Mövenpick unveils ‘Space’ wellness brand on Women’s Day

Mövenpick Hotel Colombo recently introduced the ‘Space’ wellness brand coinciding with the International Women’s Day. Space’ represents a transformative leap forward for Mövenpick Hotel Colombo, consolidating its diverse offerings into a singular platform dedicated to holistic wellness. In a bold move towards inclusivity and accessibility, Mövenpick Hotel Colombo has brought together its entire spectrum of wellness offerings under the umbrella o

Hotel Sigiriya launches wildlife education initiative

In celebration of World Wildlife Day, Browns Hotels & Resorts launched its first ever Naturalist Training Programme at Hotel Sigiriya recently. Teaming up with the experts from the Sri Lanka Department of Wildlife Conservation, the innovative 3-month programme, led by seasoned experts in zoology and wildlife management from the Sigiriya Divisional Zone, will seamlessly blend classroom learning with hands-on field experience for participants. Suha

SOLO by HNB enhances traveller experience with UPI

HNB PLC recently rolled out Lanka QR payment acceptance for Indian and Chinese tourists through SOLO, facilitated by the recent partnerships of LankaPay with the National Payment Corporation of India and UnionPay International. The partnership will boost tourism and enhance financial connectivity, enabling smoother transactions across borders and ushering in a new era of convenient payment methods for travellers, the diaspora and tourists using I

Bangladesh operations boost JAT 3Q revenue

JAT Holdings PLC recently released its financials for Q3 of FY 2023/24, reflecting a resilient performance amidst adverse market conditions. With its operations in Bangladesh seeing continued expansion, including the opening of its manufacturing facility in 2023, and its alkyd resin plant in 2024, supported by cutting-edge R&D and value engineering in Sri Lanka, JAT has established itself as a leaderin wood coatings in the region. Accordingly,

E B Creasy Solar completes irrigation project in Nikaveratiya

E B Creasy Solar has once again demonstrated its commitment to environmental stewardship and technological innovation with the recent completion of a landmark project in Nikaveratiya. In partnership with the United Nations Development Programme (UNDP), utilizing cutting-edge German Lorentz solar-powered water pumps, this project is set to revolutionize water accessibility, for both irrigation and consumption, promising to pump an astounding 1 mil

Indian delegation visits BOI

An Indian delegation consisting of some of the key renewable energy companies of India visited BOI yesterday. The companies met with the BOI Chairman Dinesh Weerakkody and officials of the BOI . The Business delegation is visiting Sri Lanka from 11-13 March with a view to look at investment potential and partnerships.

Surge Global secures multi-million dollar government contract in Qatar

Surge Global, a leading design, technology, and marketing firm of Sri Lankan origin has announced its partnership with Gulf Business Machines (GBM) Qatar, one of Qatar’s largest technology companies. The partnership kicked off with a successful bid in securing a multi-million dollar project for a prominent public sector entity in Qatar. This achievement marks a significant milestone for both companies and reaffirms their commitment to delivering

HNB celebrates135th year with commemorative stamp launch

HNB PLC celebrated its 135th year of supporting customers and businesses to achieve their financial goals with the release of a commemorative stamp. Commenting on the historic occasion HNB’s Managing Director / Chief Executive Officer Jonathan Alles said, “Since our inception, HNB has recognized that our true strength lies not only in our financial prowess but also in the people we serve – from budding savers to thriving SMEs. Initiatives like

Socomec India sees Sri Lanka leading Asia’s tech future

Sri Lanka can emerge as a leading player in shaping Asia’s technological landscape, global specialists in low voltage management systems, Socomec India said. With its highly competent population coupled with their strong educational foundation, Sri Lanka has thriving potential to capitalize on emerging opportunities in digitization, particularly to lead in data center expertise. “Today one of the most explosive growth is experienced by data cente

Investors to engage in IPOs and equity transactions in seamless manner

Four banks are set to offer seamless internet banking transactions to all investors to engage in Initial Public Offerings (IPOs) and equity transactions through the successful integration of the “Central Depository System” (CDS) with LankaPay Online Payment Platform. “I am delighted and excited to announce that the team of LankaPay has successfully integrated the “Central Depository System” (CDS) with LankaPay Online Payment Platform, marking

Corporate earnings hit new recent high in 4Q23

The corporate earnings of Sri Lanka’s public quoted companies hit a new recent high of Rs.183.1 billion in 4Q23, nearly doubling from an year ago, according to Capital Alliance (CAL). In the March quarter, the corporate earnings of listed entities rose by 90 percent on a year-on-year (YoY) basis and from Rs.137.4 billion recorded in the previous quarter. “… a 41 percent YoY reduction in net finance costs, amidst declining interest rates, improv

