IFS selects InfoConsulting as exclusive distributor across South Asia

IFS, the global cloud enterprise software company, announced it has entered into an exclusive distribution agreement with InfoConsulting across South Asia (namely Sri Lanka, Bangladesh and Pakistan).

MillenniumIT ESP unveils iconic new head office

MillenniumIT ESP, one of Sri Lanka’s top IT companies, recently celebrated the long-awaited official unveiling of titsheir new head office in Colombo 3

Airtel’s 888 pack gets better with 3 more unlimited apps Telegram, IMO, Viber

The most preferred telco for Sri Lankan youth, Airtel Lanka, has announced an exciting expansion of its highly acclaimed Airtel 888 Freedom Plus pack

SLT-MOBITEL and DIGIECON 2030 to support SL’s acceleration towards an inclusive digital economy

The Technology Ministry, under the patronage of President Ranil Wickremesinghe, has planned to hold DIGIECON 2030 - Sri Lanka Digital Framework 2030

Sunimal Weerasooriya joins Scybers advisory board

Scybers Inc, the global cybersecurity firm, announced the addition of Sunimal Weerasooriya, a highly experienced financial services technology professional

Dialog Enterprise with Irisity takes video surveillance beyond human intelligence

Dialog Enterprise, the corporate ICT solutions arm of Dialog Axiata PLC, in a unique partnership with Irisity, the global leader in artificial intelligence video analytics

Sri Lanka forms action committee to tackle economic crisis job losses

Sri Lanka formed an action committee comprising of key ministry secretaries to implement strategies aimed at re-employing the individuals impacted by the economic crisis, the President’s Media Division (PMD) said in a statement.

LEAP GlobalLinker will empower local industries to grow and enter into cross border trade: DGM- Personal Banking

A timely new initiative by the Commercial Bank of Ceylon to build a digital ecosystem to help Sri Lankan businesses reach international markets is witnessing encouraging traction, with more than 5,000 members onboarded in just three months. In this interview, the bank’s Deputy General Manager – Personal Banking Delakshan Hettiarachchi elaborates on what Commercial Bank LEAP GlobalLinker is all about.

People’s Bank establishes export hubs for SMEs

People’s Bank recently made yet another innovative enhancement in its services offering by launching an ‘Export Hub’ concept to support SME sector exporters.

AIA Insurance secures ISO Greenhouse Gas Emissions Certification

AIA Insurance announced its ISO 14064 -1:2018 Greenhouse Gas Emissions certification, in yet another manifestation of its commitment to helping people live healthier, longer, better lives. This is a globally respected certification that recognizes the company’s commitment to sustainability and its efforts to reduce its carbon footprint and greenhouse gas emissions

Union Assurance among top 100 Most Valuable Consumer Brands for 15th consecutive Year

Union Assurance announced its recognition as one of the ‘Top 100 Most Valuable Consumer Brands in Sri Lanka’ for the 15th consecutive year. This esteemed accolade was bestowed by LMD in partnership with Brand Finance, a global brand valuation consultancy.

HNB Finance launches new Gold Loan Unit at Morawaka branch

Visa and SAP join forces to make enterprise payments more efficient

Visa announced it has entered into a collaboration with SAP to streamline and simplify business-to-business (B2B) payments for enterprises, from businesses small to big, to government agencies and non-profit organisations. The collaboration, led out of Asia Pacific, marks the first time Visa, the world’s leading company in digital payments, and SAP, one of the world’s market leaders in enterprise application software, join forces to bring to lif

Phoenix expands with new showroom in Battaramulla

Phoenix Industries announced the opening of its newest branch in Battaramulla. This expansion aims to provide easier access to Phoenix’s diverse range of products for customers residing in Colombo, Battaramulla, Malabe, Pelawatta, and Thalawathugoda. The newly opened branch serves as an experiential center, allowing customers to have an immersive shopping experience. Here, customers can explore a wider range of products and choose from an extensi

Flexiprint shines at NBE Awards again

Flexiprint Private Limited, a leader in the packaging industry of Sri Lanka, bagged the Merit Award in the Printing and Related Services Sector at the National Business Excellence Awards 2022 organised by the Ceylon Chamber of Commerce (CCC). Flexiprint Team including its Managing Director (MD) Sathis Abeywickrama received the Award from Deputy President of CCC, Kavinda Rajapaksa at a glorious event held at the Shangri-La Hotel in Colombo.

