Business CB tells banks to prepare for sweeping industry changes with new Banking Act
New Banking Act to come into effect in 2021 Banks will have to address supervisory concerns or risk monetary penalties The Central Bank (CB) wants Sri Lanka’s…
Business News
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Business HNB one of the best capitalised banks in the country: Managing Director
Jonathan Alles, Managing Director and Chief Executive of Hatton National Bank (HNB) in an interview with Mirror Business speaks about the bank’s key…
Business Getting a shelling of his own seeking!
Number One had other day tongue-lashed the white-collar high-up who had misinformed him about the advance payment of Rs. 2 billion allegedly made to a Chinese…
Business Groom named Thomas Cook has wedding ruined by Thomas Cook collapse
CNN: A groom who shares the same name as the travel operator Thomas Cook has had his wedding plans ruined by the company’s collapse. Cook and his partner,…
Business Hemas wins Asia’s Most Socially Responsible Company Award
Shiromi Masakorala, General Manager – Sustainability and Corporate Communications of Hemas Holdings PLC and Executive Director of Hemas Outreach Foundation and…
Business Important yogas in
Vedic Astrology gives an important place among predictive techniques to yogas or special combinations or configurations of planets in a horoscope. In the…
Business IFC evaluating nearly US $ 250mn investment opportunities in Sri Lanka’s private sector
The International Finance Corporation (IFC), the private sector arm of the World Bank Group, is evaluating nearly US $ 250 million worth of investment…
Business SL Economic Summit 2019
Sri Lanka Economic Summit (SLES) 2019, kicked off at Cinnamon Grand Colombo, today. The two-day event is themed around Recalibrating Sri Lanka’s Economic…
Business Sunshine Holdings supports Economic Summit 2019
For the fifth consecutive year, Sri Lanka’s diversified conglomerate Sunshine Holdings PLC will support the country’s premier summit for key policymakers,…
Business Effective public financial mgt. crucial to achieve economic prosperity: CB Governor
Considering the important role government activities play in an economy, the need for effective public financial management, which is built on trustworthiness…
Business Ravi Wijeratne offers to buy troubled MTD Walkers
Company says Wijeratne has reached agreement with Malaysian parent to acquire shares To make a voluntary offer to all shareholders under Takeovers &…
Business Rupee ends at its lowest in over 7 months; stocks fall
Sri Lanka’s rupee closed at its lowest level in over seven months as foreign fund outflows from government securities rose, while stocks extended losses for…
Business Higher credit costs and taxes to put banking sector profitability under pressure: Moody’s
Moody’s maintains negative outlook for Sri Lanka’s banking sector Forecasts SL’s GDP growth to slow to 2.6% in 2019 from 3.2% in 2018 Says fundamental risks to…
Business Trade war fractures Asian global value chains
On August 24, US President Donald Trump announced an increase from 25 to 30 percent for the existing tariffs on US $ 250 billion of Chinese imports from…
Business Central Bank slashes rates to revive economy
Cuts policy rates by 50 basis points CB Governor says noteworthy current negative output gap led to the rate cute According to CB, monetary policy relaxation…
Business India’s Mahindra Finance to acquire control of Ideal Finance for Rs.2bn
From left :Ideal Finance Ltd Chairman Nalin Welgama (fourth from left) exchanging agreement with Mahindra Finance Executive Director & Chief Financial…
Business Softlogic 1Q hurt by Easter attacks, higher finance costs
Records net loss of Rs.752.6mn Retail, hospitals and leisure record slow growth Net finance cost surges 51% to Rs.1.4bn Diversified conglomerate Softlogic…
Business Pan Asia Bank June quarter earnings down 5%
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…
Business Indian pepper growers concerned over Sri Lanka’s move to ease exports
Business Line: Indian domestic pepper growers have taken strong exception to the reported move by the Sri Lankan government to hold talks with India for…
Business SriLankan to post loss of up to US $ 16mn due to Easter attacks
Sri Lanka’s state-run airline is set to report a loss of up to US $ 160 million this year, as tourism in the island nation suffers following the Easter…
Business Shares finish at over 5-month high; rupee flat
Sri Lankan shares rose for a fourth straight session to hit their highest close in over five months yesterday, led by a rally in beverage and banking stocks…
Business Leading apparel exporter calls for clarity and direction
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…
Business Hayleys assures re-exportation of used mattresses stored at its free zone
From left: Hayleys Advantis Limited Director Dr. Asanka Ratnayke, Hayleys Advantis Limited Managing Director Ruwan Waidyratne and HFZT Director Amal Rodrigo…
Business Shares extend gains for 8th session on foreign inflows
COLOMBO (Reuters) - Sri Lankan shares rose for the eight consecutive session yesterday to end at a more than a four-month high, as banking stocks continued to…