ADB urges SL to embrace green bonds for growth

Sri Lanka must intensify efforts to sustain its growth while addressing the climate change challenges, the Asian Development Bank (ADB) stressed yesterday, highlighting the need for the island nation to turn to green bonds to meet its needs.

Business chambers call for immediate halt to customs action

The Joint Chambers of Commerce yesterday expressed strong disapproval of the decision by the customs officers to work to rule, emphasising the urgent need to resume normal operations to avoid further harm to businesses.

Domestic LPG market to leapfrog in years ahead: Laugfs Gas

The domestic liquefied petroleum gas (LPG) market is expected to leapfrog in the years ahead, despite the setbacks faced by the industry during the time of recent economic and financial crisis in the country, Laugfs Gas PLC said.

Sri Lanka closes US $ 12.5bn bond restructuring deal

Sri Lanka has successfully concluded its discussions with the bondholders, reaching an agreement on the restructuring terms yesterday. This follows an unsuccessful first round of talks in April.

Maharajah Foods IPO opens today

Maharajah Foods Limited, a leading manufacturer and exporter of Sri Lankan foods and spices, is opening its initial public offering (IPO) today. The entity is Sri Lanka’s first women-owned enterprise, with founders’ origins from the Northern province, to be listed on the Colombo Stock Exchange (CSE). Maharajah Foods is offering for subscription 25 million ordinary voting shares at Rs.5.00 per share, to raise a total sum of Rs.125 million. The sha

No suitable suitors for SriLankan Airlines, says Aviation Minister

There are no suitable suitors for the national carrier SriLankan Airlines, Ports, Shipping and Aviation Minister Nimal Siripala de Silva said yesterday.

cartoon 04.07.2024

Auction yields rest amidst renewed buying interest

The secondary market commenced the day and witnessed slower momentum continuing the trend from previous sessions, longing for the T-bill auction outcome, which was scheduled for yesterday. However, the market regained buying interest post the T-bill auction, as the liquid maturities 2026 and 2028 enticed trades during the day namely, the 01.06.26 maturity traded at 10.70 percent, 01.08.26 traded at 10.80 percent, 15.02.28 and 15.03.28 traded at 1

Foreign buying continues

Indices closed in red as a result of price losses in counters such as Hayleys, Hatton National Bank and Melstacorp with the turnover crossing Rs 1.5 Bn. Crossings were witnessed in Windforce, Sampath Bank, John Keells Holdings and Alumex accounting for 52.1% of the turnover. Mixed interest was observed in Hayleys, LVL Energy Fund and Hatton National Bank whilst retail interest was noted in SMB Leasing, Browns Investments and LOLC Finance. Further

Sri Lanka Ports Authority and Virginia Ports Authority sign MOC

The Sri Lanka Ports Authority (SLPA) signed a Memorandum of Cooperation (MOC) with Virginia Ports Authority (VPA) in the United States of America, where the two sides have agreed to enter into a cooperative agreement for the mutual exchange of expertise and technical collaboration between the two ports. SLPA officials travelled to the United States as a part of the Port of Colombo Capacity Building Project, supported by the U.S. Embassy in Sri La

Fitch affirms Sunshine Holdings at ‘AA+(lka)’; Outlook Stable

Fitch Ratings announced it has affirmed Sunshine Holdings PLC’s National Long-Term Rating at ‘AA+(lka)’. The Outlook is Stable. Sunshine’s rating reflects its steady business profile, which is anchored by defensive cashflows in its healthcare manufacturing and retail and consumer segments, and its strong balance sheet. “This counterbalances weaknesses in its agriculture segment (16 percent of EBIT) over the next 12-18 months amid moderating palm

HNB starts agripreneurship development in Nochchiyagama

HNB PLC celebrated a step forward in the nation’s agricultural development with the launch of the HNB Sarusara programme in Nochchiyama, Anuradhapura recently. Attended by over 700 agripreneurs, the pioneering event established a platform for demonstrating smart and precise agricultural techniques and solutions capable of enhancing farming practices, increasing productivity and improving livelihoods leveraging modern technology. The event also

Prof. Karunaratne represents SL at GDC regional consultation meeting

Professor Veranja Karunaratne, the Vice Chancellor of SLT Campus, in his capacity as the Chairman of the National Science and Technology Commission, represented the Government of Sri Lanka at a regional consultation meeting of the Global Digital Compact (GDC) organised by the Government of Bangladesh in collaboration with the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) Secretariat on June 22-23. The a

Keells Supermarkets together with DMS introduce Self-Checkout Systems

Keells Supermarkets quite recently have upped their game by introducing self-checkout systems from Diebold Nixdorf USA; the global leader for retail automation systems. This is a milestone for Keells as they have become the first supermarket to implement self-checkout systems in the whole of South Asia, well ahead of larger markets in this region like India, Pakistan and Bangladesh. Keells Supermarket has deployed multiple self-checkout machines

CAL Revolutionizes Treasury Bill and Bond Investments with LankaPay integration

Colombo, Sri Lanka - Capital Alliance PLC (CAL), a leader in financial innovation, has once again broken new ground by launching the next generation of digital investment opportunities in Sri Lankan Government Treasury Bills and Bonds. This initiative is the first of its kind in Sri Lanka, enabling investors to engage in the market with as little as LKR 40,000 through the CAL Online platform. For the first time in Sri Lanka, Treasury investments

ADB to fund US$ 100 mn for SL’s power sector reform programme

The Asian Development Bank is set to provide a US$ 100 million loan to implement a reform and renovation programme in Sri Lanka’s power sector.  The Cabinet of Ministers recently approved the securing of the loan from the ADB to commence the first phase of the three-part reform initiative, titled the ‘Renovation and Financial Sustainability Programme’.  The project, implemented in collaboration with the ADB and the government, aims to address key

Literary feast at Kandy City Centre!

