Week begins with foreign buying

The ASPI closed in red as a result of price losses in counters such as C T Holdings, Hatton National Bank and Commercial Bank with the turnover crossing Rs. 1.4 Bn. A similar behaviour was witnessed in the S&P SL20.

Mid tenures edge low as buying strengthens

The secondary market yield curve edged down on the belly of the curve, as the mid tenures continued to attract interest during the day while the long tenures did not trade mostly.

Hayleys Solar and Sampath Bank join forces to offer affordable solar loans

In a significant step towards encouraging solar power adoption island-wide, Sampath Bank PLC and Hayleys Solar, the renewable energy arm of Hayleys Fentons, recently signed a Memorandum of Understanding (MOU) to provide an easy and affordable lending scheme for Rooftop Solar PV

Fortude recognsed as a Top 10 Women-Friendly Workplace

Fortude, an enterprise and digital technology solutions provider, was felicitated as one of the Top 10 Women-Friendly Workplaces in Sri Lanka at the Satynmag AICPA & CIMA Women Friendly Workplace Awards 2024, recognizing its strong commitment to fostering a diverse and equitable work environment.

EAM celebrates 25 years as Air France KLM Cargo’s partner in Sri Lanka

On the 11th of October 2024, Expo Airline Management (EAM) celebrated 25 years as the exclusive Cargo GSA partner for Air France KLM Cargo in Sri Lanka.

Pathfinder and Sharif University host webinar on Iran - Sri Lanka relations

The Hafez Centre for Cultural Understanding (HCCU) of the Pathfinder Foundation and the Governance and Policy Think Tank (GPTT) of the Sharif University of Iran held their inaugural webinar on the theme ‘Iran - Sri Lanka Relations: Ties of the Past, Pointers to the Future held recently.

Amana Bank partners with Marina Square Uptown Colombo to offer affordable apartment financing

Amana Bank announced its partnership with Harbour Village (Pvt) Ltd to offer unique people-friendly apartment financing solution to purchase state of the art apartmentsat Marina Square – Uptown Colombo project.

HNB Finance inaugurates new Gold Loan Centre at Embilipitiya

HNB Finance announced the launch of its new Gold Loan Centre at the Embilipitiya branch at No.59, Ratnaweera Building, Main Road, Embilipitiya, as part of its continued efforts to improve accessibility and meet the increasing demand for integrated financial services around the island.

DPMC leads with locally made Bajaj motorcycles under LVA programme

David Pieris Motor Company (Lanka) Limited (DPMC) achieved a significant milestone in Sri Lanka’s automobile industry by producing motorcycles with local value addition (LVA) under the Standard Operating Procedure (SOP) introduced by the Government and the Ministry of Industries.

Oceanista Residencies, Odiliya’s latest addition to comfort living by the beach

Odiliya Residencies (Pvt) Ltd, a trusted and renowned name in offering luxury living spaces and residence, is set to unveil its latest venture by the famed beach in Panadura.

Hayleys Travels celebrates 40 years of excellence

Hayleys Travels, a fully owned subsidiary of the Advantis Group, the transportation and logistics arm of Hayleys PLC, is marking its 40th anniversary.

Hyundai elevators and escalators by Abans redefine urban mobility

The Destination Selecting System (DSS) of Hyundai elevators remains as one of the unique groundbreaking features of Hyundai elevators.

Thanzyl reappointed to PRCA Asia Pacific Regional Board

Thanzyl Thajudeen, the Managing Director of Mark & Comm Ltd, has been reappointed to the Public Relations and Communications Association (PRCA) Asia Pacific Regional Board 2024 for another two-year term.

DFCC Bank joins Oktoberfest celebration as exclusive banking partner

DFCC Bank announced its exclusive partnership with Colombo Oktoberfest 2024, positioning itself as the premier banking partner for one of the most anticipated cultural events in Sri Lanka.

