Sundara by Mosvold wins Silver at CAFE 2023

The Culinary Art Food Expo (CAFE), the most comprehensive food and beverage exhibition in Sri Lanka, had its 18th edition this year, showcasing only the best of global cuisine in Colombo, hosted at the BMICH....

LOLC General Insurance and Stafford Motors team up to enhance service for Honda vehicle owners

LOLC General Insurance (LOLCGI), the fastest growing motor insurer of the country, has announced a strategic tie-up with Stafford Motor Company (Stafford Motors), the sole agent for Honda vehicles....

Nepal Automobiles’ Association delegates visit AAC

A delegation from the Nepal Automobiles’ Association (NASA), the largest motoring organisation in Nepal for mobility and motor sports, headed by NASA Executive Director and FIA World Council member....

Riyelta motorcycle and three-wheeler batteries now from Singer outlets

Riyelta motorcycle and three-wheeler batteries now from Singer outlets

Singer Sri Lanka PLC, the leading retailer of consumer durables in the country, has partnered with Leader Group of Companies to be the official distributor for Riyelta batteries in Sri Lanka. The recently....

Sri Lanka Insurance partners with Toyota Lanka

Sri Lanka Insurance Corporation (SLIC) recently entered into a strategic partnership with Toyota Lanka (Pvt.) Ltd (TLPL) to provide greater convenience for Sri Lanka Insurance Motor Plus...

Misinformation hurting tea industry reputation: RPCs

Local and international media highlighting the plight of the estate sector workers, particularly in light of the economic crisis, have adversely impacted the reputation of Sri Lanka’s tea industry, as an incorrect portrayal....

Local tech start-up unveils SL’s first virtual influencer ‘Chubs’

Sri Lankan tech start-up CreativeHub Global has introduced the country’s first ever virtual influencer named ‘Chubs’.

New sustainable niche strategy launched to re-energise tourism sector

The United States Agency for International Development (USAID) and Sri Lanka Tourism Development Authority (SLTDA) recently launched a sustainable niche strategy to “re-energise” the tourism sector.

Banks call for urgent development of insolvency regime as loan defaults soar

Sri Lanka Banks Association (SLBA) representing all commercial banks in the country yesterday stressed the urgent need for the development of an effective insolvency regime in response to the sharp rise in loan defaults in the country.

World Bank set to approve US$ 700mn for Sri Lanka next week - sources

RUETERS: The World Bank is likely to approve US$ 700 million in budgetary and welfare support for Sri Lanka at its next board meeting on June 28, sources told Reuters, the biggest funding tranche for the crisis-hit island nation since an IMF deal in March.

Sri Lanka now able to boost trade with UK as DCTS goes live

Sri Lanka will be able to improve trading with the United Kingdom as the new Developing Countries Trading Scheme (DCTS) came into force yesterday.

John Keells Group awarded for long-term DEI initiatives

John Keells Group was recently awarded for its long-term initiatives in diversity, equity and inclusion (DEI). John Keells Holdings PLC was the recipient of the award ‘Organisation promoting equity/equality and diversity of the year’ at the “Top50 Professional & Career Women Global Awards – Thirteenth Edition” 2023 held on June 17.

Charitha Subasinghe appointed to NTB board

Nations Trust Bank PLC (NTB) yesterday announced the appointment of Charitha Subasinghe to its board as a Non-Executive Director of the Bank with effect from June 19, 2023. NTB said the Director, Bank Supervision of the Central Bank has approved the appointment in terms of Section 42 of the Banking Act.

Shareholder nod for delisting Singapore-based Goodhope Asia’s local subsidiaries 

Shareholders have approved the resolutions to delist four subsidiaries of Singapore-based Goodhope Asia Holdings Ltd, the holding company of Carson Cumberbatch PLC, at the Extra Ordinary General Meetings (EGMs) held yesterday.

Vish Govindasamy appointed to HNB board

Hatton National Bank (HNB) has announced the appointment of Vish Govindasamy to its board as an Independent Non-Executive Director with effect from June 16, 2023.

Government rules out any prospects of relaxing ban on vehicle imports this year

“Once the economy and foreign reserves rebound to pre-crisis levels, we can then go ahead with lifting the ban on vehicle imports”- State Minister of Finance Shehan Semasinghe

No final decision on DDO yet

As a final decision on domestic debt optimisation (DDO) is yet to be made, the government yesterday urged interested parties to refrain from making speculatory comments that undermine the stability of financial markets.

Role of alternative financing mechanisms to address Sri Lanka’s debt overhang

The common path followed by almost all IMF member countries in response to sovereign debt crises in recent decades, was to enter into an IMF supported stabilisation and structural adjustment programme. Sri Lanka has been a country that has

Amana Bank expands network to 55 branches

Amana Bank announced the expansion of its network across the island, now reaching a remarkable total of 55 physical locations.

ComBank arrives in Kantale with 271st branch

Kantale in Sri Lanka’s Eastern Province has become the latest town to receive state-of-the-art banking facilities from the Commercial Bank of Ceylon.

Pan Asia Bank empowers SMEs with financial management skills

Pan Asia Bank held a workshop recently for its SME customers on the topic of ‘Financial Management’ to enhance financial literacy through group-based assignments.

HNB honoured as Best Retail Bank in Sri Lanka for 13th year

HNB PLC was once again was recognized as the undisputed leader in retail banking, when it was awarded the Best Retail Bank in Sri Lanka Award for the 13th consecutive occasion at the Asian Banker Global Excellence in Retail Financial Services Awards 2023.

SL able to boost trade with the UK as new trading scheme comes into force

Sri Lanka will be able to improve trading with the United Kingdom as the new Developing Countries Trading Scheme (DCTS) comes into force from today. Sri Lanka is among the 65 countries that would benefit from the new facility.

HSBC forecasts Central Bank to slash key rates by 500bps over next 12 months

HSBC Global Research has forecast further 500 basis points rate cut in Sri Lanka over the next four quarters after the country’s Central Bank.....

SL meets 29 IMF commitments; falls short on 3 by end-May: Verité Research

Sri Lanka had met 29 of the 100 trackable commitments of the International Monetary Fund (IMF) programme and had failed on three....

New Rs.450mn passenger terminal at KKS Port unveiled

Sri Lanka has unveiled a new passenger terminal at the Port of Kankesanthurai (KKS Port), Jaffna, at a cost of Rs.450 million....

HIP invests US$ 8 mn in new RoRo yard

With more roll-on-roll off (RoRo) ships calling at the Hambantota International Port (HIP), the port will be adding a further 5,000 slots....

Local auto part makers optimistic about growth as rates on declining path

Sri Lanka’s automotive component manufacturers are optimistic about growth following the Covid-19 pandemic and the economic crisis....

Ambeon to sell 50.1% stake in Dankotuwa Porcelain to Ceyline for Rs.2.3bn

Ambeon Holdings PLC has entered into a share sale and purchase agreement with Ceyline Investments Ltd. to dispose the majority equity....