Book lovers are flocking to the Kandy Book Fair at the Kandy City Centre (KCC), organized by the Sri Lanka Book Publishers’ Association. The fair, which offers a wide array of books

Nawaloka Hospitals felicitates Sri Lanka’s Nephrology trailblazers

Nawaloka Hospitals PLC recently felicitated the pioneers in the field of Nephrology in Sri Lanka and announced the successful completion of 500 kidney transplant surgeries to-date.

SLT-Mobitel empowers businesses at BNI Conference 2024

SLT-Mobitel empowered the BNI Sri Lanka National Conference 2024, held on June 6. The day commenced with a CEO Forum at Waters Edge, Battaramulla. Later, the conference continued into the evening at Shangri-La Hotel, providing a platform for networking and insights in building a vibrant business ecosystem. The annual BNI Sri Lanka Conference gained significant strength from SLT-Mobitel’s participation as a Silver sponsor as the company’s presence

BOC opens Galle Premier Branch

The Bank of Ceylon (BOC) announced the opening of its Galle Premier Branch, a milestone aimed at delivering an exceptional level of personalised banking services to its esteemed customers. The inaugural ceremony was led by the Bank of Ceylon Chairman, Kavan Ratnayaka, who was accompanied by the General Manager and the Chief Executive Officer, W.P. Russell Fonseka.

BoardPAC awarded Carbon Neutral Certification for second year

BoardPAC has earned the Carbon Neutral Certificate for 2022 from the Sri Lanka Climate Fund (SLCF). For the second consecutive year, BoardPAC has secured this certification by offsetting its Organization Level Greenhouse Gas (GHG) emissions, after being audited to the specifications of the ISO 14064 - 1:2018 standard. To-date, BoardPAC has assisted clients from over 40 countries in transforming their board meetings into efficient, eco-friendly p

British Council presents ‘Youth-Led Green and Inclusive Businesses’ project

The British Council Sri Lanka recently celebrated the pilot phase of the ‘Youth-Led Green and Inclusive Businesses’ project to commemorate the 2024 International Micro, Small and Medium-sized Enterprises (MSMEs) Day. The ‘Youth-Led Green and Inclusive Businesses’ projectequipped young entrepreneurs with knowledge, skills, resources, and networks, and aimed to transform existing businesses into greener and more inclusive models. The event, title

People’s Bank opens Service Center in Nawagattegama

People’s Bank recently opened its newest Service Centre at Nawagattegama. The Service Centre provides the latest digital banking services including an ATM enabling customers to withdraw money 365 days of the year, 7 days of the week and 24 hours of the day. People’s Bank Assistant General Manager (Channel Management) E.P.A. Sisira Kumara, Puttalam Regional Manager Rajiv Karunanayke, Asst. Regional Manager Mahesha Sirimanne, Anamaduwa Branch Manag

Reforms and rupee rise ramp up SOE profits

Sri Lanka’s State-Owned Enterprises (SOEs) that come under harsh criticism for their financial inefficiencies have reported “robust performance” in the first four months of 2024, according to the Ministry of Finance.

Outstanding credit card balance takes a dip in May

Sri Lanka’s outstanding credit card balance slipped in May after rising in April in a sign that people are still reluctant to use credit card debt due to exponentially high rates which are long overdue for correction.

Govt. to launch Rs.2 bn loan scheme to uplift women–led SMEs  

Women entrepreneurs in Sri Lanka are set to receive a fresh push from the government, with the launch of a new loan scheme aimed at supporting their Small and Medium Enterprises (SMEs).

ComBank’s largest debenture oversubscribed on opening day

The Commercial Bank of Ceylon’s and Sri Lanka’s largest ever debenture issue by a private bank closed after oversubscription on its opening day (July 2) raising Rs. 20 billion for Sri Lanka’s biggest private sector bank, and demonstrating investor confidence in the institution.

Apparel sector to get boost with GTEX2 launch today

Sri Lanka will launch today the second phase of the Global Programme on Textile and Clothing (GTEX2) which will help uplift the local apparel sector.

ASPI gains after 4 consecutive days of losses

The ASPI closed in green as a result of price gains in counters such as Ceylinco Insurance, Sampath Bank and John Keells Holdings with the turnover crossing Rs. 1.8 bn.

Subdued engagement amidst uncertainty

Secondary market activities continued to see lackluster movement during yesterday as investors resorted to sidelinesawaiting the weekly auction outcome.