Securities and Exchange Commission (SEC) Chairman Viraj Dayaratne PC paid a courtesy call on Central Bank Governor Professor W.D. Lakshman recently. He was accompanied by SEC Director General Chinthaka Mendis.

China’s coronavirus travel ban is wreaking havoc among foreign companies and international schools, with many fearing for their future as executives, teachers and students are left stranded in their home countries.

Sri Lanka’s gross official reserve lost US$ 715.92 million during May to end the month at US$ 6,493.6 million, but the rupee continued its ascend against the US dollar, alleviating concerns of a possible run on the rupee amid controls on certain im

Thailand will open ‘travel bubbles’ with countries which have comparably low coronavirus infections, officials said yesterday, as the kingdom tries to claw back money for its battered tourism sector.

Chinese e-commerce giant JD.com said yesterday it raised HK$30.1 billion (US$ 3.9 billion) in its Hong Kong initial public offering, making it the world’s second-biggest so far this year.

Britain will apply “light-touch” border checks on goods from the European Union when the Brexit transition period ends this year so as to help firms hit by the coronavirus crisis, reports said yesterday.

German Chancellor Angela Merkel and the Presidents of Botswana, Colombia, Costa Rica, Ethiopia will join dozens of Chief Executive Officers and UN chiefs at the United Nations Global Compact Leaders Summit next week to address the private sector’s

Equities and oil sank yesterday while the dollar rallied as investors ran for the hills following the worst Wall Street rout since March, fuelled by worries about the economic recovery and a second virus wave in the US.

The inquiring committee appointed to investigate alleged irregularities in the ETI Investments met President Gotabaya Rajapaksa at the Presidential Secretariat this week.

People’s Bank has stepped forward to boost the government’s efforts to rebuild Sri Lanka while providing eligible individuals and organisations with a significant investment opportunity by introducing the People’s Bank Special Deposit Account (

The total externality cost (social and environmental damage) due to the emission of greenhouse gases by (GHGs) by Lak Vijaya Coal Power Plant (LVPP) in Norochcholai has reached Rs.36.6 billion (US$ 244 million) per annum, while burdening the local ec