IMF review for Sri Lanka delayed

The next review of the International Monetary Fund (IMF) will be delayed, the Central Bank confirmed on Friday.

SLASSCOM visits Indian Institute of Technology Madras

Sri Lanka Association for Software and Services Companies (SLASSCOM) recently organised an industry visit to the prestigious Indian Institute of Technology Madras (IIT Madras), Pravartak Research Park, marking a pivotal step in strengthening the ties between Sri Lanka’s knowledge and innovation (IT&BPM) industry and one of India’s foremost technological institutions.

Metropolitan and People’s Micro Commerce to boost SME business

Metropolitan Technologies (Pvt.) Ltd has entered into a strategic partnership with People’s Micro Commerce Ltd (PMC) to support small and medium enterprises (SMEs) in Sri Lanka.

Browns Hotels & Resorts leads mangrove conservation

In a significant step towards environmental conservation, Club Hotel Dolphin, Waikkal, part of Browns Hotels & Resorts, launched a one-of-a-kind awareness stamp in collaboration with the Postal Department of Sri Lanka, coinciding with the World Tourism Day.

Fitch assigns National Development Bank’s Basel III subordinated debt ‘BBB(EXP)(lka)’

Fitch Ratings has assigned National Development Bank PLC’s (NDB, A-(lka)/Stable) proposed Sri Lankan rupee-denominated Basel III-compliant subordinated debentures of Rs.5 billion an expected National Long-Term Rating of ‘BBB(EXP)(lka)’.

Interior and Product Design Exhibition returns at SLDF 2024 as creative industries surge and festival marks 15 years

From November 07 to 10 at Cinnamon Life City of Dreams in Colombo, the Sri Lanka Design Festival’s (SLDF) 15th edition, themed ‘Innovation Island’, unfolds a business-to-business commercial programme alongside an inspiring public programme of immersive workshops, thought-provoking exhibitions and visionary talks led by local and global creative icons.

Toastmasters Int’l District 82 marks 100-year legacy with CSE bell ringing

District 82 of Toastmasters International, in collaboration with the Colombo Stock Exchange (CSE) recently rang the bell in honour of Toastmasters International’s 100-year legacy.

SLT-Mobitel with TM Forum to host inaugural TelcoNEXT event

SLT-Mobitel will make history as it hosts Sri Lanka’s first-ever event by TM Forum, the leading global alliance of telco and tech companies.

Got trapped in a digital scam? 5 smart steps to secure yourself quickly

As shoppers start to spend more digitally, the fraudsters actively seek vulnerable shoppers for financial scams. The emerging digital payment frauds can catch even the most cautious users by surprise.

People’s Credit cardholders get special offers at Havelock City Mall

People’s Bank joined hands with Havelock City Mall as the official banking partner for the mall’s first anniversary celebrations.

Union Bank recognised with ISO 27001:2022 certification

Union Bank was recently recognised with the ISO 27001:2022 certification from the International Organisation for Standardisation (ISO) for its commitment to maintaining information security.

Union Assurance crowned as Best Digital Life Insurer of Sri Lanka 2024

Union Assurance was awarded as Best Digital Life Insurer – Sri Lanka 2024 at the Global Business & Finance Magazine Awards.

Seylan Bank relocates H’tota branch

Seylan Bank recently relocated the Hambantota branch.

Vallibel Finance unveils latest branches in Tangalle and Hingurakgoda

Vallibel Finance has recently expanded its network with new branches in Tangalle and Hingurakgoda, enhancing access to financial services in the Southern and Northern provinces.

Mercantile Investments and DIMO launch leasing scheme for TATA commercial vehicles

Mercantile Investments & Finance PLC and Diesel & Motor Engineering PLC (DIMO), two leading corporations in Sri Lanka, have forged a strategic partnership through the signing of a memorandum of understanding (MOU) recently.

McDonald’s ends franchise partnership with Sri Lankan operator

McDonald’s Corporation and its Sri Lankan franchise partner, International Restaurant Systems (Pvt.) Ltd, have ended their business relationship, following a mutually agreed legal settlement, the companies said in a joint statement.

PUCSL seeks public input on CEB’s Expansion Plan for 2025-2044

The Public Utilities Commission of Sri Lanka (PUCSL) called for a public consultation this week, to review the Long-Term Generation Expansion Plan for the Ceylon Electricity Board (CEB), covering the 2025-2044 period.

