Sri Lanka Insurance Life at Jaffna Nallur Festival - 2024

Sri Lanka Insurance Life carried out a special awareness programme during the Nallur festival in Jaffna.

Bondholders breakthrough before Presidential election

Sri Lanka managed to make a significant breakthrough just days before the presidential election as it reached an agreement inSri Lanka managed to make a significant breakthrough just days before the presidential election as it reached an agreement in principle with the bondholders principle with the bondholders.

August PMI points to continued expansion in manufacturing & services activities

The Purchasing Managers’ Index (PMI) for both manufacturing and services activities came in stronger in August signalling that the economy continues to do well, and the prospects remain positive for the future.

Tax analysis essential before salary increases: CMA Sri Lanka

Amid the prevalent fiscal promises made by various parties to uplift the economy, the Institute of Certified Management Accountants (CMA) Sri Lanka asserted that the next administration should make fiscal commitments, such as salary increases only after a thorough analysis of the country’s taxation framework.

Colombo Port sees fourth consecutive month of declining transshipment volumes

Transshipment volumes at the Port of Colombo continued their decline for the fourth consecutive month in August, despite a notable reduction in congestion at the port.

August tea production up 15.9% YoY

Sri Lanka’s Tea Production for the month of August 2024 expanded 15.9 percent Year-on-Year (YoY) to 21.28 MnKgs.

Indices continue to close in green

Indices closed in green as a result of price gains in counters such as Commercial Bank, Melstacorp and National Development Bank with the turnover crossing Rs. 1.2 bn.

Dull market persists post auction

The secondary market yield curve remained broadly unchanged amidst limited activities and low trading volumes across the market yesterday.

Centrum Marine and Döhle partner to boost Sri Lanka’s maritime industry

Centrum Marine Consultancy, the rising leader in marine HR solutions in Sri Lanka, has announced a strategic partnership with Döhle (IOM) Limited, a renowned global maritime services provider and part of the Döhle group. This collaboration has resulted in the formation of a joint venture, Döhle Marine Lanka (Pvt.) Ltd, with the goal of significantly increasing employment opportunities for Sri Lankan seafarers in the global maritime industry.

Pan Asia Bank opens new digital zones in Kurunagala and Dambulla

Pan Asia Bank, The Truly Sri Lankan Bank, continues its commitment to driving digital innovation and customer convenience by introducing two state-of-the-art digital zones in Kurunagala and Dambulla on the same day. These new facilities are designed to offer customers access to financial services such as ATMs and cash deposit machines seamlessly with better efficiency and security

Union Assurance recognises NTB’s top bancassurance performers

Union Assurance, Sri Lanka’s leading life insurer and the exclusive bancassurance partner of Nations Trust Bank PLC (NTB), organised special development programmes in recognition of the exceptional performance of the staff members of the bank’s bancassurance team and the branch network.

Markspen Holdings opens Smart Hub in Kurunegala

In an effort to bring superior quality products and services to consumers under one roof, the sole importer and distributor of the DOMA CTP20 automatic rice mill, Markspen Holdings (Private) Limited recently opened doors to its brand-new showroom in Kurunegala.

PMF Finance strengthens financial foundation with major backing from ComBank

PMF Finance PLC has fortified its financial position through a significant capital boost from Commercial Bank of Ceylon PLC, Sri Lanka’s largest private commercial bank, with an initial disbursement of Rs.500 million out of Rs.1 billion.

Chance Fashion Garment named as Emerging Brand of the Year at Iconic Awards 2024

Chance Fashion Garment, a rapidly growing name in the Sri Lankan fashion industry, was honoured with the Emerging Brand of the Year award at Iconic Awards 2024.

5D Concept unveils official website experience

The world-renowned 5D Concept unveiled its new website, guided by Deshan Amarasinghe, the visionary who introduced this innovative concept to the global stage.

Spora Lanka recognised at Entrepreneur Biz Awards 2024

Spora Lanka Private Limited, a prominent supplier of consumable items to hotels throughout Sri Lanka, has been awarded the Excellence Award in the Supplier of Consumer Items to Hotels category at Entrepreneur Biz Awards 2024.