C. W. Mackie PLC publishes 22/23 Annual Report announcing best financial results in over 100 years of operation

C. W. Mackie PLC, one of Sri Lanka’s leading and longest-standing diversified conglomerates, published its integrated annual report for the 22/23 financial year, highlighting the Company’s resilience during a period defined by unprecedented challenges to register its best financial results in over a century of operation.

Ocean Lanka inaugurates new office premises

Ocean Lanka (Pvt) Ltd, the joint venture between Fountain Set (Holdings) Limited, Brandix Lanka Limited, and Hirdaramani Group, inaugurated its new office premises recently. The momentous occasion was celebrated with a grand ceremony, symbolizing a significant milestone in the collaboration between these organizations. The welcome note was delivered by Dr. Austin Au, the Managing Director of Ocean Lanka, who expressed his gratitude and enthusias

Hilmy’s take on why Tata Sons Chairman’s visit is significant

With a population of 1.4 billion and among the fastest growing economies in the world, Sri Lanka is in a vantage position to benefit and learn from the world’s sixth largest economy. Within India, Sri Lanka should further strengthen its strategic relationship with the Tata group.

DFCC Bank becomes first Sri Lankan entity of Green Climate Fund

DFCC Bank PLC this week announced its accreditation by the Green Climate Fund (GCF), making it the first Sri Lankan entity to achieve this significant milestone. This accreditation empowers DFCC Bank to access concessionary funding for projects with a value of up to US $ 250 million from the GCF, enabling financing climate mitigation and adaptation projects across Sri Lanka.

Indian CEO Forum meets Tata Sons Chairman in Colombo

The board of the Indian CEO Forum-Sri Lanka (ICF) recently met Tata Sons Chairman Natarajan Chandrasekaran, who was on a visit to Sri Lanka. The ICF had an interactive meeting with Chandrasekaran and highlighted on the positive environment opportunities for investments in Sri Lanka.

USAID signs agreements with eight Lankan businesses to promote commercial mediation

Eight Sri Lankan business conglomerates have signed agreements to pursue commercial mediation to settle disputes as opposed to always using litigation, a move that will help make the Sri Lankan judicial system more efficient and effective by reducing case backlogs.

WB’s recommendations for SL’s economic recovery

Shifting to a more productive and outward-looking economy

European Commission proposes 4-year extension to GSP+

The European Commission has proposed a four-year extension to the current GSP+ scheme, until December 31, 2027, so that countries such as Sri Lanka do not lose their preferential access in the interim.

Next two years critical for Sri Lanka’s recovery: World Bank

The next two years would be critical for Sri Lanka’s recovery, the World Bank (WB) Country Director for Sri Lanka said, while cautioning that there are further significant headwinds that need to be closely monitored. WB Country Director for the Maldives, Nepal and Sri Lanka Faris Hadad-Zervos asserted that while improvements are seen in the economic and social landscape in the island nation, it is not the end of the road.

Sri Lanka gets EUR 9.8mn grant to strengthen public finances

Sri Lanka has signed financing agreements to secure a grant of EUR 9.8 million from the World Bank, European Union (EU) and Française de Développement (AFD) to strengthen the country’s management of public finances. The grant aims to support improving economic governance, transparency and accountability in how public finances are spent. The grant will be utilised to strengthen the overall accountability framework by improving the performance of t

T-bill yields rise as investors favour high-yielding, long-term bonds

For the second consecutive week, yields increased at the weekly bill auction, indicating tight liquidity in the system and a preference among investors for bonds, which continue to offer relatively higher yields for longer tenures. This trend comes in light of the recently announced domestic debt restructuring plan, which has been better than initially anticipated. During the bill auction conducted yesterday, the yields experienced an increase a

SL secures EUR 9.8mn grant to strengthen public finances

Sr Lanka has signed financing agreements to secure a grant of EUR 9.8 million from the World Bank, European Union (EU)and Française de Développement (AFD) to strengthen the country’s management of public finances.

European Commission proposes 4-year extension to GSP+

The European Commission has proposed a four-year extension to the current GSP+ scheme until 31 Dec 2027, so that countries, such as Sri Lanka, do not lose their preferential access in the interim.

Financial assets unlikely to come under proposed wealth tax

Financial assets are unlikely to come under the proposed wealth tax, which is set to come into effect in 2025, due to practical difficulties and complex nature in administration and tax collection, according to a top tax expert.

Industrial sector faces setback amid apparel industry struggle

Sri Lanka’s industrial sector heft took a surprising dive in May reflecting weaknesses in the apparel sector, which has been going....