Melstacorp reports solid December on key segment performance

Melstacorp PLC reported some solid financial performance for the three months ended in December 2024 on the back of improved performance from some business segments that was possible from improving top-lines and margins which also helped from lower direct costs.

Dredging operation at H’tota Int’l Port to restore harbour depth

The Hambantota International Port (HIP) began maintenance dredging this month, in order to restore the harbour’s original depth.

Pro Realtors Academy unveils SL’s 1st real estate education programme

Pro Realtors Academy, the first and only real estate education programme in Sri Lanka, has been officially launched by Transco Properties and is set to reshape the country’s real estate industry by creating real estate professionals on par with international standards.

SEC-CSE conduct USJ issuer awareness session

The Securities and Exchange Commission of Sri Lanka (SEC), in collaboration with the Colombo Stock Exchange (CSE),

Austin House poised to raise beauty and wellness ‘bar’

Austin House, the brainchild of Shirantha Peries, founder of the Mega Pharma group of companies, will be extending his considerably extensive portfolio when he opens the doors of the Austin House Aesthetic Centre to women and men who are looking for a difference in the beauty care and wellness sphere.

Hayleys Fentons brings Aerosafe fire and smoke curtains to Sri Lanka

Hayleys Fentons has signed an exclusive distribution agreement with Hira Industries LLC to bring Aerosafe fire and smoke curtains to Sri Lanka, marking a major milestone in the country’s fire safety landscape.

Dentsu Grant Group secures highest tally at Effie Awards

Dentsu Grant Group reaffirmed its position as a leader in Sri Lanka’s advertising industry with an outstanding performance at Effie Awards Sri Lanka 2024, securing 15 awards—the highest tally for a single agency this year.

Unilever Sri Lanka inaugurates Foods Factory for Viva and Horlicks brands

Unilever Sri Lanka inaugurated a new Foods Factory at the Lindal Industrial Processing Zone in Sapugaskanda, graced by Industry and Entrepreneurship Development Minister Sunil Handunneththi.

TiE Colombo’s exclusive Stanford Seed Spark Programme to empower local entrepreneurs

The Colombo Chapter of TiE Global, a Silicon Valley-founded organisation also known as The Indus Entrepreneurs, recently unveiled the exclusive Stanford Seed Spark Programme, aimed at empowering the budding start-up founders, to scale their ventures to the next level.

HNB Assurance Group records 21% GWP growth in 2024

HNB Assurance Group (HNBA and HNBGI) posted yet another year of remarkable performance, improving on its impressive growth rate maintained over the last few years.

Pan Asia Bank introduces ‘Drive Your Dream Sooner’ leasing offer

Pan Asia Bank is making vehicle ownership easier and faster than ever with its latest leasing offer – ‘Drive Your Dream Sooner’.

LIC Lanka gets Prameela Ramanadhan as new CEO

Prameela Chittazhi Ramanadhan took charge as CEO and MD of Life Insurance Corporation (Lanka) Ltd (LIC Lanka) on February 19, 2025.

DFCC Bank hosts Annual Branch Managers’ Conference

DFCC Bank recently held its Annual Branch Managers’ Conference 2025 at Cinnamon Grand, Colombo, bringing together its leadership team and branch managers from across the country.

NCE voices concerns over proposed SVAT system removal

The National Chamber of Exporters of Sri Lanka (NCE) expressed its apprehension regarding the proposed removal of the simplified value added tax (SVAT) system and its replacement with a streamlined value added tax (VAT) refund mechanism.

The small-scale gem industrialists in Monaragala expressed their concerns,

The small-scale gem industrialists in Monaragala expressed their concerns, highlighting the hardships they face when running this cottage industry and urged the authorities to provide formal training in lapidary.

Sri Lanka to sign debt restructuring with Hungary

The government will soon enter into an agreement on debt restructuring with Hungarian Export Credit Insurance Private Limited (HECIPL), which will include the loan concessions, under the debt restructuring exercise.

Less activity in Iran continues to impact tea prices

At the Colombo Tea Auction this week, less activity from Iran continued to impact the tea prices, in general.

