Great Place To Work Sri Lanka launches Great Urban Challenge 2025

Great Place to Work Sri Lanka announced the launch of The Great Urban Challenge, an exciting and dynamic team-building event designed to inspire collaboration, creativity and camaraderie among corporate teams. Scheduled to take place on February 22, 2025, from 7:00 a.m. – 1:30 p.m., this one-of-a-kind experience promises to take participants on an unforgettable journey through the heart of Colombo.

Datatech Lanka honoured with 2 national awards for excellence

Datatech Lanka (Pvt.) Ltd, a premier Japanese education centre in Sri Lanka, has been honoured at National Entrepreneur Excellence Presidential Awards 2024, organised by the Sri Lanka Young Entrepreneur Association. Managing Director Sir Thilina Chamara Maduneth Gulavita received Asian National Entrepreneur Excellence 2024 award for his outstanding leadership and entrepreneurial vision.

The Residencies Kotte by ICC marks remarkable construction progress

The Residencies Kotte by ICC is poised to transform apartment living with the near completion of its expansive recreational area—an elevated space spanning over an acre, meticulously designed to foster community and well-being.

SLT-Mobitel Nebula Institute achieves recognition at Pearson BTEC Forum

SLT-Mobitel Nebula Institute of Technology, the educational arm of SLT-Mobitel, has been honoured with international recognition at the prestigious Pearson BTEC Higher Education Forum 2024, highlighting the second consecutive year of acknowledgement for excellence.

Next 6 months critical for SL to leverage geopolitical shifts: Tax expert

As Sri Lanka stands at a critical juncture in its economic development, after facing what was the worst crisis in history, the first half of 2025 (1H25) would be a critical period for the island nation, a tax expert said.

China pledges deeper ties with Sri Lanka

China yesterday pledged support to Sri Lanka, with President Xi Jinping expressing readiness to collaborate with the island nation towards a new era of development.

One World Duty Free enters South Asia with Colombo store

One World Duty Free (ODF), Singapore’s first home-grown omnichannel duty-free brand, has entered the South Asian market with the opening of its newest store at Port City Duty Free Mall in Colombo.

Cartoon of the Day 16-01-2025

Cement prices to drop by Rs.100

The price of a bag of cement will drop by approximately Rs.100, following a decision to lower the prevailing cess, the Finance Ministry announced.

SEC extends deadline for corporate finance advisor licensing

The Securities and Exchange Commission of Sri Lanka (SEC) has extended the deadline for individuals and entities engaged in corporate finance advisory activities to obtain a licence until March 31, 2025.

ASPI gains 1.42% during the day

Indices closed in green as a result of price gains in counters such as Sampath Bank, DFCC Bank and National Development Bank with the turnover crossing Rs. 4.4 Bn.

Yield curve declines at short end following weekly T-bill auction

The Central Bank conducted the weekly T-bill auction, raising Rs.107.0 billion, with the total offered amount being fully accepted across all maturities.

Prime Lands Residencies set to transform urban landscape with Colombo Border project

Prime Lands Residencies PLC is set to transform Sri Lanka’s urban landscape with its ambitious Colombo Border project.

Canelro Colour Coatings sets benchmark with ISO certification

Canelro Colour Coatings (Pvt) Ltd has achieved a significant milestone by obtaining the ISO 9001:2015 Quality Management Systems certification.

C.W. Mackie appoints two Independent Non-Executive directors

C.W. Mackie PLC announced the appointment of Indrajit Asela Wickramasinghe and Shrihan Blaise Perera as Independent Non-Executive Directors, effective 30 December 2024.

Pan Asia Bank unveils Digital Zone in Ambalangoda

Pan Asia Bank announced the launch of its latest Digital Zone in Ambalangoda, bringing cutting-edge banking solutions to the vibrant coastal community.

B. Singhage appointed to United Motors Lanka board

The Board of Directors of United Motors Lanka PLC, announced the appointment of B. Singhage as an Executive Director, to the board effective January 1, 2025.

