Shipping industry urges regulatory reforms under new government

Sri Lanka’s shipping sector has called on the newly elected government, led by President Anura Kumara Dissanayake, to introduce regulatory reforms focused on digitalisation and transparency, to strengthen the country’s position as a leading maritime hub in the Indian Ocean.

September national tea sales average up US $ 0.06 from last month

The national tea sales average for the month of September 2024 recorded Rs.1,207.99 (US $ 4.04), showing an increase of Rs.19.50 and US $ 0.06, in comparison with the August 2024 average of Rs.1,188.49 (US $ 3.98).

Current deflationary conditions to persist for some time – CBSL

The Central Bank expects the consumer prices to continue to decline in the next few months, before gradually aligning with and remaining around the medium-term target level of 5.0 percent, as the administratively determined prices and improved supply conditions would put downward pressure on the general prices.

Nearly half of Sri Lankan public dissatisfied with 2024 budget priorities – Study

Nearly half of the Sri Lankan public believes that the 2024 budget allocations fail to address the country’s most pressing needs, according to National Taxpayer Perception Study - Sri Lanka 2024.

Cartoon 03.10.2024

Govt. seeks AG advice on implementing visa free scheme for 38 countries

The new government has sought the Attorney General’s (AG) advice to implement the visa free scheme for 38 countries, which was set to come into effect from October 01.

SL scores double at Condé Nast Traveller 2024 Readers’ Choice Awards

Sri Lanka’s luxury hospitality sector gained global recognition as two of its iconic properties, Ceylon Tea Trails and Galle Face Hotel,

Indices close in red after 11 sessions of gains

Indices closed in red as a result of price losses in counters such as John Keells Holdings,

Buying interest persists as rates experience continued declines

At the T-bill auction held yesterday, the Central Bank fully accepted the bills offered totalling Rs.142.5 billion. The Central Bank oversubscribed the three-month T-bill and fully subscribed the six-month T- bill. However, the one-year T-bill was undersubscribed. The weighted average yield rates saw a decline, where the three-month bill saw a decline of 43 basis points (bps) at 10.06 percent. The six-month bill also saw a decline of 35bps at a r

Greenpeace South Asia welcomes regional leadership in ratification of UN Ocean Treaty

India, Bangladesh and the Maldives have taken historic steps for the protection of our oceans at the UN General Assembly in New York, with India signing the Global Ocean Treaty, (also known as the High Seas Treaty or Agreement on Biodiversity Beyond National Jurisdiction - BBNJ) and Bangladesh and the Maldives completing their ratification process at the UN Treaty Event.

CCI to launch ‘Build SL 2025 Expo’ today

The Chamber of Construction Industry of Sri Lanka (CCI) will launch its flagship event,

Business groups congratulate President

Exporters Association of Sri Lanka On behalf of the Exporters Association of Sri Lanka (EASL), we extend our heartfelt congratulations to Anura Kumara Dissanayake on his election as President of Sri Lanka. This remarkable achievement is a testament to his dedication and leadership.

Amana Bank declares attractive dividend for the 7th successive year

Amana Bank announced its seventh successive annual dividend. This will be the highest dividend payout so far totalling Rs. 661 million which marks a doubling of the dividend payout when compared with 2023.

Dialog Axiata appoints Vish Govindasamy as Independent, Non-Executive Director

Dialog Axiata PLC announced the appointment of Vish Govindasamy to its Board as an Independent, Non-Executive Director, effective 1 October 2024.

Court issues interim injunction in favour of Dedigama Group

The Colombo Commercial High Court has issued an interim injunction order against a business entity in Kandy restraining it from carrying on an identical business under a misleadingly similar trade name to Dedigama, Dedigama Group Ltd.

