The Four A’s Advertising Festival begins on May 30

The Four A’s Advertising Festival is set for May 30 and 31 at Taj Samudra Colombo. The two-day learning festival is designed to serve as a source of new ideas, innovation, and inspiration. Through engaging learning sessions, workshops & panel discussions, participants will have the opportunity to interact with top-tier professionals spanning the entire spectrum of creativity. The speakers for The Four A’s Advertising Festival include Ajay Vikram

Ransomware payments see 500% increase last year: Sophos

Sophos, a global leader of innovative security solutions that defeat cyberattacks, has released its annual “State of Ransomware 2024” survey report, which found that the average ransom payment has increased 500 percent in the last year. Organizations that paid the ransom reported an average payment of US$ 2 million, up from US$ 400,000 in 2023. However, ransoms are just one part of the cost. Excluding ransoms, the survey found the average cost o

Virtusa launches ‘Helio’ to help enterprises harness genAI

Virtusa Corporation announced the launch of Virtusa Helio, a new suite of platforms, accelerators, and consulting servicesthat empowers organizations to leverage genAI effectively in their digital transformation initiatives. Built with Virtusa’s Engineering First ethos at its core, Helio will help enterprises navigate their genAI journeys confidently, always with an end solution in mind that creates business value at scale. Virtusa’s own resear

CFASSL recognizes excellence in Financial Management at University of Jaffna

CFA Society Sri Lanka (CFASSL) recently acknowledged and celebrated excellence in the field of Financial Management at the University of Jaffna. Rajendiran Radhadevi was honoured with the CFA Society Sri Lanka- Gold Medal for the Most Outstanding Performance in the Degree of Bachelor of Business Administration Honours in Financial Management for the year 2021 while Gerard Rajan Angeline received the CFA Society Sri Lanka award for the Best Perfo

Chinese garment delegation explores business opportunities in Sri Lanka

A delegation of 30 members of China National Garment Association (CNGA), led by Executive Vice President of XIE QING and Ningbo Garment Association Vice president and Secretary General MAO YIHUA met the Chairman/ CEO, EDB, Executive Director, BOI, and members of JAAF recently. The CNGA is a leading industry association with over 1400 major members and covers most of the original apparel brands in China.The primary objective of this high-level del

SIASE switches and sockets enter local market with SLS certification

SIASE, a Chinese brand for switches and switched socket outlets commenced operations in Sri Lanka through its exclusive distributor Overseas Realty Trading Pvt Ltd. It has obtained Sri Lanka Standards Institution certification SLS 1000: Part1: 2021 for SIASE Brandswitches and SLS734: Part2:2017 for SIASE brand switched socket outlets. The certificates were issued after a detailed audit of the research and development and manufacturing facilities

HNB enters into fresh agreement with 3DH Building Solutions

HNB PLC has entered into a fresh agreement with 3DH Building Solutions to promote and offer financing solutions for FMT Generators and GLARIE elevators. Representatives from both organisations graced the occasion to formalize the partnership, with HNB Head of Retail, Kanchana Karunagama and Managing Director – 3DH Building Solutions, Hirantha Goonesekara signing the agreement, in the presence of other representatives at HNB Towers. “At HNB, we a

DFCC Bank unveils Annual Report for year 2023

DFCC Bank recently unveiled its Annual Report 2023, spotlighting the bank’s achievements against a backdrop of formidable challenges and exciting opportunities. Overcoming a challenging and dynamic economic environment, DFCC Bank emerged, posting a record-breaking financial year. These achievements were complemented and supported by the bank’s many sustainable initiatives in its drive to achieve carbon neutrality by 2030, reflected throughout it

Public notice from NSB

The National Savings Bank (NSB) claims that it has observed a misinterpretation on their bank amongst the public of a news item currently circulating pertaining to Sri Lanka Savings Bank (SLSB). NSB wishes clarify that SLSB is a fully owned subsidiary of NSB, and that the recent developments involve the proposed acquisition of SLSB with NSB, pursuant to a regulatory directive by the Central Bank of Sri Lanka (CBSL). Further, the information in c

Laugfs International wins AIRMAN Service Excellence Award

Laugfs International (Pvt) Ltd supplier of Japanese-made AIRMAN power products in Sri Lanka, recently received the AIRMAN Service Excellence Award for the 2nd consecutive year. Presented by AIRMAN Japan, the award underscores Laugfs International’s commitment to excellence in delivering unparalleled service and technical support to its diverse customers. The AIRMAN Service Excellence Award is presented subsequent to an extensive evaluation based

VRS scheme for NSB subsidiary employees gets Cabinet nod

The Cabinet green lighted the proposal to introduce a voluntary retirement scheme (VRS) for employees of Sri Lanka Savings Bank (SLSBL), a fully-owned subsidiary of National Savings Bank.

