Nestlé with Commercial Bank to drive sustainable dairy farming

Nestlé Lanka and Commercial Bank of Ceylon partnered to launch an initiative to support dairy farmers with concessionary....

Technology Ministry collaborates with Mastercard for DigiEcon Summit

The Technology Ministry has collaborated with Mastercard for DigiEcon Global Investment Summit 2024, which is aimed at catalysing....

DFCC Bank customers experience John Keells Properties’ Viman Ja-Ela model apartment

John Keells Properties further strengthened its partnership with DFCC Bank by inviting the bank’s valued customers....

Tourism earnings strengthen further despite March low levels

Earnings from tourism displayed continued strengthening despite some softening from March. Arrivals eased last month but the momentum persists, projecting robust earnings from the trade which once saw a prolonged decline due to repeated crises from 2019 onwards through 2022.

Targeted stimulus an option to push economic growth: SLBA Chief

Sri Lanka may need to consider a targeted stimulus package to boost growth in productivity sectors upon completion of the on-going debt restructuring exercise, Sri Lanka Banks’ Association Chief said.

Colombo Tea Auction offering drops to 4.9 MnKgs this week

The Colombo Tea Auction offering recorded a decline significantly, totalling 4.9 million kilogrammes. There was improved demand and a dearer trend in prices for most teas on offer, perhaps triggered by the lower volume on offer against the backdrop of urgent shipments, Forbes and Walker Tea Brokers said.

SL to see an increase in automobile assembly plants

Sri Lanka will see the addition of automobile assembly plants, as four are set to begin operations within the next three months and another 11 have been registered by the Industries Ministry.

Industrial Development Board and Ceylon Federation of MSMEs sign MoU

The Ceylon Federation of Micro, Small and Medium Enterprises (MSMEs) and Industrial Development Board (IDB) signed their first memorandum of understanding (MoU) at the Katubedda IDB office recently. The public-private partnership is aimed at actualising the export-oriented economy, according to the federation. “We are extremely happy to collaborate with the private sector and we believe they can do a lot. Industrial development is the only way

CB governor clarifies independence claim amid Parliament scrutiny

In the wake of the Central Bank officials being summoned for parliamentary questioning over its recent assertion of independence, the Central Bank governor took to clarify the critical role of its sovereignty to maintain the country’s hard-won macroeconomic stability. Speaking at a recent press meet, Central Bank Governor Dr. Nandalal Weerasinghe clarified that while the Central Bank is assigned with two primary responsibilities: monetary policy

Tourist arrivals cross 800,000 mark in May

The tourist arrivals to Sri Lanka crossed the 800,000 mark in May, which is two months earlier than 2023 in achieving the milestone.

UK exits recession with fastest growth in two years

BBC: Stronger than expected growth at the start of the year saw the UK emerge from recession. The economy grew by 0.6 percent between January and March, the fastest rate for two years, official figures showed. The UK fell into recession at the end of last year after shrinking for two three-month periods in a row. Prime Minister Rishi Sunak said the economy had “turned a corner” but Labour said this was no time for a “victory lap”. On Thursday, th

ComBank ranked as Most Loved Bank brand in Sri Lanka in 2024

Commercial Bank of Ceylon has been voted as Sri Lanka’s Most Loved Bank brand and the second Most Loved brand in the country overall in the service sector in 2024 by the leading business magazine LMD. These titles are based on the findings of an online survey by LMD’s research partner PepperCube Consultants. Readers of LMD from the Western, Southern, Central, North-Western and Northern provinces participated in the survey and the Most Loved brand

ASPI gains 0.9% during the week

Indices closed in green as a result of price gains in counters such as Commercial Bank, National Development Bank and John Keells Holdings with the turnover crossing Rs 2.5 Bn. High net worth and institutional investor participation was noted in Hayleys, John Keells Holdings and Sampath Bank. Mixed interest was observed in Royal Ceramics, National Development Bank and Nations Trust Bank whilst retail interest was noted in Browns Investments, LOLC

Yield curve nudges down amidst heavy buying appetite

The secondary market yield curve nudged low broadly across all maturities, as buying interest emerged strongly ahead of the T-bond auction scheduled on May 13. Amidst active investor interest, on the short end, 15.12.2026 traded between 10.60 percent and 10.50 percent whilst 01.05.2027 and 15.09.2027 closed transactions between 10.90 percent-10.75 percent.

