Auction yields continue to decline for 8th consecutive week

The secondary market witnessed buying sentiment throughout the day, largely centred on the shorter and belly end of the curve. Thus, trades were observed on the 2026 maturity, with 15.05.26, 01.06.26, 01.08.26 and 15.12.26 trading between 9.93 percent and 9.70 percent. Furthermore, a steep decline in yields was also observed at the Rs.160.0 billion Treasury bill auction held yesterday, with yields dropping by more than

Uber releases Lost and Found Index Sri Lanka 2024

Uber, the country’s most loved ride-hailing app, released the 2024 edition of its highly anticipated Lost and Found Index, shedding light on the most commonly forgotten items in Ubers across the island nation. From perfumes to a sarong, medicine to soap, to baby shoes and Jordans, Sri Lankans really outdid themselves this year at leaving behind their personal belongings. Backed by data trends, Uber’s Lost and Found Index aims to educate riders i

Kingslake’s tech innovation elevates Modern Pack Lanka

Leading the charge in digitising Sri Lanka’s packaging industry, Modern Pack Lanka (Pvt.) Ltd achieved a milestone in its digital transformation with the implementation of the Infor Syteline ERP solution by Kingslake, Sri Lanka’s manufacturing solutions expert. Modern Pack Lanka CEO Lahiru Wijeratne highlighted, “While the last three years posed multiple uncertainties for local companies, we were able to excel by implementing a lean culture with

Hatton National Bank wins Asian Banker Best Retail Bank in Sri Lanka Award 2024

Hatton National Bank PLC (HNB) celebrated a powerful milestone in its journey to the pinnacle of the Sri Lankan banking industry, after collecting the prized award for Best Retail Bank in Sri Lanka for the 14th year at Asian Banker Global Excellence in Retail Financial Services Awards 2024. “For generations, HNB has served as a partner in progress to all Sri Lankans, continually evolving to integrate cutting-edge technology and best practices.

National Sustainable Tourism Certification Scheme awarded to 100 tourism SMEs

The National Sustainable Tourism Certification Scheme (NSTCS), a process that recognises and promotes destinations that are committed to environmental, social and economic sustainability in Sri Lanka, was awarded to over 100 small and medium enterprises (SMEs) in the tourism sector yesterday. In line with the overall strategy of the Sri Lanka Tourism Development Authority (SLTDA) and in partnership with the United Nations Development Programme (U

Pan Asia Bank and National Chamber to amplify SME development

Pan Asia Banking Corporation PLC and the National Chamber of Commerce of Sri Lanka (NCCSL) announced a partnership aimed at fostering the growth and development of small and medium enterprises (SMEs) across the country. This collaboration emphasises the commitment of both institutions to support and enhance the SME sector and recognising their importance. Pan Asia Bank and the NCCSL are dedicated to supporting the SME sector by providing targete

Allianz Lanka shines at Great Manager Awards

Allianz Lanka, one of Sri Lanka’s premier insurers and a member of the global Allianz SE Group, recently received a range of awards and accolades at Great Manager Awards 2023. In total, nine team members from Allianz Lanka received awards this year, marking the sixth consecutive year that Allianz Lanka has been recognised as a Company with Great Managers, with 37 staff members having been recognised over the years. Notably, a remarkable 30 percen

Mastercard-LankaPay strengthen financial services sector cybersecurity infrastructure

Mastercard has partnered with LankaPay, Sri Lanka’s national payment network, to further strengthen the cybersecurity infrastructure of the country’s financial services sector via the Financial Sector Computer Security Incident Response Team (FinCSIRT). LankaPay established FinCSIRT in 2014 to safeguard the financial services sector from potential cybersecurity threats through a combined effort by the Central Bank of Sri Lanka, Sri Lanka Banks’

Central Bank stays pat on rates

As widely expected, the Central Bank left its key policy rates unchanged at the policy meeting held this week.

National Audit Office takes charge of Rs. 400 bn Samurdhi banking system

As a part of the government’s policy decision to regularising Sri Lanka’s Samurdhi banking system, the government has decided to entrust the auditing of the Samurdhi Community Based Banks and Samurdhi Community Based Banking Societies to the National Audit Office (NDO).

