The higher loan loss provisions hit Nations Trust Bank PLC’s (NTB) profits although the bank managed to record a decent growth in new loans amid some solid growth in new deposits. 

The Central Bank may have maintained its current monetary policy stance last week but the Monetary Board is likely to tread on a rocky road for the next few months as it will face the dual challenge of avoiding any more outflows from the government s

(Colombo) REUTERS: Sri Lankan shares closed flat yesterday after gaining for two straight sessions on mild profit-booking as investors awaited fresh triggers amid thin trading, brokers said.

Lanka Indian Oil Company PLC (LIOC) returned to profit during the quarter ended on June 30, 2018 (1Q19), as the company managed to contain the costs as the top line edged down, perhaps due to the shift in sales to the state-owned distributor for a sh

(Colombo) REUTERS: The Sri Lankan rupee ended slightly firmer yesterday as inward remittances surpassed early demand for the US dollar from foreign banks, traders said.

The Central Bank has lowered its year-end forex reserve target to US $9 billion from the earlier revised target of US $ 9.5 billion, Central Bank Governor Indrajit Coomaraswamy said 

Core logistics sector amplified by the stronger airfreight volumes gave the momentum to Expolanka Holdings PLC during the June quarter (1Q19), as the diversified logistics group reported improved top and bottom line performances.  

(Shanghai) REUTERS: The Export-Import Bank of China (Exim Bank) said its outstanding loans to Belt and Road Initiative projects rose 37 percent in the first half of this year from the same period in 2017, the official Xinhua news agency said on Satur

Asia Securities Chairman and Colombo Stock Exchange board member Dumith Fernando has been appointed an Independent Non-Executive Director of Union Assurance PLC (UAL) with effect from August 3, 2018.

A massive jump in provisions made against possible bad loans took away an otherwise an exceptional quarter at Sampath Bank PLC, marked by improved margins, healthy growth in new loans and balanced funding mix.

Venture Green Global Pvt Ltd, a company focused on exporting Sri Lanka’s primary goods is eager to expand Sri Lanka’s raw products into new markets around the world.

COLOMBO (REUTERS): The Sri Lankan rupee ended steady yesterday as dollar demand from foreign banks offset selling of the greenback by domestic lenders on account of inward remittances, traders said. 

SHANGHAI (AFP): China’s stock market has been overtaken as the world’s second-biggest by Japan’s, having been swiped this year by the threat of a trade war with the United States and slowing economic growth.

HONG KONG (AFP): Asian equities were mixed yesterday after another painful week as fears of an all-out trade war between Beijing and Washington keept investors on edge, while China’s stock market wa

Known to be Sri Lanka’s largest food, packaging and agriculture expo, the three-day Profood Propack and Agbiz 2018 trade exhibition opened for the 17th consecutive year yesterday at the 

The Ceylon Motor Traders Association (CMTA), which represents all major international motor manufacturers in Sri Lanka yesterday acknowledged the need to stem excessive vehicle imports to the country to have a sound economic footing in the long run.

SINGAPORE (AFP): Southeast Asia and Europe stressed the importance of pushing back against protectionism and the threat of global trade wars yesterday, as their ministers work towards the eventual goal of a region-to-region free trade pact.

COLOMBO (REUTERS) : Sri Lankan shares rose for the second straight session yesterday as foreign investors picked up shares that had been battered in recent days, brokers said. 

The demand for new loans has shown clear signs of moderation in June as economic activities have slowed down amid the banks maintaining an extremely cautious approach to granting fresh facilities as they battle the deteriorating asset quality after a

People’s Leasing & Finance PLC reported a 25 percent increase in profits during the three months ended on June 30, 2018, as the country’s second biggest non-bank lender improved its loan margins 

Finance and Mass Media Minister Mangala Samaraweera yesterday said the vehicles below the engine capacity of 1000 cubic centimetres (cc) still remain more affordable compared to 2014, despite the recent duty hike.  

Anti-corruption activist and public interest litigant Nihal Sri Ameresekere has instituted action in the District Court of Colombo against the sale of the Hilton Colombo hotel. In this regard, Ameresekere has instituted action against

Sri Lanka’s Central Bank is expected to keep key interest rates steady at its policy review on Friday as it looks to spur faltering economic growth amid heavy downward pressure on the nation’s currency, a Reuters poll showed. 

Ceylon Petroleum Storage Terminals Limited (CPSTL) yesterday said it is ready to face any trade union actions by the Ceylon Petroleum Bowser Owners’ Association (CPPBOA) to ensure an uninterrupted fuel supply to the nation by engaging directly

Sri Lanka’s inflation measured by the Colombo Consumer Price Index (CCPI) accelerated to a six-month high of 5.4 percent during the 12 months to July, up sharply from 4.4 percent in June, largely due to the base effects and higher food prices.&

(Colombo) REUTERS: The Sri Lankan rupee ended marginally firmer in dull trade yesterday as selling off dollars by banks surpassed mild demand for greenbacks from importers, traders said.

Ceylon Tobacco Company PLC (CTC) yesterday announced that Susantha Ratnayake, who served as Chairman of the board of directors of the company, retired from the position with effect from July 31, 2018, having completed a term of five years as Chairman

Malaysia has expressed its strong interest in moving forward on the free trade agreement (FTA) with Sri Lanka that was initially contemplated in 2013, a communiqué from Sri Lanka’s Industry and Commerce Ministry said yesterday. 

John Keells Hotels PLC, the resort sector arm of the John Keells group, produced yet another disappointing quarterly performance as three of its resorts – two in the Maldives and one in Sri Lanka – were closed for refurbishment. 

Some solid growth in new loans and better margins lifted the profits of National Development Bank PLC (NDB) but the hefty provisioning against the possible bad loans and the resulting asset quality weakening stood out by  June 30, 2018.