Sri Lanka inks agreement with Huawei to digitise schools

Sri Lanka has formally inked an agreement with the Chinese technology giant, Huawei, solidifying the company’s commitment to support the digitisation of schools in the island nation, President’s Media Division (PMD) said in a statement. The agreement signing took place when President Ranil Wickremesinghe, who is on an official tour to China, visited the Huawei’s research and development centre in Beijing, yesterday. Simon Lin, Senior Vice Preside

Manufacturing slows amid sluggish demand, eased import restrictions

Sri Lanka’s manufacturing activities continued to contract in the month of September, amid sluggish consumer demand and increased availability of imported good in the market at competitive prices, presumably due to the phased lifting of import restrictions by the government. The Manufacturing PMI recorded an index value of 45.7 in September, indicating a contraction in manufacturing activities. An index value below 50 indicates a co

Tourist arrivals cross 50,000 mark in first two weeks of October

The tourist arrivals to the island nation for the first two weeks of October crossed the 50,000 mark, the provisional data from the Sri Lanka Tourism Development Authority showed. Between October 01 and October 15, Sri Lanka received 50,395 international visitors, contributing to a cumulative total of 1,066,651 arrivals for the first 10 months ending on October 15. The arrival target set for October by the tourism authorities is 147,78

Commercial Credit and Finance to acquire 20% stake in Mega Pay for Rs.180mn

Commercial Credit and Finance PLC (CCF) yesterday said it entered into an agreement for the acquisition of a 19.99 percent stake in Mega Pay (Pvt.) Ltd (Pay & Go), on October 10, 2023, for a consideration of Rs.180 million. At the time of executing the agreement, CCF has made an initial investment of Rs.27 million, securing a 2.99 stake in Mega Pay. “The remaining ownership stake will be acquired in accordance with the agreed-upon pay

President promotes Lankan investment opportunities to eager Beijing audience

President Ranil Wickremesinghe yesterday addressed a full-house audience in Beijing, China, encouraging them to consider investments in Sri Lanka. He delivered his speech at an investment seminar jointly hosted by the Board of Investment in Sri Lanka and Sri Lankan Embassy in China. Notable attendees included Foreign Minister Ali Sabry PC, Transport Minister Bandula Gunawardana, Central Bank Governor Dr. Nandalal Weerasinghe, Board of

CDB takes lead to accelerate sustainable mobility in partnership with CodeGen

Continuing its unwavering mission of advancing the green economy, Citizens Development Business Finance PLC (CDB) recently launched....

HNB General Insurance’s MotorGuard ‘03 in 01’ creates hype with island-wide activations

Building on the success of the recent product launch, HNB General Insurance carried out an island-wide street promotion campaign to take the....

MendisOne honours legacy spanning twenty five years

MendisOne recently celebrated 25 years of prosperity as one of Sri Lanka’s most compelling businesses built on trust, reliability, and ....

Orel Corporation empowers rural education with Orel Smart TVs

In honour of Children’s Day on 1st of October, Orel Corporation embarked on an admirable venture dedicated to enriching the educational....

Laugfs Eco Sri recognised as a Great Place To Work

Laugfs Eco Sri Limited, a subsidiary of Laugfs Holdings announced its certification as a Great Place to Work (2023-24), reinforcing its commitment....

HaulMatic set to revolutionize SL’s transport landscape

The transportation landscape in Sri Lanka is poised for an extraordinary transformation with the introduction of HaulMatic. Fueled by artificial....

Tokyo Stock Exchange spotlights Hunas Holdings’ partnership with Adrian Zecha and Sophia Holdings

The strategic partnership between Sri Lanka’s diversified conglomerate Hunas Holdings PLC, visionary hotelier Adrian Zecha...

BRI’s long-term vision remains unaltered despite volatility

Although numerous news reports suggest China’s infrastructure-focused Belt and Road Initiative (BRI) is at a crossroads....

Lankan apparel industry sees uptick in GOTS adoption: JAAF

The Joint Apparel Association (JAAF) has noted a growing trend in Sri Lanka’s apparel manufacturing sector, with more companies....

ICC Chair Maria Fernanda Garza to visit Sri Lanka

Maria Fernanda Garza, the Chair of the International Chamber of Commerce (ICC), is set to visit Sri Lanka on October 18, 2023. The ICC...

Big Tobacco turns to rooibos tea to counter upcoming ban

Big Tobacco firms, including British American Tobacco (BAT), are selling heat sticks made from nicotine-infused substances such...

Foreign trading accounts for 60% of turnover

Indices closed in red as a result of price losses in counters such as Commercial Bank, Sampath Bank and Melstacorp with the turnover....

No new taxes in 2024 budget, confirms Siyambalapitiya

Sri Lanka will not be looking to impose new taxes on people in the upcoming budget to boost government revenue to meet the International Monetary....

Hayleys Group CFO Milinda Hewagama appointed to UN Global Compact Network Sri Lanka Board

Group Chief Financial Officer and Head of ESG of the Hayleys Group, Milinda Hewagama was recently appointed to the Board of the United ...

Microsoft completes biggest deal in gaming history

Microsoft has completed its US$ 69 billion takeover of Call of Duty maker Activision Blizzard in the gaming industry’s biggest ever...

Sri Lanka-India passenger ferry services resume after 40 years

The passenger ferry service between India’s Nagapattinam and Kankesanthurai in Jaffna, which experienced a nearly six-month delay...

Key takeaways from IMF/World Bank meetings in Morocco

Overshadowed by fresh Middle East violence and hosted by a country still recovering from an earthquake, the week-long annual....

SL’s anti-corruption efforts require more professionals coming onboard: PC Jayamanne

Sri Lanka has a long journey ahead in its anti-corruption efforts, which require professionals in the financial sector to elevate their vigilance...

Fitch ratings confirms Stable Outlook for 7 Lankan insurers, lifts Negative Watch

Fitch Ratings has affirmed the National Insurer Financial Strength (IFS) ratings of seven Sri Lankan insurers and removed them from Rating....

Moose Clothing cracks down and removes counterfeit products from the market

Moose Clothing Company, a leading name in Sri Lanka’s fashion industry said it is taking decisive legal actions against counterfeit sellers...

AmCham Sri Lanka elects Shirendra Lawrence as President at 31st AGM

The American Chamber of Commerce in Sri Lanka (AmCham SL), part of the world’s largest business organisation and network, the US Chamber....

CSE creates awareness on regulated short selling via virtual workshops

The Colombo Stock Exchange (CSE) conducted a series of virtual workshops and intends to continue more workshops on regulated....

CA Sri Lanka Council Member Tishan Subasinghe elected to CAPA board

Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) Council Member Tishan Subasinghe was elected last week to serve...

Sri Lanka Retailers Association to host FAPRA executive committee meeting

The Sri Lanka Retailers Association (SLRA) is proud to announce its upcoming role as the host nation for the highly anticipated Federation...

Borders and the budget: Visa reform will boost tourism and reverse brain drain

Three million tourists are set to visit our shores next year. We will issue nearly as many online visas – millions too many. ETAs are a tourist’s...