Colombo Dockyard launches Rs.12.9bn rights issue

Colombo Dockyard PLC announced plans to raise over Rs.12.93 billion via a rights issue, offering 323.4 million new ordinary voting shares, at Rs.40.00 each, as the shipbuilding and repair company seeks to shore up its financial position and address the operational funding pressures.

Shippers’ Council defends freight rule against calls for review

The Sri Lanka Shippers’ Council (SLSC) yesterday mounted a defence of the nation’s state-mandated all-inclusive freight regulation, as the government signals willingness to review the regulation.

Week begins with foreign buying

Indices closed in red as a result of price losses in counters such as Melstacorp, Hatton National Bank and Commercial Bank with the turnover crossing Rs. 2.4 Bn. High net worth and institutional investor participation was noted in C T Holdings, Cargills and John Keells Holdings. Mixed interest was observed in Dipped Products, Access Engineering and Commercial Bank whilst retail interest was noted in Lanka Walltiles, Hela Apparel Holdings and Wata

SLASSCOM courts Indian tech giants with ‘tier-two city’ pitch

Sri Lanka’s IT/BPM industry has unveiled an aggressive new strategy to court the Indian tech giants, positioning the island nation as a premier “alternative tier-two city” for companies looking to expand and diversify their operations. The initiative was announced by the newly elected Sri Lanka Association for Software and Services Companies (SLASSCOM) Chairperson Shehani Seneviratne and is central to a renewed effort aimed at boosting the nation

Thin trading leaves yield curve on a standstill

Trading in the secondary market started the week with subdued activity, leaving the yield curve largely unchanged. Notable trades included the 15.02.2028 and 15.03.2028 maturities trading at the rate of 8.75%, while the 01.05.2028 and 15.06.2029 maturities exchanged hands at the rates of 8.80% and 9.35%, respectively.

Spa Ceylon and Shangri-La Colombo take fine dining to new heights

Luxury Ayurveda chain Spa Ceylon and Shangri-La Colombo, together with Mastercard, took fine dining to new heights by hosting an exclusive multi-sensory, immersive dining experience, on par with international standards.

Imperial College of Business Studies celebrates 40th anniversary

Imperial College of Business Studies (ICBS) marked a significant milestone as it celebrated its 40th anniversary with its university partners, lecturers, corporate partners and staff at a gala event held in Cinnamon Life recently. The college’s history dates back to 1985, where the institution over the years has grown from its beginning as Colombo Business School into one of the country’s leading business schools known for its academic and profe

MCI fertilizers strengthen agriculture in Northern Province

Lanka Bio Fertilizers (Pvt) Ltd, one of Sri Lanka’s leading manufacturers and distributors of Hybrid Pellet Fertilizers, NPK Compound Fertilizers, and Biofertilizers, continues to make significant strides in transforming the agricultural landscape of the country.

SriLankan Airlines and Tourism Malaysia host media familiarisation tour

SriLankan Airlines, together with the Malaysia Tourism Promotion Board, recently hosted a group of Sri Lankan journalists on a familiarisation (FAM) tour of Malaysia, aimed at strengthening travel and tourism ties between the two countries.

Scanwell Logistics hosts AGM in Colombo

Scanwell Logistics hosted its Annual General Meeting (AGM) in Sri Lanka recently, bringing together over 100 senior leaders and delegates from more than 65 global stations.

Sysco LABS Academy codes tech career possibilities for next generation

Sysco LABS recently launched ‘Sysco LABS Academy’, a learning and mentoring initiative that immerses school students in the possibilities and realities of the tech industry and modern workplace dynamics.

IRD seeks to tax non-resident service providers who surpass Rs. 60 million yearly threshold

The Inland Revenue Department (IRD) has announced that all non-resident persons who provide services to customers in Sri Lanka through electronic platforms must register for Value Added Tax (VAT) if their earnings exceed a specified limit.

CSE slides as investors await USA tariff decision

The Colombo Stock Exchange (CSE) closed the trading day on a negative note. As the new week commenced, the market experienced a decline, with investors engaging in profit-taking throughout the session.

Digital services that will be taxed 18% VAT announced

A gazette notification has been issued announcing the list of digital services on which an 18 percent Value Added Tax (VAT) will be imposed with effect from October 01, 2025.

Expect more severe delays if Govt. doesn’t update e-commerce tax rules: Advocata

Sri Lankan consumers and businesses making purchases from overseas online services could face further delays unless the government updates the country’s outdated e-commerce tax rules, the Advocata Institute has warned.

