Tourist arrivals cross 700,000 mark in 14 weeks

Sri Lanka crossed the 700,000 tourist arrival milestone within the first 14 weeks of the year, almost half the time frame taken to reach the mark in 2023.

Indices rebound after two days of losses

The ASPI closed in green as a result of price gains in counters such as Commercial Bank, Lanka IOC and John Keells Holdings with the turnover crossing Rs 2.0 Bn. A similar behaviour was witnessed in the S&P SL20. High net worth and institutional investor participation was noted in Hatton National Bank, Dialog Axiata and Teejay Lanka. Mixed interest was observed in Lanka IOC, Ambeon Capital and Capital Alliance whilst retail interest was noted in

Secondary market sees ultra-thin volumes as debt restructuring talks progress

The secondary market enticed a mixed sentiment amid ultra-thin volumes during yesterday’s session, as the investors took a cautious approach, eagerly waiting to see the outcome of the bondholder negotiations, which recommenced on Tuesday, following the March 24 talks, which ended up without a consensus. Thus, thin trades were observed on the belly-end of the yield curve with 01.07.25 maturity recording trades between 10.55 percent and 10.60 perc

Taxation in the digital economy

In today’s fast-paced and technology-driven world, digital services have become an integral part of our daily lives and revolutionized the way we communicate, work, and access information. One of the key benefits of digital services is their convenience - with just a few clicks or taps on a screen, we can purchase groceries, pay bills, order food, or connect with colleagues and family. Overview of different types of digital services There is a w

CEAT Kelani launches 3 new radial tyre variants in ‘Orion Brawo’ range

CEAT-Kelani has introduced three new variants of high-performance radial tyres into the market, widening choice for a significant segment of vehicle owners. Joining CEAT’s ‘Orion Brawo’ range, the new radials are in the sizes 155/65 R14, 165/70 R14 and 165 R13, with the first two sizes designated for popular models of compact and small cars, and the third for mid-sized vans, the company said. The CEAT Orion Brawo 155/65 R14 and 165/70 R14tyres bo

NDB’s Auto Carnival ends on a high note

NDB Leasing announced the conclusion of its recent leasing promotion, the ‘NDB Auto Carnival’, which provided customers with an opportunity to lease their dream vehicles with ease and convenience. Held from April 04 to April 05 at the Dambulla Dedicated Economic Centre, the event showcased NDB Leasing’s wide range of leasing options and offered some incredible benefits to attendees. During the event, customers had the chance to explore tailor-mad

David Pieris Automobiles opens pre-bookings for BAIC X55 II SUV

David Pieris Automobiles (Private) Limited (DPA) has announced that it officially started accepting pre-bookings for the all-new BAIC X55 II SUV in Sri Lanka. Earlier this month, the first 15 customers placed a deposit to pre-order their new vehicles. DPA recently announced its strategic partnership with Beijing Automotive Industry Holding Co., Ltd. (BAIC), promising a new era of innovative, quality products, and unparalleled customer service fo

Pelwatte Dairy appoints Non-Executive Directors

Pelwatte Dairy announced the appointment of Mohamed Rizwie and Deepthie Wickramasuriya as Non-Executive Directors to its board. With over three decades of experience in Consumer/Medical marketing at Nestle, Rizwie has held senior management roles across Sri Lanka, India, Philippines, and Saudi Arabia. With an educational background in marketing and sales, including diplomas from the Nestle International Training Centre in Switzerland and an MBA

Knuckles introduces drinking water in glass bottles

Knuckles, renowned for its commitment to purity and quality, has announced the launch of its newest innovation: Knuckles Bottled Drinking Water in glass bottles. Bottled at the source in the Knuckles Mountains range, the water undergoes a meticulous bottling process that ensures it retains all the natural elements and qualities historically associated with the region. From its pure, natural spring origins to its high pH value and rich essential

eChannelling partners with IOM Sri Lanka to promote health assessment programme

eChannelling and a subsidiary of SLT-Mobitel have partnered with the International Organization for Migration (IOM) Sri Lanka to provide free online appointment booking for health assessments required for migration to the UK, Australia, Canada, and New Zealand. IOM delivers comprehensive health assessment programmes that are beneficial, accessible, and equitable for migrants and mobile populations. Through the new partnership, migrants can now co

DFCC Bank launches online acceptance of UPI

DFCC Bank has launched online acceptance of the leading card scheme, UnionPay International (UPI). The partnership between DFCC Bank, UPI and Bancstac further enhances DFCC Bank’s Internet Payment Gateway Services (IPGS). “DFCC Bank is committed to delivering convenient, ease-of-use, secure and cost-effective payment acceptance methods to support our customers towards achieving their business goals,” said Denver Lewis, Vice President, and Head of

CA Sri Lanka Kuwait Chapter boosts professional growth opportunities

Heralding a new era for both Sri Lankan and Kuwaiti accounting professionals, the Kuwait Chapter of the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) is poised to catalyze professional growth and knowledge exchange opportunities for Sri Lankans through an impactful partnership with the Kuwait Accountants & Auditors Association (KAAA). The Memorandum of Understanding (MoU) was signed by Heshana Kuruppu, President of CA Sri Lanka,

