The licensed commercial banks can now invite multilateral financial organisations to purchase up to 20 percent of shares, as the Monetary Board has decided to relax certain rules pertaining to the maximum share ownership—a move that could enhance t

Colombo-based Fly Lankan Asia (Pvt.) Ltd has requested permission from authorities to operate domestic and international flights carrying passengers as well as cargo and mail services.

The decline in private sector credit narrowed in July, signalling that the new loans by the banking sector to private individuals and businesses were just about to surpass the loan settlements by the borrowers, which could set stage for a net growth

Money and Capital Market and State Enterprise Reforms State Minister Ajith Nivard Cabraal told Parliament yesterday that the government would introduce new instruments to attract foreign investments to re-energise the country’s economy.

National Development Bank PLC (NDB) yesterday revealed the plans to raise up to Rs.6.5 billion via a Basel III-compliant debenture issue.

Sri Lanka’s international sovereign bonds (ISBs) are gaining after they lost value during April and May, as the yields have declined sharply from their highs reached during the worst of the pandemic, in a sign that the investor confidence is rebuil

The government is planning to hand over the lands belonging to the loss-making plantation companies to tea smallholders, as a pilot project, a statement by the President’s Media Division (PMD) said.

Colombo-based Fly Lankan Asia (Pvt.) Ltd has requested permission from authorities to operate domestic and international flights carrying passengers as well as cargo and mail services.

The government is planning to hand over the lands belonging to loss-making plantation companies to tea smallholders as a pilot project, a statement by the President’s Media Division said.

The fast-moving consumer goods (FMCG) manufacturers in the country at the outset have endorsed the government’s decision to ban single-use sachets, an effort towards conserving the environment but stressed the need for an all-inclusive approach, on

Sri Lanka experienced the highest cryptocurrency mining encounters across the region last year, according to the Asia Pacific finding from the latest edition of Microsoft’s Security Endpoint Threat Report 2019.

Sri Lanka’s gem and jewellery industry yesterday welcomed President Gotabaya Rajapaksa’s decision to remove 15 percent import duty on gold and 14 percent income tax on the profits of gem and jewellery manufacturers, enabling the industry to becom

Instead of passively waiting for foreign investors to come, the stockbrokers at the Colombo bourse have been asked to proactively engage local investors, as there is a huge potential for share valuations to increase in the near future.

India’s Ajay Piramal Group has begun making offers to sell its glass business, which will include the Sri Lankan operations under Piramal Glass Ceylon PLC, according to multiple Indian news reports.

HCL Technologies (HCL), a leading global technology company, yesterday announced the official opening of its Global Development Centre in Colombo.

Lanka Ashok Leyland PLC said it has adequate vehicle stocks to continue to serve the market and also to meet any sudden uptick in demand in the near term, as the government keeps a lid on vehicle imports to preserve foreign exchange and also to buy s

Instead of passively waiting for foreign investors to come, the stockbrokers at the Colombo bourse have been asked to proactively engage local investors as there is huge potential for share valuations to increase in the near future.

Mother Truong Thi Sau was born in 1942, like many rural women, she was unable to go to school, due to the agricultural work for her family. Sooner after her marriage, her husband decided to become a monk, the burden of raising the children was put o

With Yala paddy harvesting season slowly coming to an end, paddy farmers in Padaviya are seen drying their paddy harvest on the road. Based on the cultivated extent of paddy lands as at end-May, the Agriculture Department has said Yala harvest is exp

Cumulative earnings of Sri Lanka’s non-bank finance sector have turned sour during the second quarter of this year, plunging sector earnings into negative territory, and the data available since 2013 does not indicate such trying conditions ever fa

The Central Bank is looking at employing new methodologies or updating the existing ones, which will contain the ability to capture economic activities that shifted online including working-from-home, as concerns were raised over how the economy reco

Sri Lanka’s Human Resource (HR) fraternity saw the addition of a localised publication with eminent lawyer and author Franklyn Amerasinghe having launched last week his latest book, ‘Business Oriented People Management’.

BPPL Holdings PLC, Sri Lanka’s largest brush-ware maker and exporter, has decided to pull out from the highly competitive Indonesian market after about four years since it entered the burgeoning Southeast Asian country with its own brand as the com

CEAT Kelani Holdings has announced an 85 percent increase in the production of tyres for the ‘two-wheeler’ segment over just three months, as a full-bodied response to the needs of the local market consequent to the temporary import restrictions

Eden Hotel Lanka PLC, a unit of LOLC Group, is to raise Rs.4.2 billion fresh equity through a rights issue to rectify a serious capital loss, as the equity of the hotel company has eroded to less than 50 percent of its stated capital.

Sri Lanka’s willingness to lend, which recorded a continuous decline in every quarter since fourth quarter of 2018 has staged a substantial rebound in the second quarter this year with expectations for further desire to lend in the third quarter—

Big oil producers are pinning their future growth on the world’s insatiable appetite for plastic, researchers said yesterday, in a “bet” on society’s failure to tackle disposable consumption that risks stranding billions of dollars in petroc

In an unprecedented feat among the titans of the hospitality industry in Sri Lanka, all three properties owned and operated by Citrus Leisure PLC secured three international travel accolades. Citrus Waskaduwa, Citrus Hikkaduwa, The Steuart by Citrus

Malaysia has dropped criminal charges against Goldman Sachs over its role in the 1MDB scandal, a lawyer for the bank said yesterday.

President Gotabaya Rajapaksa recently reviewed future stages of the programme to provide clean drinking water to all households for all 24-hours of the day, before the end of 2025.