Aitken Spence Hotels in LMD’s Most Awarded Hall of Fame once again

Aitken Spence Hotels has once again ranked among the top companies in LMD’s Most Awarded Hall of Fame, solidifying its position as one of the most distinguished entities in Sri Lanka. Acquiring a tally of 52 awards throughout 2023, the company secured the first place in hospitality sector and fourth place among the nation’s most honoured establishments. With an extensive presence spanning Sri Lanka, Maldives, India, and Oman, Aitken Spence Hotel

Domino’s extends footprint with newest outlet in Jaffna

Domino’s Sri Lanka extended its footprint to the Jaffna region with the opening of its newest outlet recently. With a commitment to delivering piping hot pizzas, garlic breadsticks and a range of chicken products, Domino’s brings a truly international experience to Jaffna, setting new benchmarks in culinary delight. As experts in 30-minute delivery, Domino’s ensures that your favourite dishes are swiftly delivered to your doorstep, guaranteeing

Thaala Bentota spearheads efforts to conserve endangered mangrove species

Thaala Bentota Resort by Browns Hotels & Resorts, in collaboration with the Department of Wildlife Conservation, recently unveiled a conservation initiative aimed at safeguarding Bentota’s vital mangrove ecosystem. The programme aims to focus on the ‘Ratha Milla’ plant (Lumnitzeralittorea), a critically endangered true mangrove species native to Sri Lanka. The Ratha Milla mangrove, previously thought to be limited to the Madu River Ramsar until

Week ends with losses

Indices closed in red as a result of price losses in counters such as Hatton National Bank, Melstacorp and Commercial Bank with the turnover crossing Rs 1.4 Bn. High net worth and institutional investor participation was noted in LOLC Finance, Browns Investments and Capital Alliance. Mixed interest was observed in Hatton National Bank, Lanka Milk Foods and CIC Holdings whilst retail interest was noted in Waskaduwa Beach Resort, Softlogic Capital

Dreary sentiment continues for yet another day in secondary market

Slight selling interest persisted for yet another day in the secondary market, with limited activities taking place on the belly end of the curve, largely on the investor favourite 2027 and 2028 maturities. Few trades took place between 11.35 percent to 11.38 percent on the 15.01.27 maturity whilst trades were also recorded on the 01.05.27 maturity, at 11.85 percent and 15.09.27 maturity between 11.95 percent and 12.00 percent. Moreover, on t

Malaysia’s Axiata merger with Bharti Airtel of India raises earnings concern: Analysts

The planned merger of Axiata Group Bhd, Malaysia’s largest telecommunications company by revenue, with India’s Bharti Airtel Ltd raises concerns as the latter’s subsidiary Airtel Lanka is currently a loss-making company, analysts said.

IMF urges Asian Central Banks to not follow Fed too closely

The International Monetary Fund (IMF) has urged Asian Central Banks to not follow the Fed too closely.

Port City officials frustrated over delay in duty free mall opening

Port City Colombo officials expressed frustration over delays in opening the downtown duty-free mall in Colombo.

Bondholders’ agreement delay won’t hinder IMF third tranche payout:  Dr. Coomaraswamy

Possible delays in reaching an agreement (in principle) with private bondholders is unlikely to impact the disbursement of the third tranche under IMF’s US$ 3billion bailout package, given negotiations are moving ahead in good faith, Former Governor of Central Bank (CB) and renowned economist, Dr. Indrajit Coomaraswamy said.

Slight selling despite dry sentiment

The secondary market yield curve slightly ticked high, as a slight selling pressure emerged on the belly end of the curve. Accordingly, liquid tenors 2026, 2027 and 2028 saw some activities with 15.05.2026 trading at 11.20 percent. Further, 15.12.2026 hovered between 11.32 percent -11.35 percent whilst on the 2027 tenor, 01.05.2027 and 15.09.2027 recorded transactions at 11.78 percent and 12.01 percent, respectively. Moreover, 15.03.2028 entice

Setback for Sri Lanka’s duty-free plans

The anticipated introduction of duty-free shopping in Colombo by April promised substantial benefits for Sri Lanka. However, the momentum for the project, led by the Port City Commission, has been abruptly halted by last-minute legislative challenges.

