Brainstorming session on senior citizens
The Sunrise Senior Foundation (SSF), a voluntary organisation looking after the interests of the country’s senior citizens, on July 21 brought together a group of high-level government officials and civil society representatives to address issues and concerns relating to senior citizens. The comments and views expressed are expected to be put together as a policy [...]
Mixed views on 20% US tariffs on Sri Lankan goods
Mixed reactions were received from Sri Lanka’s apparel and plantations sectors after the US Government enforced a 20 per cent tariff on Sri Lanka goods to the US, announcing the new, reduced tax on Friday (August 1). The tax would be effective from August 7. The tariff is a sharp reduction from the first announced [...]
SL Capital Market launches CCP
The capital market regulator is perusing six applications for the multi-asset class Derivative Exchange, officials said. “The Securities and Exchange Commission (SEC) has six applications, including that of the Colombo Stock Exchange (CSE), to set up and operate the derivative exchange of the country,” an official told The Sunday Times Business. The five parties that [...]
CIABOC assets defaulters face fines/ imprisonment
Sri Lanka’s senior public officials of 31 sectors and parliamentarians who had failed to submit asset and liability declaration to the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) by June 30, 2025 will now face penalties under the Anti-Corruption Act, official sources confirmed. Under the Anti‑Corruption Act No. 9 of 2023, senior public officials [...]
Four SOEs in discussion with CSE to go public
At least four state-owned enterprises will go public shortly, a top state official said. Approximately four state-owned enterprises (SOEs) are scheduled to go public on the Colombo Stock Exchange (CSE) this year, Trade Minister Wasantha Samarasinghe told The Sunday Times Business. Among these, entities in the manufacturing sector, trading, and others will go public, he [...]
Duty-Free Permits system under scrutiny
Sri Lanka’s duty-free vehicle permit system, originally intended to reward long-serving public servants and reduce the cost of official mobility, has been mired in controversy due to issuance of permits during the vehicle import ban period. The granting of car permits to Sri Lankan government officials continues unchecked in spite of the import ban, creating [...]
Digital Assets part of larger digital economy plan
The capital market regulator and the stock market operator are in discussion with relevant authorities and formulating plans to introduce digital assets, a top official said. “We are now in the process of collecting information about digital assets from around the world and getting help from the International Organisation of Securities Commissions (IOSCO), the international [...]
Transparency in education reforms
Everybody is talking about it: The proposed new education reforms. It’s a social media discourse and widely debated, at least among opposition politicians, correct? No, I stand corrected because the details of the reforms are ‘behind closed doors’, according to Dr. Anushka Kahandagamage, a civil society activist. In an article which appeared in a well-known [...]
Greying without growing
If you’re over 60 years old today, you likely belong to Sri Lanka’s “baby boom” generation—born between the mid-1940s and 1960s. During this period, the country experienced a striking population growth rate of approximately 2.6 per cent per year, driven primarily by a consistent surplus of births over deaths. Primitive modernity Demographers often attribute this [...]
Strategic capital market focus for economic recovery
Sri Lanka’s economy is in recovery mode, requiring fiscal consolidation, balance of payments, a flexible exchange rate, and growth. Capital markets are crucial to achieving sustainable economic growth, stated Chairman, Securities and Exchange Commission of Sri Lanka Prof. Hareendra Dissabandara, at a presentation on “unlocking the capital market potential for Sri Lankan banks and redefining [...]
nVentures Sri Lanka’s first MAS-Licensed Foreign VC
nVentures, in a major milestone for Sri Lanka’s start-up ecosystem, has emerged as the country’s first foreign venture capital firm to be licensed by Singapore’s Monetary Authority (MAS). In just three years, the firm has backed six Sri Lankan ventures, delivered a portfolio exit, and, together with its regional investor community, channelled over US$ 1.5 [...]
Pan Asia Bank posts strong performance in 1H2025
Pan Asia Banking Corporation PLC has reported an impressive financial performance for 1H 2025 amidst diverse challenges emerging from the gradually reviving but challenging macro-economic environment. In financial terms, the bank witnessed yet another period of growth and profitability, with an increase in Profit After Tax (PAT) of 110 per cent. This growth is reflective [...]
DMASL Digital Summit sets new regional benchmark
The Digital Marketing Association of Sri Lanka (DMASL) which concluded the DMASL Digital Summit 2025, a landmark two-day event held on July 24–25 at Waters Edge, Colombo saw the presence of over 1,600 participants from across Asia and beyond, including marketers, content creators, brand leaders, policymakers, entrepreneurs, and technology strategists. A media release from the [...]
Seylan Bank’s post-tax profit at Rs. 5.49 bn in 1H’25
Seylan Bank has recorded a Profit before Tax (PBT) of Rs. 8,444 million in 1H 2025, against Rs. 7,331 million in 1H 2024 demonstrating a growth of 15.18 per cent, the bank said this week. For the six months ended June 30, 2025, Profit after Tax (PAT) was Rs. 5,489 million, a growth of 20.41 [...]