Credit to private sector gains steam in May ahead of full impact from rate cut 

Credit to the private sector by the licensed commercial banks picked up pace in May. This is after a brief slowdown in April caused by the festive season holidays.

Sri Lanka needs permanent negotiators, not ‘retired officers’ for trade wins: Expert

A top Sri Lankan trade economist has called for a strategic overhaul of the nation’s approach to international trade deals, urging investment in a permanent, skilled institutional framework for negotiations rather than relying on ad-hoc teams of retired officials.

June tourism earnings tad higher at US$ 170mn

Earnings from tourism trade rose in June to US$ 169.5 from US$ 164.1 million in May 2025 and US$ 151.1 million in the same month last year as arrivals continued to come in at higher than a year ago levels although fell short of the target levels.

Capital, talent policy overhaul key to US$ 15bn digital economy: Dr. Hans

The Chief Advisor to the President on Digital Economy Dr. Hans Wijayasuriya has called for an urgent overhaul of policies governing capital and talent mobility, declaring such reforms “non-negotiable” to achieve the nation’s ambitious goal of creating a US$ 15 billion digital economy.

Sri Lanka’s proposed beneficial ownership register sparks debate

Proposed amendments to Sri Lanka’s Companies Act of 2007, mandating the creation of public beneficial ownership registers, have ignited considerable discussion within the nation’s business and legal communities.

Suspension of Perpetual Treasuries extended

The Central Bank of Sri Lanka (CBSL) has extended the suspension of Perpetual Treasuries Limited (PTL) from operating as a Primary Dealer for an additional six months, effective 5 July, 2025.

CSE-SEC-SLID-KPMG host Family Business Forum

The Colombo Stock Exchange (CSE), in collaboration with the Securities and Exchange Commission of Sri Lanka (SEC), Sri Lanka Institute of Directors (SLID) and KPMG, recently hosted a successful Family Business Forum themed ‘Building a Lasting Family Legacy: A Strategic Approach to Growth and Continuity’.

Home Lands Group invests Rs.4.5bn to acquire large Thummulla property

Sri Lanka’s number one and most trusted real estate powerhouse Home Lands Group successfully concluded the acquisition of nearly one acre of Colombo city land in Thummulla, at a record Rs.29 million per perch, the highest ever amount paid per perch in the history of Colombo.

NDB-WNPS nurture next generation of environmental leaders

In a powerful step toward environmental sustainability and youth empowerment, NDB Bank announced its partnership with the Wildlife and Nature Protection Society (WNPS) to support the expansion of the WNPS Youth Wing’s Education for Conservation programme to 10 schools in the Kurunegala district.

Cap Snap Lanka wins 4 Golds at National Quality and Productivity Convention

Cap Snap Lanka (Pvt.) Ltd won four Gold awards at National Convention on Quality and Productivity 2025, held recently at Mount Lavinia Hotel, where its subsidiary American Polymers (Pvt.) Ltd also received a Silver award.

Lasitha Wimalaratne, Sithumina Jayasundara appointed as Executive Directors

A key leadership announcement was made as Lasitha Wimalaratne has been appointed as an Executive Director of HNB Assurance PLC, while Sithumina Jayasundara has been appointed as an Executive Director of HNB General Insurance Limited.

Singer unveils Piaggio Apé E City

In a bold step toward sustainable modern transportation, Singer Sri Lanka PLC, in partnership with Piaggio Vehicles, unveiled Piaggio Apé E City, an advanced electric three-wheeler, at Colombo EV Motor Show 2025.

Colombo Dockyard PLC enters into a strategic collaboration with Mazagon Dock Shipbuilders Limited of India

Colombo Dockyard PLC, a public listed company, Sri Lanka’s premier shipbuilding and ship repairing facility, announced the signing of a landmark strategic investment agreement with Mazagon Dock Shipbuilders Limited (MDL), India’s premier shipyard renowned for its expertise in naval and commercial vessel construction.

ComBank opens Representative Office in Dubai Int’l Financial Centre

The opening of a Commercial Bank of Ceylon Representative Office in the Dubai International Financial Centre (DIFC), a milestone not just for the bank but for Sri Lanka’s banking sector, was fittingly celebrated recently with the participation of the top management of the bank and dignitaries from Sri Lanka and the United Arab Emirates (UAE).

Vallibel Finance posts solid performance

Vallibel Finance PLC delivered a standout financial performance in FY 2024/25, marked by double-digit growth across key indicators.