VFS Global acquires majority stake in CiX Citizen Experience

VFS Global has completed the acquisition of a majority stake in CiX Citizen Experience, a leading provider of digital and physical citizen services based in Brazil.

Cartoon of the Day 08-05-2025

CSE turns red, post Local Government Election

The Colombo Stock Exchange (CSE) exhibited negative momentum throughout the trading session. The All-Share Price Index (ASPI) moved lower, closing below the 15,900 mark, following the local government election in Sri Lanka.

SL human development progress slows as regional peers catch up

Sri Lanka continues to stand tall in the high human development category. However, latest data by the United Nations shows that the momentum is slowing, with regional peers closing in fast.

World Bank Group President Ajay Banga arrives in Colombo today

World Bank (WB) Group President Ajay Banga touches down in Colombo today, marking the first visit by a WB chief in nearly two decades.

Tea sales average drops in April

Sri Lanka’s national tea sales average fell in April 2025, with the monthly average recorded at Rs. 1,166.75 (US$ 3.91), down by Rs. 17.01 (US$ 0.11) compared to Rs. 1,183.76 (US$ 4.02) in March.

Hayleys debenture issue oversubscribed on opening day

Hayleys PLC saw its Rs. 7 billion senior unsecured redeemable debenture issue oversubscribe on the first day of opening.

Browns Investments boosts plantation portfolio with Rs. 4.8 bn FLMC deal

Browns Investments PLC (BIL), the investment arm of Sri Lanka’s LOLC Group has acquired FLMC Plantations (Pvt) Ltd in a Rs. 4.8 billion deal.

BoC to raise Rs. 15bn via debentures

Bank of Ceylon will raise Rs. 15 billion via five-year BASEL III compliant, Tier 2 listed, rated, unsecured, subordinated debentures with non-viability write down features.

Indices edge up

The ASPI closed in green as a result of price gains in counters such as Melstacorp, Windforce and Aitken Spence with the turnover crossing Rs. 1.4 bn.

Secondary market slumbers, and ballots take the spotlight

The secondary bond market remained largely dormant yesterday, with trading activity tapering off significantly amid the conduct of Sri Lanka’s Local Government Elections.

Hayleys Solar-BYD introduce advanced battery, inverter solutions

Hayleys Solar has partnered with global renewable energy leader BYD to introduce state-of-the-art energy storage and inverter solutions to the Sri Lankan market, marking a significant step forward in the nation’s energy security and independence.

NDB Wealth holds Annual Sales Awards

NDB Wealth marked a defining moment in its journey with Annual Sales Excellence Awards 2024, held to celebrate a year of record-breaking achievements and the people who made it possible.

Fitch publishes MBSL’s proposed subordinated debt rating of ‘BBB+(EXP)(lka)’

Fitch Ratings has published the expected National Long-Term Rating of ‘BBB+(EXP)(lka)’ on Merchant Bank of Sri Lanka & Finance PLC’s (MBSL, A(lka)/Stable) proposed subordinated debentures of up to Rs.1 billion.

Hemas brands shine at Beautyworld Saudi Arabia

Recently, Hemas International Business showcased its reputed range of herbal and ayurvedic products to an international audience at Saudi Arabia’s leading exhibition.

DFCC Bank wins Visa Commercial Solutions Excellence Award

At the esteemed Visa Leadership Conclave 2025, held recently at The Hilton Colombo, DFCC Bank was recognised with Visa Commercial Solutions Excellence Award 2025 for achieving the highest quarter-on-quarter issuance growth on corporate cards.

French envoy hosts SL-France Business Council Members’ Day

The Sri Lanka-France Business Council (SLFBC) of The Ceylon Chamber of Commerce recently held its annual Members’ Day, graciously hosted by the newly appointed French Ambassador to Sri Lanka Rémi Lambert, at his official residence.

Healthguard Distribution with Micro Healthcare strengthens portfolio

Healthguard Distribution, the country’s only fully-fledged national pharmaceutical distribution service, announced its collaboration with Micro Healthcare Private Limited.

Going beyond US reciprocal tariffs: SL’s exposure to tariffs and exemptions

The United States’ (US) proclamation of ‘reciprocal tariffs’ dealt a blow to the global trade system based on the World Trade Organisation principles.

Omega Line wins top Presidential Export Award

Omega Line Ltd has won the prestigious Merit award in the Large Apparel Category at the Presidential Export Awards ceremony for the year 2023/24, organised by the Sri Lanka Export Development Board.

World Bank Group President to visit Sri Lanka

Ajay Banga will visit Sri Lanka on Wednesday, May 7, the first presidential visit to the country by a World Bank Group president in nearly 20 years.

CSE wraps up the shortened trading session with improved momentum

The Colombo Stock Exchange (CSE) continued its positive momentum from yesterday, with the All-Share Price Index (ASPI) closing above the 15,900 mark once again.

CBSL launches Sustainable Finance Roadmap 2.0

The Central Bank of Sri Lanka (CBSL) launched the Sustainable Finance Roadmap 2.0 yesterday (5 April), marking a key milestone in its continued efforts to foster a climate-resilient and socially inclusive financial system.

SL’s financial sector faces over US $ 10bn climate bill

Sri Lanka’s financial sector must gear up to mobilise an estimated US $ 10.85 billion by 2030 to meet the country’s climate commitments, the Central Bank said, while warning that the cost of inaction is rising as climate risks intensify.

Sri Lanka Customs to name and shame tax defaulters, other offenders from June 1

Sri Lanka Customs, from June 1, will publicise the names and particulars of individuals and companies that default on tax, passengers arrested for smuggling contraband and those who intentionally violate the Customs Ordinance, on its official web portal.

President Dissanayake woos Vietnam’s Vingroup for key sector investments

Sri Lanka will see Vietnam venturing into its business landscape, as the latter’s largest private conglomerate Vingroup has been invited to explore investment opportunities in the island’s tourism and real estate sectors. The invitation was extended by President Anura Kumara Dissanayake during a high-level business engagement held at Vingroup’s headquarters in Hanoi, on May 4, as part of his official state visit to Vietnam. While congratulating t

CSE to ring closing bell early today

As the citizens will get busy to cast their vote in the local government elections today, the Colombo Stock Exchange (CSE) said it would trim the trading hours. The capital market operator announced yesterday that trading today would open as usual at 9:30 a.m. but would draw to a close by 12:30 p.m., three hours earlier than the customary closing bell.

Week commences on a positive note

Indices closed in green as a result of price gains in counters such as John Keells Holdings, Commercial Bank and Sampath Bank with the turnover crossing Rs. 1.9 Bn. High net worth and institutional investor participation was noted in Sampath Bank, Melstacorp and the Lighthouse Hotel. Mixed interest was observed in John Keells Holdings, Lankem Developments and Pan Asia Banking Corporation whilst retail interest was noted in Hela Apparel Holdings,

Yield curve softens further as investors maintain buying streak

Building on the previous week’s trend, the investors continued to exhibit a buying sentiment, resulting in moderate trading volumes in the secondary market.

CH17 partners with FinWin Group to launch first franchise operation in the UAE and MENA region

Channel 17 (CH17) Loyalty launched its first international franchise operation in the United Arab Emirates, in strategic partnership with FinWin Group.