Fitch Ratings yesterday cut the ratings of three Sri Lankan banks to reflect the sovereign rating, which was downgraded a few weeks ago to ‘B-’ with a ‘Negative’ outlook, citing heightened public and external debt sustainability challenges fr

UB Finance Limited (UBF) has yet again failed to meet the extended timeline given by the Central Bank, which lapsed on March 31, 2020, to meet the various statutory thresholds, including the one to bring in fresh capital to meet the minimum capital l

The Central Bank (CB) has categorised several new assets held by the banking sector as liquid assets, in considering the potential adverse impact on the liquidity position of licensed commercial banks and licensed specialised banks from the COVID-19

Sri Lanka’s credit to the private sector began picking up in February after months of hiatus and then met with new coronavirus, which sent everything packing back to ground zero.

With Hambantota International Port (HIP) resuming operations with Litro Gas, the port completes its full complement of energy services, positioning itself to vie for hub status in the South Asian region.

Sri Lanka’s organised retailers request landlords to halve rentals/leases for the next six months citing a whopping 85 percent possible drop in revenue across all retail establishments and sectors due to the prevailing situation in the country caus

The International Chamber of Commerce (ICC) Sri Lanka yesterday said it fully supports President Gotabaya Rajapaksa’s initiative to re-open the Sri Lankan economy safely, prudently but decisively and to move towards restoring economic activity at l

National carrier, SriLankan Airlines, is making a decisive move to rescue the country’s much troubled export industries by launching dedicated cargo services to a host of destinations and throwing a lifeline to the nation’s economy at a time of g

Equities and crude rallied yesterday as investors cheered a further easing of lockdowns in some countries, which offset fears of a renewed trade war between China and the United States.

Sri Lanka Tourism is in the process of gathering details of all the international tourists, businessmen and expatriates engaged in the tourism industry of Sri Lanka, following the outbreak of COVID-19 pandemic in the country.

As the global economy enters a deep economic recession, with the possibility of a financial crisis, the United Nations (UN) asserted the governments across the world must adopt a three-step approach for the socio-economic response to the coronavirus

Sri Lanka stands to lose German development cooperation as Germany moves ahead with plans to realign its resources to a limited number of countries with good record in implementing reforms and where the commitment made a difference, several German on

CT Land Development PLC, the owners of Majestic City, announced a rental-free policy for its tenants during the curfew period, with further plans to formulate a rental-free/reduced rental scheme for an additional period, until the shopping complex ge

Stock markets suffered steep losses yesterday, tracking a selloff in New York after Donald Trump sparked fears of a renewed trade war with China over its role in the coronavirus pandemic.

Sri Lanka is among the worst-affected emerging economies by the COVID-19 pandemic, according to a ranking published by the international journal Economist, recently.

In an effort to provide some relief to the stakeholders of the Colombo bourse, the Securities and Exchange Commission (SEC) said it would provide a series of measures that would assist the players in complying with certain mandatory regulatory requir

Sri Lankan private sector companies are saying that they are adapting fast to the social distancing required in the post-COVID-19 era, as some of them are now in the process of providing their staff with the necessary infrastructure to allow them wor

Sri Lanka’s tea production in March has plunged by over 50 percent compared to the corresponding month in 2019, the lowest recorded since February 2009.

South Asia Gateway Terminal (SAGT), one of three terminal operators in the port of Colombo, recently introduced a paperless electronic clearance process for import containers.

Back-to-back business interruptions, rising debt, delay in raising cash caused by macro-political challenges and stretched liquidity conditions in light of current pandemic are weighing on Softlogic Holdings PLC (SHL) as ICRA Lanka revised the firm

As nations across the world are looking for avenues that would help their economies recover from the massive hit brought about by the COVID-19 pandemic, the United Nations (UN) stressed that governments should put much emphasis on protecting jobs and

The Central Bank has extended the deadline set to apply for loan moratoriums till May 15 as many business owners and individuals could not submit their requests to banks and other financial institutions on or before April 30 due to curfew.

New car sales in France plunged 88.8 percent in April as the country’s coronavirus lockdown brought auto sales to a screeching halt, industry figures showed yesterday.

The recent increase of import taxes on palm oil, the essential fat required by confectioners and bakers in Sri-Lanka, is set to cause significant stress and impose additional burdens to both the manufactures and the consumers of these products.

Japanese and Australian stocks tumbled yesterday at the end of a healthy week across world markets, with traders tracking a sell-off on Wall Street as another huge jump in jobless claims underlined the impact of coronavirus on the global economy.

China has claimed that the country is rolling out its digital currency in four cities starting next week.

Inflation for the month of April was recorded at 5.2 percent, as the prices measured for the 12 months to April was slightly lower than the 5.4 percent recorded in March as higher base prevailed a year ago took effect resulting in somewhat muted pric

The capital market regulator, the Securities and Exchange Commission (SEC) announced this week the introduction of a ‘three-tiered circuit breaker’ structure, which is to be attached to the S&P SL20 Index when the market reopens after six weeks.

Sri Lanka’s ecommerce space is set to boom in the coming years, a consumer sector analyst said, as the prolonged curfew that is in place to control the on-going pandemic has led consumers to explore the online experience more aggressively, which ot

Sri Lanka’s largest listed firm, John Keells Holdings PLC (JKH) expects the COVID-19 pandemic to overshadow its first and second quarter performances of FY21, but assured that the diversified conglomerate has sufficient cash reserves and banking fa