HNB shines at SLIM National Sales Awards 2023 with five accolades

Reaffirming its commitment to excellence, HNB PLC, once again emerged triumphant at the prestigious SLIM National Sales Awards (NSA) 2023, with its dedicated staff securing a total of five awards. The award cerem

Janashakthi Group strengthens group synergies with strategic share transfer

Janashakthi Group (JXG) this week announced strategic move to enhance Group synergies through the transfer of 25 percent of F

Western province leads Sri Lanka’s economy yet again

Increases share in nominal GDP to 43.4% in 2022, from 42.6% in 2021

Aitken Spence Travels welcomes first Bulgarian charter flight for this winter

Aitken Spence Travels on Wednesday celebrated the arrival of the first Bulgarian charter flight for the winter 2023/24 season at Mattala Rajapaksa International Airport (MRIA). Operated by Bulgar

Govt. builds cash buffer to mitigate reliance on market for funding

This is expected to further quicken ease in bond yields and interest rates

Producer prices continue to decline, alleviating concerns about future inflationary pressures

Producer prices, which typically gauge price pressures through supply chains before reaching end consumers, have continued their months-long deflationary trend through October. This eases concerns that prices could reaccelerate in the near term. Measured by Produc

Western province leads Sri Lanka’s economy yet again

The Western province maintained its status as the foremost contributor to Sri Lanka’s economy in 2022, further solidifying its position by increasing its share in nominal GDP from 42.6 percent in 2021 to 43.4 percent.

Govt. builds cash buffer to mitigate reliance on market for funding

In another positive development, the government has established a cash buffer, enabling a reduction in its dependence on the market for weekly funding through Treasury bills and bonds.

B2C IT services and solutions to get expensive from Jan. 1: SLASSCOM

Procuring IT services and solutions is going to get expensive, with the Value Added Tax (VAT) coming into effect from January 1 and could create unfairness within the industry, the Sri Lanka Association for Software and Services Companies (SLASSCOM) cautioned.

Sri Lanka’s digital lending user base witnesses 125-fold growth in two years

Sri Lanka has witnessed a substantial increase in the user base for online loan applications across leading lending applications, Robocash, a leading legal and authorised online lender, revealed.

National tea sales average up 6% MoM, down 18% YoY

The national tea sales average for December 2023 recorded Rs.1,186.41 (US $ 3.64), showing an increase of Rs.69.76 and US $ 0.22 against the previous month. However, in comparison to the December 2022 average of Rs.1,454.24 (US $ 4.00), it shows a decrease of Rs.267.83 and US $ 0.35 year-on-year (YoY). Looking at elevation-wise analysis, in December, the High Grown average recorded an increase of Rs.67.09 and US $ 0.21 month-on-month (MoM), wh

Aitken Spence Travels welcomes first Bulgarian charter flight for this winter

Aitken Spence Travels yesterday celebrated the arrival of the first Bulgarian charter flight for the winter 2023/24 season at Mattala Rajapaksa International Airport (MRIA). Operated by Bulgaria Air, the flight brought over 200 enthusiastic holidaymakers eager to explore the wonders of Sri Lanka. Throughout their stay, the visitors will embark on round tours, immersing themselves in the rich culture and breathtaking landscapes that Sri Lanka has

Apprehension expressed over draft Electricity Bill’s impact on power sector dynamics

The electricity industry stakeholders continue to raise concerns about certain elements in the draft Electricity Bill, asserting it could potentially pave the way for creation of monopolies in power generation and energy storage while weakening the country’s power grid.

Only certified, trained safari jeep drivers allowed into Yala National Park from Jan. 1

To maintain Sri Lanka’s wildlife tourism, starting January 1, 2024, only trained and certified safari jeep drivers would be permitted to enter the Yala Block, the Sri Lanka Tourism Development Authority said. Dr. Sumith Pilapitiya, Chairman of the committee appointed to improve the quality of wildlife tourism in the Yala National Park, confirmed that the park authorities have been instructed to check the ID issued by the Department of Wildlife C

SriLankan Airlines welcomes wide-bodied Airbus A330-200

SriLankan Airlines recently welcomed the arrival of a wide-bodied Airbus A330-200 aircraft, wet-leased from Air Belgium, giving a further boost to its fleet.

