US trade deficit widens to two-year high on imports

REUTERS: The U.S. trade deficit widened to the highest level in more than two years in July as businesses likely front-loaded imports in anticipation of higher tariffs on goods, suggesting trade could remain a drag on economic growth in the third quarter.

ASPI gains after 12 consecutive days of losses

Indices closed in green as a result of price gains in counters such as Commercial Bank, Sampath Bank and Melstacorp with the turnover crossing Rs. 1.4 Bn.

T-bill yields further inflate

The secondary market experienced a mixed sentiment during the day on the back of heavy trades with active investor participation. Most of the maturities across the yield curve enticed trades during the day.

HNB crowned Best Bank in Sri Lanka at ICC Emerging Asia Banking Conclave

HNB PLC was honoured with the “Best Bank - Sri Lanka” title and was also recognized as the Runner – Up for Best Performance on Profitability – Sri Lanka at the 2nd Emerging Asia Banking Conclave & Awards, organized by the Indian Chamber of Commerce (ICC).

John Keells Logistics partners Brillion Consumer Products for Baygon’s relaunch

John Keells Logistics (Pvt) Ltd (JKLL) announced its collaboration with Brillion Consumer Products Lanka (Pvt) Ltd which is relaunching the pesticide brand “Baygon” in Sri Lanka.

Pan Asia Bank and LOLC Insurance celebrate top performers

Pan Asia Bank and LOLC Insurance recently organised a distinguished Bancassurance Recognition Event to honour the outstanding performance of its bancassurance division. The purpose of this event was to appreciate the efforts of the team in creating awareness of new insurance products and solutions across Pan Asia Bank’s extensive network to enhance the bancassurance channel.

Dr. Chamara Bandara joins Kapruka as Independent Director

Kapruka Holdings PLC announced the appointment of Dr. Chamara Bandara to its Board of Directors as an Independent Director.

Premier Plastics & Rubber Exhibition promotes best practices, innovation

SMART Expos & Fairs India Pvt Ltd, in collaboration with the Plastics and Rubber Institute of Sri Lanka (PRISL), conducted the COMPLAST & RUBBER EXPO 2024 at the Bandaranaike International Memorial Hall in Colombo.

Sri Lanka becoming a regional hub for technological innovation: JIT Group

Just In Time Group Chief Executive Officer Neranjan Dissanayake in the following interview speaks about his vision for the IT sector,

Cargills hosts third ‘Lak Bojun’ SME Training

On August 27, Cargills in collaboration with the Ministry of Agriculture’s ‘Hela Bojun’ programme, hosted the third annual SME training programme under the ‘Cargills Lak Bojun’ initiative at the Cargills Head Office.

DFCC accepts ‘LankaSign’ digital signatures

In keeping with its forward-facing, tech-centric approach to improving customer experiences and providing the most accessible and efficient service, DFCC Bank continues to implement the acceptance of digital signatures across the network.

People’s Bank announces ‘Vaasi Kotiyai 2024’ winners

People’s Bank’s ‘People’s Remittance Vaasi Kotiyai 2024’ draw to select the monthly winners of Rs.250,000 for the months of May, June and July took place at the People’s Bank, overseas customer services premises at Colombo 10 recently.

TikTok organizes workshop to empower SMBs

TikTok recently concluded its workshop in Colombo, aimed at empowering Small and Medium Businesses (SMBs) in Sri Lanka.

People’s Leasing secures two awards at BestWeb.lk Awards

People’s Leasing and Finance PLC, a leader in Sri Lanka’s non-banking financial sector, has once again been recognised for excellence in digital innovation with two prestigious accolades at the 14th edition of the BestWeb.LK Awards, organised by the LK Domain Registry.

ICFS to host ’Education Yaalpanam’ for students seeking overseas opportunities

The International Centre for Foreign Studies (ICFS) will host the fourth session of ’Education Yaalpanam’ on September 7 at the Vavuniya Public Library and on September 8 at the Jaffna Public Library Auditorium.