Unilever opens Rs.3.8bn malt drink and food manufacturing plant

Unilever this week commenced the operations of a Rs.3.8 billion malt beverage and food manufacturing plant, under the popular Viva brand, marking the multinational’s largest investment in South Asia, according to the Industries Ministry.

ADB-WB’s FMRF to increase development impact

The Asian Development Bank (ADB) and World Bank (WB) signed a new groundbreaking Full Mutual Reliance Framework (FMRF) on February 20, to deepen their collaboration on cofinanced public sector projects.

ISBs, loan-related provision reversals lift Sampath Bank Dec. profits

Sampath Bank PLC saw its December quarter receiving a massive lift from the reversals of provisions on the International Sovereign Bonds (ISBs) and also the substantially lower provisions made for loans, due to the improving borrower profiles in a recovering economy.

Week ends in green

Indices closed in green as a result of price gains in counters such as Commercial Bank, Melstacorp and John Keells Holdings with the turnover crossing Rs. 3.5 Bn. High net worth and institutional investor participation was noted in Commercial Bank, Sampath Bank and John Keells Holdings. Mixed interest was observed in National Development Bank, Hatton National Bank and CIC Holdings nonvoting whilst retail interest was noted in Browns Investments,

Secondary market sees profit following three days of buying

The secondary market experienced a slight increase in rates amidst profit taking, leading to lower activity and moderate volumes in the secondary market. Meanwhile, the Central Bank announced a bond auction to be held on February 27, 2025, where the Central Bank is planning to raise Rs.27.5 billion from two maturities under 15.06.29 and 15.12.32.

Ceylinco Life pledges Rs 22.4 mn for ‘Pranama’ scholarships in 2025

Ceylinco Life has announced an allocation of Rs. 22.4 million to be paid out as scholarships to high achieving young Sri Lankans in 2025, continuing a flagship rewards programme the company launched more than two decades ago.

British Council supports three Sri Lanka-UK collaborations through CTC Grant Programme

The British Council has announced the recipients of the 2024 Connections Through Culture (CTC) Grant Programme, with three Sri Lankan projects awarded grants for the first time since the programme’s inception.

KIST partners with SUNPF for Sri Lanka’s first ever Fruit Festival

KIST announced its partnership with the Scaling Up Nutrition People’s Forum (SUNPF) for Sri Lanka’s first-ever Fruit Festival, taking place on the 21st and 22nd of February 2025 at the Colombo Public Library premises, with free entry for all attendees.

Sun Match Company marks Founder’s death anniversary

Sun Match Company hailing from the hill capital Kandy that introduced to the Sri Lankan household the first wax coated safety matches with the brand ‘Soorya’ marked the twenty second death anniversary of its Founder, the Late T.R.R. Rajan by donating the 240th prostrate limb.

Unique Industrial Solutions wins two Pinnacle Awards for Safety Excellence

Unique Industrial Solutions Pvt. Ltd., a supplier of safety equipment and environmental & industrial engineering solutions in Sri Lanka, was honoured with the Best Safety Solutions and Equipment Supplier of the Year (Under Safety category) and Best Entrepreneur of the Year (Safety Equipment Supplier) awards at the Pinnacle Sri Lanka Awards 2024.

Spa Ceylon adopts SOS Children’s Village in Galle

Spa Ceylon continues its commitment to caring for the well-being of communities by adopting the entire SOS Children’s Village in Galle.

Barista’s ‘Share a Meal’ raises Rs. 3.6 mn for children in need

Barista’s “Share a Meal” campaign has successfully raised Rs. 3,629,639.06 in 2024, continuing its mission to assist children in need at SOS Children’s Villages Sri Lanka. This marks the fifth consecutive year of the initiative, which has experienced consistent growth and increased community involvement.

Chatham Luxury holds private preview of Chopard’s latest watch and jewellery collection

Chatham Luxury - the exclusive representative of Chopard in Sri Lanka- held a private preview of the Swiss luxury brand’s newest watch and jewellery collections on January 23 at the Chatham Flagship Boutique at Galle Face Court; making it the first time a global jewellery label showcased in Sri Lanka.