Indices close on a mixed note

The ASPI edged down as a result of price losses in counters such as Lion Brewery, Melstacorp and Central Finance Company with the turnover crossing Rs. 1.0 Bn. Meanwhile, the S&P SL20 edged up. High net worth and institutional investor participation was noted in John Keells Holdings, Hayleys and Sunshine Holdings. Mixed interest was observed in Commercial Credit & Finance, LB Finance and Vallibel Finance whilst retail interest was noted in Tess A

Yield curve dips from belly end

The Central Bank conducted its weekly T-bill auction yesterday, accepting Rs.95.6 billion from the total offered amount of Rs.115.0 billion.

WSO2 launches Ambassador Program to empower tech advocates

WSO2 announced the launch of the WSO2 Ambassador Program, a global initiative that celebrates and supports the most passionate voices in its tech community, including developers and architects.

ANC Education unveils academic building in Colombo

ANC Education announced the grand opening of its newest academic building, located at R.A. De Mel Mawatha, Colombo 03.

DFCC Bank leads in sustainability with Rs. 500mn investment in AFC’s Green Bond

Further reinforcing its leadership in sustainable finance, DFCC Bank has become the largest investor in Alliance Finance Company PLC’s (AFC) Green Bond Issue, investing Rs. 500 million—half of the total Rs. 1 billion issuance.

First Capital Holdings excels at Best Management Practices Awards 2025

First Capital Holdings PLC, a subsidiary of JXG (Janashakthi Group), has been honoured as the winner in the Investment Banking category at the Best Management Practices Company Awards 2025.

Three Sinha Industries wins Award of Excellence

Three Sinha Industries Pvt. Ltd. has been recognised with the Award of Excellence at the Sri Lanka Institute of Architects (SLIA) Annual Product Awards, held recently in Colombo.

PCIA elects new office bearers for 2025/2026

The Executive Committee for Payment Card Industry Association (PCIA) was selected at their Annual General Meeting held on 3 April. Ashan Wikramanayake was elected Chairman of PCIA for the year 2025/26. Office Bearers were also selected for the positions of Secretary, Assistant Secretary, Treasurer, Assistant Treasurer, Head of Risk Forum, Head of Issuing Forum, Head of Acquiring Forum and Head of Operations Forum from across the Banking and Fin

Fitch rates UB Finance ‘BB(lka)’ with negative outlook

Fitch Ratings Lanka Limited has affirmed UB Finance PLC’s National Long-Term Rating at “BB(lka)” with negative outlook, according to a filing submitted to the Colombo Stock Exchange (CSE). The rating action is effective as of April 16, 2025. BB(lka) rating reflects the company’s moderate credit risk within Sri Lanka’s national scale. However, the negative outlook signals concerns over future challenges that could impact the firm’s creditworthines

Why sharing leaked data online is not harmless or legal

Ransomware attacks and data leaks have become common across the world. Criminal groups infiltrate computer systems, steal personal or institutional data, and demand payment in exchange for not publishing it. If the ransom is not paid, they often release the information in stages — first on illegal websites, then accomplices gradually move some of this information to public platforms. Unfortunately, in some cases, ordinary users thereafter share

Aitken Spence Hotels celebrates Heritance Rise trainees’ top honours

Aitken Spence Hotels marked a defining moment in its commitment to shaping the future of hospitality leadership, as trainees from its flagship Heritance Rise Management Trainee Programme emerged as some of the most decorated graduates at the Sri Lanka Institute of Tourism and Hotel Management (SLITHM) Graduation Ceremony 2024/25.

Great Place To Work Sri Lanka hosts insightful discussion on manufacturing industry

Great Place To Work Sri Lanka hosted its much-anticipated event, ‘Exploring Emerging Trends in the Manufacturing & Production Industry’, at the Hilton Colombo recently.

CA Sri Lanka’s TAGS Awards usher in a new era of corporate reporting

As Sri Lanka continues its journey towards a transparent, accountable, and sustainable corporate environment, the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) will commemorate a remarkable milestone – the 60th anniversary of the TAGS Awards, the country’s most prestigious platform recognising excellence in corporate reporting.

