BOI overhaul puts investor approvals online, transparent and real-time

Sri Lanka yesterday saw the launch of a fully digital investment platform as part of a major push to cut red tape and transform the Board of Investment (BOI) into a genuine one-stop shop for the investors.

Export earnings near US $ 10bn

Sri Lanka’s export earnings are approaching the US $ 10 billion mark in the first seven months of 2025, with total goods and services exports reaching US $ 9.99 billion, up 7.8 percent from the same period last year. The performance reflects a broad-based recovery across key sectors, supported by a stronger regional demand and rising value-added exports.

IndianOil CFO Anuj Jain takes over as Lanka IOC Chairman

Lanka IOC PLC, the Sri Lankan unit of Indian Oil Corporation Ltd, yesterday announced it has appointed IndianOil Director Finance and Chief Financial Officer Anuj Jain as its new Chairman, replacing Satish Kumar Vaduguri, who retired earlier this month.

NCE-FIEO MoU to boost bilateral trade and export opportunities

The National Chamber of Exporters of Sri Lanka (NCE) has signed a memorandum of understanding (MoU) with the Federation of Indian Export Organisations (FIEO), aiming to strengthen trade ties and expand export opportunities between the two countries.

SLIC Life’s premium growth soars by 32% in 1H

Sri Lanka Insurance Life (SLIC Life) has demonstrated significant financial momentum in the first half of 2025, reporting substantial growth in its premium income. The company’s performance highlights a strong increase in new business and reinforces its stable position in the market. SLIC Life announced a gross written premium of Rs.15.4 billion for the first six months of 2025, marking a robust 32 percent year-on-year growth.

Crossings boost turnover

Indices closed in red as a result of price losses in counters such as Hatton National Bank, John Keells Holdings and Commercial Bank with the turnover crossing Rs. 4.4 Bn. Crossings were witnessed in Hatton National Bank, E B Creasy & Company and Hemas Holdings accounting for 55.7% of the turnover. Mixed interest was observed in Royal Ceramics, Sierra Cables and Colombo Dockyard

A lacklustre mood marks week’s start

The secondary market stepped into the trading week with restrained dynamism as investor activity appeared muted, prompting a static yield curve.

DIMO Agribusinesses announces LOVOL Harvester Pancha Maha Nidhanaya winners

DIMO Agribusinesses announced the lucky winners of the LOVOL Harvester Pancha Maha Nidhanaya, who won five DIMO Batta lorries at DIMO Agri Machinery Prestige Awards 2024/25, which was held to recognise their dealers recently.

HNB Assurance crowned Best Life Insurance Company

HNB Assurance PLC has been recognized as the Best Life Insurance Company – Sri Lanka 2024 by Global Brands Magazine, UK.

Sri Lanka - China Business Council reinforces economic ties with China

The Sri Lanka - China Business Council (SLCHBC) of The Ceylon Chamber of Commerce held its 24th Annual General Meeting (AGM) recently, reaffirming its commitment to strengthening bilateral economic cooperation with China.

Sudath Perera Associates to host webinar on navigating US trade tariffs for Sri Lankan exporters

Law firm Sudath Perera Associates, in collaboration with the US-based law firm Amundsen Davis, is set to host a webinar titled, “Thriving Amid Tariffs: Implications and opportunities for Sri Lankan exporters to the US.” The virtual event will take place on August 28 at 4:00 PM (IST) via MS Teams.

DFCC Bank and Toyota Lanka partner to introduce tailored leasing solutions

DFCC Bank has partnered with Toyota Lanka to introduce a suite of thoughtfully designed vehicle leasing solutions, allowing customers to own their preferred Toyota vehicle with greater confidence and convenience.

Union Bank recognised at Satyn Women Friendly Workplace Awards

Union Bank was recognized with a Special Award at the Satyn Women Friendly Workplace Awards 2025 for championing women in leadership. With women representing 50 percent of the bank’s total workforce, this recognition reaffirms Union Bank’s dedication to driving equality and empowering women to thrive at every level.

Aitken Spence Elevators, Rush Housing forge strategic partnership for vertical mobility across new projects

Aitken Spence Elevators (Pvt) Ltd has signed a Memorandum of Understanding (MoU) with Rush Housing (Pvt) Ltd to provide nine OTIS Gen2 Hz machine room-less elevators for five upcoming residential projects in the Colombo District.

