Women mean Business: A Coalition for Action

Inequitable access to finance is a major barrier for women-led micro, small and medium enterprises (MSMEs) in Sri Lanka.

SLT-Mobitel elevates enterprise communications for Merchant Bank

SLT-Mobitel Enterprise, delivering best-in-class technology for the enterprise segment, has signed a bilateral agreement with Merchant Bank of Sri Lanka & Finance PLC, Sri Lanka’s trailblazing financial institution, to revolutionise the lan

Ambeon appoints Jacky as Independent Non-Executive Director

Ambeon Capital PLC and Ambeon Holdings PLC together announced the appointment of Jacky Tsoi as an Independent Non-Executive Director of both entities. Tsoi is Managing Partner of Syndicate Capital, an international investment conglomerate that focuses on co-investments in mid-m

National tea sales average expands in May

National tea sales average for the month of May 2024 recorded Rs. 1,266.80 (US$ 4.25), showing an increase of Rs. 49.95 (US$ 0.16) in comparison with the April 2024 average of Rs. 1,216.85 (US$ 4.09). In comparison to the May 2023 average of Rs. 1,055.45 (US$ 3.43), sales average showed a positive variance of Rs. 211.35 and an incr

TVS Motor Company launches iQube electric scooter in Sri Lanka

In redefining electric mobility in Sri Lanka, a top global automaker operating in the two and three-wheeler segments, TVS Motor Company (TVSM), recently launched its premium electric scooter TVS iQube in Sri Lanka. This also marks th

Spa Ceylon clinches double win at Pure Beauty Global Awards 2024, dominating the Global Beauty Awards season

Spa Ceylon, the world’s largest Luxury Ayurveda chain, added another accolade to its trailblazer legacy by clinching a double-win at the prestigious Pure Beauty Global Awards 2024, held recently in London, following a winning streak of 17 i

Shane and Shehan appointed to Triad driving seat

Triad (Private) Limited, Sri Lanka’s leading homegrown, independent, ‘global local’ integrated communications powerhouse, has appointed Shane Wilson as Chief Executive Officer (CEO) and Shehan Samarasinha as Chief Operating Office

Surge secures 2nd landmark win in Qatar with contract topping Rs.1bn

Surge Global, a best-in-class design, technology and marketing firm, announced that it has secured its second landmark technology transformation project in Qatar, with an engagement in excess of a billion rupees. This event underscores Surge’s c

Indices up for 3rd straight session

The ASPI closed in green as a result of price gains in counters such as Sampath Bank, Commercial Bank and Ceylon Tobacco Company with the turnover crossing Rs. 1.5 bn. Similar b

Selling pressure inverts the secondary market

The secondary market witnessed selling pressure across the board during the day backed by moderate volumes owing to the surrounding uncertainty influenced by the IMF board meeting which is to be held on June 12. Limited trades were registered during the day namely, 15.05.26, 01.06.26, 01.08.26, 15.12.26 and 15.01.27 traded at 9.70%-10.1

Clarification

With reference to the article published in Mirror Business yesterday titled ‘SL Unit Trust Industry Crosses Key Milestones, Gains Tr

Bank of Ceylon rating affirmed at ‘CC’ and ‘A(lka)’/Stable by Fitch

Fitch Ratings yesterday affirmed Bank of Ceylon’s (BOC) Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘CC’.

Fitch affirms People’s Bank at ‘A(lka)’; Outlook Stable

Fitch Ratings yesterday announced it has affirmed the National Long-Term Rating on People’s Bank (Sri Lanka) (PB) at ‘A(lka)’. The Outlook is Stable. In the announcement, Fitch

Sri Lanka nears debt deal with bilateral lenders

Sri Lanka and a group of creditors are in advanced talks over a deal aimed at restructuring the nation’s debt with bilateral lenders, according to people familiar with the matter, Bloomberg reported. As per sources, asking

SL’s Halgolla certified as world’s 1st ‘regenagri’-certified tea estate

Kelani Valley Plantations pioneers intellectual tourism concept and establishment of on-estate biodiversity conservation centre Kelani Valley Plantations (KVPL), a Hayleys Plantations company, announced a historic achievement with its Triple Crown of W

Radisson Hotel Colombo serves as hospitality partner for Air Arabia’s FAM tour in SL

Radisson Hotel Colombo recently welcomed a group of leading influencers for Air Arabia on a familiarisation tour (FAM tour) of Sri Lanka.

CAL sets sights on trillion dollar frontier market expansion

Colombo-based Capital Alliance (CAL), a full-service frontier capital markets solutions provider, plans to expand into other frontier markets, aiming to operate in regions with a combined GDP of US$1-1.5 trillion within the next 3-5 years.

Concluding debt restructuring sooner than later critical for SL: Katsuki

Japan, Sri Lanka’s biggest bilateral lender after China, yesterday stressed the island nation must speed up in its debt restructuring efforts for its own betterment.

