Drafting of new legislation underway to cement fiscal reforms: Treasury Secy.

In order to prevent the potential reversal of the progress achieved on the fiscal front and solidify the reforms implemented since last year, a string of new legislation is being drafted and some in their final stages before proceeding to parliament for approval, a top government official said.

Apparel sector eyes US $ 1bn exports to India in next few years

Sri Lanka’s apparel sector has no major hopes for export earnings reaching the US$6 billion level this year; however, it is striving to bag a bigger market share in its neighbouring giant, a top official of a leading apparel maker in the country said.

Sri Lanka faces uphill battle in meeting 2024 budget targets: Fitch

The targets laid out in Sri Lanka’s 2024 budget, particularly with regards to revenue and fiscal defect, would be challenging to meet even with the economic recovery that is expected to continue next year, Fitch Ratings yesterday said.

BOC delivers positive results in 3Q

Bank of Ceylon (BOC) has concluded the third quarter of 2023 on a positive note, demonstrating resilience in a challenging economic....

PA rallies stakeholders for swift action against Pesta leaf fall disease

The Planters’ Association of Ceylon (PA) yesterday called for urgent and broader collaboration across domestic and regional stakeholders....

PMI signals recovery with manufacturing contraction easing and services expanding

As widely anticipated, the Purchasing Managers’ Indices (PMI) provided a hopeful signal of the potential recovery by registering ....

COPF Chair cautions unrealistic revenue expectations could kill consumption

Despite the government’s presentation of ambitious plans in the 2024 budget, banking on the expected economic recovery, senior....

Tess Agro invests in tin can manufacturing plant to cater to local and export demand

Tess Agro PLC yesterday said it has invested in a tin can manufacturing plant on its factory premises on New Nuge Road, Kelaniya....

HNB Assurance Group records 21% GWP growth in third quarter

HNB Assurance PLC (HNBA) and its wholly owned subsidiary HNB General Insurance Limited (HNBGI) ended the third quarter with the Group....

NDB reports robust performance in first nine months

National Development Bank PLC posted enhanced income and profitability during the nine months ended 30 September 2023. The bank....

Pan Asia Bank’s internet banking excels among outstation branch customers

Pan Asia Bank in a simple ceremony recently felicitated its 50,000th Internet Banking customer and has observed increased registrations...

BOC relaunches ‘SmartPay’ app with added convenience

Bank of Ceylon (BOC) has announced the relaunch of their payment app ‘SmartPay’ with new features, enabling users to simply....

First Capital opens branch in Jaffna

First Capital Holdings PLC, a Janashakthi Group Company, recently opened its first branch in Jaffna, marking a significant step towards...

DFCC Bank wins Euromoney Cash Management – Market Leader Award for third consecutive year

DFCC Bank’s ‘iConnect’ Cash Management Solution has once again proved its mettle by securing the Euromoney Cash Management ...

SLES 2023 first session to highlight how to leverage fiscal stability to accelerate growth

With the highly anticipated Sri Lanka Economic Summit 2023 set to take place on November 28th and 29th under the theme ‘Sustain Reform....

Sampath Bank announces Annual Corporate Partnership with Sri Lanka Institute of Directors

Sampath Bank has announced its Annual Platinum Corporate Partnership with The Sri Lanka Institute of Directors (SLID), effective from ....

Gerald Hidelaratchi honoured at ISMM Sri Lanka’s 51st anniversary

Gerald A. Hidelaratchi was honoured by the Institute of Supply and Management Chain at the 51st anniversary of ISMM....

ComBank embarks on countrywide tree planting campaign

The Commercial Bank of Ceylon has embarked on an ambitious nationwide tree planting campaign to plant 100,000 trees across....

WindForce appoints Harin Udeshi as Independent Non-Executive Director

WindForce PLC has announced the appointment of Harin Udeshi as an Independent Non-Executive Director to the Board, effective....

