FIU and Excise Department join forces against financial crimes

Sri Lanka’s Financial Intelligence Unit (FIU) and the Excise Department signed a Memorandum of Understanding (MOU) to tackle....

PGP Glass records lower revenues in December quarter

PGP Glass Ceylon PLC reported lower revenues and profits in the three months ended in December 2023, in a sign that the....

Asia Capital sues Belluna Co Japan over unpaid dues

In a new turn of events, Asia Capital Plc has gone to court seeking redress over the monies owed by the Belluna Co. Ltd. of Japan....

JAICA renews support for BIA terminal construction

Japan International Cooperation Agency (JICA) is to support the construction of the second terminal of Bandaranaike International Airport...

Stalled due to recission

The construction of the second terminal of BIA, which started in 2020 at a cost of Rs.145 billion, under the JICA soft loan...

SriLankan Cargo with cargo.one to digitalise sales

SriLankan Cargo and cargo.one unveiled an exciting global partnership to bring the Sri Lankan national carrier’s cargo capacity...

Emirates SkyCargo honoured at STAT Times Awards

Emirates SkyCargo was named International Airline of the Year at the STAT Times International Awards for Excellence in Air...

Spiralling ocean freight rates from Far East to US may have peaked

The Red Sea crisis sent ocean freight rates from the Far East to US spiralling by more than 150 percent but there appears...

Arkia Airlines to operate direct flights to Colombo from March

Sri Lanka will see an increase in tourists from Israel, with Arkia Airlines set to operate direct flight to Colombo from March. Arkia...

World Shipping Council proposes levy on eco-unfriendly shipowners

The World Shipping Council (WSC) has proposed imposing additional environmental charges on shipping companies. The idea...

Hambantota Port-Thailand Ports Authority strengthen bond

Given Sri Lanka’s recent interest in Thailand for trade and commerce, the officials from Hambantota International Port Group ...

HNB demonstrates resilience amidst economic challenges

Hatton National Bank PLC (HNB) kicked off its financial year with optimism, hoping that the worst of the financial crisis was...

ComBank’s ‘Goldnet’ payment system marks 16 years

Commercial Bank of Ceylon recently celebrated 16 years of successful operations of the ComBank Goldnet system – the bank’s....

ComBank ‘Pita Rata Wasi’ promo offers Rs.4mn

Cash rewards totalling Rs.4 million are to be showered on Commercial Bank’s remittance customers in an early countdown....

Dialog’s ‘Genie Business’ leads Sri Lanka’s UPI debut

Dialog’s fintech solution, Genie Business, took centre stage at the inauguration launch of India’s Unified Payment Interface ....

Hayleys Aventura-Invertek enhance industries’ energy efficiency

Leading industrial solutions provider Hayleys Aventura, in partnership with global leader Invertek, renowned for cutting-edge....

People’s Bank relocates Naiwala Service Centre

People’s Bank Naiwala Service Centre was ceremoniously declared opened at a new and enhanced location recently. The relocated service...

People’s Bank, APB 34th Convention’s Gold Partner

People’s Bank served as the Gold Partner for the highly successful 34th Annual Convention hosted by the Association of Professional....

TikTok ignites creative expression on #ValentinesDay

As Cupid’s arrow takes aim, TikTok stands at the forefront of a digital love fest, bringing the users together to celebrate #ValentinesDay in style. From versatile features to a diverse array of content, TikTok’s commitment to promoting a safe and harmonious online community creates an ideal space for content creators, including couples, to thrive. The platform also allows the users to effortlessly navigate and explore a variety of rich content,

SLTPB sets sights on global stage with Rs.5.03bn

The Sri Lanka Tourism Promotion Bureau (SLTPB) has announced plans to participate in all major international tourism events and conduct several road shows this year, with a budget of Rs.5.03 billion allocated for these activities. SLTPB Managing Director Nalin Perera stated that Sri Lanka aims to attract 2.3 million tourists this year, expecting to generate Rs.7.18 billion in revenue. This revenue target includes Rs.2.08 billion from the Tourism

