Browns becomes world’s top tea exporter via Lipton partnership

Lipton Teas and Infusions on Tuesday announced it has agreed terms of a partnership which will result in the transfer of its tea estates in Kenya, Rwanda, and Tanzania to Browns Investments alongside an agreement that all tea sold by Browns worldwide will be grown and harvested to a new set of standards covering quality, social and environmental protections. This long-term partnership will make Browns the world’s leading tea exporter - around 87

Khaled Nasser Al Ameri, UAE Ambassador to Sri Lanka met with the Board of Investment Chairman Dinesh Weerakkody

Khaled Nasser Al Ameri, UAE Ambassador to Sri Lanka met with the Board of Investment Chairman Dinesh Weerakkody and officials of both the BOI and Colombo Port City Economic Commission to discuss the current economic climate and investment opportunities in both in the Colombo Port City and on shore. BOI is collaborating with the UAE Ambassador to arrange a high level government and business delegation from the U

Government planning four-stage vehicle import resumption

Following discussions with vehicle importers, the government is focused on resuming vehicle imports in four stages, Finance State Minister Ranjith Siyambalapitiya said.

Emirates reaffirms strategic cooperation with SLTPB

Underscoring Emirates’ commitment to boost tourism inflows across its network, the airline has reaffirmed its strategic cooperation with Sri Lanka Tourism Promotion Bureau.

Browns becomes world’s top tea exporter with Lipton partnership

Sri Lanka’s Browns emerges as the world’s top tea exporter, following a partnership agreement with Lipton Teas and Infusions.

Gross official reserves surpass US$ 5bn mark

Sri Lanka’s gross official reserves have continued to increase through the end of April topping the US$ 5.0 billion level for the first time since December 2020 when the country was coming out of the second wave of the virus outbreak.

Cabinet nod to procure wind power from Adani for US$ 0.0826 per KW

The government yesterday said it will procure power from Adani Green Energy Limited wind power projects as it has decided to accept the last price of US$ 0.0826 ....

Sri Lanka’s paddy harvest to cross 5 MMTs next year: USDA

Sri Lanka’s paddy rice (un-milled) harvest output is projected to cross five million metric tons (MMT) next year after recording a partial recovery this year, according to the latest report published....

Economic uncertainty perception dragged EPF into negative territory: CBSL

The Central Bank yesterday attributed the negative Employees’ Provident Fund (EPF) net contribution witnessed last year to the public skepticism about the economy’s....

SLTPB to kick off much anticipated promotional blitz from May 25

Sri Lanka Tourism Promotion Bureau (SLTPB) is targeting to kick off the much anticipated 360 degree global public relation (PR) and digital campaigns from 25 May onwards....

HNB Operations Department achieves ISO 9001:2015 certification

Strengthening its commitment to service excellence, Sri Lanka’s leading private sector bank HNB PLC announced the successful achievement of the ISO 9001:2015 certification....

KPMG webinar to explore dividends’ tax, legal implications

In order to unlock the complexities surrounding the dividends and their tax and legal ramifications, KPMG Sri Lanka Academy has organised an exclusive webinar....

Inqbaytor receives Emirates Gateway Direct NDC API certification

Inqbaytor Technologies, a leading travel technology company, recently announced a groundbreaking achievement as the first travel platform in the country to be certified for Emirates Gateway....

People’s Bank-Hayleys Solar promote sustainable energy adoption

In an alignment geared towards promoting sustainable energy adoption, People’s Bank and Hayleys Solar, the renewable energy arm of Hayleys Fentons Limited, recently signed a memorandum...

Sri Lanka tourism:Quo vadis? – In search of an identity?

The last few months have seen tourism booming in Sri Lanka, with almost all hotels brimming with high occupancy. Although everything seems to be progressing well, over.....

Amana Bank partners Sri Lanka’s first-ever Climate Summit

In a bid to foster a climate-resilient economy, Amana Bank has partnered with the inaugural Code Red Sri Lanka Climate Summit 2024, as one of its sponsors. The summit....

