HNB, Hemas and SLT added to the S&P SL 20 index

The Colombo Stock Exchange (CSE) last Friday announced three new inclusions to the S&P SL 20 index made by S&P Dow Jones....

LankaPay partners Nepal’s Fonepay for cross-border interoperable payment system

In a groundbreaking move towards expanding its footprint regionally, LankaPay, the national payment network of Sri Lanka recently...

Entrepreneurs’ Organisation to host South Asia Leadership Conference in Colombo

Entrepreneurs’ Organisation’s (EO) South Asia Leadership Conference (SALC) is all set to take place in Colombo on June 25, for the very first...

CIPM National HR Conference themed ‘Navigating Dire Straits’ to kick off on June 21

CIPM Sri Lanka has organised its flagship event, the National HR Conference (NHRC), South Asia’s largest and most inclusive HR conference....

CFA Society SL Capital Market Awards 2023 to highlight smart investing for resilient portfolios

Organised by the CFA Society Sri Lanka, the 10th annual CFA Capital Market Awards, scheduled for June 21, 2023, promises to be a standout....

All Island Dairy Association holds 4th AGM

The fourth Annual General Meeting (AGM) of the All Island Dairy Association (AIDA) was recently held on the Ceylon Chamber...

Colombo Tea Auction sees rupee tea prices strengthening this week

In the backdrop of the depreciating Sri Lankan rupee vis-à-vis the US dollar, the Colombo Tea Auction this week saw the rupee tea prices strengthened, following the improved widespread demand. Consequently, a lesser volume of teas remains unsold, the tea brokers said.

Beyoncé blamed for keeping inflation high in Sweden. Is Springsteen next?

CNN: Swedish consumers now have Beyoncé to blame for their bills, bills, bills.

Uber One global membership now in SL

Ride-sharing app Uber announced yesterday the launch of the popular membership programme Uber One in Sri Lanka.

Emirates announces key appointments for SL and Maldives operations

Rashid Al Ardha appointed as Manager for Sri Lanka and Maldives; Chandana de Silva to assume new role as Manager Government Liaison – Sri Lanka and Maldives

CMTA proposes sustainable approach to vehicle imports

CMTA Chairman Charaka Perera The Ceylon Motor Traders Association (CMTA) has come up with a proposal to resume vehicle imports, with a focus on benefiting the economy, meeting mobility needs of masses and ensuring government revenue.

Sri Lanka told to use global economic slowdown to rethink growth strategy

Sri Lanka needs to make efforts to use the ongoing global economic slowdown as an opportunity to rethink its growth strategy, as its economy is highly vulnerable and remains at a disadvantage compared to many of its competitors and peers, asserted an international economist.

NDB Joins hands with Trinity Rugby and the Bradby Shield For the Third Consecutive Year!

NDB Bank continues its efforts for the advancement of sports through the empowerment of youth. In its latest effort to further this cause, NDB Bank has partnered with Trinity Rugby as the Official Team Sponsor of Trinity Rugby season.

Sri Lanka‘s first electric taxi service ‘E-drive’ launched

Turning a new page in passenger transport, David Pieris Motor Company (Private) Limited, Sri Lanka’s largest automotive company, yesterday launched E-drive, a model electric three-wheeler (tuk-tuk) taxi service for public transportation for the first time in Sri Lanka.

Rayynor silva ups Sampath Bank stake to over 7%

Electronic media owner and businessman Rayynor Silva yesterday upped his stake in Sampath Bank, Sri Lanka’s third largest private bank in terms of assets, to over 7 percent, stock market sources said.

Ambeon Holdings disposes Ceylon Leather Products for Rs.650mn

Ambeon Holdings PLC yesterday announced the divestment of Ceylon Leather Products.

Economy contracts 11.5% in first quarter

Sri Lanka’s Gross Domestic Product (GDP) is estimated to have contracted 11.5 percent in the first quarter of 2023 from a year ago amid high interest rates, increased input prices, import restrictions and lower earnings from apparel exports, the Department of Census and Statistics (DCS)

Sri Lanka’s manufacturing activity mired in unyielding decline due to hostile policies

The Purchasing Managers’ Index (PMI) for May showed mixed performance of manufacturing and services activities reflecting changing dynamics in the broader economy although it appears to be still in decline amid persistently elevated prices and interest rates which undermine both business and consumer spending.

Fitch Ratings reaffirms People’s Bank’s National Rating of ‘A(lka)’/RWN

Global credit rating agency, Fitch Ratings has announced its decision to maintain People’s Bank’s National Rating of ‘A(lka)’ on Rating Watch Negative (RWN) this week.

Sri Lanka‘s first electric taxi service ‘E-drive’ launched

Turning a new page in passenger transport, David Pieris Motor Company (Private) Limited, Sri Lanka’s largest automotive company, yesterday launched E-drive, a model electric three-wheeler (tuk-tuk) taxi service for public transportation for the first time in Sri Lanka.

Hasitha Premaratne appointed to NDB board

National Development Bank PLC yesterday announced the appointment of Hasitha Premaratne to its board as an Independent Non-Executive Director with effect from June 15, 2023.

Blue Diamonds Jewellery Worldwide concludes rights issue with new partnership agreements

Blue Diamonds Jewellery Worldwide PLC (BDJW) has successfully got its trading suspension lifted after displaying positive revenue growth and reducing losses for the nine-month period ending on 31 December 2022. The company’s shares commenced trading from Monday, April 17th, 2023.

Tri-Zen announces successful sale of 75% of inventory

Engineered for the future, the Tri-Zen apartments, located in the heart of Colombo in Union Place, Colombo 2, announced the successful sale of 75 percent of its inventory to date, as the much-anticipated project nears completion by the end of 2023.

Lenovo becomes Sri Lanka’s no. 1 PC brand in CY 1Q23

Lenovo, the global technology leader, yesterday announced its leadership in the Sri Lanka PC industry, with 28.7 percent market share, based on the shipments in CY 1Q23 (January-March).

SLASSCOM Ingenuity Awards 2023 today

The SLASSCOM Ingenuity Awards, celebrating the creativity and ingenuity of various individuals and organisations across different sectors, providin

Prime Group launches 43 By The Sea on Marine Drive

Colombo’s newest most sought-after address is here, with the opening of 43 By The Sea, Marine Drive. More than an average city apartment, this is Prime Group’s most recent venture into curating luxury apartment homes that give Colombo dwellers both a vibrant urban lifestyle and an oasis of calm in the middle of the city, located within convenient distance to the fast-developing Dehiwala town and commercial capital Colombo.

Pharmaceutical industry ready to cut drug prices by up to 13%

While renewing calls for an equitable and fair pricing mechanism, Sri Lanka Chamber of Pharmaceutical Industry (SLCPI) yesterday said the industry stands ready to reduce prices of pharmaceuticals upto 13 percent in line with the recent rupee appreciation under the condition of flexibility for future price increases in case of deprecation of the currency.

CIOB meets President to discuss restarting of construction industry

CIOB President Dr. Rohan Karunaratne thanked President Ranil Wickremesinghe for taking steps for the rapid recovery of the country and construction industry, while presenting the CIOB’s ‘Road Map for Construction Industry 2023/2024’ to discuss and implementation.

Economy contracts 11.5% in 1Q

Sri Lanka’s Gross Domestic Product (GDP) is estimated to have contracted 11.5 percent in the first quarter of 2023 from a year ago, the Department of Census and Statistics said, today.

SL gets first electric taxi service with the launch of ‘E-drive’

Sri Lanka now has its first electric taxi facility, with David Pieris Motor Company (DPMC) having launched today the ‘E-drive’ service.