AIA Insurance launches ‘Suwa Walan’ to drive breast cancer awareness

AIA Insurance has launched an innovative physical and digital campaign named ‘AIA Suwa Walan’, to drive education and awareness about breast cancer among Sri Lankan women. Breast cancer is one of the most common forms of cancer diagnosed in women globally. In Sri Lanka alone, it accounts for 27 percent of cancers in women, with 14 new cases reported daily. However, it is easily treatable and curable, if detected early. However, many Sri Lankan

Feelo launches on iOS and Andriod with promotions of up to 70%

Feelo announced its launch on iOS and Android. Now available for download, the app provides easy access to an array of services and time-limited promotions of up to 70 percemt off, ensuring that premium experiences are just a tap away. Committed to continually enhancing user satisfaction, Feelo offers unbeatable value through substantial price reductions on selected services. These promotions are refreshed frequently to ensure the best deals are

WIS inaugurates new wing of Colombo office to expand Sri Lankan operations

WIS, a Sri Lankan company that provides financial solutions in the United Kingdom, has expanded its Sri Lanka office by adding a new wing recently, laying the platform for the company to increase its capacity in the coming months. The expansion of the office is part of the WIS’ plan to boost its operations and grow its staff in Colombo during 2024 to keep up with increasing demand for new outsourcing opportunities and an uptick in UK-based compan

Minsara Bookstore opens new branch in Boralesgamuwa

Minsara Bookstore has spread its wings further by opening a new, cutting-edge branch in Boralesgamuwa. It is part of Minsara Publications (Pvt) Ltd, which has been serving to readers since 2007. Their other branches are located in Gampaha, Negombo, Kadawatha, Kuliyapitiya, and Kalutara. Minsara is popular for its book exchange system. Here’s how it works: buy a book, read it, within 14 days can exchange for a new one. You’ll get the new book f

People’s Insurance holds Achievers Night to honour employee contributions

People’s Insurance PLC recently hosted the Achievers Night 2024. The event served as a platform to honour and applaud the exceptional contributions and unwavering dedication of its employees over the preceding year. Under the adept stewardship of Chairman Isuru Balapatabendi and the CEO Jeevani Kariyawasam, People’s Insurance PLC has consistently maintained its position as a leading force in the realm of general insurance. Chairman Balapatabend

Rani Sandalwood tributes loyal consumers with gold sovereigns

The Swadeshi Industrial Works PLC has launched yet another promotion for the loyal consumers of Rani Sandalwood soap with weekly offer of 03 nos. 22 Carat gold sovereigns for 06 weeks. Consumers who Post or WhatsApp (077 0089716) or Inbox Rani Sandalwood face book pagewith two empty cartons of Rani Sandalwood Soap with their name, national identity card number and telephone number to ‘Rani Sadun Ran Rajiniyan’ P.O. Box 04, Kandana are eligible to

Japan’s Foreign Minister visits Vijitha Yapa Bookshop

Japan’s Foreign Minister Yoko Kamikawa visited the Vijitha Yapa Bookshop at Flower Road (Pittala Handiya) recently. Vijitha Yapa Bookshop is a publisher of books promoting the Japanese language. The Foreign Minister and the Japanese Ambassador were particularly interested in books on Sri Lanka and the books for children. The Foreign Minister was given a gift of the book ‘The Complete Illustrated History of Sri Lanka’ by Sri Lankan born author D

Home Lands Group announces launch of latest luxury apartment project

Home Lands Group of Companies announced the launch of Waterdale Residencies, the latest luxury flagship apartment project bordering Colombo 07. Located facing the Tickle Road as a premier high-rise apartment tower, Waterdale Residencies comprises of 26 floors with two exclusive modern amenity floors, 204 apartment units including 2 & 3 bedroom super luxury apartments, penthouses and duplex units, ushering in a new era of unparalleled luxury, con

Central Bank joins chorus urging need to uphold reform momentum

Sri Lanka is facing mounting pressure to maintain its current reform momentum, as experts continue to warn that any deviation from the path could potentially derail the country’s progress and plunge it back into crisis.

Dialog reports underwhelming March performance as fixed telephony revenue slump

Dialog Axiata PLC saw its revenue languish during the first three months of the year as fixed telephony and broadband operations performed weaker while the mobile and television services too failed to impress much.

Kaspersky detects 15 million incidents on Sri Lankan computers in 2023

Kaspersky yesterday shared that in 2023, its products detected 15 million local incidents on the computers of Kaspersky Security Network participants in Sri Lanka.

Hikkaduwa Beach Rights Issue oversubscribed

The Rights Issue of Hikkaduwa Beach Resort PLC, calling for subscription for 257,765, 177 shares to raise Rs. 902 million, has been oversubscribed.

SEC approves Accredited Scholars for Islamic capital market product certification

The Securities and Exchange Commission of Sri Lanka (SEC) yesterday announced the approval of a list of Accredited Shariah Scholars as “Supplementary Service Providers”.

Fitch affirms SriLankan Airlines’ Government-Guaranteed Bonds at ‘C’

Fitch Ratings yesterday announced it has affirmed the rating on SriLankan Airlines Government-Guaranteed bonds at ‘C’.

Digitised maritime trade adoption Logistics sector concerned about delaying tactics

The logistics sector has raised concerns over delaying tactics, as that could hinder the full adoption of the ASYCUDA World and ASYHU8S System. These systems aim to transition from cumbersome, paper-based processes to streamlin

Yields on downtrend amidst sustained buying momentum

The secondary market yield curve budged slightly low on the belly yesterday, as bullish sentiment continued to dominate. Amidst moderate volumes, liquid maturities 2026, 2027 and 2028 experienced trades during the day. Accordingly, 15