Australia’s United Petroleum eyes US$ 30mn food venture in SL

Australia’s United Petroleum plans setup a food manufacturing venture in Sri Lanka with an investment of US$ 20-30 million to produce pies and other convenience food items under Australia’s iconic pie brand ‘Pie Face’.

Tourism on a tear as July income at US$ 328mn

Sri Lanka has earned a robust income of US$ 328.3 million from the tourism trade in July at a level nearly equal to what the country gets from the International Monetary Fund (IMF) for six months for raising taxes of its people and corporations and perhaps on their properties and capital gains,

Trade groups urge industrial water tariff cuts

A coalition of Sri Lankan trade associations is urging authorities to reduce water tariffs for industrial users, citing the need to ease financial pressure on local industries.

HNB Assurance Group records remarkable 20% growth in GWP during 1H 2024

HNB Assurance PLC (HNBA) and HNB General Insurance Limited (HNBGI) have recorded outstanding financial results for the first half of 2024.

Traditional knife makers struggle to stay sharp

​Knife-making in Sri Lanka, a tradition passed down through generations, involves forging steel, precise grinding, and crafting wooden handles by hand.

Hambantota International Port projects 50% growth

The Hambantota International Port (HIP) has experienced a substantial increase in volumes, with a 40 percent growth recorded in 2024 to date.

Union Bank unveils upgraded UBgo mobile app

Union Bank announced the launch of the upgraded UBgo mobile app, marking a significant milestone in the bank’s digital transformation agenda.

Cybersecurity threat landscape constantly evolving: Kaspersky

The cybersecurity threat landscape is constantly evolving as new threat actors, technologies and threats emerge, creating an uncertain world for organisations and the public alike with potential pitfalls in even opening an email.

3DH Engineering delivers warehouse facility to Setmil

In a remarkable achievement, 3DH Engineering (Pvt.) Ltd has successfully completed and handed over a state-of-the-art warehouse and staff accommodation building for Setmil Warehouse Solutions (Pvt.) Ltd.

WNS Sri Lanka completes 20 years

In 2004, WNS, a pioneering global business process management (BPM) company, strategically expanded its footprint by establishing its first offshore delivery centre outside India in Colombo.

Sysco LABS-IIBA Colombo host Business Analysis Conference

Sysco LABS commenced its partnership with the International Institute of Business Analysis (IIBA) Colombo Chapter by supporting the organisation as the exclusive Platinum sponsor of the country’s first Business Analysis Conference.

Enfection launches new employee share option scheme

Seven years ago, Enfection was born out of a big vision and even bigger dreams of transforming the world of marketing through its insight-driven marketing approach.

Aitken Spence Logistics powers ‘Ship-in-a-Box’ transformation

The recent unveiling of the ‘Ship-in-a-Box’ maritime training simulator by the Sri Lanka Coast Guard represents a significant leap forward in enhancing the nation’s maritime security capabilities.

APRCE 2024: Transforming retail in APAC through innovation, sustainability, inclusive growth

Asia Pacific Retailers Conference and Exhibition (APRCE) 2024 will take place from September 4-6 at the Bandaranaike Memorial International Conference Hall in Colombo, under the theme ‘Redefining Retail in APAC: From Transactions to Transformation’.

First Capital Treasuries appoints Cilani Wijesinghe to board

First Capital Treasuries PLC, a subsidiary of First Capital Holdings PLC, announced the appointment of Cilani Wijesinghe as an Independent Non-Executive Director to the company’s board of directors, effective August 21, 2024.

People’s Insurance records outstanding growth, financial resilience

In a remarkable year of growth and success, People’s Insurance PLC has firmly established itself as one of Sri Lanka’s leading non-life insurance providers.

Assetline Finance opens 57th branch in Wellawatte

Assetline Finance Limited (AFL), a fully-owned subsidiary of David Pieris Holdings, marked yet another milestone by opening its 57th branch in the Wellawatte.

Dialog and MAS Foster Workplace Inclusivity with Enabler Programme 2024

Dialog Axiata PLC, Sri Lanka’s #1 connectivity provider, and MAS Holdings, an apparel manufacturing and technology conglomerate, are celebrating the successful conclusion of the Dialog MAS Enabler Programme 2024, demonstrating their commitment to fostering inclusivity and empowering persons with disabilities.

New Anthoney’s Group recognised at U.S. Soybean Export Council’s Soy Connext global summit

New Anthoney’s Group, one of Sri Lanka’s leading poultry producers making strides in environmental stewardship and sustainability, was recently recognised at Soy Connext, the Global U.S. Soy Summit, held at San Francisco Marriott Marquis, recently.

Transshipment volumes fall for third month as Colombo Port faces new competition

The transshipment volumes declined for the third straight month, bringing to a four-month low in July this year, as the Colombo Port started to see competition from the newly operationalised Adani’s Vizhinjam Port located in South India.

Credit Information Bureau expands credit report accessibility

The Credit Information Bureau of Sri Lanka (CRIB), the nation’s primary credit information authority, announced it is broadening the digital accessibility of credit scores and reports through strategic collaborations with banking and financial institutions.

Global Finance names HSBC SL as Best Consumer Digital Bank again

HSBC Sri Lanka has been recognised by Global Finance, winning the title for Best Consumer Digital Bank in Sri Lanka for the fourth consecutive year, in the 2024 World’s Best Consumer Digital Bank Awards in Asia-Pacific, held for the 25th year by Global Finance.

Profood Propack Agbiz 2024 kicks off

The Profood Propack Agbiz and Knowledge Hub 2024 exhibition, organised by the Sri Lanka Food Processors Association together with Lanka Exhibition and Conference Services kicked off yesterday.

PickMe plans IPO via offer for sale valued at Rs.1.6bn

Sri Lanka’s top ride-hailing app PickMe plans an initial public offering (IPO) via an offer for sale valued at Rs.1.6 billion.

Colombo Tea Auction offering increased marginally this week

The offerings at the Colombo Tea Auction increased marginally to 5.79 million kilogrammes from the previous week’s 5.63 million kilogrammes.

‘Managing Additives and Adulterants in Food Industry’ seminar today

The Institute of Food Science and Technology Sri Lanka is rolling out the industry seminar on ‘Managing Additives and Adulterants in the Food Industry’, at the Profood Propack Agbiz Knowledge Hub 2024 exhibition today.

Limited activity persists amidst thin trading volumes

The secondary market yield curve experienced limited activities and thin trading volumes during the day.

ASPI drops by 1.2% during the the week

Indices closed in red as a result of price losses in counters such as Hatton National Bank, Sampath Bank and Commercial Bank with the turnover crossing Rs 1.2 Bn. Crossings were witnessed in Malwatte Valley Plantations, Ambeon Holdings and National Development Bank, accounting for 58.5% of the turnover.

GIZ and three FMCG companies invest to create value from waste

In light of the solid waste management challenges faced, Deutsche Gesellschaftfür Internationale Zusammenarbeit (GIZ) GmbH and three of Sri Lanka’s largest Fast Moving Consumer Goods (FMCG) companies – Coca-Cola Sri Lanka Beverages Ltd. along with The Coca-Cola Foundation, Nestlé, and Unilever, have come together to launch a sustainable plastic waste management project, with the ambition of tackling plastic pollution and leveraging the untapped p

INSEE collaborates with PLEASE to reduce plastic pollution

INSEE Cement via its wholly owned subsidiary INSEE Ecocycle announced its collaboration with the Plastic Free Rivers and Seas for South Asia (PLEASE) Project. This project will enable INSEE Ecocycle to implement groundbreaking initiatives to reduce plastic pollution in Sri Lanka.