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.

Indices close in red

Indices closed in red as a result of price losses in counters such as LOLC Holdings, Melstacorp and Hatton National Bank with the turnover crossing Rs. 503 mn.

Bond market remained dried up ahead of T-Bond auction

The secondary market yield curve remained broadly stable while market activities were at a complete standstill yesterday. Investors remained cautious ahead of the Treasury bond auction scheduled for 30th Jul 2024.

JAAF calls on govt. to urgently reconsider SVAT abolition

With the countdown to the forthcoming abolition of the Simplified Value-Added Tax (SVAT) system ticking down to an end date of April 1, 2025, the apex body of the Sri Lankan apparel industry, the Joint Apparel Association Forum (JAAF), urged the government to urgently reconsider its decision in light of growing stresses on the industry.

ACCA recognises onlineaccounting.lk as Gold Approved Learning Partner

The Association of Chartered Certified Accountants (ACCA) announced the awarding of the prestigious Gold Approved Learning Partner status to onlineaccounting.lk, recognising its exceptional contribution to the field of accounting education.

Scope Cinemas brings IMAX to Sri Lanka

Scope Cinemas is set to revolutionise cinema experiences in Sri Lanka with the opening of its new IMAX theatre at Havelock City Mall on July 26, 2024.

Onomichi Dockyard MD visits HIP to seal partnership

Onomichi Dockyard Company Japan Managing Director and Colombo Dockyard PLC (CDPLC) Director Kunio Kobatake recently visited the Hambantota International Port (HIP).

Azreen Zaheer appointed to Amana Bank board

Amana Bank has announced the appointment of Azreen Zaheer, a seasoned financial professional with over 30 years’ experience to its board of directors as a Non-Executive Independent Director, with effect from July 20, 2024.

Maharaja Foods to debut trading at CSE today

Maharaja Foods Limited (MFPE), a renowned manufacturer and exporter of authentic Sri Lankan food and spices, proudly announces commencing secondary market trading at the Colombo Stock Exchange (CSE) today.

Presidential Environment Awards 2024 Bronze award winners

Presidential Environment Awards 2024, organised by the Central Environmental Authority, with the aim of preserving Sri Lanka’s environmental safety, was held under the patronage of President Ranil Wickremesinghe on June 28, 2024, at 10:00 a.m., at the Bandaranaike Memorial International Conference Hall.

Green light given to operationalise Citra 3.0

Prime Minister Dinesh Gunawardena convened a meeting yesterday with the co-chairs of the Citra Social Innovation Lab Governance Board on operationalising Citra 3.0.

Abans Auto opens 2nd Yadea flagship showroom

Abans Auto (Pvt.) Ltd, the leading automotive company in Sri Lanka, announced its continued commitment to eco-friendliness and sustainability with the opening of the second ever flagship showroom of Yadea electric bikes in Sri Lanka, on July 22, 2024.

Litro Gas presents Long Service Awards

Litro Gas Lanka Limited, Sri Lanka’s leading LPG provider, held its Long Service Awards Ceremony 2024, honouring the dedication and commitment of its employees.

Unilever wins Gold at ISGSD 2024 Industry Awards

Unilever Sri Lanka, a renowned leader in sustainable business practices, secured the coveted Gold award in the Clean Energy for Productive Uses category, at the inaugural International Symposium on Green Industry Initiative for Sustainable Industrial Development (ISGSD 2024).

Bio Energy Association holds AGM

The Bio Energy Association of Sri Lanka held its Annual General Meeting (AGM) recently, at the Institution of Engineers and appointed a new executive committee.

Piliyandala SOS Children’s Village gets HNB ATM

SOS Children’s Villages Sri Lanka, in partnership with Hatton National Bank (HNB), recently celebrated a milestone with the introduction of the 817th HNB ATM at SOS Children’s Village in Piliyandala.

Groundworth launches St. Katherine Gardens project

Groundworth Partners, a leading real estate and investment company, recently announced the launch of its prestigious real estate project, Groundworth St. Katherine Gardens, in Hokandara.

Kaspersky Safe Kids blocks inappropriate content, proves superior protection

Kaspersky Safe Kids has received the ‘Approved’ certificates from AV-TEST and AV-Comparatives, independent testing organisations, for its outstanding effectiveness in blocking inappropriate content.

SL still few more steps away from celebrating debt restructuring success

Treasury Secretary Mahinda Siriwardana yesterday said the country is still few more steps away from celebrating the success of nearly two years of debt restructuring exercise.

Japan first to resume development funding after debt deal

Japan yesterday became the first country to resume bilateral funding for the development projects in Sri Lanka, after sealing the external debt restructuring agreement with the country’s official creditors in the previous month.

Cartoon 25.07.2024

Colombo Tea Traders’ charity auction raises over Rs.46mn

The Colombo Tea Traders Association’s (CTTA) charity auction held last evening raised over Rs.46 million.

SL sets stage for Maldivian companies to list on CSE’s Multi-Currency Board

Sri Lanka will see the listing of Maldivian entities in the Colombo Stock Exchange (CSE), as the capital market regulators of the two countries inked an agreement to pave the way for this development.

“Very little” system change with elite control largely intact: Murtaza

Despite the recent economic improvements, “very little” system change has been achieved, with the elite control remaining largely intact, said Advocata Institute Chairman Murtaza Jafferjee, stressing that political courage is needed to maintain the current path and enact meaningful reforms to prevent the situation from worsening.

Indices continue to close in green

Indices closed in green as a result of price gains in counters such as Hatton National Bank, Commercial Bank and John Keells Holdings with the turnover crossing Rs 591 Mn.

Monetary Policy Board of CBSL announces a 25bps rate cut

The Monetary Policy Board of the Central Bank of Sri Lanka (CBSL), at its meeting held on July 23, 2024, decided to reduce the Standing Deposit Facility Rate (SDFR) and Standing Lending Facility Rate (SLFR) by 25 basis points (bps) to 8.25 percent and 9.25 percent, respectively.

Effective taxation and combating corruption

Jean-Baptiste Colbert, who served as the French Minister of Finance under King Louis XIV, once said, “The art of taxation consists in so plucking the goose as to obtain the largest possible amount of feathers with the smallest possible amount of hissing.”

HNB’s key departments receive ISO certifications

​HNB PLC announced the attainment of ISO 9001:2015 certification for its Centralized Credit Operations and Credit Administration Departments, reinforcing its dedication to service excellence and quality management.

Brandix Sri Lanka’s largest Corporate Blood Donor again

Brandix was once again felicitated as the country’s largest corporate blood donor, for the 12th consecutive year.

Almas Equities and IASSL renew collaboration on Whitelist Index

Almas Equities Pvt Ltd, in collaboration with the Institute of Applied Statistics, Sri Lanka (IASSL), launched the Whitelist Index in February 2023.