Fruits for lunch!
Entrepreneurship in Sri Lanka is not short of ideas. Young Nilantha Sanjeewa has come up with novel idea to provide a healthy meal at lunchtime; all fruits. At his stall in Fort, the young entrepreneur provides a portion of mixed fruits for Rs.300 and many consumers find the idea stimulating, judging from the number calling [...]
Car market shifts gears: EVs outpace used Japanese vehicles
Sri Lanka’s vehicle market is seeing a dramatic shift, just months after the government lifted the long-standing vehicle import ban in February 2025. While many expected Japanese reconditioned vehicles to flood the market once again, what actually happened is quite different: electric vehicles and brand-new Chinese cars are now taking the lead, leaving used Japanese [...]
SVAT a bone of contention for tea industry
The imposition of the SVAT scheme is likely to affect tea estate owners as exporters and factory owners want it to be deducted from growers as well. Talks between the Tea Smallholders Association, the Tea Exporters Association and the Treasury on June 30 have reached a stalemate with the only affirmation that there will not [...]
Fallout between banks and SME triggers new lending oversight unit
The resumption of the parate execution law, allowing banks to seize mortgaged properties without court approval, poses a bigger threat to remaining SMEs, business owners say, adding that banks are leveraging this law to liquidate assets at undervalued prices, often favouring select buyers and leaving original owners in major debt. Certain banks are rushing to [...]
Of myths and glory days in tourism
The story of comebacks is inherent in Sri Lanka’s tourism industry and today the expectations of achieving their potential is falling short of being gained due to the lack of adequate promotions and marketing. The industry waited for a number of years for the possibility of a global promotion campaign to kick off but just [...]
SL to establish national equal labelling framework
Sri Lanka is in the process of establishing a National Eco-Labelling Framework aimed at reducing green-washing and promoting environmentally responsible products and services, led by the Ministry of Environment. This seeks to foster sustainable consumption and production patterns through collaboration with key stakeholders, with the Sri Lanka Accreditation Board (SLAB) and the Sri Lanka Standards [...]
Southern Expressway Service Area Lease given for just Rs. 10,000!
A startling revelation in Parliament has cast fresh scrutiny over the lease of the Southern Expressway’s only rest area, “Canowin Arcade,” during the Rajapaksa administration. Minister of Transport, Highways, Ports and Civil Aviation Bimal Ratnayake disclosed recently that this facility at Welipenna had been leased on a 99-year agreement for a pittance amount of Rs. [...]
Africa beckons
Is Africa emerging as the new frontier for Sri Lankan businesses? Suddenly…..well…..suddenly there is a surfeit of local businesses setting up shop in Africa and the business pages of local newspapers are documenting this phenomenal rise in Sri Lankan investments in that continent. It even stretches to a packaging facility with the advent of Sri [...]
Big Beautiful Bill
since Donald Trump’s election as the 47th President of the US, he has consistently made headlines with his bold and unpredictable actions. His most recent initiative is the One Big Beautiful Bill Act, commonly referred to as the BBB. On Monday evening, we participated in a panel discussion on the topic: “Impact of US Tariffs [...]
Sri Lankan designer wins at Nippon Paint-sponsored awards
A Sri Lankan designer has won an award at the Nippon Paint-organised Creative Colour Awards (CCA) 2025, a global celebration of expression and purpose in spatial design. Now in its third year, CCA continues to spotlight architects and interior designers who dare to dream in colour and understand that the right palette has the power [...]
Aluthgama resigns as SLIC Group CEO
Sri Lanka Insurance has announced the resignation of its Group Chief Executive Officer, Chandana L. Aluthgama, effective August 1, 2025. Mr. Aluthgama assumed duties as the Chief Executive Officer of Sri Lanka Insurance Corporation in 2018. His leadership continued with Sri Lanka Insurance Life Ltd. following the segregation in 2024. Over his tenure, he has [...]
CA Sri Lanka on economic recovery through tax reforms
The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) recently convened its 4th Annual Economic and Tax Symposium under the theme “Tax Reforms and Economic Resilience: Driving the Nation to Progress”. The high-level forum brought together key voices from across the public and private sectors, reinforcing CA Sri Lanka’s commitment to shaping national [...]
Clogard joins Kotler’s upcoming marketing publication
Clogard, a leading and trusted oral care brand in Sri Lanka coming under Hemas Consumer brands, will be featured in the Sri Lanka & Maldives Edition of ‘Essentials in Modern Marketing’ by Kotler Impact Inc. This recognition underscores the strength and innovative nature of Hemas, and its dedication to uplifting Sri Lankan lives through purposeful [...]
Sri Lanka secures $315 m IMF tranche despite data slip
In a huge boost to Sri Lanka’s ongoing economic recovery effort, the International Monetary Fund (IMF) has authorised the release of a US$315 million tranche from the Extended Fund Facility (EFF), despite the recent reviews revealing government expenditure arrears that went unreported. During a Washington media conference on Thursday, IMF Mission Chief to Sri Lanka [...]
