Sri Lanka’s years-long labour market weakness persists as firms still shed staff

Despite some strength reflected by the official jobless rates, Sri Lanka’s labour market remains still a lot weaker before both the economic crisis and the pandemic as industries and companies...

Hatch and Sarvodaya launch GoviLab agritech accelerator

Sarvodaya, a leading grassroots organisation, is partnering with Hatch, Sri Lanka’s largest innovation and entrepreneurship development organisation, to launch the GoviLab agritech...

Key 2024 sustainability trends driving the year ahead

Over the past several years, many companies globally have taken a voluntary approach to sustainability goals, decisions and strategies. Throughout 2023, a common refrain was that progress toward....

Red Sea crisis diverts attention back to shipping

Suez Canal diversions will inflate container shipping costs for as long as the situation lasts, but trade always finds a way, even if it takes a bit longer than usual. Inevitably....

FBX Index January 2024: Looking forward

Indices and futures bid/ask levels have firmed dramatically in recent days and weeks because of the Red Sea crisis. Container freight rates have surged....

ComBank wins Platinum for Jaffna branch at Green Building Council Awards

The Jaffna branch of Commercial Bank of Ceylon has been awarded a Platinum rating by the Green Building Council of Sri Lanka (GBCSL), the highest available award in Sri Lanka for green...

Union Bank’s Elite Circle redefines personalised banking

Union Bank recently relaunched its private banking proposition Union Bank Elite Circle, with a selection of new features tailored to its customers’ specific needs. The most recent...

Seylan Bank helps offset rising electricity cost with Solar Loan facility

Seylan Bank has introduced a solution to address the challenge of rising electricity bills. In response to the pressing need for sustainable and cost-effective energy solutions....

IMF reminds Sri Lanka to seal agreements with creditors before second review

Sri Lanka’s reform initiatives garnered positive feedback from the visiting International Monetary Fund (IMF) team during their recent routine assessment. However, despite this encouraging development....

IMF applauds Central Bank’s triumphs over inflation but urges prudent policy ahead

Leveraging the effectiveness of the Central Bank of Sri Lanka on the control over inflation, the International Monetary Fund (IMF) emphasised the importance of maintaining a prudent approach in future monetary policy decisions.

Central Bank to roll out phase II masterplan under NBFI consolidation effort

While reiterating once again the importance of consolidation in the banking sector for higher scale, efficiency and strength, the Central Bank said it is going to roll out the second phase of the consolidation master plan for the non-bank finance company sector in earnest.

Singer Sri Lanka to merge with subsidiaries

Singer Sri Lanka PLC, the holding company engaged in retailing and wholesale marketing home appliances and furniture, would merge with two of its subsidiary companies, a filing to the Colombo Stock Exchange revealed. Hayleys PLC, the parent company, this week disclosed that the shareholders of Singer PLC and its two subsidiaries approved the resolution for the merger to take place. The approval was given at an Extraordinary General Meeting held

Five companies delist from CSE this week

The Colombo Stock Exchange (CSE) this week saw five companies delist. As per the notices from the capital market operator, Indo-Malay PLC, Good Hope PLC, Selinsing PLC, Shalimar (Malay) PLC and Nestle Lanka PLC have been delisted from the official list of the CSE, from this week. While Nestle PLC delisted officially from January 17, the Singapore-based four entities delisted from January 18. This brings the number of listed companies on the CSE t

St. Regis receives world’s first Zero Carbon Product certification for tea packaging

A game-changing world first in the sphere of packaging for bulk teas by Sri Lanka’s St. Regis Packaging can potentially enhance the environmental credentials of Ceylon Tea on the global stage. The inventor of the Rigid-T-Sack that replaced plywood chests in the bulk packaging of large leaf teas in 1996, St. Regis has received the world’s first Zero Carbon Product certification in its category for the company’s Rigid-T-Sacks as well as for multiwa

Colombo Tea Auction sees 5.1 MnKgs under hammer this week

The Colombo Tea Auction saw 5.1 million kilogrammes come under the hammer this week, which was met with good demand. In the Ex-Estate catalogues, the quantity on offer totalling 0.76 million kilogrammes, was fairly similar to last, with only a small selection of useful liquoring the Westerns. Improved demand was seen all-round with the better teas from the Western slopes, in particular, appreciating by a higher margin. The teas at the lower en

UK retail sales fall at sharpest rate since Covid

BBC: Retail sales volumes fell by 3.2 percent in December in the sharpest drop since the UK was in a Covid lockdown. Official figures revealed a sharp fall in demand for goods but food sales also declined in the run-up to Christmas. The Office for National Statistics (ONS) said it appeared people did their shopping earlier in November, taking advantage of Black Friday sales. It meant that retail sales tumbled at the fastest rate since January 20

