Commonwealth Enterprise chief in Colombo next week

Sri Lanka’s private sector and government are to get fresh insights from a chief of a Commonwealth trade and investment organisation next week besides opportunities to expand businesses across the 56 Member States of the Commonwealth.

Sri Lanka to host first-ever Chinese marathon in May

Sri Lanka will host the first-ever Chinese marathon this May, where over 2000-3000 Chinese athletes will arrive under the ‘Ni Hao Zhong Guo’ programme, Sri Lanka Institute of Tourism and Hotel Management Chairman Shirantha Peiris announced.

Buddhist trail in the works to boost tourism

Tourism authorities are in the process of creating a Buddhist trail in Sri Lanka, a fresh effort towards luring religious travellers.

Ambitious plans underway to make SL a ‘happening’ tourist destination

Sri Lanka’s tourism sector is gearing up for a major transformation, as the authorities unveil an ambitious plan to make the country one of the world’s most dynamic and sought-after destinations.

PLC records 30.8% PAT growth in 3Q/24

People’s Leasing & Finance PLC (PLC), a non-banking financial services provider in Sri Lanka, reported improved financial performance for the third quarter of fiscal year 2023/24, indicating positive growth and stability amidst a competitive

NDB bags Silver, Bronze at TAGS Awards

National Development Bank PLC (NDB) proudly emerged victorious at TAGS Awards 2023, organised by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka), securing the Silver award in the Private Bank category for its out

Hayleys Solar clinches SLIM Brand Excellence Awards

Hayleys Solar, the renewable energy arm of Hayleys Fentons Limited, proudly clinched two coveted awards at the prestigious Brand Excellence Awards, organised by the Sri Lanka Institute of Marketing (SLIM), to honour exceptional ma

GRI RoadEx TR100 tyre launched

Perera Tyre Service (Pvt.) Ltd and Global Rubber Industries (GRI) launched 1000x20 GRI RoadEx TR100 tyre, which is a 100 percent Sri Lankan technological tyre for trucks and buses.

e-Shift 3Ws at Anantara Peace Haven Tangalle

In a collaboration aimed at boosting sustainable mobility solutions in the tourism industry in Sri Lanka, Citizens Development Business Finance PLC (CDB) and VEGA Innovations partnered Anantara Peace Haven Tangalle Resort to use e-Shift electric three-wheelers in its daily operations. Seven

Fems wins prestigious local, international awards

Fems, the socially responsible feminine hygiene care brand by Hemas Consumer Brands, was bestowed with an array of highly-regarded excellence awards during 2023, emerging as one of the best product brands in the country.

Sri Lankan exporters optimistic over 2024 prospects -CCC

After three years of uncertainty, Sri Lankan exporters sounded upbeat on the prospects for 2024 despite a challenging global outlook.

Fitch rates ComBank’s Basel III subordinated debentures ‘BBB+(EXP)(lka)’

Fitch Ratings has assigned Commercial Bank of Ceylon PLC’s proposed Sri Lankan rupee-denominated Basel III-compliant subordinated debentures of up to Rs. 20 billion an expected National Long-Term Rating of ‘BBB+(EXP)(lka)’.

Secondary market pivots to lacklustre sentiment

The secondary market reversed its vigorous trend of investor interaction from the past week and displayed lacklustre sentiment throughou

Sampath Bank third quarter profits impacted by higher taxes

Kicking off the December quarter banking earnings, Sampath Bank PLC reported lower profits for the three months, largely affected by higher taxes, margin compression and lower fee incomes which more than offset the benefit of lower impairments which was possible from the improving borrower profile and economic conditions. The bank reported a net interest income of Rs.20.20 billion in the Oct

Central Bank Governor gets Lifetime Achievement Award

Central Bank Governor Dr. P. Nandalal Weerasinghe received the Lifetime chievement Award for the Most Outstanding Contribution to the Banking Industry by the Association of Professional Bankers – Sri Lanka, at its 34th Anniversary Convention held on February 13, 2024. Speaking to the audience, Dr. Weerasinghe attributed the award to the fellow Central Bank team.

Ambitious plans underway to make SL a ‘happening’ tourist destination

Sri Lanka’s tourism sector is gearing up for a major transformation, as the authorities unveil an ambitious plan to make the country one of the world’s most dynamic and sought-after destinations.

Regulations for speedy MSME recovery via business revival units coming up

The Central Bank (CB) is gearing up to issue regulations for operations of business revival units within the licensed banks.

