Vast majority of SL’s development projects failed to achieve objectives: FinMin

A vast majority of the development projects in Sri Lanka failed to achieve their objectives and ultimately have become a major source of the economic crisis that erupted in 2022.

ASPI loses after seven consecutive days of gains

The ASPI edged down as a result of price losses in counters such as Richard Pieris & Company, DFCC Bank and Commercial Bank with the turnover crossing Rs. 1.8 Bn. A similar behaviour was witnessed in the S&P SL20.

Secondary market on a standstill

The secondary market witnessed a dreary session during the day as the market experienced a standstill on the back of very thin volumes.

Colombo Tea Traders’ Association celebrates 130th historic AGM

The Colombo Tea Traders’ Association (CTTA), the apex private-sector body representing Sri Lanka’s tea trade, marked its 130th Annual General Meeting at the Shangri La on October 25.

NDB Bank wins award for Innovation at NBQSA 2024

NDB Bank announced its recent achievement at the National Best Quality Software Awards (NBQSA) 2024, where its pioneering platform, ‘TradeLink’ received national recognition for innovation in digital banking solutions.

LOLC Al-Falaah hits Rs. 2bn Wadi’ah portfolio

LOLC Al-Falaah has reached an impressive milestone. It has become the first Non-Banking Financial Institution (NBFI) in the country to launch the ‘Wadi’ah Gold Storage Facility,’ offering alternative features to conventional gold loan products,

Sri Lanka – Nordic Business Council holds AGM

Shaameel Mohideen, Director/CEO of Spillburg Holdings (Pvt) Ltd was appointed as the President of the Sri Lanka – Nordic Business Council (SLNBC) for the period 2024/2025 at the 23rd Annual General Meeting held recently at Cinnamon Grand Hotel.

DFCC Bank and Prime Land Residencies join forces for exclusive home loan solutions

DFCC Bank has forged a strategic alliance with Prime Land Residencies PLC, presenting a unique opportunity for aspiring homeowners to secure a luxurious apartment at “The Palace” in Gampaha.

People’s Bank crowned Sri Lanka’s Best Digital Bank by Euromoney

People’s Bank announced its recognition as Sri Lanka’s Best Digital Bank at the Euromoney Awards for Excellence 2024.

CIPM partners Vavuniya University for 5th Research Conference on Business Studies

CIPM Sri Lanka was a conference partner at the recently concluded 5th Research Conference on Business Studies (RCBS) 2024 organized by the Faculty of Business Studies of the University of Vavuniya.

AuthorizedHQ opens headquarters in Colombo

AuthorizedHQ (AHQ), a value-added distributor for IT products, recently announced the opening of their new headquarters.

Artslab Creatives shines at SLIM Digis 2.4 with Gold and Silver

Artslab Creatives earned two significant accolades at the prestigious SLIM Digis 2.4 Awards, clinching Gold for Best CSR, Purpose-Driven Digital Marketing Campaign with EWIS (Colombo) Limited, and Silver for Best Performance Marketing Campaign with Panthera Styles.

Signature allies with Sri Lanka Cricket as ‘Official Formal and Casual Clothing Partner’

Menswear brand ‘Signature’ has been appointed as the Official Formal and Casual Clothing Partner for Sri Lanka Cricket (SLC) from 2024 to 2027.

Marketrix revolutionizes In-App product support with AI technology

Marketrix AI is transforming how companies support their customers with its unique in-app product support solution.

Hutch offers value plans tailored to every segment

Mobile network provider Hutch offers a range of innovative value plans designed to meet the needs of Sri Lankans across all segments.

EU Ambassador meets new BOI Chief to discuss economic ties

The European Union (EU) Ambassador to Sri Lanka, Carmen Moreno recently held discussions with the newly appointed Chairman of the Board of Investment (BOI) Arjuna Herath along with BOI Director General Renuka M. Weerakone.

