Nations Trust Bank delivers a solid June quarter

Nations Trust Bank PLC reported a solid June quarter performance, as it improved almost every key performance indicator, although the bank is still kicking into gear with respect to more meaningfully reopening its lending spigots.

Limited volumes dampen market activity

The secondary market experienced limited activity during the day on the back of lean trades.

Turnover hits LKR 1 Bn after two weeks

The ASPI closed in green as a result of price gains in counters such as Commercial Bank, Sampath Bank and Browns Investments with the turnover crossing Rs 1.3 Bn.

John Keells CG Auto rolls out BYD passenger vehicles to promote eco-friendly mobility

In a bid to popularize eco-friendly vehicles in Sri Lanka, John Keells CG Auto, a joint venture between Sri Lanka’s JKH Group and Nepal’s Chaudhary Group, as the authourised distributor for BYD passenger vehicles in the country yesterday officially opened the first BYD showroom and the service centre in Colombo.

BYD Auto open for discussion on assembly plant in SL

A top official of China-based BYD Auto Industry Co. Ltd shared that the company is open for discussion to setup an assembly plant in Sri Lanka in the future based on demand.

EDB presents flagship statistical publication

The Export Development Board’s (EDB) latest edition of the statistical publication provides statistical information related to Sri Lanka’s external trade and its contribution to major economic indicators such as trade balance. GDP and individual sectoral involvement for the year 2023 and five preceding years.

Softlogic Life records steady top line with Rs. 14.5bn GWP

Softlogic Life recorded another quarter of solid financial performance with a Gross Written Premium (GWP) of Rs. 14.5 billion for the first six months ending 30 June (2QFY24), with an increase in top-line growth of 17 percent compared to the corresponding period last year.

Sri Lanka’s economic potential highlighted at BIMSTEC Summit

The Ceylon Chamber of Commerce, together with its member companies, represented Sri Lanka at the BIMSTEC Business Summit held on August 6-7 in New Delhi.

DirectPay recognized for PCI DSS compliance

DirectPay announced its compliance with the Payment Card Industry Data Security Standard (PCI DSS) and celebrates an impressive achievement of processing Rs.30 billion in transactions since 2018.

British Council unveils research on transnational education in Sri Lanka

The British Council has released a pivotal report that offers valuable insights into the current state and future potential of transnational education (TNE) in Sri Lanka, underscoring the opportunities and challenges faced by students and educational institutions.

CSE forum raises awareness on alternative investment avenues

The Colombo Stock Exchange (CSE) hosted a special awareness session titled “Creating Opportunities for Wealth Creation and Diversification” recently with the objective of creating awareness among investors about the range of alternative instruments available at the bourse, that could be considered alongside traditional equity investments, and how these products can generate returns.

Sanasa Life Insurance signs MOU with Colombo-Re and Carekleen

Sanasa Life Insurance has partnered with Colombo-Re and Carekleen (Pvt) LTD to bring yet another insurance policy to provide an affordable insurance scheme for the employees of Carekleen.

Pelwatte Dairy empowers women farmers with new initiative

Pelwatte Dairy Industries Limited has launched a project titled “Inclusion of Women in the Formal Dairy Supply Chain for Economic Empowerment of Women Farmers” that aims to empower women farmers, enhance the local dairy industry’s capabilities, and promote sustainable agricultural practices.

Hash 3 Three exposes AI potential for businesses at special workshop

Digital consultancy company Hash 3 Three (Pvt) Ltd hosted a workshop in Colombo recently, uniting top business decision-makers from various industries to explore the potential of AI in revolutionizing their operations.

Jetstar Asia announces low-fare flights to Colombo

Jetstar Asia announced today that it will become the only low-cost carrier to fly directly from Singapore to Colombo, Sri Lanka, with the new service starting on November 21, 2024.

Large apparel firms urged to lead country’s sustainability drive

As sustainability is no longer a choice but a necessity for the textile and apparel industry, a top public official stressed that large industry players have an inherent responsibility and a larger role to play in guiding and supporting the whole industry on the path to sustainability.

Colombo Marina Development designated as primary venture with strategic development

Browns Investments’ Colombo Marina Development (Private) Limited venture has been designated as a primary venture with a strategic development in order to become eligible for a series of exemptions or incentives under the provisions of Colombo Port City Economic Commission Act.

Insurance watchdog announces plans to roll-out reforms as sector stalls

The Insurance Regulatory Commission of Sri Lanka (IRCSL) yesterday announced plans to implement reforms aimed at strengthening the stability and resilience of the local insurance industry, as the sector grapples with economic challenges that have stalled its growth.

Dialog June quarter underwhelms from higher overhead costs, low revenue

Dialog Axiata PLC reported some underwhelming performance in the quarter ended in June 2024 as the revenue declined while the overheads soared, pulling down the operating level performance of the group.

Sampath Bank to create history as Asia’s Best Bank for corporate responsibility

Sampath Bank is set to receive the ‘Asia’s Best Bank for Corporate Responsibility’ award at the Euromoney Awards for Excellence 2024, to be held on 12 September in Singapore.

hSenid Biz’s PeoplesHR Cloud drives 1Q25 growth

hSenid Business Solutions (hBS) for the quarter ending 30 June reported a total revenue of Rs. 466.0 million, and a net loss of Rs. 60.4 million, an improvement when compared to both 1Q24 and 4Q24.

EQT completes WSO2 acquisition

WSO2, a leading global provider of digital transformation technologies, yesterday announced that its acquisition by EQT was completed.

Cabinet clears Asiri Hospital, Gateway University leases at Colombo Port City

The Cabinet of Ministers this week approved lease agreements allowing Asiri Port City Hospital (Pvt) Ltd and Gateway International University (Pvt) Ltd to establish an international hospital, school, and university at Colombo Port City, with a combined investment of around US$ 150 million.

Indices continue to close in green

The ASPI closed in green as a result of price gains in counters such as LOLC Holdings, Ceylon Tobacco Company and Royal Ceramics with the turnover crossing Rs. 648 mn.

Secondary market stunt amidst surge in bond auction yields 

The secondary market witnessed limited activities as investors remain stunt after yields spiked sharply across both maturities at the Rs. 60.0bn T-bond auction held yesterday.

ComBank ranked as Most Respected Bank in SL for 20th successive year

Commercial Bank of Ceylon has completed two decades as LMD’s Most Respected Bank in Sri Lanka, with the announcement of the magazine’s Most Respected Entities in Sri Lanka rankings for 2024.

Sri Lanka-Australia-New Zealand Business Council hosts AGM

The 29th Annual General Meeting (AGM) of the Sri Lanka-Australia-New Zealand Business Council (SLANZBC) of the Ceylon Chamber of Commerce was held recently, with High Commissioner of Australia to Sri Lanka Paul Stephens and High Commissioner of New Zealand to Sri Lanka and the Maldives David Pine in attendance as chief guests.

EDB-Sampath Bank improve digital presence of export potential SMEs

Sri Lanka Export Development Board (EDB) has initiated a series of awareness programmes with the objective of improving the digital presence of export potential SMEs at the regional level in collaboration with Sampath Bank PLC.

SL’s first-ever 7-star project - Aviyana Ceylon seeks investors

Sri Lanka’s first seven-star hotel project, Aviyana Private Chalets (Aviyana Ceylon), under development in the Udispattuwa area of Kandy, is inviting investors to participate in its development.

Amãna Bank opens self-banking centre at Punanai ICST University Park

Amãna Bank opened its 30th self-banking centre at the recently inaugurated International Campus of Science & Technology (ICST) University Park located in Punanai, Batticaloa.