HELVETAS promotes youth-led advocacy initiatives for local development

Understanding the importance of national outreach and collaboration of like-minded state and non-state institutions in pursuing...

Puredale Kirithe wins Gold at National Industry Excellence Awards

Puredale recently won a coveted Gold Award at the National Industry Excellence Awards 2023. Organized by the Industrial....

VAT exemption removal sparks fears of increased power and energy costs

The proposed removal of Value-Added Tax (VAT) exemptions has raised concerns about the potential application of VAT on power and energy from January of next year.

Budget 2024 likened to a ‘fairy tale’ amid unrealistic revenue targets

President Ranil Wickremesinghe openly recognised the 2024 budget as an election-oriented one, though calling it different from previous election budgets.

Government bets on economic turnaround to bring additional revenues in 2024

While the increase in Value Added Tax (VAT) is expected to do the heavy lifting for the government to reach its revenue targets next year, officials also appear to be betting on the turnaround of the economy from a contraction to a growth, and the normalisation of imports.

SriLankan introduces self-check-in and self-bag-drop services at BIA

SriLankan Airlines advances its passenger services at Bandaranaike International Airport (BIA) with the introduction of self-service check-in and self-bag-drop services. This initiative is set to redefine the travel experience, placing convenience and efficiency at the forefront. The new self-service kiosks aim to minimise waiting times during peak periods, allowing passengers to seamlessly navigate through the check-in process and swiftly proc

Emirates places US $ 52bn wide-body aircraft order at Dubai Airshow 2023

Emirates opened the Dubai Airshow 2023 this week with a significant order for 95 additional wide-body aircraft, taking its total order book to 295 aircraft. Already the world’s biggest operator of wide-body passenger aircraft, Emirates has committed to additional Boeing 777-9s, 777-8s and 787s, worth US $ 52 billion, to power its growth plans, maintain a modern efficient fleet and deliver the best flying experience to its customers. Emirates, alr

William Angliss Institute @ SLIIT hosts networking and awareness event

William Angliss Institute @ SLIIT recently hosted a networking and awareness event for media representatives and other stakeholders to provide awareness about the range of courses and programmes offered by the institute whilst also shedding light on the importance of the hospitality and hotel sector in Sri Lanka. The event took place on November 7, 2023, at William Angliss Institute @ SLIIT, which is located within the SLIIT Malabe premises. The

Resplendent Ceylon-Across Ceylon launch ‘Tour De Resplendent’ with world famous cyclist

Resplendent Ceylon, the renowned Sri Lankan luxury hospitality unit of Dilmah and Across Ceylon, a leading adventure travel company, are excited to announce their collaborative endeavour ‘Tour de Resplendent’, an exhilarating cycling tour that traverses the picturesque landscapes of Sri Lanka, showcasing the island’s natural beauty and cultural heritage and connecting some or all of the five remarkable Resplendent resorts – Ceylon Tea Trails, Wil

Aitken Spence Hotels bags multiple awards and accolades at SATA 2023

Premier Sri Lankan hospitality chain Aitken Spence Hotels reiterated its commitment to unparalleled service excellence in the hospitality industry, with a stunning succession of accolades last month. The company’s properties in Sri Lanka, India and Oman and the Maldives have been recognised for their distinctive experiences and steadfast dedication to quality at various esteemed platforms, further cementing their reputation as leaders in travel

Sun Siyam Resorts appoints industry experts to ignite reopening of Sun Siyam Pasikudah

Sun Siyam Resorts, a renowned and multi-award-winning Maldivian hospitality group, is pleased to introduce Arshed Refai as General Manager and Dulanka De Mel as Sales and Marketing Manager at Sun Siyam Pasikudah in Sri Lanka. Their appointment comes in anticipation of the eagerly-awaited reopening of this remarkable five-star boutique haven on November 17, 2023. The property has undergone a comprehensive rejuvenation, assuring guests a captivati