Fitch affirms Mahindra Ideal Finance at ‘AA-(lka)’

Fitch Ratings has affirmed Sri Lanka-based Mahindra Ideal Finance Limited’s (MID) National Long-Term rating of ‘AA-(lka)...

AMW Capital Leasing rating affirmed at ‘BBB(lka)’

Fitch Ratings affirmed AMW Capital Leasing And Finance PLC’s (AMWCL) National Long-Term Rating at ‘BBB(lka)’ and said the outlook...

Calls to suspend Red Sea shipping after deadly Houthi attack

The international community, including governments and the shipping industry, has come together in its universal condemnation....

DFCC Bank’s structured housing loans offer flexibility

Understanding its customers’ unique and diverse needs, DFCC Bank has introduced various repayment options for DFCC Housing...

Transforming smiles into sales

A vendor in the streets of Maradana stands with a three-wheeled cart brimming with an assortment of small, inexpensive....

Workers’ remittances surge in February to US$ 476.2 mn

Remittances from Sri Lankans working abroad surged in February, surpassing last year’s figures. Although slightly lower than the previous....

February tourism earnings record US$ 346 mn

Sri Lanka’s tourism sector continues to move towards the positive trajectory as it fetches higher earnings from international travellers...

Sri Lanka’s Santani Wellness Resorts to expand to Oman

Sri Lankan retreat brand Santani Wellness Resorts has joined forces with the Oman Tourism Development Company...

March arrivals cross 40,000 mark in six days

Tourist arrivals for the first six days of March crossed the 40,000 mark. Provisional data from the Sri Lanka Tourism...

New transactions registry to boost financing for SMEs

Small and medium enterprises (SMEs) in Sri Lanka are set to benefit from the newly established Secured Transactions...

Opposition should meet bond holders: Harsha

Samagi Jana Balawegaya (SJB) MP Harsha de Silva yesterday said he only called for a meeting with bond holders to discuss the external...

Sri Lanka explores mining opportunities in Central African Republic

High Commissioner of Sri Lanka to Kenya, Kana Kananathan, engaged in a significant meeting with the President Faustin-Archange Touadéra of the Central African Republic at his country residence recently .

International Women’s Day 2024: Inspiring inclusion

In the never ending search for prosperous economies and a thriving planet, achieving gender equality and women’s wellbeing in every sphere of life are paramount.  Yet, a major challenge looms: a projected US $ 360 billion annual deficit in gender equality efforts by 2030. Shedding light on this issue is the International Women’s Day (IWD), with the 2024 campaign theme being ‘Inspire Inclusion’. The overarching theme is ‘Invest in women: Accelerat

Prima KottuMee-Treats partner Battle of Blues

As the excitement peaks in anticipation of the Battle of the Blues, Prima KottuMee and Prima Treats prepare to take on the role of ‘Specialty Food Partner’ for the 15th year running.

MAS holds Eco Go Beyond Awards Ceremony

MAS Holdings, South Asia’s leading apparel tech company, reaffirmed its dedication to sustainability education with the completion of the Eco Go Beyond Sustainable Schools Programme 2023 Awards Ceremony, held at MAS Athena in Thulhiriya, re

Oceanswell-Greenpeace South Asia conduct cetacean surveys

Greenpeace South Asia and Sri Lankan marine conservation organisation Oceanswell have just returned to Colombo following the successful completion of cetacean visual and acoustic surveys in the high seas of the Indian Ocean, aboard the Greenpeace flagship Rainbow Warrior. The scientific survey wa

Lumala introduces Eco Hauler e-bike carts

In a sustained commitment spanning over three decades, City Cycle Industries Manufacturing (Pvt.) Ltd, better known as Lumala, has consistently led the eco-friendly innovation charge in Sri Lanka’s bicycle industry. A testament to its innovation an

IMRA honours for outstanding women

The All Ceylon Muslim Women’s Association (ACMWA), a venerable organisation with a 71-year legacy, proudly hosted the inaugural IMRA Awards to recognise the exceptional accomplishments of Muslim women in Sri Lanka. Held on March 3 at S

Tea auction sees improved offering, demand and prices

Overall offering at the Colombo Tea Auction were marginally higher this week and totalled 5.2 M/Kgs. According to Forbes and Walk

Ceylon Curry Club showcases culinary brilliance at Ambani family pre-wedding

Sri Lanka’s culinary expertise took center stage last week with Ceylon Curry Club catering at one of the most anticipated events of the year—the pre-wedding celebrations of Anant Ambani and Radhika Merchant. Ceylon Cur

EFL 3PL expands to India with US$ 5 mn warehousing facility

EFL 3PL, a subsidiary of EFL Global announced this week the launch of its flagship Grade A warehousing facility in Bhiwandi region of Mumbai. This strategic expansi

China registers jump in foreign trade

CNN: China registered a surprise jump in foreign trade at the start of the year, partly because of strong demand from Russia, India and emerging markets in Africa and Latin America. Exports from the wo

IMF second review kicks off on a positive note

In kicking off the second review under the Extended Fund Facility (EFF) programme yesterday, IMF highlighted that Sri Lanka’s economy has started to turn around with policy decisions taken under the programme translating into tangible outcomes. In the opening mee

Experts renew call for increased focus on global trade

For Sri Lanka to remain competitive in the global market, stronger efforts are needed to explore and leverage agreements strategically to be competitive with countries such as Vietnam, Thaila

Posts Department aims Rs.21bn revenue for 2024

Sri Lanka’s Posts Department said it is hoping to record a revenue of Rs.21 billion for 2024 and operate as a self-sustaining institution that is independent of Treasury funds

Salary hike exaggerated to erode independence: Dr. Weerasinghe

The recent uproar over the Central Bank’s salary increases has caught widespread attention and according to Governor Dr. Nandalal Weerasinghe, this controversy is a deliberate attempt to undermine the institution’s autonomy.

Low-level teacher capacity key barrier for ed-tech implementation

The low level of teacher capacity along with reduced affordability of hardware remains major barriers towards successfully implementing ed-tech in Sri Lanka, a recent Institute of Policy Studies (IPS) study revealed.

Auction yields take upward turn across board

The secondary market displayed buying interest during the early hours of trading, primarily at the short-end of the curve, with short tenures, including 01.02.26, 01.06.26 and 01.08.26 trading within the range of 10.60 percent-10.80 percent, whilst the bonds maturing on 01.05.27 and 15.09.27 traded between 11.70 percent and 11.80 percent. Subsequently, following yesterday’s weekly Treasury bill (T-bill) auction, a shift in market sentiment was

Sri Lanka’s second IMF review kicks off today

The International Monetary Fund (IMF) will kick off the second review under the Extended Fund Facility (EFF) programme today. According to Finance State Minister Shehan Semasinghe, the outcome of the review will be largely positive. “Nobody should doubt the release of the third tranche. The second review is going to be better than the first. We are confident about that. Sri Lanka has achieved much of the progress required and fulfilled majority

Lower interest rates fuel recovery in constructions

Backed by the current lower interest rate regime, Sri Lanka’s construction firms are expected to see considerable relief on the borrowing costs, aiding a smoother financing for the ongoing projects, according to First Capital Research (FCR). In an investor note, FCR highlighted that the interest rate has come down in an accelerated downward trajectory. As of February 22, this year, the average weighted lending rate came down to 11.50 percent, fro