The non-performing loan (NPL) ratio of the licensed finance company sector has edged up to 9.8 percent in October while the ratio for the licensed commercial banks stood steady at 4.9 percent amid the pick up in private credit.

President Gotabaya Rajapaksa has paid his attention to setting up a central database for citizens’ data, his office said in a media communiqué.

The financial sector regulator, the Central Bank (CB), will initiate ‘appropriate measures’ against seven banks, which have failed to comply with the regulator’s order to bring down the Average Weighted Prime Lending Rate (AWPR) by 250 basis po

SriLankan Airlines, the national carrier and a member of the oneworld alliance, reaffirming the success of its marketing communication endeavours, concludes 2019 with seven global awards.

According to Microsoft CEO Satya Nadella, our industry does not respect tradition - it only respects innovation.

The Fortune Business Insight estimated that the global blockchain technology market size is expected to reach US$ 21,070 million by the end of 2025, with a compound annual growth rate of 38.4 percent, showing a promising start for the upcoming techno

From ancient times, humans have used the force of water flowing in streams and rivers to produce motivepower. However, such use is not very evident in the history of Sri Lanka.

The Central Bank (CB) has forecast 4 to 4.5 percent economic growth and below 4 percent inflation for next year, backed by the new government’s economic revival programme while meeting estimated US$ 4.8 billion external debt servicing for the year.

South Korea’s KB Kookmin Bank has said its board has agreed to acquire 70 percent stake in Cambodia’s Prasac Microfinance Institution for US$ 603.4 million from Sri Lanka’s LOLC Holdings, subject to regulatory approval.

Sriyan De Silva Wijeyeratne has resigned from the post of Chief Executive Officer of Abans PLC with effect from December 16, 2019.

Sri Lanka’s new government headed by President Gotabaya Rajapaksa may re-introduce the banking and financial sector consolidation if the need arises, a top government official said.

The government is set to receive US$ 43 million by leasing a plot of land located between Beira Lake and Shangri-La hotel on the Baladaksha Mawatha.

The government is considering extending the 12-month capital moratorium on non-performing loans (NPLs) of small and medium-scale (SME) businesses to interest payments, acknowledging the difficulties in meeting interest payments by some default SME de

Several large and small banks are likely to face penalties as they are yet to fully comply with Central Bank’s (CB) lending rate caps.

Following is the full text of the speech made by new Central Bank Governor Deshamanya Prof. W.D. Lakshman at the Monetary Policy Review press conference held last Friday. He is the 15th Governor of the Central Bank.

Louis Vincent Gerstner Jr., (born March 1, 1942) is an American businessman, best known for his tenure as Chairman of the board and Chief Executive Officer (CEO) of IBM, from April 1993 until 2002. He is largely credited with turning IBM’s fortunes

The Tourist Information Centre (TIC) at The Bandaranaike International Airport (BIA) of Sri Lanka Tourism had a different atmosphere altogether, getting into the festive mood and bracing up to share the festive cheer w

HONG KONG (AFP) - Asian markets were mixed yesterday following another strong lead from Wall Street where tech stocks won big with strong Christmas results. The tech-heavy Nasdaq finished above 9,000 for the first time on Thursday, hitting its 10th

SriLankan Airlines supported an international sports event – the Addu Marathon – on Gan Island where it recently celebrated three years of operations.

KUWAIT CITY (AFP) - Saudi Arabia and Kuwait signed an agreement this week to resume pumping at two major oilfields in a shared neutral zone shut for five years due to a bilateral disagreement,

SEOUL (AFP) - A South Korean construction firm yesterday signed a deal to acquire Asiana, the country’s second-largest airline, which has long been plagued by financial problems.

PARIS (AFP) - European Commission chief Ursula von der Leyen has expressed “serious concern” over whether the bloc could conclude a post-Brexit trade deal with Britain within the 2020 deadline.

Indices at the Colombo Stock Exchange (CSE) gained yesterday amid investors expecting further relaxing of the monetary policy by the Central Bank.

The Merchant Bank of Sri Lanka and Finance PLC (MBSL), a subsidiary of Bank of Ceylon would require around Rs.1.4 to Rs.2.7 billion fresh equity over the next three years to meet the regulatory capital requirements set by the Central Bank, according

The investment opportunities in Sri Lanka’s property development sector generated significant interest at the 2019 Luxury Properties Showcase (LPS) exhibition in Shanghai, China, according to Altair, one of the leading participants from South Asia

SANASA Development Bank PLC (SDB Bank) has secured a US$ 8 million loan from Belgian Investment Company for Development Countries NV/SA (BIO) to augment its capital buffers under Basel III guidelines and support its lending activities for small and m

The Annual General Meeting (AGM) of the Sri Lanka Economic Association (SLEA) was held on December 18th at the Organization of Professional Association of Sri Lanka (OPA) auditorium.

Top professional Sujeewa Rajapakse, who counts over 30 years of experience in audit and consultancy services, has been appointed as the People’s Bank Chairman.

Colombo University Sociology Department Senior Lecturer Jagath Wellawatte has been appointed as Chairman of Sri Lanka Insurance Corporation Limited (SLIC).

Well-known sales and marketing professional and entrepreneur Anil Koswatte has been appointed as Litro Gas Lanka Limited Chairman.