BOI convenes roundtable with global health firm to discuss Indian FDI opportunities

The Board of Investment (BOI) recently convened a roundtable with Global Health Strategies (GHS), a leading consulting firm specializing in global health and development to explore foreign direct investment opportunities with Indian investors.

LTL Holdings announces largest IPO on CSE

Sri Lanka’s leading fully integrated power sector conglomerate, LTL Holdings Ltd announced the largest IPO to date on Colombo Stock Exchange (CSE), with plans to raise up to Rs.20 billion by offering 22.3 percent stake in the company.

SLSC demands action following driver’s death at Customs gate

The Sri Lanka Shippers’ Council (SLSC), together with 17 member associations, the Container Transport Owners Association, and the Association of Clearing & Forwarding Agents (ACFA), yesterday expressed deep concern over the tragic death of a container driver who was stranded in line at the Customs exit gate for three days.

Cabinet nod for tax convention with Austria

Cabinet nod was given this week for a new tax convention between Sri Lanka and Austria, aimed at preventing double taxation and mitigating tax evasion.

CCC urges political parties to avoid making false fiscal promises

With Sri Lanka’s atmosphere dominated by campaigns rhetoric and statements leading up to the pivotal presidential election this month, President of the Ceylon Chamber of Commerce Duminda Hulangamuwa urged political parties to refrain from making false promises about ensuring fiscal balance by enforcing better tax administration.

Fitch rates DFCC Bank’s debut green bond final ‘A-(lka)’

Fitch Ratings has assigned DFCC Bank PLC’s (A-(lka)/Stable) proposed Sri Lankan rupee-denominated senior unsecured listed green bonds of up to Rs. 2.5 billion a final National Long-Term Rating of ‘A-(lka)’.

Strategic framework for local fisheries industry gets Cabinet approval

The Cabinet this week approved a strategic framework aimed at revitalising Sri Lanka’s fisheries sector. The proposal, presented by the President and Minister of Fisheries, outlined a plan to position the industry as a key economic driver. The strategic report,

As part of the South-South collaboration initiatives

As part of the South-South collaboration initiatives, Connect to Care and Global Health Strategies in partnership with the BOI Sri Lanka hosted a discussion aimed at exploring opportunities between India and Sri Lanka. The event brought together private sector representatives from Sri Lanka and potential investors from India.

Turnover crosses Rs. 1 bn

The ASPI closed in red as a result of price losses in counters such as Ceylon Tobacco Company, Sampath Bank and Commercial Bank with the turnover crossing Rs. 1.1 bn.

Market holds its breath ahead of T-Bill auction

The secondary market witnessed a subdued trading session yesterday, with limited trading activity and volumes ahead of the Rs. 152.0bn T-Bill auction scheduled for today, as uncertainty surrounding the upcoming election weighed on market sentiment.

Aitken Spence Hotels takes over management of Rainforest Ecolodge

Aitken Spence Hotels announced the takeover of the management of Rainforest Ecolodge, the first classified ecolodge in the country.

Insurance awareness month kicks off with a focus on empowering Sri Lankans

In conjunction with the celebration of the Eighth National Insurance Day on September 1, the Insurance Association of Sri Lanka (IASL) announced the commencement of Insurance Awareness Month 2024, which will take place from September 01 to 30.

Amana Bank upgraded to BBB-(lka) Investment Grade; Stable Outlook: Fitch

In its latest rating review carried out in August 2024, Fitch Ratings Sri Lanka has upgraded Amana Bank’s National Long-Term Rating from BB+(lka) to an Investment-Grade Rating of BBB-(lka), with a Stable Outlook.

WEConnect-U.S. Embassy’s key events to advance gender inclusive supply chains

WEConnect International, with support from the U.S. Embassy, hosted a Supplier Development Masterclass and Supplier Diversity and Inclusion Roundtable in Colombo.

Browns Pharmaceuticals-DFCC Bank-MOD to empower entrepreneurs

In keeping with its vision of fostering the growth of Sri Lanka’s dairy sector, Browns Pharmaceuticals recently collaborated with DFCC Bank PLC and Market-Oriented Dairy (MOD) through its innovative ‘Kiri Wyawasabhiman’ loyalty programme.