Top mixologists to compete at National Bartenders Grand Finale

The 29th National Bartenders Competition 2024 has successfully completed its regional qualifying rounds, setting the stage....

Singhagiri.lk online store relaunched

Singhagiri (Pvt) Ltd has re-launched its online shopping site to provide an optimal user experience for its customers...

Unemployment and low income are major problems: President

Sri Lanka is slowly coming out from the severe challenges it faced since 2020, however President Ranil Wickremesinghe....

Laugfs Power initiates 10MW solar plant project in H’tota

Laugfs Power PLC has kicked off efforts to build a 10MW ground mount solar power plant in Hambantota. The company....

Dipped Products unveils purpose built EVPRO glove

Dipped Products PLC (DPL) announced the launch of the EVPRO Glove - the first ever product specifically....

Amana Bank recognised as ‘Best Common ATM Enabler’

Amana Bank was recognised with an award for Best Common ATM Enabler (Category C) at the recently held....

SOZO Beverages and IDL forge strategic partnership

SOZO Beverages Pvt Ltd announced its strategic partnership with International Distillers Ltd (IDL) recently. With its handpicked....

Domestically value added vehicles under spotlight on June 18

Locally assembled vehicles will come under focus come 18 June as over 200 domestically value added vehicles will be paraded....

Asian Ports top WB rankings while many large ports rank lower

The World Bank is out with its latest port ranking and predictably ports in Southeast Asia continue to dominate....

DFCC launches ‘Garusaru Hybrid Personal Loan’

DFCC Bank announced the launch of a ground-breaking new loan product, ‘DFCC Garusaru Hybrid Personal....

Samsung Sri Lanka unveils Galaxy A05

Samsung Sri Lanka announced an exclusive discount on the Galaxy A05 where customers can purchase the mobile....

“Sufficiently strong progress” on debt restructuring efforts: IMF

Acknowledges authorities have been holding extensive discussions and says there is strong expectation that agreements with external commercial creditors will be reached soon.

Colombo Tea Auction sees less demand and irregular trend in prices this week

The overall auction offerings increased this week and totalled 6.2 million kilogrammes, from 5.8 million kilogrammes the previous week. There was less demand and an irregular trend in the prices. The Ex-Estate offerings too recorded an increase over last and totalled 0.88 million kilogrammes. There was improved activity for the better teas and less demand for the others. The Best Western BOP/BOPFs appreciated by Rs.50 per kilogramme and more

Fitch affirms Hatton National Bank at ‘A(lka)’; Outlook Stable

Fitch Ratings has affirmed Sri Lanka-based Hatton National Bank PLC’s (HNB) National Long-Term Rating at ‘A(lka)’. The Outlook is Stable. At the same time, Fitch has affirmed HNB’s Sri Lankan rupee senior unsecured debt at ‘A(lka)’. The ratings on the bank’s proposed and outstanding Sri Lankan rupee-subordinated debt have been affirmed at ‘BBB+(EXP)(lka)’ and ‘BBB+(lka)’, respectively. Fitch said HNB’s National Long-Term Rating reflects its own

Commercial Bank of Ceylon rating affirmed at ‘A(lka)’ by Fitch; Outlook Stable

Commercial Bank of Ceylon PLC (COMB) has been affirmed a National Long-Term Rating of ‘A(lka)’ by Fitch Ratings. While the Outlook is Stable, Fitch has also affirmed the bank’s subordinated debt at ‘BBB+(lka)’ and proposed subordinated debt at ‘BBB+(EXP)(lka)’. COMB’s rating is driven by its intrinsic credit strength and is highly influenced by the bank’s exposure to the weak credit profile of the Sri Lankan sovereign (Long-Term Foreign Currency

Culinary Art Food Expo 2024 kicks off in Colombo

The Culinary Art Food Expo in Sri Lanka is back again for the 18th consecutive time. Culinary Art Food Expo 2024, held at the BMICH till June 9, covers food pr

Capital Alliance revolutionises access to capital markets with CAL Online 2.0

Capital Alliance (CAL) marked a significant milestone in Sri Lanka’s financial landscape, with the launch of CAL Online 2.0. The latest addition to the upgraded platform is Instant Buying Power for equities, facilitated by the integration with JustPay by LankaPay. This feature not only empowers clients to instantly transfer funds to invest in equities and unit trust funds but also underscores the team’s aspiration to expand instant fund transfer

Lankem Ceylon to set up Rs.2.5bn fertiliser plant

Lankem Ceylon PLC, an importer and distributor of chemicals, namely agro-chemicals, industrial chemicals, bituminous products, consumer products and paints, this week announced that plans are underway to establish a fertiliser plant in the Anuradhapura district. Phase one of this project will be set up in Oyamaduwa. The capital investment and initial working capital requirement is estimated at Rs.2.5 billion. A new company, Lankem Minerals Limit

