UB Finance receives ‘BB(lka)’ rating by Fitch; Outlook Stable

Fitch Ratings last week affirmed UB Finance PLC’s (UBF) National Long-Term Rating at ‘BB(lka)’. The Outlook....

ComBank Digital goes trilingual to enhance inclusivity

ComBank Digital, Sri Lanka’s most-used digital banking platform, has significantly enhanced mass access by going trilingual....

Fitch assigns Asia Asset Finance’s proposed senior debt ‘A+(EXP)(lka)’ rating

Fitch Ratings has assigned Asia Asset Finance PLC’s (A+(lka)/Stable) proposed Sri Lankan rupee-denominated senior unsecured....

Tourist arrivals could drop below two million this year amidst Visa fiasco: Stakeholders

Tourism Industry veterans cautioned that heightened confusion over the new visa system, along with the abrupt increase in visa fees, could derail 2.3 million tourist arrival target set for the year. This could potentially reduce arrivals below 2 million, while service providers stand to gain $50 million in fees.

Sri Lankan rupee has become one of fastest growing currencies in the world: Siyambalapitiya

The Sri Lankan rupee has now become one of the fastest-growing currencies in the world, Finance State Minister Ranjith Siyambalapitiya said.

Minimum Room Rate to end by May 31

The highly debated Minimum Room Rate (MRR), which has the tourism industry divided, would be removed the end of this month, Tourism Minister Harin Fernando confirmed.

Harin backs doing away with visas altogether for tourists

As the Cabinet is currently considering extending free visa travel to tourists from 67 countries, Tourism Minister Harin Fernando opined that Sri Lanka should consider doing away with visa altogether for tourists.

Inaugural CMB Food Festival begins today

Green Path in Colombo will come alive today and tomorrow (4th and 5th), with the inaugural CMB Food Festival, presented by Coca-Cola. This new quarterly event, organized by HT Events, is designed to promote local entrepreneurship and enhance the tourism landscape of Colombo by showcasing its diverse culinary talents. The festival is a

Emirates offers Bulgari amenity kits for summer season

Emirates is offering First and Business Class customers a new collection of exclusive Bulgari amenity kits for the summer season. With a gradual introdu

SLT-Mobitel introduces ‘Snapchat Chill’ Social Combo Mobile Plan

SLT-Mobitel has introduced a first of its kind Snapchat Chill Social Combo Mobile Plan, specifically designed to empower the social media lovers to stay connected and share their moments by providing essential data and communication s

Colombo Tea Auction offering increases to 5.2 MnKgs this week

The overall offerings at the Colombo Tea Auction increased to 5.2 million kilogrammes, from the previous week’s 4.6 million kilogrammes. The Low Grown/L

Indices gain during the week

The ASPI closed in green as a result of price gains in counters such as Bukit Darah, Central Finance Company and National Development Bank with the turnover crossing Rs 2.4 Bn. Meanwhile, the S&P SL20 edged down. High net worth a

Secondary market active with moderate volumes

The secondary market continued to see active buying interest across the yield curve during yesterday’s session. Investor participation was largely centered on the shorter and the mid tenures of the yield curve. Thus, several trades were ent

Apple sales fall in nearly all countries

BBC: Apple sales have fallen in almost every market across the globe, according to the latest results from the tech giant. The company said that demand for its smartphones dropped by more than 10 percent in the first three months of this year, while overall s

LP gas prices drop amid rupee appreciation

As a result of the appreciation of the rupee and a reduction in the world market prices, the major domestic gas suppliers in the country have decided to decrease their retail prices, effective last night. This price reduc

Company that rebuilt Genoa bridge is offering to do same for Baltimore

CNN: The Italian company that helped rebuild a bridge that collapsed in Genoa in 2018 says it is ready to do the same in Baltimore. WeBuild Group said in a press release yesterday that it had sent a preliminary design and plans to the US officials for the recon

Medihelp Hospitals hosts Lifestyle Seminar on Prostate Cancer Prevention

Medihelp Hospitals in collaboration with Mount Elizabeth Singapore and IHH Patient Assistant Centre Sri Lanka Office, hosted a comprehensive lifestyle seminar aimed at educating the public on the prevention and prediction of prostate cancer.

KIST steps up to purchase surplus tomato harvest

Cargills’ KIST has stepped up once again to support farmers in need. KIST has purchased over 30 metric tons of surplus tomato on April 26th from local farmers in Gageyaya (Monaragala district), Welimada (Badulla district), and Wangiyakumbura (Badulla district). By doing so, the company ha

Thakral showcases DJI’s technological offerings

Thakral Group, the authorized distributor of DJI in Sri Lanka, unveiled “The Future of Possible” in Colombo recently. This exclusive

Samsung Sri Lanka secures top honour at LMD Awards

Samsung Sri Lanka became the Category Winner in the ‘Home Electronics’ category at the LMD Readers’ Most Loved Brands Awards 2024 recently. This accomplish

Laugfs gas prices reduced

Laugfs Gas PLC today announced a substantial reduction in the prices of its Laugfs-branded domestic liquefied petroleum gas (LPG), effective midnight.

Litro Gas prices reduced

The price of a 12.5 kg domestic Litro LP gas cylinder will reduced by Rs.175 from midnight today, Litro Gas said

SL could open up vehicle imports in 4Q upon debt restructuring completion

SL Banks’ Association Chief says country is ‘couple of months’ away from striking a deal with bondholders By Nishel Fernando

Sri Lanka sees exports to key markets improve

Sri Lanka’s total exports in March expanded by 9.5 percent Year-on-Year (YoY) to US$ 1.41 billion with positive growth seen in key markets. Data shared by the Ex

Seylan Bank doubles March profits on lower loan losses

Seylan Bank PLC more than doubled its profits in the three months ended in March 2024 as the company provided much less for possible bad loans as the economy improves while the borrower profiles strengthen with easing rates. The bank with asse

Ceylon Chamber of Commerce to host IORA Business Conclave 2024

The Ceylon Chamber of Commerce announced its appointment as the Chair of the Indian Ocean Rim Business Forum (IORBF) fo

CBSL identifies one more pyramid scheme

The Central Bank of Sri Lanka (CBSL) has identified one more entity named Windex Trading to have been promoting illegal pyramid schemes in the country. The latest notice bri

Top-level Chinese biz delegation in Colombo

A top-level Chinese business delegation, led by China Association of Small and Medium Commercial Enterprises (CASMCE) Secretary and President Ren Xinglei, met with Board of Investment (BOI) Chairman Dinesh Weerakkody and

The Pekoe Trail destination management organisation established

The Pekoe Trail Company (Guarantee) Limited is an innovative approach adopted by the Tourism Resilience Project to ensure the trail’s long-term sustainability and effective management. In April 2024, a collaborativ

Hayleys Solar completes Texlan Centre solar installation

Hayleys Solar, the renewable energy arm of Hayleys Fentons, has successfully completed an impressive 2.3MW capacity solar power installation for Texlan Centre (Pvt.) Ltd, a leading hosiery manufacturer and exporter in the country.