The Central Bank yesterday said it is taking steps to pay compensation to the depositors of The Standard Credit and Finance Ltd under the Deposit Insurance and Liquidity Support Scheme.  

Sri Lanka’s politicians thrive on their largely finically illiterate electorates as the majority of voters are incapable of understanding the economic realities and the consequences of financial mismanagement of governments, according to an e

Sri Lanka’s corporate earnings sank during the second quarter as business and consumer sentiments turned sore on higher taxes and interest rates, amid inflation hitting almost all sections of society, undermining the economic growth, according

(Colombo) REUTERS: The Sri Lankan rupee closed weaker yesterday, hit by concerns over a lingering political crisis, as banks bought dollars to facilitate foreign capital outflows from rupee-denominated assets.  

The big three credit rating agencies had downgraded Sri Lanka’s rating as of yesterday owing to the current political crisis that triggered on October 26 with the sacking of the then Prime Minister Ranil Wickremesinghe by President Maithripala

(Colombo) REUTERS: The Sri Lankan rupee closed weaker yesterday with banks buying dollars as investors continued to sell rupee-denominated assets on credit rating downgrades by rating agencies and a delayed IMF loan discussion in the wake of a politi

The American Chamber of Commerce (AMCHAM) yesterday said the current political impasses in the country sends worrying signals to the business community locally as well 

The merger of local operations of Etisalat and Hutch announced in April this year has been completed. A brief statement from CK Hutchison Holdings Limited said Emirates Telecommunications Group Company has completed the sale of 100 percent shareholdi

Sri Lanka will launch the much-awaited Rs.4.5 billion global tea promotion in Russia next February, followed by Japan, China and Ukraine, the Sri Lanka Tea Board (SLTB) said.  

The new credit granted by Sri Lanka’s banks marked a record growth for the year during the month of October, accelerating from the previous high in September, as the borrowings appear to be continuing defying the rising market interest rates.&n

(London) REUTERS: Unilever is to buy GlaxoSmithKline’s Horlicks nutrition business for US $ 3.8 billion, boosting the Anglo-Dutch group’s position in India with the addition of the malted drink.  

(Colombo) REUTERS: The Sri Lankan rupee closed firmer yesterday as banks sold dollars due to month-end inward remittances, but the rupee is still under pressure as investors continue to sell rupee-denominated assets on a credit rating downgrade and a

The Right to Information (RTI) Commission issued an order on November 27, 2018 directing the Central Bank of Sri Lanka (CBSL) to release data on Employee Provident Fund (EPF) secondary market transactions relating to 2015 and 2016.

The director board of Seylan Bank PLC has decided to raise Rs.5 billion through Basel III compliant debentures, the bank said in a stock exchange filing on Friday. Accordingly, Seylan plans to issue 50 million rated, unsecured, subordinated redeemabl

Sampath Bank PLC said it is raising up to Rs.7 billion in Basel III compliant debentures, following a director board decision on the same on November 29. The debenture issue will have three tranches. The initial issue will see the bank issuing 50 mil

(Colombo) AFP: Sri Lanka on Saturday slashed a tax on sugary drinks in a controversial reversal of an anti-diabetes policy that attracted immediate criticism. The finance ministry ordered an immediate 40 percent reduction in the levy as part of a pac

The National Economic Council (NEC) asserted that a medium to long-term economic policy and programme enhancing economic growth is the best and only viable remedy to address the fundame

Consumer prices in Colombo rose 3.3 percent during the month of November on year-on-year basis, accelerating from 3.1 percent recorded for October, the data released by the Census and Statistics Department showed. 

Braybrooke Residential Towers (Pvt) Ltd, signed an agreement with the Board of Investment (BOI) for TRI-ZEN, a pioneering residential development.  The project is a joint venture between JK Land (Pvt) Ltd., a subsidiary of John Keells Holdings P

BOI signed an agreement with Braybrooke Residential Towers (Pvt) Ltd to set up an apartment complex in Colombo 2.  The total investment of this proj

(Tokyo) AFP: A Tokyo court yesterday extended the detention of former Nissan chief Carlos Ghosn, local media said, after his arrest on allegations of financial misconduct that have shake

(Washington) AFP: Marriott International said yesterday that up to 500 million hotel guests may have had their data compromised in a hack of the Starwood reservation database.

(Colombo) REUTERS: The Sri Lankan rupee closed firmer yesterday as banks sold dollars due to month-end inward remittances, but the currency is still under pressure as investors continue to dump rupee-denominated assets on a credit rating downgrade an

(Mumbai) AFP: India’s economic growth slowed to 7.1 percent in the second quarter, official data showed yesterday, as its banks endure a liquidity crunch that is hampering investment in Asia’s third-largest economy.

(Colombo) REUTERS: Sri Lanka’s parliament yesterday voted to halt payment of ministers’ salaries and travel expenses, but it remained unclear how the move would impact the disputed government of Prime Minister Mahinda Rajapaksa whose mini

HONG KONG (AFP) - Asian markets mostly rose yesterday bringing a broadly upbeat week to a positive end as attention turns to the much-anticipated meeting between Donald Trump and Xi Jinping.

(Colombo) AFP: Sri Lanka’s parliament voted yesterday to block any spending by the Prime Minister’s office, further paralysing a government adrift from weeks of conflict as two rivals claim to run the country. The island has been in crisi

(Colombo) REUTERS: The Sri Lankan rupee closed marginally weaker yesterday as investors dumped rupee-denominated assets on a credit rating downgrade and a delay in an IMF loan discussion in the wake of a political crisis. 

(Colombo) REUTERS: Sri Lanka signed two multi-million dollar contracts with Chinese firms for a port upgrade project yesterday in the middle of a political hiatus that has raised doubts over the legitimacy of the government and the legality of the d

The Free Trade Zone Manufacturers’ Association (FTZMA), one of the largest manufacturing associations in Sri Lanka’s largest free trade zone in Katunayake yesterday said the current political crisis is having implications on the future or