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Sri Lanka’s state-owned Ceylon Petroleum Corp (CPC) is under pressure to raise fuel prices as the refiner continues incurring lossesas oil prices have skyrocketed in the global market a front line minister said.

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Sri Lanka’s government could get a minimum of 1,500 million US dollars from the sale of reclaimed land leases in Colombo Port City, thought actual earnings are likely to be higher, State Minister for Finance Nivard Cabraal said.

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The Sri Lankan economy is experiencing, renewed disruptions due to the emergence of the third wave of the COVID-19 pandemic and related preventive measures, including isolation,” the central bank said in its May monetary policy review.

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Two Sri Lankan Financial institutions Kanrich Finance Ltd and the Commercial Bank have been fined by the Central Bank for its failure to comply with the stipulated reporting on financial transactions.

Wednesday, 19 May 2021 22:48

ComBank makes strong start in 2021

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The Commercial Bank Group has generated strong growth in fund-based operations in the first quarter of 2021

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Sri Lanka’s external sector showed a mixed performance in March 2021 with a widened trade deficit on the one hand, and a healthy growth in workers’ remittances and a slight pickup in the tourism sector on the other.

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Sri Lanka’s leading agribusiness company Watawala Plantations PLC (WATA) has announced that SBI Ven Holdings (Pte) Ltd, the overseas private equity firm of Tokyo-based SBI Holdings Inc, has invested US$2 million in Watawala Dairy Farm through Watawala Dairy Ltd (WDL).

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The Board of Investment (BOI) is now completely out of target in attracting Foreign Direct Investment confining its operations to encourage BOI enterprises to carry out their businesses, economic experts warned

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Sri Lanka will be implementing a comprehensive cross border and foreign currency transactions monitoring system through licenced banks to assist migrant workers on the continuation of their remittances from overseas

Monday, 17 May 2021 23:48

MBSL records strong turnaround in 1Q

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The Merchant Bank of Sri Lanka and Finance PLC (MBSL) a subsidiart of Bank of Ceylon has made a strong turnaround by posting a profit during one of the worst-affected periods in recent history demonstrating its ability and resilience to overcome obstacles

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