Forum for village products
On Tuesday, the Ceylon Chamber of Commerce and GIZ showcased the journey of 15 passionate rural women entrepreneurs from Hambantota producing sustainable products. It was under a programme, held over six months, and initiated by Good Market. Picture by M.A. Pushpa Kumara shows one such product.
West Asian missiles hurt Sri Lankan exports
Exporting to West Asia has become a big risk today with a war ravaging between Israel and Iran with fears of closure of all ports in the region and the Strait of Hormuz as some exporters say new shipments to Dubai and Iran have been withheld. Sri Lanka’s key exports to Iran and the West [...]
Stalled Beira Lake Project revived after past failures
The Government has made a fresh attempt to revive a much-talked-about mixed development project on a prime piece of land at No. 40, D.R. Wijewardena Mawatha, Colombo 10, following a series of failed attempts at attracting investors in the past decade by successive governments. The property, which covers 3 roods and 13.85 perches of land [...]
CB probes two EPF employees
Sri Lanka’s banking regulator is probing two of its employees, following the Securities and Exchange Commission (SEC) suspension of three stockbrokers for allegedly violating securities laws, banking sources said. Two dealers at the Employees Provident Fund (EPF) department of the Central Bank (CB) are under investigation, they added. This is in connection with the SEC [...]
Customs collects Rs. 165 bn from vehicle imports
Sri Lanka Customs has collected approximately Rs. 165 billion in revenue from vehicle imports alone since the government lifted the ban on automobile imports from February 1, 2025. Additional Director General of Customs Seevali Arukgoda said the department is on track to exceed its 2025 revenue target of Rs. 2,115 billion. By mid-June, overall Customs [...]
New tech for e-KYC
Sri Lanka’s national credit agency is now working on a solution for national e-KYC (electronic Know Your Customer), top officials said. Central Bank officials told The Sunday Times Business that the Credit Information Bureau (CRIB) has had two meetings with them on this matter, to obtain preliminary permission, and a third meeting is scheduled to [...]
Stock market braces for impact from Gulf war
The conflict in the Gulf will impact fuel prices, exports, and foreign exchange, with the Sri Lankan stock market feeling the brunt if the conflict escalates, analysts say. Analysts pointed out that it all depends on whether the war will escalate and how it will pan out. One analyst pointed out that as of now, [...]
Death in the skies
Ironically, the trio and I were on one page on Thursday morning: concern for helpless people in West Asia affected by the war in Gaza, Iran and Israel (with Israel firing the first shots at Tehran). This morning, Aldoris, the choon-paan karaya, came down the lane incessantly playing his tuk-tuk’s signature tune to be greeted [...]
Mind the connectivity!
At the dawn of the 20th Century, Pelawatta – a rural enclave in Sri Lanka’s Kalutara District – remained largely secluded from the outside world. The island was still under British rule, with Independence nearly half a century away. The rural village of Pelawatta remained largely disconnected from any urban centre, with the nearest town, [...]
IMF Deputy MD urges sustained reforms amid Sri Lanka’s recovery from debt crisis
Visiting IMF First Deputy Managing Director Gita Gopinath on Monday commended Sri Lanka’s “impressive progress” following its historic sovereign default but cautioned that the nation must avoid slipping into the familiar past of reform fatigue and economic mismanagement. Speaking at a high-level conference at the Shangri-La Hotel, Colombo, Dr. Gopinath announced Sri Lanka’s economic recovery, [...]
CIMA – JXG Pinnacle Awards 2025 crown Sri Lanka’s corporate trailblazers
The CIMA – JXG Pinnacle Awards 2025 organised in collaboration with JXG (Janashakthi Group) and AICPA & CIMA Sri Lanka, was held recently in Colombo Building on the legacy established by Janashakthi Insurance, the awards, previously celebrated as among Sri Lanka’s most prestigious business recognition platforms, have returned after an 18-year break and successfully resumed [...]
