Govt. revenue in January surge 62% on economic turnaround, higher taxes

The revenue to the government, including the grants, rose by a staggering 61.8 percent in January 2024. This is a result of the government raking in billions of rupees out of people’s pockets to appease the International Monetary Fund’s revenue targets.

Singer 4Q performance reflects recovering consumer strength

Singer (Sri Lanka) PLC reported some turnaround performance in the quarter ended in March (4Q24) setting the company up for a continuous growth as the consumer demand....

Seylan Bank appoints Buwaneka Aluwihare as board Chairman

Seylan Bank PLC announced the appointment of Justice Buwaneka Aluwihare, PC, who is set to assume the role of Chairman of the Board, effective from 29 May 2024. The transition....

Sri Lanka gears up for Vesak

A small business located in Dematagoda stitching Buddhist flags to cater to the demand for the product this week as Sri Lanka....

Softlogic Life grows 20% in 1Q

Softlogic Life posted a Gross Written Premium (GWP) of Rs. 7.2 billion during the first three months ending 31st March (1QFY24), and a top-line growth of 20 percent compared...

Prime lending very close to policy rate corridor

The average prime lending rate, the rate at which banks lend to their big corporate clients for a very short period, continued its weeks-long descent and ended at 9.65 percent, very close...

Emirates group records best ever financial performance with US $ 5.1bn profit

The Emirates group reported the best ever financial performance for the 2023/2024 financial year, with a record profit of US $ 5.1 billion, up 71 percent from last year, a record revenue...

Rohan to speak at UNCTAD Global Supply Chain Forum

The United Nations Conference on Trade and Development (UNCTAD) and government of Barbados will organise the first Global Supply Chain Forum in Barbados from....

Malaysia’s MMAG, Supreme Global ready for SriLankan Airlines acquisition

MMAG Holdings Bhd’s wholly-owned subsidiary MMAG Aviation Consortium Sdn Bhd (MAC) has entered into a partnership with Supreme Global Holdings (Private) Limited, to collaborate....

NES stuck in a NEST

At a time at every forum it is mentioned that exports are the way forward to cure Sri Lanka’s economic downfall, National Export Strategy (NES) of Sri Lanka 2018-2022 was developed in alliance....

Port City Colombo reiterates ability to allow companies to upscale businesses

Port City Colombo reiterated its capacity in providing opportunities to a diversity of companies to upscale their businesses within the property development and key thrust sectors....

Stakeholders urge SLPA to ensure minimum safety standards at Colombo Port

Pointing at safety standards recommended by Singapore’s Transport Safety Investigation Bureau (TSIB), Sri Lanka’s shipping industry stakeholders urge the Sri Lanka Port Authority...

CIPM Great HR Debate, National HR Conference in June

CIPM Sri Lanka, the nation’s leader in human resource management, will conduct the grand finale of the Great HR Debate 2024, the flagship corporate debating challenge, alongside....

Dalada Maligawa-People’s Bank launch Buddhist Welfare Scholarships Fund

Sri Dalada Maligawa, also known as the Temple of the Sacred Tooth Relic, in partnership with People’s Bank’s CSR brand ‘Mahajana Mehewara’, has launched the Buddhist Welfare Scholarships....

AMW introduces 2024 Nissan Urvan NV350

The Cabinet’s recent decision to grant permits for importing passenger transport vehicles under the Sri Lanka Tourism Development Authority marks a significant step forward for the....

CINEC’s Prof. Edirisinghe conferred with DMU Chair Professorship

CINEC Campus Management and Social Sciences Faculty Dean Prof. Lalith Edirisinghe has been conferred upon with a Chair Professorship by the Dalian Maritime University (DMU)...

Fitch assigns Seylan Bank Basel III debentures National Long-Term Rating of ‘BBB(EXP)(lka)

Fitch Ratings assigned Seylan Bank PLC’s (A-(lka)/Stable) proposed Sri Lankan rupee-denominated, Basel III-compliant subordinated debentures of up to Rs.10 billion an expected National...

NDB Bank supports Sri Lanka Climate Summit

NDB Bank reaffirms its commitment to sustainability by actively participating as a cosponsor in the inaugural Sri Lanka Climate Summit organised by the Ceylon Chamber of Commerce...

U.S. Embassy Colombo to host Indo-Pacific Business Forum satellite event in Sri Lanka

The U.S. Embassy in Colombo is set to host a satellite event of the Indo-Pacific Business Forum (IPBF), under the theme ‘Driving Sustainable Development in the Ports Sector....

SL welcomes over 46,000 tourists from May 1 - 12

Sri Lanka welcomed over 46,000 international tourists for the first 12 days of May, a drop in momentum due to the start of the off peak season.

IMF commends SL’s progress achieved thus far

The International Monetary Fund (IMF) this week commended the progress achieved by Sri Lanka thus far in rolling out the economic reforms, the majority of which have been rather painful to the general public.

CEB records Rs. 88.3 bn profits in 1Q24

State run Ceylon Electricity Board (CEB) for the first quarter ended 31 March (1Q24) has recorded a profit of Rs. 88.3 billion, which is a 349.8 percent change when compared with the Rs. 35.3 billion loss recorded in the corresponding period in 2023.

Colombo tea auction sees improved quantities this week

The Colombo Tea Auction saw 5.5 million Kgs offered this week, which was met with good demand.

Eleventh edition of ‘Sancharaka Udawa’ kicks off

Sancharaka Udawa 2024, a mega travel and tourism event, kicked off at the BMICH yesterday. The event, held over two days from 17 to 18 May, brought together Sri Lanka’s tourism industry stakeholders on to one platform.

China pours billions into crisis-hit property market

Chinese authorities have unveiled their most significant steps yet to address the crisis that has been dragging on the country’s property sector in recent years.

PhonePe - Lankapay’s partnership to help fetch US$ 1.1 bn from Indian tourists

The partnership between India’s PhonePe and Lankapay enabling Unified Payments Interface (UPI) payments in Sri Lanka is set to earn US$1.1 billion from Indian tourists this year.

Musk pushes plan to power Tesla’s AI ambitions

REUTERS – Tesla is pushing ahead with plans to power the global development of its self-driving system with data from China that could be processed within the country, part of a strategic shift by Elon Musk, according to people with knowledge of the work.

Secondary market entices dull trading as selling pressure emerges

With the persistent selling interest enticed during the past two trading weeks eased off during yesterday’s session, as selling interest resurfaced on the secondary market.

ASPI loses 1.6% during the week

The ASPI closed in green as a result of price gains in counters such as C T Holdings, Dipped Products and John Keells Holdings with the turnover crossing Rs. 1.2 bn.

Oceanpick receives ASC Tropical Marine finfish certification

Sri Lanka’s first and South Asia’s largest oceanic finfish farm, ‘Oceanpick’ has become the only farm in the Indian subcontinent to earn the Aquaculture Stewardship Council (ASC) Tropical Marine fin-fish certification for offshore farming.