EDB launches Creative Sri Lanka 2030 project

The Sri Lanka Export Development Board (EDB), in collaboration with the Institute for Future Creations (TIFC) and other relevant stakeholders, including the London College of Fashion (UAL) and Chamber of Ethical Lifestyle Enterprises (CELE)

WIS’ Suneth recognised at 45 Under 45 Leadership Excellence Awards

WIS Director Suneth Silva has been recognised as one of the winners in 45 Under 45 Leadership Excellence and Emerging Leaders Awards 2024, organised by the Global CEO Forum in Sri Lanka. Silva’s award undersco

CTTA urges govt. to work on a sustainable wage model for plantation sector

The Colombo Tea Traders Association (CTTA) this week urged the government to work on a sustainable wage model for the plantation sector through consultation, compromise and arrive at a consensus with the entire value chain.

Driving growth through listings and diversifying revenue streams at CSE

Colombo Stock Exchange (CSE) Commercial Division Senior Vice President Punyamali Saparamadu provided a detailed overview on the strategies adopted by the CSE to stimulate growth and broaden its revenue sources. Her insights also highlight the new product portfolio as well as issuer relations initiatives of the CSE.

Ambeon Holdings posts Rs2.8bn PAT for FY 2023/2024

Ambeon Holdings PLC, a diversified conglomerate reputed for its market dominance in the areas of financial services, real estate, technology and strategic investments, recorded a stellar performance for the financial year (FY) 2023/2024 a

To strengthen cooperation in trade and investment

To strengthen cooperation in trade and investment, a delegation from the China Council for the Promotion of International Trade (CCPIT) from Fujian Province met with Board of Investment (BOI) Chairman Dinesh Weerakkody and the officials of

ACCA Sri Lanka Member Network Panel gets new Chairman

At the recently concluded Annual General Meeting of ACCA Sri Lanka, Chaaminda Kumarasiri was appointed as Chairman of the Member Network Panel for the term 2024/2026. In his new role as Chairman of the Member Network Panel of ACCA Sri Lanka, Kumarasiri is poised to lead initiatives that promote n

Seylan Bank celebrates Lean Six Sigma Yellow and Green Belt accreditation

Seylan Bank announced the accreditation of nine Lean Six Sigma Yellow Belts and seven Lean Six Sigma Green Belts, marking a significant milestone in its commitment to operational excellence and continuous improvement. The certification ceremony, held r

ASPI closes in red

Indices closed in red as a result of price losses in counters such as Hatton National Bank, John Keells Holdings and Commerci

CBSL maintains monetary policy stance

The CBSL maintained its monetary policy stance at the 3rd meeting for the year, maintaining the Standing Deposit Facility Rate (SDFR) a

Aitken Spence records Rs. 4.8 bn PBT with triple digit growth in 4Q

Aitken Spence PLC has achieved robust fourth-quarter results, significantly contributing to an improved financial performance for the 2023/2024 fiscal year. The Group reported a strong PBT of Rs. 4.8 billion with a growth of 412 percent. During 4Q, the G

CDB ends FY24 with PAT expanding 55% YoY

Citizens Development Business Finance PLC (CDB), the fourth largest non-bank financial institution in Sri Lanka, rebounded in th

CBSL keeps policy interest rates unchanged

The Monetary Policy Board of the Central Bank of Sri Lanka has decided to maintain the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) at their current levels of 8.50 percent and 9.50 percent, respectively.

LankaGPT to launch Sri Lanka’s first Sinhala and Tamil AI GPT platform

LankaGPT Technologies is gearing up to launch Sri Lanka’s first-ever Sinhala and Tamil AI Generative Pre-trained Transformer (GPT) by July 2024.

Industry fears wage hike impact on Ceylon Tea brand

The tea industry veterans warned that the Ceylon Tea brand would face irreparable damage in international markets, leading to both decline in auction prices and global market share, if the government forced the plantation companies, including the smallholder sector, to implement the unprecedented 70 percent minimum wage hike arbitrarily.

Arbitrary move to set wages stark violation of IMF agreement terms: PA

The Planters Association of Ceylon (PA) claimed that the government’s current approach in attempting to coercively....

Consumer seen coming back to stores as disposable incomes improve

The consumer was seen loosening his purse strings as of late, as the consumer-related companies reported stronger....

CEB divests LTL shares to West Coast Power

The Ceylon Electricity Board (CEB) has partly settled the dues for energy purchases from West Coast Power (Pvt.) Ltd by divesting a 28 percent stake of its shares in LTL Holdings (Pvt.) Ltd to the company.

Asoka Pieris new Cargills Bank Chairman

The board of directors of Cargills Bank PLC yesterday approved the appointment of Asoka Pieris as Chairman, with effect ....

Week commences in red

Indices closed in red as a result of price losses in counters such as LOLC Holdings, Commercial Bank and Hatton National Bank.....