Strong growth in new loans, higher margins and operational efficiencies helped Hatton National Bank PLC (HNB) to offset higher loan-loss provisions and trading losses in March, as the banking group reported robust growth in bottom line for  the

REUTERS: The Sri Lankan rupee hit a record low of 158 per dollar yesterday in thin trade after the Central Bank chief said the currency will depreciate gradually while exporters stayed away from the market expecting further weakness.

DealStreetAsia: Expanding its exposure in the region’s microfinance and financial services space, the International Finance Corporation (IFC), a member of the World Bank Group, has proposed to extend up to US $ 20 million local currency equival

REUTERS: Sri Lankan shares ended at a near five-week low yesterday, led by industrial shares such as John Keells Holdings, while foreign outflows and the recent fuel price hike weighed on sentiment, stockbrokers said.

Jetwing Symphony PLC was able to cut its losses for the quarter ended in March 2018 (4Q18) due to higher top line growth as three of its hotels in the portfolio making considerable revenue gains, which outpaced the increase in direct costs.  &nb

The synchronized improvement in all core business units helped Dialog Axiata PLC to record a healthy bottom line while the group is seen aggressively expanding into financial technology (fintech) space to further diversify its revenue 

REUTERS: Chinese, Middle East and Russian companies are in ‘preliminary discussions’ to build an up to US $2.7 billion, 100,000 barrel-per-day (bpd) refinery for Sri Lanka’s State-owned Ceylon Petroleum Corporation (CPC), the head o

The Central Bank expects a slowdown in motor vehicle imports to the country with the recent hike in fuel prices and depreciation of the rupee.

In response to concerns raised by some professional associations last week concerning the Sri Lanka-Singapore Free Trade Agreement (SLSFTA), the Development Strategies and International Trade Ministry in a detailed response said the movement of natur

The reinstatement of US sanctions against Iran announced on May 8 and the resulting potential sustained loss of Iranian exports increase the chances of the global oil supply-demand balance remaining in deficit in 2018-2019, Fitch Ratings says. 

REUTERS: Sri Lankan shares closed little changed yesterday as most investors stayed on the sidelines to see the real impact of a hike in fuel prices, brokers said. State-run fuel retailer Ceylon Petroleum Corp (CPC) raised retail prices for gasoline

REUTERS: Malaysia’s newly-elected Prime Minister Mahathir Mohamad plans to appoint a finance ministry adviser who will oversee efforts to recover billions of dollars allegedly stolen from state fund 1

REUTERS: World shares rose yesterday as investor appetite for risky assets got a boost from soft U.S. inflation numbers, helping soothe worries that the Federal Reserve might step up the pace of its rate hikes.

The Asian Development Bank (ADB) and the Government of Sri Lanka signed a US$100 million loan agreement as additional financing for the government’s efforts to develop skills to meet labour demands, support economic

The 8th AISEX and FASE apparel industry sourcing expo opened at the BMICH on Thursday. Picture shows Industry and Commerce Minister Rishad Bathiudeen inspecting some items on display. Chairman of Sri Lanka Apparel Institute Prof. Lakdas Fernando is a

A 40-member Japanese delegation is slated to visit Sri Lanka in October this year, in order to look at the possibilities of streamlining the automobile industry that is being currently impacted by the Treasury’s ad-hoc tax policies.

Sri Lanka is to establish three Liquefied Natural Gas (LNG) power plants in the Hambantota area with Chinese, Indian and Japanese government assistance. A proposal to this end presented by Power and Renewable Ener

The European Union (EU) has launched a Rs.810 million project to support the modernisation of Sri Lanka’s agriculture sector.  The project ‘Support to the modernisation of the agriculture sector in Sri Lanka’ will be implemente

The Commercial High Court of Colombo issued summons on former Company Secretary of Adamexpo Ltd., Dilanka Mendis for alleged offence of contempt. High Court Judge Ruwan Fernando issued the summons pursuant to the petition filed by Dr. Ai Asger Shabbi

REUTERS: The Sri Lankan rupee closed marginally weaker yesterday and ended at a record closing low, prompting the Central Bank to sell dollars to support the domestic currency, dealers said.

The top professional bodies representing engineers, architects, town planners and quantity surveyors and other related professions this week charged that the government has rushed into signing the Sri Lanka-Singapore Free Trade Agreement (SLSFTA) wit

National Development Bank PLC (NDB) reported higher profits for the January – March quarter (1Q18) as the bank was seen pricing its loans higher as the loan book growth moderated amid general slowdown in private sector credit.

Finance and Mass Media Minister Mangala Samaraweera responding to a media query yesterday confirmed that top professional Ranel T. Wijesinha will be appointed as the new Securities and Exchange Commission (SEC) Chairman.

The Cabinet of Ministers yesterday approved the proposal presented by Plantation Industries Minister Navin Dissanayake to lift the ban on the glyphosate weedicide for the tea and rubber industries for a period of 36 months.

REUTERS: Sri Lankan shares ended little changed yesterday, at a near four-week low, as losses in shares of beverage companies outweighed gains in bank stocks even as many investors continued to stay on the sidelines looking for fresh cues.

Lanka IOC PLC (LIOC) saw its losses narrowing during the quarter ended March 31, 2018 (4Q18), due to the strong increase in sales while the company committed to keep its costs in check as the oil prices in the global market made notable gains during

Teejay Lanka PLC managed to report a slight increase in the bottom line for the final quarter ended in March 2018, as the weft knitted fabric maker continued its positive march in quarterly earnings it set out in the December quarter.  

REUTERS: Sri Lanka’s Central Bank is expected to keep key interest rates unchanged at its policy review announcement on Friday, after unexpectedly cutting a key rate by 25 basis points in April to help bolster economic growth that has slipped t

Guardian Capital Partners PLC, the specialized private equity investment arm of the Carson group, has incurred an impairment loss of Rs.52.4 million for the financial year ended March 31, 2018 (FY17/18), with two of the start-up companies the firm ha

Luxury African safari operator andBeyond is likely to make some large-scale investments in Sri Lanka in the next two years, giving new impetus to the island nation’s wildlife tourism, Mirror Business learns.