The Bank of England (BoE) yesterday slashed its main interest rate to 0.25 percent in an emergency move to combat the fallout from the coronavirus outbreak on the UK economy.

The local apparel sector, following a series of stakeholder consultations, has assessed that the immediate revenue loss for the industry due to the coronavirus (Covid-19) outbreak in China would be about US $ 510 million, which amounts to approximate

During close to a four-week period, which ended on February 10, the banks in total have received slightly over 11,000 applications or business cases from small and medium-sized enterprises (SMEs) across the county, seeking loan moratoriums.

Pan Asia Bank Chief Executive Officer is doubting the ability of the tourism sector to recommence servicing interest payments even next year, given its slow recovery and is expressing concerns over the ability of the bank to withstand such pressures

Global stocks plunged yesterday and prices for crude oil tumbled as much as 33 percent after Saudi Arabia launched a price war with Russia, sending investors already worried by the coronavirus fleeing for the safety of bonds and the yen.

Despite the 5G hype among the local telco players, the Telecommunication Regulatory Commission of Sri Lanka (TRCSL) recently stressed that increased emphasis is required to overcoming the existing blind spots in improving the overall connectivity acr

Profit transfers from the Central Bank during February propelled the market liquidity in the overnight money market while the banks lent heavily to the government via treasury bills and bonds in the month earlier, as demand for private sector credit

Tourism authorities in coordination with the Health Ministry will prepare a new programme to address the coronavirus outbreak impact on tourism industry. The decision was taken at a meeting between Prime Minister Mahinda Rajapaksa and members of the

For the fifth consecutive year, IFC, a member of the World Bank Group, partnered with the Colombo Stock Exchange (CSE) to ring the opening bell for trading in celebration of International Women’s Day

‘Medicare 2020’, the national healthcare exhibition opened for the 11th consecutive year at the Bandaranaike Memorial International Conference Hall (BMICH), Colombo yesterday under the theme ‘Healthy Sri

HONG KONG (AFP) - Asian equities tumbled yesterday as analysts warned the volatility that has characterised markets during the coronavirus crisis is likely to continue for some time. While governments and central banks have unleashed or prepared to r

NEW DELHI (AFP) - India’s poultry industry is reeling after sales fell nearly 80 percent over false claims that chickens were carriers of the new coronavirus and could pass it to humans, officials said yesterday. Messages warning people to stop ea

BEIRUT (AFP) - Lebanon’s attorney general has suspended an order freezing the assets of 20 banks and their directors over concerns about its impact on the country’s fragile economy, State-run media said. The order was postponed to allow for the

There will be no Mirror Business on Monday (9th) in view of the Poya Holiday. The next issue will be on Tuesday.

(London) REUTERS: The dollar fell further against the euro and yen yesterday as sliding U.S. Treasury yields eliminated more of its interest rate advantage over other currencies. Mounting fears over the eff

The Central Bank (CB) said yesterday that Sri Lanka’s economic growth could slump to 3.5 percent this year from over 4 percent projected earlier as revenue from exports, tourism, remittances and logistics would be hit by the recent escalation of co

The government is in discussions with China Development Bank (CDB) to obtain a loan up to US$ 2 billion with a likely 10-year tenor, which could be finalised within weeks, CB Senior Deputy Governor, Dr. P. Nandalal Weerasinghe revealed.

Central Bank (CB) has set up clear targets for the 20 odd non-banking sector financial institutions facing liquidity issues, to be achieved during next 3-6 months.

The government is to appoint an expert committee for the issuance of broadcasting and telecasting licenses, the Cabinet office said.

The Export Development Board (EDB) yesterday said due to the effects felt by the supply chains of Sri Lanka’s key export sectors from coronavirus (COVID-19), achieving the US$ 18.5 billion export target set for this year is in quandary.

The government plans to bring hotels and tourism related assets held by various State-owned agencies and institutions under one holding company to stop the practice of pumping in taxpayer monies to such assets.

Fitch Ratings has assigned Ceylon Electricity Board’s (CEB: AA+(lka)/Negative) proposed senior unsecured debenture issue of up to Rs.20 billion a National Long-Term Rating of ‘AA+(lka)’.

The Central Bank (CB) is contemplating to initiate action against banks which impose various charges on their customers without public disclosure.

The representatives of Sri Lanka’s apparel sector will meet today to assess the impact of the coronavirus (COVID-19) outbreak on the industry, which is also in fear of going out of work in the immediate term, Mirror Business learns.

Senkadagala Finance PLC yesterday acquired Candor Asset Management, a unit trust and asset management firm, from Eagle Proprietary Investments Limited (EPIL), the Dubai-based financial investment arm of National Industries Group (NIG), according to a

Sixteen Italians in India have tested positive for coronavirus, the Indian health minister said yesterday, as the total number of known cases in the country rose sharply to 28.

As Sri Lanka is gearing up for a parliamentary election, economists are stressing on the need to allocate ministerial portfolios in a more prudent manner so that the public finance management, amongst other areas, does not get hampered.

Multi Finance PLC has long been eying a capital injection running into at least a couple of billions, which will help it to come out from the Colombo Stock Exchange’s (CSE) Watch List and to meet the enhanced regulatory capital requirements.

Colombo Dockyard PLC swung to a loss in the quarter ended December 31, 2019 (4Q19), as the firm’s shipbuilding operations lost money and the ship repairing business lost steam amid the escalation of costs.

The government has decided to increase the low-interest loan amount offered to the borrowers of microfinance loans, who were charged with extremely high interest rates, by Rs.20,000 to Rs.60,000, the Finance, Economy and Policy Development Ministry