Ceylinco Life posts impressive premium income growth

Ceylinco Life has achieved the milestone of two decades of unbroken market leadership in Sri Lanka’s life insurance industry....

Letter to the Editor: Delisting Expolanka Holdings’ shares from Colombo Stock Exchange

I refer to the article published in your paper on March 14, 2024, written by S.V.S. Fernando of Dehiwela, citing several factors...

The tale of a working mother

“Being a working mother is the wiser choice … Do not underestimate the positive impact it will have on your kids....

Project Apollo to boost Sri Lanka’s renewable energy ambitions

The Ministry of Power and Energy signed a Power Purchase Agreement (PPA) for the Project Apollo between Ceylon Energy Pte Ltd....

Assetline Finance opens 56th branch in Panadura

Assetline Finance Limited (AFL) opened its 56th branch in Panadura recently. The branch also offers....

David Pieris Automobiles partners with BAIC

David Pieris Automobiles (Private) Limited (DPA) announced its partnership in Sri Lanka with Beijing Automotive Industry...

Sanasa General Insurance achieves 53% growth in 2023

Sanasa General Insurance Company marked a unique milestone in their history by achieving a record growth rate of 53 percent....

First LNG-powered vessel calls at HIP

The first LNG battery hybrid powered RORO vessel berthed at the Hambantota International Port (HIP) for the discharge...

People’s Bank named among top 20 employers at Top Employers Awards

People’s Bank has been named among the top 20 employers among AICPA and CIMA members in recognition of the bank’s....

Minimum room rate has negative impact on local tourism: CHSGA member

The minimum room rate introduced for city hotels by the government could have a negative effect on tourism, an industrialis...

ADB boosts small businesses with US $ 100mn loan extension

Sri Lanka’s small and medium enterprises (SMEs) are set to receive a significant boost, as the Asian Development Bank....

New HDI report warns global community is falling short

For the first time on record, the inequalities in the Human Development Index (HDI) values—which measure a country’s....

Star Wars: Millennium Falcon 50p coin unveiled by Royal Mint

The Millennium Falcon has landed on a 50p coin in the latest collectable Star Wars series from the Royal ....

Appeal Court grants interim order on On’ally Holdings shareholder dispute

The Court of Appeal has issued an interim order suspending a previous ruling by the Commercial High Court of Colombo. This ruling....

NDB to raise Rs.10bn via Basel III-compliant debentures

National Development Bank (NDB) yesterday announced it would raise a maximum sum of Rs.10 billion by way of Basel III....

Impact of microfinance in SL’s economic development

We swung off the main road and bumped down a narrow lane until we reached a modest two-story home. As we got out of the car....

SLT-Mobitel and Sri Lanka Railways digitize ticket reservation

SLT-Mobitel in collaboration with Sri Lanka Railways recently marked a significant milestone by digitizing the ticket reservation ....

South Korean Kiuda to launch Carbon Exchange with Lankan tech startup

South Korea’s Kiuda Digital Holdings is to launch their state-of-the-art carbon exchange named ‘KiudaEX’. The locally....

Tourism hits half a million arrival milestone in under 3 months

Sri Lanka’s tourist arrivals have soared past the 500,000 mark in just the third month of the year, with March alone crossing the 100,000 milestone, over the weekend.

Silence on gender-based harassment in workplaces gets louder

In a disheartening revelation, a recent study conducted by the Women’s Chamber of Industry and Commerce Sri Lanka (WCIC) shed light on the alarming silence surrounding gender-based violence and harassment (GBVH) against women in workplaces.

Private credit makes about turn in January

Defying both the expectations and the trend seen for the past seven months, the credit extended to the private sector by licensed commercial banks has reversed direction to record a de-growth of Rs.52.2 billion in January 2024. It wasn’t immediately clear if there was any one-off factor which turned the months-long streak in private credit growth into negative in January, as such credit was well poised to grow at an accelerated pace in 2024 with

Adani Wind Power Project in Mannar: Ecological threat and allegations of cronyism

The Adani Green Energy’s wind power project in Mannar, Sri Lanka, has become a lightning rod for controversy. While the project promises to boost renewable energy production in the country, it faces fierce opposition due to its potential ecological impact and allegations of cronyism.

Economy surges in 4Q23, narrowing full year contraction to 2.3%

Sri Lanka’s economy surged in the fourth quarter, marking a swift recovery from the prolonged recession that began 18 months ago. The growth rate exceeded expectations, outpacing third quarter’s performance. Sri Lanka’s full-year contraction narrowed to 2.3 percent, a significant improvement from the steeper 7.3 percent contraction recorded in 2022. According to the Census and Statistics Department which released the national accounts data for t

Government announces fresh support for gem and jewellery sector

The local gem and jewellery sector will receive some room to recover from the current challenges as the government announced fresh plans to provide concessions. President Ranil Wickremesinghe however asserted that immediate changes to the tax policy are not feasible. Meeting with industry stakeholders recently, Wickremesinghe said by offering solutions to the problems within the industry, relief will be extended to ensure their continued growth a

February PMI points to continued expansion

Signalling continued expansion in economic activities, Purchasing Managers’ Index (PMI) for both manufacturing and services recorded persistent gains in February with expectations for the next three months remaining upbeat, especially due to the upcoming traditional New Year season. According to the PMI index released for February by the Central Bank, the manufacturing sector recorded an index value of 56.0 while of the services it reads 53.0. In

NDB announces final dividend payment for 2023

The National Development Bank (PLC) announced the approval of distribution to the shareholders by way of a final dividend of Rs. 5.00 to be paid per share on the Ordinary Shares in issue for the financial year ended 31 December 2023. Accordingly, Rs. 2.00 will be in the form of cash dividend and the balance Rs. 3.00 will be in the form of scrip dividend. In a filing to the Colombo Stock Exchange (CSE), NDB PLC confirmed that the final dividend of

ECB could start rate cuts in June: Policymaker

REUTERS - The European Central Bank could start cutting interest rates in June after a reduction in euro zone inflation, ECB policymaker Pablo Hernandez de Cos said in an interview published yesterday. The ECB kept borrowing costs at a record high this month but said it had made good progress in bringing down inflation and has started a preliminary discussion about dialling back monetary tightening. “If our macroeconomic forecasts are met in the

Valuables!

The surge in onion prices has transformed each bulb into valuables. A worker is captured in the act of sorting through previous stocks of onions, ensuring that every piece is utilised efficiently to avoid wastage. This scene underscores the current market dynamics, where the rising prices of essential goods such as onions have significant implications for businesses and consumers alike. Each onion saved from being discarded represents a small but

People’s Bank opens ATM at Holuwagoda River Park

People’s Bank recently declared open an ATM at Serene River Park, Holuwagoda, Galle. Through this ATM, the customers can withdraw money 365 days of the year, seven days of the week and 24 hours of the day. Health and Industries Minister Dr. Ramesh Pathirana, Southern Province Governor Dr. Willie Gamage, Galle District MP Sampath Athukorala, People’s Bank Chairman Sujeewa Rajapakse, Galle Regional Manager N.K. Wimalasiri and the bank officials par

NDB Bank-Havelock City Mall partner for Avurudu

NDB Bank announced its collaboration with Havelock City Mall as the official banking partner for Avurudu Season 2024. From March 14, 2024 to April 21, 2024, customers can revel in the festive spirit at the mall, with NDB curating exclusive card offers and exciting activities for all. During this special season, with ‘අවුරුදු වාසි වෑහේ’ card offers from NDB, the cardholders can indulge in a plethora of exclusive deals and discounts from various me