Container truck driver killed at CICT
A container truck driver was killed in an accident which occurred the previous week at the China-run container terminal at the Colombo Port. The incident took place on August 8 at the Colombo International Container Terminal (CICT) when a container that was meant to be loaded onto a truck is learnt to have not been [...]
Foreign company registrations in Sri Lanka rise in 1H2025
Sri Lanka is estimated to have recorded a sharp rise in foreign and joint-venture (JV) company registrations in the first half of 2025, reflecting the country’s rebound in investment inflows and project approvals, despite the absence of official confirmation from the Department of the Registrar of Companies (ROC). Efforts to obtain precise data from the [...]
Singapore Forum brings gains to CSE
The Invest Sri Lanka Capital Market Investor Forum in Singapore early this week has brought the Colombo stock market some gains. On Wednesday, a day after the forum, ride-hailing company Pick Me saw some 4 million shares trading hands, raising the turnover by Rs. 1 billion within the first hour. “Discussions at the Investor Forum [...]
Cabinet paper on global tourism promotion next week
The Tourism Ministry will submit the paper on the global tourism promotion campaign next week to the Cabinet but it is likely to take over a year to launch this campaign once approved. Deputy Tourism Minister Ruwan Ranasinghe speaking with The Sunday Times Business said the government’s intention is to call for fresh tenders for [...]
Trade Ministry refuses to divulge details of tariff talks
The Ministry of Trade, Commerce, Food Security and Cooperative Development on Thursday rejected a request for information under the Right to Information (RTI) Act filed by a Sunday Times reporter seeking information on the recent US tariff discussions. A request for information was filed asking the following details: “What are the concessions and tax benefits [...]
Booking.com to meet Govt. end Aug
Tourism authorities are to meet booking.com representatives in Colombo at the end of the month following government concerns on ensuring room reservation platforms fall in line with the rest of the industry. Deputy Tourism Minister Ruwan Ranasinghe said that by the end of this month he will be meeting with representatives from booking.com. Discussions are [...]
Gambling Regulatory Authority Bill in P’ment tomorrow
A Bill to establish a Gambling Regulatory Authority in Sri Lanka, to regulate casino operations, has been approved by the Committee on Public Finance and is expected to be tabled in Parliament tomorrow, Finance Ministry officials said. The Bill, which was discussed on several occasions in the Committee on Public Finance, and provides for the [...]
Stock market blues
It was that time of the day when Aldoris, the choon-paan karaya, would come down the lane in his tuk-tuk giving us a taste of his loudspeaker music before a taste of his ‘maalu paan’! Well this time, the trio was waiting at the gate, as I had also shown interest in a ‘maalu paan’ [...]
Financing the foe
Last week, we dealt with a new concept of the Payment for Ecosystem Services (PES) – a market-based tool for better management of ecosystem services. PES is a simple idea with powerful implications but complex mechanisms: those who benefit from nature’s services should pay for those who can protect and maintain them. This means using [...]
SL’s gem and jewellery sector confident of exports to the US, despite 20% tariff
Although the gem and jewellery sector is liable for a 20 per cent tariff on exports from Sri Lanka to the US, industry leaders express confidence that the markets will remain the same, despite the new tariff review. The US is one of the major markets for Sri Lanka’s gem and jewellery, and the country’s [...]
SL’s new investor outreach drive aims to boost foreign capital
Sri Lanka is stepping up efforts to attract foreign investors in its drive for an economic revamp, with the country garnering international recognition for its improved relations with investors in 2025. It is ranked fifth globally in terms of largest score improvement among 54 developing and emerging economies, the latest Investor Relations and Debt Transparency [...]
National Incubator framework draft out
The National Incubator Model Development Workshop identified six incubator types for Sri Lanka’s entrepreneurial ecosystem to nurture and support budding entrepreneurs, providing them with the resources and guidance they need to thrive in their business ventures. Based on the insights gathered from the first National Incubator Model Development Workshop, six types of incubators were identified [...]
CA Sri Lanka’s upcoming 46th National Conference
The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) will hold its 46th National Conference on October 8-10 at the Monarch Imperial, Sri Jayewardenepura, under the theme “UPRISE – Global Insight – Local Impact”. This three-day event is expected to attract more than 2,500 delegates from Sri Lanka and overseas. Over 15 local [...]
People’s Bank winners and Bangkok tours
People’s Bank recently conducted the weekly draws of its ‘People’s Remittance Vaasi Kotiyai 2025 – Send and Win Bangkok Tours’ campaign, selecting 14 winners for the period April 23 to July 29. The event was held at the Overseas Customer Services premises in Colombo 10, the bank said in a media release. Each winner was [...]
The promise and peril of Bangladesh’s “Youthquakes”
DHAKA – The past year has been marked by a series of revolutions and political shocks as young people across Asia and Africa have taken to the streets, demanding accountable governments, fairer societies, and economic opportunities – a wave of resistance that Binaifer Nowrojee has aptly termed “youthquakes.” The most dramatic upheaval took place in [...]
Elderly group in SL’s population rising; government official
The number of senior citizens, those above 60 years, has risen to about 18 per cent, according to provisional findings of the 2024 Census of Population and Housing, showing an increase from 12.4 per cent in the 2012 census, a senior government official said. “Our preliminary report states that the total population increased to 21.7 [...]
CRIB on a journey to empower MSME
The Credit Information Bureau (CRIB) is collecting alternative data for the Micro, Small, and Medium Enterprises (MSME) score and will be onboarding data from the insurance sector as an initial step, officials said. CRIB aims to gather non-traditional data familiar to specific sectors, focusing on utility payments and insurance and by leveraging this data, the [...]
