Cracking the Code: Why women’s innovations are lagging behind in SL

“I do not intend to get a patent right for my invention as I do not want to disclose my research findings and methodologies to the public domain”, stated a female researcher who has discovered a solution for dengue fever.

Tax revenue doubles to Rs.316bn in first quarter

The tax collections by Inland Revenue Department (IRD) rose by a record 216 percent Year-on-Year (YoY) to Rs.316.62 billion in the first quarter of this year driven by changes in the tax policy and gradual....

Urban apartment prices continue upward trend in March 2023: RIUNIT

Sri Lanka’s real estate expert Research Intelligence Unit says Colombo city apartment (all 3 tiers) average prices in rupee terms increased marginally to Rs.62, 956 per Sq.ft in March from Rs. 62,635 per...

Dipped Products launches Rs.1.3bn venture to make high-tech sports gloves targeting US and EU markets

Global pioneers in sustainable integrated glove manufacturing, Dipped Products PLC (DPL), a subsidiary of the Hayleys Group, recently commenced commercial operations at its state-of-the-art manufacturing...

China Merchants Group Chairman visits HIP

The highest ranking official from the China Merchants Group (CMG) visited the Hambantota International Port on an inspection tour of the facility last week. Chairman Miao Jianmin was welcomed...

First Republic Bank says more than US$ 100bn of withdrawals this year

First Republic Bank customers pulled more than US$100 billion (£80bn) from their accounts in the first three months of the year amid concerns about the health of the global banking system. The US bank....

Asian stocks mostly down after mixed session on Wall Street

Asian stocks were mostly down yesterday following a mixed session on Wall Street, with investors still casting about for direction at the start of a week of major announcements. Bourses in New York....

SL to borrow US$ 150mn from WB to bolster financial sector safety net

Cabinet of Ministers has approved a proposal to borrow US$ 150 million from the World Bank (WB) to strengthen the financial and institutional capacity of the country’s financial sector safety....

Market slump continues

The ASPI closed in red as a result of price losses in counters such as Sampath Bank, Ceylon Tobacco Company and Expolanka Holdings with the turnover crossing Rs. 1.1 bn. A similar behaviour ....

HNB ranked among Sri Lanka’s Top 5 Corporates by Business Today for 2022

Sri Lanka’s most innovative bank HNB PLC’s commitment to banking excellence and its resilient performance over the past year, helped to secure a Top 5 position on Business Today Top 40 for...

BOC disposes staggering Rs.174bn through ATM, CDM, CRM network during Avurudu season

Bank of Ceylon (BOC) yet again set a record during Avurudu season with over Rs.174 billion worth transactions taking place in BOC’s very own CDM, CRM and ATM terminals. This record is a testimonial...

Ceylinco Life’s model green branch opens for biz in Matale

Ceylinco Life has opened its latest eco-friendly branch building in Matale on company-owned land, providing the picturesque hill country city a facility custom-designed to meet sustainability specifications ....

JCB International powers LankaPay Technnovation Awards 2023

JCB International, the Japan-based international card scheme, partnered with LankaPay as the Silver Sponsor of the LankaPay Technnovation Awards 2023. Held at Shangri-la...

People’s Bank partners with IFC to strengthen MSME customers

People’s Bank in collaboration with the International Finance Corporation (IFC) is working towards strengthening the financial awareness and financial literacy of micro, small and medium-sized enterprises....

SDB bank relocates City Branch to Union Place

SDB bank, a unique bank with a clear vision to bolster the local economy by providing customised banking solutions to SMEs and all progressive Sri Lankans, recently relocated its flagship City....

LOLC’s Al-Falaah unveils Family First Takaful

Al-Falaah Takaful Life, the alternate insurance services unit of LOLC Life Assurance Ltd, unveiled Family First Takaful Insurance, offering comprehensive financial protection for the entire family, as yet another...

Two million families to receive welfare benefits from July 1

The government will begin to provide relief to about two million families from July 1, under its welfare programme, with specific time frames, Finance State Minister Ranjith Siyambalapiriya said.

Tax revenue doubles to Rs.316bn in first quarter

The tax collections by the Inland Revenue Department (IRD) rose by a record 216 percent year-on-year (YoY) to Rs.316.62 billion in the first quarter of this year, driven by the changes in the tax policy and gradual recovery of economic activities, according to Inland Revenue Department Commissioner General D.R.S. Hapuarachchi.

New Anthoney’s Group expands production with additional processing plant

New Anthoney’s Farms (Private) Ltd recently deployed an additional processing plant as part of its production expansion strategy. With this, the company is able to produce over 200 tons of processed food products to cater to the evolving consumer preferences.

Newly elected FTZMA Executive Committee meets BOI Chairman

Newly elected office bearers of Free Trade Zone Manufacturers’ Association (FTZMA) paid a courtesy call on BOI Chairman Dinesh Weerakkody at his office on April 21st.

Sri Lanka’s first Cardano NFT Collection showcases traditional art and culture

Coin Ceylon, the pioneering blockchain company behind the very first Cardano stake pool and blockchain forum in Sri Lanka, recently presented ‘Yakka’, the 1st ever Cardano NFT Project to originate from Sri Lanka, with a groundbreaking collection of traditional Sri Lankan masks as Cardano NFTs with real life utility benefits.

Tenth annual CFA Capital Market Awards to be held on June 21

The CFA Society Sri Lanka has announced that its signature event, the annual CFA Capital Market Awards, now in its 10th year, is scheduled to be held on June 21, at Cinnamon Grand, Colombo.

COPE and corporate planning for SOEs

Many SOEs were found wanting at recent Committee on Public Enterprises (COPE) meetings, mainly because they had no corporate plans. Strategic organisation-wide planning or Corporate Planning is essential for an organisation to succeed in business or deliver services to the citizens.

Central Bank Independence; how far should we go?

Well known Economics Professor Howard Nicholas said at a recent webinar that “CBSL cannot be independent of the government”.

SL on track to score a haul with tourist arrivals likely to cross 100k mark in April

Sri Lanka tourism is on track to score a haul, with projections indicating that tourist arrivals for the month of April are on track to cross the 100,000 mark for the fourth consecutive month.

Japan provides US $ 3.8mn via UNDP for women’s economic wellbeing

The Japanese government, through the United Nations Development Programme (UNDP), will provide a US $ 3.8 million grant to support the vulnerable smallholder farming families in the Dry Zone districts in the North-Central, North-Western and Eastern provinces, with a focus on women’s economic empowerment and adoption of green agricultural technologies.

Forbes highlights Sri Lanka as ‘bucket-list destination’ for families

Sri Lanka’s fast-reviving tourism sector came under fresh spotlight this week, with Forbes highlighting it as the ‘bucket-list destination’ for families.

ComBank adjudged as Best Bank in Sri Lanka by Global Finance for 21st time

Commercial Bank of Ceylon has been recognised as Sri Lanka’s Best Bank once again by the US-based Global Finance magazine, at its 30th annual awards ceremony for World’s Best Banks 2023, reaffirming the bank’s reputation as the top performer in the country’s financial industry.

BIA opens dedicated immigration counters for foreign travellers

To further smoothen the tourist experience, Sri Lanka opened dedicated counters for foreign travellers arriving at Bandaranaike International Airport (BIA), yesterday.

US $ 58bn withdrawn from Credit Suisse before rescue

Credit Suisse has revealed the scale of the bank run that triggered its state-backed rescue in March.