Jonathan Alles Joins United Motors Lanka PLC Board as Independent Non-Executive Director

United Motors Lanka PLC is proud to announce the appointment of Mr. Jonathan Alles as an Independent Non-Executive Director. Mr. Alles brings with him a distinguished career in banking, having served as the Managing Director/Chief Executive Officer of Hatton National Bank PLC, one of Sri Lanka’s largest private sector banks. With over 37 years of banking experience, Mr. Alles has worked with several prominent international banks,

Discover Exclusive Dining and Wellness Privileges for Dialog Club Vision Members at Cinnamon Hotels

Dialog Axiata PLC, Sri Lanka’s #1 connectivity provider, has announced an exclusive collaboration between its premier loyalty programme, Dialog Club Vision, and Cinnamon Hotels, designed to offer members exceptional dining experiences as well as fitness and wellness retreats.

Behind the scenes of a leading tea factory – Sunshine Tea

Rooted in the lush landscapes and green hills of Sri Lanka, the Ceylon Tea brand stands as a legacy that solidifies the island’s global reputation as one of the world’s finest tea producers.

August tourist arrivals fall furthest away from forecast

The tourist arrivals in August fell furthest away from the target seen so far during the year, according to the provisional data released by the Sri Lanka Tourism Development Authority.

Coconut supply shortfall threatens SL’s domestic and export markets: CCCI

The newly inaugurated Ceylon Chamber of Coconut Industries (CCCI) has warned that the current coconut supply is insufficient to meet both the local and growing export demands, due to the significant challenges faced by the sector.

Plans to establish separate online coconut auction to break monopoly mafia

The newly inaugurated Ceylon Chamber of Coconut Industries (CCCI) said it is planning to establish a separate online coconut auction, in a bid to break the monopoly mafia held by the current coconut auction operated by the Coconut Development Authority.

Incoming president must surpass industrial revolutions to secure prosperity: Former CB deputy governor

To fulfil Sri Lanka’s long-standing ambition of becoming a wealthy nation within a single generation (defined as 25-30 years), the incoming president should propel the nation forward by surpassing several industrial revolutions to achieve prosperity, according to a former Central Bank (CB) deputy governor.

Hemas appoints Thusitha Perera as Independent Non-Executive Director

Hemas Holdings PLC announced the appointment of Thusitha Perera as an Independent Non-Executive Director, effective September 1, 2024.

BOI signs agreement for US $ 9.3mn hotel project in Ella

The town of Ella in Sri Lanka is set to witness a new development in tourism infrastructure, as the Board of Investment (BOI) has signed an agreement with the local company Nature First Resort & Spa Limited to build a new hotel in the tourist region.

September begins in red

Indices closed in red as a result of price losses in counters such as Commercial Bank, LOLC Holdings and Hatton National Bank with the turnover crossing Rs. 615 Mn.

Heightened uncertainty sparks selling pressure

The secondary market yield curve saw a slight uptick on the belly of the curve as selling pressure emerged on the mid tenures.

CWIT’s first batch of automated CRMG cranes arrive at Colombo Port

Colombo West International Terminal (CWIT) in the Port of Colombo has marked a significant milestone with the arrival of the first batch of 5 automated CRMG cranes.

CFA Societies of Sri Lanka and Hong Kong to explore global market uncertainty

CFA Society Sri Lanka and CFA Society Hong Kong announced an upcoming webinar titled ‘Navigating Global Uncertainty: A US-Sri Lanka Perspective.’

A1 Real Estate consolidates growth initiatives

A1 Real Estate is consolidating its growth initiatives as it continues to expand its influence in the Sri Lankan real estate market.

Medcube releases latest AI-driven medical billing software

Medcube USA LLC announced the release of Version 1.0 of CLAUDMD, their latest Medical Billing Software, which integrates Patient Management (PM) and Electronic Health Records (EHR). The launch took place recently at MedCube’s Colombo office.

Sri Lanka – Pakistan Business Council holds AGM

The 32nd Annual General Meeting of the Sri Lanka – Pakistan Business Council (SLPBC) was recently held, graced by Major General (R) Faheem Ul Aziz, HI (M)High Commissioner of Pakistan in Sri Lanka, Admiral Ravindra C Wijegunaratne, High Commissioner of Sri Lanka in Pakistan at Cinnamon Grand, Colombo.

Singhagiri & Samsung convention concludes on high note

The ‘Beyond Limits’ convention organized by Singhagiri & Samsung was held recently at Hotel Blue Water Hotel in Wadduwa.

Singapore FinTech Festival 2024 in November    

Singapore FinTech Festival (SFF) 2024 will be back for its 9th edition from 6 to 8 November, preceded by the Insights Forum from 4 to 5 November.

CEB embraces green energy solutions with Regen Renewables

Sri Lanka’s largest utility service provider, Ceylon Electricity Board (CEB), is taking significant strides towards sustainability by adopting green energy solutions.

Green Bees to revolutionize organic fertilizer industry with innovative and sustainable vermicompost

With the aim of contributing to Sri Lanka’s organic agriculture industry, Green Bees, a startup founded by a Sri Lankan duo Aruna Dilshan Rajakaruna and Nadeesha Chathurani, has taken measures to produce high-quality,

Mega Lifesciences introduces ‘WeCare Mother and child’app

As a company, Mega Lifesciences is present in 33 countries across the world, with products that play a vital role in categories ranging from women’s health including pregnancy and lactation, bone and joint health, cardiovascular and diabetes to skin and liver health.

Sanasa General Insurance and RDB forge strategic partnership

Sanasa General Insurance recently entered into a significant partnership with the Regional Development Bank (RDB) by signing a Memorandum of Understanding (MoU).

NDB Bank celebrates a decade of service excellence at KCC Branch

On August 22, NDB Bank marked a significant milestone—the 10th anniversary of its Kandy City Centre (KCC) Branch.

ICC Oceanfront Service Apartments become sought-after address in Colombo’s luxury real estate market

Since its launch on August 15, 2024, Oceanfront Service Apartments at Marine Drive has quickly become one of the most sought-after addresses in Colombo’s luxury real estate market.

Regency Education Chairman honoured at National Entrepreneur Excellence Awards

Regency Higher Education Centre and Boarding School (Pvt.) Ltd Chairman Sujeewa Sampath Lekamge was awarded the “Asian National Entrepreneur Excellence Award” at the National Entrepreneur Excellence Presidential Awards 2024,

TikTok shares election integrity measures ahead of presidential election

TikTok today shared its approach to upholding and protecting election integrity on its platform ahead of the Sri Lankan Presidential Election on 21st September 2024. The initiative underscores TikTok’s commitment to being a responsible and reliable source of information, especially during critical civic events.

July trade deficit up over higher imports, but exports remain robust

Merchandise trade deficit, what Sri Lanka spent for its imports over its exports, expanded in July and so was for the cumulative seven months as imports gained pace with the economy normalising.

Construction sector adds further steam in its expansion as PMI reaches 62.9 index points

The construction sector continued to make strides, further accelerating its speed as the projects, both which had to be halted and new, are becoming increasingly available, especially with the availability of the funding from the multilateral agencies.

Colombo district land prices increase 6.9% YoY

The Land Valuation Indicator (LVI) for Colombo District rose 6.9 percent year-on-year in the first half of 2024, driven by increases across all sub-indicators — Residential, Commercial, and Industrial.

SEC acquires world class market surveillance system from Nasdaq

Capital market regulator, the Securities and Exchange Commission of Sri Lanka (SEC) has taken a significant step towards strengthening its market surveillance role by acquiring a world class state-of-the-art market surveillance system from Nasdaq, a leading global technology company.