Sri Lankan industries take debilitating hit over US tariffs
Sri Lanka, alongside several competing countries in the region, is reaching out to US authorities to negotiate a further cut in US tariffs, now set at an extra 30 per cent for Sri Lanka, as they have a debilitating impact on exports. The reality is that the taxes to the US will eventually range from [...]
Support for share swaps, funds to boost start-ups
The Ministry of Digital Economy is working with the Ministry of Finance and the Central Bank to build an enabling environment for investors and attract funding for start-ups, a top official said. “We need to improve the chances of success in Sri Lankan digital start-ups. This success rate won’t be more than 5 or 10 [...]
SriLankan Airlines probe expanded to cover alleged airports’ corruption
A wide-ranging presidential investigation into enormous fraud, bribery, and procurement malpractices at SriLankan Airlines and Airport and Aviation Services (Sri Lanka) Ltd (AASL) for a 15-year period from 2010 to 2025 has been launched. The Cabinet of Ministers has approved the setting up of a Special Presidential Investigation Committee led by former Auditor General H.M. [...]
New national framework for trade negotiations soon
Sri Lanka is working towards establishing a national framework for trade negotiations, coming on top of the tough negotiations on US tariffs. “In line with the government’s policy, we have recognised the need to have a national framework for trade negotiations. Therefore, the Ministry of Trade, along with related agencies, is working towards setting up [...]
Simplified business registration process in the offing
The National Enterprise Development Authority (NEDA) under the Ministry of Industries and Entrepreneurship Development will be simplifying business registration processes in Divisional Secretariats in a bid to attract sole proprietorships and partnerships into the economic fold, top officials said. “The idea is to take away the ambiguities and cumbersome process which is complicated. Through this [...]
SOE Reforms: Rs. 8 tn loss forces state action
Sri Lanka’s underperforming state-owned enterprises (SOEs) with accumulated staggering losses exceeding Rs. 8 trillion over the past three decades, underscores the urgent need for structural reforms and efficient restructuring, especially under the IMF-backed economic recovery framework, This massive financial loss is almost equivalent to Sri Lanka’s pre-default external debt before 2022. SOE losses over the [...]
Ghosts of the past
Sometime ago in these columns I suggested that a government should resort to a two-track approach of managing the country: one track to deal with mid-to-long-term issues and a second track to cover immediate needs and fire-fighting on all current issues. This model, it appears, would be something the current administration needs to look at [...]
Stolen American jobs
When COVID-19 sparked a global health crisis, the US quickly ran short of face masks. It wasn’t just the high-grade N95s—basic cloth and surgical masks which were also hard to find. What little supply existed was mostly reserved for healthcare workers, many of whom had to reuse their masks. At the same time, the public [...]
Cashew industry in a crunch amid rising demand, bureaucratic hurdles
Sri Lanka’s strategic plan of developing its cashew industry into a cash crop—both for local consumption and for export—have been hit with a serious hitch, with players blaming bureaucratic delays and policy ambiguity for disrupting supply. With rising tourist visits, there is greater demand for cashew, which is well-loved by locals and tourists. In a [...]
Ragging: A call for moral reform in universities
“Why have we not come to the conclusion many decades ago, that education about and of the mind is a necessity, if not a mandatory requirement for every child in school?” When this question was raised at a forum developing school curricula, the panel of experts dismissed it, stating that moral development does not fall [...]
ComBank and Hayleys Agriculture promote new tech in farming
The Commercial Bank of Ceylon has partnered with Hayleys Agriculture to offer customised leasing and loan facilities to farmers investing in high-quality agricultural machinery supplied by Hayleys Agriculture, in a move designed to strengthen Sri Lanka’s vital agriculture sector through affordable access to modern equipment. Under this partnership, farmers purchasing tractors, harvesters and other agricultural [...]
Senior business community leader passes away
Ajit Jayaratne, a respected leader of Sri Lanka’s business community and lately Chairman of Overseas Realty (Ceylon) PLC, passed away at the age of 85 on Thursday. The funeral was held on Friday. Mr. Jayaratne was a respected business leader and part of the prominent business community when the Colombo Stock Exchange (CSE) was formed [...]
Cinnamon Life to host South Asia’s Biggest K-1 Fight Night
South Asia’s biggest K-1 fight league, Karma Fight League, will host its fifth event on July 25 at Cinnamon Life, South Asia’s largest entertainment hub. The event will take place at the Lumina Ballroom, featuring fighters from Sri Lanka, India, Nepal, and Australia, with both male and female bouts on the card. KFL will also [...]
Exporters urge Government to uphold transparent trade practices
The Government was urged on Tuesday by the Joint Chambers of Commerce (JCC) to engage in meaningful consultation with all recognised industry chambers before making decisions that directly impact trade, exports, and the wider economy, and allegedly resorting to ‘backdoor deals’. The call comes in response to renewed lobbying efforts by certain shipping agents and [...]
