As Sri Lanka explores avenues for greater economic prosperity amid pressing challenges that stem from the global front, in addition to those locally inherited, President Gotabaya Rajapaksa called for an enabling private sector, one that is bold and h

Sri Lanka yesterday received a strong pledge of commitment from its neighbouring giant, India, with its Finance Minister affirming improved assistance to help the government strengthen the national economy.

The delay in completing the construction of Grand Hyatt Hotel project during 2015-2019 period has cost the Sri Lankan taxpayer a whopping Rs.31.8 billion— Rs.1.8 billion in damages and Rs.30 billion in cost overruns.

People’s Bank CEO/GM Ranjith Kodituwakku was bestowed with the ‘CEO of the Year’ award at the CMO Asia Sri Lanka Innovation Leadership Awards on November 24, in recognition of his dynamic contribution towards the digital transformation of Peopl

The Cabinet of Ministers this week gave its nod to extend foreign exchange controls on outward remittances up to June next year, to preserve the country’s foreign currency reserves and minimise pressure on exchange rate.

The Central Bank yesterday extended the validity period to open Special Deposit Accounts (SDAs) introduced this April to bring in foreign currency into the country at higher interest rates than what is offered under normal circumstances to lure more

The government has decided to further mitigate its reliance on foreign borrowings as the Cabinet of Ministers agreed to convert all foreign-funded projects planned for next year into various other arrangements, which would not swell the country’s a

Fitch Ratings has downgraded the rating on SriLankan Airlines Limited’s US$175 million government-guaranteed 7 percent unsecured bonds due 25 June 2024 to ‘CCC’, from ‘B-’.

State banking giant Bank of Ceylon (BOC) successfully raised Rs.10 billion through the issuance of Basel III compliant, unlisted, rated, unsecured, subordinated, perpetual, additional tier 1 (AT1) capital bonds with non-viability full and permanent w

The Asian Development Bank (ADB) and the Government of Sri Lanka (GOSL) yesterday signed a US$ 400 million loan agreement to support the country in transforming its secondary education system to align with the demand for highly skilled and agile work

Following the resignation of Susantha Ratnayake as the Chairman of Board of Investment (BOI), the government is currently considering whether to combine the Chairman and Director General positions into one role or continue with the current structure.

NewsIn.Asia: Now that the Gotabaya Rajapaksa government has finally decided to get India, Japan and the Sri Lanka Ports Authority (SLPA) to jointly develop the Eastern Container Terminal (ECT) in Colombo port, the details are being worked out with th

At last, the rubber price is improving; the event we have long waited for but we do not know for how long it will last. The growers had to undergo a long frustrating period with rubber, as far as the price is concerned and therefore, it is not unreas

Stock investors snubbed the sovereign downgrade by Fitch Ratings last Friday, as the market continued its bull run in the first session opened on Monday, after the rating action.

Moody’s Investors Service, in a report issued on the emerging market banks and insurance companies said yesterday that Sri Lankan banks would experience large capital declines without new capital injections over the next two years, due to asset qua

The Monetary Board of the Central Bank yesterday withdrew the appointment granted to NatWealth Securities Limited (NWSL) to function as a primary dealer.

The Sri Lanka Bureau of Foreign Employment (SLBFE) said it has resumed sending migrant workers to Saudi Arabia, for employment.

As Sri Lanka is faced with the added challenge of dealing with the social consequences arising from the COVID-19 pandemic, the United Nations Development Programme (UNDP) expressed concerns on the country’s rising levels of poverty and widening ine

Headline inflation, as measured by the year-on-year (YoY) change in the Colombo Consumer Price Index (CCPI), increased marginally to 4.1 percent in November 2020, from 4.0 percent in October 2020.

The much-awaited Sri Lanka Economic Summit will be inaugurated today, with the patronage of chief guest President Gotabaya Rajapaksa.

While cautioning on a recent phenomenon where investment advice is dispensed on social media platforms by individuals and various other outfits, the market regulator, the Securities and Exchange Commission (SEC), urges investors to obtain investment

Kahawatte Plantations PLC board of directors has resolved to capitalise Rs.800 million of related party debt via a private placement, at Rs.41 per share, to controlling shareholders.

The government ramped up its borrowings in October as the virus resurgence necessitated pumping more money into the hands of the public while powering the essential services required to control the spreading of the virus.

Sri Lanka’s vehicle registrations in October crashed to a new record low across the board, including all commercial vehicle categories, due to the economic impact of the second wave of COVID-19 outbreak and import restrictions on personal vehicle i

The director board of Hatton National Bank PLC (HNB) has resolved to raise up to Rs.7 billion via a Basel III-compliant debenture issue.

Two vessels owned by global French transportation and shipping group CMA CGM made their maiden call at HIP last week.

Prime Minister and Minister of Finance Mahinda Rajapaksa is to make a statement in parliament on the restructuring of The Finance Company next week.

Maldives is witnessing a slow, but gradual increase in tourist arrivals with over 78,000 travellers having visited the archipelagos within the March- September period despite the global pandemic.

Seylan Bank last Friday told the market that it decided to postpone a debenture issue to raise up to Rs.10 billion announced in the latter part of July this year due to current volatile market conditions.