The purchase of South Asia Textiles Limited by Hayleys Fabric PLC could in the short-term weigh on the combined entity earnings due to decline in margins and the increase in finance cost stemming from the borrowings, which may have been made to fund

The government was presented with a long list of issues faced by the local business communities last week with the Federation of Chambers of Commerce and Industry Sri Lanka (FCCISL) highlighting the plight of its member associations due to the pandem

With an extensive vaccination drive and easing travel restrictions, Sri Lanka’s economy has started to show signs of a positive outlook. The World Bank forecasts a 4 percent growth in GDP in 2021.

BuzzFeed, the 15-year-old digital media company known for its lists, quizzes and its Pulitzer Prize-winning journalism, announced Thursday that it plans to go public at an estimated valuation of US $ 1.5 billion.

Fitch Ratings has assigned Commercial Bank of Ceylon PLC’s (CB, AA-(lka)/Stable) proposed Sri Lankan rupee-denominated Basel III-compliant subordinated debentures of up to Rs.10 billion an expected national long-term rating of ‘A(EXP)(lka)’.

Mastercard yesterday announced the appointment of Nikhil Sahni as its new Division President South Asia and Country Corporate Officer (CCO) India, taking over from Porush Singh.

The chairman of scandal-hit Japanese conglomerate Toshiba has been voted out after a shareholder revolt.

Aitken Spence Elevators has been audited and awarded with the two prestigious integrated ISO certifications by SGS Lanka including ISO 14001:2015 (Environment Management System) and ISO 45001:2018 (Occupational Health and Safety).

At the recently concluded Colombo Tea Auctions held in May 2021, Craighead, Kataboola, Queensberry, Galamuduna and Rilhena Estates managed by Kahawatte Plantations PLC (KWPL) obtained 33 of the top prices for a range of tea grades.

Sri Lanka’s apparel sector continues to beat the odds to remain competitive in the global space but just as it tackles one hurdle, crops up another.

Despite the recent Central Bank (CB) measures, Fitch Ratings expects only a limited amount of new investments into Sri Lanka’s foreign-currency government securities, which includes international sovereign bonds (ISBs) and Sri Lanka Development Bon

The United Nations Conference on Trade and Development (UNCTAD) expects a slow recovery in foreign direct investment (FDI) inflows to Sri Lanka after FDI inflows to the country contracted by a sharp 43 percent Year-on-Year (YoY) in 2020, mainly due t

The pace of business growth could moderate at Dipped Products PLC in the medium term after the global glove maker for industrial and medical needs recorded soaring sales fuelled mostly by the pandemic and the shift in sales from a key global supplier

British-born U.S. technology entrepreneur John McAfee died on Wednesday by suicide in a Barcelona prison after the Spanish high court authorised his extradition to the United States on tax evasion charges, his lawyer told Reuters.

Sri Lanka’s recent fuel hike will bring little or no benefits to the national economy, if the increase was carried out by the government to support the country’s balance sheet, a former economic advisor to the Indian Prime Minister said.

The Hambantota International Port Group (HIPG) has partnered with Shenzhen Xinji Group to set up a plug and play ‘Park in Park’ manufacturing facility within the port’s industrial zone.

R I L Property PLC this week said it completely divested its fully-owned subsidiary FoodBuzz (Private) Limited, the holder of BreadTalk franchise in Sri Lanka, to SS Equity Holdings (Pvt) Ltd. for a consideration of Rs.245 million.

Sri Lanka is preparing itself for a trade relationship sans GSP Plus with the European Union (EU), said Finance State Minister Ajith Nivard Cabraal, after the European Parliament recently adopted a resolution urging the EU Commission to withhold the

The Sri Lankan rupee, which shed its value from Rs.189 to Rs.202 within a span of six months, could further plunge to between Rs.205 to Rs.215 against the US dollar by the year end, as the country is grappling with an impending external sector crisis

The Free Trade Zone Manufacturers Association (FTZMA) yesterday in a statement stressed the need for an urgent and short-term strategy to protect Sri Lanka’s market share in the EU, in a proactive manner.

The government is gearing to amend Sri Lanka Telecommunication Act No. 25 of 1991, to broaden the regulatory scope of the Telecommunication Regulatory Commission of Sri Lanka (TRCSL) beyond telecommunication to cater to the contemporary requirements.

The Cabinet nod has been received to include further revisions in the draft bill to amend Consumer Affairs Authority Act No.09 of 2003, to meet the present requirements by giving more teeth to the Consumer Affairs Authority (CAA).

The Cabinet of Ministers this week decided to import 100,000 metric tonnes of rice, as a tool to control the rising domestic rice prices, due to artificially inflated prices by the so-called ‘rice mafia’ in the country, despite a successful paddy

The Cabinet of Ministers this week approved several key measures to restructure the country’s duopoly liquefied petroleum gas (LPG) industry, in order to maintain the current LPG prices prescribed by the Consumer Affairs Authority (CAA).

Northern province city, Jaffna will soon see the establishment of startup incubators to support budding entrepreneurs with the Prime Minister’s office having initiated the dialogue in this regard with the Mayor of Jaffna earlier today.

Despite the pandemic-related travel restrictions, Sri Lanka’s merchandise exports remained resilient in May, as exports recovered by 10.7 percent month-on-month (MoM) to US $ 884.2 million in the month from a five-month low in April, due to the ini

The foreign holdings of government securities fell the most seen in a single week last week, as they sold the treasury bills and bond stock they held amid the worsening external and economic conditions here and due to the indications by the United St

Sri Lanka’s national consumer prices in May 2021 rose at the highest level since September 2020, as the food prices skyrocketed due to the supply chain bottlenecks caused by the lockdowns, eroding people’s purchasing power and making them poorer.

The economy has already shown deeper cracks from the business and job-crippling restrictions since the third week of April and the private sector credit became the latest casualty, as ICRA Lanka believes the momentum to have been severely affected du