Fresh tourism campaign launched by top industry players to entice Indian market

SriLankan hopeful of completing re-fleeting process in 2-3 months

National carrier SriLankan Airlines is expecting to wrap up its re-fleeting exercise, which got the Cabinet approval last year, in the next two to three months, acquiring at least seven aircraft in the first phase, a top official said.

Sri Lanka promises EU to present plan to lift import restrictions by June

Sri Lanka has promised the European Union (EU), the country’s second largest trading partner, to present a plan by June to lift the import restrictions that came into place in 2020 as a measure to hold on to the fast-depleting foreign exchange reserves.

Treasury bill yields buck rising trend at biggest primary auction in history

The weeks-long run-up in the Treasury bill yields ended yesterday at the weekly auction, which sold a record Rs.180 billion in bills, the largest auction in the history of bill auctions.

Singapore-based Goodhope Asia’s four subsidiaries announce plan to delist

Four more delistings are on the cards for the Colombo Stock Exchange (CSE) this year, with four subsidiaries of Singapore-based Goodhope Asia Holdings Ltd, the holding company of Carson Cumberbatch PLC, making another attempt to delist from the CSE.

Tea exports continue to decline in April

Tea exports continued to decline in April, following the downward trend seen in the previous months of the year.

Teejay Lanka 4Q performance hit by higher sales costs, taxes and finance expenses

Sri Lanka’s first multinational textile manufacturer Teejay Lanka PLC saw its earnings for the quarter ended on March 31, 2023 (4Q23) declining, despite the gains at the top line, amid higher sales costs, finance expenses and increased taxation.

CICT attracts new service to Colombo, adds connectivity on USA route

Colombo International Container Terminals (CICT) has announced the maiden call of a new service to the Port of Colombo that will connect Sri Lanka with the East Coast of the United States via Asia, strengthening another important trade route for exporters and importers and making Sri Lanka more accessible to global markets.

Dr. Harsha Cabral assumes duties as NSB Chairman

Legal luminary Dr. Harsha Cabral assumed duties as Chairman of state-run National Savings Bank (NSB) yesterday.

HNBA Group records impressive 30% GWP growth in 1Q23

The HNBA Group delivered a strong financial performance in 2022, setting a high bar for the company to maintain and meet in 2023.

HNB Finance unveils new Gold Loan Unit at Nawalapitiya branch

Responding to the increasing demand for gold loan services in the Kandy district, HNB Finance introduced a newly dedicated Gold Loan Unit at its Nawalapitiya branch located at No. 32/2, Ambagamuwa Rd, Nawalapitiya.

Chanaka Liyanage takes over as Chief Agency Officer of AIA Sri Lanka

AIA Sri Lanka announced the appointment of Chanaka Liyanage as the company’s Chief Agency Officer, effective 01st April 2023.

Amãna Bank offers best pricing and extended tenures for leasing, housing & personal financing

In a situation where many people are forced to postpone their financing needs due to limited availability of financing solutions, very high rates and minimal time period being allowed for repayment, impacting their affordability, Amana Bank has come forward offering an attractive solution beyond all expectations.

DIMO joins ‘Construction, Power & Energy 2023’ expo as Platinum Sponsor

DIMO has announced that it will be the platinum sponsor for the highly anticipated Construction, Power & Energy 2023.

People’s Bank presents ‘Vaasi Kotiyai Remittance Bonanza’ grand prize

People’s Bank awarded the grand prize of 10 million rupees to M.A. Suranjana Perera, as part of its highly anticipated ‘People’s Remittance Vaasi Kotiyai Bonanza’ campaign.

The Residencies - Kotte by ICC provides rare, refined, and regal experience to customers

ICC Pvt Ltd, having completed 3500 housing units stands tall in being the only contractor plus Developer in Sri Lanka, with whom one can assure an investment worth a lifetime.

Solving Sri Lanka’s housing crisis: The urgent need for affordable and social housing initiatives

Sri Lanka needs a social housing plan. Over the years, I have repeatedly emphasized the detrimental impact of the housing shortage and high costs in Sri Lanka, particularly in the Colombo Metropolitan Area, on the country’s economic growth.

Citra, NIA partners to strengthen SL’s social innovation eco-system

To help Sri Lanka advance the national development agenda to tackle some of the most pressing challenges faced in society, efforts are underway to strengthen the social innovation ecosystem in the island nation.

Japan provides US$ 4.6mn through FAO to boost paddy production in Maha season

The Japanese government through the Food and Agriculture Organization of the United Nations (FAO) is providing US$ 4.6 million to strengthen the production capacity of smallholder paddy farmers in identified districts of the dry and intermediate zones of Sri Lanka.

Tourist arrivals continue to dip

Tourist arrivals to the island nation continue to slow down with the number of weekly international travellers entering Sri Lanka dropping...

CEB still deep in red despite sharp tariff hikes

Despite the sharp upward revisions in electricity tariffs, the financial performance of the Ceylon Electricity Board (CEB) remains dismal....

Port City eyes US$ 14bn worth investments as construction phase begins

Port City Colombo (PCC), the sprawling 269-hectare area of reclaimed land, is set to begin its construction phase, which is poised to attract investments worth US$ 14 billion, with its infrastructure development phase nearing completion.

DFCC Bank reports strong 1Q amid higher margins

Despite adverse market conditions, DFCC Bank PLC delivered strong March quarter (1Q23) results on the back of fattened margins...

Dialog March quarter profits boosted by exchange gains

Dialog Axiata PLC, the market leader in mobile telephony space posted higher earnings for the quarter ended March 31, 2023...

BOI clarifies on Mirror Business story

BOI Chairman Dinesh Weerakkody referring to a recent article published in Mirror Business claiming that half of the BOI projects...

China should play formal role in Sri Lanka’s debt restructuring: US official

China should play a formal role in the common framework for creditor talks set up by India and the Paris Club that is aimed.....

Indices close in red

Indices closed in red as a result of price losses in counters such as Sampath Bank, National Development Bank and Hatton National Bank...

Lanka Hydraulic Institute to export hydro-engineering services to Liberia

The United Nations Development Programme (UNDP) has recently entrusted Lanka Hydraulic Institute (LHI) to conduct a hydro....

Roshell Manpower Agency wins five-star award at Golden Awards Ceremony

Roshell Manpower Agency, one of Sri Lanka’s leading foreign employment agencies, was honoured with the five-star award at the Golden...

Cargills Village to Home in Athurugiriya this weekend

Cargills began its Village to Home programme over three years ago to strengthen the country’s small and medium entrepreneurs....