Hirunika’s bail request to be heard on July 15

An application requesting former Parliamentarian Hirunika Premachandra be enlarged on bail, in a bail pending appeal, was yesterday fixed for inquiry by the Colombo High Court. When the application was called before Colombo High Court Judge Amal Ranaraja, the Attorney General filed written submissions against the bail application. Therefore, the matter was fixed for inquiry to be taken up on July 15.

Dialog reports underwhelming March performance as fixed telephony revenue slump

Dialog Axiata PLC saw its revenue languish during the first three months of the year as fixed telephony and broadband operations performed weaker while the mobile and television services too failed to impress much.

Exporters demand swift action from government

The senior representatives of Sri Lanka’s key export sector came on to one platform this week to shed light on their list of woes, which only seems to be getting longer, with little being done to address the challenges faced.

Threads of Resilience

Sri Lanka’s apparel sector has long been celebrated for its resilience, consistently overcoming challenges to emerge as a pivotal revenue driver for the nation. Yet, the sector now finds itself navigating uncharted waters amidst the global pandemic and economic downturn, grappling with unforeseen obstacles compounded by governmental missteps and a turbulent global economy. In an exclusive interview with Mirror Business, Yohan Lawrence, Secretary

Improved interest in SL as brands rethink strategies: JAAF

Sri Lanka’s apparel sector is witnessing a resurgence of interest, as brands reassess their purchasing strategies and are on the lookout for safe and secure homes to place their orders. The Joint Apparel Association Forum (JAAF) shared that the apparel manufacturers have had several high-profile visits from brands, as buyers are returning to the country to meet with the suppliers and to work on long-range plans with their suppliers. “This augurs

Tourism industry mourns loss of Prema Cooray

Sri Lanka’s tourism sector is grieving the loss of a stalwart this week, as industry veteran Prema Cooray passed away.

Ceylon Grain Elevators explores new overseas markets for growth and stability

Ceylon Grain Elevators (CGE) PLC, the largest operator in the poultry industry in Sri Lanka, shared that it is looking....

Central Bank further reduces policy interest rates

The Monetary Policy Board of the Central Bank of Sri Lanka has decided to reduce the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank by 50 basis points (bps) to 8.50 percent and 9.50 percent.

Ceylon Chamber of Commerce celebrates 185 years today

The Ceylon Chamber of Commerce (CCC), the premier representative of Sri Lanka’s private sector, marks its 185th anniversary today (March 25).

IMF reaches staff-level agreement with SL on second review

The IMF team reached staff-level agreement with the Sri Lankan authorities on the second review under the economic reform program supported by a 4-year Extended Fund Facility (EFF) arrangement.

Expolanka plans delisting from CSE to focus on global growth

Diversified conglomerate Expolanka Holdings PLC yesterday announced its decision to delist from the Colombo Stock Exchange (CSE), a move which it said would help increase focus its expanding its operations internationally.

EDEX Kandy to feature ’Softskills for Effective Leadership’ by Sunil Dissanayake

EDEX Kandy career fair to feature ’Softskills for Effective Leadership’ by senior corporate personality & Executive Consultant, Royal Colombo Golf Club Sunil Dissanayake tomorrow.

Survey on Sri Lanka’s PR industry reveals print is here to stay

A survey conducted by APAC chapter of the Public Relations and Communications Association (PRCA) revealed that print is here to stay.

Dairy sector makes fresh bid to reconsider VAT rollout

Sri Lanka’s dairy stakeholders urged the government to reconsider the decision to increase the Value Added Tax (VAT).

Buying appetite tones down ahead of bond auction

The secondary market yield curve remained broadly unchanged, as the robust buying sentiment, which persisted during the previous sessions, toned down during the day.

Sri Lanka opens doors to Indian tourists with virtual Unified Payments Interface launch via LankaQR

In a groundbreaking move aimed at enhancing the convenience and security of digital payments for Indian tourists in Sri Lanka, a virtual launch event marked the introduction of the Unified Payments Interface (UPI) transactions through LankaQR yesterday.

Islamic Banking and Finance Industry conference to kick off tomorrow

The Sri Lanka Islamic Banking and Finance Industry (SLIBFI) conference will be held for the 16th successive year tomorrow at Shangri La Hotel Colombo.

SriLankan Airlines confirms safe return of UL 605

National carrier SriLankan Airlines confirmed that flight UL 605 from Melbourne to Colombo made a safe return back to the Melbourne Airport.

Major boost for local tourism sector with India’s UPI services launch

Sri Lanka’s tourism industry will receive a major boost with the launch of India’s most popular digital payment method Unified Payment ....

Macksons open outlet in Kenya

Macksons Group’s new outlet opened in Nairobi recently, which marks a significant step in strengthening the economic ties between the Kenya and Sri Lanka.

Central Bank relaxes restrictions imposed on standing facilities

Monetary Board relaxes restrictions imposed on the Standing Facilities to Licensed Commercial Banks (LCBs) under Open Market Operations (OMOs).

Sri Lanka to launch first-ever apparel roadshow in UK

The Sri Lanka Export Development Board (EDB), along with SLASA, the Sri Lanka High Commission in the UK, and JAAF, will host the ’Sourced Sri Lanka – Textile & Apparel Roadshow’ in London in June 2024.

SEC introduces social media misconduct reporting mechanism

The Securities and Exchange Commission (SEC) has introduced a system to report instances of misconduct on social media that could potentially affect the Colombo Stock Exchange (CSE).

Sri Lanka Telecom announces second leadership transition in seven months

Sri Lanka Telecom has seen its leadership change for the second time in about seven months with the entity affirming the appointment of a new Chairman.

Central Bank appoints six new Assistant Governors

The Central Bank of Sri Lanka (CBSL) announced today the appointment of six new Assistant Governors by the Governing Board.

Asia on-track to deliver two-thirds to global growth in 2024: IMF

The year 2024 is expected to be one of prosperity for Asia with the International Monetary Fund (IMF) expecting the region to maintain its momentum in delivering two-thirds to global growth.

Vessel calls at HIP surge 132% YoY

Over 300 oil and gas cargo vessels visited the Hambantota International Port (HIP) in 2023, recording a 132 percent increase in vessel calls compared to 2022.

Resignations at SLT as Board overhaul begins

Sri Lanka Telecom (SLT) yesterday saw its Board members resign after President Ranil Wickremesinghe directed the Treasury Secretary last week to reconstitute the Board with immediate effect.

AHK Sri Lanka Hosts Spectacular New Year’s Reception 2024

The Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) recently hosted its New Year’s Reception 2024 at the Taj Samudra Hotel in Colombo, setting the stage for a remarkable convergence of industry leaders and professionals.

Central Bank maintains policy rates at current levels

Policy rates will be maintained at their current levels, the Central Bank of Sri Lanka said today, its is first monetary policy announcement for the year.