Consumer prices contract to 5.9% in February

Consumer prices in February slowed down marginally from the previous month and the previous year, data from the Departmen

Bond market remains sluggish

The secondary market yield curve remained broadly unchanged as investors adopted a cautious stance, awaiting clarity on the direction of interest rates ahead of the Bills and Bond auction scheduled for March 2024. Amongst the

Inflation slows down to 5.9% in February

The Colombo Consumer Price Index (CCPI), the official’s preferred inflation gauge deceased to 5.9 percent in February from the 6.4 percent recorded in January.

SLTDA provides extension for licence renewal

Tourism sector stakeholders are given an extension renewing their licenses with the Sri Lanka Tourism Development Authority (SLTDA).

Government to empower women to drive economy

Sri Lanka’s women entrepreneurs, who have for long been held back, will soon be able to take the front seat as President Ranil Wickremesinghe this week pledged more would be done to allow this segment to increase their contribution to the national economy.

Elephant House to storm Indian shelves

One of Sri Lanka’s most popular lines of beverages will soon be on the shelves of India, with Reliance Consumer Products Limited (RCPL) partnering with Elephant House to manufacture, market, distribute and sell beverages.

Treasury bill auction partially accepted as yields edge up across board

The Central Bank conducted its weekly Treasury bill auction yesterday and accepted a total of Rs.104.3 billion from the offered Rs.122.5 billion. The auction yields also edged up across the board, with 91-day maturity yield edging up by nine basis points (bps) to 9.87 percent, 182-day maturity yield inclining by nine bps to 9.95 percent and 364-day maturity yield up by three bps to 10.05 percent. Furthermore, yesterday’s auction depicted a reve

Sri Lanka expects “smooth” second IMF review

The government yesterday expressed confidence in the upcoming International Monetary Fund (IMF) review going “smooth”. Despite the concerns about the progress of debt restructuring with the private bondholders still remaining, Sri Lanka is certain that it will be able to successfully implement the reform agenda. “The second review will commence from March 7 and we are very confident that it will be a smoother review than the first review,” Financ

UNIDO urges joint action for Ceylon Cinnamon GI establishment

The United Nations Industrial Development Organisation (UNIDO) this week stressed the need for concerted efforts to fully implement the comprehensive set of recommendations for the establishment of Ceylon Cinnamon Geographical Indication (CCGI) in Sri Lanka and its promotion internationally. As of February 2, 2022, the European Union officially recognised Ceylon Cinnamon as a Protected Geographical Indication for its exclusive quality stemming fr

TRCSL to roll out commercial 5G services in May

The Telecommunications Regulatory Commission of Sri Lanka (TRCSL) is eyeing to commence the much-awaited spectrum assignment for the 5G rollout in early May this year, by offering nine spectrum lots for a period of 10 years. The TRCSL recently sought the stakeholder consultation for spectrum assignment for advance broadband service, including 5G, recently. As the next step, the TRCSL announced a formal written Q&A on the spectrum assignment pr

CSE and USAID’s Issuer Forum promotes capital raising for Jaffna SMEs

The Colombo Stock Exchange (CSE) organized a forum titled “Redefining the Trajectory of Your Business” in collaboration with the U.S. Agency for International Development (USAID) CATALYZE Sri Lanka Private Sector Development (PSD) Activity. Held on February 12th at North Gate Hotel - Jaffna, the event aimed to provide small and medium enterprises (SMEs) with crucial insights into capital-raising opportunities available at the CSE, specifically t

Euromoney recognizes HNB Trade Finance for 5th year

HNB PLC secured four awards at the Euromoney Awards for Excellence in 2024 recently. Euromoney bestowed HNB with the titles of Best Market Leader in Trade Finance Services and Best Service Provider in Trade Finance – both overall and domestic. Having been recognized consistently for the segment, the remarkable achievements consolidates HNB’s position as the only homegrown Sri Lankan bank to be recognized on a global scale. “Ensuring Sri Lanka’s

Senior Citi official visits Sri Lanka

The Citi Indian Subcontinent Sub-Cluster & Banking Head and India CEO, Ashu Khullar recently visited Sri Lanka. During the visit Ashu met with regulators, key clients and other stakeholders. He also spent time with Citi Sri Lanka management team and employees. During the visit Ashu discussed with stakeholders on Citi’s refreshed global strategy and explored how Citi in Sri Lanka can further support our valued clients through financial solutions,

