Hambantota port establishes dedicated berth for passenger liners

The Hambantota International Port (HIP) has responded to the increase in cruise tourism by establishing a dedicated berth for passenger....

Taj Samudra Colombo kicks off June quarter earnings with promising start to city hotels 

Kicking off the second quarter earnings season, Tal Lanka Hotels PLC, the owners and operators of Taj Samudra Colombo reported higher top...

ICC Sri Lanka announces third ICC Arbitration Conference

International Chamber of Commerce Sri Lanka (ICC Sri Lanka) is set to host its third annual Arbitration Conference on August 3rd, at the Galadari Hotel...

Amana Bank to raise Rs.6.67bn via rights issue

Amana Bank PLC has resolved to raise Rs.6.67 billion via a rights issue to beef up its capital buffers. The bank said it plans....

Youth competition ‘SPARK’ receives overwhelming response

The Ceylon Chamber of Commerce and the International Labour Organization (ILO) said they received an overwhelming response...

NCE to conduct 31st Annual Export Awards

The National Chamber of Exporters (NCE) will conduct its 31st Export Awards ceremony on December 08, 2023, at Shangri-La....

Friends Adult Diapers makes financial donation to enhance comfort of elders

Friends Adult Diapers, marketed in Sri Lanka by Darley Butler & Company, continues to contribute towards enhancing the comfort....

Rajeev Amarasuriya speaks at Kigali Global Dialogue 2023

Attorney Rajeev Amarasuriya joined the plenary session on ‘Managing Debt and Looking at Alternatives in Development Finance’, at the third....

Dhammika Fernando awarded Lifetime Gold Medal by CIPM Sri Lanka

The Chartered Institute of Personnel Management (CIPM) awarded the Lifetime Gold Medal to Dhammika Fernando, at the recently...

Abans acclaimed as Most Loved Brand of 2023 in Retail (Lifestyle) category by Brand Finance

Abans, the leading consumer durable retailer in Sri Lanka, has been presented with the esteemed recognition of being the Most Loved....

Sri Lanka’s Favorite Ice Cream Brand Celebrates World Ice Cream Day

Elephant House, Sri Lanka’s favorite ice cream brand, is gearing up to celebrate World Ice Cream Day on the 16th of July. With a rich history spanning over 150 years, Elephant House has firmly established itself as the clear market leader and trendsetter in the ice cream industry

Cinnamon Air launches scheduled flights to Jaffna from Colombo

Cinnamon Air, Sri Lanka’s premier domestic airline, recently launched scheduled flights to Jaffna, which will provide travellers with easy

Offering slightly dips at this week’s Colombo Tea Auction but sees good demand

The Colombo Tea Auction saw 6.2 MnKgs come under the hammer this week.

Australia names first woman to lead its central bank

BBC: Australia’s central bank says it will be led by a woman for the first time since it was founded in 1960.

41 SOEs yet to release public financial data up to 2022

Only 11 out of 52 state-owned enterprises (SOEs) have published financial data up to 2022, the public finance update by Verite Research showed

COYLE proposes measures to propel Sri Lanka’s economic growth

To ignite positive change and enhance Sri Lanka’s economic standing, the Chamber of Young Lankan Entrepreneurs (COYLE) presented

AIA Group Chief meets President Ranil Wickremesinghe

The officials of AIA, an American-Hong Kong-based multinational insurance and finance corporation, met with President Ranil Wickremesinghe this week

BOI inks agreement with Sinopec to set up fuel stations across Sri Lanka

Sinopec Energy Lanka (Pvt.) Ltd and the Board of Investment of Sri Lanka (BOI) entered into an agreement yesterday to operate and set up fuel stations for distribution in Sri Lanka

SL keen on seeing Indian rupee used as much as US dollar

The Sri Lankan government would want to see the Indian rupee used as much as the dollar, President Ranil Wickremesinghe said

D. S. Senanayake hold edge over Kingswood

Five matches of the Dialog School Rugby league tournament are down for decision this weekend in Colombo with one scheduled to be kicked off today, between D. S. Senanayake College and Kingswood College to be played at Havelock Park with the others slotted to be played tomorrow.

DDO could upend EPF fund mgt. with govt. requiring less debt: CB

With the government issuing less debt than before under the domestic debt optimisation (DDO) proposed recently

IMF to discuss additional revenue mobilisation with Sri Lanka during first review in September

The International Monetary Fund (IMF) yesterday said it expects to discuss with Sri Lankan authorities how best to mobilise additional revenues for the country

Govt. aims to achieve 90% of revenue target with additional measures to boost tax revenue

The government plans to achieve 90 percent of the revenue target set for this year by implementing a number of additional strategies aimed at optimising state revenue by the three tax collecting agencies

Ambeon completes Dankotuwa Porcelain sale to Ceyline Investments

Ambeon Holdings PLC yesterday completed the sale of 50.10 percent stake in Dankotuwa Porcelain PLC to Ceyline Investments Ltd

Investor interest seen at first bond auction in 4 months as rates fall fast

The first bond auction held yesterday after almost a four-month hiatus and the domestic debt restructuring plan announced a fortnight ago

Sri Lanka launches world’s first collaborative email service ‘Zapmail’

The world’s first collaborative email service, ‘Zapmail’ has been launched and is now available to the public, aiming to provide the best communication experience at your own pace.

Lending rates likely to drop to 11 - 12% by end of this year: Banks’ Association chief

Sri Lanka is likely to see a drop in the prime lending rate in the coming months, a move that will help businesses to gain access to capital, Sri Lanka Banks’ Association (SLBA) said.

IMF approves long-awaited US$ 3bn Pakistan bailout

BBC: The International Monetary Fund’s (IMF) board has given its approval for a US$ 3 billion bailout for Pakistan.

Occidental Eden Beruwala reopens doors after Rs.1.5bn extensive renovation

Occidental Eden Beruwala reopened its doors in May 2023, following the conclusion of an extensive renovation involving a total revamp of all 158 guest rooms, common spaces and guest amenities, at a cost of Rs.1.5 billion.

SVAT scheme termination contingent on effective refunding mechanism

The tax policy advisory of the Finance Ministry has given assurance to the business community that if there is no proper refunding mechanism in place, the removal of the Simplified Value-Added Tax (SVAT) scheme may not take place in January 2024, the National Chamber of Exporters (NCE) said. The assurance was given by Finance Ministry Tax Policy Advisor W. Thanuja A. Perera, the NCE said in a press relea