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 ...

Activities take lacklustre tone ahead of weekly auction

Secondary market yield curve slightly adjusted downwards following yesterday’s session despite activities being subdued while volumes...

Buying appetite continues ahead of bill auction

The secondary market yield curve continued to display buying sentiment at the short-end during the day, echoing the trend from the last session, as the investors boarded the sidelines ahead of the Rs.122.5 billion worth bill auction scheduled for February 28, 2024. Interest was centered on liquid maturities, where 01.02.26, 01.06.26, 01.08.26 and 15.01.27 traded between 10.80 percent and 11.10 percent, whilst 15.09.27 and 01.05.27 hovered in the

Chamikara new Head of StanChart’s Consumer, Private and Business Banking

Standard Chartered has appointed Chamikara Wijesinghe as Head of Consumer, Private and Business Banking (CPBB) in Sri Lanka, effective February 5, 2024. Commenting on the new appointment, Bingumal Thewarathanthri, CEO of Standard Chartered Sri Lanka, stated, “We are pleased to announce the appointment of Chamikara Wijesinghe as the Head of Consumer Private and Business Banking for Sri Lanka. His experience and expertise in consumer banking make

PAYable completes Rs. 80 bn worth transactions

PAYable Pvt Ltd, Sri Lanka’s leading non-bank digital payment services provider, reported robust performance in its 10-year journey with over Rs. 80 billion in transactions processed.

People’s Bank empowers women entrepreneurs

In a strategic collaboration with Good Market, People’s Bank recently conducted a Special Training Programme for women entrepreneurs at the People’s Bank Staff Training College in Colombo 05. Under this initiative, 12 entrepreneurs were selected from a pool of 30 participants within the western province and the training was conducted by Achala Samaradiwakara, Co-Founder of Good Market. The objective of the training was to focuson aligning their

HNBA welcomes Rimoe Saldinas as Non-Independent Non-Executive Director

HNB Assurance PLC has announced the appointment of Rimoe Saldinas Non-Independent Non-Executive Director to its Board with effect from 19February 2024. Rimoe Saldin is a Fellow of the Institute of Chartered Accountants of Sri Lanka and an Associate of Institute of Chartered Accountants of England and Wales. He is also a Fellow of the Chartered Institute of Management Accountants in UK and a Certified Management Accountant, Australia. He is an alu

Hayleys Fabric receives Eco Label Sri Lanka certification

Hayleys Fabric PLC was recently awarded the Eco Label Sri Lanka certification for its weft knitted fabrics under the Textile & Apparel category. The latest in a long line of sustainability accreditations, this certification recognizes Hayleys Fabric’s commitment to sustainable practices and environmentally-friendly manufacturing processes. The Eco Label Sri Lanka certification grants Hayleys Fabric the right to display the ‘ECO LABEL-SRI LANKA’

Vietnamese delegation to explore opportunities in agriculture

The Ceylon Chamber of Commerce hosted a high-level delegation from the Ministry of Agriculture and Rural Development of Vietnam recently. Organized in association with the Sri Lanka – Greater Mekong Business Council and the Embassy of Vietnam in Sri Lanka, the delegation led by Le Minh Hoan, Minister of Agriculture and Rural Development of Vietnam, comprised high-ranking officials of the Ministry and prominent entrepreneurs of Vietnam’s agricultu

Rhino Roofing receives SLIA award

RBS cement panels from Rhino Roofing Products Limited was bestowed with the ‘Excellence Award’ from the Sri Lanka Institute of Architects (SLIA) as part of the Annual Product Awards 2024. The awards was received by Jude Pullenayegam (Head of Marketing - Rhino Roofing Products Limited), Danushka Ishan (Sales Manager, RBS), Sameera Lakmal (Manager R&D - Rhino Roofing Products Limited) and Pasan Malinga (Quality Assurance Manager - Rhino Roofing Pr

Rocell unveils first live shower regional experience

Royal Ceramics Lanka PLC (Rocell) has collaborated with Hansgrohe & AXOR, the world-renowned German brands, synonymous with premium showers, and bathroom accessories. By solidifying its design leadership through this groundbreaking partnership, Rocell brings the pinnacle of bathing experiences to the discerning customers of Sri Lanka. In a first-of-its-kind initiative in South Asia, Rocell proudly houses the “Experience Centre for Hansgrohe a

Daily Mirror bags best supplement award at ‘Architect 2024’

The Daily Mirror has won the first place (Award of Excellence) for the best designed English newspaper supplement of the inauguration of Annual Sessions organized by Sri Lanka Institute of Architects in line with the Architect 2024 exhibition. Being Sri Lanka’s most popular English daily newspaper, the Daily Mirror bagged the award for the third year. “Architect 2024” is the annual architecture trade exhibition since its inception has transitione