Outcome-based procurement crucial for the country’s digital economy
A significant transformation in Sri Lanka’s public procurement system for the specific case of digital solutions and services is essential for advancing the country’s digital economy, according to Dr. Hans Wijayasuriya, Chief Advisor to the President on Digital Economy. He emphasised the need to embrace new contracting arrangements, particularly outcome-based procurement, which shifts the buyer’s [...]
From Debt to Dignity: Why Sri Lanka must declare war on corruption
In April 2022, Sri Lanka made headlines for all the wrong reasons: fuel queues snaked across cities, power cuts darkened homes, and the country officially defaulted on its debt—something once unimaginable. Some blamed COVID-19. Others pointed fingers at international lenders or global oil prices. But beneath these surface shocks lies a deeper truth the IMF [...]
hSenidBiz sees strong FY2025 quarter
hSenid Business Solutions PLC (hSenidBiz) has reported its financial results for the fourth quarter of FY2025, with a strong topline performance and continued margin improvements. Total revenue for the quarter reached Rs.499.8 million, reflecting a year-over-year growth of 15 per cent in rupee terms and 22 per cent in constant currency (USD) terms. The growth [...]
Resus Energy connects 5.0 MW Solar PV power plant to national grid
Resus Energy PLC, a forerunner in renewable energy, recently connected a 5.0MW ground mounted solar PV power plant to the national grid. Built at a cost of over Rs. 750 million with state-of-the-art equipment encompassing tier-1 solar PV panels and top-of-the-range auxiliary equipment, the plant is expected to generate about 10 million units of electricity [...]
David Pieris Renewable Energy’s loan partner Sampath Bank
David Pieris Renewable Energy (Pvt) Ltd (DPRE), a member of the David Pieris Group, has entered into a partnership with Sampath Bank PLC to make solar energy more accessible and affordable across Sri Lanka. The collaboration introduces a series of exclusive green loan facilities tailored for individuals and businesses eager to adopt solar power solutions [...]
Eduzone marks 15 years of charting Scandinavian Education Pathways
Eduzone Consultants (Pvt) Ltd celebrates its 15th anniversary in 2025, as Sri Lanka’s first educational consultancy to champion higher education opportunities in Sweden and Finland since 2010. Over the years, Eduzone has successfully processed applications for several thousand Sri Lankan students, many of whom have now gone on to become Swedish and Finnish citizens. The [...]
Raw material ban drains Sri Lanka’s palm oil-based product earnings
Sri Lanka would incur a potential loss of around US$ 40 million due to the ban on the importation of crude palm oil (CPO), which is used in the production of bakery fats and margarine for export mainly to Indian market, companies operating under the Board of Investment (BOI) reiterated. The CPO imports were banned [...]
Disrupt Asia to pivot SL as a hub for innovation, entrepreneurship
The Disrupt Asia 2025 event, scheduled for September 17-20, aiming to transform Colombo into a vibrant centre for innovation, will kick off with Venture Engine, Sri Lanka’s leading start-up funding platform, which opened registrations on June 18, providing start-ups with mentorship and exposure to investors. This year’s Disrupt Asia hopes to attract a diverse group [...]
Design-thinking drives every aspect of innovation, says ASUS regional VP
While ASUS was designated as the number one consumer notebook company in Sri Lanka last week by the International Data Corporation quarterly tracker, the brand’s cutting edge technology and innovation has led to its design-thinking aspect, according to Dinesh Sharma, Vice President, Commercial PC and Smartphone, ASUS India, Sri Lanka and Nepal. Speaking at an [...]
DFCC Bank offers 100%-funded Global Education Loans
DFCC Bank PLC has announced the launch of a 100 per cent funded student loan programme in a strategic partnership with ACH Education – with a unique feature where a student can complete the overseas education, get a job – after four years – and only then start repaying the loan. With global education increasingly [...]
The Sources of Global Economic Uncertainty
LONDON – The recent surge in government bond yields has forced business leaders and investors around the world to confront a critical question: Should corporations lock in debt at current interest rates before they rise further? At the same time, higher capital costs and persistent market volatility are compelling investors to reassess their portfolios. The [...]
