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Tue, 23 Apr 2024 Today's Paper
22 Apr 2024 - 0 - 17
People’s Bank recently declared open an ATM at the Poththapitiya Service Centre. Through this ATM, the customers can withdraw ....
22 Apr 2024 - 0 - 28
The founders of a key European interest rate benchmark have said its accuracy could be affected as a result of a “deep misunderstanding”....
22 Apr 2024 - 0 - 21
National Development Bank PLC (NDB), a leading financial institution committed to promoting gender equality and diversity, announced....
20 Apr 2024 - 0 - 81
The Global Sovereign Debt Roundtable (GSDR) this week brought together debtor countries and creditors to build greater common understanding among the key stakeholders on debt sustainability and debt restructuring challenges and ways to address them. While the meeting reviewed progress on the work to improve debt restructuring processes and timelines, it helped address debt vulnerabilities. Participants also discussed priority areas for the work g
20 Apr 2024 - 1 - 474
Sri Lanka is to pay US $ 308 million in surcharges to the International Monetary Fund (IMF) over the next decade (2024-2033), in constituting to 15.8 percent of the total “charges and interests” over the period, according to the United States-based think tank Centre for Economic and Policy Research (CEPR). Over the period, Sri Lanka’s total charges and interests payments to the IMF stand at US $ 1.94 billion. Sri Lanka joined the list of 22 heavi
20 Apr 2024 - 0 - 69
The International Monetary Fund (IMF) projects the Asia and Pacific region to grow by 4.5 percent in 2024—an upward revision of 0.3 percentage points from the projection given in October 2023. With this, Asia would contribute about 60 percent of global growth and the region is projected to grow by 4.3 percent in 2025. While the drivers depend on the country, in China and India, the investments are to contribute disproportionately to growth—much o
20 Apr 2024 - 0 - 92
A total of 5.0 million kilogrammes was on offer this week at the Colombo Tea Auction, which was met with good general demand. The leafy teas were often firm and easier. The Small Leaf liquoring types – Better teas, continued to sell well, whilst the others were often irregular, Forbes and Walker Tea Brokers said. The Ex-Estate offerings were marginally lower to last and totalled 0.7 million kilogrammes. The overall quality of teas, though lower
20 Apr 2024 - 0 - 75
BBC: Oil and gold prices have jumped after US officials said an Israeli missile had struck Iran. Brent crude, the international benchmark, rose to over US $ 90 a barrel after reports emerged of an attack by Israel, before falling back when Iran sought to downplay the significance. Gold briefly came close to a record high before settling below US $ 2,400 an ounce. There are concerns a worsening conflict in the Middle East could disrupt oil supplie
20 Apr 2024 - 0 - 233
Posts 186% growth from last financial year Janashakthi Life recorded a profit before tax of Rs.5.2 billion, along with a growth of 201 percent in profit after tax compared to 2022. This achievement is the highest in the entire history of Janashakthi Life. It underscores the company’s robust financial health and strategic proficiency in navigating market challenges, the entity said in a statement. The key financial indicators, such as a capital
20 Apr 2024 - 0 - 42
Daintee, the confectionary arm of Sunshine Consumer Lanka Limited (SCL), recently marked its 40th anniversary, highlighting four decades of excellence in crafting delicious sweets and confectionery delights for millions of Sri Lankans. The grand celebration, which took place on April 1, 2024, was graced by Sunshine Holdings Deputy Chairman Vish Govindasamy, Sunshine Consumer Lanka Chief Executive Officer Anuruddha Aluvihare, the senior managemen
20 Apr 2024 - 0 - 23
Slight selling interest persisted for yet another day in the secondary market, with limited activities taking place on the belly end of the curve, largely on the investor favourite 2027 and 2028 maturities. Few trades took place between 11.35 percent to 11.38 percent on the 15.01.27 maturity whilst trades were also recorded on the 01.05.27 maturity, at 11.85 percent and 15.09.27 maturity between 11.95 percent and 12.00 percent. Moreover, on t
20 Apr 2024 - 0 - 29
Indices closed in red as a result of price losses in counters such as Hatton National Bank, Melstacorp and Commercial Bank with the turnover crossing Rs 1.4 Bn. High net worth and institutional investor participation was noted in LOLC Finance, Browns Investments and Capital Alliance. Mixed interest was observed in Hatton National Bank, Lanka Milk Foods and CIC Holdings whilst retail interest was noted in Waskaduwa Beach Resort, Softlogic Capital
20 Apr 2024 - 0 - 39
Thaala Bentota Resort by Browns Hotels & Resorts, in collaboration with the Department of Wildlife Conservation, recently unveiled a conservation initiative aimed at safeguarding Bentota’s vital mangrove ecosystem. The programme aims to focus on the ‘Ratha Milla’ plant (Lumnitzeralittorea), a critically endangered true mangrove species native to Sri Lanka. The Ratha Milla mangrove, previously thought to be limited to the Madu River Ramsar until
20 Apr 2024 - 0 - 48
Domino’s Sri Lanka extended its footprint to the Jaffna region with the opening of its newest outlet recently. With a commitment to delivering piping hot pizzas, garlic breadsticks and a range of chicken products, Domino’s brings a truly international experience to Jaffna, setting new benchmarks in culinary delight. As experts in 30-minute delivery, Domino’s ensures that your favourite dishes are swiftly delivered to your doorstep, guaranteeing
Aitken Spence Hotels has once again ranked among the top companies in LMD’s Most Awarded Hall of Fame, solidifying its position as one of the most distinguished entities in Sri Lanka. Acquiring a tally of 52 awards throughout 2023, the company secured the first place in hospitality sector and fourth place among the nation’s most honoured establishments. With an extensive presence spanning Sri Lanka, Maldives, India, and Oman, Aitken Spence Hotel
20 Apr 2024 - 0 - 61
The world’s largest adventure travel company and the largest travel B Corp, Intrepid Travel Chairman and its Co-Founder Darrell Wade casted doubts on Sri Lanka’s 10-year tourism strategy to attract 2.5 million high-end tourists, expressing concerns on the lack of a sustainable programmed focused on such travellers. Wade recently visited Sri Lanka to reaffirm Intrepid’s commitment to Sri Lanka within its 2030 strategy. Intrepid plans to foster gr
19 Apr 2024 - 14 - 2879
Port City Colombo officials expressed frustration over delays in opening the downtown duty-free mall in Colombo.
