Hayleys Fabric obtains SBTi verification for net-zero targets

In a landmark achievement for Sri Lanka’s textile industry, Hayleys Fabric PLC, together with its subsidiary South Asia Textiles Limited, became the first fabric manufacturer in Sri Lanka to secure validation from the Science Based Targets initiative (SBTi) for its net-zero greenhouse gas (GHG) emissions targets.

Barista celebrates 50th outlet

Barista, Sri Lanka’s largest café chain, opens its 50th outlet, Barista Nawam Mawatha, marking a significant milestone in the company’s journey of brewing happiness across the island.

Advantis harnesses employee-led innovation with Ideastorm | Fast Track

Advantis Group, the transportation and logistics arm of Hayleys, successfully concluded its ideation initiative Advantis Ideastorm | Fast Track, a unique variation of the group’s pioneering ideation platform Advantis Ideastorm. The initiative has delivered a notable boost to the group’s cashflows through innovative ideas generated by the employees.

SLT-Mobitel with Echo System to launch Playstreet gaming platform

SLT-Mobitel recently partnered with Eco System Digital Ventures, a fully-owned and funded entity of Digital Zyndicate Co, to launch Playstreet, an innovative gaming platform.

Lumala employees urge government action to save Sri Lanka’s bicycle industry

The employees of Lumala City Cycle Industries Manufacturing (Pvt.) Ltd are calling for urgent government intervention as their company faces an unprecedented crisis that threatens to shut down one of South Asia’s leading bicycle manufacturers.

Fitch upgrades ratings of 10 Sri Lankan banks

Fitch Ratings has upgraded the National Long-Term Ratings of 10 Sri Lankan banks, following the recent sovereign upgrade and recalibration of the agency’s Sri Lankan national rating scale.

Attracting private sector investments critical for Sri Lanka’s continued growth: World Bank

Sri Lanka must focus on attracting more private sector investment to maintain its hard-earned macroeconomic stability and continued recovery, according to the World Bank.

Benji to increase bra cup manufacturing with US $ 35mn expansion

Italy’s Oniverse has opted to increase investment in Sri Lanka, citing its extensive understanding of the local business ecosystem and renewed confidence in the normalisation of business in the country.

SLINTEC’s oil spill solution boosts SL’s role in marine protection

Sri Lanka has stepped up efforts to contribute to global marine environmental protection with the Institute of Nanotechnology (SLINTEC) unveiling a pioneering graphene-based material designed to absorb oil spills with unprecedented efficiency.

CA Sri Lanka Past President Manil Jayesinghe appointed to IFRS Advisory Council

Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) Past President Manil Jayesinghe, who also serves as South Asian Federation of Accountants (SAFA) Accounting Standards Committee Chairman and CA Sri Lanka Accounting Standards Committee Chairman,

Cartoon of the Day 23-01-2025

T-bill yields take a toll with sharp declines

Yesterday’s treasury bill (T-bill) auction saw a sharp decline in rates across the board.

Turnover crosses LKR 10 Bn

Indices closed in green as a result of price gains in counters such as Hatton National Bank voting & nonvoting and National Development Bank with the turnover crossing Rs. 10.6 Bn.

SLES to explore blueprint for economic transformation at concluding session

The concluding session of the Sri Lanka Economic Summit organised by The Ceylon Chamber of Commerce will explore a ‘Plan for Economic Transformation’, to position Sri Lanka on a strong and sustainable growth trajectory.

Scybers appoints Former Microsoft Security Division Expert to advisory board

Cloud Security Consulting and Managed Services provider Scybers announced the appointment of Prasanna Samarawickrama to its Technical Advisory Board.

First Capital wins Gold and secures four at CA Sri Lanka’s TAGS Awards

First Capital Holdings PLC recently celebrated a momentous achievement at the 2024 TAGS (Transparency, Accountability, Governance, Sustainability) Awards organised by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) for the 59th consecutive year.

Indrajit Wickramasinghe appointed to AIA Sri Lanka board

AIA Insurance Lanka Limited has announced the appointment of Indrajit Asela Wickramasinghe as an Independent Non-Executive Director of the Board of Directors with effect from 07th January 2025, subject to the approval of the Insurance Regulatory Commission of Sri Lanka.

Global experts to inspire at 99x’s Product Xperience Conference

As the countdown begins for 99x’s Product Xperience Conference 2025 on January 28th at the Cinnamon Grand Colombo, all eyes are on the remarkable lineup of global speakers set to share their expertise at the event.

DFCC Bank announces UnionPay acceptance across ATM/CRM network

DFCC Bank announced that its ATM/CRM network now accepts UnionPay International cards via the LankaPay Network.

Ecologic Systems partners with HECS to revolutionise wastewater management

In a move set to revolutionize wastewater management in Sri Lanka, Ecologic Systems, a subsidiary of United Tractor & Equipment (Pvt) Ltd, has joined forces with Hubert Enviro Care Systems Pvt Ltd (HECS).

Bankhill Educare selected ‘Best Preschool Chain’ at World School Summit

Bankhill Educare has won the ‘Best Preschool Chain’ Award at the 23rd Edition of the World School Summit held recently in Kuala Lumpur, Malaysia.

SLT-Mobitel to elevate guest experiences at Colombo Residence Hotel

SLT-Mobitel announced a strategic partnership with Colombo Residence Hotel to transform guest experiences through cutting-edge digital connectivity and entertainment services recently.

HNB Santa Brigade Campaign lights up lives of children

During the holiday season, HNB PLC, in collaboration with Visa, brought to life the true spirit of giving with its transformative ‘Santa Brigade’ campaign.

Apollo Hospitals expands into Sri Lanka launching International Care Center

Apollo Hospitals, India’s leading healthcare provider, has taken a significant step in addressing Sri Lanka’s pressing healthcare challenges with the launch of the Apollo Hospitals International Care Center (AHICC) in Colombo.

Hayleys Plantations’ management symposium demonstrates commitment to sustainability

Hayleys Plantations demonstrated its commitment to innovation and sustainability at its second annual Management Symposium 2024 under the theme: “Intellectual Intervention & Innovation in Plantations towards Sustainability”.

Hutch adopts ‘Sirat NetZero’ platform

Hutch has partnered with Sirat2 sustainability Pvt Ltd to integrate the Sirāt NetZero platform into its marketing operations.

Coconut chamber demands urgent import approval to avert dual crisis

The Ceylon Chamber of Coconut Industries (CCCI), the umbrella organisation for Sri Lanka’s coconut industry, yesterday urged the government to expedite the proposal to import 200 million nuts urgently to avert a looming dual crisis.

Budget 2025 aimed at involving all segments linked to SL’s economic processes: President

The maiden budget by the National People’s Power (NPP) will be formulated with the objective of involving every segment of the population in the country’s economic processes, President Anura Kumara Dissanayake said. The President emphasised the importance of extending the benefits of urban-centered economic activities to the grassroots level and actively involving them in the process, highlighting the need for an economic plan that ensures equita

December inflation records 2% YoY dip, extending deflationary trend to fourth consecutive month

Sri Lanka’s National Consumer Price Index (NCPI) recorded a 2.0 percent year-on-year decline in December 2024, extending the deflationary trend to its fourth consecutive month.

Tourist arrivals cross 100,000 mark within first 2 weeks of January

Tourist arrival crossed the 100,000 mark within the first two weeks of January, recording a Year-on-Year (YoY) increase of 22 percent.