Ninewells Hospital celebrates milestone of 1,500 general surgeries

Ninewells Hospital, Sri Lanka’s private healthcare provider specializing in women’s and children’s health, recently achieved a significant milestone with the completion of 1,500 successful general surgeries.

Japanese businesses eye opportunities in Sri Lanka: Kotaro

Sri Lanka’s reform agenda continues to garner positive attention globally, highlighted by the recent achievement of finalising long-awaited debt restructuring deals with the Official Creditor Committee (OCC) and China.

ADB shares possible support to local startups

Sri Lanka’s startup ecosystem is likely to receive a fresh boost in future as the Asian Development Bank (ADB) yesterday announced that the segment is among those that have been identified for support.

IMF says debt deal key to restoring debt sustainability

Sri Lanka’s agreements with China and other creditor nations to restructure about US$10 billion in bilateral debt brought it a step closer towards restoring debt sustainability, the International Monetary Fund (IMF) said yesterday.

Industries Ministry announces four new loan schemes 

The Ministry of Industries has started four new loan schemes in a bid to revitalise failed businesses in the micro, small and medium scale sectors.

Dialog connects 3 million Airtel Lanka subscribers

Dialog Axiata yesterday announced it has completely acquired Airtel Lanka and has kicked off amalgamation. Dialog Axiata PLC (Dialog), Axiata Group Berhad (Axiata), and Bharti Airtel Limited (Bharti Airtel) have successfully completed the share sale transaction.

PickMe races to Rs. 993 mn PBT in FY24

Digital mobility solutions provider PickMe concluded FY24 on a high gear, maintaining the growth acceleration from 3Q24 through to the final quarter. The fourth quarter saw the company hitting record-breaking peaks in both independent third-party driver and consumer bases.

Thumbs up from CCC for finalising external debt restructuring

The Ceylon Chamber of Commerce (CCC) yesterday congratulated the government in securing an agreement with the official bilateral creditors of external debt.

Banks slam lawmakers for misleading remarks

The Sri Lanka Banks’ Association (SLBA) strongly refuted recent criticisms from two senior lawmakers, labelling the comments as “misconceived, inaccurate, misleading, and unhelpful.”

Govt. credits anti-corruption laws for success in economic reforms

The enforcement of the Anti-Corruption Act in 2023 was a key milestone that propelled the economic reforms in Sri Lanka to success, the government said.

CA Sri Lanka and SLIIT forge new path for Accounting education excellence

The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) and the Sri Lanka Institute of Information Technology (SLIIT) recently forged a new path in accounting and IT education excellence by signing a Memorandum of Understanding (MoU) for the first time in history aimed at advancing and collaborating in professional education.

BOC opens Premier Branch in Galle

The Bank of Ceylon (BOC) opened its Galle Premier Branch, a significant milestone aimed at delivering an exceptional level of personalised banking services to its customers.

Sri Lanka sees launch of Strategic Trade Forum

The U.S. Embassy in Colombo, in partnership with the Sri Lanka Department of Import and Export Control, launched the first Sri Lanka Strategic Trade Forum recently.

Will wind power projects mortgage our future?

Saudi Arabia aims to utilise her vast arid lands to harvest renewable energy resources and to increase her share of renewables to around 50 percent by the year 2030. This is similar to Sri Lanka’s stated goal of 70 percent renewable energy usage by 2030. However, sadly this is where the similarity ends.

JAT Holdings appoints three directors

JAT Holdings PLC recently announced the appointment of three new Directors (Non Board Directors): Ajith Bandara as Director - Research & Development, Dilshan Rodrigo as Director Marketing and Shamara Wanniarachchi as Director/Country Head- Bangladesh.

WSO2 named Overall Leader in KuppingerCole CIAM Platforms Leadership Compass

WSO2 announced that it has been named an overall leader, product leader, innovation leader, and market leader in the KuppingerCole Analysts’ 2024 CIAM Platforms Leadership Compass report published on June 3.

dxdy and enprivacy join hands to empower Sri Lankan biz

dxdy and enprivacy have introduced a tailored privacy health check service aimed at assessing, refining, and strengthening privacy practices, serving as the cornerstone for building robust privacy programmes.

