Renewable energy company Windforce PLC said yesterday it has entered into an agreement to construct an off-grid solar power project on Bawe Island, part of Zanzibar, Tanzania. The engineering, design, procurement, installation, testing and commissio

US Development Finance Corporation has committed US$ 30 million financing to Sri Lanka’s Citizens Development Business Finance PLC (CDB). CDB said the DFC financing will be utilised to support women entrepreneurs, sustainable financing and micro, s

Hemas PLC reported modest earnings growth for the second quarter ending in September 2023 (2Q24) in light of the sluggish consumer demand in the economy. The FMCG juggernaut with interests in healthcare and transportation, reported earnings of Rs.2.0

Reuters: President Ranil Wickremesinghe will seek to boost tax revenue and rationalise spending in the government’s second full-year budget on Monday, targeting a return to growth for the crisis-hit economy while keeping an eye on elections.

In a small roadside hut in Nattandiya, Asoka Malini, a returnee migrant worker, spends her days with a handful of vegetables. She worked for six years in Saudi Arabia as a housemaid and a care worker, earning a monthly salary of Rs.20,000. As a m

The fourth session of Sri Lanka Economic Summit 2023, conducted by the Ceylon Chamber of Commerce on November 28 and 29, will explore the most effective means to achieving consensus to sustain reforms and growth. Session 4 will delve i

As shopping begins to occupy thoughts with the year drawing to a close, the Commercial Bank of Ceylon has unveiled a series of exciting discount opportunities in November and December in partnership with Daraz, South Asia’s largest ecommerce platfo

In a remarkable event at this week’s tea auction on November 7 and 8, 2023, Avissawella Tea Factory, trading its produce under the

Sri Lanka is looking to revitalise its high-quality coffee and cocoa production alongside measures to boost the country’s spice indus

99x continues to expand its global presence with two new acquisitions in Portugal and Brazil. The acquisitions of Cleverti - Portugal and LeanOn Systems - Brazil were formally concluded by 99X Investment AS, Norway in Octobe

‘Invest Sri Lanka – Retire Sri Lanka’– an event focused on attracting investment to Sri Lanka was held in Singapore recently. The even

Fitch Ratings has downgraded Sri Lanka-based Hela Apparel Holdings PLC’s National Long-Term Rating to ‘BB+(lka)’, from ‘AA-(lka)’. The Outlook is Negative. The downgrade fol

REUTERS: Sri Lanka and Argentina remain very vulnerable amid a worsening in global financial conditions while China has suffered a sharp deterioration in financial resilience since pre-COVID times, a think-tank study found yesterday. The resilience i

Sri Lankan school-going children will get a fresh taste of entrepreneurship in November, with the International Labour Organisation (ILO) set to launch Schoolpreneur 2023 across the island nation. The event aims at instilling entrepreneurial skills

The Sri Lanka Convention Bureau (SLCB) is actively working to establish the country’s Northern province as a promising destination for meetings, incentives, conferences and exhibitions (MICE) for South India. To this end, the SLCB is organising Jaf

REUTERS: U.S. Secretary of State Antony Blinken and Defence Secretary Lloyd Austin will hold talks with India this week that officials say will focus on security challenges in the Indo-Pacific and concerns over China, rather than the wars in Gaza and

Talawakelle Tea Estates (TTE PLC), a Hayleys Plantations company, has earned prestigious recognition as the sole representative from Sri Lanka to be featured in United Nations Global Compact-Accenture Global Private Sector SDG Stocktake Report 2023.

The Sri Lankan apparel industry leaders have recently emphasised the importance of gaining improved access to the Indian market, to boost the local apparel sector exports, particularly in light of the sluggish demand from key markets. The senior repr

The Global Student Entrepreneur Awards (GSEA), the prestigious international competition for student entrepreneurs, is back in Sri Lanka, providing young business leaders with a platform to showcase their innovative ventures. In Sri Lanka, the GS

Sri Lanka hosted the inaugural ‘International Climate Change Forum’ (ICCF) on November 2nd and 3rd in Colombo. The ICCF served as a global congregation of experts, policymakers, scientists, and practitioners, brought together to collectively tack

Consolidating its efforts to revive the economy at the grassroots, Sri Lanka’s leading private sector bank, HNB PLC, allocated Rs.10 million as a grant fund for 100 microfinance entrepreneurs under its flagship ‘Oba Venuwen Api’ initiative to r

Ceylinco Life has invested in the acquisition and renovation of a building in Matugama, to provide this scenic locality in the Kalutara District with an eco-friendly branch that complies with the specifications of the life insurance leader’s flagsh

People’s Bank recently paid tribute to its dedicated staff members who have completed 25 years of service during the grand ‘25 Years of Service award ceremony’, held recently at the Bandaranaike Memorial International Conference Hall (BMICH), C

Assetline Finance Limited (AFL), the flagship company of the Financial Services Cluster of David Pieris Group received its initial rating of ‘A-‘ with a stable outlook from the Lanka Rating Agency (LRA) reflecting its medium size and solid standi

‘ComBank Digital’ – Commercial Bank’s omni-channel digital banking platform has been adjudged the ‘Best Mobile Banking App’ in Sri Lanka by Global Finance at the 2023 edition of the magazine’s World’s Best Digital Bank Awards presenta

John Keells Holdings PLC (JKH) said yesterday they entered into a Memorandum of Understanding (MOU) with a leading international gaming operator in connection to the Cinnamon....

India’s Taj Group has proposed to convert the colonial-era Nuwara Eliya post office to a hotel, Cabinet Spokesman Minister Bandula Gunawardana said.

The Cabinet of Ministers this week gave its approval to proceed with the initiation of Sri Lanka Economic Commission, which will merge the functions of the Board of Investment (BOI) and Export....

Super luxury passenger vessel M.V. Aida Bella, operated by Aida Cruises, Germany with 1,900 passengers and 730 crew on board will call at the Port of Colombo tomorrow (November). The vessel....

The BOI Industry Advisory Council (IAC ) recently met to deliberate on the opportunities and challenges facing sectors such as ICT, apparel, spices & concentrates, nautical tourism, aquaculture....