Cloé Café opens flagship outlet in Nawala

Cloé Café, an Australian coffee chain recently opened its flagship outlet in Nawala. The grand opening ceremony was held under the patronage of Deputy High Commissioner for Australia in Sri Lanka Lalita Kapoor and several other guests. With a tagline of “An Australian roast where every cup tells a story,” Cloé Café brings the rich heritage of Australian coffee culture to the vibrant streets of Sri Lanka. As a subsidiary of WishQue, a leading e-

Agripreneurs’ Forum partners USAID to conduct Agcelerator Bootcamp

In an effort to support young entrepreneurs in agriculture, the Sri Lanka Agripreneurs’ Forum (SLAF) is collaborating with the United States Agency for International Development (USAID) to organize the Agcelerator Bootcamp. The Agcelerator Bootcamp, hosted by SLAF and supported by USAID Catalyze Sri Lanka Private Sector Development (PSD) Activity, is a training programme aimed at founders of agricultural startups, small and medium-sized agricultu

Legal cigarette market contracts by 19% amid surge in demand for illicit alternatives

In 2023, Sri Lanka witnessed a significant 19 percent year-on-year (YoY) decrease in legal cigarette consumption, representing less than a quarter of the combustible tobacco market share. This decline is attributed to substantial tax increases, which have spurred a surge in demand for illicit cigarettes and less regulated beedi, as reported by Ceylon Tobacco Company (CTC). The market share of legal cigarettes fell to 24 percent from 2022’s 30 per

Tesla cuts prices in major markets as sales fall

BBC: Tesla has cut its prices again in a number of major markets - including the US, China and Germany - as the electric car giant run by multi-billionaire Elon Musk faces falling sales. The move comes after it reported a sharp fall in its global vehicle deliveries in the first three months of this year. A price war has been intensifying between electric vehicle (EV) makers, with particularly fierce competition coming from Chinese firms. Tesla is

Telin, Dialog Axiata join hands to manage international voice and SMS termination

Dialog Axiata PLC and Telin, the international arm of Telkom Indonesia, have inked a new master service agreement (MSA), where the latter will exclusively provide managed services for international A2P SMS traffic and international voice termination traffic to Dialog. The agreement aims to monetise international traffic while extending unparalleled convenience, enhanced security, global coverage and consistent service quality to customers, Dialo

State revenue surpasses 1Q target by 6%

State revenue surpassed the target set for the first quarter of the year ended in March by 6 percent to Rs.834 billion, Finance State Minister Ranjith Siyambalapitiya said. While the expected revenue target for 1Q24 was Rs.787 billion, the government expects a revenue collection of Rs.4,106 billion for the whole of 2024. In a press statement, Siyambalapitiya said that it has been possible to exceed the expected state revenue in the first quarter

Norges Bank’s Sri Lankan equity portfolio rebounds in 2023

Norges Bank Investment Management, which manages Norway’s US $ 1.5 trillion Government Pension Fund Global, saw its equity investments in Sri Lanka rebounding in 2023, driven by the appreciation of the Sri Lankan rupee and market performances during the year. According to the official website of Norges Bank Investment Management, the fund’s equity portfolio in Sri Lanka rebounded to US $ 56.22 million at the end of 2023, from US $ 35.49 million

Boost for tourism with Shree Ramayan Trails launch

Sri Lanka’s tourism industry is anticipated to receive a boost from Indian pilgrims with the official launch of the Shree Ramayan Trails project.

Embracing the rhythm of tradition and spirit of compassion!

International and local visitors can experience the fiery tradition and compassionate spirit as Sri Lanka unveils ‘Rhythms of Sri Lanka,’....

Locals to hold back gold purchases as prices surge: SLGJA

Sri Lanka will see consumers hold back gold purchases as prices of the precious metal continue to expand globally....

Sri Lanka needs national MSME policy backed by innovative bureaucracy

Sri Lanka needs a national micro, small and medium-scale enterprises (MSME) policy backed by an innovative bureaucracy...

Lanka IOC PLC 4Q revenue up 9.3% YoY

Setting the stage for a busy earnings season in the coming weeks, Lanka IOC PLC (LIOC) last week reported higher....

Special programme needed to rebuild MSMEs amid parate execution halt: Sajith Premadasa

Opposition Leader Sajith Premadasa yesterday called on the government to develop a targeted programme to assist....

Five-year National AI Strategy to be unveiled in May

Sri Lanka is set to unveil a five-year National Artificial Intelligence (AI) Strategy in May to drive innovation, economic....

Maldivian expresses keenness in strengthening Colombo route

Maldivian, the national airline of the Maldives, is looking to strengthen its Colombo route, with the introduction of two weekly...

SriLankan Airlines announces flight path modification to European destinations

National carrier SriLankan Airlines announced over the weekends that it is modifying its flight paths for the European...

French Ambassador on a familiarisation tour at HIP

Ambassador for France in Sri Lanka Jean-Francois Pactet visited the Hambantota International Port (HIP) recently, for a tour....

Trade facilitation … who exactly are we fooling?

Since the year 1997, I have been involved in a countless number of committees of national trade facilitation. The company....

Dubai airport: Full schedule resumes after flooding chaos

Dubai’s major airlines say they have resumed a full flight schedule after torrential rain hit the United Arab Emirates....

DFCC Junior with Thyaga.lk debuts e-gift vouchers

DFCC Junior - the exciting children’s savings account from DFCC Bank – recently launched e-gift vouchers as part of its benefits scheme....

ComBank Digital links Commerce Dept. for online payments with LankaPay

Commercial Bank of Ceylon announced the integration of the Commerce Department with ComBank Digital, enabling....

Seylan Cards-British Council offer 0% instalment plans

Seylan Cards reaffirms its dedication to empowering customers through education by announcing its partnership with the British....

Amana Bank marks World Water Day with Colombo University

To mark the World Water Day, Amana Bank partnered with the Environment Committee of the Faculty of Arts at the University....

People’s Bank opens Poththapitiya Service Centre ATM

People’s Bank recently declared open an ATM at the Poththapitiya Service Centre. Through this ATM, the customers can withdraw ....

Jailed bankers ruling could hit key loan rate, warn founders

The founders of a key European interest rate benchmark have said its accuracy could be affected as a result of a “deep misunderstanding”....

NDB Bank achieves EDGE certification again

National Development Bank PLC (NDB), a leading financial institution committed to promoting gender equality and diversity, announced....

Market lending rate falls to two-year low as economy readies to take off

The often watched market lending rate, which guides the rest of the rates on loans to small businesses to mortgages to consumers, touched a two-year low last week continuing its descent.

Gold prices surge to all-time high

Gold prices across the globe are surging at all-time high prices amid escalating geopolitical tensions in the Middle East.

IMF gives thumbs up for SL’s progress but cautions road ahead still difficult

The International Monetary Fund (IMF) this week commended Sri Lanka for going forward and being successful to a great extent to implement the “ambitious” programme; however, it cautioned that the road ahead is till bumpy. IMF Director Asia and Pacific Department Krishna Srinivasan asserted that the programme is bearing fruit. When Sri Lanka embarked on this adjustment programme, it had its back to the wall but now signs of early recovery are see

Global Sovereign Debt Roundtable advances debt sustainability discussions

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