Products of female entrepreneurs
A Bank of Ceylon (BOC)-sponsored trade fair showcasing products of female entrepreneurs was held in Fort this week. Pic by Eshan Fernando
Ceasefire holds sway in exports to West Asia
Sri Lanka’s exports are resuming their shipments to the West Asian region as the ceasefire between Iran and Israel was holding after the 12-day war but only time will tell. With warnings by the US of the possibility of attacks resuming between the two countries, exporters in Sri Lanka say it could take a couple [...]
Digital ID vendor selection this month
The Request for Proposal (RFP) to select a vendor for implementing the Sri Lanka Unique Digital Identity (SLUDI) system will be completed within this month, top officials said. The Joint Project Management Committee (JPMC) for the project convened for the first time on June 17 to review and monitor the project’s progress. Following the meeting, [...]
Global shipping lines relieved over ceasefire
While the whole world, including Sri Lanka, has been witnessing the Iran-Israel war, speculation was rife as to whether the Strait of Hormuz will be temporarily shut down due to the conflicts between the two countries. Now that the two countries have agreed on an indefinite ceasefire since last Tuesday, the global shipping industry sees [...]
Congestion at Colombo Port builds up
Congestion at the Colombo Port has caused some vessels to bypass due to berthing delays of 2-3 days attributed to lack of adequate deep draft capacity and adverse weather leading to a 30 per cent drop in productivity and slowing down of turnaround time. Some vessels have rescheduled their arrival at the Colombo Port by [...]
President Dissanayake to visit Maldives
President Anura Kumara Dissanayake will make a 3-day official visit to the Maldives in the last week of July, his sixth overseas tour after assuming office. The trip coincides with Sri Lanka-Maldives diplomatic relations being marked on July 29 and follows the Maldives’ Independence Day on July 26. The discussions will centre on the development [...]
Star Garments opens new apparel factory in West Africa
Star Garments Group, a powerhouse in Sri Lanka’s apparel industry and part of Charles Komar & Sons, recently opened its new textile manufacturing facility at the Adétikopé Industrial Platform (PIA) in Togo. The ceremony, presided over by President of the Council of Togo Faure Gnassingbé, marks a transformative milestone for both the company and West [...]
Tourists and local communities
It was that time of the day when Aldoris, the choon-paan karaya, drove his tuk-tuk down the lane with a vehicle filled with breakfast food. “Kohomada (How are you),” he asked the trio. “Api hodin innawa. Mata aranchi ela-valu mila adu wela kiyala. Eka oyata hondai nae (Well, we are fine. I am told that [...]
“Smoke and mirrors”
The Sri Lankan economy has recently shown higher growth rates than those projected by the IMF and the World Bank. This surge in optimism, even amid a challenging global environment, is noteworthy. However, there is a risk that such optimism could fuel political deception and misdirection, allowing us to overlook harsh realities and delay much-needed [...]
Government pushes FDI despite global, local challenges
Emerging from one of the worst economic crises in its history, Sri Lanka is fast-tracking the push to attract foreign direct investment (FDI), fuelled by far-reaching reforms under the newly passed Economic Transformation Act (ETA). The ETA, today’s most important investment law in the country, seeks to overhaul obsolete systems, streamline approval processes, and provide [...]
Building a robust AI future
The National AI Policy is at an advanced stage of preparation, having gone through extensive public consultation and adaptation to emerging opportunities and priorities, a top government official said. “Development of the policy was led by the AI Advisory Committee and will encompass among others, the key topics of AI Infrastructure, citizen centric innovation, value [...]
FinTech Summit to steer inclusivity, share knowledge
Sri Lanka’s financial network system can get at least Rs. 450 billion if one-third of the Rs. 1.3 trillion cash in circulation is diverted through digital payments, an official said. The cash in circulation in the country is high compared to the regional peers, and Rs. 450 billion in the financial system will allow the [...]
Return of Shameless Shareholder Capitalism
CAMBRIDGE – In 2019, the Business Roundtable, an association of the US’s most powerful CEOs, won widespread praise by announcing its commitment to “stakeholder capitalism,” which delivers value not only to shareholders, but also to other affected actors, such as employees and communities. Now, however, the Business Roundtable has changed its tune: its April report, [...]