Hayleys Leisure Training Academy holds 2nd graduation ceremony

The Hayleys Leisure Training Academy, a pioneering initiative by Hayleys Leisure, held its second graduation ceremony recently,

Hunas Holdings-BCC Corporation Japan to revolutionise hospitality industry

Hunas Holdings PLC, a leading player in the investment and hospitality sector, recently announced a strategic partnership with BCC Corporation Japan, a renowned innovator in technology, hospitality and real estate solutions. Together, they

Radisson Blu Resort Galle wins Franchised Hotel of the Year Award

Radisson Blu Resort Galle announced the resort has emerged triumphant in clinching the Franchised Hotel of the Year Award at the recently held SEAP – GM Conference of Radisson Hotel Group hosted in Cebu, Philippines.

HVA Foods appoints Samantha Ranatunga as Chairman and Graham Stork as CEO

HVA Foods PLC, a member of the George Steuart group, announced the following appointments to its board of directors. Accordingly, Graham Stork has taken up duties as Director and Chief Executive Officer, while Samantha Ranatunga has tak

BOC records over Rs.503bn worth transactions this Avurudu season

The No. 1 Bank in the Country, Bank of Ceylon (BOC) yet again set a record during the Avurudu season with over Rs.185 billion worth transactions taking place in BOC’s very own cash recycling machines (CRMs) and ATM terminals.

New Unilever Sri Lanka Chairman and CEO Ali Tariq met with Board of Investment (BOI)

New Unilever Sri Lanka Chairman and CEO Ali Tariq met with Board of Investment (BOI) Chairman Dinesh Weerakkody and the BOI and Port City officials, to discuss the current investment climate, opportunities and the Unilever Sri Lanka operations in the country. Head of Regulatory and External Affairs Harini Rajadasa also participated.

HNBA, Best Life Bancassurance Provider again

HNB Assurance PLC (HNBA) has once again secured the prestigious title of Best Life Bancassurance Provider in Sri Lanka for the fourth consecutive year, recognised by the Global Banking and Finance Review. This award und

SOE transactions to end by August: Restructuring Unit

The State-Owned Enterprise Restructuring Unit (SOERU) yesterday said it expects all transactions, other than that of the national carrier to be concluded by August 2024. The timeline for SriLankan Airlines is likely to extend to end September 2024. The SOER

IMF ready to support discussions with bondholders

REUTERS: The International Monetary Fund (IMF) stands ready to support Sri Lanka’s discussions with international bondholders and will provide a formal assessment after the parties reach a tentative agreement-in-principle

Japan says fully committed towards early finalisation of debt restructuring

Japan says fully committed towards early finalisation of debt restructuring

March tea exports up 18% YoY

Dialog-Airtel merger call gets connected

Sri Lanka will see two leading telco groups come together with the Telecommunications Regulatory Commission of Sri Lanka (TRCSL) giving the nod for Dialog Axiata and Bharti Airtel to merge. Dialog Axiata PL

Indices close on a negative note

The ASPI closed in red as a result of price losses in counters such as Sampath Bank, Lion Brewery and Hatton National Bank with the turnover crossing Rs. 2.2 bn. A similar behaviour was witnessed in the S&P SL20. High net worth and institutional investor participation was noted in National Development Bank, DFCC Bank and Central Finance Company. Mixed interest was observed in Capital Alliance, Lanka Milk Foods and Hemas Holdings whilst retail i

Citizens Development Business Finance’s Act Early for Autism project wins Best Project Sustainability Award

In an absolute win for responding to the autism spectrum disorder (ASD), which affects one in 93 children between the ages of 18 to 24 months in Sri Lanka, ‘Act Early for Autism’, which is a Citizens Development Business Finance PLC (CDB) project,

Latest Brandix ESG report examines environmental stewardship within sector

Sri Lanka’s premier apparel solutions provider Brandix released its 2022/23 environmental, social and governance (ESG) report this

Climate change to cost US $ 38tn by 2050: German study

A recent study by the Potsdam Institute for Climate Impact Research (PIK) has projected staggering global damages from

Sri Lanka 1Q24 tea exports dollar earnings at six year high

A review of data published by Sri Lanka Customs analyzed by Siyaka Research confirms that the country shipped 62 Mnkg during the period January – March 2024, up 15% on last year’s figure of 54 Mnkg.

Climate change to cost world economy US$ 38 trillion

The global annual damage caused by climate change is estimated to be 38 trillion dollars until the year 2050, a study by a German research institute has found.

Tensions in Gulf could hurt Ceylon Tea cuppa: Industry

The mounting tensions in the Middle East that are becoming increasingly unpredictable are likely to impact the Ceylon Tea cuppa, the industry stakeholders said, especially since over 50 percent of the island nation’s tea is exported to that region.