Women’s Chamber extends reach to Northern province

The Women’s Chamber of Industry and Commerce (WCIC), recognised as the national chamber for women in business, unveiled its proposal to establish chapters....

DSI Tyres introduces Online Pick Up From Dealer system

DSI Tyres, a revolutionary leader in the tyre industry, introduces the Online Pick Up From Dealer system to customers through its website, dsityreshop.com, with numerous....

JAT Holdings opens binder plant in Horana

JAT Holdings PLC, Sri Lanka’s frontrunner in wood coatings and brushes, celebrated a key milestone with the ceremonial opening of its state-of-the-art binder plant...

Assetline Finance relocates Badulla branch

Assetline Finance Limited (AFL) has relocated its Badulla branch to a new building at No.30, Race Course Road, Badulla. This move aims....

Hayleys Fentons wins Overall Award at NPMEA

Hayleys Fentons won the highest number of awards, including the Overall Best Managed Project of the Year title, at the recent National Project Management Excellence Awards (NPME) Gala....

Velona Cuddles unveils new chemical-free baby care essentials

Sri Lanka’s leading baby care brand Velona Cuddles has once again raised the benchmark for baby care essentials with the launch of its new range of alcohol-free, pH 5.5 baby...

SANASA Idiriya empowers undergraduates for career success

An awareness programme to develop knowledge and skills of young graduates to contribute proactively for the development of the agricultural....

Sands Active launches Meldol; inaugurates cephalosporin injectable plant

Meldol, a 500 mg Paracetamol BP tablet, offering reliable relief from pain and fever, manufactured by Sands Active (Pvt.) Ltd, was officially launched...

Economy accelerates in 1Q to 5.3% from 4.5% in 4Q last year

Sri Lanka’s economy grew at a faster pace of 5.3 percent in the first three months of 2024, picking up from 4.5 percent in the final three months of last year, as the economy cooled down from the red-hot inflation back then, while the availability in foreign currency helped improve the access to the inputs in manufacturing and rest of the sectors.

Ceylon Chamber calls on govt. to maintain current reform momentum

The Ceylon Chamber of Commerce (CCC) yesterday urged the government to maintain the momentum of the current reform agenda, to steer the economy towards lasting recovery and stable, inclusive growth. The CCC shared its view while commending the government for its efforts in securing the board level agreement on the second review of the Extended Fund Facility with the International Monetary Fund (IMF). In a statement to the media, the CCC noted th

Cabinet gives nod to further relax foreign exchange regulations

In a continued effort to facilitate developments in the domestic foreign exchange market, the Cabinet of Ministers approved a new rule issued by the Central Bank to further relax the foreign exchange regulations. Effective from June 20, 2024, the new rule, under Clause 22 (1) of Foreign Exchange Act (FEA) No. 12 of 2017, will further release certain suspensions and restrictions to facilitate the expansion of business activities by the resident

Oil prices set for best week in four months on demand outlook

REUTERS: Brent oil futures prices were steady yesterday and on course for their best week in more than four months after solid projections for crude oil and fuel demand. Brent crude futures were up 38 cents, or 0.46 percent, at US $ 83.13 a barrel by 1210 GMT. West Texas Intermediate (WTI) U.S. crude futures gained 27 cents, or 0.34 percent, to US $ 78.89. Brent and the U.S. benchmark had gained almost 4.5 percent over the week. That would mark B

Smaller volumes at Colombo Tea Auction this week

The Colombo Tea Auction saw a relatively smaller volume of 5.3 million kilogrammes on offer this week, compared to the 6.2 million kilogrammes the previous week. “A reasonably stable market for the time of the year, perhaps emanating from the lower volumes and a more stable currency,” Forbes and Walker Tea Brokers said. The Ex-Estate offerings were marginally lower to last and totalled 0.83 million kilogrammes. There was improved demand. A sel

Lion Brewery quits 18 foreign markets

Lion Brewery (Ceylon) PLC has quit 18 international markets under the international business strategy, to improve its profitability and growth trajectories. The company revealed that a strategic decision was taken to streamline its market base from 35 to 17 countries, which has allowed the company to concentrate its resources and efforts on key markets, optimising both margin and volume through an ideal product mix. “We consolidated resources and

Sun Siyam Pasikudah launches CarePhant project to foster ‘Kalo’

Sun Siyam Pasikudah, part of the Sun Siyam Resorts group announced the launch of the CarePhant project, an initiative to foster the well-being of a young elephant named Kalo at the Elephant Transit Home (ETH) in Udawalawe. The CarePhant project, supported by Sun Siyam Pasikudah, and in collaboration with the Department of Wildlife Conservation (DWC) of Sri Lanka, embodies a profound commitment to biodiversity conservation and responsible tourism

Fonterra Brands Lanka hosts workshop to mark World Environment Day

Fonterra Brands Lanka commemorated World Environment Day by hosting an educational workshop focused on environmental awareness and soil conservation practices. Aligned with this year’s theme of “Land Restoration, Desertification, and Drought Resilience”, the initiative aimed to empower the local community and future generations with the knowledge and skills needed to realize a more sustainable future. Held at the Fonterra Dairy Hub Pannala, the w

