SL targets US $ 36bn in annual exports by 2029

The government has set its sights on an ambitious annual export revenue target of US $ 36 billion to be achieved by 2029, according to the Export Development Board (EDB).

Former CB Governor confident of IMF review completion by February

Senior Economist and former Central Bank Governor Dr. Indrajit Coomaraswamy expressed optimism about the completion of the third review of the International Monetary Fund (IMF) bailout package by mid-February next year, as stipulated by President Anura Kumara Dissanayake.

CEB reports turnaround performance in 3Q despite tariff cuts

The Ceylon Electricity Board (CEB) reported a turnaround performance in the three months through September 2024, at both top and bottom-line levels, as the state-owned power behemoth turned to black, helped by the repeatedly raised tariffs in the last two years, despite the cuts to power tariffs earlier in the quarter.

Niloufer makes a stylish comeback with launch of NLFR

The Sri Lankan fashion industry is abuzz with excitement as Niloufer, former Founder and Managing Director of Cotton Collection, returns to the spotlight with the launch of her new brand, NLFR.

Cartoon 21.11.2024

October tea exports up 14% YoY

Sri Lanka’s tea exports reached 20.79 million kilogrammes in October 2024, a 14 percent increase from 18.21 million kilogrammes in the same month last year, with all product categories showing growth, the industry data showed.

Teejay Lanka expands operations to Egypt

Teejay Lanka PLC, Sri Lanka’s first multinational textile manufacturer, announced the expansion of its business into the Arab Republic of Egypt.

Indices close on a positive note

The ASPI edged up as a result of price gains in counters such as John Keells Holdings, Commercial Bank and Lion Brewery with the turnover crossing Rs. 2.7 Bn.

Auction yields dip further as bull rally continues

The secondary market yield curve continued to dip across the board, driven by the sustained bullish sentiment, while generating moderate volumes.

Asia Tea Alliance unites for sustainable tea future at 2024 Summit

The Asia Tea Alliance (ATA) meeting and Asia International Tea Summit 2024 brought together industry leaders, apex associations, and Tea Boards from Asia’s major tea-producing nations, convened by Solidaridad Asia and the Indian Tea Association to champion a sustainable and equitable tea industry.

Hemsons International unveils new brand identity

Hemsons International announced the launch of its newly refreshed brand identity.

Biz Chambers congratulate newly elected government

he Free Trade Zone Manufacturers Association (FTZMA) on behalf of its executive committee and all its members, extends warmest greetings and congratulations to the National People’s Power (NPP) for securing a landslide victory in the recent General Elections.

Top50 Women’s Global Awards celebrates Ayodhya Iddawela Perera’s leadership

Sampath Bank announced that its Managing Director, Ayodhya Iddawela Perera, has been awarded the Gold Award at the 14th Top50 Professional & Career Women Global Awards 2024, recognising her outstanding contributions to Sri Lanka’s finance and banking sector.

HNB and UNIMO forge strategic partnership to empower vehicle buyers

HNB PLC has renewed its partnership with UNIMO Enterprises, the subsidiary of United Motors, to offer ground-breaking leasing solutions tailored to Sri Lankan vehicle buyers.

Dialog Cyber Protect Cloud Redefines Cybersecurity with Unified Solution

In a significant leap forward in cybersecurity, Dialog Enterprise, the corporate ICT solutions arm of Dialog Axiata PLC, Sri Lanka’s #1 connectivity provider, introduces Dialog Cyber Protect Cloud—a groundbreaking platform that revolutionizes cloud-based data backup and cyber protection.

SriLankan premieres latest ‘Mathaka’ range at SLDF

SriLankan Airlines, the official Airline Partner of the Sri Lanka Design Festival (SLDF), premiered the latest range of products under its award-winning upcycle brand ‘Mathaka’, at the event held from November 06 to 11, 2024 at Cinnamon Life.

Mastercard supports CSSL’s NITC 2024

Mastercard has collaborated with the Computer Society of Sri Lanka (CSSL) as a strategic partner for the 42nd National Information Technology Conference (NITC) 2024.

Institute of Chemistry Ceylon holds 20th convocation

The 20th convocation of the Institute of Chemistry Ceylon was held recently at the Bandaranaike Memorial International Conference Hall, with the presence of Prof. Jayantha Lal Ratnasekara as the chief guest.

Sysco LABS holds Blueprint 2024 awards event

Sysco LABS’ flagship awards event – Blueprint 2024 took place recently at Shangri-La Colombo.

India’s HRV Global Life Sciences eyes for potential expansion into Sri Lanka

India-based HRV Global Life Sciences and New Horizon Global Pharma is eyeing for a potential expansion into Sri Lanka, positioning it as a key growth market in South Asia.

Niloufer Esufally-Anverally Makes a Stylish Comeback with the Launch of NLFR

The Sri Lankan fashion industry is abuzz with excitement as Niloufer former Founder and Managing Director of Cotton Collection, returns to the spotlight with the launch of her new brand, NLFR. Set to debut on Thursday, November 21, 2024, NLFR promises to be a celebration of life’s passions and the enduring vision of an entrepreneur who has never stayed away from the creative world for too long.

Strategic branding key to SL’s success in India’s wedding market: Vandana Mohan

Access to information and strategic branding are pivotal for Sri Lanka to emerge as a premier wedding destination for Indians, according to Vandana Mohan, India’s first female event manager and founder of the Wedding Design Company.

Manufacturing PMI gets seasonal pop while services see lift from higher lending  

Sri Lanka’s Purchasing Managers’ Index (PMI) for October saw continued expansion in the activities in both manufacturing and services sectors at an accelerated pace from September, as some took a wait-and-see approach due to the Presidential election that month.

SEC to grant more opportunities for undergraduate students

The Securities and Exchange Commission (SEC) signed revised Memoranda of Understanding (MoUs) with Eastern University of Sri Lanka (EUSL) and the South Eastern University of Sri Lanka (SEUSL) last week, reinforcing its commitment to supporting the educational and career aspirations of undergraduates.

Sri Lanka sees 10% increase in students studying in US colleges

The number of Sri Lankan students studying at U.S. colleges and universities has increased by 10 percent over the most recent academic period (2023-2024), according to a US report on international educational exchange programmes.

Fitch assigns NDB’s Basel III subordinated debt final ‘BBB(lka)’

Fitch Ratings has assigned National Development Bank PLC’s (NDB, A-(lka)/Stable) proposed Sri Lankan rupee-denominated Basel III-compliant subordinated debentures of Rs. 5 billion a final National Long-Term Rating of ‘BBB(lka)’.

ASPI loses after seven consecutive days of gains

Indices closed in red as a result of price losses in counters such as John Keells Holdings, Hatton National Bank and Sampath Bank with the turnover crossing Rs. 6.0 bn.

Profit chase unfolds pre T-bill auction

The secondary market yield curve yesterday experienced a slight upward shift from the previous day, influenced by marginal profit-taking activities ahead of the Rs. 145.0bn T-bill auction scheduled for today.

HNB Assurance Group records remarkable 22% growth in GWP

HNB Assurance PLC (HNBA) and HNB General Insurance Limited (HNBGI) continued to build on their impressive performance, recording strong financial growth and achieving impressive operational success during the third quarter of 2024.

Hotel Suppliers Association congratulates new Tourism Minister

The following statement was issued by the Hotel Suppliers Association, congratulating the new Tourism Minister Vijitha Herath.