Sanasa Life Insurance appoints Puvendran Gajendra as new chairman

Sanasa Life Insurance PLC has appointed Puvendran Gajendra as their new Chairman, effective 19 June.

NDB Bank and SSC unite to launch exclusive affinity card

NDB Bank officially launched its NDB-SSC Affinity Card last week at an event held at the Singhalese Sports Club (SSC) premises.

Indices close on a negative note

The ASPI closed in red as a result of price losses in counters such as John Keells Holdings, Commercial Bank and Lion Brewery with the turnover crossing Rs. 1.0 bn.

Bond auction results roil the market

Despite Sri Lanka’s announcement of a final restructuring agreement for USD 10.0 bn of debt with China and bilateral creditors’ Official Creditors Committee in Paris, the secondary bond market saw a further upward shift in the yield curve amidst low trading volumes.

Forbes Magazine recognises Heritance Aarah as Best Beachfront Resort for families

Heritance Aarah, nestled in Raa Atoll of the Maldives, has been honoured with an important accolade by the Forbes Magazine as the Best Beachfront All-Inclusive Resort for Families in 2024. This is t

Study highlights strategies to curb Beedi and Smokeless Tobacco consumption in SL

Despite a notable reduction in formal cigarette consumption, the use of informal cigarettes such as beedi cigars remains a significant concern in Sri Lanka.Continued beedi consumption, especially among the poor, demands sustained efforts and innovative approaches to control tobacco use. A new publication by the Institute of Policy Studies of Sri Lanka (IPS) titled “Strategies to Curb Beedi and Smokeless T

Ceylon Eco Friendly Products gets patent rights to recycle shredded currency

Ceylon Eco Friendly Products (Pvt.),which came up with an innovative project to recycle shredded currency, had got clearance from international patent rights bodies and is now slated to start up an international level business.

National Bartenders Competition concludes on a high note

The 29th National Bartenders Competition 2024 concluded with a spectacular Grand Finale on June 14th at the Cinnamon Grand, Colombo.

Exports of illegal metal, iron, related equipment, scrap prohibited

Efforts are underway to prohibit the illegal export of metal, iron, related equipment and scrap from the country. All metal exports must receive approval from the Ministry of Industry, Finance State Minister Ranjith Siyambalapitiya said.

Sri Lanka strikes debt deals with bilateral lenders

Sri Lanka yesterday marked a significant milestone in its economic recovery journey as it brought to close more than yearlong talks with the bilateral lenders.

Rs. 3 mn worth penalties imposed on two banks for FTRA violations

The Financial Intelligence Unit (FIU) of Sri Lanka collected a total Rs. 3 million in penalties between January 1 to April 30 2024 from two banks for not complying with the provisions of the Financial Transactions Reporting Act (FTRA). FIU of the Central Bank stated that the DFCC Bank was fined Rs. 1 million on March 7 and Sampath Bank faced a penalty of Rs. 2 million on March 28. 

Economists see silver lining as SL seals debt deals

Sri Lanka solidified long-awaited agreements with its lenders yesterday, a move economists believe will foster positivity and help the nation emerge from selective default. The agreements with bilateral creditors are viewed as crucial for enhancing the sustainability of Sri Lanka’s external debt, signalling a positive direction for the country’s financial stability. “Interest payments will be lowered going forward, and there will be maturity exte

Merchandise export performance dips 5.8% YoY

Sri Lanka’s export performance continued to slow down with May recording a contraction in the earnings compared to previous years. Provisional data released by the Export Development Board (EDB) yesterday showed that export performance contracted by 5.81 percent Year-on-Year (YoY) to US$ 960.2 million. This is the second consecutive month Sri Lanka’s export sector missed to cross the US$ 1 million mark. While in January the export sector recorde