NOTICE

Shortened trading hours on CSE todayTrading on the Colombo Stock Exchange (CSE) will be from 9:30 a.m. to 12:30 p.m. today, November 14, 2024, in view of the Parliamentary elections.

ASPI crosses 13,000 mark

Indices closed in green as a result of price gains in counters such as Sampath Bank, Hatton National Bank and LOLC Holdings with the turnover crossing Rs. 6.9 Bn.

Yields decline as buying interest emerges

The secondary market yield curve witnessed significant buying interest across the board, particularly during the morning session of trading.

LOLC Finance reports Rs.8.1bn PAT in 1H24

LOLC Finance PLC marked a strong first half of profitability and growth for the six months ended September 30, 2024.

SITREK’s Digital Evolution Seminar to kick off on Nov. 27

SITREK Group, as a leader in innovation and modernisation, plays host to the Digital Evolution Seminar on November 27 and 28, 2024, at The Studio, Cinnamon Life.

USJ FMSC Finance Department launches Master of Applied Finance programme

The Department of Finance of the Faculty of Management Studies and Commerce (FMSC), University of Sri Jayewardenepura (USJ), launched its new postgraduate programme, the Master of Applied Finance, on November 2, 2024, at the Securities and Exchange Commission (SEC) auditorium.

Transco Travels unveils brand-new office in Sri Lanka

Transco Travels, an innovative destination management company in Sri Lanka and a subsidiary of Transco Holdings, recently unveiled its new, state-of-the-art office premises, centrally located at 41 Janadhipathi Mawatha, Colombo 1.

Hayleys Solar wins Dragons of Asia Award

Hayleys Solar, the renewable energy arm of Hayleys Fentons Limited, announced its Silver award win at Dragons of Sri Lanka, part of the esteemed Dragons of Asia 2024, for its flagship campaign ‘Live a Life Full of Light’.

DIMO drives agri mechanisation through ‘Mahata Wahina Wasi Wassa’ initiative

DIMO launched the ‘Mahata Wahina Wasi Wassa’ initiative to empower farmers by offering free laptops, tabs, electric bicycles and overseas travel opportunities with each Mahindra tractor purchase.

OrphanCare welcomes Kasturi as Trustee

Renowned business personality Kasturi Chellaraja Wilson recently joined the Board of Trustees of OrphanCare, which is an initiative introduced to avoid a second abandonment for orphan children as they transit from their childcare homes to adulthood.

CSE renews Platinum partnership with CFA Society Sri Lanka

The Colombo Stock Exchange (CSE) has renewed its partnership as the Platinum Partner of CFA Society Sri Lanka for the eighth consecutive year, reinforcing a shared commitment to promoting ethical standards, education and professional excellence within the Sri Lankan investment industry.

Is a robust visa platform in Sri Lanka a critical need for tourism sector?

Sri Lanka’s tourism sector is facing growing challenges as some foreigners appear to be taking advantage of the country’s relaxed visa policies.

BOI to facilitate risk mitigation to SAARC members through dedicated industrial parks

With an aim to boost FDI flows into the country while fostering inter-regional trade among SAARC nations, Sri Lanka’s Board of Investment (BOI) is exploring the creation of country-specific industrial parks tailored to the needs of SAARC nations.

Government to compile detailed SME loan report to plan relief measures

The government has planned to compile a detailed report on loans taken by Small and Medium-sized Enterprises (SMEs) across the country to help create relief measures for the businesses struggling with debt.

CEB default risks major service disruptions, says Fitch Ratings

A default by Ceylon Electricity Board (CEB) would lead to severe service disruption, with the entity accounting for about 73 percent of generation capacity at end-2023, rating agency Fitch said.

BOI restructuring under ETA faces delays: Lawyer

The scheduled restructuring of Sri Lanka’s Board of Investment (BOI) into three new entities under the Economic Transformation Act (ETA) is facing delays and may even be shelved by the incoming government, according to top lawyer.

