Seylan Bank raises Rs.5bn via debenture issue

Treasury bill yields rise for second week

For the second week Treasury bill yields rose across all three tenors at Wednesday’s auction, the data released by the Central Bank showed.

Hambantota Port breaks new ground in RO-RO transshipment

​The Hambantota International Port (HIP) last week handled over 900 units of the latest BMWs transshipped from the Port of Koper - Slovenia to the Port of Pyeongtaek in South Korea.

Asian markets swing as inflation, rates worry investors

Wall Street closed relatively flat following mixed corporate results, and as a Federal Reserve report said that the US economy was “little changed” in recent weeks.

Monthly producer prices decline breaking months-long streak of increases 

People’s Bank self-banking units facilitate over Rs.7.5tn worth transactions during Avurudu season

People’s Bank recently announced that it had facilitated over 8 million transactions worth over Rs.7.6 trillion during this year’s Sinhala and Tamil New Year festivity period from April 1 to 15, through its island-wide network of self-service automated machines.

SL & India to resume ferry service strengthening ties

Sri Lanka is scheduled to resume passenger ferry service with India at the end of April not only providing affordable transport facilities between the two neighbours but also further strengthening people-to-people relations.

Employees go before Supreme Court against proposed sale of SLT

The Sri Lanka All Telecommunication Employees Union yesterday filed a fundamental rights (FR) petition in the Supreme Court, seeking an order restraining the Treasury Secretary from taking any steps to divest the shares held by him in Sri Lanka Telecom PLC (SLT).

Tea output dips for third straight month in March

Sri Lanka’s tea production is yet to pick up after being hit by the poorly thought-out fertiliser policy, with the output contracting for three consecutive months in 2023.

Sri Lanka’s industrial activity struggles to return to pre-crisis levels

Sri Lanka’s industrial activity is still to return to pre-crisis levels, as the demand destruction policies in place at home are continuing to take their toll, while the country’s major export, apparel, is facing a temporary demand slowdown amid monetary tightening and higher inflation in major markets such as the US and Europe.

Link Natural’s Samahan now served onboard SriLankan Airlines

Link Natural, a subsidiary of the CIC group, has partnered SriLankan Airlines, the national carrier, to introduce Link Samahan, a trusted herbal drink, as an onboard beverage choice.

YoungShip Sri Lanka elects first female chairperson

YoungShip Sri Lanka is shaping the future of the country’s maritime industry by empowering young professionals through opportunities to learn, share and collaborate whilst being part of a global network.

Thimira Godakumbura new MD/CEO at Colombo Dockyard

Colombo Dockyard PLC yesterday announced the appointment of Thimira Samantha Godakumbura as the company’s MD/CEO, with effect from April 19, 2023, after the retirement of D.V. Abeysinghe from the MD/CEO position.

DIMO realigns healthcare operations under ‘DIMO Healthcare’ identity with recent foray into pharmaceuticals

Diversified conglomerate DIMO, with its recent expansion into the pharmaceutical sector, has now realigned all its healthcare operations under the new identity of ‘DIMO Healthcare’.

HSBC’s largest shareholder outlines bank break-up strategy

HSBC’s largest shareholder ramped up pressure on the bank to break up its business on Tuesday, saying it was underperforming and has failed to “address key business model challenges”.

Ceylinco Life wins Sri Lankan hearts to be most popular life insurer for 17th year

Sri Lankan consumers have chosen Ceylinco Life, which recently celebrated its 35th anniversary, as the most popular life insurance company in the country for an unprecedented 17th consecutive year, leading to the life insurance leader receiving the prestigious SLIM Kantar Peoples Award at the awards gala hosted by the Sri Lanka Institute of Marketing (SLIM) recently.

BOC relocates Pinnawala branch with seamless digital banking experience

Opening doors to a seamless and reliable banking experience accompanied with digital banking for its customers, Bank of Ceylon’s (BOC) Pinnawala branch was recently relocated to convenient and spacious locations equipped with CRM facilities.

Singer Finance expands network with 50th branch in Jaffna

Singer Finance PLC, a subsidiary of Singer Sri Lanka and the Hayleys group, is set to mark a significant milestone as it celebrates the opening of its 49th and 50th branches in Nelliady and Jaffna, respectively.

Sri Lanka Insurance partners with MegaPay

Sri Lanka Insurance Corporation (SLIC) entered into a strategic partnership with MegaPay (Pvt.) Ltd recently to provide greater convenience for SLIC customers to make real-time payments.

People’s Bank charters Toastmasters Club for employee development

People’s Bank, one of the leading banks in Sri Lanka, has launched a Toastmasters Club to provide its employees with an opportunity to develop their leadership and communication skills.

Amana Bank promotes Harindra Obeysekere as Treasury Head

Experienced treasury dealer Harindra Oberysekere has been promoted as Amana Bank’s Head of Treasury and Financial Institutions while being inducted to the bank’s Management Committee.

Consider bank consolidation to achieve financial sector stability

“Maintaining a sound and adequately capitalised banking system is important. Implementing a bank recapitalisation plan and strengthening financial supervision and crisis management framework are crucial to ensure financial sector stability.” Press release included in the IMF country report No. 23/116, released in March 2023.

Tourist arrivals top 56,000 in first sixteen days of April

Tourist arrivals for the first 16 days of April topped 56,000, bringing the total number of international visitors entering the country for the year closer to the 400,000 mark. Provisional data released by the Sri Lanka....

Sri Lanka to further relax import controls: Siyambalapitiya

State Minister of Finance Ranjith Siyambalapitiya yesterday said that measures would be taken to further relax import restrictions on many other goods in the future.

Govt. plans to spend record Rs.206bn on social welfare

The government plans to spend a record Rs.206 billion per annum in welfare expenditure starting from this July under a new programme prepared in line with Welfare Benefits Board Act to assist the poor and...

Indices close in red

Indices closed in red as a result of price losses in counters such as Commercial Bank, LOLC Holdings and Sampath Bank with the turnover crossing Rs. 1.1 bn. High net worth and institutional investor participation

Lalith Seneviratne steps down as SLT Group CEO

Lalith Seneviratne will relinquish his duties as Sri Lanka Telecom PLC (SLT) Group CEO with effect from April 30, 2023 upon completion of his three-year term. However, he will assume the status...

Tim Cook inaugurates first Apple store in India

Apple Chief Executive Tim Cook has launched the company’s first retail store in India in the financial capital Mumbai. Videos showed Cook waving to customers and opening....

China’s economy rebounds after pandemic measures lifted

China’s economy grew faster than expected in the first three months of the year, as the country emerged from its tough Covid restrictions. Compared to the same period last year...

Asian markets drop as China growth data fails to impress traders

Asian markets mostly fell yesterday, even as data showed China’s economy grew far more than expected in the first quarter after activity resumed following three years of painful zero-Covid measures. The blockbuster 4.5 percent...