Promoting local brands
The Global Franchise Forum (GFF) 2025 was held for the first time in Sri Lanka at the Sheraton Hotel in Colombo recently where buyers and suppliers of brands met (see picture by M.A. Pushpa Kumara).
Women want job security, tariffs’ crisis affect 6 m dependents
Women working in Sri Lanka’s key export industries numbering nearly 1 million are likely to face job cuts and loss of incomes if the 44 per cent US tariffs imposed on the country comes into effect at the end of the 90-day pause. Women in Sri Lanka are employed in some of the main industries [...]
Forex bottleneck deters foreign firms from MCB listing
Over 20 companies have expressed interest in listing on the Dollar Board of the Colombo Stock Exchange (CSE), but major exchange control red tape is preventing them from doing so, top officials said. Those companies wishing to raise capital through the dollar board, or better known as the multi-currency board (MCB), can only repatriate 60 [...]
Sri Lanka driving SOE reforms through necessary legislation
The Government is accelerating its process of State-Owned Enterprise (SOE) reform through the introduction of a Public Commercial Businesses Bill that will establish a legal framework to ensure effective management, financial discipline, and transparency. The Cabinet of Ministers has provided policy endorsement to the draft bill which is being done under the direction of the [...]
Next IMF instalment likely in June 2025
The International Monetary Fund (IMF) is set to disburse around US$ 344 million, the fifth tranche of Extended Fund Facility for Sri Lanka, after reaching the staff level agreement on economic policies following the conclusion of the Fourth Review of reform programme. This review of Sri Lanka’s bailout programme is likely to go before the [...]
CAL eyes Africa, Southeast Asia and South Asia
Three years after setting up its first foreign branch in Bangladesh, Capital Alliance Holdings Ltd (CALH), a Sri Lankan investment bank expanding to Kenya and the wider African region, is also looking at Southeast Asia and South Asia after its Rs.1.58 billion initial public offering (IPO), company officials said. Nearly half of the IPO proceeds [...]
SEC to launch capital market master plan
The Securities and Exchange Commission (SEC) will unveil its capital market master plan this month, top officials said. The plan is seeking approval from the government, they said noting that it matches with the overall government policy and vision. The plan includes regulatory and development initiatives to take the capital market to the next level, [...]
PB expecting ‘solid year’ in 2025
People’s Bank (PB) has realised a comfortable first quarter 2025 results, the ‘best ever results in its 64-year-old history’, Clive Fonseka, CEO/General Manager of People’s Bank said. Responding to a recent Fitch report titled “Sri Lankan state banks’ capital vulnerable despite profit gains, Mr. Fonseka told The Sunday Times Business that they categorically rejected the [...]
Tea: Fallen from grace
It was an innocuous-looking news item on an Indian news website that drew my attention to the plight facing Sri Lanka’s tea industry. The headline read: ‘India surpasses Sri Lanka to become the second largest tea exporter.’ What has happened to Sri Lankan tea known the world over as a reputed brand and labelled as [...]
FTAs: Substitute for free trade?
Our discussion last week on ‘Free Trade Agreements (FTAs) as a missed opportunity for Sri Lanka over the past 25 years’ has sparked significant curiosity and raised several important questions. One such question I would like to explore today is: Can FTAs be an alternative approach to adopt instead of fully committing to free trade? [...]
SL can become a regional leader in sustainable finance
Sri Lanka is gaining momentum in sustainable finance, with a strong investor appetite for environmentally and socially responsible investments leading to a promising future for GSS+ products, potentially attracting international capital and fostering a resilient economy. With potential issuers interested in GSS+ Bonds, Sri Lanka is poised to become a regional leader in sustainable finance, [...]
Govt. urges energy imports, fair market access to reduce trade gap with US
The Government is planning to import energy and fair access to markets in a bid to reduce the trade deficit with the US. Sri Lanka has officially submitted a package of comprehensive trade reform proposals to the US in an attempt to narrow the growing US-Sri Lanka trade deficit and eliminate restrictions on imports. The [...]
Millions of rupees wasted as Kompanna Veediya Flyover Project hits a wall
Construction work of the fly over above the railway track near the Justice Akbar Mawatha in Kompanna Veediya initiated in 2020 has been hanging fire compelling the government to pay delayed charges amounting to over Rs. 400 million to contractors. Transport Minister Bimal Rathnayake, during a recent site visit, said the government has had to [...]
Global brands eye Sri Lanka to establish franchises
While Sri Lanka’s economy is showing signs of equilibrium and moderate progress with tourism experiencing a period of recovery and growth, globally renowned brands are eyeing Sri Lanka to establish franchises. Last Sunday, the Global Franchise Forum (GFF) 2025 was held for the first time in Sri Lanka at the Sheraton Hotel in Colombo. Franchise [...]
Iconic business awards return as ‘CIMA – JXG Pinnacle Awards 2025’
The ‘CIMA – JXG Pinnacle Awards’, in collaboration with AICPA & CIMA Sri Lanka makes a comeback after 18 years and is scheduled for June 11 at Cinnamon Life. Originally initiated by Janashakthi Insurance, the event now returns under the leadership of JXG (Janashakthi Group) — Sri Lanka’s emerging financial conglomerate, the company said in [...]
Union Bank profit at Rs. 285 m in Q1 2025
Union Bank of Colombo PLC results for the first quarter 2025 has seen a 14 per cent year-on-year increase in net loans, underscoring the bank’s momentum in lending and its commitment to supporting retail, SME, and corporate sectors. The bank posted a profit before tax of Rs.285 million, maintaining earnings stability despite income pressures and [...]
HSBC launches project to empower rural English Language Teachers
HSBC Sri Lanka, in partnership with the Ministry of Education, the Sarvodaya Institute of Higher Learning (SIHL), and the Postgraduate Institute of English (PGIE) of the Open University of Sri Lanka (OUSL), recently officially launched the Skills Enhancement of Rural English Language Teachers (SERELT) project—an ambitious and transformative initiative aimed at strengthening English language education [...]
Ceylinco Life appoints Samitha Hemachandra as a director
Ceylinco Life this week announced the appointment of top marketing professional Samitha Hemachandra as an Executive Director on the company’s board of directors and his concurrent promotion to the position of Chief Operating Officer. Mr. Hemachandra joined Ceylinco Life as a Brand Manager in 2000 and held many senior management positions in the company prior [...]
Fitch assigns SLIC with a Stable Outlook
Sri Lanka Insurance Life (SLIC Life) has been assigned an ‘A+(lka)’ National Insurer Financial Strength (IFS) Rating by Fitch Ratings, with a Stable Outlook. Among Sri Lankan life insurers rated by Fitch, SLIC Life holds the highest assigned rating at present. This recognition underscores the company’s financial stability, strong market presence, and commitment to delivering [...]
INSEE Ecocycle and Sri Lankan authorities dispose confiscated heroin
INSEE Ecocycle Lanka (Pvt) Ltd recently collaborated once more with the Sri Lanka Police Narcotics Bureau (PNB) and the National Dangerous Drugs Control Board (NDDCB) to responsibly dispose of 494.048 kg of confiscated heroin via co-processing technology. This marks the fourth collaboration between INSEE Ecocycle and law enforcement authorities for the destruction of such substances, [...]