ComBank engages countrywide female staff at Women’s Day event

The Commercial Bank of Ceylon’s initiatives to celebrate International Women’s Day 2024, also encompassed the bank’s own female staff across the country with a special knowledge sharing session titled “Counting HER in, and Investing in HER.” Organized by the bank’s Women Banking Unit and the Staff Development Center (SDC) of the bank, the event was intended to promote inclusivity, enhance potential, and foster growth among female staff members, t

B2B Luxury Connect to kickoff in April

Boutiques Sri Lanka, renowned for promoting boutique accommodation experiences across the country, is set to host its annual ‘B2B Luxury Connect’ trade fair on April 30th. This luxury travel fair focuses entirely on the small luxury accommodation sector in Sri Lanka and will take place at Monarch Imperial, Sri Jayewardenepura, Kotte. The event, themed “Sustainability Sri Lanka,” aims to provide a platform for carefully selected small luxury bou

Softlogic Stockbrokers launches SL’s first-ever AI-powered market research platform

The local financial market landscape reached a new milestone with Softlogic Stockbrokers unveiling Sri Lanka’s first-ever artificial intelligence (AI)-powered market research platform StockGPT. Developed by the in-house tech team of the group, StockGPT utilises cutting-edge AI technologies, including Microsoft Azure OpenAI Service. The platform offers investors, financial analysts and fund managers unprecedented and instant access to real-time, c

Tea auction sees good demand amidst currency volatility

This week’s Colombo Tea Auction saw 5.14 million kilogrammes come under the hammer, which was met with fair demand, amidst the instability and volatility in the currency, Forbes and Walker Tea Brokers said. The Ex-Estate offerings comprised of 0.85 million kilogrammes. The overall quality of teas from the Western slopes together with the Nuwara Eliyas were reasonably maintained though irregular, whilst the Uva/Uda Pussellawas were fairly similar

Dialog can maintain ‘AAA(lka)’ rating despite slower revenue growth: Fitch

Dialog Axiata PLC can maintain a credit profile commensurate with a ‘AAA(lka)’ rating in the next 12-18 months, despite the slower revenue growth, escalated costs and likely slight higher leverage, Fitch Ratings said. The rating agency affirmed the Sri Lanka-based telecom company’s National Long-Term Rating at ‘AAA(lka)’, with a Stable Outlook. Dialog’s rating is based on its Standalone Credit Profile (SCP) of ‘aaa(lka)’. According to Fitch, thi

Fitch assigns Abans’ proposed debentures AA-(lka)’ National Long-Term Rating

Fitch Ratings has assigned a ‘AA-(lka)’ National Long-Term Rating to Sri Lanka-based consumer electronics retailer Abans PLC’s (AA-(lka)/Stable) proposed senior unsecured redeemable debentures of Rs.1.0 billion, with the option to increase up to Rs.2.0 billion. The proposed debentures are rated in line with Abans’ existing unsecured notes, as they rank equally. The proceeds from the debentures will be used to refinance the company’s existing debt

Inflation cools in February signalling easing price pressures

The consumer prices, measured based on the broader inflation index, pointed to softening prices from the recent highs reached in January, while the prices measured on a monthly basis, in fact, fell into deflationary territory, largely due to the ameliorated food prices in February from a month ago. The consumer prices measured based on the National Consumer Price Index decelerated quite notably to 5.1 percent in the 12 months to February 2024, fr

Secondary market stalls, awaiting monetary policy’s verdict

The secondary market exhibited a subdued tone during the day, characterised by ultra-thin trading volumes, as the investors opted to remain on the sidelines in anticipation of the forthcoming monetary policy review scheduled for next week. However, amidst this stillness, a gleam of buying interest emerged on the two-year and four-year bonds, with 15.12.26 maturity trading between 11.35 percent and 11.32 percent and the 15.03.28 and 01.07.28 matu

SL currently on a knife- edge path, cautions IMF

While Sri Lanka is gearing up for elections this year, which could result in uncertainties, the International Monetary Fund (IMF) cautioned that it is absolutely key that the programme objectives are achieved, because with those, Sri Lanka has a chance of emerging from the crisis. “The path is a knife-edge path. We have to remember that. So, yes, we acknowledge in our press report the green shoots that we see for the economy and that’s the beginn

Mid 2024 will be a turning point for Sri Lanka’s economy, says Ranil

Mid this year will be the turning point for Sri Lanka’s economy, according to President Ranil Wickremesinghe, as from then on the island nation will have opportunities for further progress.

