Indices record gains for five consecutive days

Indices closed in green as a result of price gains in counters such as Hayleys, Sampath Bank and Hatton National Bank with the turnover crossing Rs 4.1 Bn. High net worth and institutional investor participation was noted in John Keells Holdings, Commercial Bank and Ceylon Cold Stores. Mixed interest was observed in Sampath Bank, Royal Ceramics and Hayleys whilst retail interest was noted in Browns Investments, Marawila Resorts and Beruwala Resor

Bullish sentiment takes charge

By First Capital Research The secondary market witnessed heavy buying interest at yesterday’s session, resulting in a dip in the yield curve, following the T-bond auction held yesterday. The buying appetite centred largely on the belly of the curve with liquid tenures 2026, 2027 and 2028 observing higher trades. Accordingly, 15.05.2026, 01.06.2026, 01.08.2026 and 15.12.2026 hovered between 11.15 percent and 10.90 percent. Further, on the 2027 t

Women in Tourism Has Sri Lanka done enough to advance women in the fast reviving industry?

This report is compiled based on the forum ‘Women in Tourism: Advocate, Engage, Achieve’, organized by the Sri Lanka Tourism Alliance (SLTA) in collaboration with Australia’s Market Development Facility (MDF). The forum served as a platform to discuss and develop solutions that would enhance the involvement of women in the tourism sector. The dialogue brought together industry professionals and key stakeholders of the tourism sector to discuss ob

Tokyo Cement salutes top performers at 2024 Annual Dealer Convention

Tokyo Cement Group recently hosted their top-performing dealers to the Annual Dealer Convention 2024, held at the Cinnamon Grand Colombo. City Hardware & Stores – Jaffna, Ancheneyer Cement & Hardware Dealer – Batticaloa, National Trading Stores – Kurunegala, Shanmugam Stores – Kilinochchi, Emerald Hardware –Uduppiddy and Hansika Transport – Katuneriya were crowned best among the best of 2024 at the annual awards ceremony organised by the cement g

Telin and Dialog Axiata Ink Strategic Partnership to Manage International Voice and SMS Termination

Dialog Axiata PLC, Sri Lanka’s #1 connectivity provider, and Telin, the international arm of Telkom Indonesia, have signed a new Master Service Agreement (MSA) whereby Telin will exclusively provide Managed Services for international A2P SMS traffic and international voice termination traffic to Dialog. This agreement aims to monetize international traffic while extending unparalleled convenience, enhanced security, global coverage and consisten

HNB partners with Micro Cars for exclusive vehicle offers

HNB PLC recently entered a strategic partnership with Micro Cars Limited to offer benefits and exclusive offers to customers intending to purchase vehicles from Micro Cars. Under this partnership, customers purchasing PROTON SAGA, SAIC ALMAZA and TIGGO4 PRO vehicles from Micro Cars will enjoy a range of benefits and incentives. HNB Assistant General Manager – PFS, Kanchana Karunagama and Micro Cars Chairman/CEO Lawrence Perera were present at the

Toyota Lanka celebrates excellence at Annual Dealer Convention

Toyota Lanka (Private) Limited recently hosted its 16th Annual Dealer Convention to honour and recognize the outstanding contributions of its 500 authorized partners nationwide. The convention served as a platform to acknowledge the pivotal role played by these partners in the distribution of Toyota Genuine Motor Oil, Toyota Genuine Spare Parts, PIRELLI, Accelera and Otani Tyres, ensuring the highest standards of quality and service for customer

Seylan Kedella Construction Expo ends on a high note

The recently held Seylan Kedella Construction Expo 2024 came to a successful conclusion, with several of the latest trends and innovations in Sri Lanka’s construction and home decor industries on display. With a footfall of over 12,000 attendees, this year marked the 12th consecutive year that Seylan Bank stood as the title partner for the event held at the Bandaranaike Memorial International Conference Hall (BMICH). Seylan Bank, renowned for it

DFCC Mega Leasing promotion kicks off

In partnership with key vehicle dealerships in the Kohuwela area, DFCC Leasing launched its Mega Leasing promotion on the 22nd of March, across multiple prominent locations. The promotion provides very competitive rates of Rs. 1,699 for every Rs. 100,000 leased, which is the lowest rental in the market. DFCC Leasing partnered with AA Automart, Nalin Auto Enterprises, Premier Auto Mart, and Ranasinghe Enterprises to conduct this promotion. The e

Prime Residencies breaks ground, launches ‘Colombo Border’ phase II

Prime Lands Residencies PLC achieved a significant milestone with the ground-breaking ceremony of ‘The Colombo Border,’ a project poised to redefine urban living. With Phase I of the project nearly sold out, the company is now launching Phase II, coinciding with the commencement of construction. Piling work has been undertaken by San Piling, a reputed name in the construction industry, signifying the project’s steady progress towards completion.