JICA-EDB to introduce Sri Lankan ICT companies to Japanese market

The Export Development Board (EDB) has solidified its commitment to advancing the ICT BPM sector by establishing a strategic partnership with the Japan International Cooperation Agency (JICA). This collaboration is set to play a pivotal role in expanding and cultivating the Japanese market for Sri Lanka’s burgeoning ICT BPM industry, aiming to create a network that goes beyond immediate economic benefits, promoting a culture of collaboration and

CB likely to hold rates steady in upcoming policy review

As the Central Bank of Sri Lanka prepares to announce the initial monetary policy review of 2024 next week, industry experts anticipate that the monetary authority will uphold current policy rates initially, with a subsequent shift towards a more accommodative stance. This adjustment is anticipated to facilitate the continued enhancement of vital economic indicators. According to First Capital Research (FCR), there is an 80 percent probability th

India, Sri Lanka exploring synergies in new areas to achieve economic development goals: Envoy

The governments of India and Sri Lanka are currently working on promoting and strengthening connectivity in digital, physical, and power & energy spheres between the two countries. In the digital sphere, the Indian government has embarked on several projects for Sri Lanka that includes the launching of a Pi payment system, promotion of green settlements in INR and the imple

Ranil affirms trust in new investments for rebuilding economy

In a candid discussion at the World Economic Forum (WEF) stakeholder dialogue titled ‘Pulling back from the brink,’ held in Kurpark Village, Aspen, President Ranil Wickremesinghe outlined short-term strategies aimed at revitalising Sri Lanka’s economy, and affirmed trust in new investments helping in realising the development agenda.

Sri Lanka eyes to attract high-end tourists with upcoming ‘Galle Concerto 2024’

Sri Lanka is eyeing to attract high-end tourists to the Southern Coast with upcoming ‘Galle Concerto 2024’ series featuring six vibrant festivals in art, food, literature, and music in this peak winter season. “Out of our (2

India, Sri Lanka explore synergies in new areas to achieve economic development goals: Envoy

The governments of India and Sri Lanka are currently working on promoting and strengthening connectivity in digital, physical, and power & energy spheres between the two countries.

Sunshine appoints Shyam Sathasivam as Group CEO

Diversified conglomerate Sunshine Holdings PLC has announced the appointment of Shyam Sathasivam as its Group Chief Executive Officer. Shyam held the p

Sri Lanka commits to Fair Trade collaboration

In a strategic move to promote International Fair Trade and foster global cooperation, Sri Lanka has inked the Framework of Cooperation (FOC) with International Fair Trade Networks in Colombo. The signing cerem

Indian CEOs get first-hand insight on Sri Lanka’s economic outlook from Ranil

The Indian CEOs were able to get first-hand insights on the development in Sri Lanka’s economic landscape this week with President Ranil Wickremesinghe taking the centre stage at a recent roundtable discussion organised by the Con

AMDT School of Creativity hosts key officials from UK’s Falmouth University

The AMDT School of Creativity recently had the privilege of hosting key officials from Falmouth University, with which it is affiliated, offering globally recognised Falmouth University BA (Hons) Degrees in Sri Lanka. Falmouth University

COPF slams Finance Ministry, IRD for failure to collect taxes from major corporations

The Committee on Public Finance (COPF) slammed the Ministry of Finance and the Inland Revenue Department for failure to collect foregone taxes from major corporations connected to the sugar scam as outlined in the forensic report by the

Dialog Television Launches HITS NOW, Elevating Sri Lanka’s Television Experience

Elevating Sri Lanka’s entertainment landscape, Dialog Television, Sri Lanka’s #1 Pay-TV service provider, launched the popular HITS NOW channel in High Definition (HD) on Channel 113 for its customers, bringing quality curated

ICFS explores alternatives amidst Australia’s, UK’s shifting policies for Sri Lankan students

Despite the recent immigration policy changes and new strategies introduced by Australia and the United Kingdom for students aspiring to pursue higher education, the International Centre for Foreign Studies (ICFS) said that many other destinati

Great Place to Work and Mastercard to host ‘Mastering Greatness – Brains & Brawn’ event

In an exciting partnership, Great Place to Work and Mastercard are set to host ‘Mastering Greatness – Brains & Brawn’, designed by G360 and Cherish, which is an exhilarating Amazing Race-type team event that promises to engage bot