Trade deficit widens in November to US $ 502mn as import expenditure climbs

Sri Lanka’s trade deficit widened to US $ 502 million in November 2024, compared to US $ 390 million recorded in November 2023, due to an increase in import expenditure and a marginal decline in export earnings.

Colombo prices show signs of pressure on consumer pocketbooks in December

The consumer prices in Sri Lanka’s Colombo district rose 1.2 percent in December from the previous month, reversing a 0.3 percent decline in November and breaking a months-long trend of falling prices that began in July.

CDS launches 011 2356 444 as a dedicated hotline

The Central Depository Systems (CDS), a subsidiary of the Colombo Stock Exchange, has launched a dedicated hotline, effective from the first week of January 2025, to provide the stakeholders, including the investors and corporate clients with direct access to the CDS for improved query resolution and support. The hotline, which will operate from 8:30 a.m. to 5:00 p.m., Monday to Friday, aims to enhance efficiency by enabling quicker query resolut

Gross official reserves stand at US $ 6.5bn in November

Sri Lanka’s gross official reserves (GOR) rose to US $ 6.5 billion by end-November 2024, up from US $ 4.4 billion at the close of 2023, the Central Bank said, reflecting continued recovery in foreign exchange holdings.

CBSL successfully holds 1st T-bill auction for 2025

The Central Bank of Sri Lanka (CBSL) started the new year by successfully conducting the first weekly T-bill auction for 2025, raising Rs.168.0 billion, with the total offered amount being fully accepted across all maturities.

BOC honoured as Bank of the Year Sri Lanka 2024

Bank of Ceylon (BOC), Sri Lanka’s premier financial institution, has been awarded the prestigious title of Bank of the Year Sri Lanka 2024 by The Banker magazine, a leading publication from the Financial Times Group in the United Kingdom.

Fitch rates SL’s new bonds ‘CCC+’

Fitch Ratings has assigned a ‘CCC+’ foreign-currency rating to Sri Lanka’s governance-linked bonds maturing in 2035 and a ‘CCC+’ local-currency rating to the US dollar step-up bonds maturing in 2038, which the government can decide to repay in rupees.

Construction sector sees activities expand at slower pace in November

Sri Lanka Purchasing Managers’ Index for Construction (PMI - Construction) expanded in November 2024, albeit at a slower pace, recording a total activity index value of 51.4.

Port City Colombo welcomes 2025 with a spectacular fireworks display

Port City Colombo welcomed the new year 2025 on December 31, 2024, with a vibrant and awe-inspiring fireworks display over the Marina Bridge.

ComBank crowned ‘Green Brand of the Year’ at SLIM Brand Excellence Awards

The Commercial Bank of Ceylon won the Gold as Sri Lanka’s ‘Green Brand of the Year’ at the 2024 Brand Excellence Awards of the Sri Lanka Institute of Marketing (SLIM) in a fitting recognition of the bank’s uncompromising commitment to sustainability.

Singer opens first Samsung AI-powered smart store

In a groundbreaking move to revolutionize the technological landscape of Sri Lanka, Singer Sri Lanka unveiled the country’s first AI-powered smart electronics in partnership with Samsung.

Property owner’s ejection claim dismissed by Court for non-compliance with new Lease Act

A case filed by a lessor (the property owner) seeking an order to eject a lessee (tenant) for wrongful occupation has been dismissed by the Kaduwela District Court as it did not comply with the new Lease Act introduced in 2023.

Chamil Wickremasinghe appointed SLIM CEO

The Sri Lanka Institute of Marketing (SLIM) announced the appointment of Chamil Wickremasinghe as its new Chief Executive Officer, effective 01st January 2025.

People’s Bank Aranayaka branch relocates

People’s Bank Aranayaka branch moved to a new location recently.

Classic Destinations appoints Chalaka Gajabahu as Head of Destinations

Classic Destinations, the inbound travel arm of Expolanka Holdings, announced the appointment of Chalaka Gajabahu as its new Head of Destinations.

