ADB -Sri Lanka ink US$ 100 mn loan agreement for power sector reforms

The Asian Development Bank (ADB) and the government of Sri Lanka inked this week the loan agreement for power sector reforms in the country.

Sri Lanka plans to wrap up PTA with Indonesia by year-end

Sri Lanka plans to wrap up negotiations on the proposed Indonesia-Sri Lanka Preferential Trade Agreement (ISLPTA) by December with hopes to seal the same by March 2025.

Union Bank’s solid loan growth yet to lift earnings

As banks’ results for the June quarter roll in, Union Bank of Colombo PLC reported solid growth in loans, a notable shift for a bank historically conservative in its lending, even during the best of economic times.

CIC reports strong first quarter

Diversified conglomerate CIC Holdings PLC kicked off the first quarter of 2025 financial year (1Q25) with significant improvements in its earnings from the corresponding period of the previous year with topline growth seen in all business segments.

SLTPB completes tender process for PR and digital campaigns in key markets

The tenders for the public relations campaigns and six-month digital campaigns targeting key source markets have been completed, with the campaigns set to officially kickstart next month, Sri Lanka Tourism Promotions Bureau (SLTPB) announced yesterday.

National Tourism App soft launch by September

The highly anticipated Sri Lanka Tourism App, the first national app developed for the sector, will be launched as an information application by September this year.

SL to implement National Climatic Spatial Data Development Project with ProClime

Sri Lanka will implement the National Climatic Spatial Data Development Project in collaboration with Singapore-based start-up ProClime Pte.

Indices close on a positive note

The ASPI closed in green as a result of price gains in counters such as Richard Pieris & Company, Hatton National Bank and John Keells Holdings with the turnover crossing Rs. 582 mn.

Seylan Bank relaunches factoring financial services to enterprising businesses

Seylan Bank has expanded its comprehensive suite of financial services with Seylan Factoring, a means for clients to raise funds by trading outstanding trade receivables.

Selling interest extends in the secondary market

The secondary market witnessed continued sellinginterest from the previous session whilst selected maturities slightly edged higher during yesterday.

Luminex wins bid to clean up Kankasanthurei cement factory complex

Engineering firm Luminex PLC secured the tender to clean up the Kankasanthurei cement factory complex by collecting iron and other metal parts.

Saroja wins 45 Under 45 Leadership Excellence Award

S G Actuarial Consultancy Founder and Managing Director Saroja Gunatilleke recently won the prestigious 45 Under 45 Leadership Excellence Platinum Award 2024 awarded by the Global CEO Forum.

Great Place to Work FOR ALL Regional Conference in Sept.

This September, the Great Place to Work FOR ALL Regional Conference will return, promising a day of inspiring discussions and valuable insights. Scheduled for September 10, 2024, from 8:00 a.m. to 5:30 p.m., at Grand Ballroom, Hilton Colombo, the event will explore the future of work with a focus on inclusivity, purpose and culture.

Condominium Developers Association holds 10th AGM

The Condominium Developers Association of Sri Lanka (CDASL) successfully held its 10th Annual General Meeting (AGM) recently, at the Board Room of the Ceylon Chamber of Commerce.

Hemas Hospitals offers affordable healthcare for over 3mn Agrahara beneficiaries

Hemas Hospitals, Sri Lanka’s Most Loved Healthcare Brand according to LMD, has positioned itself as Sri Lanka’s most awarded, internationally accredited hospital chain that provides accessibility to high-quality, affordable and convenient healthcare services for beneficiaries of the Agrahara insurance scheme for the state sector employees.

WindForce unveils 10 MW Kebitigollewa Solar Power Project

WindForce PLC is ceremonially inaugurating the 10 MW Kebitigollewa Solar Power Project today.

Ceylon Chamber launches Vision 2030 policy document

The Ceylon Chamber of Commerce launched its landmark policy document Vision 2030, designed to steer Sri Lanka towards sustainable and inclusive development by 2030.

Bilesma Natural opens store in Nugegoda

Bilesma Natural, a leading 100 percent natural Sri Lankan beauty care products manufacturer, has expanded its operations by unveiling its first-ever store recently, conveniently located at 296, High Level Road, Nugegoda.

Unidil wins 10 Golds at NCQP 2024

Unidil Group of Companies, the packaging arm of Vallibel One PLC and leader in packaging solutions for local and export industries in Sri Lanka, has once again demonstrated its excellence by winning 10 Gold awards at National Convention on Quality and Productivity (NCQP) 2024.

Citi hosts knowledge sharing session on digitisation

Citi reaffirmed its commitment to advancing client understanding on digitisation by hosting a knowledge sharing session themed ‘Seamless Digitisation Through Citi’s API Capabilities’ recently.

Sri Lanka among top three APAC countries for cyber vulnerability

Sri Lanka ranks among the top three countries in the Asia-Pacific (APAC) for cyberattack vulnerability, with nearly 35 percent of internet users affected in the first seven months of the year, according to the cybersecurity provider Kaspersky.

Sri Lankan missions to issue tourist and business visas

In an effort to ensure international visitors do not face inconvenience in obtaining the relevant permits to enter Sri Lanka,

SLT-Mobitel geared up and ready to resume e-Visa services: SLTDA

While the court decision was made for the Immigration Department to revert to the earlier ETA, SLT-Mobitel is “geared up and ready” to resume operations, the Sri Lanka Tourism Development Authority (SLTDA) said.

Hayleys Group delivers exceptional value to people and planet in 2023/24

Hayleys PLC, Sri Lanka’s largest public listed diversified conglomerate, reported an economic value creation of Rs.150 billion, parallel to delivering progress on its sustainability targets over the last financial year (FY2023-24).

Chevron Lubricants Lanka reports mixed 2Q results

Chevron Lubricants Lanka PLC reported a mixed financial performance for the second quarter of 2024 (2Q24), with significant contractions in earnings and revenue, yet notable gains in operating profit and a strong first half performance.

Fitch assigns HNB’s subordinated debentures a National Long-Term Rating of ‘BBB+(lka)’

Fitch Ratings has assigned Hatton National Bank PLC’s (HNB, A(lka)/Stable) proposed Sri Lankan rupee-denominated Basel III-compliant subordinated debentures of up to Rs.12 billion a final National Long-Term Rating of ‘BBB+(lka)’.

Local producers slam govt.’s decision to resume egg imports

The move to resume imports sparked strong criticism from the local producers, who argued that the country is self-sufficient to fully cater to the local demand for eggs, even during the festive seasons, albeit at a higher price than what the government has offered.

Week commences in red

Indices closed in red as a result of price losses in counters such as Commercial Bank, Hatton National Bank and Sampath Bank with the turnover crossing Rs 863 Mn.

Yield curve ticks slightly high

The secondary market yield curve slightly edged up on the belly as selling pressure emerged on the mid tenures amidst moderate volumes.

DFCC Bank sets new benchmark with Digital Tax Certificate downloads

Introducing yet another 1st for Sri Lanka, DFCC Bank announced the launch of a new feature to its online banking platform that allows customers to download their Advance Income Tax Certificates directly.