Acuity and Kelaniya University jointly conduct 10th edition of Inter-University Quiz Competition

Acuity Knowledge Partners (Acuity), continues its quest to nurture finance professionals by supporting the Inter-University Finance Quiz Competition’ for the 10th consecutive year, which was held successfully in partnership with the Department of Finance, University of Kelaniya.

US$ 5 bn ICT export economy target well within reach: JXG

Janashakthi Group (JXG) Group Chief Information Officer K.V. Kuganathan in this interview discusses Sri Lanka’s IT landscape and the company’s digitalization strategy.

Adapt IT shines among Asia’s technological giants

Adapt Information Technologies (Pvt) Ltd (AIT) has achieved remarkable recognition, being ranked the 80th Best Technological Company in Asia under the micro category at the Great Place to Work (GPTW) awards ceremony held in Colombo.

Sri Lanka joins global fight to protect oceans

Greenpeace South Asia commends the Sri Lankan Cabinet of Minister’s approval for the proposal made by the Minister of Foreign Affairs, Foreign Employment and Tourism to sign the Agreement on Biodiversity in Areas Beyond National Jurisdiction (BBNJ).

Wheat flour regulation hits doughy patch with industry

​Sri Lanka’s new food regulation, mandating an 80 percent extraction rate for wheat flour has raised serious concerns across the industry, with stakeholders warning that its immediate roll-out could alter consumption patterns, and in turn have adverse effects on key sectors.

Worker remittances cap highest in four years with US$ 6.6bn coming in

Money sent home by Sri Lankan workers abroad in 2024 recorded its highest level since 2020, making it possible for the country’s external sector to return to its pre-crisis era of inflows from its largest source of foreign income. Sri Lankans working abroad sent home a sizable US$ 613.8 million in December 2024 as remittances, up from US$ 569.7 million in the same month last year and also from the US$ 530.1 million in November.

Normalised corporate earnings dip in September quarter despite robust earnings

Normalised corporate earnings of Sri Lanka’s publicly quoted companies saw a 16 percent year-on-year (YoY) dip in the September quarter, despite posting robust earnings driven by an improving economic landscape, according to First Capital Research (FCR).

Hatton Plantations’ coffee harvest to hit market in 2026 under Rs.1 bn venture

Sri Lanka’s Hatton Plantations PLC expects the first batch of coffee harvest to hit the market in 2026, having a target to enter export markets in 2030 in a bid to position the country once again among key coffee export destinations.

1 -9 January tourist arrivals up 22% YoY

Tourist arrivals to Sri Lanka have crossed the 70,000 mark within the first 9 days of December, provisional data from Sri Lanka Tourist Development Authority (SLTDA) showed.

Tourism earnings eclipse US$ 3bn in 2024

Tourist arrivals and earnings saw a solid recovery last year on the back of a relative political stability, economic recovery, destination marketing and Sri Lanka featuring among the top travel destinations globally due to its diverse and differentiated offerings for globetrotters.

Sri Lanka breaks ground for US$ 120 mn Marina at Port City to boost tourism

Sri Lanka took a major step toward its tourism ambitions with the kickoff of the Marina development at Port City Colombo, a project set to transform the island into a luxury travel hotspot in South Asia.

Private credit gains steam on lower rates, economic revival

The commercial banks extended their months-long streak of growth in their loans to the private sector through November 2024. This reflected their willingness to lend more aggressively than before and also the appetite by the private individuals and businesses for more credit to support their consumption and investment needs in tandem with the robust recovery seen in the economy.

Can debt-for-climate and nature swaps help make Sri Lanka’s debt more manageable?

Sri Lanka’s economic crisis, fuelled by unsustainable debt and a default in 2022, left the country struggling to stabilise its economy. Its high climate vulnerability that disrupts livelihoods exacerbated the economic challenges. In the face of dual pressures from an economic crisis and climate vulnerability, the need for alternative approaches to financial recovery has never been more urgent. Therefore, debt-for-climate-and-nature (DfCN) swaps c