Favourable tapping conditions improve Jan. rubber production

The local rubber production witnessed an improvement in January, due to the weather remaining somewhat favourable for tapping operations.

Aitken Spence records strong performance with EBITDA of Rs.7.8bn for 3Q24

The leading blue-chip conglomerate Aitken Spence PLC reported an EBITDA of Rs.7.8 billion for the third quarter of 2023/24.

SL to host first-ever Chinese marathon come May

Sri Lanka will host the first-ever Chinese marathon this May.

Strong sector performances propel Sunshine Holdings’ earnings by 44.2% to Rs.5.5bn

Diversified Sri Lankan conglomerate Sunshine Holdings PLC recorded a consolidated revenue of Rs.42.4 billion during the first nine months of the current financial year.

Auction yields edge down by almost 1% across board

The secondary market came to a standstill yesterday, as the investors opted for a wait-and-see approach, after experiencing a series of bullish sentiments fuelled by the expectations of a decline in yields over the past few sessions. During the morning hours, the investor interest was centred on liquid maturities, including 2026, 2027 and 2028, which traded at 10.60 percent, 11.40 percent and 11.80 percent, respectively. Moreover, May 15, 2030 ma

HNB Finance champions environmental responsibility with E-Waste Mgt. Solution

HNB Finance is taking a significant step towards environmental sustainability with the implementation of its E-Waste Management Solution. This novel initiative aims to minimize the negative environmental impact of electronic waste disposal, while simultaneously reiterating the company’s stance as a socially responsible organization. The decision to implement the E-Waste Management Solution follows a thorough assessment of the disposal of fixed as

British Council launches Youth-Led Green and Inclusive Initiatives in Biz project

British Council Sri Lanka recently launched a new project, ‘Youth-Led Green and Inclusive Initiatives in Businesses’, to harness the enthusiasm and energy of young business leaders and spearhead green and inclusive transitions in small and medium enterprises (SMEs) in Sri Lanka. The project aims to provide knowledge, skills, resources, and networks to young entrepreneurs to help transform their existing businesses into inclusive and sustainable b

Melwa offers full scholarships to 300 university students

Melwa, a steel manufacturer in Sri Lanka, has committed to corporate social responsibility by offering scholarships to 300 university students across the country. The scholarships provide financial support to students from low-income families who are pursuing higher education to complete their academic programmes. Melwa has been implementing this social welfare programme for about ten years. Under this scholarship programme, more than 3,000 stud

Construction Expo 2024 set to elevate Sri Lanka’s building industry

The Ceylon Institute of Builders (CIOB) is gearing up to host ‘Construction Expo 2024’ for Sri Lanka’s construction sector. Scheduled for the 15th to the 17th of March, the event will take place at the Sirimawo Bandaranaike Memorial Exhibition Centre. Renowned as a key platform for showcasing the advancements and innovations in Sri Lanka’s construction landscape, ‘Construction Expo 2024 by CIOB’ will feature cutting-edge technologies and develo

Joint effort enables safe disposal of 191 tons of PCB-contaminated waste

In a groundbreaking effort to address environmental and health risks, a collaborative initiative involving the Ministry of Environment, the United Nations Industrial Development Organization (UNIDO), Ceylon Electricity Board (CEB), and INSEE Ecocycle has successfully disposed of 191 tons of Polychlorinated Biphenyls (PCBs) contaminated transformer oil and transformers. This initiative marks a significant step towards mitigating potential hazards

SLIA to host ‘Architect 2024’ from Feb. 22-25

Sri Lanka Institute of Architects (SLIA) will be hosting its 42nd annual session ‘Architect 2024’ at the BMICH from February 22nd to 25th. The event will kick off with a grand Inauguration ceremony and the National Conference on the 22nd followed by Architects’ Work, Lifestyle & Trade Exhibition at the BMICH. This much awaited event promises to be an exceptional gathering of architects, investors, construction stakeholders, professionals, stude

Prime Group delivers Prime Villas, Dalugama

Prime Group officially handed over the keys to the owners of Prime Villas, Dalugama. The grand ceremony took place on February 3 marking the completion and successful delivery of the latest addition to the Prime Group portfolio. Prime Villas, Dalugama, an epitome of sophisticated living, began its ground breaking journey in early 2021. Nestled along the Old Kandy Road, this exceptional project boasts three distinct types of 3-bedroom villas thou

Love blooms amidst economic revival

As Sri Lanka emerges from the shadows of a pandemic and a crippling economic crisis, the city of Colombo yesterday embraced Valentine’s Day with a renewed spirit of resilience and optimism.