ADB warns Sri Lanka of growth risks as US tariffs erode export competitiveness

As the developing Asian economies are among the hardest hit with the US tariff that went into effect this week, the Asian Development Bank (ADB) noted that for the Sri Lankan exporters, one of the key issues, among others, would be the erosion of cost competitiveness.

Global tourism promotion campaign to go live end-April

Sri Lanka will launch its long-awaited global tourism promotion campaign by the end of this month, marking a strategic shift from traditional tourism marketing to a comprehensive nation branding initiative that highlights the country’s diverse economic and cultural strengths.

Sanjiv Hulugalle appointed as CEO and GM of Cinnamon Life at City of Dreams Sri Lanka

Cinnamon Life announced Sanjiv Hulugalle as Chief Executive Officer and General Manager of Cinnamon Life at City of Dreams Sri Lanka.

SMEs get further reprieve on parate law execution

The small and medium enterprises (SMEs) in the country received a further reprieve on the execution of the so-called parate law execution, as the government decided to provide further relief on the borrowers, who have been affected by the repeated crises.

Hayleys acquires 10.83% stake in DIMO for over Rs.1bn

Dhammika Perera-controlled Hayleys PLC has acquired a 10.83 percent stake in Diesel and Motor Engineering PLC (DIMO), through a series of transactions worth over Rs.1.04 billion, according to a disclosure filed with the Colombo Stock Exchange. On April 7, Hayleys purchased 903,508 shares (a 9.79 percent stake), at the price of Rs.1050 per share and the remainder of shares were purchased on the following day.

Foreign buying boosts turnover

Indices closed in red as a result of price losses in counters such as Hayleys, Sampath Bank and John Keells Holdings with the turnover crossing Rs. 3.0 Bn. High net worth and institutional investor participation was noted in John Keells Holdings, Hatton National Bank and Ambeon Capital. Mixed interest was observed in Digital Mobility Solutions Lanka, Commercial Bank and Sampath Bank whilst retail interest was noted in Tess Agro, SMB Leasing and S

T-bill auction falls short as 4.7% of offered amount being accepted

Ahead of today’s T-bond auction, the secondary market saw some selling pressure in the morning hours. The 2028 maturities traded between 10.30 percent - 10.65 percent, while the 2029 and 2031 maturities were traded at 11.00 percent and 11.25 percent, respectively.

Verdant Capital infuses US$ 13.5mn in powering LOLC Africa’s MSME expansion

Verdant Capital has announced that its Verdant Capital Hybrid Fund (the “Fund”) has completed an additional investment of US$ 4.5 million in LOLC Africa Singapore Limited (“LOLC Africa”).

CFA Society Sri Lanka’s Capital Market Awards in June

The CFA Society Sri Lanka has announced that its signature event, the annual CFA Society Sri Lanka Capital Market Awards, now in its 12th year, is scheduled to be held on June 24 June at ‘Cinnamon Life at City of Dreams’. With a firm purpose of recognizing and rewarding excellence in the local capital markets, the coveted CFA Society Sri Lanka Capital Market Awards stand among the most sought-after investment industry accolades today.

Market Research Society appoints New Committee for 2025

The Market Research Society of Sri Lanka (MRSSL) recently held its 12th Annual General Meeting, where Suthaharan Perampalam was elected as the President for 2025.

NTB appoints new Independent Non-Executive Directors

Nations Trust Bank PLC has announced the appointment of three Independent Non-Executive Directors to its Board, welcoming Arjuna Kumar Wignaraja, Dr. Roshan Anne Perera, and Coralie Pietersz as its newest Directors. Arjuna KumarWignaraja is a professional with expertise in business strategy, private equity, and governance. He started his career at the Boston Consulting Group and has held numerous leadership roles at Stax, and Cerberus Frontier.

Union Assurance records Rs. 5.2 bn PBT

Union Assurance PLC has recorded a strong financial performance with growth across key metrics for the year ending December 31, 2024.

Fitch rates Commercial Bank’s Proposed Basel III Subordinated Green Bond ‘A(EXP)(lka)’

Fitch Ratings has assigned Commercial Bank of Ceylon PLC’s (COMB; AA-(lka)/Stable) proposed Sri Lankan rupee-denominated Basel III-compliant subordinated green bonds of up to LKR15 billion an expected National Long-Term Rating of ‘A(EXP)(lka)’.