Benchmark one-year T-bill yield continues to show downward stickiness

The benchmark one-year Treasury bill yields continued to show downward stickiness at the final primary bill auction held for the year yesterday, where the Central Bank raised the full offered amount of Rs.77.5 billion. The benchmark one-year bill yield held steady at 12.93 percent, unchanged from last week’s levels, after it gained 10 bps from the week earlier. Both the three-month and six-month bill yields continued to tick lower by six basis p

ParentPay steps up in transforming education with technology

In an era where technology plays an increasingly integral role in education, ParentPay Sri Lanka, a division of ParentPay Group, is at the forefront of shaping the future of educational technology globally. As a leading EdTech company in Europe, ParentPay Group has recently expanded its horizons with the inauguration of a new office in Colombo. Dilshan Gamampilla, Managing Director of ParentPay Sri Lanka stated, “There can be few more motivating

DFCC Bank offers unmatched savings this season with credit and debit cards

Stocked with the season’s best deals, DFCC Bank is excited to usher in festivity with a spectacular array of exclusive offers for its valued credit and debit cardholders. Underscoring the commitment to customer satisfaction, DFCC Bank is set to exceed expectations by offering unparalleled savings of up to 75 percent across 400 plus partner merchant outlets, catering to diverse needs and preferences. Uniquely committed to providing real value to

Janashakthi sets new standard for leadership with launch of ‘Life Great Manager Awards’

Janashakthi Life recently launched the ‘Janashakthi Life Great Manager Awards’ to celebrate outstanding performance of its managerial talent within the sales force. The event was graced by Mahela Jayawardena, who shared valuable insights on effective management, leadership, and the significance of work-life balance with the audience. Prakash Schaffter, Deputy Chairman of Janashakthi Life, and Ravi Liyanage, Director/CEO, were also present at the

SLT-Mobitel Enterprise strengthens collaboration with MBSL to deliver high-tech connectivity solutions

Committed to supporting customers’ evolving connectivity needs, SLT-Mobitel Enterprise signed a bilateral agreement with the Merchant Bank of Sri Lanka & Finance PLC (MBSL), recently solidifying a new era of collaboration between the two organizations. Based on the agreement, SLT-Mobitel Enterprise will provide a range of cutting-edge connectivity solutions to the MBLS, comprising data networking services and enterprise business internet services

Oak Integrated Systems pioneers dialogue on digital transformation and workspace modernization

Oak Integrated Systems (Pvt) Ltd., recently hosted its annual technology event, on 23rd of November at Colombo Courtyard by Marriot. The event focused on bringing together thought leaders and experts to explore the pivotal role of Digital Transformation and Modernization in the contemporary business landscape. The highlight of the event was a compelling panel discussion featuring distinguished individuals who are at the forefront of technologic

NDB drives remittances with its renewed ‘Salli Ratin –Thagi Apen’ campaign

National Development Bank PLC has reintroduced its iconic campaign ‘Salli Ratin – Thagi Apen’ to promote and encourage the channelling of foreign remittances through the Western Union money transfer platform. In this ongoing promotion, customers collecting Western Union remittances from NDB branches are eligible to receive mobile reloads. The campaign coincides with the ongoing festive season and will be available until January 07, 2024. Recogni

Amrak Institute of Medical Sciences Clinches SME Local Brand of the Year Awards at SLIM Brand Excellence Awards

In a momentous triumph, Amrak Institute of Medical Sciences has been honored with the prestigious Merit Award at the SME Local Brand of the Year category in the SLIM Brand Excellence Awards. The ceremony, held at Monarch Imperial on 18th, December 2023, witnessed industry leaders, marketing professionals, and distinguished guests coming together to acknowledge and celebrate outstanding achievements in branding.

Reflecting, remembering and healing…

The 19th Tsunami Commemoration took place at the Tsunami Memorial in Pereliya, Hikkaduwa, Galle, yesterday, with the active ....

VAT may push gem and jewellery industry underground: SLGJA

The imposition of an 18 percent Value-Added Tax (VAT) on Sri Lanka’s gem and jewellery sector poses a threat to its sustainability....

CB set to end 2023 as net purchaser of foreign currency

The Central Bank is poised to conclude 2023 as a net buyer of foreign currency from the domestic foreign exchange market...

Daya Gamage and son compounded by SEC

Former parliamentarian and businessman Daya Gamage and his son Chamindra Gamage have been compounded by the Securities....

Non-bank finance sector asset quality woes persist though slowing

The asset quality woes of Sri Lanka’s non-bank finance financial institutions (NBFI) appeared to have bottomed out in the quarter...

Prime rate drifts down towards 12%, lowest since April last year 

The prime rate or the rate at which banks loan to their prime clients mostly for short tenors is drifting down towards 12 percent, a level....

Workers’ remittances to SL likely grow at slower pace next year amid low oil prices: WB

The pace of recovery in official workers’ remittance inflows to Sri Lanka witnessed during this year is unlikely to continue into next ....