Sysco LABS powers SLIIT CODEFEST 2024: AI Sprint

Sysco LABS recently partnered with the Sri Lanka Institute of Information Technology (SLIIT) as the Platinum Sponsor of SLIIT CODEFEST 2024: AI Sprint.

Mattala Airport struggles as it turns 12

Sri Lanka’s Mattala Rajapaksa International Airport (MRIA) marks its 12th anniversary today but the underutilised facility continues to struggle with financial losses and minimal airline traffic, renewing calls for a strategic overhaul.

Hard Rock Cafe to make Sri Lankan debut at Colombo City Centre by 2H25

US restaurant chain Hard Rock Cafe has sealed a deal with Abans and will be entering Sri Lanka, marking its debut in the island nation.

Upcoming festive season drives economic activities across manufacturing and services

The upcoming festive season gave an additional boost to the already expanding activities across the economy, as both manufacturing and services activities continued to grow through February.

Paddy, tea and coconut production drops, fuelling inflation concerns

Sri Lanka’s agricultural sector is facing a significant downturn, with key crops such as paddy, tea and coconut experiencing sharp declines in production.

SriLankan Airlines could generate US $ 1bn in 3 months with strategic overhaul: Ex-CAA chief

SriLankan Airlines could generate US $ 1 billion in revenue within three months, if the right leadership and policies are in place, said former Civil Aviation Authority (CAA) Chairman Upul Dharmadasa.

Concerns mount over SLSEA’s registration process as solar firms face collapse

The solar power industry leaders have raised serious concerns over the Sri Lanka Sustainable Energy Authority’s (SLSEA) ad hoc registration system, which they claim has left the solar customers vulnerable and exposed to significant risks.

Sri Lanka looks for global partnerships to transform tourism industry

As countries around the world emerge from the challenges of the pandemic, Sri Lanka is positioning itself as a premier tourist destination, aiming to tap into global partnerships to drive its tourism industry forward.

Boating industry set for growth with new regulatory framework

Sri Lanka is working to revitalise its boatbuilding and boating industry, with a newly developed regulatory framework, aimed at enhancing the sector’s growth and competitiveness.

Foreign buying continues

Indices closed in red as a result of price losses in counters such as Melstacorp, National Development Bank and Sampath Bank with the turnover crossing Rs. 1.2 Bn. High net worth and institutional investor participation was noted in Sampath Bank, Access Engineering and Hayleys. Mixed interest was observed in Browns Investments, John Keells Holdings and Lankem Developments whilst retail interest was noted in Industrial Asphalts, HNB Finance rights

Buying stance persists, yield curve dips

Building on the previous week’s momentum, the market participants chose to maintain a buying stance, pushing the secondary market yield curve down across the board by c.10-15bps.

HNB custody and trustee services surpass Rs.1tn AUC

Hatton National Bank PLC (HNB) announced that its custody and trustee services unit has crossed a significant milestone of Rs.1 trillion in total assets under custody (AUC).

Co-operative Insurance Company appoints new Chairman and Vice Chairman

Co-operative Insurance Company PLC announced the appointment of its new Chairman and Vice Chairman, marking a pivotal moment in its journey toward a visionary transformation.

ComBank celebrates Int’l Women’s Day with more than 20 events

Commercial Bank of Ceylon is slashing documentation fees on personal loans, home loans and leasing by 50 percent and offering preferential interest rates on these lending instruments throughout March for holders of ‘Anagi’ women’s savings accounts as part of a series of initiatives to celebrate women.

Seylan Bank’s bundle package accelerates vehicle import, leasing

Following the recent relaxation of vehicle import regulations, Seylan Bank has announced comprehensive bundle packages covering vehicle importation, leasing and insurance.

NDB Bank launches Remittance Festival Rewards campaign

NDB Bank introduced its latest remittance campaign ‘Remittance Festival Rewards!’ bringing an extra touch of joy and prosperity to customers during the festive season.

WNS strengthens commitment to SL with Orion City expansion

WNS Global Services, a leading provider of business process management solutions, announced that it would be expanding its operations significantly in Orion City, Colombo 9.

Chayhane, Colombo’s newest Turkish café now open

Colombo’s culinary landscape just got richer with the launch of Chayhane, a Turkish café located at 27th Lane, Inner Flower Rd, Colombo 3.

Deehiy partners with SITREK Property Deals

Deehiy, the world’s first community-based real estate platform, announces its new strategic partnership with SITREK Property Deals, a recent venture by the renowned SITREK Group.

E.B. Creasy Solar unveils SUNGROW Service Centre

E.B. Creasy Solar, the renewable energy arm of E.B. Creasy & Co., PLC, celebrated the grand opening of the SUNGROW Service Centre and E.B. Creasy Solar Customer Care Centre on March 12, 2025, at 525 Union Place, Colombo 2.

NOLIMIT opens 25th store in Sri Lanka

NOLIMIT, Sri Lanka’s premier retail fashion brand, announced the grand opening of its 25th store in Kalagedihena, marking a significant milestone in the company’s journey of excellence in fashion retail.

BOI empowers International Women’s Day in multiple zones

The Board of Investment (BOI) of Sri Lanka celebrated the International Women’s Day in multiple locations: Biyagama, Katunayake and Wathupitiwala.

‘Global Tech Meetup: Sri Lanka Edition’ held at Hilton Colombo

The ‘Global Tech Meetup: Sri Lanka Edition,’ which focused on raising awareness about artificial intelligence (AI), was recently held at the Hilton Colombo. The meetup was jointly organized by Tech London Advocates (TLA) and Global Tech Advocates (GTA) – Sri Lanka Group, in collaboration with the Asian FinTech Academy (AFTA) and the Sri Lanka Chapter of the Global Academy of Finance and Management (GAFM), based in Colorado, USA.

FitsAir to launch direct flights to Kuala Lumpur from April

FitsAir, Sri Lanka’s first privately owned international airline will launch direct flights to Kuala Lumpur, Malaysia, from 4 April, as part of its regional expansion strategy, the airline said in an announcement.

Sri Lanka’s industrial sector rebounds as economic conditions improve

Sri Lanka is regaining its industrial strength, which weakened during and after the economic crisis in 2022, as reflected in the index that tracks industrial activity.

Sri Lanka’s tourism income hits US$768 mn in first two months of 2025

Earnings from Sri Lanka’s tourism trade has continued to remain robust during the height of the seasonal peak as arrivals have been stronger. This is while the country is being recognised and featured by global publications as one of the most preferred destinations for travel in 2025.

Fintrex Finance lists first high-yield bond on CSE

Fintrex Finance Ltd (FFL) has issued the first-ever high-yield bond to be listed on the Colombo Stock Exchange (CSE), marking a milestone in Sri Lanka’s non-banking financial sector.

Concerns mount over SLSEA’s registration process as solar firms face collapse

Solar power industry leaders have raised serious concerns over Sri Lanka Sustainable Energy Authority’s (SLSEA) ad-hoc registration system, which they claim has left solar customers vulnerable and exposed to significant risks.

February tea production falls 22% YoY as output drops across all elevations

Tea production fell 22% in February from a year earlier, with output declining across all elevations, data from the industry showed.

Plantation industry recommits to community welfare in 2025

Sri Lanka’s Regional Plantation Companies (RPCs) recommitted to driving comprehensive development initiatives to uplift the estate communities.