Seylan Bank opens two new libraries

Seylan Bank continues its long-standing commitment to empower education across Sri Lanka with the opening of the 255th and 256th Seylan Pahasara Libraries in Kurunegala recently.

Forty-ninth ‘Fadna Arunella’ held in Kesbewa

Fadna successfully held the 49th ‘Fadna Arunella’ at Kesbewa Sri Wijayasundararamaya recently.

Sri Lanka and Pakistan poised to lead Asian Frontier Markets in 2025

Sri Lanka along with Pakistan is poised to lead South Asian frontier markets with strong performances extending current market rally to next year amidst continuous progress in both economic and political reforms and prevailing low valuations, much anticipated recovery in earnings and possibility of a greater political stability, according to AFC Asia Frontier Fund.

Rising import demand widens trade deficit to US$ 634mn

Sri Lanka’s trade deficit expanded significantly in September 2024 as import expenditure rose sharply on consumer and investment goods demand, outpacing a modest increase in export earnings, data from the Central Bank showed.

EDB to host workshop to boost Ayurveda and herbal cosmetics exports

The Export Development Board (EDB) has organised an awareness workshop for manufacturers of Ayurveda, herbal and cosmetic products in an effort to encourage local exports to the wider global market.

Government identifies gem and jewellery as a key thrust sector for development

The government has identified gem and jewellery as a thrust sector to be developed with an aim to position Sri Lanka as an Asian Gem hub for gem sourcing and trading with all necessary infrastructure facilities.

HPL becomes first in Sri Lanka to comply with EU Deforestation Regulations

Horana Plantations PLC (HPL) has unlocked a groundbreaking milestone as the first company in the country to develop a management system fully compliant with the European Union Deforestation Regulation (EUDR), setting a new benchmark for sustainability and excellence in the industry.

China’s BYD overtakes Tesla revenue for first time

BBC: The Chinese electric vehicle giant BYD has seen its quarterly revenues soar, beating Tesla’s for the first time. It posted more than 200bn yuan (US$28.2bn, £21.8bn) in revenues between July and September. This is a 24 percent jump from the same period last year, and more than Elon Musk’s company whose quarterly revenue was US$ 25.2bn.

Sri Lanka Design Festival event sets get woven into architectural mastery at Cinnamon Life by Canvas Interior Design Studio

Sri Lanka Design Festival (SLDF) 2024 highlights the economic impact of the creative industries through an extensive programme that showcases the craftsmanship and innovation behind the event. This year, the sets, designed by Canvas Interior Design Studio, play a key role in the festival’s creative narrative. The collaboration emphasises the intersection of local, especially female-led, design talent with Sri Lanka’s growing creative industries,

National Logistics Awards 2024 a great success

National Logistics Awards 2024 took place on October 23 and Main Ballroom of Shangri-La Hotel in Colombo served as the focal point of an incredible celebration.

ComBank steps up engagement with women entrepreneurs in 2024

Women entrepreneurs received special attention from Commercial Bank of Ceylon in 2024, with the bank stepping up its direct engagement with this important customer segment via a series of activities.

David Pieris Solar completes mega project in Ranna

David Pieris Renewable Energy (Private) Limited (DPRE) successfully completed yet another major solar energy project at the Manufacturing Complex of David Pieris Motor Company (Lanka) Limited (DPMCL) in Ranna, in the Hambantota district.

Port City Colombo represented at C’wealth Biz Forum 2024

Port City Colombo, a visionary special economic zone dedicated to the export of modern services, was represented at Commonwealth Business Forum 2024, which took place in Apia, Samoa, from October 23 to 24, 2024.

LOLC Tech-Sanfer to drive market growth for OASYS^

OASYS^, a game-changing innovation by LOLC Technologies, a fully-owned subsidiary of LOLC Group, has entered into a strategic partnership with Sanfer Technologies Ltd, also a fully-owned subsidiary of South Asian Technologies.

People’s Bank recognised at LMD Awards Night 2024

The LMD Awards Night recently honoured 25 outstanding corporates in Sri Lanka, celebrating LMD’s 30th anniversary at Lumina Ballroom, Cinnamon Life.

New HDFC Bank Chairman assumes duties

The new HDFC Bank Chairman P.J. Jayasinghe assumed duties on October 28, 2024.

John Keells Properties-Standard Chartered to offer home loan packages for Viman Ja-Ela apartments

John Keells Properties announced a strategic collaboration with Standard Chartered Sri Lanka, aimed at providing attractive home loans for prospective buyers of Viman Ja-Ela.

HSBC Premier Mastercard cardholders to dazzle with stars at 67th Annual Grammy Awards

An HSBC Premier Mastercard cardholder and his or her companion will be able to enjoy a ‘priceless’ experience through an exclusive and unforgettable trip to the 67th Annual Grammy Awards, to be held in Los Angeles, USA, in February 2025.

Thilan Wijesinghe joins Mahindra Ideal Finance board

Thilan Wijesinghe, investment banker and owner of TWC group and pioneer of PPPs in Sri Lanka, joined Mahindra Ideal Finance Limited (MIFL) as an Independent Non-Executive Director.

Radisson Blu Resort Galle celebrates prestigious wins at Luxury Hotel Awards

Radisson Blu Resort Galle, managed by La Vie Hotels & Resorts, announced its remarkable achievement at the recently concluded prestigious Luxury Hotel Awards 2024.

RPCs raise Deepavali festival advances for plantation workforce by up to 25%

The Planters’ Association of Ceylon (PA) yesterday said that the Regional Plantation Companies (RPCs) have raised the festival advances for their workers, with the increase beginning ahead of this year’s Deepavali holiday.

Price drops continue to cool Colombo inflation in October

Inflation in Sri Lanka’s Colombo district fell further in October, marking the third consecutive month of easing, with both food and non-food prices declining amid the improved supply conditions and reduced administrative costs, according to the data from the Census and Statistics Department.

Asia Foundation, Google launch US $ 15mn cybersecurity fund to support 13,000 MSMEs

The Asia Foundation, in collaboration with Google Corporation, launched a US $ 15 million fund this week, to support the cybersecurity resilience of 13,000 micro, small and medium enterprises (MSMEs) across Sri Lanka.

Cartoon 31.10.2024

Sri Lanka to get a winter boost from Russian tourist arrivals

Sri Lanka’s tourism sector is set to get a boost from the Russian tourists this winter season, with the commencement of six direct flights per week between various Russian cities and Mattala Rajapaksa International Airport (MRIA) from this week.

Turnover crosses LKR 7 Bn

The ASPI closed in green as a result of price gains in counters such as Melstacorp, National Development Bank and Central Finance Company with the turnover crossing Rs. 7.0 Bn. A

Sri Lanka’s construction activity slips in September

Sri Lanka’s construction sector reported a contraction in September, reflecting a slowdown in the activities, influenced by the election-related disruptions, the data from the Purchasing Managers’ Index (PMI) showed on Monday.

Secondary market on a dismal stance

The secondary market witnessed very thin trading volumes and low investor activity during the day, continuing from the previous session.

Allianz Insurance Lanka provides medical cover for all Sri Lankan Olympians

In line with Allianz’s role as the official insurance partner for the Olympics and Paralympics, Allianz Insurance Lanka Limited has provided medical insurance to Sri Lanka’s past and present National Olympians.

Glovis Dual Fuel LNG RORO carrier docks at HIP

The LNG (liquefied natural gas) dual-fuel RORO vessel Glovis Selene made its maiden call at the Hambantota International Port (HIP) last week, unloading 627 CEUs (Car Equivalent Units) and loading 934 CEUs bound for the Persian Gulf.