Spa Ceylon and Shangri-La Colombo jointly host ‘Wellness Month’ series

Spa Ceylon, the world’s largest luxury Ayurveda wellness brand, has extended its successful collaboration with Shangri-La Colombo for another year to launch ‘Wellness Month’, which is a series of wellness events taking place throughout June, scheduled around landmark days such as Global Wellness Day, and International Yoga Day celebrated during the month. To mark the official launch of ‘Wellness Month 2024’, Spa Ceylon and Shangri-La Colombo hel

Street Burger opens new branch in Nawala

Street Burger - home of Sri Lanka’s original gourmet burgers - is now in Nawala, and celebrating the opening of its 4th branch in the country. This new restaurant opening comes as part of the homegrown chain’s continued expansion across the island, in the hope of catering to more customers and keeping up with the restaurant’s growing popularity. “We’re excited to be able to make more accessible our signature brand of uniquely hand-crafted burger

NDB partners with Royal Rugby for third time

NDB Bank reaffirms its commitment to the development of sports and empowering the next generation by partnering with Royal Rugby as the Event Sponsor for the Royal College Rugby Season for the third time. The partnership underscores NDB’s dedication to nurturing young talent and fostering a culture of sportsmanship and excellence. The press conference for the 78th Bradby Shield Encounter, held on June 4th, marked the official announcement of Roy

Making every Match Day clean

As the “Performance Partner” for the recently concluded Asia Rugby Men’s Division 1 Tournament, First Capital initiated a volunteer clean-up programme after each match to ensure the stadium was cleaned and to promote the habit of maintaining tidiness and hygiene in stadiums.

Litro Gas celebrates ‘World LPG Day’ with renewed commitment to energy security

In commemoration of World LPG Day 2024, Litro Gas Lanka Limited reaffirmed its dedication to driving social, environmental, and economic transformation through the promotion of clean energy. This year’s celebration themed ’’Showcasing and Celebrating the People Behind LPG’’ holds particular significance for Sri Lanka as Litro Gas has successfully positioned LPG and energy security at the forefront of nation-building efforts.

Week ends with losses

Indices closed in red as a result of price losses in counters such as Dialog Axiata, Commercial Bank and Hatton National Bank with the turnover crossing Rs 1.2 Bn. High net worth and institutional investor participation was noted in John Keells Holdings, Hayleys Fabric and Teejay Lanka. Mixed interest was observed in Hayleys, Dipped Products and Lankem Developments whilst retail interest was noted in Dialog Axiata, Cargills Bank and Browns Invest

Yields stay steady amidst limited participation

By First Capital Research The secondary market yield curve remained broadly stable, reflecting subdued activity and thin trading volumes across the market. Among the traded maturities, 01.05.27 and 15.01.28 were seen trading at 10.60 percent and 11.05 percent, respectively. Meanwhile, the auction maturities 15.09.29 and 01.12.31 changed hands at 11.81 percent and 12.00 percent, respectively in the secondary market. Moreover, the Central Bank a

Cargills unveils redesigned ‘Go Green’ Bag

Cargills announced the launch of its newly redesigned ‘Go Green’ bag, now available at all Cargills Retail stores. Cargills was the first to introduce reusable bags in the sector with the original Go Green bag in 2007. The redesigned Cargills Go Green bag reflects the company’s ongoing commitment to phasing out polythene bags, which pose significant environmental hazards. Polythene bags also contribute to the drain on foreign currency from the co

IMF approves second review, but cautions economy still vulnerable

Sri Lanka was able to let out a sigh of relief yesterday with the Internal Monetary Fund (IMF) announcing the approval of the second review under the Extended Fund Facility (EFF) programme which will release US$ 337 million.

Debt restructuring finalisation by end June: Semasinghe

Repeating the message conveyed over the last couple of months, the Finance Ministry yesterday expressed confidence in Sri Lanka firming up the agreement in principle soon, noting it’s in the “final stages”.

Government to establish 25 District Industries Promotion Councils

The government is set to establish 25 District Industries Promotion Councils covering the entire island in support of local Micro, Small and Medium Industries (MSMEs).

Dialog Axiata launches 4G vehicle tracking solution

Dialog Axiata PLC, Sri Lanka’s #1 connectivity provider, announced the launch of the Smart Vehicle Tracker, an innovative, cost-effective smart vehicle tracking solution that utilises 4G LTE technology for worry-free vehicle and fleet monito

PickMe opens Jaffna and Anuradhapura branches

The app-based mobility company PickMe opened new branch offices in Jaffna and Anuradhapura last week, six months after it l

NSBM VC receives Lions’ MOC Award 2024

Prof. E.A. Weerasinghe, the esteemed Vice Chancellor of NSBM Green University, has been awarded the prestigious Most Outstanding Citizen 2024 (MOC Awards) by Lions International, in recognition of his exceptional contributions to society.