DPL opens Monaragala Latex Collection and Lab
Dipped Products PLC (DPL), a member of the Hayleys Group, recently opened a state-of-the-art latex collection and laboratory facility for smallholder rubber farmers in Monaragala. At an investment of over Rs. 50 million, the initiative connects smallholder farmers to expand market reach via improved quality and traceability, the company said in a media release. Monaragala [...]
Dialog sustains growth momentum in 1H 2025 performance
Dialog Axiata PLC has delivered strongt results across its Mobile, Fixed Line, Digital Pay Television, and Tele-infrastructure businesses, achieving 6 per cent year-to-date (YTD) revenue growth to Rs. 87.4 billion in 1H 2025. The results was for the 6-month period ending June 30. Group Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) recorded a growth [...]
HNB reinforces commitment to national economic progress
HNB has sustained its upward momentum in the first half of 2025, delivering sound growth. Group Profit After Tax (PAT) recorded a growth of 42.5 per cent to Rs. 23.16 billion, while the bank PAT rose by 37.9 per cent, reaching Rs. 21.19 billion. With interest margins being under pressure, the bank’s Net Interest Income [...]
Union Bank among SL’s 100 Most Valuable Brands
Union Bank has been once again recognised as one of Sri Lanka’s Top 100 Most Valuable Brands in the latest rankings published by Brand Finance, in collaboration with Echelon Magazine. This recognition highlights the bank’s steady progress and growing brand equity in a dynamic and competitive financial services landscape. The rankings reflect Union Bank’s financial [...]
Nations Trust Bank supporting economic revival
Nations Trust Bank (NTB) PLC has reported strong results for first half of 2025, achieving a Profit After Tax (PAT) of Rs. 9 billion, reflecting a healthy 10 per cent year-on-year growth. NTB Director/CEO Hemantha D. Gunetilleke, stated, “The bank’s performance in 1H 2025 highlights our commitment to economic growth and credit expansion across customer [...]
Sampath Bank’s Alipay+ Payment Acceptance for merchants
Sampath Bank PLC has announced a partnership with global payments technology company Bancstac to introduce Alipay+ payment acceptance across both brick and mortar and e-commerce merchant channels in Sri Lanka. The initiative builds on the bank’s existing collaboration with Ant International, which enabled Alipay acceptance at offline merchants. Following the launch of Alipay+, Sampath Bank now facilitates [...]
ComBank creates history with assets of Rs. 3 tn
The Commercial Bank of Ceylon has become the first private sector bank in Sri Lanka to surpass Rs. 3 trillion in assets, a milestone achieved in the second quarter of 2025 on the back of solid growth in key indicators at Group and Bank level in the six months ending June 30. The group reported [...]
Indian festival
A festival of Indian products, as part of the country’s independence day celebrations, was held on Friday at the Havelock City mall in Colombo. Here Indian High Commissioner Santosh Jha and his wife check out some sarees at the event. Pic by Indika Handuwala
Industries Ministry allocates strategic lots for PPP
The Industrial Development Board (IDB) has gathered more than 50 per cent information from the 335 divisional secretariats on land ownership to kick-start the industrial development drive, a top official said. The IDB, under the Ministry of Industries, is also requesting large parcels of land in Hambantota from the reserved area for development to set [...]
Fresh microfinance law soon to curb predatory lending
The government has cleared the enactment of a new Micro Finance and Loan Regulation Authority Bill to replace the existing Microfinance Act No. 6 of 2016 as part of an initiative to place unregulated money lending under strong control and protect vulnerable borrowers from usury lending. During its latest sitting, the Cabinet of Ministers this [...]
Capital markets can be SME lifeboat in a sea of policy waves
Sri Lanka’s macroeconomic policy consistency has managed to attract foreign investors earlier, but better investor perception and consistent policy-making, budgets, and IMF Programme continuation are needed to attract foreign investors and maintain its competitiveness. During the time that there was some consistency in macro policy in the country, foreigners came in, and when that gets [...]
OPA to host 38th Annual Conference
The Organisation of Professional Associations of Sri Lanka (OPA) will host its 38th Annual Conference, bringing together leaders from across the country’s professional sector early next week. “This conference, which will be held on August 19 and 20 will focus on advancing resilience, innovation, and inclusive growth amid evolving global dynamics,” Jayantha Gallehewa, President-Elect OPA, [...]
Kahawatte Plantations innovative initiatives
Kahawatte Plantations PLC (KWPL) is redefining the parameters of agricultural excellence, sustainability and inclusive growth. As a Regional Plantation Company operating across the Nawalapitiya and Sabaragamuwa regions, KWPL manages 16 estates spread across 12,356 hectares. The company’s diverse crop mix includes tea, rubber, cinnamon, coffee, coconut, pepper, durian, macadamia and commercial forestry which highlights its [...]
Nominees for the Vanithabhimana Season 5 awards
NDB Bank, in collaboration with News 1st, is continuing the tradition of honouring the achievements of Sri Lankan women through the Sri Lanka Vanithabhimana programme, a platform that recognises and celebrates outstanding contributions made by women to the nation’s society, economy, and culture. The grand finale is set to take place on August 20, where [...]
Elephant House to market Campa Beverages in Sri Lanka
Ceylon Cold Stores, in collaboration with India’s Reliance Consumer Products Ltd (RCPL), is introducing the iconic Campa Beverages brand in Sri Lanka. The partnership marks a new phase in the relationship between the two organisations and builds on their previous collaboration, which successfully launched Elephant House Beverages into the Indian market through the Reliance Group [...]