Hearts open, wallets follow as Valentine’s Day sparks spending surge

Valentine’s fever has gripped Colombo with more than just romantic gestures, with spending patterns reflecting a newfound optimism. As consumer confidence continues to rise post-crisis, florists, hotels, and restaurants are seeing an increase in demand for Valentine’s offering and sales are expected to exceed last year’s highs. A walk through Colombo’s Dean Street showed a busy consumer market regaining its footing. Florists, busy making a range

SL faces potential US anti-dumping duties on paper file folders

Sri Lanka, along with Cambodia, face possible anti-dumping duties over alleged less than fair value (LTFV) imports of paper file folders into the United States.

Hints at upward growth revision

As Sri Lanka delivered a better-than-expected performance in 2024, the Asian Development Bank (ADB) said it is likely to revise upwards its economic growth forecast for 2025. Economists at ADB Sri Lanka shared that while work is ongoing to assess the outlook scenario, projections will “very likely” be upwards for the island nation. However, the team pointed out that all eyes are on the 2025 Budget, which will be presented by President Anura Kumar

CIC Holdings posts 7.5% revenue growth

Diversified agribusiness conglomerate CIC Holdings PLC recorded a 7.49 percent year-on-year increase in revenue to Rs. 64.66 billion for the nine months ending 31 December 2024, driven by strong contributions from its key business segments.

Healthguard Distribution-Breathe Free Lanka to enhance Cipla’s portfolio in SL

Healthguard Distribution, the full-fledged pharmacy distribution arm of Sunshine Holdings PLC, recently entered into a strategic partnership with Breathe Free Lanka Private Ltd, a wholly-owned subsidiary of the leading global pharmaceutical company, Cipla Limited.

Buying interest rises following T-Bond auction

Yesterday’s bond auction saw increased levels of demand and buying interest on both 2028 and 2029 maturities, as the Central Bank of Sri Lanka raised a total of Rs. 67.5bn. 2028 maturity was fully accepted where Rs. 37.5bn was accepted from total bids received of Rs. 78.8bn and the 01.09.2028 bond closed at a weighted average yield rate of 10.31%. Rs. 30.0bn was accepted from the total bids received amount of Rs. 107.2bn on the 2030 maturity. The

Richard Pieris Group PBT up by 137% to Rs.5.4bn in first nine months

Richard Pieris Group, one of Sri Lanka’s largest and most diversified conglomerates, has achieved a Profit Before Tax (PBT) of Rs.5.4 billion during the first 9-month period ending 31st December 2024.

Indices bounce back

The ASPI closed in green as a result of price gains in counters such as Ceylinco Holdings, Central Finance Company and Sampath Bank with the turnover crossing Rs. 3.5 bn.

CareerOne platform to enhance TVET career guidance

The Tertiary and Vocational Education Commission (TVEC) of Sri Lanka announced the official launch of the CareerOne Career platform (www.careerone.gov.lk), a groundbreaking initiative aimed at transforming career guidance and employment services in the technical and vocational education and training (TVET) sector. Funded under a US $ 6 million initiative of Korea International Cooperation Agency(KOICA) (2023-2026), this project has successfully

SLIM Brand Week 2025 to deliver insights, inspiration, solutions

SLIM Brand Week 2025, the highly anticipated annual flagship event hosted by the Sri Lanka Institute of Marketing (SLIM), the apex body representing the marketing fraternity, is set to transform Sri Lanka’s marketing landscape once again.

NDB Bank and Automobile Association empower motoring community

NDB Bank has partnered with the Automobile Association of Ceylon (AAC) to introduce an exclusive Affinity Credit Card programme for its members.

Samsung SL unveils Galaxy S25 series

Samsung Sri Lanka has officially launched the highly anticipated Galaxy S25 Ultra, Galaxy S25+ and Galaxy S25, setting a new benchmark in AI-driven mobile experiences.

Dialog Television Brings CoComelon and More to Sri Lanka with Moonbug Channel Launch

Dialog Television, Sri Lanka’s #1 Pay-TV provider, has partnered with Moonbug Entertainment, to bring hit children’s shows CoComelon, Blippi, Little Angel, and more to families across the country.