WindForce selected as Subject Company for ‘CFA Institute Research Challenge Sri Lanka 2024/25’

CFA Society Sri Lanka announced that WindForce PLC has been selected as the subject company for its 18th annual CFA Institute Research Challenge Sri Lanka 2024/25.

September remittances at US$ 556mn, bringing earnings closer to normal times

The moneys from Sri Lankans working abroad continued to flow in quite robustly in September albeit some softening seen from a month ago, with a potential to bring the full year inflows by the year end at a striking distance from their former levels seen in normal times.

SL’s financial system poised for recovery with asset quality gains, stronger capital buffers

Sri Lanka’s financial system is poised for improvement, with asset quality expected to rise and capital buffers to strengthen, while risks are prudently managed, the Central Bank of Sri Lanka (CBSL) said in its Financial Stability Review 2024.

Cinnamon Life at City of Dreams to open doors tomorrow

John Keells Group is set to officially open Cinnamon Life at City of Dreams Sri Lanka tomorrow, marking the completion of the country’s largest private investment project, valued at over US$1.2 billion.

CA Sri Lanka’s 45th National Conference of Chartered Accountants kicks off today

With the outlook for Sri Lanka looking more hopeful than it had in the past few recent years, the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) gears up to engage with professionals, including young business leaders, at its 45th National Conference held under the theme ‘Marching Beyond Margins’.

CSE introduces high-yield bonds to enhance access to capital markets via debt issuances

The Colombo Stock Exchange (CSE) has introduced High-Yield Bonds, allowing companies with ratings below investment grade to raise capital by way of issuing bonds via the CSE.

Ambeon Capital transfers ownership stake in Heron Agro Products to Colombo City Holdings

Ambeon Capital PLC has transferred the ownership stake in Heron Agro Products (private) Limited to Colombo City Holdings PLC, a subsidiary of Ambeon Holdings PLC.

Sri Lanka’s external reserves just shy of US$ 6bn

Sri Lanka’s gross official reserve assets which provide a buffer against external shocks is inching towards US$ 6.0 billion, nearly three years after the usable balance fell under a mere US$ 50 million, triggering the economic crisis in early 2022.

NCCSL creates awareness on harnessing ESG for sustainable growth

Another insightful session on ‘Empowering Growth: Harnessing Environmental, Social and Governance (ESG) for Sustainable Success’ was held on October 10, 2024, at the National Chamber of Commerce of Sri Lanka (NCCSL) auditorium.

Wavenet’s Sense AI customer experience solution for banking and insurance industry unveiled

Wavenet, a global leader in AI-first digital transformation, recently co-hosted an exclusive event titled ‘Revolutionising Banking and Insurance Industries with Sense AI’ at Hilton Colombo Residences.

BOC introduces cardless withdrawal via ATM/CRM

As the undisputed No. 1 bank in Sri Lanka, Bank of Ceylon (BOC) continues to lead the financial industry with its commitment to innovation and customer-centric solutions.

DPR relaunches enhanced tax website

Continuing its legacy of innovation, DPR has relaunched the enhanced tax website with expansion of tax management offerings today, empowering clients with expert guidance and representation in tax-related matters.

Sanasa Life Insurance unveils latest Customer Experience Centre

In view of commemorating the Customer Service Week, Sanasa Life Insurance on October 10, 2024, declared open its latest Customer Experience Centre, located at No. 297, High level Road, Nugegoda.

Exterminators launches IoT Digi-Pest-Tech in South Asia

Exterminators PLC, in technical collaboration with Pest Scan BV, Netherlands and Sentario UK Limited, launched internet of things (IoT) in pest management in South Asia.

Union Assurance hosts exclusive forums for Union Bank customers

Union Assurance, Sri Lanka’s premier life insurer, continues to strengthen its bancassurance partnership with Union Bank through a series of exclusive customer forums.

Aitken Spence Travels wins double awards at SATA 2024

Aitken Spence Travels, the leading destination management company in Sri Lanka, once again showcased its commitment to excellence by securing two prestigious awards at the South Asian Travel Awards (SATA) 2024.