Jaffna’s tourism boom lifts Jetwing Jaffna to new heights

Jetwing Jaffna experienced a significant financial upswing in the fiscal year 2023/24, achieving a 60 percent improvement in performance compared to the preceding year.

Rajarata University and CSE introduce diplomas

The Colombo Stock Exchange (CSE) announced a groundbreaking initiative: the launch of the first-ever university and industry collaborative diplomas offered by Rajarata University of Sri Lanka (RUSL), in collaboration with the CSE and facilitated by the CSE Education Academy.

Softlogic Stockbrokers with Azure OpenAI Service enhances StockGPT platform

Softlogic Stockbrokers, the full-service brokerage arm of Softlogic Capital PLC, has recently harnessed the power of Microsoft Azure OpenAI Service to introduce StockGPT, an innovative AI tool designed to empower the financial services sector.

HNB Assurance-Colombo Uni unveil Aspire programme for top achievers

HNB Assurance PLC entered into a strategic partnership with the Faculty of Management and Finance at the University of Colombo, to introduce the HNB Assurance Aspire programme.

Union Assurance offers array of premium payment options

Union Assurance, Sri Lanka’s premier life insurer, provides customers with unparalleled flexibility to manage their life insurance policies and stay financially protected with a wide array of premium payment options, including company platforms, partner banks, e-wallets and retail stores.

Haycarb electrochemical lab to support energy storage material innovations

Haycarb PLC, a global leader in activated carbon, announced the inauguration of its cutting-edge electrochemical laboratory, now known as its Centre of Innovation (CoI).

SL is closer to rating agencies’ determination on solvency status: CB

Central Bank Governor Dr. Nandalal Weerasinghe this week said he is optimistic about the definitive end to all types of debt restructuring and the beginning of debt repayment would lift Sri Lanka out of the ‘default’ status assigned by the global rating agencies.

Sri Lanka to review progress of economic and trade relations with Pakistan

Sri Lanka will review the progress of its economic and trade relations with Pakistan at the bilateral discussions set to take place at the end of this month, the Foreign Affairs Ministry announced yesterday.

SOERU sets record straight on HDL and SLT divestiture

The State-Owned Enterprise Restructuring Unit (SOERU) yesterday addressed the misconceptions regarding the divestiture of Hotel Developers Lanka (HDL) Ltd and Sri Lanka Telecom PLC (SLT).

Offerings total 5.8 MnKgs at this week’s Colombo Tea Auction

The offerings at the Colombo Tea Auction totalled 5.8 million kilogrammes, where the Low Grown/Leafy teas – the Better sorts, continued to sell well, whilst the others were easier.

Global recognition for Aitken Spence Maldives resorts’ sustainable practices

Aitken Spence Hotels’ all five Maldives resorts have received the Global Sustainable Tourism Council’s Green Globe Certification, in recognition of their contribution to sustainable tourism.

Hotel Show Colombo 2024 kicks off

Sri Lanka’s largest hospitality trade exhibition, Hotel Show Colombo 2024, kicked off yesterday at the BMICH.

Drastic decline in women’s retention rates in SL’s tourism

Adding to the woes of Sri Lanka dealing with the low availability of quality human capital in the hospitality and tourism industry, recent statements by officials from key stakeholder agencies highlighted a concerning trend on the low women’s participation in the sector.

Crossings drive turnover

The ASPI edged down as a result of price losses in counters such as Commercial Bank, SMB Leasing nonvoting and SMB Leasing with the turnover crossing Rs. 575 Mn. A similar behaviour was witnessed in the S&P SL20.

Selling pressure emerges ahead of T-bond auction

The secondary market yield curve slightly edged up during yesterday’s session led by strong selling pressure ahead of the upcoming bond auction scheduled to take place next week.

Shangri-La Colombo to present ‘Flavours of Türkiye’ unique culinary experience in august

Shangri-La Colombo will be presenting an extraordinary culinary experience with “Flavours of Türkiye” – an extravaganza of Turkish food and culture – from the 2nd to the 11th of August.

AIA Poson Safety Programme saves six lives this year

AIA Insurance concluded the 29th year of its Poson Safety Programme, celebrating zero fatalities and the rescue of six lives.

Ceylinco Life’s sales performers treated to holiday in Malaysia

Sales professionals of Ceylinco Life who performed well in 2023 were recently treated to a holiday in Malaysia.

Chevron to donate US$ 35,000 to SLRCS well-cleaning programme

Chevron Lubricants Lanka PLC (CLLP) announced its intention to donate US$ 35,000 to the Sri Lanka Red Cross Society (SLRCS) as flood relief, specifically towards the cleaning of 1,500 wells in the Colombo and Matara districts, considering the devastation caused by floods during the first week of June.

NDB Bank refurbishes Hikkaduwa ambulance with Suwaseriya Foundation

NDB Bank has joined hands with the ‘1990 Suwaseriya Foundation’ to ‘Adopt an Ambulance’.

Janashakthi Life celebrates top performers with yacht tour

Janashakthi Life recognized and celebrated the achievements of its top performers by hosting an exclusive yacht tour featuring a scenic sunset cruise.

NTB renews partnership with Wildlife and Nature Protection Society

Nations Trust Bank has renewed its partnership with the Wildlife and Nature Protection Society of Sri Lanka (WNPS), continuing the bank’s contribution to WNPS and its environmental and awareness-building initiatives.

People’s Bank renovates NHSL’s Cardiothoracic Pediatric Ward

Completing yet another significant step towards enhancing the healthcare infrastructure of Sri Lanka, People’s Bank announced the completion and official opening of the newly renovated Cardiothoracic Pediatric Ward (Ward 1) at the National Hospital of Sri Lanka (NHSL), Colombo.

Sri Lanka unveils blueprint to transform outdated plantation sector to thriving agro-business

President Ranil Wickremesinghe yesterday unveiled a blueprint to transform the country’s outdated plantation sector towards a modern and thriving agro-business by rolling out a slew of major reforms with an inside-out approach.

Efforts underway to introduce climate change legislations to meet net zero carbon targets

The government is planning to introduce climate change legislation along with other new environment laws to meet net zero carbon targets before 2050.

CB cuts key rates by 25bps to prop up credit, economic growth

The Central Bank trimmed the policy rates by 0.25 percentage points. While the decision caught some sections of the economy off guard, others were not surprised.

Ceylon Chamber urges government to revisit Sri Lanka’s visa strategy

The Ceylon Chamber of Commerce (CCC) yesterday called on the government to revisit the country’s visa strategy, so that Sri Lanka does not lose its market share in tourism to regional competitors.

Single policy rate in the offing as technical works ongoing: Central Bank

The Central Bank is currently having technical level consultations in its bid to move away from the current dual policy rate and it reiterated that the single policy rate would be in operation before the end of the year.

Overseas Realty records Rs 3.5bn PBT in 1H

Overseas Realty (Ceylon) PLC has recorded a group revenue of Rs. 3,605 million and a group Profit Before Tax (PBT) of Rs. 3,519million for 6 months ended 30June 2024.

CEB’s cashflow sufficient for debt servicing despite tariff cut: Fitch Ratings

The 22.5 percent electricity tariff cut, effective July 16, won’t hurt the Ceylon Electricity Board’s (CEB) cashflows, and will remain sufficient for debt servicing, Fitch Ratings confirmed.