19 Apr 2024 - 7 - 931
Possible delays in reaching an agreement (in principle) with private bondholders is unlikely to impact the disbursement of the third tranche under IMF’s US$ 3billion bailout package, given negotiations are moving ahead in good faith, Former Governor of Central Bank (CB) and renowned economist, Dr. Indrajit Coomaraswamy said.
19 Apr 2024 - 0 - 40
The secondary market yield curve slightly ticked high, as a slight selling pressure emerged on the belly end of the curve. Accordingly, liquid tenors 2026, 2027 and 2028 saw some activities with 15.05.2026 trading at 11.20 percent. Further, 15.12.2026 hovered between 11.32 percent -11.35 percent whilst on the 2027 tenor, 01.05.2027 and 15.09.2027 recorded transactions at 11.78 percent and 12.01 percent, respectively. Moreover, 15.03.2028 entice
19 Apr 2024 - 0 - 132
REUTERS: The International Monetary Fund (IMF) stands ready to support Sri Lanka’s discussions with international bondholders and will provide a formal assessment after the parties reach a tentative agreement-in-principle
19 Apr 2024 - 0 - 38
The Hayleys Leisure Training Academy, a pioneering initiative by Hayleys Leisure, held its second graduation ceremony recently,
19 Apr 2024 - 0 - 75
Hunas Holdings PLC, a leading player in the investment and hospitality sector, recently announced a strategic partnership with BCC Corporation Japan, a renowned innovator in technology, hospitality and real estate solutions. Together, they
19 Apr 2024 - 0 - 34
Radisson Blu Resort Galle announced the resort has emerged triumphant in clinching the Franchised Hotel of the Year Award at the recently held SEAP – GM Conference of Radisson Hotel Group hosted in Cebu, Philippines.
19 Apr 2024 - 0 - 53
HVA Foods PLC, a member of the George Steuart group, announced the following appointments to its board of directors. Accordingly, Graham Stork has taken up duties as Director and Chief Executive Officer, while Samantha Ranatunga has tak
The No. 1 Bank in the Country, Bank of Ceylon (BOC) yet again set a record during the Avurudu season with over Rs.185 billion worth transactions taking place in BOC’s very own cash recycling machines (CRMs) and ATM terminals.
19 Apr 2024 - 0 - 57
New Unilever Sri Lanka Chairman and CEO Ali Tariq met with Board of Investment (BOI) Chairman Dinesh Weerakkody and the BOI and Port City officials, to discuss the current investment climate, opportunities and the Unilever Sri Lanka operations in the country. Head of Regulatory and External Affairs Harini Rajadasa also participated.
19 Apr 2024 - 0 - 133
Sri Lanka will see two leading telco groups come together with the Telecommunications Regulatory Commission of Sri Lanka (TRCSL) giving the nod for Dialog Axiata and Bharti Airtel to merge. Dialog Axiata PL
19 Apr 2024 - 0 - 115
19 Apr 2024 - 0 - 146
The State-Owned Enterprise Restructuring Unit (SOERU) yesterday said it expects all transactions, other than that of the national carrier to be concluded by August 2024. The timeline for SriLankan Airlines is likely to extend to end September 2024. The SOER
19 Apr 2024 - 0 - 29
The ASPI closed in red as a result of price losses in counters such as Sampath Bank, Lion Brewery and Hatton National Bank with the turnover crossing Rs. 2.2 bn. A similar behaviour was witnessed in the S&P SL20. High net worth and institutional investor participation was noted in National Development Bank, DFCC Bank and Central Finance Company. Mixed interest was observed in Capital Alliance, Lanka Milk Foods and Hemas Holdings whilst retail i
22 Apr 2024