Sunshine delayed: Solar power usage stuck at CEB
Usage of around 10 to 15 ground mounted solar projects under Special Power Purchase Agreement (SPPA)s has been stalled by the Ceylon Electricity Board (CEB) with the CEB board have deciding to temporarily hold back until the ongoing curtailment issue especially on Sundays and Public holidays is resolved. Further, the Ministry of Energy is holding [...]
Cost of Democracy: Are We Paying Too Much for Too Little?
Election after election, promise after promise but what have we really gained? Sri Lanka continues to cycle through elections local, provincial, parliamentary, and presidential each costing billions of taxpayer rupees. In return, we elect politicians who offer little more than empty rhetoric, personal enrichment, and political theatrics. Instead of leaders who uplift the nation, we’re [...]
CEPA-ODI dialogue on Sri Lanka’s Economic Growth
A keynote policy dialogue was held at the Postgraduate Institute of Humanities and Social Sciences (PGIHS), University of Peradeniya, on June 20, bringing together leading academics, policy experts, and students. The event was jointly hosted by the Overseas Development Institute (ODI), the Centre for Poverty Analysis (CEPA), and PGIHS, University of Peradeniya, as part of [...]
TWC Capital advises Hela on major FDI deal
TWC Capital, a leading corporate finance advisory firm under TWC Holdings, successfully served as the sole financial adviser to Hela Apparel Holdings PLC on its divestment of two, running garment factories in Mawathagama and Narammala including a freehold property with a warehouse in Uhumeeya to Q Collection Pte Ltd, a Singapore-based investor backed by Bangladeshi [...]
More opportunities with 15 Conformity Assessment Accreditation
Sri Lanka Accreditation Board (SLAB), under the patronage of the Ministry of Trade, Commerce, Food Security and Cooperative Development, has marked a significant milestone with the accreditation of 15 Conformity Assessment Bodies (CABs), bolstering Sri Lanka’s quality infrastructure and opening new avenues for international trade. Announced during SLAB’s 20th Anniversary held in conjunction with World [...]
Shantha Bandara appointed President of Pharma chamber
The Sri Lanka Chamber of the Pharmaceutical Industry (SLCPI), at its 64th Annual General Meeting (AGM) held on June 27 appointed Shantha Bandara, Director/Chief Executive Officer of Sunshine Healthcare Lanka Ltd, as its new President for the term 2025/2026. He will lead the SLCPI together with the newly elected office bearers and Executive Council members, [...]
Sri Lanka’s first-ever Diving Liveaboard tourism operation
Maldives Holiday Collections Pvt Ltd, a leading liveaboard operator in the Maldives, has partnered with Sail Lanka Charter Pvt Ltd to launch the country’s first dedicated Diving liveaboard tourism experience. This revolutionary collaboration brings together two regional leaders with a shared vision to elevate Sri Lanka as a premium destination for marine tourism. The new [...]
SLIC’s largest bonus of Rs.12.5 bn to policyholders
Sri Lanka Insurance Life (SLICLL) has once again set an industry benchmark by declaring an unprecedented Rs. 12.5 billion bonus to its policyholders for the year 2024, the highest annual Life Insurance bonus in the life insurance industry. This declaration brings the cumulative bonus paid to policyholders since 2006 to Rs. 116.6 billion, the company [...]
Terrestrial Digital TV set to boost digital economy
Sri Lanka is shifting from analogue to digital TV broadcasting to modernise its infrastructure. The Ministry of Health and Mass Media, in collaboration with the Ministry of Digital Economy, has announced the launch of Sri Lanka’s transition from analogue to digital terrestrial television broadcasting—a transformative step aimed at modernising the nation’s broadcasting infrastructure and enabling [...]
Sri Lanka as an International Centre for Higher Education
Making Sri Lanka an Education Hub has been in the offing for some time. In its journey towards realising this wish, universities have to be conducive to international education, to attract foreign students, to retain local students who go abroad and to establish partnerships in research and invention, teaching and knowledge sharing. These interventions would [...]
Sri Lanka at Thai trade exhibition
Sri Lankan Food and Beverages Exporters took part in THAIFEX Anuga Asia 2025, the leading food and beverage trade show in Asia, held recently in Thailand. The event showcased Food and Beverage products of four Sri Lankan manufacturers, including three SMEs, aiming at potential buyers and distributors in Southeast Asia. Consequently, companies such as Waguruwela [...]
JXG FY25 performance reveals Rs.5.24 bn profit
JXG (Janashakthi Group), Sri Lanka’s emerging financial conglomerate, has reported a Consolidated Group Net Profit After Tax (NPAT) of Rs.5.24 billion for year ending March 31, 2025. For the 12-month period under review, the Group recorded a revenue of Rs.24.76 billion with the primary contribution coming from the investment banking arm, First Capital Holdings PLC, [...]
New contract efforts to protect migrant workers
Sri Lankan job seekers heading to West Asia and several other countries for work in the industrial and corporate sectors must now get their employment contracts certified by Sri Lankan embassies in their destination countries. This rule, introduced by the Sri Lanka Bureau of Foreign Employment (SLBFE) starting July 1, is aimed at safeguarding migrant [...]
