The private sector stakeholders of the tourism sector continue to advocate halting the amendments to the current Tourism Act, however should the legislation governing the industry be changed, the sector players said it is essential for the relevant a

A highly-acclaimed leader and a veteran in the financial services industry, Jayantha S. B. Rangamuwa, has been elevated to the post of Chairman of Pan Asia Bank with effect from 02 May 2021.

The Sri Lanka Standards Institution (SLSI) yesterday called on cement suppliers to stop the importation of Pakistan made ‘Lucky’ cement brand with immediate effect since testing on samples drawn recently showed the product does not conform with t

Union Bank of Colombo PLC set off to a robust start in 2021 financial year recording a notable growth in loans, which translated into higher earnings and asset quality in the three months to March 2021 (1Q21).

Overseas Realty (Ceylon) PLC reported strong top line performance for the three months to March this year amid strong sales of apartments in the final two phases of the Havelock City project.

Seylan Bank PLC reported strong financial performance for the three months ended in March 2021 (1Q21) as the company treaded cautiously expanding its loan book while keeping a closer tab on the asset quality, which improved during the period.

The government has repeatedly shown that it had lost control over the prices of most of the food staples in the country as prices of many rice varieties have risen between 15 percent to 30 percent during the year through April 2021, except in a few c

Sri Lankan shares ended lower yesterday, hurt by losses in industrial and material stocks.

As Sri Lanka is exploring multiple options to pull the tourism sector towards normalcy at the earliest, special requests have been received from key source markets, such as Germany and Switzerland in four key areas; casinos, ayurveda treatments, shop

The State Minister of Money & Capital Markets and State Enterprise Reforms Ajith Nivard Cabraal recently completed a visit to Oman and Qatar as the special envoy of Prime Minister Mahinda Rajapaksa, heading the country’s delegation to the oil-rich

Sri Lanka’s merchandise export earnings nearly touched the US $ 3 billion mark in the first quarter of the year, after March earnings topped US $ 1 billion for the first time since last September.

Sri Lanka raised record US $ 652.63 million in US dollar-denominated Sri Lanka Development Bonds (SLDB) at slightly higher yields in one of the largest single issuances that was concluded yesterday, in order to rollover US $ 693.89 million SLDB matur

The Central Bank issued fresh instructions to the banks preventing them from purchasing Sri Lanka-issued International Sovereign Bonds (SLISBs) “until further notice”, ending the month-long stop-gap instructions issued thus far.

The rights issue shares of National Development Bank PLC appear to have created much investor interest, with over 22 million rights being traded on the market since the date of commencement of trading (April 27).

Sri Lankan shares ended higher yesterday, helped by gains in financial and industrial stocks The CSE All-Share Index rose 2.45 percent to close at 7,239.94 points. The index is up about 6.9 percent for the year.

Sri Lanka’s hard-hit tourism sector will require a fresh flow of investments, the Asian Development Bank (ADB) said yesterday, as steering the industry through the pandemic requires renewed efforts in ICT and human resource management.

The Asian Development Bank’s (ADB) flagship annual economic publication, Asian Development Outlook (ADO) 2021, forecasts a significant rebound in Sri Lanka’s economy, as domestic and global economic activity strengthens and vaccination campaigns

The United National Party (UNP) has challenged the statement by Money and Capital Markets and State Enterprise Reforms State Minister Ajith Nivard Cabraal that Sri Lanka was not listed by the Financial Action Task Force (FATF) for money laundering by

People’s Bank showcased its digital baking prowess yet again by completing a mammoth 5,822,504 transactions and dispensing Rs.65.3 billion from April 1 to April 15, 2021.

The Cabinet of Ministers this week approved the proposal to set up a credit guarantee institution to underwrite the loans obtained by micro, small and medium enterprises (MSMEs) when they are unable to provide a security to a bank or a finance compan

Students in South Asia are most impacted due to closures stemming from the global pandemic and have lost 55 percent of a year in learning since COVID-19 struck.

The Asian Development Bank’s (ADB) flagship annual economic publication, the Asian Development Outlook (ADO) 2021, forecasts a significant rebound in Sri Lanka’s economy as domestic and global economic activity strengthens and vaccination campaig

US-based technology behemoth Microsoft said it helped over 30 million people in 249 countries and territories gain access to digital skills during the COVID-19 pandemic, of which over 30,000 of them are from Sri Lanka.

Sri Lankan shares ended lower yesterday, dragged by financial and industrial stocks, as a spike in domestic COVID-19 cases dented investor sentiment.

A record amount of money has been raised by Sri Lankan companies as historically low interest rates have drawn them to the debt capital market, looking for the best deal in town with the aim of locking in low cost funds at least for the next five to

Prime Lands Residencies, the condominium property arm of Prime Group, has announced a first ever-virtual investor forum for its upcoming Initial Public Offering (IPO).

As the prime lending rate touched fresh lows a few times this year, the small business lending rate has also followed suit hitting fresh lows every month in a sign that businesses are now getting the best deal ever from banks when they need more fund

As the three-month suspension on entering into forward rate agreements on foreign currency expired, the Central Bank has issued fresh guidelines to licensed commercial banks specifying the instances they could enter into such agreements, until otherw

Assets under management (AUM) of the unit trusts industry slipped in March although the cumulative gain during the first three months of the year stood above Rs.11 billion.

The Telecommunications Regulatory Commission of Sri Lanka (TRCSL) says the proposed implementation of mobile number portability (MNP) by the end of the year is essential as it will help break the ongoing consumer ‘lock-in’ practice adopted by tel