NDB offers amazing deals for Leap Day

In celebration of the rare occurrence of Leap Day, NDB Bank presents extraordinary offers for its valued cardholders. Aptly named “NDB Leap Day Deals,” this exclusive opportunity allows cardholders to seize 0 percent installment plans for an extended period of 29 months on a diverse range of purchases. Today (29th), cardholders can indulge in this once-in-4-years offer, applying the 0 percent installment plans to a myriad of categories, including

Vallibel Finance opens branch in Mahiyanganaya

Expanding its outreach across Sri Lanka, Vallibel Finance opened its latest branch in the Mahiyanganaya recently. Offering a diverse product mix aimed at developing the financial needs of Mahiyanganaya. Vallibel Finance established this new fully-fledged branch with spacious and modern facilities together with a team of highly dedicated customer care officials. Managing Director of Vallibel Finance Jayantha Rangamuwa and the management graced th

Softlogic Life posts impressive Rs.26bn GWP for FY2023

Softlogic Life has recorded robust FY23 performance, posting Gross Written Premium (GWP) of Rs. 26.3 billion for the period ended 31st December 2023, with an increase in top-line growth of 14 percent versus the past year and compared to industry growth of 12 percent. The company has stood firmly with its policyholders in the face of challenging macroeconomic conditions with a firm commitment to continually improve customer benefits and this comm

Understanding tax recovery in Sri Lanka

Aiming to demystify the intricacies of the tax recovery process in Sri Lanka, a webinar by KPMG Academy in Sri Lanka delved into the nuances of taxes in default, details of the notice of demanding payment issued by the CGIR, various enforcement actions that the Inland Revenue Department (IRD) may impose for collection of taxes in default as well as the liability and obligations of authorized representatives of an organisation. While the objectiv

Enhancing trade with Sri Lanka-Thailand FTA

Thailand became the second Regional Comprehensive Economic Partnership economy to sign a free trade agreement...

Customer experience enhanced at CEAT shop-in-shop outlets

The three new CEAT shop-in-shop (SIS) outlets are designed to drive brand premiumisation and enhance customer experience....

Kirulapone gets Laugfs Eco emission testing facility

Laugfs Eco Sri Limited, a subsidiary of Laugfs Holdings and a leading player in the vehicle emission testing sector, recently announced...

Entrepreneurs enticed at SLT-Mobitel Innovation Day

Showcasing creativity and forward-thinking, SLT-Mobitel successfully hosted the first Innovation Day 2023, supporting ....

DIMO CARPITAL advises luxury vehicle buyers, sellers

DIMO, a long-standing trailblazer in Sri Lanka’s mobility industry, launched CARPITAL Advisory Services by DIMO CERTIFIED, a complimentary....

Andre new AMW Group MD

Associated Motorways (Private) Limited (AMW), a key player in Sri Lanka’s automotive industry, announced Andre Bonthuys as its new Group....

Siddhalepa Liv-Pro wins Int’l Innovation Award

The Hettigoda Industries announced that Siddhalepa Liv-Pro, its ayurvedic food supplement containing heenbovitiya ...

Shippers worry as freight rates surge 300%

Sri Lankan businesses are grappling with higher costs as sea freight rates have skyrocketed by 300 percent. Raising alarm over recent...

Fresh relief for businesses struggling with loan repayments

Businesses struggling to repay loans can now let out a sigh of relief as a Cabinet decision has been announced that prevents banks from opting for aggressive recovery measures.

Cartoon 28.02.2024

Cartoon 28.02.2024

HNB Finance appoints Dr. Samarasinghe to board

HNB Finance PLC announced the appointment of Dr. Prasad Samarasinghe to its Board of Directors as a Non-Independent...

ADB boosts SMEs with Rs. 20 bn support 

The local SME sector will receive a fresh boost to improve and expand operations with the Asian Development Bank (ADB) agreeing ...

Spice sector poised to become US$ 1bn industry

Plans are afoot to uplift the island nation’s spice sector to become a US$ 1 billion industry in five years, Sri Lanka’s Spice ...