Marlon Ferreira wins award for entrepreneurship

Marlon Ferreira has won the 21st award for entrepreneurship at the Sri Lankan Entrepreneur Awards 2025.

Dhammika Fernando re-elected FTZMA Chairman

Free Trade Zone Manufacturers Association (FTZMA) held its 44th Annual General Meeting at Jetwing Colombo Seven recently.

Sri Lanka emphasises equitisation to reform SOEs and bolster capital markets

The government is prioritising equitisation as a key strategy to enhance the governance of state-owned enterprises (SOEs) and inject liquidity into the capital market, instead of embracing full privatisation, which has garnered negative sentiment among the Sri Lankan public, according to the comments by Securities and Exchange Commission of Sri Lanka (SEC) Chairman Senior Professor Hareendra Dissabandara.

VAT to drive one-third of govt.’s Rs.922bn revenue increase in 2025

Nearly one-third of a Rs.922 billion rise in the government’s revenue projection for 2025 is expected to be driven by the value added tax (VAT), an analysis conducted by local analytics platform PublicFinance.lk showed.

IRD introduces tax relief for small savers with new self-declaration system

Sri Lanka’s Inland Revenue Department (IRD) has introduced a simplified self-declaration process to alleviate the 10 percent advance income tax (AIT) burden on interest earnings for the low and middle-income earners.

SL’s external sector shows mixed performance in February

Sri Lanka’s external sector showed a mixed performance in February 2025.

Sri Lanka to host FinTech World Cup Regional Competition for first time

The Fintech Association of Sri Lanka (FASL), in strategic partnership with Port City Colombo, will host the FinTech World Cup (FWC) Regional Competition for the first time on April 23, 2025, from 4:00 p.m. to 6:00 p.m., at Port City Colombo.

Free visa scheme expected to secure Cabinet approval within 2 weeks

The free visa scheme, proposed for 39 countries, is expected to secure the Cabinet approval within the next two weeks, before being tabled in Parliament for the final approval, according to Tourism Deputy Minister Prof. Ruwan Chaminda Ranasinghe.

Sakura Power Solutions eyes market share boost in SL

Sakura Power Solutions is expecting a significant boost in its market share in solar power generation in Sri Lanka, along with plans to enter the Maldives later this year, after becoming the exclusive distributor of the Japanese-origin Leapton brand in the two countries.

SLIM-Kantar People’s Awards Cargills Food City, Supermarket Brand of the Year

Cargills Food City has been named as the Supermarket Brand of the Year at SLIM-Kantar People’s Awards 2025, marking an impressive fourth consecutive year of receiving this prestigious recognition.

Maldives Int’l Education and Wellness Expo in June

The Maldives International Education and Wellness Expo, an event that brings together educators, health professionals, wellness experts and businesses from around the globe, will be held from June 13-15 in Hulhumale, Maldives.

Union Bank revamps UBgo mobile banking platform

Union Bank, as part of its digital agenda, recently unveiled several new features to its mobile banking platform UBgo.

Unilever SL with IDB and WCIC supports women-led microentrepreneurs

Unilever Sri Lanka and the Industrial Development Board (IDB) of the Industry and Entrepreneurship Development Ministry handed over the second round of financing to 10 female microentrepreneurs.

Construction activity in Sri Lanka continues to expand in February

Sri Lanka’s construction sector continued to expand in February, with increased construction activity reported by most respondents, according to the Central Bank.

Fitch assigns State Mortgage & Investment Bank first-time National Long-Term Rating of ‘BBB(lka)’

Fitch Ratings last week announced it assigned State Mortgage & Investment Bank (SMIB) a first-time National Long-Term Rating of ‘BB(lka)’. The Outlook is Stable.

Asia Capital settles three-year dispute with Japanese multinational Belluna

Asia Capital PLC (ACAP) has reached a settlement with Japanese multinational Belluna Co. Ltd., resolving a three-year dispute, resulting in Asia Capital receiving Rs. 783 million, a company statement said.

CMA CGM’s car carrier makes maiden call at Hambantota Port

Hambantota International Port (HIP) welcomed the CMA CGM Silverstone, a pure car carrier operated by CMA CGM, on it’s first-ever call at a Sri Lankan port on March 21. This event highlights HIP’s growing importance as a regional hub for vehicle transshipment.

