Hayleys triggers mandatory buyout of 59% stake in Harischandra Mills

Hayleys PLC yesterday initiated a mandatory offer to acquire the remaining 1,140,654 ordinary voting shares, representing 59.42 percent of the issued shares of Harischandra Mills PLC, following its recent purchase of a 40.58 percent stake in the company.

Kusal Jayawardana appointed as Lanka Ventures and LVL Energy Fund Chairman

Lanka Ventures PLC has appointed investment banker Kusal Jayawardana as its Chairman, alongside his appointment to the same role at its subsidiary LVL Energy Fund PLC.

September tea output dips 9% YoY

Tea production fell sharply in September 2025, though the cumulative output for the first nine months of the year remained slightly ahead of last year, the data compiled by Forbes & Walker Research showed.

ComBank receives Global Finance ‘Best Bank’ award in Washington DC

Commercial Bank of Ceylon was formally presented the Global Finance ‘Best Bank in Sri Lanka’ award recently, at the magazine’s annual awards ceremony held, as customary, during the IMF/World Bank Annual Meetings in Washington DC.

Sri Lanka to sign UN convention against cybercrime

The Cabinet approval was given this week to sign the United Nations Convention against Cybercrime (UNCC), a significant global accord aimed at combating serious cyber offenses.

Indices close on a mixed note

The ASPI edged up as a result of price gains in counters such as Colombo Dockyard, Sampath Bank and Central Finance Company with the turnover crossing Rs. 6.6 Bn.

Subdued secondary market with controlled selling pressure

The secondary market maintained its subdued momentum yesterday, characterised by low trading volumes and moderate selling being observed in the 2028 maturities.

HIP strengthens role as regional hub with 151% volume growth

Cargo volumes at Hambantota International Port (HIP) have surged by 151 percent year-on-year, with throughput reaching 6,028,493 metric tons by September 2025 compared to 2,397,971 metric tons in the same period last year. This was achieved despite operational challenges triggered by lifting the ban on local vehicle imports. With the lifting of import restrictions, we experienced elevated congestion and clearance delays—straining yard space, equi

SLEIS 2025 to feature capital markets as ‘catalyst for growth’

Day One of the Sri Lanka Economic & Investment Summit 2025, will examine how equity and debt markets can support the country’s economic expansion while boosting investor confidence, under the theme “Capital Markets: Catalyst for Growth”.

Lanka Rating Agency assigns ‘A+ (f)’ Stability Rating to Astrue Money Market Fund

Lanka Rating Agency Ltd (LRA), Sri Lanka’s independent credit rating authority, has assigned an initial fund stability rating of ‘A+ (f)’ with a Stable Outlook to the Astrue Money Market Fund, managed by Asset Trust Management (Pvt) Ltd.

Prime Group unveils integrated technology ecosystem for novel property experience

Pioneering digital solutions to transform the property ownership experience, Prime Group has unveiled a revolutionary suite of digital tools following a comprehensive five-year digitalization journey in procurement, construction, project management, and customer workflowsto transforms how Sri Lankans embrace their property dreams.

Union Assurance wins Gold at ‘Dragons of Sri Lanka 2025’

Union Assurance announced its triumph at the Dragons of Sri Lanka Awards 2025, securing a Gold Dragon for its transformative brand campaign titled ‘Exit Insurance. Enter Progress.’

JF Packaging Investor Forum draws strong interest ahead of IPO

JF Packaging Limited successfully hosted its Investor Forum on October 21 at The Studio at Cinnamon Life, attracting strong participation from both domestic and international investors. The event brought together high-net-worth individuals, retail investors, institutional funds, and industry analysts, offering them an in-depth look at the company’s operations, growth strategies, and sustainability-led innovations.

SLT-Mobitel clinches record five wins at 2025 International ARC Awards

SLT-Mobitel was recognised on the global stage, at the 39th Annual International ARC Awards, the world’s largest and most respected competition for annual reports, clinching five honours of three Gold and two Bronze, in multiple creative and technical categories.

New Zone Holdings expands island-wide presence with Kandy branch opening

New Zone Holdings (Pvt) Ltd, established in 2011, is an established island-wide distributor in Sri Lanka’s automotive aftermarket.