Sri Lanka’s RPCs set sights on 10% coffee cultivation expansion

In a major boost to Sri Lanka’s coffee industry, Sri Lanka’s Regional Plantation Companies (RPCs) said they are aiming to expand the current coffee cultivation to 10 percent of the total land extent. This will be rolled out over time, as part of its diversification strategy. “Currently, we have about 100 hectares of coffee cultivation; we plan to expand this to 10 percent of our total land extent,” Planters’ Association of Ceylon Past Chairman

Jetwing to venture into coffee production

Sri Lanka’s Jetwing Hotels is eyeing to venture into coffee production with its own brand, after having entered into small-scale coffee cultivation. “We are also looking at how we can produce our own coffee as a company but also how we can work with our local suppliers,” Jetwing Hotels Managing Director Dmitri Cooray revealed. Jetwing has already started planting coffee in Welimada and one other property, according to him. The homegrown hotel c

Colombo Stock Exchange and UNDP sign MoU

The United Nations Development Programme (UNDP) Sri Lanka and Colombo Stock Exchange (CSE) signed a memorandum of understanding (MoU) to establish a partnership aimed at leveraging Sri Lanka’s capital markets for sustainable financing. This collaboration is intended to support and encourage private sector stewardship and embed sustainability as an important element of business strategy in Sri Lanka. Specifically, the collaboration intends to ac

Fresh boost for export sector with EDB-Port City Colombo new partnership

Port City Colombo, CHEC Port City Colombo (Pvt.) Ltd and the Sri Lanka Export Development Board (EDB) yesterday announced a new partnership, which would attract export-oriented businesses to the special economic zone. A memorandum of understanding was signed between the two parties to this effect on April 26, 2024, at Port City Colombo Sales Gallery. Singing on behalf of the EDB was its Chairman Dr. Kingsley Bernard, while CHEC Port City Colombo

Apparel sector revenue totals US$ 1.17 bn in 1Q24

Sri Lanka’s apparel industry saw its revenue cross the US$ 1 billion mark in the first quarter (1Q24) with exports expanding by 7.7 percent in March.

Daredevil Dives

While Sri Lanka’s economic landscape has undergone significant changes, one thing that remains unchanged is the passion....

CB optimistic of stability amidst ongoing economic reforms

The Central Bank of Sri Lanka sounded optimistic about Sri Lanka witnessing stability on multiple fronts, provided that the ongoing ambitious reforms and economic adjustments underpinned by the Extended Fund Facility (EFF) programme of the International Monetary Fund (IMF) continue without any interruptions.

Pan Asia Bank kicks off March quarter earnings with a bang

Kicking off the March quarter banking sector earnings, Pan Asia Banking Corporation PLC reported robust financial performance and said they are seeing demand for loans....

SriLankan transforms aircraft maintenance with AMOS newgen MRO system

SriLankan Airlines has transformed aircraft maintenance with the recent integration of AMOS, a next-generation enterprise resource planning (ERP) solution for aircraft engineering...

PGP Glass reports modest top & bottom-line performance but poised for growth

PGP Glass Ceylon PLC reported some modest top and bottom-line performance in the three months ended in March 2024.The top-line saw rising in the double digits reflecting pick up...

Capital A-AirAsia sign conditional sale, purchase agreement

Malaysia’s Capital A Berhad (Capital A) and AirAsia Group Sdn Bhd (AirAsia Group), the newly incorporated entity that will eventually be the holding company of AirAsia X Berhad (AirAsia X), announced....

Ranjith Obeyesekera/K-Hart International shortlisted for AusSpace24

Ranjith Obeyesekera/K-Hart International has been named as a finalist in the AusSpace24 Australian Space Awards for Research and Development Project. The AusSpace24....

Eight Lankan diplomats visit Hambantota Port

The Sri Lanka Foreign Ministry organised a visit for ambassador designates to the Hambantota International Port (HIP). Sri Lankan ambassadors....

Damen launches pilot project for green shipbreaking under EU rules

Damen Shipyards Group, best known as a designer and builder of ships, is launching a pilot project exploring the circular approach to retiring and recdycling end-of-life vessels. The project ...

X-Press Feeders, #1 Feed Operator at Colombo Ports Awards 2024

X-Press Feeders, the world’s largest independent feeder carrier, announced its triumph as the recipient of the #1 Feed Operator Award at the Colombo Ports Awards 2024, underscoring....

Houthis resume attacks on shipping

After a break of more than two weeks, the Houthis from Yemen struck back at ships towards the latter part of last week. The militants took aim....

Advancing Standards A Roadmap for Sri Lanka’s Standards Development Process

In today’s dynamic global landscape, adherence to robust standards plays a key role in ensuring product quality, fostering cross-border trade, and safeguarding public health and....

Finding Solutions to manage the talent drain

Official records suggest that over 1.1 million Sri Lankans have left the country in 2022 with a monthly average of about 94,000 while only 27.6 percent of total departures have left for foreign...

EU-financed AgriFI grants US $ 3mn loan to Sarvodaya Development Finance

AgriFI, the European Union (EU)-funded agriculture financing initiative, managed by EDFI Management Company, announced a US $ 3 million loan to Sarvodaya Development Finance....

An appreciation to late industry veteran Prema Cooray

The demise of Prema Cooray is a great loss to the tourism industry in Sri Lanka. His passion for the industry was known by all. An individual who never hesitated to take a lead role in addressing....