SPAR supermarkets celebrate five years of excellence in service

SPAR supermarkets Sri Lanka celebrated the culmination of five years of excellence in service and product standards with an awards....

New Anthoney’s Group expands production with a further processing plant

New Anthoney’s Farms (Private) Ltd, one of the country’s leading poultry producers with a knack for innovation and sustainability, recently....

Hayleys Solar partners with Lumala to revolutionise e-mobility sector

Hayleys Solar, the renewable energy arm of Hayleys Fentons, in partnership with Lumala, a pioneering bicycle brand in Sri Lanka....

Kia Motors Lanka relaunches website

Kia Motors (Lanka) Limited recently relaunched its website with an array of new navigational features, including scrolling videos, captivating....

IMF expects SL to complete debt restructuring exercise by September-October

The International Monetary Fund (IMF) expects Sri Lanka to complete the debt restructuring process by the first review of the country’s US $ 3 billion programme, which is scheduled for September-October.

BOC posts subdued 1Q performance amid unprecedented challenges

Bank of Ceylon (BOC) has reported Rs.3.3 billion of profit before tax for the three-month period ended on March 31, 2023, amidst the unprecedented challenges continued to prevail from the previous year.

ComBank 1Q performance becomes casualty of wild swings in interest and exchange rates

Commercial Bank of Ceylon PLC became a casualty of the sharp swings in the interest and exchange rates in the last 12 months, as the country’s biggest private sector lender reported subdued performance in the first three months of 2023.

SLT 1Q revenue flat; profits impacted by higher operating expenses, finance costs

Sri Lanka Telecom Group (SLT Group), the national ICT solutions provider, recorded positive consolidated revenues of Rs.26.6 billion for 1Q 2023, an increase of 2.1 percent compared to the same period last year.

People’s Bank denies social media claims on loan write-offs

People’s Bank yesterday denied the views expressed on the bank’s non-performing loan write-offs as shared in certain social media groups.

Higher exchange losses hinder Sampath Bank 1Q performance

Sampath Bank PLC reported subdued profits in the March quarter (1Q23), as the exchange losses weighed on its performance as seen with other big lenders in the country.

HNB reports strong 1Q on higher margins despite absence of growth

Hatton National Bank PLC (HNB) reported solid financial performance in the three months to March 2023 (1Q23), on the back of fattened margins as rates soared last year, giving a boost to the net interest incomes of banks but the growth turned negative as they tightened credit standards.

Manufacturing activities slow considerably in April following seasonal pattern

Following the seasonal pattern, Manufacturing PMI decreased to 34.7 in April 2023, indicating a month-on-month contraction in manufacturing activities. Accordingly, the Production, New Orders, Employment and Stock of Purchases sub-indices declined during April compared to the seasonal peak in March.

reignite sri lanka 2023 business forum to be held in Melbourne tomorrow

The CA Sri Lanka – Australia Chapter Inc. announces its first business forum, Reignite Sri lanka 2023, in collaboration with the Consulate General of Sri Lanka in Melbourne, Australia, scheduled to be held at Crown Melbourne, on Wednesday, May 17, 2023.

CSE signs MoU with University of Moratuwa

The Colombo Stock Exchange (CSE) recently signed a memorandum of understanding (MoU) with the University of Moratuwa, to formalise collaborative efforts to improve financial literacy among undergraduates in Sri Lanka.

National Chamber felicitates past presidents

The National Chamber, in its history of 75 years, organised a felicitation ceremony for the past presidents of the chamber.

Hela Apparel Holdings receives ISO 14064-1:2018 certification for second consecutive year

Affirming the company’s unwavering dedication to ensuring a trajectory towards net zero by 2050, Hela Apparel Holdings received the ISO 14064-1:2018 certification for quantification and reporting of greenhouse gas emissions across the group, for the second consecutive year.

Heineken Lanka adjudged Great Place to Work

Heineken Lanka Limited, the Sri Lankan subsidiary of The Heineken Company, has received recognition as one of the Best Workplaces in the Manufacturing and Production Industry of Sri Lanka for 2023 by Great Place to Work, a globally recognised authority that identifies and studies the best workplaces in over 150 countries and territories.

DIMO honoured with Silver Trophy at Presidential Environment Awards

DIMO took home the Silver Trophy in the Vehicle Servicing category, at Presidential Environment Awards 2021-2022, which was held recently.

Coca-Cola Sri Lanka wins big at SLIM Kantar People’s Awards 2023

Coca-Cola Sri Lanka, a leading beverage brand that has been in the country for over 60 years, has been awarded the prestigious Beverage Brand of the Year and Youth Choice Beverage Brand of the Year awards, at SLIM Kantar People’s Awards 2023, hosted by the Sri Lanka Institute of Marketing (SLIM).

People’s Bank denies social media claims on loan write-offs

People’s Bank has denied views expressed on the Bank’s non-performing loan write-offs as shared in certain social media groups.

Three more promotional events to entice Chinese travelers in May

To entice Chinese travelers to visit the island nation, the Ministry of Tourism and the Sri Lanka Tourism Promotions Bureau (SLTPB) has planned a series of activities to be carried out towards the second half of May.

BOI under spotlight as nearly half of projects become inactive

With the number of active Board of Investment (BOI)-approved companies falling by nearly 50 percent since the inception of the agency,,,,

Samurdhi welfare scheme empowered mere 1% of recipient families: Siyambalapitiya

Indicating a complete failure of the 28-year-old Samurdhi welfare scheme, the government revealed that only one percent of recipient families...

SriLankan Airlines breaks even for first time in over a decade

As per unaudited accounts, the airline made US$ 3mn profits in FY ended March 31, 2023 National carrier, SriLankan....

Hambantota Port launches Duty-Free Complex

The Hambantota International Port (HIP) recently launched its Duty-Free Complex with the opening of two duty free shops within the port’s....

NDB reports strong March quarter despite de-growth in assets 

National Development Bank PLC reported strong financial performance in the three months to March 2023 and remains cautiously....

Batik Air reinstates daily services between Colombo and Kuala Lumpur

Batik Air, formerly known as Malindo Air, recently announced that all bookings are open for its new reinstated services between Colombo....

Months-long gains in workers’ remittances continue in April

Remittances from migrant Sri Lankan workers continued their months-long upwards streak in April, becoming one among the few....

People’s Bank rewards ‘Vaasi Kotiyai’ prize winners

HNB Finance expands footprint with new branch in Piliyandala

HNB Finance Plc has announced the launch of its 78th branch in Piliyandala, as part of its continued efforts to improve accessibility and....