Sri Lanka’s economy is expected to contract by an estimated 1.4 percent in 2020, the first time since the economy shrank in 2001, while First Capital Research recalibrated its earlier assessment to a dourer scenario, as the lockdowns prolonged and

Hatton National Bank PLC (HNB) reported modest operating performance for the March quarter (1Q20) while the bottom line received a strong boost from the removal of some taxes on financial services. HNB reported a 12 percent decline in the net interes

The US is facing a severe economic downturn amid the global pandemic, but will not suffer another Great Depression and will see a recovery begin later this year, Federal Reserve Chair Jerome Powell said Sunday. The world’s top economy was strong be

Singer Sri Lanka PLC’s March 2020 top line came in at below the previous year’s levels but reported higher operating profits, possible from reduced selling and administrative costs, as the consumer durables juggernaut failed short of its targets

The International Chamber of Commerce (ICC) has called on governments across the globe to prioritise micro, small and medium enterprises (MSMEs) and stressed the necessary efforts must be taken to fully tailor to support such entities, in the context

BLOOMBERG: Sri Lanka’s dollar bonds have been the worst-performing sovereign notes in Asia this year. But BNP Paribas Asset Management and Union Investment Privatfonds GmbH say it might now be time to buy.

The COVID-19-induced downturn in the Sri Lankan manufacturing sector deepened during April as reflected by further contraction in the Manufacturing PMI, which recorded at an index value of 24.2, with a fall of 5.8 index points from the previous month

As Sri Lanka’s debt burden continues to mount alongside the pressures faced in reducing the implications of the COVID-19 crisis on the economy, Fitch Ratings said it expects the island nation’s debt to reach close to 100 percent of its gross dome

The Monetary Board last week sent instructions to Sri Lankan operations of foreign banks against repatriation of profits and suspended share buybacks for all banks until the end of this year.

Nations Trust Bank PLC (NTB) had been building its loan book, albeit slowly before the pandemic forced the businesses to shutter, which put a strain on its operating performance for the three months ended in March 31, 2020, but the taxes taken off fr

Dialog Axiata PLC stood broadly intact during the quarter ended March 31, 2020 at the operating level, but said future revenues could be lower and profits could be sour from possible non-repayment of customer dues as the company extended credit and d

Sri Lanka Telecom PLC (SLT) reported steady revenues and strong operating profits for the three months ended March 30, 2020, although the telecom juggernaut is facing pressure on revenues, earnings and cash flows from delayed or at times no collectio

Fitch Ratings has assigned DFCC Bank PLC’s (AA-(lka)/Negative) proposed Sri Lanka rupee-denominated senior unsecured, unlisted debentures an expected National Long-Term Rating of ‘AA-(EXP)(lka)’.

Credit extended by banks to the private sector gathered steam in March after making early gains in February, showing initial signs that the Sri Lankan economy was off to a robust recovery after years of stagnation before being struck by the China ori

Bangladesh’s two bourses — Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) —have extended the ongoing closure till May 30 after the government extended its shutdown of offices to stem the spread of COVID-19, local media reports s

Taiwan Semiconductor Manufacturing Co Ltd, the biggest contract chipmaker, said it plans to build a US$ 12 billion factory in Arizona in an apparent win for the Trump administration’s efforts to wrestle global tech supply chains back from China.

Asian stocks edged up yesterday but were on course to end the week lower as deteriorating U.S.-China relations add to uncertainties over how fast economies can recover as they start to emerge from lockdowns.

With the emergence of COVID-19 in Sri Lanka, the country has seen far reaching social and economic consequences affecting the livelihoods of many individuals. Every country needs to act immediately to prepare, respond, and recover; and innovative min

The Securities and Exchange Commission (SEC) has made a move to broad base the Colombo bourse, and as a first step it set up a joint committee comprising the regulator and market operator.

The global economy could suffer between US$ 5.8 trillion and US$ 8.8 trillion in losses—equivalent to 6.4 percent to 9.7 percent of global gross domestic product (GDP)—as a result of the novel coronavirus disease (COVID-19) pandemic, says a new r

Sri Lanka’s trade deficit in the month of February widened by US$ 574 million as exports languished and imports rose, latest data released by the Central Bank showed.

Sales at Sri Lanka’s monopoly cigarette player, Ceylon Tobacco PLC (CTC), fell during the March quarter (1Q20) due to excise-led price increases and business interruptions caused by COVID-19 lockdowns.

Weft-knitted fabric maker Teejay Lanka PLC has ventured into the manufacturing of Personal Protection Equipment (PPE) to cater to the growing demand in local and international markets as key apparel brands have pushed back orders by several months am

Eshana De Silva has been appointed to the board of National Development Bank PLC (NDB) with effect from May 14, 2020, and the board of directors thereafter appointed him as Chairman of the Board.

Although the impact on Keells Food Products PLC (KFP) by the coronavirus-induced business interruptions during the three months to March 2020 was modest, the company anticipates some deeper implications for the sale of its processed meat as the virus

The Public Utilities Commission of Sri Lanka (PUCSL) has issued fresh guidelines in consultations with the Ceylon Electricity Board (CEB) and Lanka Electricity Company (LECO) to grant a grace period for consumers to settle their accumulated electrici

Commercial Bank of Ceylon PLC’s (ComBank) March quarter performance showed consumption had picked up in economy after taxes were cut, interest rates were reduced and sentiments turned positive following the presidential election last year, as the b

Informal sector appears to be making the most of the direct-to-consumer model,which flourished during the two-month long shelter-in-place conditions as the branded and more established players with their e-commerce platforms and delivery channels fai

Sri Lanka’s rupee is expected to feel the pressure from the dwindling official foreign reserves combined with the impacts from the increased money printing towards the latter part of the year, when the demand rebounds from the current sluggish leve

The Colombo Stock Exchange (CSE) rebounded yesterday after two days of losses, with the benchmark All Share Price Index (ASPI) increasing by 2.81 percent or 119.30 points to close at 4,367.25 points while the S&P SL20 index also increased by 2.59 per