People’s Bank and EDB forge strategic alliance to boost exports

Sri Lanka Export Development Board (SLEDB) yesterday announced it entered into a strategic partnership with People’s Bank to boost the local export sector. The partnership....

ComBank sees PBT expand 148% YoY to Rs.16.7 bn in 1Q24

Commercial Bank of Ceylon PLC saw its total operating income for the first quarter (1Q24) grow by 38.20 percent to Rs. 34.947 billion. The Group made provisions of Rs. 3.436 billion....

NDB sees 1Q pre-tax profit expand 31% YoY to Rs.1.8 bn

NDB recorded a pre-tax profit of Rs. 1.8 billion for the three months ended 31 March 2024, an increase of 31 percent over the same period in 2023 (YoY). Total operating income....

Sampath Bank March profit up on lower impairments, new loans

Sampath Bank PLC reported higher bottom-line performance for the three months ended in March as the bank provided less provisions for possible bad loans as the economy....

Expolanka exit offer opens today

The exit offer for Expolanka opens today and will be on for 12 market days, ending on 3 June 4.30 p.m. In a filing to the Colombo Stock Exchange (CSE) this week, Expolanka....

Corporate sustainability as a catalyst for business success

In an era of heightened and ever-evolving enterprise competition, businesses globally are strategising cost-effective, eco-friendly, sustainable and inclusive solutions. The significance of sustainability....

PickMe launches ‘JumJum’ service in Nepal’s capital

PickMe has crossed digital borders and will take the ride-hailing market by storm with the launch of its latest technology partnership, JumJum (Let’s Go) in Nepal, a country where 78 percent....

Sadaharitha with UAE’s Alweena Perfumes to expand agarwood exports

Sadaharitha Group, the pioneering force in Sri Lanka’s commercial forestry industry, announced the expansion of its global operations by exporting agarwood-based products....

Bullish sentiment further drives down bond yields

The secondary market yield curve further declined as bullish sentiment continued to drive heavy buying momentum in the secondary market. Investor interest enticed across the board...

CSE and USAID hold issuer forum for SMEs in south

The Colombo Stock Exchange (CSE) and United States Agency for International Development (USAID) collaborated on a forum to provide small and medium-sized enterprises (SMEs) in southern....

Indices record losses

Indices closed in red as a result of price losses in counters such as LOLC Holdings, John Keells Holdings and Commercial Bank with the turnover crossing Rs. 3.3 bn. High net worth....

John Keells-Sysco LABS-Brandix partner for FastTrack internship

The FastTrack summer internship, introduced by the John Keells group, makes its return this year, in collaboration with Sysco LABS Sri Lanka and Brandix Lanka (Pvt.) Ltd, offering undergraduates....

Thinushka appointed as M Power Capital Securities Director

M Power Capital Securities announced the appointment of Thinushka Soysa as an Independent Non-Executive Director, effective May...

Siddhalepa extends ayurvedic wellness to United Arab Emirates

Globally acclaimed ayurveda-based wellness brand Siddhalepa expanded its footprint to the Middle East by venturing into the United Arab Emirates (UAE). Launched....

Union Assurance, #1 Transparent Life Insurer in Sri Lanka

Union Assurance, Sri Lanka’s premier life insurer, has been recognised as the #1 Life Insurance Company in the latest Transparency in Corporate Reporting Assessment 2023 (TRAC) published...

Alumex receives NCE’s Certificate of Ethical Trading

Alumex PLC, a subsidiary of Hayleys and a trailblazing aluminium manufacturer in Sri Lanka, was awarded with the prestigious Certificate of Ethical Trading by the National Chamber of Exporters...

FX Global Code to be rolled out by end 2024

In line with the objectives to foster a deeper and more liquid foreign exchange market and develop adequate systems for managing exchange rate risks, the Central Bank (CB) plans to implement the FX Global Code (FXGC) in the domestic forex market by the end of this year.

Central Bank advises businesses to grasp current exchange rate mechanism

The Central Bank emphasised the importance of businesses in Sri Lanka understanding the current exchange rate system.

CTC says drop in 1Q sales due to tax-led price increases

Monopoly cigarette player Ceylon Tobacco Company PLC (CTC) yesterday said that its sales volume for the first quarter ended on March 31, 2024 was lower in comparison to the same period last year, mainly due to the tax-led price increases, in line with the government’s revenue proposals.