ProFood ProPack 2025
A food demonstration at a stall attracting visitors during the ProFood ProPack Ag-Biz exhibition held at the BMICH Colombo on Friday conducted by the Sri Lanka Food Processors’ Association. The event is held from August 22-24 and is considered the country’s largest food processing, packaging, Ag-Biz and knowledge sharing exhibition. Pic by Eshan Fernando
SL exports still costly into the UK
Despite zero tariffs into the UK for Sri Lankan apparel products, Sri Lanka still stands out as the most expensive destination on the world map for manufacturing garments. Under the current scheme countries like Bangladesh and Vietnam have an advantage over Sri Lanka, Joint Apparel Association Forum (JAAF) spokesman Yohan Lawrence told The Sunday Times [...]
Capital market authorities to enhance oversight with Nasdaq systems
Sri Lanka’s capital market regulator and operator have procured a state-of-the-art trade surveillance system from New York-based Nasdaq to proactively identify and respond to market abuse, potential fraud, and other forms of market manipulation. The Securities and Exchange Commission (SEC) is now testing the system and plans to implement it within a few weeks, an [...]
Highway of disputes finally moves ahead with local contractor
The Government is going ahead with the construction of the much delayed Central Express Highway’s third phase from Pothuhara to Galagedara which has been marred by tender issues involving initially with Japanese backing—through the Bank of Tokyo‑Mitsubishi and contractors like Taisei Corp. and Fujita Corporation. The new administration has decided to implement the 13.8 km [...]
Pharma companies seek new digs in Hambantota and Ingiriya
At least 10 companies, including a giant in the biscuit manufacturing sector, have requested the government to allocate them land in either Hambantota or Ingiriya to start pharmaceutical manufacturing. After their attempts at starting in the manufacturing zone at the Oyamaduwa “Deyata Kirula” site in the Anuradhapura District did not materialise. Maliban Biosimilars Pvt Ltd, [...]
S L’s mid-year budget success faces tougher test ahead
Sri Lanka’s fiscal position improved distinctly in the first half of 2025, with resilient revenues and a shrinking budget deficit pointing towards progress in financial consolidation. According to the Ministry of Finance’s Fiscal Review Report for January–June 2025, government revenue ascended nearly 24.7 per cent year-on-year to Rs. 2.3 trillion while the deficit narrowed by [...]
In WP over 300 traffic fines daily thru’ GovPay
More than 300 traffic fines are paid daily only in the Western Province by the newly launched Gov Pay platform, top officials said. Channa de Silva, CEO LankaPay, told The Sunday Times Business that with the launch of this payment system on August 4, there was an increasing trend in traffic fine payments in the [...]
Crowdfunding election campaigns
It was around 8 a.m. on Thursday and I was woken up by a call on the landline, a rare call indeed as most of our calls are now received on our mobiles. It was Pedris Appo, short for Appuhamy, a retired agriculture expert who does farming, and still prefers landlines to mobile phones. He [...]
India is winning the fight against poverty
NEW DELHI – Contrary to popular belief, democracy is about far more than holding elections or ensuring the peaceful transfer of political power. At its core lies the duty of elected representatives to respond to the fundamental needs of all citizens – especially the marginalised and vulnerable – regardless of their political or religious affiliations. [...]
Fintechs to balance innovation and compliance
Fintech industry stakeholders, along with the banking regulator, are looking at bringing in licencing and progressive regulations into the industry, officials said. “We have established a code of ethics, and now we are in the process of creating a lobby in the fintech industry backed by the Central Bank in the Advisory committee of the [...]
DFCC Bank celebrates 70 years
In celebration of its 70th anniversary, DFCC Bank has reaffirmed its commitment to empowering micro, small, and medium enterprises (MSMEs) across Sri Lanka through a legacy of partnership, purpose, and inclusive progress. This commitment was recently reinforced at the CMA Sri Lanka Business Excellence Awards 2025, where several MSMEs supported by DFCC Bank were recognised [...]
EDB and Palestinian Ambassador discuss trade issues
The Sri Lanka Export Development Board (EDB) recently held discussions with Ihab I. M. Khalil, Ambassador of the State of Palestine to Sri Lanka on fostering stronger trade ties and exploring new avenues for bilateral cooperation. The meeting, recently held at the EDB premises, facilitated a productive discussion on expanding market access for Sri Lankan [...]