SriLankan Airlines and SLCB showcase Sri Lanka to top South Indian journalists

SriLankan Airlines, together with its leisure arm SriLankan Holidays and the Sri Lanka Convention Bureau (SLCB), recently hosted a group of senior journalists from some of South India’s most prominent media outlets: Deccan Chronicle, Tourism India, Malayala Manorama, Sun Group TV, Mathrubhumi Newspaper, DT Next and Provoke Magazine.

E.B. Creasy Solar debuts Sungrow solar inverter

E.B. Creasy Solar, the renewable energy arm of E.B. Creasy & Co., PLC, has entered a strategic partnership with Sungrow, a global leader in the solar energy industry.

SimCentric Technologies enhances information security standards with ISO 27001:2022 certification

SimCentric Technologies, a leading provider of simulation software and solutions in the defence and security sectors, has achieved a significant milestone by upgrading to the ISO 27001:2022 certification.

Sri Lanka’s construction sector expands 15.5% in 2Q

The all-important constriction sector registered a robust growth of 15.5 percent in the second quarter, accelerating from the first three months, mirroring what the monthly indices repeatedly showed.

Tourist arrivals below expectation: SLTDA

The hit on Sri Lanka’s tourism sector is expected to only further aggravate, with a proper solution yet to be implemented.

Govt. should give RPCs control over land-use policies for estate diversification: PA

The Planters’ Association of Ceylon (PA) stressed that the government should entrust the Regional Plantation Companies (RPCs) with the land-use policies in allowing the individual estates to diversify, in the face of climate change.

19.09.2024 Cartoon

August tea exports contract 5.3% YoY

The tea exports for the month of August 2024 contracted 5.3 percent year-on-year (YoY), totalling 22.09 million kilogrammes. The provisional data released by Sri Lanka Customs showed that tea in bulk and packeted tea showed negative variances, whilst tea bags recorded a marginal gain in comparison with the corresponding month of the previous year.

Week commences in green

Indices closed in green as a result of price gains in counters such as Sampath Bank, Hatton National Bank and John Keells Holdings with the turnover crossing Rs. 931 Mn. High net worth and institutional investor participation was noted in Commercial Bank, Hayleys Fabric, and Access Engineering. Mixed interest was observed in Hatton National Bank, Sampath Bank and Hayleys whilst retail interest was noted in Co-operative Insurance Company, Browns I

T-bill auction yields cross 10.0% mark across board

At the T-bill auction held yesterday, the Central Bank offered Rs.175.0 billion but accepted bids totalling Rs.161.0 billion, representing 92 percent of the total offer. The Central Bank fully subscribed to the three-month and six-month T-bills, while the one-year T-bill was significantly undersubscribed, with only Rs.989.0 million accepted. Meanwhile, the weighted average yields continued their upward trend, with the three-month bill seeing a su

SL-UAE joint venture to accelerate advanced graphene manufacturing

Inovartic Investment Lanka Pvt Limited, a joint venture between Sri Lanka’s Apex Asia Holdings and UAE’s Inovartic Investment LLC, has embarked on an initiative to accelerate the advanced manufacturing of graphene and graphene-based products in Sri Lanka and Abu Dhabi.

Ministry of Crab partners with UNDP Sri Lanka to advance mangrove conservation

Ministry of Crab restaurant partnered with the United Nations Development Programme (UNDP) in Sri Lanka through the Global Environment Facility funded Small Grants Programme (SGP) in the Mannar Landscape, in the form of an 18-month project that will empower communities in the area, with a strong focus on mangrove restoration.

SriLankan Airlines launches new pre-order meal service

SriLankan Airlines has introduced ‘Serendib Delights’, a new pre-order meal service exclusively for Economy Class passengers. This service enhancement allows travellers to select from a carefully curated menu before their journey, offering an elevated onboard dining experience.

EDB and KPMG Sri Lanka collaborate to create awareness on new EU regulations for ESG factors

Export Development Board (EDB) and KPMG Sri Lanka jointly organized a knowledge-sharing session on the new European Union (EU) regulations concerning Environmental, Social, and Governance (ESG) factors on 11th September.