Union Bank of Colombo PLC suffered a setback in both its top and bottom lines as the bank failed to capitalise on the rising market interest rates although the loans grew at a healthy rate. 

Nations Trust Bank PLC (NTB) reported a marked increase in profits in 2017 as the bank grew its loan book while preserving its margins despite some increase in specific provisions. 

The Sri Lankan government and Sri Lanka Gas Terminal Ltd will hold a 15 percent shareholding in the country’s first liquefied natural gas (LNG) import terminal, a cabinet spokesperson said.

REUTERS: Sri Lankan shares slipped for a third straight session yesterday and posted their lowest close in two weeks, weighed down by foreign selling amid concerns about political stability, stock brokers said.

REUTERS: The Sri Lankan rupee ended weaker yesterday as dollar demand by importers and banks outpaced selling of the greenback by exporters, dealers said.

For Sri Lanka to achieve the 2025 goal of being an upper-middle income country, the government has formulated a 3-year Economic Delivery Programme to increase per capita income to US $ 5000, create one million new jobs, and increase FDI to US $5 bill

Sri Lanka’s State-owned Enterprises (SoEs) borrowed a net Rs.19 billion during 2017 from the banking system as the total outstanding credit to the public corporations rose to Rs.514 billion by the end of 

With cruise tourism and yacht marinas being the fastest growing categories in the leisure travel market, as an island nation, these are the areas Sri Lanka should fix its focus on, Admiral Dr. 

 Allianz yesterday announced the completion of its acquisition of Janashakthi General Insurance Limited, after receiving all the necessary regulatory approvals. 

REUTERS: The Sri Lankan rupee ended firmer yesterday as exporters and banks sold dollars on fears of an appreciation in the local currency amid expectations of equity and capital inflows, dealers said.

REUTERS: Sri Lankan shares slipped yesterday to a more than one-week closing low, as selling by foreign investors and some concerns about political stability weighed on sentiment, dealers said. Shares hit a more than three-week high last week after t

Fitch Ratings yesterday affirmed Richard Pieris & Company PLC’s (RICH) national long-term rating at ‘A(lka)’ with a stable outlook. Fitch has also affirmed the national rating on RICH’s outstanding senior unsecured debentu

Vallibel Finance PLC yesterday revealed its plans to raise little over Rs.1 billion through a cash call to its shareholders.

SriLankan Airlines yesterday said it was experiencing continuous delays in flights and congestion at the country’s main Bandaranaike International Airport (BIA) in Katunayake, due to a combination of factors.

Commercial Bank of Ceylon PLC (ComBank) witnessed a stronger than average growth in new loans during 2017, which helped the bank to report higher earnings but substantially higher taxes and loan loss provisions had a somewhat bearing on the performan

The Sinhala Buddhist community has a cultural need to depend on a larger than li fe figure to continuously save them and cleanse the country, which is why the people voted for the Mahinda Rajapaksa faction instead of the coalition partners of the cur

Agalawatte Plantations PLC will raise fresh equity capital by way of a rights issue to partly settle its related party borrowings raised last year as part of its restructuring. 

Diesel & Motor Engineering PLC (DIMO) last week said it acquired the control of two firms, which are in the business of importing, processing and distribution of agri inputs such as fertilizers and seeds.

AFP: Over 20,000 French farms could go bankrupt if the European Union concludes a major trade deal with four South American countries, France’s biggest farm union 

AFP: German auto giant BMW said yesterday it plans to build an electric version of its compact Mini in China, in a possible joint venture with local partner Great Wall.

AFP: Turkmenistan, Afghanistan, Pakistan and India yesterday ceremonially broke ground on the Afghan section of an ambitious, multi-billion dollar gas pipeline expected to help ease energy deficits in South Asia.

AFP: Australia’s largest bank the Commonwealth yesterday denied a slew of new claims by the country’s financial intelligence agency that it breached anti-money laundering laws, and rejected a major class action over the allegations.

REUTERS: The Chinese government yesterday seized control of Anbang Insurance Group Co Ltd and said its chairman had been prosecuted, a dramatic move that highlights Beijing’s willingness to curtail big-spending conglomerates as it cracks down o

AFP: Japan yesterday welcomed a World Trade Organization ruling that called for South Korea to lift an import ban on Japanese seafood, imposed after the Fukushima 

REUTERS: The Sri Lankan rupee ended slightly firmer yesterday in dull trade as banks’ dollar selling on remittance inflows surpassed the importer greenback demand, dealers said. 

Nestlé Lanka PLC put up a strong performance for its December quarter (4Q17), but saw its full year performance dented by sluggish market conditions and natural disasters.

Despite speculation in local spheres being high over the government’s future economic decisions in the aftermath of the shocking Local Government polls drubbing, the International Monetary Fund (IMF) this week said that it is continuing to work

REUTERS: The Sri Lankan rupee ended slightly weaker yesterday in dull trade as importer dollar demand outweighed selling of the greenback by exporters. The rupee ended at 155.25/30 per dollar, compared with Wednesday’s close of 155.10/25. The r

REUTERS:  Sri Lankan shares yesterday snapped a five-session winning streak and eased from a more than three-month high on profit-booking, while foreign buying in Commercial Bank Plc boosted the daily traded turnover.

The Sri Lankan government ignores local economic policy expertise in favour of foreigners who make the same arguments, a leading economist said recently.