Deepal Sooriyaarachchi will relinquish his duties as a Non-Executive Non-Independent Director at Sampath Bank PLC with effect from today, following the completion of his 9-year term as a director.

Hayleys group rubber glove maker Dipped Products PLC (DPL) saw its June quarter (1Q20) earnings impacted by increases in latex prices and subpar performance of its plantations cluster, the interim accounts released to the Colombo Stock Exchange showe

The Telecommunications and Regulatory Commission of Sri Lanka (TRCSL) has recently floated a White Paper on the telecom sector termination rate regime—which was introduced in 2010 to ex

Tata Housing Development Company, the real-estate arm of India’s Tata Group and a wholly-owned subsidiary of Tata Sons, plans to commence construction of its proposed mixed development project, Colombo Square, next year following the completion of

Siyapatha Finance PLC, a subsidiary of Sampath Bank PLC, has successfully raised Rs.1.5 billion through a listed debenture issue. The rated, unsecured subordinated, five-year debenture issue had an initial tranche of Rs.1 billion initially with an op

(Colombo) REUTERS: Sri Lankan shares recovered from an intraday fall of over 1 percent to close flat yesterday, while the rupee ended weaker due to importer dollar demand. The country’s benchmark sto

HONG KONG (AFP) - Asian markets fell sharply yesterday as US President Donald Trump’s decision to slap new tariffs on China ratcheted up investor fears over the trade war between the world’s top two economies. The losses in Asia followed a broad-

BEIJING (AFP) - The trade war between the United States and China escalated yesterday as Beijing threatened to unleash “counter measures” against US plans to impose tariffs on US$300 billion in Chinese goods. President Donald T

BRUSSELS (Reuters) - EU competition regulators yesterday ordered France to recover 8.5 million euros (7.75 million pounds) in illegal aid granted to Ryanair at Montpellier airport because it gave the Irish low-cost carrier an unfair advantage.

TOKYO (AFP) - The battle to combat climate change will “succeed or fail” based on what happens in Asia, where growing energy needs are increasing demand for fossil fuels, UN officials said yesterday.

Kicking off for the 18th consecutive year, the highly anticipated Profood Propack and Agbiz 2019 trade exhibition opened its doors to the public yesterday and will go on till August 4 from 10:00 a.m. to 8:00 p.m.

PARIS (AFP) - EU governments began voting yesterday on their candidate to lead the International Monetary Fund (IMF), France’s finance ministry said, an unusual move that underscores lingering mistrust between nort

SEOUL (AFP) - South Korean President Moon Jae-in yesterday condemned Japan’s decision to remove his country from a ‘white list’ of favoured trading partners, calling it a ‘very reckless’ move and threatening unspecified countermeasures. Tok

The Immigration and Emigration Department is seeking funds from the Treasury to set up a deep risk analysis, targeting, tracking and operational centre to enhance measures to counter terrorist entering the country.

Sri Lankan business chambers have failed to stand with Muslim-owned small and medium-sized enterprises at their darkest hour, a leading Muslim politician in the country said yesterday. “It was very sad for me to see the silence of the Chamber of

Union Assurance PLC (UAL) said yesterday its Executive Director/CEO Dirk Pereira tendered three months notice of his resignation from his post.

(Washington) AFP: The US Federal Reserve, under intense pressure from Donald Trump to stimulate the economy, produced on Wednesday the first interest rate cut in more than a decade but struggled to justify the move or explain where it goes next. The

The Payments and Settlements Department of the Central Bank yesterday urged people to register for real-time SMS alerts and obtain EMV chip-based payments cards to prevent fraudulent electronic transaction.

(Colombo) REUTERS: Sri Lankan shares fell for a third straight session yesterday to near one-week low, dragged down by banking and diversified shares, while the rupee ended weaker due to importer dollar demand.

One of the most common complaints of businesses/entrepreneurs in Sri Lanka is policy inconsistency and ad hoc policy changes. From the changes in taxes to changes in interest rates, Sri Lankan businesses are often faced with challenging conditions.

(San Francisco) REUTERS: U.S. central bankers are expected to lower borrowing costs this week for the first time since the depths of the financial crisis more than a decade ago. That’s the easy part.

The United States plans to become an equal partner to Sri Lanka from a donor by assisting the island nation to address the binding constraints to economic growth through Millennium Challenge Corporation’s (MCC) US $ 480 million grant.

The proposed free-visa scheme for 48 countries comes into effect from today for the next six months, aiming to speed up the recovery of the Sri Lanka tourism industry in the aftermath of the Easter Sunday attacks.

Sri Lanka’s anti-corruption authority is to introduce sweeping legislations to expand its scope to curb corruption stemming from the private sector, while holding public officials, including politicians, more accountable.

Come August, Sri Lanka will finally see the establishment of an automobile manufacturing plant as Indian multinational car manufacturing corporation Mahindra & Mahindra Ltd is set to inaugurate the complex, which will up the island nation’s scope f

The Cabinet ministers with vested business interests should relinquish their interests or step down in order to create a clean government, asserted Finance State Minister Eran Wickramaratne, at a recent anti-graft forum in Colombo.

Inflation measured by the Colombo Consumer Price Index (CCPI) fell to 3.3 percent in July on a year-on-year (YoY) basis, decelerating from 3.8 percent recorded for the month of June, the Census and Statistics Department said.

Sri Lanka’s largest bank, Bank of Ceylon (BOC), yesterday commenced 80th anniversary celebrations of the bank at the BMICH under the patronage of President Maithripala Sirisena and Prime Minister Ranil Wickremesinghe. The picture shows BOC Chairman

Exporters this week blamed the country’s political leadership for failing to unlock the growth potential in the post-war Sri Lanka while driving the country on path to increased corruption. “The political leadership has failed to lead this coun

Seylan Bank PLC saw its June quarter (2Q19) earnings hit by flat net interest income and impact stemming from Debt Repayment Levy, the interim accounts released by the bank to the Colombo Stock Exchange showed. The banking group record