Business LNP - KH posts Rs.2.43 bn loss in 1Q 2020/21
Sri Lanka’s foremost conglomerate, John Keells Holdings (JKH) Group’s profit before tax (PBT) is a negative Rs.2.43 billion in the first quarter of the…
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Business LNP - Coronavirus: Vietnam bans wildlife trade over pandemic risk
Vietnam has banned the import of wildlife and wildlife products to reduce the risk of new pandemics. The move also bans wildlife markets for such items,…
Business LNP - Apparel sector yet to see any light at end of tunnel
By Shabiya Ali Ahlam Sri Lanka’s apparel sector, which has been undergoing an extremely tough time due to the economic malaise created by COVID-19…
Business Development of local canned fish industry could save country US$ 70 mn annually
The Canned Fish Manufacturers Association of Sri Lanka (CFMASL), thanked the government for assisting local producers and industries during the Covid lockdown…
Business May trade gap narrows amid sharp drop in imports
Sri Lanka’s trade deficit narrowed by US $ 416 million in May 2020 to US $ 407 million, as imports slumped to less than US $ 1 billion for the first time since…
Business LNP - Dialog Awarded Sri Lanka’s Most Valuable Brand by Brand Finance for Second Consecutive Year
Dialog Axiata PLC, Sri Lanka’s premier connectivity provider, had the distinction of being awarded the title ‘Sri Lanka’s Most Valuable Brand’ for the second…
Business CBSL approves Rs.28 billion business revival loans
The Central Bank has approved 13,861 loan applications under the Phase-I of Saubagya (Prosperity) Loan Scheme, totaling Rs. 27.9 billion, out of which the…
Business SLI only insurance company to secure AAA(lka) Fitch Rating
Sri Lanka Insurance emerged as the only insurer in Sri Lanka to maintain National Insurer Financial Strength (IFS) rating of ‘AAA(lka) with a Stable Outlook…
Business Construction sector to demonstrate resilience - ICRA Lanka
Construction sector is expected to demonstrate resilience compared to other economic sectors of Sri Lanka ICRA Lanka in their Construction Sector Outlook said,…
Business People’s Bank offers special COVID-19 loans up to Rs.20mn to CA Sri Lanka members
From left: CA Sri Lanka CEO Dulani Fernando, Vice President Sanjaya Bandara, Council Member Tishan Subasinghe, President Manil Jayesinghe, People’s Bank Acting…
Business Tourism business weighs on Aitken Spence March performance
The well-diversified nature helped Aitken Spence PLC to weather two back-to-back crises within one financial year but its leisure sector tilt still had a…
Business Prime Group sets benchmark for real estate industry with credit rating
Prime Group has made history becoming the first institution in the Sri Lankan real estate industry to receive a prestigious issuer rating of Stable from ICRA…
Business Sri Lanka may benefit from early buyback of US$ 1bn ISB maturing in October
Sri Lanka may benefit from an early buyback of US$1 billion dollar-denominated international sovereign bond (ISB) maturing this October, although buying back…
Business Singer March revenues below expectations; expects retail operations to normalise from Sept. quarter
Singer Sri Lanka PLC’s March 2020 top line came in at below the previous year’s levels but reported higher operating profits, possible from reduced selling and…
Business February trade gap widens as exports languish; imports up
Sri Lanka’s trade deficit in the month of February widened by US$ 574 million as exports languished and imports rose, latest data released by the Central Bank…
Business Informal sector leads direct-to-consumer market over established channels during lockdowns
Informal sector appears to be making the most of the direct-to-consumer model,which flourished during the two-month long shelter-in-place conditions as the…
Business Bourse rebounds after two days of losses
The Colombo Stock Exchange (CSE) rebounded yesterday after two days of losses, with the benchmark All Share Price Index (ASPI) increasing by 2.81 percent or…
Business Shares fall as consumer, industrial stocks weigh
REUTERS: Sri Lankan stocks closed sharply lower yesterday, weighed by consumer discretionary and industrial stocks, as investors returned to stock markets this…
Business Tea industry urges sector players to maintain end product quality
Although Sri Lanka’s tea industry has been able to brew a strong cuppa amid the global pandemic, the sector representatives caution that the industry should…
Business CSE to resume trading today; foreigners look to sell
By Nishel Fernando The Colombo Stock Exchange (CSE) is scheduled to resume trading today as the market braces for heavy foreign selling despite…
Business Strict guidelines proposed for tourism sector
Strict guidelines have been proposed for the tourism sector as the industry prepares to open its doors and resume operations. A draft document prepared by the…
Business ADB provides guarantee for USD 25 million trade loan to Sri Lanka
The Asian Development Bank (ADB) has provided a guarantee for a $25 million trade loan to the State Pharmaceuticals Corporation of Sri Lanka (SPC) to purchase…
Business SriLankan launches dedicated cargo flights to rescue export industries
National carrier, SriLankan Airlines, is making a decisive move to rescue the country’s much troubled export industries by launching dedicated cargo services…
Business No foreign financial aid to COVID-19 campaign: MR
Prime Minister Mahinda Rajapaksa said today that no financial aid has received from foreign countries to be utilised in the COVID-19 campaign. The Prime…