New Electricity Bill approval a courageous and transformative step: CCC

In a landmark decision, Parliament of Sri Lanka has approved the long-awaited Electricity Bill, marking a significant milestone in public sector reform. The Ceylon Chamber of Commerce (CCC), which has been advocating for this change for the past few years, yesterday commended the decision, hailing it as a “courageous and transformative step” forward for the nation’s electricity sector. The new bill paves the way for open access and unbundling of

ASPI gains 1.7% during the week

The ASPI edged up as a result of price gains in counters such as Commercial Bank, Nations Trust Bank nonvoting and Hatton National Bank nonvoting with the turnover crossing Rs 1.2 Bn. Meanwhile, the S&P SL20 closed in green. High net worth and institutional investor participation was noted in Hatton National Bank, Sampath Bank, and People’s Leasing & Finance. Mixed interest was observed in Access Engineering, Hayleys and DFCC Bank whilst retail i

Secondary market concludes week amid mixed sentiments

The secondary market experienced a day of mixed sentiment characterised by limited activity and thin trading volumes. Selling interest was evident in the short to mid-tenure bonds, particularly those maturing in 2026, such as the 01.02.26, 15.05.26 and 15.12.26 maturities, which traded within the range of 9.65 percent and 10.10 percent. Similarly, the bonds maturing in 2028, including 15.01.28, 15.03.28, 01.05.28, 01.07.28, 01.09.28 and 15.12.2

Brandix gifts school essentials for 8th consecutive year

Renewing its commitment to Sri Lankan youth with the gift of hope, Brandix Apparel conducted its Manusathkara Thilina programme for the eighth consecutive year, presenting 16,349 children of the Brandix family, vital school essentials, including stationery and schoolbags for the new academic year. The Manusathkara Thilina project ensures children of Brandix Associates receive equal opportunities for education. It helps them to continue their prim

First Capital-Habitat for Humanity complete housing project

First Capital Holdings PLC, in collaboration with Habitat for Humanity Sri Lanka, announced the successful completion of their CSR project aimed at providing access to safe and dignified housing for underprivileged families in the Bope-Poddala Division, in the Galle district. In a heartfelt ceremony attended by senior staff from both organisations and key government officials, two new homes were handed over to deserving families. From First Capit

Lanka Transformers and APAR Industries partner

In the dynamic landscape of the transformer industry, where innovation meets expertise, two industry giants, Lanka Transformers Ltd and APAR Industries Ltd, have forged an alliance that promises to redefine standards and elevate benchmarks. This alliance comes as a culmination of rigorous evaluation and meticulous selection, with APAR clinching the bid to supply bulk volumes of transformer oils to Lanka Transformers Ltd. Established in 1980 as a

Abans organises clean-up at Wellawatte beach

Abans, in partnership with Cleantech, organised a beach clean-up event at the Wellawatte beach recently, in commemoration of the World Environment Day. Themed ‘Extending Loyalty to the Environment’, the project is a demonstration of the organisation’s commitment to environmental stewardship and corporate social responsibility. This initiative brought together MyAbans Loyalty members, employees, local community members, university students and en

Ceylinco Life’s Family Savari 17 winners tour Turkey

A visit to Istanbul, Turkey, one of the world’s most historically and culturally significant cities and a travel enthusiast’s dream, became a reality for five Sri Lankan families recently courtesy of Ceylinco Life, the country’s largest life insurer. The grand prize winners of Ceylinco Life’s Family Savari mega promotion were treated to a five-day, all-expenses-paid holiday in Turkey, with the company picking up the tab for air tickets, accommoda

CameraLK appointed as official Sony distributor for Maldives

CameraLK, the leading camera retail giant in Sri Lanka, has been appointed by Sony Electronics as the official distributor for the Maldives. This partnership marks a significant milestone in CameraLK’s expansion and reinforces its position as a premier provider of photographic and imaging products in South Asia. With this appointment, CameraLK is all set to open a new branch in the Maldives by the end of this month. This expansion will ensure tha

Aitken Spence Hotels plants 2,000 trees

In celebration of the World Environment Day, Aitken Spence Hotels reaffirms its unwavering commitment to sustainability with the planting of 2,000 trees across its properties in Sri Lanka, the Maldives, India and Oman. This ambitious initiative not only underscores the company’s dedication to environmental conservation but also serves as a call to action for global ecological responsibility. Across its Sri Lankan properties, including Heritance K

Browns Hotels & Resorts unveils Ayugiri Ayurveda Wellness Resort Sigiriya

In a captivating reimagining of luxury wellness tourism, Browns Hotels & Resorts unveiled the exquisite Ayugiri Ayurveda Wellness Resort Sigiriya. This momentous occasion, celebrated amidst a vibrant and serene grand opening yesterday, heralds a new chapter in the ayurv

UML says less reliant on vehicle imports due to robust assembly operations

As the government prepares to resume vehicle imports later this year, one of Sri Lanka’s oldest automobile companies, United Motors Lanka (UML) PLC, has indicated that it has become less reliant on vehicle imports due to its robust assemb