SL well-positioned to attract 2.9 mn tourists

Following the expected under-performance in the tourism sector this year, Sri Lanka’s tourism is poised to reach new heights with tourist arrivals projected to reach 2.9 million generating US$ 5.4 billion income.

Entrepreneurial boom continues in SL with 14.37% YoY rise in 3Q24 new biz registrations

The rising trend of private businesses registered in Sri Lanka continues its positive trajectory, with new company registrations in the third quarter of 2024 (3Q24) recording a 14.37 percent year-on-year (YoY) increase compared to the same period in 2023.

Transdigm Group relocates Chinese operations to Sri Lanka with US$ 8.5mn investment

Sri Lanka’s engineering and manufacturing sector is set to witness a significant boost with the Transdigm Group, a leading American aerospace company announcing the complete relocation of its Chinese operations to Sri Lanka.

Teejay closes first half charting strong course for the future

Teejay Group, Sri Lanka’s first multinational textile manufacturer, recorded a Profit after Tax of Rs. 0.9 billion for the first half of the financial year ending 30th September2024.

Tourist arrivals rebound with Russian boost

Sri Lanka’s tourist arrivals in October saw a notable recovery, returning to double-digit growth due to a last-minute surge in Russian visitors, even as several countries issued security warnings for the island nation.

Vella Group announces establishment of Corporate Group Structure

The Vella Group of Companies marked its official launch as a corporate entity at the Ravana Pool Club in Ella, one of its flagship properties.

My Emirates Pass allows unlocking of incredible offers in Dubai this winter

Emirates has announced the return of its popular My Emirates Pass, allowing passengers to enjoy exclusive offers at hundreds of locations in Dubai and the UAE.

Rashmi Paranavitane takes over CFA Society Sri Lanka reins

CFA Society Sri Lanka (CFASSL), part of the global network of CFA Institute member societies leading the investment profession across 160 countries, announced the appointment of Rashmi Peiris Paranavitane, CFA, as its 11th President, following the Annual General Meeting held in Colombo.

Harvard University honours Kandeban Balendran with “Outstanding Volunteer Leadership Award”

Kandeban Balendran has been awarded the Outstanding Volunteer Leadership Award—one of the highest honors presented by the Harvard Alumni Association (HAA) of Harvard University.

IHH Patient Assistance Centre Sri Lanka partners with Fairfirst Insurance

IHH Patient Assistance Centre Sri Lanka, part of the global network of IHH Healthcare Singapore, has announced a strategic partnership with Fairfirst Worldwide HealthCare Insurance to expand access to advanced healthcare solutions for Sri Lankan patients.

Amana Bank’s risk management performance recognised at ICC Emerging Asia Banking Awards

Amana Bank was honoured with Best Performance on Risk Management at the 2nd ICC Emerging Asia Banking Awards 2024, organised by the Indian Chamber of Commerce (ICC), to recognise the outstanding performance in the banking domain across the South-Asian region.

Standard Chartered appoints Harini Jayaweera as Chief Compliance Officer

Standard Chartered has appointed Harini Jayaweera as Chief Compliance Officer in Sri Lanka, effective October 21, 2024.

Three Taru Villas Properties Join Prestigious Small Luxury Hotels of The World™

Taru Villas, Sri Lanka’s premier luxury hospitality brand, is proud to announce that three of its properties: Taru Villas Maia - Habarana, Taru Villas The Long House - Bentota, and the newest addition, Taru Villas Villu - Wilpattu, have joined the exclusive Small Luxury Hotels of The World™ (SLH). This recognition affirms Taru Villas’ commitment to providing unparalleled, boutique luxury experiences in Sri Lanka.

Assetline Finance join hands with Global Impact Investment Manager BlueOrchard in empowering women entrepreneurs

Assetline Finance has been playing a substantial role in bridging the gap between female entrepreneurs and financial inaccessibility of rural women in Sri Lanka.