Monetary Law to be amended to suit inflation targeting
Amendments to the Monetary Law Act (MLA) is to be present to Parliament next year to suit the Flexible Inflation Targeting (FIT) frame-work with the a...
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SL seeks $500 mn apparel trade deal with India
Sri Lanka is hoping to convince India to remove the existing quota system for the apparel industry and instead requesting a US$500 million worth trade...
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Lankan banks sit on Rs.19bn capital hole as sector braces for BASEL III
The Sri Lankan banks satisfy many of the key matrices such as growth, profits, efficiency and asset quality against most regional peers but the sect...
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HNB Assurance Group delivers notable financial results for Q1 2018; PAT up
HNB Assurance Group delivered a notable financial performance, reporting a Profit After Tax (PAT) of LKR 699 MN for Q1 2018 reflecting a steady growth...
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INSURANCE INDUSTRY ACTS FAST; DEPLOYS LOSS ADJUSTERS
National Insurance Trust Fund provides Rs 40m for flood relief The National Insurance Trust Fund Board (NITF) has released Rs. 40 million to provide ...
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Ceylinco Insurance announces ‘record’ 315 percent dividend
Ceylinco Insurance PLC, announced an incomparable dividend of Rs.31/50 per share to its shareholders for the year 2017, which constitutes aÂ...
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Aitken Spence ups FY18 pre-tax profit by 22% to record Rs. 6.4 b
Aitken Spence Plc recorded a steady financial performance for the 12 months ending 31 March 2018 with a 22% year-on-year growth in profit-before-tax f...
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Hayleys first listed firm to cross $1b turnover
Building on a strong momentum gathered over the final quarter of FY 2017/18, Sri Lanka’s leading diversified conglomerate Hayleys PLC announced a re...
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National Export Strategy for Cabinet nod soon - Malwatte
Export target for 2018 scaled up to US$ 17.8 bn Measures to increase exports by 15% annually Sri Lanka’s exports in 2017 has grown by 15% to U...
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Hackers transfer US$13 mn from businessmen via emails: CERT
The Computer Emergency Readiness Team | Co-ordination Centre (CERT|CC) said yesterday they had received complaints about fraudsters hacking into email...
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Business confidence falls to a 70-month low
The latest edition of business magazine LMD reports a decline of 19 basis points in the LMD-Nielsen Business Confidence Index (BCI). It fell to 98 in ...
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Scam causes Rs. 10 m loss at CPSTL, Arjuna to probe
An alleged scam has caused a loss of Rs. 10 million at the Ceylon Petroleum Storage Terminal (CPSTL) on the day fuel prices were hiked, prompting Mini...
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Singer revenue in 1Q up 13% to Rs. 13.6 b despite challenging environment
Singer (Sri Lanka) Plc yesterday announced a 13% increase in revenue to Rs. 13.6 billion in the first quarter of 2018 in spite of challenging business...
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Facebook to empower entrepreneurs in SL
Facebook’s global ‘Boost Your Business’ program is now available for the youth and entrepreneurs of Sri Lanka. Recognizing the potential of the ...
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‘Tax on gold imports has helped save valuable foreign exchange’
Central Bank's imposition of a 15 percent tax on gold imports really helped to prevent foreign exchange from going out of the country, Central Bank Go...
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EU provides Rs. 810 mn in technical assistance to modernise Sri Lanka’s agricultural sector
The European Union has launched a Rs. 810 million project to support the modernization of Sri Lanka’s agriculture sector, according to a statement i...
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Nationwide inflation contracts to 2.8%
Nationwide inflation during March this year contracted to 2.8 per cent year-on-year from 3.2 per cent recorded in February 2018 as food inflation decl...
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Teejay Lanka’s Q4 pre-tax profit up 27% to Rs 501.6 million
Teejay Lanka PLC has reported profit before tax of Rs 501.7 million at Group level for the final quarter of 2017-18, to end a challenging year with a ...
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Sri Lanka economy to rebound, delaying reforms pose risks: World Bank
The World Bank says Sri Lanka's economy will rebound in 2018 with annual growth averaging 4.5 percent in the medium term, driven by private consumptio...
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Do you have 25% stake in a company? Then be ready for a visit by CID
If you are a director or a shareholder having 25 percent or more shares in a company, it won’t be too long before an officer from the Criminal Inves...
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Govt. ready to launch Trade Information Portal in May
80% of work completed with support of 55 agencies DoC DG raises concerns over delays in implementing commitments under TFA Customs D...
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Consumer authority to nab errant traders
Sri Lanka's Consumer Affairs Authority (CAA) has taken measures to carry out special raids to nab errant traders throughout the country during the u...
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