IRD’s new risk-based VAT system promises refunds in 15 days

Eligible exporters with low and medium-risk profiles will be able to receive their VAT refunds within an expedited 15-day period under a new risk-based refund system, which is set to replace the current Simplified Value Added Tax (SVAT) system from 1 October 2025.

LOLC Finance to buy back over 3.5bn shares

The board of LOLC Finance PLC will repurchase up to 3.52 billion shares at Rs.6.00 each, aiming to enhance shareholder value while ensuring financial stability.

Central Bank extends SME loan relief deadline

The Central Bank yesterday extended the deadline for banks to finalise loan rescheduling agreements with small and medium enterprises (SMEs), urging lenders to offer additional relief to businesses still recovering

PROI Worldwide announces Adfactors PR Lanka as ‘APAC Agency of the Year’

PROI Worldwide has named Adfactors PR Lanka as its Agency of the Year (AOY) winner for the APAC region.

PickMe eyes Island-wide expansion with AI-powered push

Digital Mobility Solutions Lanka PLC (DMSL), the company behind the popular PickMe app, is setting its sights on an AI-driven expansion into untapped, high-impact opportunities across digital mobility and

Yield curve holds steady amid pre-auction buying

The secondary market yield curve saw moderate trading volumes and heightened activity yesterdau, while remaining broadly stable.

Indices close on a mix note

The ASPI edged up as a result of price gains in counters such as Cargills, LB Finance and Sampath Bank with the turnover crossing Rs. 3.6 bn.

Overseas Realty unveils Mireka Seascape

Overseas Realty (Ceylon) PLC officially launched its newest luxury real estate venture, Mireka Seascape.

Medical Devices Chamber introduces new team

The Chamber of Medical Devices introduced its newly elected leadership team for 2025.

Pelwatte Dairy farmers to benefit first-ever pension scheme

Pelwatte Dairy Industries announced the launch of Sri Lanka’s first pension scheme for dairy farmers, reinforcing its commitment to both national self-sufficiency and the welfare of the farming community.

HNB Finance appoints Ramanika Unamboowe to board

HNB Finance PLC announced the appointment of Ramanika Unamboowe as an Independent Non-Executive Director, effective June 4, 2025.

ComBank voted as SL’s Most Loved Bank brand again

Commercial Bank of Ceylon has been voted as Sri Lanka’s Most Loved Bank brand and the second Most Loved Service brand in the country overall, while ComBank Digital has been named as Sri Lanka’s Most

DFCC Bank relaunches iConnect 2.0 digital corporate banking platform

DFCC Bank PLC has officially relaunched its flagship digital corporate banking platform, DFCC iConnect 2.0, reinforcing its commitment to delivering digitally advanced, client-centric solutions.

Nations Trust Bank strengthens regional business ties

Nations Trust Bank PLC recently hosted an exclusive forum for customers in the Northern region, offering in-depth insights into developing local businesses through digital innovations.

HNB Assurance launches FamilyGuard for Sri Lankans working overseas

HNB Assurance PLC launched HNB Assurance FamilyGuard, a comprehensive insurance product specifically designed for Sri Lankans employed overseas.

CSE ends mixed due to subdued trading activity

The Colombo Stock Exchange (CSE) closed the day on a mixed note, with overall investor activity remaining relatively subdued. Both market turnover and share volume declined in comparison to recent sessions, which had experienced heightened trading activity.

Power pricing reform advances with net relief for industry

The Public Utilities Commission of Sri Lanka (PUCSL) yesterday approved a 15 percent increase in electricity tariffs, moderating the previously proposed hike.

Sri Lanka’s growth trails regional neighbours as recovery diverges: World Bank

South Asia’s major economies show uneven post-crisis trajectories

Global economy set for weakest run since 2008 outside of recessions

Heightened trade tensions and policy uncertainty are expected to drive global growth down this year to its slowest pace since 2008 outside of outright global recessions, according to the World Bank’s latest Global Economic Prospects report.

Colombo Dockyard nears deal with new investor to steer turnaround

Colombo Dockyard PLC (CDPLC) is in the final stages of formalising an agreement with a new strategic investor, a pivotal move that is considered to be essential to navigate out of a “vulnerable” financial position and secure a “bright future”.

Hela Apparel sells two subsidiaries to Q Collection for Rs.2.7bn

Hela Apparel Holdings PLC said this week it divested two of its sub-subsidiaries for Rs.2.7 billion to Singapore-based Q Collection Pte Ltd, in a bid to simplify its structure and improve performance under a wider group restructuring.

Turnover hits LKR 5.7 Bn

Indices closed in green as a result of price gains in counters such as John Keells Holdings, Hatton National Bank and National Development Bank with the turnover crossing Rs. 5.6 Bn. High net worth and institutional investor participation was noted in Royal Ceramics, Lanka Tiles and John Keells Hotels. Mixed interest was observed in Vallibel One, Hatton National Bank and Sampath Bank whilst retail interest was noted in LVL Energy Fund, HVA Foods

Market in slumber, yields barely budge

The secondary market withstood another dormant day of limited activity and thin volumes, in turn prompting the yield curve to hold steady.

APBSL and SLBA-UAE forge strategic partnership to fortify local banking professionals’ global reach

In a landmark move to enhance cooperation between Sri Lankan financial professionals and their counterparts in the United Arab Emirates, the Association of Professional Bankers – Sri Lanka (APBSL) and the Sri Lanka Bankers Association in the UAE (SLBA-UAE) signed a Memorandum of Understanding (MoU) on May 20 at the Consulate General of Sri Lanka for Dubai & the Northern Emirates.

Visa bolsters SL’s tourism revival with Asia Pacific Leadership Summit in Colombo

In a significant boost to Sri Lanka’s tourism ambitions, global payments giant Visa announced it will host the Asia Pacific Leadership Summit in Colombo.

Ceylon Chamber to host exclusive B2B event with top Swiss companies

The Ceylon Chamber of Commerce announced an exclusive B2B networking event titled “Connect with Swiss Businesses: Explore New Partnerships”, on June 16 from 12 noon to 2 p.m. at the Ceylon Chamber premises. This high-level networking session will bring together top Swiss companies with Sri Lankan businesses to explore potential partnerships and investment opportunities, with a special focus on the construction and telecommunication sectors.

Technocity charts SL’s AI future with strategic presence at ‘Computex 2025’

A senior management team from The Technocity Pvt Ltd recently made a strategic visit to ‘Computex 2025’ in Taipei, aligning the company’s growth trajectory with the latest global advances in Artificial Intelligence (AI) and digital infrastructure.

Amana Bank relocates Ratnapura branch

Amana Bank announced the relocation of its Ratnapura Branch to a more spacious and convenient customer location in Main Street, Ratnapura.

CIPM presents Lifetime Gold Award at National HR Conference

The Chartered Institute of Personnel Management (CIPM) Sri Lanka presented its highest honour—the Lifetime Gold Award—on the opening day of the National Human Resource Conference (NHRC) 2025, held on June 2 at the Monarch Imperial, Kotte.

Prime Group launches ‘Venezia’ water villa themed apartments

Prime Group is introducing ‘Venezia’, the island’s first-ever water villa themed serviced apartments, with every unit overlooking the breathtaking Negombo Lagoon.