High Cost of Trump’s Brain Drain
WASHINGTON, DC – US President Donald Trump’s attacks on Harvard University and its international students have shocked the world, not just because of their crudeness but also because of their blatant short-sightedness. For decades, leading universities like Harvard have been a cornerstone of American “soft power.” Many of the world’s brightest students have aspired to [...]
Work Is Not Well-Being
WASHINGTON, DC – My first job was in a cybercafé. I was in medical school in Nigeria, my home country, but school was not in session, as our professors were striking for higher pay. So, I secured a full-time position providing customer support to the dozens of people hunched over desktop computers. My compensation would [...]
Shah Rukh Khan to grace opening of City of Dreams
King of Bollywood, Shah Rukh Khan, is set to make a spectacular visit to Sri Lanka, gracing the highly anticipated grand opening of City of Dreams Sri Lanka on August 2, 2025, as a special guest. Popularly regarded as “King Khan”, the presence of the multi-award-winning superstar at the by-invitation grand opening party underscores the [...]
The Ethics of Carbon Pricing
MELBOURNE – In 2009, US President Barack Obama appointed Harvard Law School Professor Cass Sunstein as the administrator of the White House Office of Information and Regulatory Affairs (OIRA). Sunstein was the co-author, with the Nobel laureate economist Richard Thaler, of Nudge, a widely acclaimed bestseller showing that small changes in how choices are put [...]
Central Bank assets, liabilities increase in 2025
The Central Bank of Sri Lanka’s (CB) balance sheet has seen increases in both assets and liabilities, with a notable rise in official reserve assets and a reduction in the budget deficit in April 2025 compared to a considerable contraction in 2024. The balance sheet summarising the financial position, listing its assets, liabilities, and equity [...]
Urgent need for enforcement unit at Sri Lanka Tourism
An urgent need for an enforcement unit to control, manage and stop the influx of unauthorised foreign actors engaging and operating in illegal tourism activities is vital for the country’s economy, says a former enforcer. According to retired senior DIG of Police C.L. Ratnayake who spearheaded such a unit under the then Sri Lanka Tourist [...]
Sri Lanka’s First Interactive AI Annual Reports
Enfection Pvt Ltd, a martech innovator, has set a new benchmark in corporate communications with the launch of Sri Lanka’s first AI-powered interactive avatar agent for annual reports. The public can now experience the first of this new generation of content through People’s Leasing & Finance PLC’s 2024/25 annual report at finsightv.plc.lk. This breakthrough transforms [...]
Access to finance stalls MSME’s in Sri Lanka, says CB Governor
While the contribution of Micro, Small, and Medium Enterprises (MSMEs) to Sri Lanka’s economy represents a cornerstone of economic development that extends far beyond simple numerical metrics, access to finance remains the primary barrier to local MSMEs, says Dr. Nandalal Weerasinghe, Governor, Central Bank of Sri Lanka. Speaking at the ‘CMA Sri Lanka, MSME Development [...]
Empowering Sri Lanka’s Digital Transformation: Opportunities in Cloud Infrastructure
Sri Lanka will leverage the strengths of both the local cloud infrastructure players as well as global hyper-scalers to participate in establishing Sri Lanka’s next generation of cloud infrastructure. “We have to consider the power of the hyper-scaler driven public cloud, in terms of cost efficiency, security and innovation. The amount of investment that goes [...]
People’s Bank marks 64 years of service
People’s Bank, a pioneer in Sri Lanka’s banking and financial services industry, commemorated its 64th anniversary on July 1. Since its establishment, the bank has played a transformative role in extending formal banking services to the wider public, championing financial inclusion across the nation. Today, it continues this legacy by delivering state-of-the-art digital banking solutions [...]
Top Indian delegation discusses investment, trade opportunities
A high-powered CII (Confederation of Indian Industry) delegation of Indian CEOs representing sectors such as manufacturing, healthcare, logistics, renewable energy, education, and tourism met with Sri Lankan business leaders at the ITC Ratnadipa in Colombo on June 30 for a strategic roundtable discussion. The roundtable was organised by The Ceylon Chamber of Commerce (CCC) and [...]
Assetline Finance records strong 2024-25 year
Assetline Finance Ltd, under the financial services pillar of David Pieris Holdings (Pvt) Ltd, has delivered one of its strongest performances to date for the financial year ended March 31, 2025. The company recorded a 14 per cent increase in interest income, reaching Rs. 11.3 billion, up from Rs. 9.9 billion the previous year. Net [...]
Centre for Lean Excellence collaborates with IDB
The Centre for Lean Excellence has joined hands with the Industrial Development Board (IDB) to introduce a modern, data-driven approach to visitor engagement at the upcoming Industry Expo 2025. As part of this collaboration, the Centre for Lean Excellence has developed and provided free of charge a customised software solution designed to collect and manage [...]
Staying safe from Cyber Scams in Sri Lanka
In today’s interconnected world, cybersecurity threats are invisible yet dangerous. Modern con artists use emails, social media, and even artificial intelligence to deceive people into giving away money or personal data. In 2023, a ransomware attack wiped out four months of government data, triggered by malicious links clicked by officials with no backups to restore [...]