BOC announces plans to raise up to Rs. 15 bn via debentures

State-owned Bank of Ceylon (BOC) plans to raise up to Rs. 15 billion by issuing BASEL III compliant, Tier 2, listed, rated, unsecured, subordinated, redeemable 5-year debentures with Non-Viability Write down Features.

Rising cyber threats in digital payment networks: A global crisis and Sri Lanka’s path to resilience

The global transition to digital payments has redefined financial transactions, delivering speed and convenience. However, this shift has also created a fertile ground for cybercriminals exploiting digital infrastructure worldwide.

Optimism among Swedish companies working with Sri Lanka

Growth in the last five years, growth in 2024 and optimism for 2025. These are some of the key findings from the Sweden-Sri Lanka Business Council’s (SSLBC) 2025 Membership Survey. The results are also a reflection of the increasing interest for Sri Lanka among Swedish companies. In two years, the number of members of the SSLBC has grown from 75 to 100. “The results are encouraging. Our members have developed their business relations with Sri Lan

McLarens Lubricants hosts technical seminar for industrial sector

McLarens Lubricants Ltd, the authorised distributor of ExxonMobil products in Sri Lanka, marked the successful conclusion of the Industrial Technical Seminar recently, at Cinnamon Grand.

ALFT’s packaging masterclass empowers SL’s leading consumer brands

ALFT Packaging, Sri Lanka’s pioneer in Flexible packaging, successfully concluded an exclusive three-day masterclass titled ‘Unboxing the Future of Flexible Packaging’, in partnership with Miraclon, a frontrunner in the global shift to flexography.

Ogilvy’s Geometry Global wins Bronze at ADFEST 2025

Geometry Global, a strategic business unit of Ogilvy Group Sri Lanka, continued its winning streak at international advertising awards by clinching a Bronze Sustainable Lotus Award at ADFEST 2025 in Pattaya, Thailand.

Chandana appointed to UK’s Teletext Holidays board

Island Leisure Lanka (Pvt.) Ltd Managing Director Chandana Amaradasa was appointed as a board member to Teletext Holidays, one of the UK’s largest travel companies. He is the first Sri Lankan to be appointed to a position of this nature in the British travel sector.

Sysco LABS’ Shanthi Rajesh joins SLASSCOM panel on diversity in technology

Sysco LABS was represented at SLASSCOM Women in Tech Conference 2025 by Sysco Director Cybersecurity, Sysco LABS and Business Information Security Officer APAC Shanthi Rajesh, who joined an expert panel discussion on ‘Closing the Gender Gap in Tech: Strategies, Policies and Workplace Innovation for Equity’.

People’s Bank launches Vanitha Vasana credit card

People’s Bank recently unveiled the Vanitha Vasana VISA Platinum credit card at a special launch event held at Havelock City Mall, Colombo 6.

HNB brings discounts, rewards to cardholders this Avurudu

HNB PLC is ushering in the Avurudu season with a range of discounts, instalment plans and rewards for its credit and debit cardholders. Running throughout April 2025, the promotion includes discounts up to 70 percent, zero percent interest instalment plans and a grand prize draw, with more exciting rewards to be announced soon.

Eiger hosts Gelato Masterclass in Sri Lanka

Eiger Holdings marked a historic moment for Sri Lanka’s culinary landscape by hosting the first-ever Gelato Masterclass recently at Monarch Imperial.

Unimo unveils ‘Brand-New Avurudu Drive’ promo

Unimo Enterprises Ltd has officially launched Unimo Brand-New Avurudu Drive, marking a new era in Sri Lanka’s automobile industry, following the lifting of the five-year import ban. With a strong inventory of Perodua and JMC vehicles readily available, Unimo is set to meet the surging demand as Sri Lankans look to upgrade their rides this Avurudu season.

ComBank offers cardholders Avurudu discounts up to 60%

Commercial Bank’s annual countdown to the Sinhala and Tamil New Year has begun with the launch of the bank’s biggest seasonal promotion to date for credit and debit card holders.