JKH records EBITDA of Rs.12.97 bn in Q1 2025/26
John Keells Holdings (JKH) Group revenue for the first quarter 2025/26 was recorded at Rs.114.15 billion, an increase of 64 per cent over the Rs.69.66 billion recorded in the first quarter of the previous financial year. Group EBITDA at Rs.12.97 billion in the first quarter of the financial year 2025/26 is an increase of 69 [...]
Union Bank posts Rs. 834 m pre-tax profit for 1H’25
Union Bank of Colombo PLC has reported a Profit After Tax (PAT) of Rs. 251 million for the first half of 2025 ending 30 June, marking a sharp 247 per cent increase compared to the same period in 2024. This robust profit growth was underpinned by continued expansion of the bank’s balance sheet and strategic [...]
PickMe sees 50% revenue growth in1Q’25/’26
PickMe, the ride-hailing app, has reported a consolidated revenue of Rs. 1.8 billion for Q1-2025/26, representing a sharp 50 per cent increase from Rs. 1.2 billion in the corresponding period of the previous financial year. This strong performance is underpinned by a 43 per cent year-over-year growth in platform volume, supported by a record-high average [...]
Scalable, secure, sustainable regional power trade mooted
Scalable, secure and sustainable cross-border power trade is important for leveraging geographic diversity in energy resources to meet rising regional electricity demand, top officials said at a recent summit. Sustainable regional interconnection is a gradual process shaped by regional dynamics and political commitment, officials said at the Seventh Meeting of the International Solar Alliance (ISA) [...]
HSBC: Best International Bank in Sri Lanka by Euromoney
HSBC has been recognised as the Best International Bank in Sri Lanka by Euromoney for the second year in a row in their Awards for Excellence 2025. The award recognises HSBC’s leadership in banking innovation, corporate sustainability, and financial stability, noting that the bank deepened its digital reach, achieving 98 per cent digital penetration in [...]
NDB Bank named SL’s Best Digital Bank for SMEs by Euromoney
National Development Bank PLC (NDB) was recently named Sri Lanka’s Best Digital Bank for SMEs at the Euromoney Awards for Excellence 2025, reaffirming its leadership in delivering progressive, technology-driven, and focused solutions that align with the nation’s strategic development priorities.This recognition reflects the bank’s strong commitment to empowering Sri Lanka’s SMEs in their transition to [...]
Maldives opens new airport passenger terminal with phenomenal increase in capacity
MALE – A new state-of-the art passenger terminal was opened at the Velana International Airport in the Maldives last Saturday, sharply increasing passenger capacity and set to exponentially drive tourist traffic to its exotic sun-kissed islands. At the night event, Maldives President Dr. Mohamed Muizzu, welcoming special invitees including funding countries Saudi Arabia and Abu [...]
Turning evening peak energy cost to long-term savings
Sri Lanka is entering a critical phase in its energy transition, where balancing affordability, energy security, and sustainability is more vital than ever. With over seven million electricity consumers nationwide, the country faces a growing energy demand during the evening peak, primarily met by costly fossil fuel-based generation. This pattern poses a significant financial strain [...]
US-EU deal ‘secretive’, unusual for a community that is always transparent: EU official
The agreement between the European Union and the United States seem to be secretive which is rather strange because the EU has always been a transparent community, a top EU official said on Wednesday. Speaking at a Centre for Law And Security Studies (CLASS)-organised seminar on “Geopolitics and International Trade: A Sri Lankan Perspective”, held [...]
CDB concludes Phase 1 of Climate Transition Plan
Achieving a major milestone in its goal towards achieving net zero, Citizens Development Business Finance PLC (CDB) of Sri Lanka concluded Phase I of its Climate Transition Plan. With technical assistance received from the International Finance Corporation (IFC) and support from the European Union under their ‘Accelerating Climate Smart and Inclusive Infrastructure in South Asia [...]
Sarrah Sammoon awarded Certification in Investment Migration
Sarrah Sammoon, widely recognized as a pioneer of the global mobility industry in Sri Lanka, has once again made history by becoming the first Sri Lankan to receive the Certification in Investment Migration from the Investment Migration Council (IMC) of Switzerland, the global governing body for the investment migration profession. With over 30 years of [...]
Home Lands records historic monthly sales
Home Lands has once again reaffirmed its market leadership by achieving a historic milestone in the country’s property sector, recording the highest ever sales turnover in a month by any real estate developer in Sri Lanka –, Rs. 7.4 billion in sales from 104 units in June 2025 alone. This landmark achievement was significantly driven [...]
Emirates suspends advertising on social media over scam issues
Emirates, the world’s largest airline, has temporarily suspended all advertising on social media channels “to safeguard our customers and uphold brand integrity”. In a message to its members on Wednesday, the airline said it was aware of fraudulent advertisements currently circulating across social media platforms. “This is an important notice to alert you regarding these [...]
Digital lending association, only self-regulatory body
Sri Lanka’s Digital Alternative Lending Association (DALA) says that it is aware of misleading narratives and negative perceptions on social media about digital lending and works actively to correct misinformation, protect ethical lenders, and promote public awareness about safe and responsible borrowing. “DALA is Sri Lanka’s only recognised self-regulatory body for service providers in the [...]