Inflation drops to single-digit levels in July ending near two-year price spiral 

Inflation in the Colombo district retreated to what once appeared to be an elusive mid-single digit level in July, as food prices declined from a year ago, while the non-food prices eased to just above 10 percent, ending nearly two-year long price spiral, which pushed most Sri Lankans into once-in-a-generation cost of living crisis. The inflation measured by the Colombo Consumer Price Index dropped to 6.3 percent in the twelve months through

Pilot plastic waste mgt. system rolled out to address mounting disposal challenge

In an effort to get the private sector to implement an effective plastic waste management system, a ‘Collect Back’ model was rolled out as a pilot by the Ceylon Chamber of Commerce (CCC), in collaboration with the Ministry of Environment to address Sri Lanka’s mounting disposal challenge. The initiative is part of the Extended Producer Responsibility (EPR) model, which requires all stakeholders involved in generating plastic waste to take respons

Inflation drops to single-digit levels in July

The headline inflation in Colombo district as measured by the Colombo Consumer Price Index (CCPI) reached single-digit levels to 6.3 percent in July, easing from 12 percent in June.

Tourist arrivals in first seven months of 2023 outpace 2022 full-year numbers

Provisional data from the Sri Lanka Tourism Development Authority (SLTDA) reveals that tourist arrivals in the first seven months of 2023 have already exceeded the total tourist arrivals recorded for the entire year of 2022.

Hayleys Solar partners with Watchtower to construct 2MWh Battery Backup System

On May 18th 2023, Hayleys Solar, the renewable energy arm of Hayleys Fentons, partnered with Watchtower Sri Lanka to construct....

Daraz to empower South Asian users’ shopping experience with Microsoft Azure OpenAI Service

Daraz, South Asia’s leading e-commerce platform in Pakistan, Bangladesh, Sri Lanka, Nepal and Myanmar, announced the latest....

Nestlé acclaimed Sri Lanka’s Most Valuable Food and Beverage Brand again

Brands Finance, the brand valuation consultancy, in collaboration with LMD, released the annual Consumer Brands ranking...

Colombo Dockyard achieves milestone with first-ever cable laying and repair vessel delivery to European market

Colombo Dockyard PLC made history on July 28, by delivering the first-ever cable laying and repair vessel (CLRV) to the European market....

Miss World Tourism visits Lakarcade

Miss World Tourism and the candidates visited Lakarcade Gift & Souvenir shopping mall yesterday. The visit holds immense importance for Sri Lanka’s ...

Sri Lanka invites Japan to resume investment

Sri Lanka on Saturday invited Japan to resume investment in projects including power, roads and ports as the Japanese foreign minister...

Nestlé Lanka 2Q net profit surges on exchange gains; sales flat

Nestlé Lanka PLC reported marginal growth in revenues in the three months ended June 2023, and the gross margins took a dent...

Expolanka Holdings pivots inward to navigate profits to losses transition

Amid a slowdown in global trade and the easing of pandemic-related disruptions, Expolanka Holdings PLC is shifting its focus inward....

ComBank honoured with six awards by Indian Chamber of Commerce

The Indian Chamber of Commerce (ICC) recently honoured the Commercial Bank of Ceylon with six awards, two in respect of Sri Lanka....

IMF paves way to disburse US$ 7.5bn to Argentina in ‘challenging’ backdrop

Argentina could receive a much-needed disbursement of funds from the IMF, the lender said Friday, with a fresh staff-level agreement...

NSB among Top 10 Women Friendly Workplaces in Sri Lanka for third straight year

Women Friendly Workplace Awards (WFWP Awards) third edition jointly pioneered by Satynmag.com, and CIMA Sri Lanka was held....

NDB Wealth first in unit trust industry to reach 100bn mark in assets under management

NDB Wealth makes history by becoming the first and only unit trust management company to reach Rs. 100 billion in assets under....

Sri Lanka eyes FTA talks with Malaysia and Vietnam

Sri Lanka is eyeing to ink free trade agreements (FTA) with two more ASEAN members, Malaysia and Vietnam, in line with the country’s plans...

HNB Finance launches new Gold Loan Unit at Homagama branch

HNB Finance Plc launched a new Gold Loan Unit at its Homagama branch recently. The branch was also refurbished to further....

HNB Assurance earns global recognition, joining ranks of MDRT’s Top 100 Global Companies

HNB Assurance joined the ranks of MDRT’s Top 100 Global Companies, reaffirming the caliber and quality of the sales force the...

People’s Bank among most outstanding women friendly workplaces

People’s Bank was recognized as one of Sri Lanka’s most outstanding Women Friendly Work Places at the Satynmag CIMA....

Singer forges partnership with vivo to bring innovative smartphones to Sri Lanka

Singer Sri Lanka PLC announced its partnership with vivo, a global smartphone manufacturer, as their official National Distributor. This collaboration...

Rotax celebrates 60 years of excellence

In 1963, a young man named John Roche moved into a shop on Olcott Mawatha, Pettah, with nothing but a wealth of experience earned...

ComBank announces plans to raise up to Rs.12bn via debenture issue

Sri Lanka’s largest private lender in terms of assets, Commercial Bank of Ceylon PLC, yesterday revealed plans to raise up to Rs.12 billion through a listed debenture issue

Aitken Spence Apparel to go bullish on sourcing from India

Aitken Spence Apparel, a wholly-owned subsidiary of Aitken Spence, is currently the sourcing, designing and tailoring partner for Reliance Industries (RIL)

Sinopec team visits BOI

A delegation of experts from China’s Sinopec visited the Board of Investment (BOI)

Millennium Housing says in talks with Sampath Bank for debt settlement

Millennium Housing Developers PLC this week announced that it is currently in discussions with Sampath Bank

New Ceylon Chamber board meets President

The new board of the Ceylon Chamber held a meeting with President Ranil Wickremesinghe at the Presidential Secretariat yesterday

Twitter threatens legal action over Meta’s Threads

Twitter is considering legal action against Meta over its fast-growing rival app Threads

World Cup helps Qatar Airlines score US $ 1.2bn profit

International airlines have reported significant profits this year, boosted by strong demand for leisure travel – and events, such as the World Cup

EDB presents flagship statistical publication ‘Export Performance Indicators 2022’

The Export Development Board (EDB) recently presented its flagship statistical publication ‘Export Performance Indicators 2022’