(Colombo) REUTERS: The Central Bank is expected to leave its key interest rates unchanged on Friday, a Reuters poll showed, but a surprise rate cut is not ruled out due to sluggish economic growth ahead of a presidential election later this year. Ten

Sri Lanka’s trade deficit in June narrowed to the lowest since October 2010 amid a significant decline in imports and a modest increase in exports, Central Bank data showed. The tra

Mahindra Finance, a unit of India’s Mahindra & Mahindra (M&M) this week entered into a joint venture with Ideal Finance Ltd., a fully owned subsidiary of Sri Lanka’s Ideal Group, investing Rs.2 billion to acquire 58.2 percent stake in the finance

A leading equity research house in the country believes the Central Bank will maintain the key policy rates at their current levels this Friday amid pick up in credit growth and expansion in the industrial production following April 21 Easter attacks

NDB Bank yesterday (20th) celebrated its 40th year anniversary, along with the bank’s past chairmen, past CEOs, current Chairman Kavan Ratnayake, Group CEO Dimantha Seneviratne and the senior management team and staff at the bank’s head office in

The Securities and Exchange Commission (SEC) yesterday said it filed action against four investment advisors for market manipulation in relation to the shares of Radiant Gems International PLC (RGEM) d

Hayleys PLC yesterday said its Rs.3 billion debenture issue was oversubscribed on the opening day. Hence, the issue was closed at 4.30 p.m. yesterday. The diversified conglomerate offered 20 million listed, rated, unsecured, senior, redeemable, five

Sri Lanka has a high potential to attract U.S. firms, which are trimming down their investments in China, and looking for alterative locations amid growing trade tensions between the world’s number one and number two economies.

India’s Mahindra & Mahindra( M&M) and Sri Lanka’ Ideal Motors launched their Rs.3 billion joint venture vehicle assembly plant with aspirations to set-up an automotive industrial park going forward to further boost local value additions. Prime M

Profits at LOLC Holdings PLC surged during the June quarter (1Q20) helped by a hefty negative goodwill stemming from an international acquisition by the group, the interim financial accounts released to the Colombo bourse showed. The group wh

Diversified conglomerate Softlogic Holdings PLC’s (SHL) June quarter (1Q20) performance was hit by Easter bombings and resultant demand slowdown amid significantly higher finance costs due to the group’s high level of gearing, SHL’s interim fin

(Dar Es Salaam) REUTERS: The U.S.-China trade war and uncertainty over Brexit pose risks to Africa’s economic prospects that are “increasing by the day,” the head of the African Development Bank (AfDB) told Reuters.

Manufacturing activities picked up in July with increased new orders, signaling a recovery from the Easter attacks. The manufacturing

Colombo-based free market think tank Advocata welcomed the decision by the government to open the Committee on Public Enterprises (COPE) hearings to the media. “The government has enforced this timely initiative in a greater attempt to promote acco

JAKARTA (AFP) - Indonesian President Joko Widodo said yesterday he would press on with plans to move the nation’s capital and roll out measures to kickstart Southeast Asia’s biggest economy as it feels the sting of slow

This government has allocated massive funds for the development of Northern province and more projects are to be launched, said Industry and Commerce Minister Rishad Bathiudeen yesterday, addressing the ceremonial opening of a new hospital wing in Va

WASHINGTON (AFP) - American consumers appear to be carrying the US economy in their shopping carts as manufacturing slumps amid President Donald Trump’s trade conflict with China, and financial signals warn of a possible recession. “The economy i

HONG KONG (AFP) - Cathay Pacific announced the shock resignation yesterday of its CEO Rupert Hogg, compounding a torrid week for the Hong Kong carrier after it was excoriated by Beijing because some staff supported pro-democracy protests.

Sri Lankan shares hit their lowest close in a week yesterday as investors remained on the sidelines and sought more clarity after the main opposition party, seeking to capitalise on public clamour for a decisive leader,

HONG KONG (AFP) - Asian markets were jittery yesterday as a volatile week marked by lingering worries over the US-China trade war and its impact on the world economy drew to a close.

NEW YORK (AFP) - General Electric shares plunged Thursday after an accounting expert accused the company of fraud, an allegation the industrial giant strongly denied and said was tainted by the accuser’s financial incentives.

Sri Lanka must fulfil its commitments to foreign investors by moving ahead with the proposed amendments to Fiscal Management (Responsibility) Act and the new Monterey Law Act to ensure access to international capital markets, which is crucial for the

Commercial Bank of (Ceylon) PLC, Sri Lanka’s largest private bank with over Rs.1.36 trillion in assets, saw its June quarter (2Q19) performance hampered by a spike in provisions made against possible bad loans and contraction in its loan book. The

Nations Trust Bank PLC (NTB) reported lower profits for the period ended June 30, 2019 (2Q19) as the margins narrowed while sour loans rose as the bank became a yet another victim of the hobbling economy and weak sentiments.

Pan Asia Banking Corporation PLC saw its June quarter (2Q19) earnings impacted by weak core banking operations amid contraction in the bank’s loan book, the interim accounts of the bank released to the Colombo Stock Exchange showed.

The Central Bank is planning to assess the creditworthiness of Sri Lankan households, as the financial sector regulator wants to identify the risks emanating from the household sector to the country’s financial system.

(Colombo) REUTERS: Shares closed weaker yesterday as investors locked in profits after the recent rally in financial and industrial stocks, while the rupee edged down on importer dollar demand.

A leading economist in the country predicts a gloomy economic outlook for this year with economic growth stagnating at 2 percent, in the aftermath of the Easter Sunday attacks on April 21. “In 2019, we

National Development Bank PLC (NDB) reported subdued performance for the quarter ended June 30, 2019 (2Q19) as the provisions made on possible bad loans spiked while lacklustre demand for new loans slowed growth.