Coca-Cola rolls out “Adopt a Bin” at Port City Colombo
Coca-Cola Beverages Sri Lanka Ltd (CCBSL) has partnered with Port City Colombo to roll out its “Adopt a Bin” programme in a new benchmark for corporate involvement in PET plastic waste management. Port City Colombo, Sri Lanka’s first foreign-currency designated Special Economic Zone and master-planned city development, reinforces its commitment to sustainability and environmental responsibility [...]
ComBank celebrates harvest success in Vavunathivu
The Commercial Bank of Ceylon recently participated in a vibrant harvest ceremony in Vavunathivu in Batticaloa, celebrating the latest success in the bank’s Agri Modernisation Village programme, an initiative that seeks to empower farmers to adopt transformative modern agricultural technology and practices. This village-by-village mission aims to bridge traditional knowledge and modern agricultural technology, helping [...]
Hydrogen economy as part of energy security
The Government is proceeding with plans to develop a hydrogen economy, with significant focus on green hydrogen, as part of its energy security strategy in the future. The National Policy on Renewable Hydrogen and Green Hydrogen Roadmap, has been unveiled when the nation still grapples with economic fragility and fiscal constraints, triggering controversy on whether [...]
Konka introduces groundbreaking Konka V-Max range
Celebrating 45 years as a leading brand of electronics, world-renowned Konka has revolutionised the local home electronics industry by introducing its latest range of TV’s, Konka V-Max, for the first time to Sri Lanka through the FLiCo network. The range includes a variety of models including Operating TV OS, Web OS, and Google TV OS [...]
APB Sri Lanka recognised at Banking Summit in Nepal
The Association of Professional Bankers (APB) Sri Lanka, the country’s professional body for banking, marked a new milestone when its leadership participated in the BFIN International Banking Summit 2025, held in Kathmandu, Nepal on August 15-16. Organised by the Bankers’ Forum of Nepal (BFIN), the summit brought together eminent policymakers, regulators, CEOs, and senior executives [...]
TCH hosts dialogue on “Future of Warehousing”
Tech Cargo Hub (TCH), a top digital warehousing and logistics solutions provider, recently hosted an industry conference to unveil its newest venture; TCH 2, a 20,000 sq. ft. smart warehouse designed to power the future of logistics in the region. Held at TCH 1, the event brought together industry leaders from freight forwarding, retail, and [...]
Bling Productions and Eyeon win at WOW Awards Asia 2025
Bling Productions and Eyeon recently clinched two silver awards and one bronze award at the WOW Awards Asia 2025—Asia’s most prestigious platform for recognising excellence in events and experiential marketing. The team was awarded for their pioneering work on Pixel Bloom, a permanent immersive digital art experience at the Colombo Lotus Tower, winning across three [...]
Most APAC CFOs believe AI Agents will drive revenue-survey
Chief Financial Officers (CFOs) in Asia Pacific (APAC) have fundamentally shifted their approach to Artificial Intelligence (AI), according to new research from Salesforce. Once cautious spenders, CFOs are now strategic investors, betting on AI not only for cost-cutting but as a crucial engine for long-term revenue growth, the research company said in a media release. [...]
An agenda for tackling the debt and development crises
NEW YORK – Following the Fourth International Conference on Financing for Development in June, we reached a breakthrough moment. Governments, international financial institutions, and civil-society organisations, recognising the need to tackle today’s debt and development crises, are ready for action ahead of the United Nations General Assembly (UNGA) in September. Recent reports that we each [...]
Number portability by August ‘26
Sri Lanka’s number portability, allowing subscribers to switch networks using the same number, will be ready by August next year, Deputy Minister of Digital Economy Eranga Weeraratne said. This facility, which has been discussed for more than a decade, is finally coming into fruition. Waruna Sri Dhanapala, Chairman the Telecommunications Regulatory Commission of Sri Lanka [...]
Econsulate launches SL’s ground–air robotics
Xavier 4.0 is a mission-ready platform combining the power of the RG 311 #UGV and the Beak B 150 #UAV, designed and developed from the ground up, into one seamless autonomous platform. With all-terrain mobility, autonomous navigation, 3D spatial mapping, rapid aerial deployment, and high-definition imaging working in harmony, it redefines how ground and air [...]
Mom Leaders Conference in Colombo
Parenthood Global recently brought together over 300 participants from across Sri Lanka for its Mom Leaders Conference 2025. Representing more than 40 organisations and companies, this gathering honoured, empowered, and inspired mothers in the workplace and beyond, the organisers said in a media release. Now in its second consecutive year, the conference has rapidly become [...]
