Driven by record high sales volumes and the low tax regime, Nestlé Lanka PLC, the local unit of the Swiss food giant, reported the highest earnings in the firm’s recent history for the March quarter (1Q21), despite the higher sales costs and marke

Hatton National Bank (HNB) recorded a profit after tax (PAT) of Rs.4.7 billion during the first quarter of 2021, while the profit before income tax (PBT) amounted to Rs.5.5 billion. At group level, PBT and PAT were at Rs.5.9 billion and Rs.4.8 billio

National Development Bank PLC (NDB) achieved sustained results for the first quarter ended on March 31, 2021, amidst challenging conditions.

Governments in emerging markets and developing economies (EMDEs) such as Sri Lanka are urged by the World Bank (WB) to adopt a comprehensive set of policies to address the drawbacks of informal sectors,

President Gotabaya Rajapaksa has said his government stands ready to purchase paddy for higher prices than the guaranteed prices if there is any reduction in the yield due to use of organic fertilizer.

The Hambantota International Port has seen a significant increase in their RORO figures during the first four months of 2021, compared to the corresponding period last year.

Relatively low global oil prices and the resurgence seen in economic activities in the first three months of 2021 helped Lanka IOC PLC to deliver a profit in the period ended in March

Commercial Bank of Ceylon PLC reported sound performance for the three months ended in March 2021 (1Q21) as demand for loans gained pace while the company improved its margin amid the fast descent in interest rates.

Sampath Bank PLC delivered some robust profits for the three months ended in March 2021 (1Q21) as the bank saw its credit quality improving, resulting in much lower impairments than what it provided a year ago and opened its lending spigots generatin

The Cabinet of Ministers has decided to exempt the cess tax charged on imports for projects or companies with an investment value of US$ 50 million or above as part of the government’s myriad measures to incentivise investments into the country.

The local tourism sector will have to grapple with stronger health guidelines with immediate effect with the Ministry of Health (MoH) imposing tightened quarantine measures for all international travellers entering Sri Lanka.

The local tourism sector will have to grapple with stronger health guidelines with immediate effect with the Ministry of Health (MoH) imposing tightened quarantine measures for all international travelers entering Sri Lanka.

Fast-tracking development is at the core of all efforts in Sri Lanka’s journey towards progression and with technology evolving at a rapid pace across the world, the island nation has acknowledged and understood the importance of getting onboard th

The Cabinet of Ministers has approved a proposal to prepare a new master plan for the Muthurajawela wetland area and to consequently declare it as a Ramsar wetland of international importance.

Sri Lanka yesterday saw the establishment of a Presidential Task Force to help the country transition to a green socio-economy with sustainable solutions to climate change.

Dialog Axiata PLC reported a surge in both bottom and top lines during the quarter ended March 31, 2021 (1Q21) as many took to digitally powered devices ranging from smartphones and laptops as the pandemic upended how people work, study, shop, conduc

Hayleys Group’s city hotel, The Kingsbury PLC, saw its losses widening during the period ended in March 2021 (4Q21), demonstrating the severe impact of COVID-19 virus on the leisure and hospitality sector.

NDB’s recently concluded rights issue to raise Rs.8 billion in Tier I capital saw keen demand from investors with over 61 million rights changing hands prior to the last rights acceptance date.

NDB’s recently concluded rights issue to raise Rs.8 billion in Tier I capital saw keen demand from investors with over 61 million rights changing hands prior to the last rights acceptance date.

The Cabinet of Ministers has approved a proposal to prepare a new masterplan for the Muthurajawela wetland area and to consequently declare it as a Ramsar wetland of international importance.

Following the debut of Prime Lands Residencies’ Initial Public Offering (IPO) yesterday (11), the company’s oversubscription forecasts proved to be true as the initial 100 million shares were purchased in record time.

The Cabinet of Ministers granted approval for the Finance Ministry to enter into an agreement with the Asian Development Bank (ADB) to borrow US$200 million under the third tranche of the second consolidated highways investment programme.

The Employees’ Provident Fund (EPF), Sri Lanka’s largest retirement savings fund, grew by 11.2 percent or Rs.283.9 billion in assets in 2020, albeit the returns afforded to the member accounts slipped amid the fast descent seen in the country’s

Business tycoon Harry Jayawardena was recently hosted at the Port City Colombo project development site by Executive Project Management Director Raja Edirisuriya.

First Capital Research (FCR) said the new capital injections will give National Development Bank PLC (NDB) the much sought-after heft to expand its loan book by as much as 14 percent in the fiscal 2021 and 2022, nearly doubling the rate the bank expa

While the country’s health sector is pushing for more restrictions on the daily lives of people, citing the rising COVID cases, there is a widespread pushback building up from multiple sectors of society as small businesses are being pushed to the

Prime Lands Residencies, the condominium property arm of Prime Group, opens its initial public offering (IPO) today, May 11, 2021.

Although trade relations between Sri Lanka and Germany have grown deeper over the years, there still prevail untapped markets, specially in the organic products segment, senior representatives of the Delegation German Industry and Commerce in Sri Lan

In order to further strengthen the economic cooperation between the two countries,

Sri Lanka’s tax income during the first fiscal quarter has only narrowly missed the target set for the period, in a clear sign of robust economic recovery staged in the first three months of the year, which came with the return of normalcy.