Dalada Maligawa and People’s Bank launch scholarship programme

Sri DaladaMaligawa and People’s Bank jointly unveiled the ‘Sisu Diriyata Bodu Saviyak’ social service programme during the Central Province Scholarship Award Ceremony of the Sri Lanka International Buddhist Academy Centre held at its auditorium in Pallekele recently.

Seylan Bank strengthens partnership with ‘Kedalla’

Seylan Bank PLC partnered with the Kedalla Art of Living 2024 Exhibition as its Title Partner for the 12th consecutive year. The much anticipated lifestyle exhibition attracted over 12,000 visitors seeking innovative lifestyle solutions.

Union Assurance triumphs with record-breaking wins at 15th NAFLIA Conference

Union Assurance achieved a monumental milestone at the 15th National Forum for Life Insurance Advisers (NAFLIA) Conference held recently at the Monarch Imperial.

First Bond auction for the year notches a partial acceptance

The Central Bank of Sri Lanka conducted its first T-Bond auction for the year, expecting to raise Rs. 190.0bn.

Govt. launches Rs. 10bn subsidised loan for paddy procurement in Maha season

The government announced that it rolled out a Rs.10 billion loan facility under a subsidised interest rate for Small and Medium Scale (SME) Paddy Millers and Cooperative Societies to purchase paddy in the Maha Season 2024/2025.

Banks’ SRR under review for improved policy execution

On the heels of the Central Bank transitioning to a single policy rate from a dual policy rate structure for implementing and communicating the monetary policy, the Central Bank said it is currently in the process of reviewing the Statutory Reserve Requirement (SRR) framework in line with the Flexible Inflation Targeting framework and the international best practices.

Ferentino Tyre targets US$ 300mn export revenue with US$ 250mn phase 2 investment

Sri Lanka’s largest tyre manufacturer, Ferentino Tyre, announced plans to significantly expand its operations with a US$ 250-300 million investment in the second phase of its plant.

Hambantota Port achieves 22% growth in 2024

Hambantota International Port (HIP) recorded a growth of 22 percent in 2024, matching its performance from the previous year.

Emirates on track to become world’s first Autism Certified Airline

Emirates, one of the two flag carriers of the United Arab Emirates (UAE), announced it is all set to officially become the world’s first ‘Autism Certified Airline’.

Sri Lankan non-life insurers on track for profitability improvement: Fitch

Sri Lankan non-life insurers will see underwriting profitability gradually improve as they enhance practices and shift focus to more profitable non-motor segments, according to Fitch Ratings.

BOC’s IRD upgraded to ‘CCC+’

Fitch Ratings has upgraded Bank of Ceylon’s (BOC) Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) to ‘CCC+’ from ‘CCC-’.

UNDP urges authorities to adopt policies that improves youth entrepreneurship

The United Nations Development Programme (UNDP) in Sri Lanka wrapped up the Youth Co:Lab National Youth Dialogue for 2024 yesterday , urging authorities to adopt policies that make youth entrepreneurship a key part of Sri Lanka’s sustainable future.

Indices close on a negative note

Indices closed in red as a result of price losses in counters such as Sampath Bank, Commercial Bank and Melstacorp with the turnover crossing Rs. 4.1 bn.

LOLC Finance introduces SL’s 1st Braille-enabled Mastercard credit card

LOLC Finance has taken a pioneering step toward financial inclusivity by introducing Sri Lanka’s first Braille-enabled Mastercard credit card.

DCSL to redefine brewing landscape with palatable new product launch

Distilleries Company of Sri Lanka PLC (DCSL), a prominent Sri Lankan conglomerate known for its unwavering commitment to quality and innovation that acquired 99.4 percent of Heineken Lanka’s shares from Heineken Asia Pacific Pte Ltd recently, is to redefine the brewing landscape with palatable new product launch.

People’s Bank shines with record-breaking number of awards in 2024

With an impressive array of national and international honours, People’s Bank solidified its position as one of Sri Lanka’s most renowned and honoured financial organisations in 2024.