DIMO wins two top awards at ‘Weichai Lovol Global Partners Conference’

As the authorized distributor for Lovol Harvesters in Sri Lanka, DIMO received two accolades at the 2025 Weichai Lovol Global Partners Conference, held at the Lovol Center in China recently.

Browns Hotels wins Gold accolade at Green Apple Environment Awards

Browns Hotels & Resorts (BHR) was recently awarded the International Gold Winner title in the Hospitality & Travel: Conservation & Wildlife category at the Green Apple Environment Awards 2024, held at Kensington Palace, London.

Centrum Marine Consultancy wins award for empowering women in maritime sector

Centrum Marine Consultancy (Pvt) Ltd has been awarded the ‘Empowering Diversified Maritime Education’ accolade at the 5th annual Maritime SheEO Conference.

Courtyard by Marriott Colombo awarded Best Four-Star City Hotel

The Courtyard by Marriott Colombo, owned by the Abans Group has been awarded ‘The Best Four-Star Hotel in the City’ at the Sri Lanka Tourism Awards 2024 held recently.

HNB Cards joins initiative to support hearing for children

HNB Plc has unveiled an innovative ‘Santa Brigade’ campaign in partnership with Visa, designed to create a transformative social impact during the holiday season.

Boost Hotels shines at National Tourism Awards

Boost Hotels Pvt Ltd, a Sri Lankan company with over a decade of expertise in delivering world-class hospitality solutions, has been named the Best Enterprise Management System for hospitality industry at the prestigious Sri Lanka Tourism Awards 2024.

Intrepid wins big at Sri Lanka Tourism Awards 2024

Intrepid Travel, the world’s largest adventure travel company, has been awarded at the Sri Lanka Tourism Awards 2024, with the Best Destination Loyal Partner, Under Travel & Tourism Operator category and being shortlisted as a finalist in Best Sustainable Practices in Specified Tourist Services.

Singhagiri launches Candy home appliances in Sri Lanka

Singhagiri Pvt Ltd launched its partnership with Candy, a European home appliance brand with Italian roots on 19 December at the Cinnamon Grand.

Business community welcomes New Year with positive sentiments

Sri Lanka’s private sector enters year 2025 with optimism as the island nation has somewhat managed to emerge from years of economic turbulence, supported by signs of recovery and a more stable environment.

Tourism Alliance calls for bold reforms as country surpasses 2 mn tourist arrival milestone

As Sri Lanka crossed two million milestone in tourist arrivals in 2024 for the second time in its history, the Sri Lanka Tourism Alliance cautioned the government and industry stakeholders against complacency, emphasising the need for urgent reforms and strategies to ensure sustainable growth in the tourism sector.

Sri Lanka welcomes over 233,000 tourists in 29 days of December 

Sri Lanka welcomed 233,087 tourists as of 29 December, bringing the cumulative tourist arrivals for the year to 2.04 million.

Emirates to launch additional Colombo-Dubai flight from tomorrow 

Emirates, the world’s largest international airline, is set to operate an additional scheduled service between Colombo and Dubai, starting from 2 January 2025.

CBSL to address inflation target shortfall in parliament 

The Central Bank of Sri Lanka is expected to table a report in parliament, addressing the significant deviation of headline inflation from the target outlined in the budget policy framework, the government said yesterday. Cabinet approval was granted this week for the proposal presented by President Anura Kumara Dissanayake in his capacity as Minister of Finance, Planning, and Economic Development, to submit the report to parliament. The move

New ban on promoting food for children unfair for local manufacturers: confectionery industry

The confectionery industry expressed skepticism over the new ban prohibiting the promotion of food products to children under 12, which they claim creates an unfair playing field as the rules only affect food manufacturers while exempting many other industries that directly impact children’s health.

Matheesha to bowl for ComBank

Young cricket star Matheesha Pathirana has been appointed Brand Ambassador for Commercial Bank. Matheesha will specifically represent the ComBank Debit Card brand, the biggest debit card base in the country, reflecting the speed and agility of the brand, qualitiesthat heis famous for.