Union Assurance-Singer partner for enhanced payment collection

Union Assurance, Sri Lanka’s premier Life Insurer, has entered into a strategic memorandum of understanding with Singer PLC, a leading retail company in the nation to be its....

Singer SL recognised as Strategic Alliance Partner at Sony’s Annual BPC

Celebrating a decade of fruitful collaboration, Singer, the exclusive distributor for Sony Electronics in Sri Lanka, was honoured as a Strategic Alliance Partner at Sony’s recently held Annual Business....

Fitch affirms Sierra Cables at ‘A+(lka)’; Outlook Stable

Fitch Ratings has affirmed Sri Lankan cable manufacturer Sierra Cables PLC’s National Long-Term Rating at ‘A+(lka)’. The Outlook is Stable. The affirmation....

Thin volumes ahead of bill auction

The secondary market saw slight buying interest during the early trading hours yesterday, largely on the 01.06.26 maturity, which recorded trades at 10.50 percent. However....

Appeal Court extends stay order on New Nawaloka Medical Centre’s asset sale

The Court of Appeal has dismissed the objections by Hatton National Bank (HNB) against a previous order preventing the bank from seizing assets belonging to New Nawaloka....

CEAT Kelani says it is not fined by Customs Department

CEAT Kelani International Tyres (Pvt.) Ltd has assured the customers, stakeholders and public that the company has no dispute over customs duties with the Customs Department....

ASPI edges down

The ASPI edged down as a result of price losses in counters such as Hatton National Bank, Sampath Bank and John Keells Holdings with the turnover crossing....

Cartoon of the Day 08-05-2024

Cartoon of the Day 08-05-2024

Colombo among first 9 destinations to join Emirates’ A350 network

Colombo will be among the first set of destinations to be served by Emirates’ A350 aircraft entering service in September 2024, the airline announced yesterday.

Concerns emerge on unauthorised players entering local lubricant sector

While Sri Lanka’s petroleum industry awaits the establishment of a new regulator, concerns are being raised about the potential for unauthorised players to enter the market, particularly in the lubricant sector.

A Hollow Rupee

Politics and economics are concepts that are fundamentally intertwined. Yet the unprecedented economic crisis of 2022 highlighted the complex challenges of aligning short-term political goals with long-term economic strategies. While the sharp appreciation of the Sri Lankan rupee in recent months has been roundly welcomed by most sectors of society as a positive signal, this optimism overlooks the nuanced factors influencing our currency’s streng

IFC Regional VP signals support for Sri Lanka’s reforms and growth agenda

Concluding a two-day visit, IFC’s Vice President for Asia Pacific, Riccardo Puliti, signaled IFC’s commitment to supporting Sri Lanka’s ongoing reforms and growth agenda, while emphasizing the importance of private sector-led development for inclusive economic growth. The visit served as an opportunity for Puliti to engage with key stakeholders, including meeting President Ranil Wickremasinghe, Minister of Power and Energy Kanchana Wijesekera, G

Janashakthi Group appoints Minette and Vishnu to Board

Janashakthi Group (JXG) has appointed Minette Perera and Vishnu Balachandran as Independent, Non-Executive Directors to the company’s director board. Minette Perera has a career as the former Group Finance Director of the MJF Group, where she played a pivotal role in managing finance functions across a vertically integrated tea operation. During her employment with the MJF Group, Minette was appointed a Director of the MJF Group of Companies, in

NDB Bank introduces country’s first wearable pay band

NDB Bank announced a groundbreaking leap in the realm of banking technology with the introduction of the country’s first wearable pay band, NDB WriztPay, in collaboration with VISA. This innovative offering redefines convenience and security in financial transactions, heralding a new era in Sri Lanka’s banking landscape. The NDB WriztPay Band, designed to seamlessly integrate into the lifestyles of our tech-savvy customers, provides unparalleled