LOLC General Insurance awarded ‘Company with Great Managers 2024’
LOLC General Insurance, a leading player in Sri Lanka’s Insurance industry, has been recognised as a ‘Company with Great Managers for 2024’ at the Great Manager Awards 2024, hosted by the Colombo Leadership Academy in collaboration with People Business for Leadership Excellence. Participating in the programme for the first time, LOLC General Insurance secured this [...]
People’s Bank honoured for Data Excellence
People’s Bank has received top honours at the CRIB CEO’s Forum and Institutional Rating Awards Ceremony 2025, held recently at the Cinnamon Grand, Colombo. This event was organised by the Credit Information Bureau of Sri Lanka (CRIB), the bank said in a media release. People’s Bank was recognised for its outstanding contribution to data quality [...]
Yamaha motorbikes return to Sri Lanka
Associated Motorways (Pvt) Ltd (AMW), the sole distributor for Yamaha in Sri Lanka and a trusted name in the country’s automotive landscape for over 75 years, has announced the return of Yamaha motorcycles and scooters to the local market. This long-awaited relaunch followed the Sri Lankan government’s decision to lift the import ban ending a [...]
Cashless economy reflects a country’s financial literacy
With Sri Lanka on the drive towards digital transformation and with tourism booming hand-in-hand, the country’s financial literacy can only be reflected through a cashless economy, says Stephen Karpin, Regional President, Asia Pacific, Visa. Attending an event last week to sign an MoU between Visa and the Sri Lanka Tourism Promotion Bureau (SLTPB) held at [...]
A currency that works for all: Why we need balance, not strength
In the ongoing debate on Sri Lanka’s currency direction, much of the noise focuses on the strength of the rupee. A stronger rupee, many argue, will ease import costs, tame inflation, and bring short-term consumer relief. While this narrative may be politically expedient, it risks overlooking the deeper structural consequences for Sri Lanka’s export economy—the [...]
Maliban CSR restoring hope for people with disabilities
For over seven decades, Maliban Biscuit Manufactories (Pvt) Limited, has been a company celebrated for leading impactful initiatives that inspire goodness and now unveils its latest meaningful step. HumaniTill is a timely new initiative by the Maliban Jeewithaloka Programme, aimed to be a source of strength and hope to Sri Lankans who embody unyielding courage, [...]
IMF urges swift action to clean up Public Procurement System
The International Monetary Fund (IMF) has urged Sri Lanka to enact an effective legal framework in public procurement soon as the current tender process provides sufficient opportunity for corruption, wastage, and irregular decision-making. The call is under the umbrella of a broader IMF-supported governance reform agenda for encouraging transparency and accountability in the public financial [...]
Sri Lanka’s first ‘Adopt-a-Street’ initiative
In recognition of World Environment Day 2025 and under this year’s global theme, Beat Plastic Pollution, the Green Resource Collection Association (GRCA) launched Sri Lanka’s first-ever Adopt-a-Street initiative in Pamunugama village. The pilot project was rolled out on Pamunugama 2nd street, with active participation of the local community, with the support of international boutique consultancy [...]
Nestlé Chefs’ Hat Competition recognises SL’s top talent
Nestlé Professional Sri Lanka, in partnership with the Chefs Guild of Lanka, last week relaunched the Nestlé Golden Chefs’ Hat Competition – an island-wide culinary competition focused on developing up-and-coming culinary talent in the hospitality industry. Nestlé Professional also collaborated with the Sri Lanka Hospitality Graduates Association and Chefs Guild of Lanka to launch the [...]
CSE’s Central Counterparty for Equity Transactions next month
The Colombo Stock Exchange (CSE) is set to launch a Central Counterparty (CCP) framework next month, marking a significant advancement in the evolution of Sri Lanka’s capital market infrastructure. This move is aimed at enhancing the safety, efficiency, and transparency of the market, ensuring the smooth settlement of trades, according to a CSE media release. [...]