Phoenix expands reach with opening of 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.

DIMO consolidates power and energy solutions under DIMO Energy brand

Diversified conglomerate DIMO has announced the realigning of its power and energy operations under the new brand identity DIMO Energy which operates in three main pillars High Voltage Power Solution, Medium Voltage &Low Voltage Power Solutions and Renewable Energy Solutions.

MullenLowe senior leadership due in town this week showing support to rebounding Sri Lanka

Senior Leadership S. Subramanyeswar (Subbu) - Chief Strategy Officer MullenLowe Asia Pacific & Global Chair, Group Chief Executive Officer MullenLowe India Vivek Kamath- Chief Operating Officer & Chief Financial Officer MullenLowe India and Helen Bell - Chief Operating Officer, IPG Team Unilever, will be visiting Sri Lanka for a series of client meetings and evening forums scheduled this week.

People’s Bank Medamahanuwara Service Centre moves to new location

HNBGI signs MOU with ACIB to offer comprehensive ‘07 in 01’ insurance coverage

HNB General Insurance joined hands with Asia Corp Insurance Brokers (Private) Limited to introduce an exclusive ‘07 in 01’ comprehensive insurance package.

ComBank celebrates 20 years of remittance services in Qatar

The Commercial Bank of Ceylon recently commemorated 20 years of remittance operations in Qatar with a celebratory event hosted for the management and employees of Exchange Houses, the bank’s premier customers and other stakeholders in this Arabian Peninsula state.

‘Fantastic’ branding campaign for Sri Lanka Tourism in the offing: Harin

Sri Lanka is all set to get its name out to the world with an improved value proposition, as plans are afoot to kick off the long-awaited global promotional campaign in July.

Tourist arrivals cross 600,000 mark

Tourist arrivals to Sri Lanka crossed the 600,000 mark this week, data from the Sri Lanka Tourism Development Authority showed.

Rayynor Silva further ups stake in Sampath Bank

Sri Lanka’s pharmaceutical industry is upbeat on finalising a new pricing mechanism within the next three to four months, with the new leadership of the pricing committee established under the National Medicines Regulatory Authority (NMRA).

Pharmaceutical firms uninterested in state tenders due to outstanding payments

Sri Lanka’s pharmaceutical firms are becoming less enthusiastic to participate in government tenders, due to the financial strain from outstanding payments running into billions of rupees and unfavourable tender clauses.

CHEC to invest US $ 1.2bn in Colombo Port City

China Harbour Engineering Company (CHEC) affirmed further commitment to Sri Lank, with its president assuring the company would pump in more investments into the country.

Pharma industry upbeat on finalising new price mechanism within next 3-4 months

Sri Lanka’s pharmaceutical industry is upbeat on finalising a new price mechanism within the next three to four months, with the new leadership of the pricing committee established under the National Medicines Regulatory Authority (NMRA).

Kelani Cables appoints Mahinda Saranapala as Managing Director

Mahinda Saranapala has been promoted to the position of Managing Director at Kelani Cables PLC, with effect from June 22, 2023. He was CEO/Executive Director from April 2011 and was appointed to the board in December 2013.

Accounting firm EY calls off ‘Project Everest’ to break up firm

BBC: Accounting firm EY has called off its plan to break up its auditing and consulting divisions. The firm, formally known as Ernst & Young, announced it was “stopping work on the project” because its US arm decided to not to move forward.

Companies to get first carbon accounting rules

AFP: Companies around the world will soon have a uniform set of standards on sustainability issues after the body governing international accounting rules published yesterday its first guidelines on reporting greenhouse gas emissions.

SL-Thailand FTA negotiations progressing well; signing expected in March 2024

The fifth round of the Sri Lanka-Thailand Free Trade Agreement (SLTFTA) negotiations commenced in Colombo yesterday, the President’s Media Division said in a statement.

Stock market positive as assurances on DDO boost investor confidence

The Colombo Stock Exchange (CSE) investors took the impending Domestic Debt Optimisation (DDO) announcement positively, as both indices closed in green, with investors particularly showing interest in banking stocks, a sector many feared would be impacted negatively by the DDO

Koddaimunai SC emerges victorious

Koddaimunai SC Batticaloa beat Hindu Youth SC Kilinochchi by 47 runs in their inaugural Kili-Batti friendship trophy annual cricket encounter played at Koddaimunai grounds recently.

First 20 days of June bring in over 61,000 tourists

Tourist arrivals to Sri Lanka totalled 61,183 in the first 20 days of June, provisional data from the Sri Lanka Tourism Development Authority showed. As the tourism....

SriLankan sees 57 pilot resignations, more anticipated 

National carrier SriLankan Airlines yesterday stated that since early 2021, up until now, 57 pilots have resigned from the airline, which includes some early retirements, and “a few more exits can be...

PM vows to rectify shortcomings in ‘Aswesuma’ beneficiary selection

Prime Minister Dinesh Gunawardena has emphasised that if mistakes and shortcomings have occurred in the selection of beneficiaries for the ‘Aswesuma’ programme, they will be rectified without fail....

DDO has no impact on banking sector stability, customer deposits: CB chief

Central Bank Governor Dr. Nandalal Weerasinghe strongly affirmed yesterday that the forthcoming domestic debt optimisation (DDO), set to be announced this week, will have absolutely no adverse effect....

CT CLSA forecasts stronger corporate earnings, economic growth in 2H

CT CLSA became the latest to join the bandwagon offering an upbeat outlook for the Sri Lankan economy from the second half of the year buoyed by the recent rate cut by the Central Bank and the faster....

Shipping and logistics veteran urges reforms to be aligned with evolving industrial practices

Top shipping and logistics veteran Rohan Masakorala has highlighted the need to implement reforms that align with evolving industrial practices, at a recent discussion forum on the topic “Does Sri Lanka Have a Future...

Chandana de Silva appointed Asia Siyaka Commodities Chairman

Strategic leadership, financial and management specialist Chandana de Silva has been appointed Chairman of Asia Siyaka Commodities PLC, the second largest tea broker in Sri Lanka holding 15 percent...

DSI Tyres introduces electric bicycle tyres for first time in Sri Lanka

DSI Tyres has introduced locally produced tyres for electric bicycles (E-Bikes) to the Sri Lankan market space for the first time. They can now be purchased from all tyre outlets and through....

Sri Lanka told to develop strategy for nautical tourism amid massive potential

The EDB Boat and Shipbuilding Advisory Committee recently emphasised the importance of developing a strategy for the nautical tourism industry in Sri Lanka, as the country has a massive potential....

Ceylon Chamber to hold AGM on June 30

The Ceylon Chamber of Commerce will hold its 184th Annual General Meeting (AGM) on June 30th, at 6 p.m. at the Cinnamon Grand Hotel, Colombo. Hideaki Mizukoshi...

CMA Sri Lanka COVID 19 SME Development Conference 2023 tomorrow

CMA Sri Lanka COVID 19 SME Development Conference 2023 has been organised on the theme ‘Resurgence of Micro, Small and Medium Enterprises and Entrepreneurship Development’ to celebrate...

DMASL to host Sri Lanka Digital Marketing Summit 2023

The Digital Marketing Association of Sri Lanka (DMASL), the professional body for digital marketers in Sri Lanka, along with Dialog Axiata PLC, Sri Lanka’s premier connectivity provider, announced plans....