Mitel selects Sri Lanka for partner conference

Mitel is represented by its long-standing partners Metropolitan Technologies (Pvt.) Ltd and Hayles Fentons Ltd Mitel, the market leading unified communications provider, chose Sri Lanka to hold its Annual Partner Conference in the region.

Fonterra to proceed with sale process for Consumer businesses

Fonterra Co-operative Group Ltd has 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.

Sri Lanka projected to emerge as one of world’s fastest-growing travel destinations in 2025

Sri Lanka is expected to rank among the world’s fastest-growing travel destinations in 2025, with tourism spending forecasted to increase by 40 percent, according to the 2024 WTM Global Travel Report, published in partnership with Tourism Economics.

Policy consistency crucial to boost SL’s apparel exports to US $ 8bn in 2025- JAAF

Policy consistency is key to achieving US $ 8 billion in apparel exports next year, up from an estimated US $ 5 billion in 2024, according to the Joint Apparel Association Forum (JAAF).

October tourism earnings at US $ 186mn

Sri Lanka recorded US $ 185.6 million from the tourism trade in October 2024, up from both a month ago and a year ago levels.

EDB invites local tech innovators for Electronica 2024 in Munich

The Export Development Board (EDB) has called on the local electronics companies to participate in Electronica 2024, one of the world’s leading electronics trade fairs held in Munich.

Softlogic Life grows 18%, hits Rs.22bn GWP by September

Adding stronger momentum to its growth trajectory, Softlogic Life posted a gross written premium (GWP) of Rs.22 billion during the nine months ending September 30, with an increase of 18 percent in topline growth compared to the corresponding period of last year.

Week begins in green

The ASPI closed in green as a result of price gains in counters such as Commercial Bank, Ceylon Tobacco Company and Melstacorp with the turnover crossing Rs. 2.4 Bn. A similar behaviour was witnessed in the S&P SL20.

Market slows down ahead of T-bond auction

The secondary market saw limited activity during yesterday’s trading session ahead of the Rs.132.5 billion worth T-bond auction scheduled for today.

Two top speakers to inaugurate Colombo International Maritime and Logistics Conference 2024

Sri Lanka’s largest and most prestigious three-day maritime and logistics conference will be held from November 27 to 29, at Cinnamon Grand Colombo, with over 60 speakers participating.

NDB digital transformation forum empowers southern region SMEs

NDB Bank recently held an exclusive digital transformation forum at Mount Rich Hotel in Galle, marking another milestone in its commitment to supporting Sri Lankan small and medium enterprises (SMEs).

Auto TrchniCar 2025 in January

Auto TrchniCar 2025, the most exclusive automotive exhibition of the year is to be held in Colombo at the BMICH from January 10 to 12, next year.

Sri Lanka’s global competitiveness at risk: Economic cost of cargo clearance delays

Efficient border agency operations are crucial for any economy, especially for island nations like Sri Lanka, where trade significantly contributes to economic growth.

BOI signs US$ 12.16mn deal with Celogen Lanka

The Board of Investment (BOI) of Sri Lanka has partnered in a US$ 12.16 million agreement with Celogen Lanka, a prominent local pharmaceutical manufacturer to support its research and development (R&D) initiatives.

Together for a Better Future: Alpha Industries and Partners Assist Visually Impaired Women with Essential Donations

In a significant step towards promoting inclusivity and support for visually impaired women, Alpha Industries - the manufacturing arm of the privately-owned FINCO Group, has made a contribution to the Sri Lanka Welfare Society of the Blind Women. In commemoration of International White Cane Day, celebrated annually on October 15th, Alpha Industries donated 300 white canes, aimed at improving the daily lives and mobility of visually impaired women

October remittances at US$ 588mn provide strong bulwark for economy

Worker remittances for October continued to come in stronger against both a month ago as well as a year ago period helping both the foreign currency reserves and the rupee to remain strong.

Tourism leaders urge singular approach to double Sri Lanka’s visitor numbers

As Sri Lanka stands on the cusp of a potential tourism boom, industry leaders are calling for a unified approach to drive demand for the destination while preserving its unique, authentic edge over competing markets.

Growth in private sector credit persists through September

The banks kept their lending spigots wide open as they grew more confident about the economy while the rates continued to come down, spurring more demand for credit as already seen from the interim results of the banks which opened their books for the September quarter.

Colombo Stock Exchange to close early for parliamentary election

The Colombo Stock Exchange (CSE) announced that trading will close early on Thursday, 14 November in observance of Sri Lanka’s parliamentary election.

Fitch rates Sampath Bank’s basel III subordinated debt ‘BBB+(EXP)(lka)’

Fitch Ratings has assigned Sampath Bank PLC’s (A(lka)/Stable) proposed Sri Lankan rupee-denominated Basel III-compliant subordinated debentures of up to Rs. 10 billion an expected National Long-Term Rating of ‘BBB+(EXP)(lka)’.

IMF delegation to visit Sri Lanka for third review

A delegation from the International Monetary Fund (IMF) is scheduled to visit Sri Lanka next week to conduct the third review under the country’s Extended Fund Facility (EFF) programme.

CTC reports higher top and bottom-lines but cries over higher levies

Ceylon Tobacco Company PLC (CTC) reported higher top and bottom-lines but said the repeatedly raised excise duty and other taxes continue to weigh on both the growth in the number of sticks that they sold while the inflation sent the raw material prices higher.

The Executive Centre explores SL’s emerging flex office space market

The flexible workspace industry, though often underdiscussed, is rapidly emerging as a prominent component within the global real estate sector.

Diamond Best Food unleashes new offerings and online shopping experience

Diamond Best Food (DBF) is making waves in the food industry with its rapid expansion of brands and innovative new products.

Dragons of Sri Lanka 2024 Awards rewards HNB Assurance

HNB Assurance received two Bronze awards at the prestigious Dragons of Sri Lanka 2024 Awards, held in Malaysia.

HNBA and HNBGI affirmed by Fitch at ‘A-(lka)’ with Stable Outlook

HNB Assurance PLC (HNBA) and HNB General Insurance Limited (HNBGI) have both been reaffirmed by Fitch Ratings with an ‘A-(lka)’ rating, indicating an outlook which is stable, signalling confidence in the companies’ financial health and future growth potential.

Ferentino Tyres unveils new range in Las Vegas

Ferentino Tyres, Sri Lanka’s leading tyre manufacturer, successfully showcased its latest range of tyres at the prestigious SEMA (Specialty Equipment Market Association) Show 2024, held from November 5-8 at the Las Vegas Convention Centre, USA.

Sunshine Holdings among Great Place to Work’s Best Large Workplaces in Asia

Cementing its commitment to creating a positive, inclusive and empowering work environment, diversified Sri Lankan conglomerate Sunshine Holdings was recognised among Asia’s Best Large Workplaces for 2024 by Great Place to Work.

Union Assurance successfully concludes BLOG-IT 3.0 campaign

Union Assurance announced the successful conclusion of BLOG-IT 3.0, marking the third consecutive year of this impactful campaign held in September, in celebration of the Life Insurance Awareness Month.

CEAT Kelani inspires top dealers with ‘Autobahn’ convention and awards gala

Sri Lanka’s leading tyre brand CEAT pulled out all the stops to felicitate and recognise top dealers at a two-day convention and awards gala at Cinnamon Grand and Port City recently, blending glitz and fun with an illuminating technical session.