Citigroup (C.N) has agreed to sell its consumer business in four Southeast Asian markets to United Overseas Bank (UOB) for about S$5 billion (US $3.7 billion), bringing the U.S. bank closer to its goal of exiting retail operations in 13 markets.

Bank of Ceylon (BOC) recently launched the ‘BOC Fuel card’ partnering with ‘MasterCard international’ to Sri Lankan business community and the general public.

Lanka Credit and Business Finance Ltd opened its 10th branch in Tangalle in keeping with its ambition to be committed to the development of the rural economy.

HSBC Sri Lanka has appointed James Rebert as the Head of Wealth & Personal Banking with immediate effect.

Assetline Leasing Company Limited (Assetline) recently launched its newest product, Asset Draft, to cater to the working capital needs of the business community.

In celebration of 60 years, Sri Lanka Insurance introduces the ‘Medi 60’ exclusive medical insurance for senior citizens to cover an array of health insurance needs.

NDB Wealth heralds the new year 2022, with much anticipation hoping that success will be at the forefront for all their loyal customers.

The Colombo Stock Exchange (CSE) is planning to revise the calculation methodology of All Share Price Index (ASPI) by changing the constituent weighting method from full Market Capitalization to free float-adjusted Market Capitalization.

Despite having faced down another tumultuous year, the Sri Lankan apparel industry has shown remarkable resilience in 2021,

The Sri Lanka Chamber of Pharmaceutical Industry (SLCPI) yesterday said importing of medicines to Sri Lanka is now done on the availability of foreign currency and not on the needs of the country or its patients.

India has confirmed its support to Sri Lanka by way of a currency swap under the SAARC arrangement and a deferment of a previous loan.

Nestle Lanka PLC, the local unit of the Swiss food giant, is to borrow US$ 45 million from Nestle Treasury Centre-Middle East and Africa Ltd. (Nestle MEA) to cater to its foreign exchange requirements for this year.

While the worst of the pandemic on the South Asian economies including Sri Lanka may be their behind, the region is still vulnerable to rising consumer prices, financing conditions and the evolving Omicron variant of the coronavirus pandemic, accordi

The used car market in the United States is seeing an unprecedented phenomenon: owners selling vehicles for as much or more than they paid for them.

Sri Lanka Telecom PLC yesterday announced the appointment of Janaka Abeysinghe as the Chief Executive Officer (CEO) with effect from February 1, 2022.

The government should tell the nation as to how it is going to service the massive debt liabilities falling due for this year, as all the three global rating agencies have downgraded Sri Lanka’s sovereign rating deeper into junk territory—latest

The government can continue to remain stubborn on not going to the International Monetary Fund (IMF) for a bailout, only if the underutilised State-owned asset sale process is expedited significantly in the near future, a leading Colombo-based invest

Sovereign debt restructuring can be pre-emptive or post-default. A default is inherently costly, as it can result in a sustained loss of access to capital markets. That leaves pre-emptive restructuring when a country deems itself unable to service ou

Two farming communities in Veheragala in the Rambawa Divisional Secretariat and Dachchidamana in Medawachchiya were the beneficiaries of the most recent leg of Tokyo Cement Group’s Fountain of Life purified drinking water project.

Evergreen Shipping Agency Lanka (Pvt.) Ltd, a joint venture between Hemas Transportation (Pvt.) Ltd and Evergreen Marine (Hong Kong) Limited, partnered with the Marine Environment Protection Authority (MEPA) to address marine pollution in Sri Lanka.

Nestlé Nestomalt is conducting the ‘Buddhi Prabhodaya’ webinar series for the second consecutive year, to support the students sitting for their GCE A/Ls in February 2022.

HTS Group bagged a much-coveted CSR Project of the Year award at Business Excellence Awards 2021, organised by Business World International Organisation and Best Social Services Company Award, at South Asian Business Excellence Awards 2021, organised

Assetline Leasing Company Limited (ALCL) recently introduced several projects as part of its efforts to further develop its operations in the Northern province.

Brandix Apparel Limited continued its annual ‘Ran Daru Thilina’ programme for the sixth consecutive year, providing 8,354 children of Brandix Associates with schoolbags and stationery items for the new school year.

In contrast to repeated claims made by the authorities, worker remittances income plummeted as much as 60 percent from the same month last year extending the declining streak for the eighth consecutive month.

India has confirmed its support to Sri Lanka by way of a currency swap under the SAARC arrangement and a deferment of a previous loan.

Leading integrated logistics company, Maersk has warned its customers that 2022 will be yet another challenging year as there will be more issues in the global supply chains going forward.

S&P Global Ratings (S&P) downgraded Sri Lanka’s sovereign credit rating yesterday, citing heightened conditions for a foreign debt default in the next 12 months, becoming the third rating agency to strike against Sri Lanka’s waning external finan