Sri Lanka slips to world’s 4th largest tea exporter as India takes 3rd spot

Sri Lanka has been displaced as the world’s third-largest tea exporter, falling to the fourth position, as India expanded its production to capture a larger share of the global market in 2024, according to the latest annual report from Agarapatana Plantations PLC.

BOC appoints Y.A. Jayathilaka as Acting GM/CEO

Bank of Ceylon (BOC) has appointed Y.A. Jayathilaka as its Acting General Manager/Chief Executive Officer, succeeding Russel Fonseka, who retires after more than three decades of distinguished service.

Almas Holdings lifts stake in Galle Face Capital Partners above 10%

Almas Holdings (Pvt.) Ltd raised its stake in Galle Face Capital Partners PLC (WAPO.N0000) to 10.04 percent, following the share purchases on August 7.

Ceylon Cold Stores-Reliance to launch India’s Campa cola brand in Sri Lanka

Ceylon Cold Stores, in collaboration with Reliance Consumer Products Limited (RCPL), is set to introduce the iconic Campa Beverages brand in Sri Lanka.

Week begins in green

The ASPI closed in green as a result of price gains in counters such as C T Holdings, Cargills and Ceylinco Holdings with the turnover crossing Rs. 3.1 Bn. Meanwhile, the S&P SL20 edged down. High net worth and institutional investor participation was noted in Hatton National Bank nonvoting, Melstacorp and Lanka Tiles. Mixed interest was observed in Prime Lands Residencies, Commercial Bank and Hatton National Bank whilst retail interest was noted

Mobile data and voice services power Dialog June quarter

Dialog Axiata PLC reported some robust top and bottom-line performances in the three months ended in June from some solid performance in its key mobile operations segment, driven by the revenues in the data and voice segments.

Lacklustre trading keeps yields steady across curve

The secondary market commenced the week on a subdued note, reflecting limited investor activity and low trading volumes.

Englander enters Sri Lankan market delivering US-engineered sleep solutions

Richard Pieris & Company PLC recently introduced Englander International, a globally recognised brand in mattress technology, to the Sri Lankan market.

Laugfs Rubber wins Gold for Export Excellence in Sri Lanka

Laugfs Rubber has reaffirmed its position as a benchmark for excellence in Sri Lanka’s corporate landscape by securing multiple recognitions at the recently held National Business Excellence Awards (NBEA) 2025. The company was honoured as the winner in the Export Sector and named 2nd Joint Runner-Up in the Large Category. These accolades highlight LAUGFS Rubber’s strong global presence, operational excellence, and ongoing leadership in the indus

Home Lands tops own record achieving Rs. 8.8bn sales within a month

Real estate developer Home Lands has achieved an unprecedented Rs. 8.8 billion in sales in just one month in July 2025, topping the record it set just the previous month by recording Rs. 7.4 billion in sales in June 2025 that saw the highest ever sales figures done by any real estate developer in a month in Sri Lanka.

Pan Asia Bank launches BizClass Credit Card with Mastercard International

Pan Asia Bank introduced the BizClass Credit Card – the newest financial solution under the Mastercard World Business category recently.

Dr. Sritharan appointed Global Validation Chair for Asian Digital Finance Awards 2025

The Asian Digital Finance Forum & Awards 2025, an anchor initiative of the Asia International Digital Economy & AI in Finance Summit at Port City Colombo, is led by Global Validation Chair Dr. Sivaguru S. Sritharan—an internationally renowned aerodynamicist and AI research leader.

Union Bank recognised amongst Sri Lanka’s Top 100 Most Valuable Brands

Union Bank has been once again recognised as one of Sri Lanka’s Top 100 Most Valuable Brands in the latest rankings published by Brand Finance, in collaboration with Echelon Magazine.

The dawn of Dark AI: A new era of cyber warfare in Asia-Pacific

A new and formidable spectre is haunting the digital landscapes of the Asia-Pacific (APAC) region. Coined “Dark AI,” this malicious evolution of artificial intelligence is no longer the stuff of science fiction but a present and escalating threat, arming cybercriminals and nation-state actors with unprecedented capabilities.