Sampath Bank adjudged ‘Best Commercial Card Issuer’ by Visa

Sampath Bank was recognised as the Best Commercial Card Issuer in Sri Lanka for the second consecutive year by Visa, reaffirming its leadership in the commercial payments sector. The accolade was presented at the Visa Leadership Conclave 2025 – Visa Commercial Solutions, held at Hilton Colombo recently.

COYLE spearheads Advisory Council for economic resilience

The Chamber of Lankan Entrepreneurs (COYLE) is seeking to collaborate and offer support to government officials by assembling a panel of export oriented industry specialists in this time of need.

Azend Technologies concludes Management Buy Out

Azend Technologies announced the successful completion of a management buyout (MBO) on April 8. This strategic move marks the conclusion of a productive four-year joint venture with Innovation ThreeSixty (Private) Limited and Diesel & Motor Engineering PLC.

McLarens Group elevates Occupational Health and Safety in Sri Lanka

McLarens group recently hosted the 3M-McLarens Occupational Health and Safety Symposium 2025, marking a historic milestone in Sri Lanka’s commitment to workplace safety.

NDB Credit Card benefits extend beyond seasonal offers

As the festive season approaches, Sri Lankans prepare to embrace joy, celebrations, and memorable moments. However, the benefits of an NDB Credit Card extend beyond seasonal offers, providing year-round peace of mind, unmatched convenience, and financial flexibility. Here’s how NDB Credit Cards stand out as your perfect companion for every occasion.

BOI targets 3Q25 to start construction at Northern investment zones

The Board of Investment (BOI) said yesterday that efforts are underway to accelerate the initial steps needed to ensure infrastructure facilities are in place at the proposed investment zones in Kankesanthurai, Paranthan, and Mankulam, aiming for investors to begin construction by the end of the third quarter.

SLIC Life reports Rs. 30.7 bn PBT in 2024

Sri Lanka Insurance Corporation Life Limited (SLICLL) concludes year 2024 with outstanding financial performance, achieving a remarkable profit before taxation of Rs. 30.7 billion.

Sri Lanka set to miss 2025 tourist arrival target by half a million: First Capital Research

Sri Lanka’s tourism recovery is facing significant headwinds, with new projections suggesting that the island nation will fall half a million visitors short of its ambitious 3 million arrival target this year.

Siyapatha Finance announces Rs.5 bn debenture issue

Siyapatha Finance PLC announced yesterday a move to raise up to Rs. 5 billion through the issuance of listed, rated debentures.

ASPI bounces back with daily gain of 3.19%, the largest so far in 2025

Indices closed in green as a result of price gains in counters such as Commercial Bank, John Keells Holdings and Sampath Bank with the turnover crossing Rs. 2.8 bn.

Selling sentiment lingers, but yields hold firm

Yesterday, the prevailing selling sentiment in the secondary market continued, with some foreign selling also observed.

HNB becomes first bank to eliminate merchant discount rates for LANKAQR transactions

In a significant move to accelerate the adoption of cashless transactions, Hatton National Bank (HNB) has become the first bank in Sri Lanka to eliminate the merchant discount rates (MDR) for LANKAQR transactions.

DFCC Bank introduces 10-day Express Home Loan

DFCC Bank has launched Sri Lanka’s first fast-tracked housing loan, DFCC Express Home Loans.

SLT-Mobitel unveils new national business directory

SLT Services (Pvt.) Limited, a fully-owned subsidiary of SLT-Mobitel, has launched national business directory 2024/25 (The Rainbow Pages)—a comprehensive and upgraded directory catering to government procurement, micro, small and medium businesses (MSMBs) and enterprises.

SL-Benelux Business Council holds AGM

The Sri Lanka-Benelux Business Council (SLBBC) of the Ceylon Chamber of Commerce conducted its 29th Annual General Meeting (AGM) recently on the Ceylon Chamber premises.

Assetline Finance expands reach

Assetline Finance Limited has taken a significant step in expanding its footprint and reinforcing its commitment to financial empowerment with the opening of its latest branch in Kottawa.

People’s Bank offers gifts for Avurudu Ganu Denu

People’s Bank is bringing new meaning to the Sinhala and Tamil Avurudu ‘Ganu Denu’ customs by making arrangements to offer gifts to all those who take part in traditional Avurudu Ganu Denu.