NDB Bank excels at NBQSA 2025 with dual wins

National Development Bank PLC (NDB Bank) continues to lead Sri Lanka’s digital transformation journey, earning two recognitions at the National Best Quality Software Awards (NBQSA) 2025, hosted by the BCS The Chartered Institute for IT (Sri Lanka Section).

Big Bold Brave 2025 – Harvard APAC Regional Conference returns to Sri Lanka

The Harvard Club of Sri Lanka announced the return of ‘Big Bold Brave 2025, (BBB 2025),’ a premier thought leadership conference to be held from 12 to 14 November 2025 at Cinnamon Life – City of Dreams, Colombo. Bringing together over fifteen Harvard Clubs across the Asia-Pacific (APAC) region, the event will unite official alumni organisations of Harvard University in a powerful collaboration to shape the future of ideas and leadership in the r

Eswaran Brothers launches empowerment programme to elevate women in tea industry

Eswaran Brothers has launched a pioneering gender inclusion initiative designed to elevate women into leadership roles across the tea industry.

Vehicle importers urge 6-month registration window for regular imports, 1 month for personal

The Vehicle Importers Association of Lanka (VIAL) has urged the government to extend the current three-month vehicle registration period for regular importers to six months, while reducing the registration window for personal imports to one month.

SL air travel rebounds with 7.5 mn passengers in nine months

The local aviation industry recorded steady growth between January and September 2025, reflecting a continued post-pandemic rebound in travel connectivity and tourism demand.

National consumer prices pick up 2.1% in September on rising food prices

Consumer prices measured by the broader National Consumer Price Index picked up pace in September in a mirror image of how the Colombo prices changed for the same month.

Sri Lanka must lift investment rate above 30% for faster growth: Indian economist

Sri Lanka must actively explore avenues to raise its investment rate to above 30 percent, if it is to return to a growth trajectory of 6 percent to 7 percent, as the current level of around 20 percent is insufficient for rapid expansion, a top Indian economist said.

Tourist arrivals surpass 100,000 mark in first 20 days of October

Tourist arrivals surpassed the 100,000 arrival mark within the first 20 days of October 2025, provisional data from Sri Lanka Tourism Development Authority (SLTDA) showed.

Uga Halloowella ranked among Asia’s best hotels by Condé Nast Traveller readers

Uga Resorts’ boutique property Uga Halloowella has been recognised as one of the best hotels in Asia, ranking fifth in the ‘Rest of Asia’ category at the 2025 Condé Nast Traveller Readers’ Choice Awards.

Week begins in green

The ASPI closed in green as a result of price gains in counters such as Central Finance Company, Co-Operative Insurance Company and Harischandra Mills with the turnover crossing Rs. 7.4 bn.

Yield curve holds firm as market stays quiet at week’s onset

Following a long weekend, the secondary market opened the week on a notably quiet note yesterday, characterized by ultra-thin trading volumes.

Sri Lanka nears EU Geographical Indication status for Ceylon Tea

Sri Lanka stands to gain a powerful legal instrument to protect Ceylon Tea by registering it as a Geographical Indication (GI) with the European Union (EU), as it will help strengthen consumer confidence and recognise the people whose expertise and dedication have contributed to its reputation, French Ambassador to Sri Lanka and the Maldives Rémi Lambert said.

Sri Lanka-Greater Mekong Business Council holds 14th AGM

The 14th Annual General Meeting (AGM) of the Sri Lanka-Greater Mekong Business Council (SLGMBC) of The Ceylon Chamber of Commerce was held recently, at Hilton Colombo Residence.

Janashakthi Finance-Toyota Lanka launch strategic vehicle leasing partnership

In a landmark collaboration set to reshape vehicle ownership in Sri Lanka, Janashakthi Finance PLC and Toyota Lanka (Pvt.) Ltd have entered into a strategic partnership through the signing of a memorandum of understanding recently.

Maharaja Foods to raise Rs.112.5mn via rights issue

Maharaja Foods PLC said on Friday that its board of directors had approved a rights issue of 12.5 million ordinary shares, at Rs.9 each, equivalent to one new share for every 10 existing shares, subject to shareholder approval.