Bentota hoteliers association selects new team
The annual election of the Beruwala-Bentota Tourist Hotel Association for the term 2025–2026 was held at the taj Bentota Tourist Hotel where its members approved the reappointment of the existing board of officers. The re-elected board includes Indaka de Silva of Barbarian Reef as President, Rohan Gamage of Thala Bentota and Sibi Mathew of Taj [...]
Mechanisation is slashing costs, boosting yields at Agarapatana Plantations
If people were asked to name 10 innovative companies in Sri Lanka, it is highly likely that a Regional Plantation Company (RPC) would not be on that list. Yet, it could be argued that Agarapatana Plantations PLC, a RPC belongs on that list. The company has created a transformative leap in productivity by undertaking a [...]
ComBank launches AI-powered SME Credit Underwriting Solution
The Commercial Bank of Ceylon has launched Sri Lanka’s first Artificial Intelligence-powered SME Credit Underwriting Solution, taking a transformative step in reshaping how small and medium enterprises (SMEs) access credit and financial solutions. This custom-built AI platform was fully developed as a collaborative effort with a top global consulting company, integrating the bank’s in-house capabilities [...]
CSE appoints new Regulatory Officer
The Colombo Stock Exchange (CSE) has appointed Ms. Nilupa Perera as the new Chief Regulatory Officer (CRO), effective July 9, succeeding Renuke Wijayawardhane, who retires after a 31-year career at the CSE. Ms. Perera, previously served as Senior Vice President – Broker Supervision and Listed Entity Compliance among several other roles at the CSE, and [...]
FitsAir strengthens regional network with daily Dhaka Service
In response to strong demand, growing trade and tourism ties between Sri Lanka and Bangladesh, FitsAir has announced that its Colombo–Dhaka service will operate daily from August 18, 2025. This strategic expansion follows a steady uptick in passenger movement and reflects FitsAir’s commitment to enabling seamless, affordable regional travel. Bangladesh has emerged as one of [...]
Sterling installs 1MW Rooftop Solar at Falcon Tea Factory
Sterling Engineering (Pvt) Ltd has successfully completed a landmark 1 Megawatt rooftop solar power project at the Falcon Tea Factory in Ratnapura. This milestone project is the largest single rooftop solar installation in the district, setting a new benchmark for industrial sustainability in the region, the company said in a media release. The project, built [...]
Rocell reaches out to Installer’s Club’s top members
Rocell, one of Sri Lanka’s leaders in surface coverings and high-grade bathware, recently honoured and celebrated the top members of the Rocell Installer’s Club with an exclusive appreciation event at Courtyard by Marriott in Colombo. Over 100 skilled professional tilers from across the island came together for the event, which acknowledged their crucial role in [...]
Signature signs up with India’s footwear giant Activewear Ltd
Signature, a well-known brand under the Hameedia Group, has announced its latest venture into the footwear space through an exclusive franchise partnership with Campus Activewear Ltd, one of India’s largest Sports and Athleisure brands. This partnership brings the highly sought-after Campus’ footwear line to Sri Lankan consumers for the first time, now available island-wide through [...]
Asian solar industry leaders to meet in Colombo
The International Solar Alliance (ISA) will host the Seventh Regional Committee Meeting (RCM) for the Asia and the Pacific Region from 15–17 July 2025 in Colombo, Sri Lanka. This important gathering will bring together government officials, technical universities, think tanks, institutional partners, and leaders from the private sector to advance a coordinated and strategic agenda [...]
New report offers roadmap for Sri Lanka’s economic revival
A new report launched this week offers a bold roadmap for Sri Lanka to achieve sustainable and inclusive economic growth over the coming five years. Sustaining Transformative Growth in Sri Lanka 2025–2030, authored by an Independent Growth Study Group under the auspices of ODI Global and the Centre for Poverty Analysis (CEPA), provides critical policy [...]
H One secures top spot at Microsoft hackathon
H One, a leading innovator in enterprise AI solutions and a Microsoft partner, saw success at the regional Microsoft Agentic AI Hackathon. Held in a hybrid format and featuring top talent from across the region, the event brought together pioneering minds in technology to showcase next-generation AI solutions. Team H One emerged as the winner [...]
MillenniumIT ESP, Cisco offer cybersecurity solutions
MillenniumIT ESP, in partnership with Cisco and Inflow Technologies, recently hosted a specialised event titled “Trust. Protect. Secure. – Redefined Security for BFSI” at Studio Hall, Cinnamon Life. The event brought together senior IT and cybersecurity leaders from Sri Lanka’s foremost public and private financial institutions for an exclusive exploration of Cisco’s latest advancements in [...]