Government vows relief as it presses ahead on reforms

In a bid to accelerate the revival process, the government affirmed yesterday that it is on track to implement the long-neglected economic reforms crucial for the country’s progress. However, despite the stabilisation of the economy, the people’s income has not kept pace with the rising cost of living, President’s Senior Adviser on National Security and Chief of Presidential Staff Sagala Ratnayaka said. He assured that the government is actively

Market closes for week on dull note

The secondary market yield curve remained broadly unchanged yesterday, as the investors took a breather following an action-packed week of auctions. Accordingly, activities took a subdued sentiment, leading to thin volumes yesterday. However, in the midst of limited activities, the 2028 tenures enticed trades at 12.05 percent. On the external side, the Sri Lankan rupee continued to appreciate against the greenback, as it closed at Rs.312.9 for t

Ex-Goldman Sachs analyst jailed for insider dealing

CNN: A former Goldman Sachs analyst was sentenced to 22 months in prison yesterday for using inside information to buy shares in listed companies and make more than 140,000 pounds (US $ 175,650). Mohammed Zina, 35, was employed by Goldman Sachs International, a subsidiary of the bank, in London. Prosecutors said he had used confidential information to buy shares in six companies between July 2016 and December 2017, including Arm with knowledge of

Japan-funded ‘Climate Promise’ project empowers farmers

Sri Lanka’s farming community will now have access to crisis relief support with the United Nations Development Programme’s (UNDP) Climate Promise initiatives, funded by Japan, unleashing a green revolution in the North. In a significant development for the renewable energy sector, the Climate Promise project, backed by the Japan Supplementary Budget, celebrated the handover of renewable energy technologies to farmer organisations in Sri Lanka’s

‘Soft Skills for Effective Leadership’ session at EDEX Kandy today

The EDEX Kandy career fair will today feature the ‘Soft Skills for Effective Leadership’ session by senior corporate personality and Royal Colombo Golf Club Executive Consultant Sunil Dissanayake. The session will be among the guest talks by several prominent corporate personalities. Dissanayake will speak on 20 key soft skills that he has identified, with his 50-year corporate career, holding senior positions in significant organisations in Sri

Colombo Tea Auction offering marginally up

The Colombo Tea Auction this week saw 4.83 million kilogrammes of tea on offer, where 2.20 million kilogrammes were Low Grown Main Grades and 1.66 million kilogrammes were High and Mid Grown Main Grades. The weekly report by Asia Siyaka Commodities showed that in the Leafy and Semi Leafy catalogues, the select best BOP1/OP1s were generally firm, whilst the best varieties maintained. However, the improved below best varieties gained substantially

PMI data shows economic activities continue humming

In a sign of sustained momentum, activities in both manufacturing and services sectors have advanced as orders picked up once again for textiles and apparel sector while the record tourist arrivals and easing interest rates are adding further fuel to the services sector of the economy.   According to the Purchasing Managers’ Index (PMI) data for January released by the Central Bank, the manufacturing sector recorded 55.6 index points from an inde

KPMG audit finds losses at CPC and CPSTL due to data manipulation

KPMG’s forensic audit on irregularities at Ceylon Petroleum Corporation (CPC) and Ceylon Petroleum Storage Terminals (CPSTL) has revealed substantial losses attributed due to alterations and deletions in SAP data related to stock holdings. In response to a complaint filed by the Power and Energy Minister with the Criminal Investigations Department (CID) in August 2022, a forensic audit was initiated. The major findings of the audit, conducted by

Sri Lanka’s economic revival hinges on IMF deal: CB

Sri Lanka’s economic recovery is gaining momentum, with the continuation of the International Monetary Fund (IMF) Extended Fund Facility (EFF) arrangement and progress on structural reforms being key factors, the Central Bank announced. However, the financial sector regulator warned that any disruption to this programme would incur significant economic costs, including growth setbacks, loss of confidence, and prolonged negative investor sentiment

EDEX Kandy to feature ’Softskills for Effective Leadership’ by Sunil Dissanayake

EDEX Kandy career fair to feature ’Softskills for Effective Leadership’ by senior corporate personality & Executive Consultant, Royal Colombo Golf Club Sunil Dissanayake tomorrow.