Bally’s Colombo unveils exclusive VIP lounge for elite members

Bally’s Colombo, a prominent name in the Colombo nightlife scene and a top destination for night entertainment, recently launched its new Very Important Person (VIP) Lounge named ‘Paiza’.

Festival of Creativity 2024 to bring together creative minds and emerging talent

The Festival of Creativity 2024 is set to showcase and celebrate creative talent in Sri Lanka.

Kelaniya Toastmasters Club celebrates fourth Officer Installation

The Kelaniya Toastmasters Club hosted its highly anticipated fourth officer installation and new member induction ceremony on 27th July at the Bandaranaike Memorial International Conference Hall (BMICH) in Colombo.

DIMO Healthcare enhances Jaffna Teaching Hospital’s MRI capabilities

The healthcare arm of DIMO, also known as DIMO Healthcare recently installed the Siemens Healthineers 3 Tesla MRI Scanner at Jaffna Teaching Hospital. This enabled vital access to advanced healthcare technology for communities in the North region.

Abans launches newest range of Mibro smartwatches in Sri Lanka

Abans has launched the newest range of Mibro smartwatch range, in August 2024.

SL urged to reassess debt plan and strengthen governance

Sri Lanka’s political and bureaucratic leaders should reassess the current debt sustainability plan with a fresh Debt Sustainability Analysis (DSA) to establish a realistic path out of the debt crisis, a top economist said, whilst also urging governance reforms to tackle corruption vulnerabilities.

Elite bargaining remains the main roadblock

Sri Lanka needs to resolve the elite bargaining problem in order to achieve debt sustainability and to chart on a sustainable growth path.

New SEC directive opens doors for more investment advisors

The Securities and Exchange Commission (SEC) of Sri Lanka has introduced new entry requirements and broadened exemptions for its certification programmes, aiming to enhance professional standards and accessibility in the capital market industry.

ComBank raises Rs. 22.54 bn via biggest rights issue

The Commercial Bank of Ceylon PLC has announced that it has successfully completed the largest rights issue to date by a bank in Sri Lanka, raising Rs. 22.54 billion to increase the Tier I and total capital of the bank to accommodate and facilitate future business growth.

Dilshan Rodrigo takes over as Union Bank’s new Director/CEO

Senior Banker Dilshan Rodrigo will takeover responsibilities as Union Bank’s new Director and Chief Executive Officer, effective today.

National Tourism Awards return as industry rebounds

Sri Lanka Tourism is set to relaunch the National Tourism Awards, with the 7th edition scheduled for 2024, marking the return of a key event aimed at recognising excellence in the country’s travel and tourism sector.

Amana Bank records 68% growth in PBT and 82% growth in PAT

Amana Bank mid-year performance in 2024 has outpaced its 2023 first half, with significant growth across multiple key metrics including profitability, advances, deposits, and total assets while also maintaining key health ratios such as CASA and Stage 3 Impairment ratios beyond industry averages.

Indices close in green for the 5th consecutive day

The ASPI closed in green as a result of price gains in counters such as Sampath Bank, Ceylinco Insurance and Commercial Bank with the turnover crossing Rs. 776 mn.

Yield curve stable following heavy selling pressure

The secondary market yield curve remained broadly steady during yesterday’s session amidst limited activities. Slight buying interest emerged on some mid tenors reversing the selling pressure that prevailed in the previous sessions amidst the spike in last bond auction yields.

NDB Wealth Management-nVentures facilitate int’l resource personnel to enhance SL start-up ecosystem

NDB Wealth Management Ltd, following its strategic collaboration with nVentures PTE Ltd, successfully hosted an exclusive educational workshop, ‘Startup Investing 101.’

Janashakthi Group appoints Dilshan Wirasekara as Deputy CEO

Janashakthi Group announced the appointment of Dilshan Wirasekara as Deputy CEO.

Seylan Bank marks key milestone in enhancing students’ education

Seylan Bank recently unveiled its 250th Seylan ‘Pahasara Library’ at St. Anthony’s Tamil Maha Vidyalam in Colombo 14, marking a significant milestone in its mission to enhance literacy and education across Sri Lanka.

Litro Gas expands supply and distribution network

Litro Gas Lanka announced significant developments in its supply and distribution network.

AMW unveils Katana tyres for Yamaha two-wheelers

Associated Motorways (AMW), a name synonymous with excellence in the automotive industry, unveiled its latest innovation in tyre manufacture, the all-new range of AMW Katana tyres.

SriLankan launches new onboard safety video

SriLankan Airlines, aiming to capture travellers’ attention with its safety protocols, has launched a brand-new onboard safety video featuring a range of Sri Lanka’s most mesmerising scenic locations.

CA SL Business School welcomes 4th intake of Data Analytics Programme

The Business School of CA Sri Lanka held a special ceremony recently to welcome the fourth intake of its prestigious Advanced Certificate in Data Analytics Programme.

Sri Lanka’s Future: Forecast, Scenarios and Challenges

The Sri Lanka-Korea Business Council this week hosted a prolific panel discussion under the theme ‘Sri Lanka’s Future: Forecast, Scenarios and Challenges’, which delved into pressing topics concerning the country.

Sri Lanka-Korea Business Council panel discussion

The Sri Lanka-Korea Business Council of the Ceylon Chamber of Commerce held a panel discussion on Wednesday at Hilton Colombo Residences.

ICFS offers spot admission session for UK universities

The ICFS Education is hosting a University Spot Admission Session on August 17, where Sri Lankan students will have the opportunity to receive offer letters from York St John University and De Montfort University on the spot.

Top economist questions viability of private sector’s poverty level wages

Sri Lanka’s private sector is quick to lament the brain drain and staff shortages but it seems that it is contributing to the problem by failing to offer salaries that support a decent standard of living.

FTZMA urges govt. to fast-track ADB-funded container yard

The Free Trade Zone Manufacturers’ Association (FTZMA) has urged the Sri Lankan government to swiftly implement the proposed Asian Development Bank (ADB)-funded container-clearing yard in Kerawalapitiya, to mitigate the ongoing cargo delays at the Colombo Port.

National Development Bank PBT crosses Rs.6.5bn in 1H24

National Development Bank (NDB) posted a pre-tax profit of Rs.6.5 billion for the first half of 2024 (1H24), a growth of 58 percent, predominantly driven by the healthy net interest income.

cartoon 15.08.2024

HNB June quarter gets a lift from sharply lower provisions

A sharp drop in the provisions made for possible loans and other losses helped lift the profit at Hatton National Bank PLC (HNB) for the quarter ended in June 2024, as the company’s net interest income came under pressure, due to the faster decline in the interest rates charged on loans.

ComBank maintains growth impetus in 2Q despite external pressures

The Commercial Bank of Ceylon group, comprising of Sri Lanka’s biggest private sector bank and its subsidiaries and an associate, has reported gross income of Rs.163.12 billion for the six months ending June 30, 2024, a decline of 2.71 percent over the corresponding period of 2023.