Business

Posting a steady performance, Orient Finance PLC recorded a profit before tax of LKR 59 Mn for the first quarter of the financial year 2021-22, indicating a growth of 217 per cent in comparison to the corresponding period in the…

Crises can often lead to significant changes in almost every operational aspect of life. The ongoing global COVID-19 pandemic is a fitting example of how profound disruption can be. Many industries and markets had to radically shift to…

Issuing a statement the Central Bank of Sri Lanka (CBSL) refutes the claims that it has requested licensed banks to ‘devalue’ the Sri Lankan Rupee. It stated, "the Central Bank of Sri Lanka (CBSL) has observed messages being…

Sri Lanka has inked a deal for a 2 billion Renminbi term loan (approximately Rs 61.5 Billion) today, the Chinese Embassy in Colombo said in a Twitter message. “China Development Bank and Sri Lankan Government has entered into an…

The Sri Lankan rupee has further depreciated to Rs 202.89 against the US dollar. Meanwhile, the buying rate of a rupee stoods at Rs.198.19 against the US Dollar

Both Global and Sri Lankan investors and the business community need a clear and long term debt repayment plan spelt out by the government, Ceylon Chamber of Commerce Chairman Vish Govindasamy said. At a special virtual press…

Softlogic Holdings PLC delivered a robust business performance in 1QFY22 achieving a consolidated top line of Rs. 24.5 billion, up 73% (1QFY21 - Rs. 14.2 billion). The quarterly operating profit was Rs. 2.3 billion (operating loss of…

The Professionals National Front (PNF) alleged that any reform laws governing the Urban Development Authority (UDA) may be part of the Millennium Challenge Corporation (MCC) agenda for land reform in Sri Lanka. They noted that the…