SL unit trust industry crosses key milestones, gains traction

Amidst the declining interest rates and entrance of new funds, Sri Lanka’s unit trust industry has continued to gain traction this year. The number of unit trust holders surpassed 100,000 and the total net asset value (NAV) crossed Rs.500 billion at end-April this year.

SriLankan Airlines notches Rs.1.12bn profit in nine months ended Dec. 2023

National carrier SriLankan Airlines has managed to move towards the positive territory, as it recorded a profit for the nine months ended December 31, 2023.

Anticipated strong rebound may reverse current declining trend in interest rates in 2H: First Capital Research

The anticipated strong rebound of the economy and upcoming elections could put pressure on the interest in reversing the current declining trend in the interest rates, in the second half of the year, according to First Capital Research (FCR). However, FCR in a recent report noted that the trigger events, which include the timely third tranche under the International Monetary Fund programme, timely completion of the external debt restructuring, an

Veteran urges unified tourism strategy in Sri Lanka

As Sri Lanka’s tourism sector is often the victim of ad hoc policies rolled out by the authorities, industry veteran Hiran Cooray called on the government to create a working relationship between all tourism-related ministries. Reason being, many times, decisions that impact tourism are made by non-tourism ministries. A recent example is the visa issuance fiasco. The agriculture, civil aviation, urban development, culture and art affairs, defen

Indices continue the positive momentum

The ASPI closed in green as a result of price gains in counters such as Ceylon Beverage Holdings, Hatton National Bank and LOLC Holdings with the turnover crossing Rs 1.2 Bn. Similar behavior was witnessed in the S&P SL20. High net worth and institutional investor participation were noted in John Keells Holdings, Nations Trust Bank and National Development Bank. Mixed interest was observed in Hatton National Bank, Dipped Products and Sunshine Hol

Auction yields edge up after 8 weeks

At the weekly T-bill auction held yesterday, the Central Bank fully accepted the total offered amount of Rs.235.0 billion, with the three-month and six-month bills oversubscribed amidst higher reception whilst the one-year bill was undersubscribed. Reversing the persistent downtick in auction yields, the weighted average yield rate of three months and one year saw an increase after eight weeks. Accordingly, the three-month WAYR closed at 8.70 p

CFA Society Sri Lanka to celebrate Capital Markets Excellence on June18

The annual CFA Society Sri Lanka Capital Market Awards is scheduled to be held on June 18 at the Cinnamon Grand, Colombo. A signature event in the CFA Society Sri Lanka calendar since its inception in 2012, CFA Society Sri Lanka Capital Market Awards is among the most sought-after accolades that recognizes and rewards excellence in the local capital markets. Held under the theme of ‘The Power of Public-Private Partnerships’, this year’s event wi

Air India appoints Hayleys as GSA

Air India has selected Hayleys as its General Sales Agent (GSA) for passenger sales in Sri Lanka. Leveraging the expertise, scale, and reliability of the Hayleys Group, the partnership will further enhance Air India’s presence in Sri Lanka to supportthe airline’s ongoing transformation and global expansion. “Hayleys is honoured to represent Air India in Sri Lanka. Together, we share a commitment to corporate responsibility and uphold similar val

Great Place to Work Sri Lanka to host Regional Conference 2024

The Great Place to Work For All Global Summit 2024 themed ‘Change Happens Here’, held in May in New Orleans, successfully convened over 1,600 attendees, including leaders from more than 500 companies, all dedicated to fostering Great Workplace culture. Through interactive brain dates and live podcasts along with engaging keynote and focus sessions, participants gained actionable strategies to enhance employee engagement and inclusivity. The event

SLT-Mobitel unveils easy payment plans for State sector pensioners

SLT-Mobitel together with the Department of Pensions announced the celebration of the 15th anniversary of Upahara, recognising state pensioners for their untiring dedication serving the nation, with special and attractive value-added device offers designed to provide them with peace of mind and ease of life. The Upahara Device offers strongly align with SLT-Mobitel’s commitment to supporting and valuing senior citizens byproviding them with acces

People’s Bank offers customers access to online CRIB reports

People’s Bank, announced a groundbreaking partnership with the Credit Information Bureau (CRIB) to introduce a hassle-free and efficient method for customers to register and request their individual Credit Reports (MyReport) and Credit Score (CRIB Score). MyReport is important for an individual or a company to have better understanding of the credit standing before applying for a loan. This essential and innovative service is now seamlessly integ

Heritance Kandalama named One of the Best Hotels by Condé Nast Traveller India

Heritance Kandalama has been named as one of the Best Hotels in Sri Lanka by Condé Nast Traveller India. Designed by the visionary architect Deshamanya Geoffrey Bawa, this 5-star eco-retreat embodies timeless elegance, seamlessly blending the man-made with the natural world. The gastronomic offerings at Heritance Kandalama take center stage, featuring an array of immersive and one-of-a-kind dining experiences. Among these, the renowned Cave Dinne