Vogue Jewellers launches first international store in Melbourne

Vogue Jewellers, one of the most popular and long-standing jewellery brands of Sri Lanka has entered the global market, opening its first international store in Melbourne, Australia. This initiative is expected to give the country the much-needed economic boost through increased foreign exchange revenue.

ISMM organises National Supply Chain Day 2025 celebrations on October 24

The Institute of Supply and Materials Management (ISMM) in collaboration with the Ministry of Industries and the Industrial Development Board (IDB) is to hold the National Supply Chain Day 2025 celebrations on October 24th at the Monarch Imperial in Sri Jayewardenepura Kotte.

Tourist arrivals off to strong start in August, cumulative arrivals cross 1.4 mn 

Sri Lanka’s tourism sector has made a powerful start to August, with early figures indicating the country is on track for its best-ever arrivals for the month.

Worker remittances surge 23% in July to US$ 697mn

Remittances from Sri Lankans working abroad surged in July, bolstering the nation’s external account and providing crucial support to the economy.

DFCC Bank profit jumps in June quarter on accelerated loan growth

DFCC Bank PLC announced strong financial results for the quarter ended June 30, 2025, driven by accelerated loan growth as lower interest rates spurred borrowing across the banking sector.

July earnings at US$ 319mn

Earnings from tourism for July was recorded at US$ 318.5 million on the back of strong arrivals as Sri Lanka gets often featured among the countries and the islands as the best choice for travel in 2025.

Cargills Group reports 46.3% PAT in 1Q

Cargills Group revenue rose 11.2 percent to Rs. 66.7 billion, driven by strong top-line growth across its core segments: Retail, FMCG, and Restaurants. This performance was supported by seasonal demand, sustained operational efficiencies, and lower finance costs, despite rising overhead expenses.

Private sector credit surges as June sees over Rs. 220bn in new lending

Credit extended to the private sector rose sharply in June, accelerating from May and reflecting a significant increase in lending by commercial banks. This surge comes amid declining interest rates and a growing economy, which is generating higher demand for funds to fuel expansion.

Invest Sri Lanka Forum in Singapore to showcase booming capital market and attract foreign investors

Sri Lanka is set to make a strong pitch to global investors this week as the Colombo Stock Exchange (CSE) and the Securities and Exchange Commission of Sri Lanka (SEC) host the Invest Sri Lanka Investor Forum in Singapore on August 12, according to a press release circulated by CSE.

Melwa enters Canadian construction industry

Sri Lanka’s steel giant Melwa has achieved a significant breakthrough with its first-ever large-scale export of 15,000 metric tonnes of reinforcement steel to the Canadian construction market.

Colombo Tea Traders’ Association hosts 131st AGM

The Colombo Tea Traders’ Association (CTTA) hosted its 131st Annual General Meeting (AGM) recently, celebrating over a century of unwavering dedication to Sri Lanka’s beloved tea industry.

Corporate giants power CA Sri Lanka

The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) announced the support of some of the nation’s most respected corporates as Lead Sponsors for the year 2025/26, marking a strong endorsement of the institute’s ongoing commitment to advancing the accounting profession and nurturing financial leadership across the country.

Daminda Perera takes helm as Swisstek Group Managing Director

Swisstek (Ceylon) PLC and Swisstek Aluminium Ltd announced the appointment of Daminda Perera as Group Managing Director of both entities, with effect from July 29, 2025.

Fonterra pioneers SL’s National Competency Standard for dairy industry machine operators

Fonterra Brands Lanka, in collaboration with the Tertiary and Vocational Education Commission (TVEC), National Apprentice and Industrial Training Authority (NAITA), Labour Department and eight other dairy industry peers, including Milco (Pvt.) Ltd, Maliban Milk Products (Pvt.) Ltd,

David Pieris Manufacturing Complex becomes a Net Zero Energy Facility

Marking a significant milestone in its journey towards sustainability, David Pieris Motor Company (Lanka) Limited (DPMCL) announced that its Manufacturing Complex in Ranna, located in the Hambantota district, has been officially certified as a Net Zero Energy Facility by Control Union.

Pathfinder Foundation appoints 2 Distinguished Fellows

The Pathfinder Foundation has appointed two eminent individuals as Distinguished Fellows, who will assist the foundation in fulfilling its task as an independent, non-partisan, apolitical institution.