Sri Lanka’s “next big step” is creditor agreement: IMF

The International Monetary Fund (IMF) has acknowledged that Sri Lanka has made significant progress in implementing reforms but emphasised that the “next big step forward” is for the island nation to reach a formal agreement with all creditors.

CA Sri Lanka’s 26th Annual Tax Oration to feature Dr. Shivaji Felix

The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) will hold its 26th Annual Tax Oration on Wednesday, October 30, 2024, 5:30 p.m. onwards, at the CA Sri Lanka Auditorium in Colombo 7.

Colombo Port City SEZ drives Sri Lanka’s growth and global business appeal

The Colombo Port City Special Economic Zone (SEZ) is rapidly establishing itself as a leading regional business hub in South Asia, offering a modern legal framework and a business-enabling environment designed for investors to thrive.

Colombo Tea Auction offering this week sees less demand and declining trend in prices

The Colombo Tea Auction this week had an offering of 5.7 million kilogrammes, which was met with less demand and often a declining trend in prices. The lower quality combined with less activity from the shippers to Iran and a cautious approach by the buyers, on account of the volatility in the currency, resulted in a bearish market sentiment, Forbes and Walker Tea Brokers said.

ASPI gains 1.7% during the week

Indices closed in green as a result of price gains in counters such as John Keells Holdings, Commercial Bank and LOLC Holdings with the turnover crossing Rs. 4.7 Bn. Crossings were witnessed in Hatton National Bank, Sampath Bank and CIC Holdings accounting for 44.9% of the turnover.

Thin volumes ahead of bond auction

The secondary market yield curve remained broadly unchanged, with thin trading volumes and subdued activity as the investors opted for a wait-and-see stance ahead of the upcoming bond auction scheduled for October 28, 2024, which will offer Rs.32.5 billion in T-bonds.

ComBank pledges support to BSL project to conserve Kayankerni marine sanctuary

The Commercial Bank of Ceylon has joined the ‘Life to Our Coral Reefs’ initiative of the Sri Lanka Business and Biodiversity Platform popularly referred to as Biodiversity Sri Lanka (BSL), pledging the full weight of its support to an effort to conserve the Kayankernimarine sanctuary located between Panichankerni and Kalkuda in the Batticaloa District. The five-year project to be conducted by BSL under the guidance of the Department ofWildlife Co

Futureworld unveils iPhone 16 in Sri Lanka

Futureworld unveiled the iPhone 16 in Sri Lanka with all the pomp and flair one would expect from an Apple franchise. Colombo’s tech-savvy elite, along with Kandy’s trendsetters, gathered to witness the live unboxing, hosted by a group of popular radio personalities.

Cargills celebrates Children’s Day at Sathutu Uyana

Cargills celebrated World Children’s Day at Sathutu Uyana, Viharamahadevi Park on October 1st, bringing together families for a day filled with joy and memorable experiences. The event featured several preschools from Colombo, Southern Province, Gampaha, and Kalutara, with children from each school entertaining the audience with singing and dance performances.

Atlas extends Sip Savi scholarship programme to support deserving children

Atlas has signed a Memorandum of Understanding (MoU) with the Department of Probation and Child Care Services under the Ministry of Women and Child Affairs recently, to extend the company’s commitment to the Atlas Sip Savi Scholarship Programme for the next five years, reinforcing its dedication to supporting underprivileged children in Sri Lanka.

David Pieris Group reaffirms commitment to environmental conservation

Demonstrating its dedication to environmental conservation, the David Pieris Group renewed its sponsorship of the hoardings displayed around Minneriya National Park for the 22nd consecutive year.

NDB Bank champions sporting excellence at NDB-MCA ‘C’ Division 50-Over League Finals

NDB Bank congratulates Nawaloka on their triumphant win at the NDB-MCA “C” Division 50-Over League Tournament 2024 Finals, held on the 29th of September 2024 at the Bloomfield Grounds, Colombo 7. With an impressive score of 265/8 in 50 overs, Nawaloka defeated LOLC, claiming the coveted NDB Trophy and emerging as the champions of this highly competitive tournament.

Cosmic by Citrus at Colombo Lotus Tower becomes premier banquet venue

For those planning to host an event that truly stands out, Cosmic by Citrus offers a venue like no other. Located at the Colombo Lotus Tower, Cosmic by Citrus holds the title of South Asia’s tallest banquet hall, providing a unique setting for product launches, conferences, training programmes, cocktails, exhibitions, weddings, private parties, and personal celebrations.