In the run up to elections, Sri Lanka is once again witnessing various news activities highlighting how the government is losing revenue due to increased consumption of illicit cigarettes and beedi. However, the wider government policy on tobacco con

Sri Lankan cricketing legends Mahela Jayawardena and Kumar Sangakkara have come on board as Sri Lanka’s brand ambassadors for Expo 2020 Dubai to be held from October 20, 2020 to April 10, 2021, in the UAE. Both Mahela and Kumar,

Proparco, a subsidiary of the Agence Française de Développement (AFD) Group, dedicated to private sector financing, recently signed an agreement with Sri Lanka’s Commercial Bank of Ceylon PLC to support the island nation’s small and medium-size

ICRA Lanka has cut Nawaloka Hospitals PLC’s credit rating to BBB from BBB + citing the company’s deteriorating liquidity position and the increase in the gearing level amid weak financial performance in the most recent financial year. The rating

The 40th National Conference of Chartered Accountants organised by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) will be inaugurated today at Waters Edge, Battaramulla under the patronage of the Institute of Chartered Accountants

In its latest edition of the South Asia Economic Focus, the World Bank expects Sri Lanka’s economic growth to decelerate to 2.7 percent by the end this year from earlier forecast of 3.5 percent in June amid security challenges and political un

Sri Lanka is likely to launch its maiden US$ 500 million (60 billion yen) 10 -year Samurai bond next month prior to the presidential election. The Cabinet of Ministers last week approved the appointment of Mizuho Securities Company Ltd., SMBC Nikko S

Five forensic audit reports on alleged bond scams and Rs.2.2 trillion Employees’ Provident Fund (EPF) transactions will be completed by mid next month, the Central Bank (CB) said. “The forensic audit reports cover both bond issuances and EPF tra

BEIJING (AFP) - China’s securities regulator has set a timetable to remove foreign ownership limits in finance companies next year, as Beijing seeks to attract overseas investment to boost a slowing economy.

WASHINGTON (AFP) - US aviation regulators were slammed yesterday for allowing design changes to Boeing’s 737 MAX aircraft that have been implicated in two crashes causing the deaths of more than 300 people.

REUTERS: Sri Lankan stocks rose for the sixth straight session yesterday to hit their five-week high led by banking and beverage shares, but foreign investors exited from risky assets with the start of presidential poll campaigning. The rupee currenc

The incorporation of a new company in Sri Lanka is now possible from the comfort of one’s own home. “Name reservation of companies could be obtained online. Company registrations and incorporations could be done online and there is no need for p

Abans Group recently announced the appointment of Dinesh Weerakkody as a Non-Executive Director to Abans Retail Holdings.

LONDON (AFP) - Oil surged yesterday after an Iranian tanker was hit by suspected missile strikes off the coast of Saudi Arabia, sparking fresh conflict fears one month after attacks on Saudi oil facilities that were blamed by Washington on Tehran.

More than two-third of total employment in under-developed and developing countries is provided by small economic units, the International Labour Organization’s latest report has found.

The Monetary Board of the Central Bank (CB) yesterday decided to maintain policy interest rates at their current levels, awaiting for materialisation of various measures aimed at accelerating subpar economic growth in the country, while being cautiou

With nearly one-third of Sri Lanka’s adult banking population considered to be inactive account holders and many facing significant constraints in accessing finance, the World Bank (WB) urges the country’s banks to position themselves as developm

The Central Bank (CB) wants Sri Lanka’s banking sector to start preparing for the anticipated transformation of the current banking industry landscape as the new Banking Act is set to come into effect in 2021 with the regulator gaining more ‘teet

ATHENS (AFP) - The European Commission yesterday approved a Greek scheme to reduce bad loans weighing down the country’s banks, limiting new credit and holding back economic recovery.

The Central Bank (CB) is to introduce new regulations to restrict cross holdings among banks to enhance corporate governance in the banking sector. “We are looking

COLOMBO (Reuters) - Sri Lankan stocks rose for the fifth straight session yesterday to hit their near four-week high led by beverage shares, but foreign investors exited from the risky assets with the start of presiden

John Keells Hotels provided a corporate guarantee for Rs.2.45 billion to People’s Bank on Wednesday, in respect of a long-term loan facility obtained by its subsidiary, Ceylon Holiday Resorts Ltd, for redevelopment of Cinnamon Bentota Beach. “Th

HONG KONG (AFP) - Apple yesterday removed a Hong Kong map application used by pro-democracy protesters, saying it endangered police, after China warned the US tech giant to drop the app. According to a statement p

HONG KONG (AFP) - Asian markets were mixed yesterday with investors moving cautiously as they sifted through conflicting reports about the outlook for upcoming China-US trade talks.

With nearly one-third of Sri Lanka’s adult banked population considered to be inactive account holders and many facing significant constraints in accessing finance, the World Bank (WB) urges the country’s banks to position themselves as developme

The European Union (EU) is providing EUR 40 million to Sri Lanka to co-finance the Strengthening Transformation, Reconciliation and Inclusive Democratic Engagement (STRIDE) project.

Sri Lanka becomes the most improved economy in the South Asian region in Global Competitiveness Index 2019, by gaining 1.1 index points and improving its ranking to 84th, out of 141 countries, due to the improvements in socio-economic elements.

(Colombo) REUTERS: Sri Lanka’s Central Bank will likely leave its key interest rates on hold at a policy review tomorrow, after a 50-basis-point cut in August, a Reuters poll showed, ahead of presidential elections and as lower bank rates go into e

Sri Lanka’s unemployment rate has inched up to 4.9 percent during the second quarter of 2019, up from 4.7 percent in the quarter ended in March 2019, although the total number of employed persons has increased.

John Keells Hotels provided a corporate guarantee for Rs.2.45 billion to People’s Bank yesterday, in respect of a long-term loan facility obtained by its subsidiary, Ceylon Holiday Resorts Ltd, for redevelopment of Cinnamon Bentota Beach.