Lion Brewery looks to increase exports with SL’s first craft beer innovation centre

Lion Brewery (Ceylon) PLC, the leader in Sri Lanka’s brewery market, has unveiled a groundbreaking Rs.4 billion state-of-the-art craft beer innovation centre, marking a first for the country.

People’s Leasing & Finance sees 42.4% profit growth for 1H25

People’s Leasing & Finance PLC reported a topline income of Rs.12,676 million, resulting in a profit of Rs.1,566 million.

Cinnamon Hotels launches hospitality training academy with top world universities

Cinnamon Hotels of the John Keells group, in partnership with the Swiss Hotel Management Academy (SHMA), this week officially launched the operations of its hospitality education initiative branded Cinnamon Hospitality Academy.

Blue economy emerges as anchor for Indo-Lanka collaboration: Dr. Bana

Sri Lanka’s efforts to rebuild its economy are opening new avenues for collaboration with India, with the blue economy identified as a high-potential area for mutual benefit, the Indo-Sri Lanka Chamber of Commerce and Industry (ISCCI) said.

Cartoon 05.12.2024

ASPI reaches an all-time high

Indices closed in green as a result of price gains in counters such as John Keells Holdings, Commercial Bank and Sampath Bank with the turnover crossing Rs. 5.2 Bn.

Auction yields of 3m and 1yr bills held steady

The Central Bank conducted the weekly T-bill auction yesterday, raising Rs.192.5 billion and fully accepting the total offered.

National Savings Bank records Rs 25.5bn PBT for 3Q2024

National Savings Bank showcased robust financial performance in the third quarter of 2024, propelled by the short-term advantages of liability repricing and a surge in fee-based income.

Aitken Spence wins Grand Slam honour at Best Corporate Citizen Sustainability Awards

Aitken Spence PLC walked away with the coveted Grand Slam Award at the 21st Best Corporate Citizen Sustainability Awards organised by the Ceylon Chamber of Commerce, at the Cinnamon Grand Hotel Colombo on 3rd December.

DIMO Academy and HomeServe Germany forge strategic partnership to elevate vocational education

DIMO Academy, the vocational training arm of DIMO recently announced a partnership with HomeServe Germany, a leading HVAC company offering installation, home repair, maintenance, and insurance services.

JICA and EDB jointly introduce Sri Lankan ICT companies to Japanese market

The Sri Lanka Export Development Board (EDB) in collaboration with Japan International Cooperation Agency (JICA) is focused on expanding Sri Lanka’s ICT/BPM sector by introducing local tech companies to the Japanese market.

Raffles reveals new plans celebrating anniversary

Raffles Consolidated (Pvt) Ltd celebrated its 25th anniversary on December 1, 2024. To mark this momentous occasion, the company revealed a number of significant plans made to usher in a new era of growth in the coming years.

CEAT Kelani wins nine Golds at international quality convention

CEAT Kelani Holdings has won nine Golds and a Silver at the 2024 International Convention on Quality Control Circles (ICQCC), emphatically reaffirming the company’s obsession with quality improvement.

WSO2 expands Executive Team to advance customer adoption worldwide

WSO2 has announced the addition of two executives: Jeff Paul and Isabelle Mauny.

ComBank partners with Colombo shopping festival to enhance shopping experience

Commercial Bank of Ceylon has been announced as the Official Banking Partner for the 38th edition of the Colombo Shopping Festival, the annual event organized by Aitken Spence Conventions & Exhibitions, a division of Aitken Spence Travels.

Sri Lanka–Bangladesh Business Council holds inaugural AGM

The Sri Lanka–Bangladesh Business Council (SLBBC) of The Ceylon Chamber of Commerce held its 1st Annual General Meeting (AGM) on November 28 at the Hilton Colombo Residence.

Sri Lanka’s merchandise export performance up 18% in October

Sri Lanka’s merchandise export earnings in October 2024 climbed to US$ 1.097 billion, marking an 18.22 percent year-on-year increase, driven by higher earnings from key export categories, including apparel and textiles, tea, rubber-based products, coconut-based products, and spices and concentrates.

October private credit expands by Rs.74bn taking total to Rs.505bn

Sri Lanka’s commercial banks saw their total outstanding credit to the private sector expanding unabated by another Rs. 74.3 billion in October 2024.

Proposed Imputed Rental Income Tax could clash with housing policy, KPMG tax expert says

The proposed Imputed Rental Income Tax next year could encourage a trend among Sri Lankan people to rent homes over homeownership which directly conflicts with the country’s housing policy, according to a KPMG tax expert.

Chaudhary steps into Deputy Chairman role at Union Bank

Union Bank of Colombo yesterday announced the appointment of Nirvana Chaudhary, Non-Independent Non-Executive Director, as the Deputy Chairman of the Bank, effective 2 December.

November tourist arrivals hit target but miss optimistic goal of luring 198,069 visitors

Sri Lanka welcomed 184,158 international visitors in November, achieving the conservative scenario target set for the month. However, it fell short of the optimistic target of 198,069 arrivals.

Profit-taking persists as yield curve rises slightly

The Secondary market yield curves edged up slightly yesterday as investors opted to maintain a profit-takingstance for the 2nd consecutive day, continuing from the previous day amidst moderate trading volumes.

Net foreign inflows after six sessions

The ASPI closed in green as a result of price gains in counters such as LOLC Holdings, Central Finance Company and Royal Ceramics with the turnover crossing Rs. 3.2 bn.

Union Assurance delivers strong 3Q with 16% GWP increase, Rs.5.6bn claims paid

Union Assurance, Sri Lanka’s premier Life Insurance provider, has posted impressive financial results for the third quarter of 2024, reflecting substantial growth and operational excellence.

Sinopec strengthens SL’s energy sector with Energy Talent Growth Programme co-launch

Sinopec, a global leader in the energy sector, has marked another significant milestone in Sri Lanka with the co-launch of the Energy Talent Growth Programme in Colombo and Beijing.

ACCA celebrates 120 years and counting

The Association of Chartered Certified Accountants (ACCA) will mark a significant occasion this weekend as it celebrates 120 years since its creation.

Union Bank appoints Dr. Dharmasri Kumaratunge to board

The board of directors of Union Bank announced the appointment of Dr. Dharmasri Kumaratunge as an Independent, Non-Executive Director.

Curtin launches new Colombo campus

Curtin University officially launched its newest global campus, Curtin University Colombo, at a gala event in Sri Lanka.

Transforming industries for economic revival in Sri Lanka

Sri Lanka, an island nation with rich resources and a strategic location, is at a critical juncture in its economic development. To recover sustainably from the recent economic crisis, the country needs a strategic approach to revitalise its industries and pave the way for sustainable growth.

Nestlé promotes regenerative agricultural practices in coconut value chain via Coconut Development Plan

As part of the Nestlé Coconut Development Plan – the ‘Good Food Good Life’ company partnered with the Coconut Cultivation Board of Sri Lanka (CCB) to conduct a two-day training programme for coconut farmers. Conducted at the CCB’s Coconut Development Training Centre in Lunuwila, the programme was focused on educating the coconut farmers on the implementation of regenerative agriculture practices in their farms, benefiting the farmers in improvin