LOLC Life Assurance in strategic MOU with SMIB
LOLC Life Assurance, a fully owned subsidiary of LOLC Holdings, has entered into a partnership with the State Mortgage and Investment Bank (SMIB), one of the longest standing banks in Sri Lanka, to offer life endowment insurance solutions through its bancassurance channel. With ownership of the most extensive bancassurance channel in Sri Lanka’s insurance industry, [...]
Rockland helps host 5th Annual Bar Champs at Hotel Show Colombo
The Rockland Group, a pioneer in the beverage industry, in partnership with the Sri Lanka Hospitality Graduates Association (SLHGA), has announced the final stage of the 5th annual Bar Champs competition. Held as a featured event at The Hotel Show Colombo, the highly anticipated finale on July 30 will bring together Sri Lanka’s most promising [...]
SLIC Life nominated among Asia’s best at key awards
Sri Lanka Insurance Life (SLIC Life) has become a finalist in three key categories at the upcoming 10th Asia Trusted Life Agents & Advisers Awards 2025. This recognition places SLIC Life among the very best in the Asia-Pacific region and marks a significant milestone for Sri Lanka on the international insurance stage, the company said [...]
Public drive on the importance of insurance
The Insurance Regulatory Commission of Sri Lanka (IRCSL) and the Insurance Association of Sri Lanka (IASL) jointly led a comprehensive, full-day public engagement programme that brought together all insurance companies under a unified banner. The initiative was designed to deepen public understanding of how insurance supports everyday life and to improve financial literacy across diverse [...]
German industry, Ministry of Health to strengthen healthcare sector
Martin Klose, Chief Delegate of the Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka), recently held a high level, solution-oriented discussion with Dr. Nalinda Jayatissa, Minister of Health. Mr. Klose highlighted the longstanding presence and contribution of renowned German healthcare companies— including Siemens, B. Braun, Linde, Fresenius, Dräger, and ZEISS—which have [...]
DFCC Bank engages tea sector
DFCC Bank, as part of its broader national strategy to support micro, small, and medium enterprises (MSMEs), recently conducted an awareness session for 28 line managers from the Wikiliya Tea Factory in Balangoda – field-level leaders who serve as vital links between tea factories and smallholder tea suppliers. The session highlighted DFCC Bank’s value chain [...]
AIESEC paves the way for future leaders
AIESEC in University of Kelaniya is set to host its flagship leadership forum, Challenge Every Opportunity (CEO 2025), on July 23, 2025 at the Main Auditorium of the University of Kelaniya. The event will bring together over 300 young leaders, from across the country for a day of insight, empowerment, and action. CEO 2025, now [...]
AMW, Orient Insurance to jointly uplift repair services
Associated Motorways (Pvt) Ltd (AMW) recently signed a Memorandum of Understanding (MoU) with Orient Insurance designed to reshape the collision repair experience for insurance customers across the island, AMW said in a media release. With the recent relaxation of import regulations, AMW is geared to make a significant impact on the automative industry. The company [...]
City of Dreams to host 100+ journalists, influencers at Aug 2 opening
City of Dreams Sri Lanka, South Asia’s first fully integrated luxury resort will welcome over 100 international journalists, influencers, and social content creators to Colombo for an immersive experience of luxury, culture, and Sri Lankan hospitality, at the grand August 2 opening. Among the journalists in particular are renowned representatives from key platforms across India, [...]
Seylan Bank Rs. 15 bn debenture issue oversubscribed
Seylan Bank PLC’s Basel III compliant Tier II listed debenture, raising up to Rs. 15 billion, was oversubscribed on opening day (July 9) having received strong market response, highlighting investor confidence in the bank’s resilient business model and long-term vision. The Basel III Compliant, Tier II, Listed, Rated, Unsecured, Subordinated Redeemable Debentures with a Non-Viability [...]
Salesforce launches Agentforce 3
Salesforce, the world’s top AI CRM, this week announced the entry of Agentforce 3: a major upgrade to its digital labour platform that gives companies the visibility and control to scale AI agents without compromise. As enterprise adoption accelerates, the real blocker has become clear: teams can’t see what agents are doing — or evolve [...]
HUTCH, schools help students with e-bicycles
HUTCH recently officially handed over 100 electric bicycles to rural schoolchildren at special ceremonies held at Bandaranayake Model Primary College and Zahira College, in the Anuradhapura District, Central Province. This initiative marks the implementation phase of a joint effort between HUTCH and the Ministry of Education, originally announced earlier this year, a HUTCH media release [...]
The End of America’s Exorbitant Privilege
WASHINGTON, DC – When he was France’s finance minister in the 1960s, former French President Valéry Giscard d’Estaing famously complained about the “exorbitant privilege” that the dollar’s position as the world’s leading reserve currency conferred on the US. This meant, essentially, that the US could borrow at low interest rates, run persistently large trade deficits, [...]