Chilaw Plantations calls for EOI to establish ‘tourist complex’

The Puttalam district will see the addition of a new tourism project, with Chilaw Plantations Limited (CPL) calling for proposals to establish a ‘tourist complex’. The regional government-owned plantation company yesterday called for Expressions of Interests (EOI) and project proposals, inviting Sri Lankan companies to come in as an investor for the joint venture. The proposed complex will occupy a 20-acre block of the Unamoona division of Karati

India signs US $ 100bn free trade deal with four European nations

BBC: India has signed a free trade agreement (FTA) with a group of four European countries that are not members of the European Union. The deal with the European Free Trade Association (EFTA) will see investments in India of US $ 100 billion (£77.8 billion), the country’s trade minister says. The EFTA is made up of Norway, Switzerland, Iceland and Liechtenstein. The announcement comes as the UK and India have been holding negotiations over an FTA

Softlogic to raise up to Rs.10bn via equity infusion

Debt-ridden Softlogic Holdings PLC (SHL) is seeking to raise up to Rs.10 billion via equity infusion, over the next one-year period. The purpose of the proposed plan is to settle the mounting debt of the company while meeting the working capital requirements. According to a stock filing by Softlogic, the proposed equity infusion plan consists of three components, which include Rs.2.98 billion via a rights issue, Rs.1.87 billion by issuing warran

Sluggish mode persists ahead of Rs.270.0bn bond auction

The secondary market remained stagnant, as market activity came to a standstill with no trade occurring during the day. The investors adopted a cautious ‘wait and see’ approach, ahead of the Rs.270.0 billion T-bond auction scheduled for March 12, 2024. The Central Bank announced the largest value issue of T-bonds through an auction, where Rs.130.0 billion, Rs.110.0 billion and Rs.30.0 billion are to be issued under 15.12.26, 15.12.28 and 15.03.

Foreign reserves expand reaching US$ 4.5bn in February

In February, official foreign currency reserves inched up as the Central Bank maintained its efforts to shore up reserves by accumulating foreign currency from banks. This accumulation comes at a time when demand for foreign currency remains subdued compared to the ample supply from remittances, tourism, and robust exports.

IMO and ILO pen new anti-harassment rules

The International Labor Organisation (ILO) and International Maritime Organisation (IMO) have released a new set of recommendations....

Korean shipbuilders overtake China in February

The Korean shipbuilders overtook China in terms of ship order intake in February to take the number one spot in the global ....

10 years on, is world any closer to finding MH370?

For the past 10 years it has remained one of the modern era’s greatest mysteries. A commercial airliner///

Exiting Expolanka, other side of coin

Sri Lanka’s number one logistics company has decided to get back to private ownership by delisting 10 percent of its share in the Colombo....

SEC calls for more active unit trust industry

The Securities and Exchange Commission’s (SEC) introduction of a regulatory framework for the operation of exchange-traded....

People’s Leasing stands in solidarity with women

People’s Leasing & Finance PLC (PLC), an organisation built on a foundation of unwavering dedication to gender equality and inclusion....

People’s Bank champions female empowerment

In a vibrant celebration of the International Women’s Day, People’s Bank held a special event at its head office in Colombo 2....

Fitch affirms Mahindra Ideal Finance at ‘AA-(lka)’

Fitch Ratings has affirmed Sri Lanka-based Mahindra Ideal Finance Limited’s (MID) National Long-Term rating of ‘AA-(lka)...

AMW Capital Leasing rating affirmed at ‘BBB(lka)’

Fitch Ratings affirmed AMW Capital Leasing And Finance PLC’s (AMWCL) National Long-Term Rating at ‘BBB(lka)’ and said the outlook...

Calls to suspend Red Sea shipping after deadly Houthi attack

The international community, including governments and the shipping industry, has come together in its universal condemnation....

DFCC Bank’s structured housing loans offer flexibility

Understanding its customers’ unique and diverse needs, DFCC Bank has introduced various repayment options for DFCC Housing...

Transforming smiles into sales

A vendor in the streets of Maradana stands with a three-wheeled cart brimming with an assortment of small, inexpensive....

Workers’ remittances surge in February to US$ 476.2 mn

Remittances from Sri Lankans working abroad surged in February, surpassing last year’s figures. Although slightly lower than the previous....

February tourism earnings record US$ 346 mn

Sri Lanka’s tourism sector continues to move towards the positive trajectory as it fetches higher earnings from international travellers...