Crossings boost turnover to Rs. 4.3 bn

The ASPI closed in green as a result of price gains in counters such as John Keells Holdings, Richard Pieris & Company and C T Holdings with the turnover crossing Rs. 4.2 bn.

Strong buying interest unfolds post T-Bond auction

Yesterday’s T-Bond auction raised Rs. 132.5bn, yielding full acceptance across both maturities offered. The 01.05.2028 bond closed at a weighted average yield rate of 11.63%, whilst the 01.10.2032 bond closed at a yield rate of 12.32%. Meanwhile, CBSL aims to raise Rs. 147.5bn in today’s weekly T-Bill auction.

Fonterra to proceed with sale process for consumer businesses

Fonterra Co-operative Group Ltd yesterday provided an update on its work to explore potential divestment options for its global consumer business as well as integrated businesses Fonterra Oceania and Fonterra Sri Lanka. CEO Miles Hurrell said, following a detailed scoping phase, the Co-op has decided to proceed with a sale process for these businesses. “Since our announcement in May 2024, we have been working with our team of advisors to assess p

Prime Lands recognised at World Business Outlook Awards 2024

Prime Lands (Pvt.) Ltd has made a resounding mark on the global stage at World Business Outlook Awards 2024 in Thailand.

Amana Takaful hosts Executive Edge forum for financial industry leaders

Amana Takaful Insurance launched its inaugural Executive Edge forum at Shangri-La Colombo, bringing together industry leaders from the financial services sector and key life insurance clientele.

Seylan Bank enhances mobile banking app with Sinhala and Tamil language options

Seylan Bank recently upgraded its mobile banking app to include Sinhala and Tamil language options, further enhancing customer ease and satisfaction.

CA Sri Lanka hosts SAFA Best Presented Annual Report Awards 2023

The South Asian Federation of Accountants (SAFA) celebrated the region’s finest achievements in financial reporting at the 2023 Best Presented Annual Report Awards hosted by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) in Colombo on November 11, 2024.

Janashakthi Life relaunches Medawachchiya branch

Janashakthi Life celebrated the grand opening of its newly relocated Medawachchiya branch, enhancing service accessibility for the customers.

Chevron Lanka collaborates with Uber SL

Chevron Lubricants Lanka PLC (Chevron Lanka), the company that markets and distributes Caltex-branded lubricants, announced its collaboration with Uber in Sri Lanka.

Union Bank hosts Exporters’ Forum to support customers in global trade

Union Bank recently organised an Exporters’ Forum for its valued customers across Zone 2, including participants from branches in Kandy, Kurunegala, Anuradhapura, Dambulla, Narammala, Gampola, Kegalle and Nawalapitiya. The forum provided a platform for insightful discussions on critical topics such as international trade, finance, foreign exchange and exchange risk management.

ICT sector explores unlocking value and funding opportunities through capital market

The Colombo Stock Exchange (CSE) and U.S. Agency for International Development (USAID) together with SLASSCOM and FITIS, recently hosted a forum titled ‘Unlocking Value via Capital Markets and Funding Options for the IT Sector’.

AIA Insurance creates a first of its kind immersive real-life gaming experience at Havelock City Mall

AIA Insurance took Children’s Day celebrations to new heights with a first of its kind immersive life-sized ‘Snakes and Ladders’ game at Havelock City Mall, engaging over 3,000 visitors. This interactive event not only entertained but also delivered an important financial lesson, supporting the recent launch of AIA SaveSmart. AIA introduced a unique twist to the classic board game, allowing children to earn ‘AIA SaveSmart Shields’ at certain spot

Enhancing your financial literacy with CSE Education Academy Key market platforms, price indices and investment instruments

In the journey to becoming a savvy investor, it is essential to grasp the various aspects of how stock markets operate and what opportunities are available to both companies and investors.

Ambewela relaunches butter with modern look and enhanced taste

Ambewela recently relaunched its butter, a move designed to align its premium dairy offerings with the evolving needs of consumers.