Nandasiri appointed Director of SOS Children’s Villages International

Nandasiri Ponnamperuma, President of the National Board of SOS Children’s Villages Sri Lanka, was recently elected to the newly formed International Board of SOS Children’s Villages.

Prime Group introduces SL’s first luxury real estate client experience initiative

Celebrating three decades of industry leadership, real estate developer Prime Group recently unveiled ‘Prime Premier’, an exclusive client experience initiative designed to transform how discerning clientele engage with real estate.

Orange Electric repositions influencer engagement initiative with new vision

Orange Electric announced the repositioning of its flagship influencer engagement initiative - the ‘Orange Electricians Society’ with a new vision as ‘Hasarella’ - a name in Sinhala that symbolises laughter, smiles, and shared joy.

HNB showcases Club Elite Mastercard experience with Maldives preview

HNB PLC recently hosted an exclusive experience event in the Maldives to highlight the lifestyle benefits of its invitation-only the Club Elite metal Mastercard.

Asia Health Drug Store relocates to fully-fledged new pharmacy premises

The main pharmacy outlet of the Asia Health Drug Store, which is fully dedicated to providing Oncology and Haematology related medicines for cancer patients, has been relocated to a brand-new purpose-built facility at No. 101, Kirula Road in Narahenpita recently.

People’s Bank’s YES Cash Carnival offers over Rs.4.5 mn in prizes

People’s Bank’s YES Savings Account is celebrating International Youth Day by launching the YES Cash Carnival and giving customers the unique opportunity to win over Rs. 4.5 million in prizes.

Frostaire celebrates 45 years of excellence in air conditioning solutions

‘Frostaire’ Air Conditioning Company marks a significant milestone - 45 years of dedicated services, innovation and leadership in Sri Lanka’s air conditioning industry.

Sri Lankan banks show increased willingness to lend as credit demand surges

Sri Lanka’s banks are showing a greater willingness to lend in response to heightened loan demand, a trend expected to accelerate in the third quarter of 2025.

CEAT inks landmark US$ 171mn deal with BOI, boosting Sri Lanka’s manufacturing sector

CEAT OHT Lanka (Private) Limited has formalised a US$ 171 million investment with the Board of Investment of Sri Lanka (BOI), marking one of the largest recent investments from India into the nation’s manufacturing sector.

SL records lowest unemployment rate since 2018 as labour market tightens

Sri Lanka’s unemployment rate fell in the first quarter of 2025, while the labour force participation rate rose, signalling improving labour market conditions as the expanding economy creates more jobs.

SL crosses 1.5mn tourist arrival milestone amid strong August performance

Sri Lanka’s tourism sector has officially crossed a major milestone, welcoming over 1.5 million tourists year-to-date amid a continued surge in August arrivals.

OPA holds 38th Annual Conference and 4th National Apex Awards

The Organisation of Professional Associations of Sri Lanka (OPA) successfully hosted its 38th Annual Conference and the prestigious fourth National Apex Awards on August 19 and 20, 2025, at Cinnamon Life, Colombo.

Fcode Labs-Porolis deliver AI-driven innovation to global gemstone industry

Fcode Labs, a global digital product engineering company, partnered with Porolis, an innovator in gemstone scanning technology, to launch an AI-powered platform that reimagines how gemstones are analysed, certified and showcased in the digital age.

Tech Cargo Hub hosts strategic industry dialogue on future of warehousing

Tech Cargo Hub (TCH), Sri Lanka’s leading digital warehousing and logistics solutions provider, hosted a high-impact industry conference recently, to unveil its newest venture TCH 2, a 20,000 sq. ft. smart warehouse designed to power the future of logistics in the region.

Tea Avenue expands to India with plans for 200 global outlets by 2035

Tea Avenue, Sri Lanka’s flagship tea café brand, with a heritage spanning four generations, announced its official entry into the Indian market through a strategic partnership with FranGlobal, the international arm of Franchise India Group.

Human Mobile Devices unveils Fusion 8/256 5G in Sri Lanka

Human Mobile Devices (HMD) has unveiled HMD Fusion 8/256 5G in Sri Lanka, as a bold new smartphone that delivers on every front: performance, style and value.