Sino Lanka Power Gen and Softlogic Glomark take the Next Big Step in Sri Lanka’s Future with Solar Power

SLPG, a prominent facilitator of solar power systems, is excited to announce its new partnership with Softlogic Glomark, launching solar systems in six different locations across Sri Lanka. With a combined capacity of 982.43 kWp, this endeavor signifies a significant step towards renewable energy adoption. Notably, Softlogic Glomark – Negombo leads

Integrated water resources management: Creating a positive ripple effect Commemorating World Water Day 2024

American Premium commemorates World Water Day with OrphanCare

As the world commemorates the World Water Day, American Water’s commitment to corporate social responsibility shines through as it joins hands with OrphanCare, an independent trust dedicated towards making a positive impact on the live

Top German tech investor reaffirms future investments in Sri Lanka

Dr. Cornelius Boersch, a top German tech investor, has reaffirmed commitment and future investments in Sri Lanka. Having invested in the tech sector for 30 years across frontier markets spanning South America to Asia, Dr. Boersch maintai

Top trade delegation from China visits BOI

A delegation, led by Zhang Xiaodong, Secretary General, Chief Representative of China for Sri Lanka-China Association f

Fitch Ratings affirms JAT Holdings National Long-Term Rating at ‘AA(lka)’

Fitch Ratings has affirmed Sri Lankan paint manufacturer JAT Holdings PLC’s National Long-Term Rating at ‘AA(lka)’. The Outlook is Stable. JAT’s rating reflects the company’s strong financial profile with low leverage and manageable liquidity. The rating is also supported by it

British Council launches Women in STEM scholarships

British Council, the UK’s international organisation for educational opportunities and cultural relations, in partnership with the UK universities, has announced the launch of British Council Scholarships for Women in STEM progra

Loops Integrated wins Gold at Young Spikes 2024

Loops Integrated, renowned for its commitment to nurturing talent and fostering growth, proudly announced the groundbreaking ach

Samsung Sri Lanka secures People’s Brand of Year Youth Award

Samsung Sri Lanka, a leader in global mobile and consumer electronics, announced its success at SLIM Kantar People’s Awards 2024.

Visa recognises People’s Bank at Commercial Solutions Client Forum

People’s Bank was recognised at Visa Commercial Solutions Client Forum Sri Lanka 2024, held recently at Cinnamon Grand Hotel.

Revolution in ComBank annual report reading experience

March 5, 2024, will go down as a red-letter day for the world’s investor relations community. On this day, Commercial Ba

Sustaining reform momentum critical for lasting recovery: IMF

Sri Lanka has made significant progress, despite its circumstances, in implementing its ambitious reform agenda.

FitsAir launches direct flights from Colombo to Dhaka

FitsAir, Sri Lanka’s low-cost airline, yesterday announced the launch of direct flights connecting Colombo and Dhaka, Bangladesh starting April 2024. This move repre

Stockbrokers consent for draft demutualisation bill

Sri Lanka’s stockbroking community said they are in favour of the draft bill for the demutualisation of Colombo Stock Exchange (

Sri Lanka successful in securing IMF approval for US$ 377 mn loan tranche

Sri Lanka yesterday reached staff-level agreement with the International Monetary Fund (IMF) on the second review under th

February tea production up 6.6 % Year-on-Year

Sri Lanka’s tea production rose 6.6 percent Year-on-Year (YoY) to 19.99 million kilos in February, according to Forbes and Walke

Talks with bondholders to kickoff next week

Sri Lankan officials and global investors will kick off negotiations on restructuring US$ 12 billion in defaulted global bonds next w

IMF reaches staff-level agreement with SL on second review

The IMF team reached staff-level agreement with the Sri Lankan authorities on the second review under the economic reform program supported by a 4-year Extended Fund Facility (EFF) arrangement.

Political will crucial to central bank digital currency

The senior representatives of the financial sector yesterday raised significant concerns about the government’s commitment to enacting the necessary legislation for the introduction of a central bank digital currency (CBDC) in Sri Lanka.

Vision Care celebrates anniversary recognizing longstanding employees

Vision Care celebrated its 32nd Anniversary with a Staff Convention & Annual Awards 2023 event, dedicated to recognizing and honoring longstanding employees and star performers. The Staff Convention & Annual Awards 2023 witnessed the recognition of employees who have dedicated 10, 15, 20, 25, and 30 years of service, as well as recognizing the best performers across different departments and branches island-wide. Harsha Maduranga, General Manag