Banks’ Association hails CB Governor’s assurances on DDR/DDO

The Sri Lanka Banks’ Association (SLBA) has welcomed the assurance by Central Bank Governor Dr. Nandalal Weerasinghe that the financial sector stability will be maintained and the clarifications provided by the governor on the relevant process in this regard.

Cabinet nod to formally apply for RCEP membership

The Cabinet nod has been granted for Sri Lanka to formally apply for the membership in the Regional Comprehensive Economic Partnership (RCEP) trade bloc.

Cabinet nod to draft fresh combined insolvency law

The Cabinet nod has been granted to draft a fresh combined law on insolvency, replacing the outdated and scattered insolvency laws currently in force.

ASPI gains 10% during the month

The ASPI closed in green as a result of price gains in counters such as Browns Investments, Melstacorp and Sampath Bank with the turnover crossing Rs 2.2 Bn. Similar behaviour was witnessed in the S&P SL20. High net worth and institutional investor participation were noted in John Keells Holdings, Seylan Bank, and Hatton National Bank. Mixed interest was observed in Lanka IOC, Sampath Bank and John Keells Hotels whilst retail interest was noted i

SLTDA to launch dashboard providing data updated daily

The tourism stakeholders will be able to make more informed decisions going forward, as efforts are underway to launch a dashboard that will provide timely statistics on performance.

Sluggish exports continue for fifth straight month in May

The sluggish performance of Sri Lanka’s merchandise exports continued for the fifth straight month in May, as Sri Lanka’s main industrial export, apparel and textile products, dipped amid the slowdown in demand from the key markets.

SL seeks US $ 17bn foreign debt relief; urges domestic creditors to contribute

President Ranil Wickremesinghe on Tuesday said the foreign creditors are expected to contribute US $ 17 billion towards the country’s debt restructuring efforts, within a five-year period and the domestic creditors should also make their due contribution towards the debt restructuring.

EDB 25th Presidential Export Awards in Nov.

The Sri Lanka Export Development Board (EDB) yesterday said the 25th Presidential Export Awards (PEA) ceremony will be held...

Banks seen slashing deposit rates while lending rates lag big time

Sri Lankan banks which took little interest towards deposits when interest rates were going up appear to have suddenly woken up to aggressively cut rates on such deposits when the rates are on their way down, leaving the hapless savers devastated from still red-hot prices in the economy.

BMICH engages with PickMe for convenient customer pick-up and drop off points

Both PickMe and the BMICH managements have decided to make a seamless process for customer pick-ups and drop offs at the BMICH....

David Pieris Group enters renewable energy industry with solar solutions

Backed by 40 years of trust, technical expertise and an impeccable reputation for after-sales service, David Pieris Group has entered....

Indices close in red

SL seeks US$ 17bn foreign debt relief; urges domestic creditors to contribute

President Ranil Wickremesinghe yesterday said foreign creditors are expected contribute US$ 17 billion towards the country’s debt restructuring....

Nas Daily to create content for Sri Lanka Tourism

Nuseir Yassin, an Arab-Israeli vlogger who creates content under the ‘Nas Daily’ banner, is expected to create three videos to promote...

Cabinet nod to borrow US$ 500mn from World Bank in budgetary support

The Cabinet nod has been granted to enter into an agreement with the World Bank (WB) to borrow US$ 500 million in budgetary support ....

Sri Lanka to draft fresh combined insolvency law

The Cabinet nod has been granted to draft a fresh combined law on insolvency replacing outdated and scattered insolvency laws currently...

Ceylon Chamber calls for political and public support for domestic debt restructuring

The Ceylon Chamber of Commerce yesterday highlighted the importance of patience and trust in the ongoing domestic debt restructuring...

Thailand’s Sutech Engineering gets approval to set up US$ 400mn sugar project in Vavuniya

The government has decided to proceed with Thailand-based Sutech Engineering’s US$ 400 million sugar development project....

SL to set up Gambling Regularisation Authority to regulate gaming industry

The government has decided to establish a separate authority named Gambling Regularisation Authority to regulate the country’s gaming....

UAE firm to invest US$ 25mn in hotel near Maussakelle Reservoir

The Cabinet has cleared the path for United Arab Emirates (UAE)-based Capital Investment LLC to invest US$ 25 million to build a hotel complex....

COYLE discusses labour reforms with Manusha

The Chamber of Young Lankan Entrepreneurs (COYLE) held a crucial meeting at the Labour Department with Labour Minister Manusha....

BCS Sri Lanka Section elects new leadership for 2023/2024

BCS The Chartered Institute for IT Sri Lanka Section (BCSSL) elected its new leadership for the year 2023/2024, at the Annual General Meeting...

Lak Arcade to operate novelty gift and souvenir shop at Port City

Lak Arcade Ltd and CHEC Port City Colombo Ltd this week announced that they have signed an agreement to operate a novelty....

CCC calls for responsible action and patience on debt restructuring plan

The Ceylon Chamber of Commerce (CCC) urges all political parties and stakeholders concerned to act with responsibility and await the finalization of the proposed debt restructuring plan.

Nas Daily to create content for Sri Lanka Tourism

Nuseir Yassin, an Arab-Israeli vlogger who creates content under the ‘Nas Daily’ banner, is expected to create three videos to promote Sri Lanka for tourism and investment.

Colombo Textiles Group rewards ‘Shop & Win’ Avurudu promotion winners

Colombo Textiles Group of Companies concluded their ‘Shop & Win’ Avurudu promotion which ran from 8th to 30th April at several retail stores across the country. The prize distribution ceremony for the event was recently held at the Cinnamon Grand Colombo.

CMG celebrates achievements with Annual Group Review, awards event

The Capital Maharaja Group (CMG) celebrated its achievements in supporting Sri Lanka’s economic and social progress during turbulent times, with the Group Review and 43rd Executive Of The Year awards ceremony at Stein Studios in Ratmalana on June 16. The Chairman of the Capital Maharaja Group, Sashi Rajamahendran, congratulated the entire CMG Family of executives and employees for their innovation and rapid responses in the face of the most daunt

Nestlé Coconut Plan expands to Central Province

Nestlé Lanka’s signature community development programme, the Nestlé Coconut Plan was expanded recently, benefiting 500 rural families in the Central Province.

Skills Advertising shines high as it reaches thirty years of success

Skills Advertising & Marketing (Pvt) Ltd, one of Sri Lanka’s oldest advertising agencies, is celebrating its 30th year in the industry. The company, founded by Sri Sangabo Corea and currently led by Chairman and Managing Director - Ananda Samarasinghe, has established a reputation in the industry by providing a comprehensive 360 degree solution (ATL, BTL, TTL) to its clients.

Praveena Perera wins ‘Top 50 women’ award

Praveena Perera – Associate Vice President & Group Account Director from MullenLowe was recognised as an emerging woman leader and is this year’s recipient of the award for ‘Leadership in the field of Advertising & Public Relations Sector’ at the “Top 50 Professional & Career Women Global Awards – Thirteenth Edition” organised by Women in Management (WIM).