NDB heralds 2024 Retail Banking Awards
This year’s ceremony was held under the theme “Quantum 2024: A Leap in Banking Excellence”, reflecting the Bank’s renewed commitment to transformation, growth, and purpose-driven leadership. The event brought together teams from across the country to celebrate milestones reached and new standards set across NDB’s retail network. Among the highly anticipated accolades of the night [...]
“CB probes two EPF employees”
Dilshan Wirasekara, Managing Director and Chief Executive Officer of First Capital Holdings PLC, has sent the following clarification with reference to the article under the above heading which appeared in The Sunday Times Business Times on June 22. “In the article, Mr. Jaliya Wijeratne is inaccurately referred to as the ‘First Capital CEO’. This is [...]
Krishan Balendra, CCC’s new chairperson
The Ceylon Chamber of Commerce (CCC) elected Krishan Balendra, chairperson of John Keells Holdings (JKH), as its new Chairperson at the 186th Annual General Meeting held on Thursday. Mr. Balendra’s father – late Ken, also served as chairperson of the CCC and similarly was also chairperson of JKH. Mr. Balendra succeeds Duminda Hulangamuwa, Country Managing [...]
ComBank crowned Best Bank in Sri Lanka by FinanceAsia
The Commercial Bank of Ceylon has been honoured as the Best Bank among Sri Lanka’s domestic banks for the 14th year by FinanceAsia, one of the world’s foremost information sources on the Asian financial markets. The Best Bank award was presented to Commercial Bank at the FinanceAsia Country Awards gala at the Conrad in Hong [...]
Tech and exports drive Sri Lanka’s corporate growth in 2025
Sri Lankan corporate sector is demonstrating resilience and growth at present, with strong export performance and a recovery in the manufacturing sector. Key sectors like exports and the IT industry are seeing strong performance in first five months 2025. Notably, the technology industry is experiencing positive employee perception in top companies, according to the Export [...]
Growth Gear – a platform poised to uplift rural communities
While Sri Lanka’s rural economy holds immense potential, with over 83 per cent of the population living outside urban areas, women in these communities often face significant barriers to economic participation. The country continues to seek inclusive growth strategies and a compelling model. It demonstrates that when women in rural areas are given the right [...]
Resus Energy Green Bond for expansion here and abroad
Resus Energy PLC, a renewable energy company in Sri Lanka, is looking at expanding to Uganda in East Africa, amidst the launch of the country’s first green bond issue, which opened on Wednesday, and was subscribed with the company saying that the funds raised will be entirely allocated to renewable energy projects. The company plans [...]
CSE to help start-ups raise capital
Two tech start-ups are in the process of being publicly listed on the Colombo Stock Exchange (CSE), top officials said. This was revealed at the Disrupt Asia 2025 launch media conference, where various institutions got together to make a better ecosystem for start-ups and small businesses in the country and the region through the Disrupt [...]
Government revives Jaya Terminal expansion
The government has reinvigorated the state machinery and streamlined official procedures to expedite long delayed operational expansion of the Jaya Container Terminal-the oldest container facility at the Port of Colombo., The new up-gradation is designed to extend and modernise the JCT. It comprises an extension in anchorage of 120 metres to extend it to a [...]
City of Dreams Sri Lanka to open on August 2
John Keells Holdings PLC (JKH) and Melco Resorts & Entertainment (MRE) have announced the opening of City of Dreams Sri Lanka on August 2. This launch marks the completion of the final components of the project, including a world-class casino, the luxurious Nüwa hotel and a premium shopping mall, the two promoters said in a [...]
LOLC’s scholarship for excellent students among account holders
LOLC Finance is recognising the outstanding performance of its young account holders by rewarding students who excelled in the Grade 5 Scholarship Examination 2024. This annual initiative is aimed at children maintaining LOLC Smart Champ and Al-Falaah Junior Minor Mudharabah Savings accounts, two unique savings products tailored to nurture financial discipline from a young age. [...]
Unit Trust Industry aims to transform saving habits
The Unit Trust Association of Sri Lanka (UTASL) has ushered in a new era with the appointment of its 2025 leadership team, headed by veteran finance professional Christine Dias Bandaranaike of JB Financials Pvt Ltd as President. This leadership transition comes at a time of tremendous growth for the industry, with unit holder numbers surging [...]