Travelling History Museum held in Colombo from Aug. 19 to 23
The ‘It’s About Time’ Travelling History Museum opened its doors to the public this week at the Colombo Public Library from August 19 to 23. Since its inception in February 2019, the museum has visited 11 towns across 10 districts and seven provinces, including Jaffna, Kandy, Kurunegala, Badulla, Batticaloa, Mannar and Galle. Drawing on feedback [...]
LAUGFS celebrates 30 years of existence
LAUGFS Holdings Ltd is celebrating 30 years of visionary leadership, strategic growth, and impactful transformation across Sri Lanka and beyond. Since its establishment in 1995 as Gas Auto Lanka, LAUGFS has evolved into one of Sri Lanka’s most diversified conglomerates, making its mark across power and energy, retail, leisure, manufacturing, logistics, pharmaceuticals, engineering, trading and [...]
MillenniumIT ESP, Technovage boost Cambodia’s Cybersecurity
MillenniumIT ESP, a leading technology solutions provider, recently joined forces with Technovage Solution to host an event tited ‘Transforming Security Operations: From Reactive Defense to Proactive Resilience’,” at The Skye Phnom Penh Hotel & Apartments in Cambodia. Around 40 senior cybersecurity and IT leaders from various Cambodian industries, including banking, financial services, retail, manufacturing, telecommunications, [...]
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. The Cabinet of Ministers recently approved a proposal by [...]
President and PM: Move fast to BEING GREAT!
In 2001, Jim Collins published a major best seller book, “Good to Great”, based on studying the performance of many leaders and organisations to determine the difference between “good” and “great”. The President and Prime Minister have a challenging job: They’re new at running a country They have to deal with problems caused by past [...]
Tea Avenue expands to India, aiming at 100 outlets
Family-led Tea Avenue, a gourmet tea café, is expanding into India through a partnership with FranGlobal (international arm of Franchise India Group). After an agreement clinching the deal last week in Colombo, Gaurav Marya, Chairman, Franchise India, told reporters that his company which operates in many countries plans to open 100 Tea Avenue stores across [...]
Stallion Consultancy acquires ACAP Stockbrokers
Stallion Consultancy (Pvt) Ltd has acquired ACAP Stockbrokers (Pvt) Ltd from Asia Capital PLC, the company announced on Tuesday. The acquisition results in Stefan Abeyesinhe stepping in as Chairman, Malik Fernando takes over the reins as Managing Director while Neville Epa continues as Chief Executive Officer ACAP Stockbrokers, with its new stakeholders, is being positioned [...]
SLANZBC hosts 30th AGM
The 30th Annual General Meeting of the Sri Lanka – Australia – New Zealand Business Council (SLANZBC) of The Ceylon Chamber of Commerce was held recently with Paul Stephens, High Commissioner of Australia to Sri Lanka and David Pine, High Commissioner of New Zealand to Sri Lanka & Maldives, in attendance as Chief Guests. Mr. [...]
Vidullanka adds 2 MW to national grid with Horana Solar Power Plant
Vidullanka PLC last week announced the commissioning of the 2 MW solar plant, constructed by its subsidiary Vidul Solar Power (Pvt) Ltd. This marks the successful completion of the second phase of the Horana Solar Project. The new facility has an AC capacity of 2 MW and a DC capacity of 2.5 MW, with the [...]
NDB’s all-time high PAT of Rs. 4.2 bn in H1-25
National Development Bank PLC has reported a total operating income and pre-tax profit of Rs. 22.3 billion and Rs. 8.6 billion for the six months ending June 2025, respectively (H1-2024: Rs. 22.9 billion and Rs. 6.5 billion). Net interest income, which accounted for over 75 per cent of the bank’s total operating income, amounted to [...]
Lanka Rating Agency appoints new Board
Lanka Rating Agency Ltd (LRA), Sri Lanka’s national credit rating institution, has appointed two new Directors to its Board, bringing in distinguished leaders with strong backgrounds in finance, governance, and business, along with international expertise from the South Asian region. The addition of Ms. Priyana Gunesekera marks an important step towards strengthening gender balance and [...]
JXG’s Rs. 2.28 bn Net Profit in Q1 FY26
Sri Lanka’s newly-emerging financial conglomerate, JXG (Janashakthi Group), has reported a consolidated net profit after tax (NPAT) of Rs. 2.28 billion for the first quarter ended 30th June 2025, the group said in a media release. The group’s performance was enhanced by a robust 41 per cent year-on-year (YoY) growth in consolidated revenue, which reached [...]