Kaspersky warns of Valentine’s Day scams targeting gift buyers

With the most romantic holiday of the year approaching, love is in the air – along with online scams and phishing. As couples prepare to celebrate with flowers, love letters and carefully selected gifts, cybercriminals are setting fake websites, offering perfect bouquets, beautiful engagement rings or even Apple gadgets.

Diva celebrates entrepreneurial skills development programme winners

The ‘Diva Daathata Diriyak’ entrepreneurial skills development programme organised by Diva, the flagship laundry care brand by Hemas Consumer Brands in partnership with Women in Management (WIM), has continuously empowered women with the knowledge, skill and confidence required to navigate the entrepreneurial challenges faced in today’s economic landscape.

Mega Lifesciences approaches 25 years in Sri Lanka

In Sri Lanka, Mega Lifesciences celebrates almost 25 years in operation and has a range of wellness products. Its products are now household names, amongst them being Livolin Forte for liver health, Calcivita Forte for osteoporosis and Enat 400 for heart and liver health, not forgetting the wonder skin care tablet Glow of course. Mega Lifesciences President International Paramjit Singh Sawnhey was in Sri Lanka recently and met some of the compan

NEO Technologies celebrates ‘Pillars of Growth’ with tribute to loyal staff

NEO Technologies, a unique boutique security firm, celebrated its ‘Pillars of Growth’ by honouring its most loyal, long-standing staff members over three decades as Bren Security, Securitas SL and NEO Technologies.

Defining the year for corporate sustainability: Insights from Compass 2025

Compass 2025, the annual flagship event of the UN Global Compact Network Sri Lanka (Network Sri Lanka), set the stage for a transformative year in corporate sustainability.

Two national budgets in 2025 possible: KPMG

Sri Lanka could potentially see a unique fiscal year in 2025, with the possibility of two national budgets being presented, according to KPMG Sri Lanka.

Sunshine Holdings 3Q profits under pressure as higher taxes weigh on consumer demand

Sunshine Holdings PLC’s third quarter performance showed that the Sri Lankan consumer still remains weak amid higher taxes, specially the higher value added tax (VAT).

Cargills records strong 3Q performance; optimistic about 2025

Leading blue-chip company Cargills (Ceylon) PLC reported a strong bottom-line performance for the last quarter of 2024,

Cartoon of the Day 13-02-2025

Priorities in Focus: Will Budget 2025 address Sri Lanka’s agricultural challenges?

The agricultural sector in Sri Lanka has long been a pillar of the nation’s economy, yet its decline reflects a complex interplay of economic shifts, policy decisions, and underutilised potential.

EDB-NOCU kicks off island wide awareness campaign from Jaffna

The National Organic Control Unit (NOCU), the competent authority for organic agriculture in Sri Lanka under the Sri Lanka Export Development Board (EDB), launched its island wide initiative of awareness programmes to promote organic farming practices recently.

Jaffna’s 3axislabs surpasses 100,000 global users with MindMap AI

Jaffna-based 3axislabs is expanding its Sri Lankan operations to meet growing international demand for its services.

People’s Bank joins GovPay platform via People’s Pay

People’s Bank announced the seamless integration of its People’s Pay Digital Wallet App with ‘GovPay,’ Sri Lanka’s groundbreaking digital payment platform.

Record-breaking entries at Effie Awards Sri Lanka 2024

The Sri Lanka Institute of Marketing (SLIM) announced a significant increase in entries for the Effie Awards Sri Lanka 2024,

CTC bestows Chairman’s Award on Roshan Dissanayake

Ceylon Tobacco Company PLC (CTC) recently held its awards ceremony at Cinnamon Life, Colombo where CTC’s highest honour the ‘Chairman’s Award – 2024,’

Fitch upgrades Abans PLC rating

Fitch Ratings recently upgraded the National Long-Term Rating of Abans PLC from ‘AA-(lka)’ to ‘AA(lka)’, with a Stable Outlook.

Standard Chartered appoints Chamath Athulathmudali as Financial Controller

Standard Chartered Sri Lanka has appointed Chamath Athulathmudali as Financial Controller, effective 1 February 2025.