The Public Utilities Commission of Sri Lanka (PUCSL) has instructed the Ceylon Electricity Board (CEB) to come up with a fresh Long-Term Power Generation Expansion Plan, complying with the 70 percent renewable energy power generation target set by th

The turnover on the Colombo Stock Exchange (CSE) yesterday topped Rs.10 billion with both indices significantly improving, as retail investors continued to dominate the trading heavily focusing on foreign exchange earning firms, with Expolanka Holdin

The Ceylon Electricity Board (CEB) returned to profit during the three months ended in June (2Q21), as revenues rose, generation costs eased while the finance cost fell, improving the financial prospects of the key power utility in the country for th

The largest allocation of Special Drawing Rights (SDR) in the history of the International Monetary Fund (IMF) to the tune of US $ 650 billion came into effect yesterday.

Creating history in the country’s shipping industry, the Ceylon Association of Shipping Agents (CASA) has elected McLarens Shipping Group Managing Director Shehara De Silva as the association’s first female Chairperson.

The authorities appear to have largely contented with the pace of credit growth into the key sectors of the economy through the first half of this year, since they set forth an ultra-accommodative monetary policy stance along with targeted measures t

Sri Lanka’s tea export volumes in July declined by 8.9 percent year-on-year (YoY) to 25.54 million kilos, driven by the restricted shipping logistics combined with the possible disruptions caused by the latest COVID-19 wave, according to Forbes and

Some local banks have temporarily suspended issuing payment cards or commonly known as ATM cards to their customers, due to a supply hiccup caused by the shortage of microchips embedded in such cards globally.

Samsung, Sri Lanka’s number 01 consumer electronics and smartphone brand, has introduced a new UV sterilizer with wireless charging that can be used to quickly disinfect any smartphone, buds, spectacles, and smartwatches in just 10 minutes, whereve

Sri Lanka Export Development Board (EDB) is planning to hold the 24rh Presidential Export Awards ceremony for the financial years 2019/20 and 2020/21 on December 3rd at the Bandaranaike Memorial International Conference Hall (BMICH) under the patrona

The Ceylon Chamber of Commerce in collaboration with the Australian Government-funded Market Development Facility (MDF) will host a series of events titled, ‘The Business Case for Climate Change Adaptation for Agribusinesses,’ to increase awarene

Breaking barriers in the non-bank financial services space, First Capital introduces ’digital onboarding’ to facilitate non-face-to-face account opening for unit trusts and government securities clients for the first time in Sri Lanka.

The 9th Capital Market Conference (CAPM) is scheduled to be held today (August 24).

Commercial Bank of Ceylon has announced a partnership with DirectPay, one of the fastest-growing fintech start-ups in Sri Lanka, to provide Internet Payment Gateway (IPG) support and operate as the acquiring bank for the cashless payment solutions th

CLC Islamic Finance, the Islamic banking division (IBD) of Commercial Leasing & Finance PLC, (CLC), introduced its latest service offering: Wadi’ah (Safe Keeping), an alternative for conventional gold loans.

Bank of Ceylon (BOC), the state-owned premier Sri Lankan bank, continued to hold on tightly to its top position among other banks in the country, according to the rating by the prestigious banker’s magazine of the United Kingdom.

HNB Assurance PLC saw its top line rising in the three months to June, as individual life insurance premiums rose followed by corporate policies but the general insurance premiums fell due to still anaemic motor insurance business hurt by the ban on

Seylan Bank, the Bank with a Heart, has unveiled the first-ever SME debit card for business banking customers to convert cash transactions to POS.

First Capital Holdings PLC, a member of the Janashakthi group, recorded a profit after tax of Rs.136 million for the first quarter of 2021 (first quarter of 2021/22), compared to Rs.1.46 billion in the corresponding period of the previous year.

The Continuous Professional Development committee of the Association of Professional Bankers (APB) recently conducted the second webinar of the series of webinars, which is part of the annual calendar of the APB.

Citibank in a note issued soon after last week’s monetary policy action said although the Central Bank would pause for sometime given the temporary respite they may get from the envisaged foreign inflows via swaps and others, it did not rule out fu

After reports and a bevy of queries if certain foreign currency transactions via credit and debt cards are restricted, the Central Bank reiterated that no such restrictions were imposed nor additional charges had been levied on credit card payments m

The Central Bank intends placing a ceiling on rates of dollar deposits held by exporters in a bid to narrow the gap between the rates offered between the deposits denominated in rupees and dollars, and rupee loans.

The Central Bank has assisted importers in clearing their shipments since the country started experiencing foreign exchange shortages amid slowdown in foreign earnings and sizeable foreign debt settlements.

Backed by government support, Sri Lanka solar industry is upbeat over the ability of achieving 2700 MW target in installed capacity by 2030, which in result stands to save as much as US$ 495 million in foreign exchange outflows per annum to the count

Sri Lanka is expecting to receive the US$ 250 million swap facility entered into with Bangladesh Bank in multiple tranches starting immediately and a few other inflows during the month of August as part of the stop-gap measures by authorities to rebu

Sri Lanka is holding discussions to explore the possibility of obtaining credit lines from importing countries for big ticket imports such as petroleum to lessen the burden on the foreign exchange and thereby the balance of payment created by the pan

Gas World (Pvt) Ltd, a wholly owned subsidiary of Industrial Gases Pvt Ltd, recently announced its plans to add yet another ASU plant to increase their Medical and Industrial Oxygen production capacity.

The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) will host two important accounting assemblies in Colombo in October this year.

The Institute of Policy Studies of Sri Lanka (IPS) in collaboration with the Sri Lanka Medical Association (SLMA) and the Center for Policy Impact in Global Health of the Duke University, USA, has organised a Virtual Policy Dialogue on ‘Planning fo