People’s Bank shines at Best Management Practices Company Awards

People’s Bank reaffirmed its leadership in organizational excellence by winning multiple awards at the Best Management Practices Company Awards 2025, hosted by the Institute of Chartered Professional Managers of Sri Lanka (CPM Sri Lanka).

Cartoon of the Day 24-04-2025

Toyota Lanka hosts delegation from Toyota Tsusho Corporation

Toyota Lanka (Pvt) Ltd recently hosted executives from Toyota Tsusho Corporation (TTC). Atsuhiro Okamoto (The former president of Toyota Motor Corporation Philippines), Senior Project General Manager, Wakana Takagishi, Project General Manager of the Mobility Planning Department, and Nobuhiko Murakami, Chairman of TTC, were among the delegation members.

CAA continues to track overpriced bottled water sales

The Consumer Affairs Authority (CAA) is continuing its island-wide raids to track down vendors selling bottled drinking water at prices above the approved rates.

CSE ends mixed as ASPI dips, but S&P SL20 holds slight gains

The Colombo Stock Exchange(CSE) saw mixed performance midweek, with the broader market under slight pressure while blue-chip counters showed marginal resilience. Investor activity remained measured, as sentiment stayed neutral ahead of upcoming earnings disclosures and key global macro triggers.

UB Finance retains ’BB(lka)’ rating with negative outlook from Fitch Ratings

Fitch Ratings Lanka Limited has affirmed UB Finance PLC’s National Long-Term Rating at “BB(lka)” with negativw outlook, according to a filing submitted to the Colombo Stock Exchange (CSE).

Sri Lanka’s economic growth set to slow to 3.5% in 2025 amid structural and global Challenges

Sri Lanka’s economic growth is projected to decelerate to 3.5 percent in 2025, according to the World Bank (WB), as the country contends with persistent structural constraints, global economic pressures, and unresolved trade policy uncertainties.

Ten million registered for TIN, 7 million still unregistered: IRD

A total of 10 million people have registered with the Inland Revenue Department to obtain Taxpayer Identification Numbers (TIN), while at least 7 million people still remain unregistered, IRD Deputy Commissioner General B.K.S. Shantha said.

No Russian charter flights to Sri Lanka until October

Sri Lanka will not host Russian charter flights during the off-season due to diminished demand and a lack of summer promotions, according to the Association of Tour Operators of Russia (ATOR).

Lanka IOC reports subdued performance

Lanka IOC PLC kicked off the March earnings season by reporting some subdued top and bottom-line performance for the 4Q25 period.

1Q tea output expands 6.2% YoY on broad elevation gains

Sri Lanka’s tea production rose 6.2 percent in the first quarter of 2025, supported by gains across key growing elevations, official data showed.

UAE, Sri Lanka move to boost trade ties with new Business Council

The Federation of UAE Chambers of Commerce and Industry and the National Chamber of Commerce of Sri Lanka signed a Memorandum of Understanding (MoU) to establish the UAE-Sri Lanka Joint Business Council to strengthen bilateral trade and investment ties.

SL moves to regulate gambling sports with new draft legislation

Cabinet has granted approval this week to publish a draft bill aimed at establishing a new independent regulatory body for the gambling sports industry, signalling a major move towards formalising and supervising a growing and largely unregulated sector.

Cabinet nod to undertake feasibility study for water-based tourism

In a bid to leverage water resources, the Cabinet of Ministers has green lit a proposal to explore the development of water-based tourism and passenger transport services through a public-private partnership (PPP). The decision, approved during a Cabinet meeting, aims to boost the island nation’s tourism sector while addressing urban mobility challenges.

Fitch assigns Siyapatha Finance’s proposed senior debt ‘A(EXP)(lka)’ rating

Fitch Ratings has assigned Siyapatha Finance PLC’s (A(lka)/Stable) proposed Sri Lankan rupee-denominated senior unsecured debentures of up to Rs. 5 billion an expected National Long-Term Rating of ‘A(EXP)(lka)’.

Indices close in red

Indices closed in red as a result of price losses in counters such as Commercial Bank, Hatton National Bank and Hayleys with the turnover crossing Rs. 991 mn.

Mixed sentiment keeps market in neutral territory

The secondary market exhibited a mixed tone yesterday, culminating in a broadly neutral performance amid moderate trading volumes.