Profits at premier blue chip John Keells Holdings PLC (JKH) during the June quarter (1Q20) plunged as revenues decelerated amid the deterioration in consumer and business sentiments and due to the changes to an accounting standard hitting the finance

Hutch Telecommunications Lanka (Pvt.) Ltd, a subsidiary of Hong Kong-based CK Hutchison Group, is eying to enter Sri Lanka’s e-commerce sector with a strategic partner, after the completion of the island

World-renowned The Banker Magazine UK 2019 reaffirmed Bank of Ceylon’s (BOC) place among the top 1,000 banks in the world with the country rank number one. BOC can boast of the financial and operational strength that it has demonstrated throughout

Dunamis Capital PLC yesterday said they are engaged in preliminary discussions with a prospective investor for an investment in the shares of First Capital Holdings PLC. Dunamis Capital is the controlling shareholder of First Capital Holdings. Unusua

(Colombo) REUTERS: Sri Lankan shares rose for a third straight session yesterday to hit their highest close in nearly five months, led by a rally in banks, but the rupee weakened on higher importer dollar demand

The Board of Investment (BOI) issuing a statement yesterday clarified its position on the recent controversy regarding the importation of garbage containers by certain parties, under the Hub Act.

Listed knit fabric maker, Teejay Lanka PLC, has announced plans to partner with a leading Chinese company to venture into the manufacture of lace, thereby significantly expanding the company’s product portfolio. As a first step, Teejay is to commen

On behalf of the Executive Committee and members of Sri Lanka Maldives - Business Council it is with great pleasure I congratulate the Government and citizens of Maldives all our Maldivian Business counterparts on the celebration of their 54th Indepe

The Republic of Maldives today, celebrates its 54th Independence anniversary and I would like to wish each and every Maldivian residing in this beautiful country of Sri Lanka and the whole of Maldives a joyful Independence Day.

On the auspicious occasion of our 54th anniversary of Independence, I convey warm felicitations and sincere good wishes to all Maldivians residing in Sri Lanka. As we also celebrate the 54th anniversary of the establishment of Diplomatic relations be

As the Republic of Maldives celebrates its 54th Independence anniversary, it gives me great joy to express my heartfelt greetings and good wishes to all Maldivians residing in Sri Lanka.

With the aim to strengthen the safety of its riders, Uber, the world’s largest on-demand ride-sharing company, has launched a public awareness campaign

Sri Lanka’s Credit Information Bureau (CRIB) plans to release credit scores of banked citizens from next month onwards, which is to be extended to all citizens by late 2020, with the CRIB switching t

Sri Lanka’s Regional Plantation Companies (RPCs) are growing impatient over President Maithripala Sirisena’s policy indecisiveness on oil palm cultivation, as Rs.400 million worth of nursery-stage oil palm plants are about to go into waste. Plan

(Washington) AFP: Global trade tensions, continued uncertainty and rising prospects for a no-deal Brexit are sapping the strength of the world economy, which faces a “precarious” 2020, the International Monetary Fund warned on Tuesday. Trade conf

After almost three months since the Easter Sunday attacks, Sri Lanka’s tourism authorities still have failed to award the PR and advertising campaigns to the selected advertising agency, to support the flagging industry. The Cabinet approval was gi

(Colombo) REUTERS: Sri Lankan shares jumped more than one percent yesterday to hit their highest close in nearly 20 weeks, led by gains in banking and diversified stocks, while the rupee weakened on higher import

ETL Colombo (Pvt.) Ltd yesterday outrightly denied any claims that it is the ultimate importer of the 130 containers of “used mattresses” imported to Hayleys Free Zone, Katunayake, for reprocessing and r

Sri Lanka fell one place in the Global Innovation Index (GII) 2019, after gaining two places in last year’s index. The GII, a collaboration between Cornell University, INSEAD and the World Intellectual Property Organisation, placed Sri Lanka at the

Sri Lanka’s cement demand is expected to rebound by 3-4 percent this year, indicating a construction sector recovery after demand contracted by five percent last year.

While maintaining that the US$ 20 billion export target is still a possibility for this year, Development Strategies and International Trade Ministry yesterday said Sri Lanka would likely end the year with US$ 18.5 billion in export earnings, an achi

Union Bank of Colombo PLC reported some modest performance for the three months ended June 30, 2019 (2Q19) in the backdrop of an economy where business activity had slowed down significantly, the interim financial accounts released to the Colombo bou

A leading apparel exporter in the country has called for clarity and direction from the government for private enterprises to play a key role in regaining and sustaining Sri Lanka’s economic resurgence in the aftermath of the Easter Sunday attacks

(Colombo) REUTERS: Sri Lankan shares closed firmer yesterday, led by gains in diversified and banking stocks, while the rupee weakened on higher importer dollar demand.

Keells Food Products PLC (KFP) revenues languished and profits fell during the three months ended June 30, 2019 (1Q20) as the processed meat producer fell victim to subdued consumer spending in a sluggish economy. The company reported earni

The Cabinet of Ministers yesterday approved a proposal to re-implement the proposed free on arrival visa programme for tourists that was suspended due to Easter Sunday attacks. Accordingly, free on arrival visa will

While strongly denying that Hayleys had imported environmentally hazardous materials into the country, the firm assured that it is working together with the Board of Investment (BOI) and Central Environmental Authority (CEA) to re-export the used mat

Sri Lanka’s vehicle registration slumped to a 36-month low in the month of June, as the activity in the economy turned sluggish with the fallout of the Easter Sunday attacks amid slowing credit and higher non-performing loans (NPLs).

Entrepreneurship in Sri Lanka remains very low compared to its peers in Southeast Asia, which the government is trying to address through its flagship Enterprise Sri Lanka project, according to Finance State Minister Eran Wickramaratne.