Coca-Cola appoints Kaushali Kusumapala as Country Director

Coca-Cola announced this week the appointment of Kaushali Kusumapala as the new Country Director for Sri Lanka and Maldives, effective from 1st April 2024. Kaushali succeeds former Country Director, Pankaj Sinha, who assumed the role in 2019. In this position, Kaushali will closely collaborate with bottling teams, customers, partners, consumers and external stakeholders in Sri Lanka and Maldives. Kaushali is a graduate of the University of Melbo

Environment Ministry makes registration of HFC imports compulsory

The Ministry of Environment this week called for applications for the compulsory registration of businesses and individuals who wish to import hydrofluorocarbons (HFC) based imports for 2024. Completed applications along with supporting documents are to be submitted to the ministry before May 7. “Business entities/ individuals are not eligible to import HFCs for any purpose without registration,” the notice cautioned. The announcement comes after

IMF endorses reforms to help faster debt restructuring

The International Monetary Fund (IMF) announced this week that it endorsed a set of reforms that would help speed up processes in supporting the countries struggling with debt restructurings. According to the recommendations in the IMF staff paper ‘Policy Reform Proposals to Promote the Fund’s Capacity to Support Countries Undertaking Debt Restructurings’, the reforms are designed to ensure a more agile approach to the IMF support to the countri

SL’s economic progress under spotlight at G-24 Finance Ministers and CB Governors’ meeting

After years of grappling with economic challenges on the international stage, Sri Lanka is now showcasing its rapid recovery efforts this year. At the G-24 Finance Ministers and Central Bank Governors’ meeting during the IMF/WB Spring Meetings in Washington, Sri Lanka was able to tell an audience comprising of top delegates that progress has been achieved. According to Finance State Minister Shehan Semasinghe’s update on social media platform X,

Restructuring talks with bondholders only bump in the road

Contrary to the claims that the current economic recovery could get derailed due to the parties coming short in reaching an agreement on restructuring the commercial debt, the evidence showed that the two parties have come a long way in closing the gaps and it is natural there could be bumps in the road toward reaching consensus. Sri Lanka concluded its first round of restricted discussions with the so-called ad hoc group of bondholders, comprisi

Tea exporters renew call to stabilise rupee

The tea exporters urged the government to step up in its efforts towards stabilising the rupee, so that the industry can continue to service the economy at its full potential. Tea Exporters Association (TEA) Chairman Ganesh Deivanayagam asserted that the industry is becoming less competitive and is at risk. “Because of this, the industry is already at a fragile situation. The rupee appreciation puts the exporters in a very challenging situation.

Yield curve stable as dull sentiment extends

The secondary market yield curve remained broadly unchanged during yesterday, with investors adopting a cautious stance amidst uncertainties surrounding external debt restructuring talks and the ongoing holiday season, which limited market participation. Despite subdued trading activity, there were some transactions observed in liquid maturities during today’s session. Accordingly, 01.08.2026 registered trades at 11.15 percent whilst 15.12.2026

Indices record highest daily loss for the year

Indices closed in red as a result of price losses in counters such as Commercial Bank, Sampath Bank and Hatton National Bank with the turnover crossing Rs. 1.4 bn. High net worth and institutional investor participation was noted in Lanka IOC, John Keells Holdings and John Keells Hotels. Mixed interest was observed in Ambeon Capital, Browns Investments and LOLC Finance whilst retail interest was noted in Hikkaduwa Beach Resort Rights, Lanka Cred

Fits Air launches new direct flights between Colombo and Dhaka from today

Fits Air is expanding its wings, adding Colombo-Dhaka direct flights from today, the Airport and Aviation Services (Sri Lanka) (Pvt) Limited announced.

Addressing gender inequality key priority for Sri Lanka: ADB

As Sri Lanka looks to reach higher growth aspirations, addressing gender inequality is a key priority, the Asian Development Bank said.

Recovery at stake as deal with bondholders delays: Economists

Economists yesterday cautioned that Sri Lanka failing to reach an agreement with its bondholders on restructuring terms within the set deadline....

Cartoon of the Day 17-04-2024

Cartoon of the Day 17-04-2024

Commercial Bank appoints new Chairman and Deputy Chairman

Commercial Bank of Ceylon PLC yesterday announced the appointment of international investment banker Sharhan Muhseen as....

March PMI indicates faster expansion in economic activities

Further strengthening the health of the economy, the Purchasing Managers’ Index (PMI) showed continuous expansion in activities across manufacturing and services sectors, rekindling hopes that the ongoing recovery is going to be durable and solid.

Domestic growth and improving investor sentiments fuelling rupee gains: BI

Sri Lanka’s strengthening recovery and improving investor sentiment have been fuelling recent rupee gains against US$ in defying....

AHRP to host 6th HR Think Tank

In line with its mandate to significantly uplift the standards of the human resources (HR) profession in Sri Lanka, the Association of Human Resource Professionals (AHRP) will host its sixth Human Resources....

Foreign journalists join hands with SL Tourism to promote new tagline

Sri Lanka Tourism welcomed a group of mainstream international journalists and travel influencers to promote the destination for upcoming summer and winter seasons (2024/25) while highlighting....

HNB launches UnionPay International acceptance for e-commerce transactions

In alignment with its strategic roadmap and unwavering commitment to advancing customer experiences while bolstering payment acceptance capabilities in the market, Sri Lanka’s....