Burlington English aims to empower 50,000 teachers

Burlington English has expanded into the Sri Lankan market. Leveraging its success across India and South Asia, Burlington English aims to enhance English language education in Sri Lanka

HNB unveils on-site Wellness Center with Lanka Hospitals

HNB PLC has partnered with Lanka Hospitals to open a state-of-the-art Wellness Center at its headquarters, marking a significant milestone in employee wellbeing initiatives within the banking sector.

People’s Bank relaunches enhanced services for migrant workers

People’s Bank celebrated World Children’s Day by relaunching ‘Ethera Udana Minors’ Foreign Currency Account with new features at the bank’s headquarters Branch at 1st October 2024.

Singer Sri Lanka wins FAPRA Country Award for Most Innovative Retail Concept

Singer Sri Lanka has been recognized with the Most Innovative Retail Concept Award of the Year 2023/2024 by the Federation of Asia-Pacific Retailers Association (FAPRA). This accolade underscores Singer’s exemplary response to economic challenges and its ability to innovate in an evolving retail landscape.

Tokyo Cement Group wins Gold and Silver for sustainable leadership in construction

Tokyo Cement Group recently had the honor of reaffirming its Sustainable Leadership status in the Construction Industry by winning two awards at the Annual Green and Sustainability Awards 2024.

AIA’s Director Dr. Wards speaks at Sri Lanka International Insurance Summit 2024

Dr. Christian Wards, AIA’s Director of Group Healthcare, recently addressed the Sri Lanka International Insurance Summit 2024, held at Shangri-La Colombo.

DHS Gem and Jewellery shines at BWIO Awards

DHS Gem and Jewellery was honoured as the Leading Exporter of the Year (Medium) at the Business World International Awards. Organised by the Business World International Organisation (BWIO), the event took place recently at the Taj Samudra Hotel in Colombo. The award, received by DHS Gem and Jewellery’s Managing Director, Deshamanya, Prof., Dr. Duminda de Silva, recognised the company for its outstanding contributions to the industry. The evalua

CSE hosts awards ceremony for Advanced Diploma in Financial Markets

The Colombo Stock Exchange (CSE) recognized the achievements of students from batches seven and eight of the Advanced Diploma in Financial Markets (ADFM) at a ceremonial event held on 30thSeptember 2024 at the Courtyard by Marriott, Grand Sapphire Hall. This event marks another significant milestone in CSE’s ongoing commitment to enhancing financial literacy and education within the capital market, as it is the first educational qualification to

Ceylinco Life unveils more travel and adventure rewards with ‘Family Savari 18’

More adventures and travel experiences have just been announced for Ceylinco Life policyholders with the launch of the 18thedition of the life insurance market leader’s ‘Family Savari’ mega promotion, the largest promotion cum loyalty programme in the local life insurance sector.

USD selling rate drops below Rs. 300 after 15 months

The selling rate of the US dollar has fallen below Rs. 300 for the first time since June 8, 2023.

Merchandise trade account expands with faster increase in imports

Sri Lanka’s exports reached the highest levels so far this year, buttressed by the recovery seen in garment exports as of late but the deficit in the merchandise trade account expanded due to the faster increase in imports.

Construction sector expansion persists through August

Construction sector activities continued to plough ahead through August 2024, though some slowdown was seen during the month.

New government to hold in-depth discussions with IMF in US later this month

Sri Lanka’s new government, led by President Anura Kumara Dissanayake, plans to engage in detailed discussions on potential changes to the International Monetary Fund (IMF) programme later this month following a review.

Treasury Secy, CB Governor retained

The new government has decided to retain both Central Bank Governor Nandalal Weerasinghe and Finance Ministry Secretary Mahinda Siriwardana in this interim period in order to avert any disruptions in relation to IMF programme in prioritising stability.

Hulangamuwa, Prof. Fernando appointed as President’s economic advisors

President Anura Kumara Dissanayake has appointed Ceylon Chamber of Commerce (CCC) Chairman Duminda Hulangamuwa and Sri Jayewardenepura University Professor Dr. Anil J. Fernando to key advisory positions to assist him on economic and financial matters.