BBC: Banking giant HSBC is selling off its business in Argentina at a US $ 1 billion (£790 million) loss after years of battling with the country’s unstable exchange rate. HSBC Argentina, which has more than 100 branches and 3,100 employees, will

The world’s first Cinnamon Museum was unveiled this week in Mirissa Hills, a cinnamon estate near Weligama. The opening event was graced by Tourism Minister Harin Fernando....

Sri Lanka Insurance concludes year 2023 with a profit before tax of Rs. 10.6 billion, reflecting an improvement in combined Gross Written Premium (GWP) of Rs. 44.2 billion, a growth of 7.2.....

Sri Lanka’s middle class consumers are willing to shift from established brands to cheaper, lesser-known alternatives, or even try unbranded loose products at a time of shrinking....

Amana Bank has announced the appointment of Delvin Pereira to its director board as a Non-Executive Independent Director with effect from 28 March 2024. With experience....

Four companies this week received government approval to be recognised as Secondary Businesses of Strategic Importance. Cabinet nod was given....

The Ceylon Chamber of Commerce hosted the International Symposium on the Role of Science in Food Reformulations recently. The symposium brought together....

The halted condominium project, the Campbell Avenue project, is to be resurrected by Westbury Suites, spearheaded by Project Director Muhez Muzammil. The project....

Huawei Sri Lanka announced that a team from the University of Moratuwa has successfully advanced to the Huawei ICT Competition 2023–2024 Global Finals and Regional Award Ceremony....

HNB General Insurance announced the appointment of Dayalanie Abeygunawardena to its director board. Abeygunawardena brings with her....

Dr. Anil Munasinghe, former Deputy Chief Executive Officer of Kelani Cables PLC, has been appointed as Chief Executive Officer of the company, with effect from April 1, 2024. He started....

Embarking on a bold journey toward sustainable energy solutions, People’s Leasing & Finance PLC (PLC) and Hayleys Solar, the renewable energy arm of Hayleys Fentons Limited, have officially....

Designed to empower customers with high-return short-term savings plans, DFCC Savings Goal promises a personalised savings experience coupled with flexibility and attractive....

Fitch Ratings affirmed Sri Lanka-based Construction Guarantee Fund’s (CGF) National Insurer Financial Strength (IFS) Rating of ‘BB(lka)’. The Outlook is Stable. The rating....

Inequality results in adverse economic, social and political consequences. Unlike the advanced economies, improvements in education, fertility and incomes have not been able to enhance....

Genie Business, the ultimate all-in-one fintech platform for Sri Lankan businesses, was launched by Dialog Finance PLC to revolutionize the landscape for Micro, Small, and Medium Enterprises...

Cargills Bank released its annual report for 2023, reporting a robust growth in profit before tax (PBT), driven by a 30 percent increase in total assets during the year. The bank posted a PBT of Rs.730 million for the year vs. Rs.206 million in

The Central Bank said they expect the government securities yields to ease further from their current levels in line with the recent policy rate cut despite some uptick seen recently. Commenting on the bill and bond yields, which saw some bottoming

In an effort to bolster growth and combat climate change, the International Finance Corporation (IFC) and Citizens Development Business Finance PLC (CDB) announced a new partnership to enhance the latter’s green portfolio, fostering sustainabl

While Sri Lanka is witnessing improvements in its economic landscape, the World Bank asserted that the persistent vulnerabilities in the banking sector require close monitoring. Even as the credit conditions improved, the non-performing loans

This feature is based on a thought-provoking panel discussion hosted by Capital Alliance Limited which delved into the current trends in consumer spending and the post-crisis outlook for the consumer sector in Sri Lanka. The panelists comprised este

Eco Technologies unveiled recently a revolutionary solution using electronic methods to combat caking and scaling in factories for hot boiler and chillers, eliminating the need for chemicals and providing a long-term fix. Dr. Lalindra Malindra Munna

Brown & Company’s Digital Transformation Solutions Strategic Business Unit recently signed a Memorandum of Understanding (MoU) with the University of Sri Jayawardenepura. The agreement was initiated to enable industrial digitalisation through In

Dhammika Fernando was re-elected as the Chairman of the Free Trade Zone Manufacturers Association (FTZMA) at the 43rd Annual General Meeting. Managing Director – Flintec Transducers Pvt Ltd, Tyronne Weckasinghe was elected as the Secretary of the A

The Securities and Exchange Commission of Sri Lanka (SEC) in collaboration with the Colombo Stock Exchange (CSE) hosted several impactful teacher training programmes for teachers of the established 100 Capital Market Clubs across the country. These

HNB PLC announced the appointment of Damith Pallewatte as Acting CEO, effective from 6th April, subject to approval of his fit & propriety from Central Bank of Sri Lanka. The appointment comes as part of a planned leadership transition first announc

LOLC Holdings PLC announced clinching the ‘People’s Financial Services Brand of the Year’ at the SLIM-Kantar People’s Awards 2024. This achievement marks the seventh consecutive year that LOLC has been recognized as the top choice in the nati

The 11th annual CFA Society Sri Lanka Capital Market Awards will be held on June 18 June, with a key highlight being the Best ESG Reporting Award conferred for the first time in the history of the event. ESG reporting refers to the process of disclo

A delegation from the Singapore Food Agency (SFA), headed by Dr. Abdul Jalil Abdul Karder, Assistant Chief Executive Officer (Operations), along with two other officers from the Joint Operation Division of the SFA visited Sri Lanka from March 25-28.

Gross official reserve assets of Central Bank reached the highest levels in more than three years in March as authorities managed...