Pan Asia Bank welcomes 2025

The chairman, CEO, corporate management and staff of Pan Asia Bank ceremonially welcomed the new year at its head office in Kollupitiya on January 1, the first working day for the year 2025.

First Capital Colombo Investor Symposium on January 17

First Capital, one of Sri Lanka’s most respected investment institutions, is set to host the 11th Edition of its renowned First Capital Colombo Investor Symposium on January 17, 2025, at Cinnamon Grand, Colombo. As one of the largest and most significant investor events in the country, this year’s symposium will offer a detailed analysis of Sri Lanka’s Economic Outlook for 2025. The event will focus on critical topics such as market forecasts, s

New pathways to agricultural productivity in focus at SLES

With urgent agricultural reforms becoming increasingly imperative, the session on ‘Transforming Productivity in Agriculture’ at the Sri Lanka Economic Summit (SLES), organised by The Ceylon Chamber of Commerce, will examine strategies to boost agricultural productivity and the reforms necessary to support the key targets. Conducted under the theme ‘Shaping Sri Lanka’s Future: Transformational Growth Rooted in Sound Economic Policies’, the SLES wi

Embracing change: Charting a brighter future for Sri Lanka’s plantation industry

For 170 years, Sri Lanka’s plantation industry has stood the test of time. Despite the continuous upheavals, it has managed to adapt and endure. Over this period, the ownership structure of the industry underwent significant changes—from 124 years of British colonial ownership to the post-independence era (1948-1975, 27 years), where the growing nationalist sentiments led to changes in land ownership policies and then to nationalisation (1975-199

SYNERGEN Health drives global healthcare innovation through empowered employees

Founded in 2011 in Dallas, Texas, with its Global Operations Centre in Sri Lanka, SYNERGEN Health has today grown into a global leader in innovative healthcare solutions.

CB to anchor inflation at 5% for sustained growth

With normalcy and stability being somewhat restored after years of pain, the Central Bank’s focus going forward will be on stabilising inflation around the target of 5 percent, consistent with the FIT framework.

Central Bank to lower interest rates for MSMEs

The Central Bank yesterday announced plans to reduce the high interest rates on the credit facilities extended to the micro, small and medium-sized enterprises (MSMEs), in close collaboration with the financial institutions.

Stress tests for finance companies coming up this year

The Central Bank plans to introduce stress testing frameworks for the finance companies this year, along with identifying systemically important finance companies in the near future, to strengthen the financial sector resilience and oversight.

Confectionery industry questions feasibility of new nutritional labelling rules ahead of July deadline

The confectionary industry recently sought clarification from the government on how the businesses, particularly the small and medium-scale confectionary enterprises (SMEs), are expected to realistically comply with the new nutritional labelling requirements set to take effect from July 1, 2025.

Prof. Ajantha Samarakoon appointed as new People’s Leasing & Finance Chairman

People’s Leasing & Finance PLC, a leader in non-banking financial services, has announced the appointment of Prof. Ajantha Samarakoon as its new Chairman of the board, with effect from December 31, 2024, subsequent to receiving approval from the Central Bank of Sri Lanka.

Cartoon of the Day 09-01-2025

Indices recover after 3 consecutive sessions

Indices closed in green as a result of price gains in counters such as Sampath Bank, Melstacorp and Hatton National Bank nonvoting with the turnover crossing Rs. 5.2 Bn.

T-bill auction yields tumble for 5th consecutive week

The Central Bank of Sri Lanka successfully conducted the second weekly T-bill auction for 2025, raising Rs.102.0 billion, with the total offered amount being fully accepted across all maturities.

Brandix discusses journey of transformation; looks at a digital future

One of Sri Lanka’s leading proponents of technology solutions in manufacturing, Brandix, took stock of its transformative journey and discussed new innovative solutions to propel the business forward at the ‘Digital Horizon 2024’, the second edition of Brandix’s own digital keynote session held at Trace Expert City in Colombo.