Rs. 2000 commemorative note to mark Central Bank 75th anniversary
A Rs.2000 commemorative note was handed over to President Anura Kumara Dissanayake by Central Bank Governor Dr. Nandalal Weerasinghe on Friday to mark the banking regulator’s momentous 75th anniversary. (inset) the note. Pic by Presidential Media Unit.
Political stability, US export tariffs attract more businesses
Countries like India and Bangladesh are looking at opportunities available in Sri Lanka to export their products to the US following the recently imposed high tariffs on imports to the US and political stability. With Sri Lanka enjoying a 20 per cent tariffs on exports to the US there is growing attraction with Indian and [...]
High positions in capital market questioned
Sri Lanka’s capital markets industry is waiting with bated breath as to what the market operator will do about the CEO position at the Colombo Stock Exchange (CSE) after the Securities and Exchange Commission (SEC) placed its Director General, Chinthaka Mendis, on compulsory leave, a decision that has been ratified by Finance Minister President Anura [...]
DMT’s vehicle number plate shortage persists
Sri Lanka’s number plate issuance has been at a halt for months with the Department of Motor Traffic (DMT) conceeding that an estimated 95,000 vehicles and more than 80,000 motorcycles are yet to be issued official number plates. An investigation found the shortage was due to a cancelled contract in April 2025, chronic delays in [...]
Colombo Port faces capacity, revenue loss
Inefficiencies at the Port of Colombo resulting in congestion are likely to cause a loss of about 8000 TEUs per week of transshipment volume and another 350 TEUs per week contributing to a capacity and revenue loss. With regional capacities increasing shipping lines are looking at more options becoming available like India’s Vizhingham and Mundra [...]
EPF to move to Labour Dept
The operations of the Employees Provident Fund (EPF) will be transferred to the Labour Department, trade unions were informed at the last meeting of the National Labour Advisory Committee (NLAC). This move, conveyed to the unions by Labour Minister Dr. Anil Jayantha, has raised concerns amongst trade unions which have, in the past, raised issues [...]
Home Lands’ Landmark Twin Towers Rise at Thummulla
The ground breaking ceremony of Pentara Residencies, Colombo’s most iconic twin-tower development by Home Lands Group, was recently held at Thummulla Junction, Colombo. The event was graced by several top government personalities and Home Lands’ officials, the company said in a media release. Addressing the audience, Minister of Urban Development, Construction and Housing, Anura Karunathilaka [...]
The problem with procurement
One of the problems that governments have been challenged with presently and the past is having a foolproof system for procurements for tenders, contracts and other state requirements. It is cumbersome, takes a long time and at times tainted with corruption at different levels. Procurement goes through different layers of bureaucracy that by the time [...]
No permanent rivals in geopolitics
We Sri Lankans understand well that in politics, there are no permanent enemies—only shifting alliances. Yesterday’s adversaries become today’s coalition partners, while former allies fall out and turn against each other. It is the “interests” that are permanent for which they become either enemies or friends. It equally applies to geopolitics as well: “There are [...]
Central Bank at 75: Stability through independence and reform
Central Bank (CB) Governor Dr. Nandalal Weerasinghe on Friday used the bank’s 75th Anniversary oration to stress that it is important to preserve the independence of the institution to ensure economic stability, regain confidence, and build long-term prosperity. Addressing the distinguished gathering at the Atrium of the CB Head Office, Colombo, Dr. Weerasinghe warned policymakers [...]
Art exhibition to mark Central Bank anniversary
Students examine a painting at the art exhibition organised by the Central Bank’s 75th anniversary celebrations on Friday. The exhibition at the organisation’s Central Point building in Fort, was open to the public on Friday and Saturday. Pic by Priyanka Samaraweera.
Fintech momentum rises, but bureaucracy delays threaten 2030 targets
Sri Lanka’s financial technology (fintech) initiative is gaining momentum on the surface, but a closer look reveals the challenge of turning official targets into lived reality. Transactions are soaring, policies sound ambitious, and the promise of a US$15 billion digital economy by 2030 is on paper. Yet, many in the industry worry that the slow [...]
Disrupt Asia going global
Disrupt Asia, Sri Lanka’s annual start-up conference, an innovation festival aiming to brand the country as a hub for digital transformation, will be branded globally, officials said. “We held it a couple of months back in Singapore and Delhi, India. We aim to do it in Dubai, US etc, in the future,” Heminda Jayaweera, Executive [...]
Tourism industry demands country specific promo
Tourism industry is urging the government to engage in the launching of a country specific campaign to ensure Sri Lanka is still on the map as a travel destination. With state plans to generate three million travellers unlikely to be met this year as a result of any promotional campaigns launched in key markets, the [...]
Asia Securities’ platform for CSE’s online investors
Stockbroker, Asia Securities, has launched ‘Athena’, the country’s first and only equity trading platform fully integrated with TradingView, an online trading and analytics platform and social network used by over 100 million investors across 200 countries. Athena combines advanced charting, customizable analytics, and real-time execution within a sleek, intuitive interface, reinforced by Asia Securities’ award-winning [...]
HNB showcases Club Elite Mastercard in Male
HNB PLC recently hosted an exclusive experience event in the Maldives to highlight the lifestyle benefits of its invitation-only the Club Elite metal Mastercard. The curated two-day programme brought together over 40 affluent customers, offering a firsthand glimpse into the privileges and premium service ecosystem that the Club Elite card represents, the bank said in [...]
Colombo International Kite Festival ends up on a successful note
The Colombo International Kite Festival, organised by Sri Lanka Tourism, in collaboration with Derana Media Network, concluded successfully with a ground breaking number of visitors, participants and the public coming to the Galle Face Green, to witness one of the most colourful and glamourous events of the year. Sri Lanka received the opportunity of hosting [...]
Sri Lanka’s gem trade crumbles under smuggling and corruption
Sri Lanka’s gemstone legacy once celebrated with pride now faces a major crisis. Corruption, smuggling, and foreign manipulation have tainted the industry’s heart, amidst the National Gem and Jewellery Authority (NGJA) at the epicenter of official management. Latest figures show official gem exports remain artificially low. In August 2023, the former Chairman and CEO of [...]
NSB records highest ever group Profit Before Tax in 1H 2025
National Savings Bank Group (NSB) has reported strong results for the first half of 2025, marking a new high in financial performance and operational resilience. The bank posted a Profit Before Tax (PBT) of Rs. 25.5 billion for the six months ended 30th June 2025, reflecting robust bottom-line efficiency and strategic cost containment. Profit After [...]
Sri Lanka’s First CSR Outsourcing Model
Solutions Ground Pvt. Ltd, in a novel approach that redefines Sri Lankan businesses’ approach to strategic corporate social responsibility, has unveiled the country’s first full-service CSR outsourcing model. Headquartered in Sri Lanka and operating regionally, Solutions Ground is an international boutique consultancy working at the intersection of business, policy, and sustainability. Its latest offering introduces [...]
People’s Bank records all-time high pre-tax profit of Rs.28 bn in 1H-2025
People’s Bank, Sri Lanka’s leading financial services provider, this week announced its results for the period ended June 30, 2025, reporting operating income of Rs. 80.8 billion and post-tax profit of Rs. 18.2 billion. This achievement is particularly noteworthy, as this profit was recorded after recognising significant impairment charges on exposures to several state-owned enterprises [...]
Sri Lankan-led company named in prestigious US list
J Med Supply Inc, a dynamic force in the US healthcare sector, has earned a coveted spot on the 2025 Inc. 5000 list, a prestigious ranking of the fastest-growing private companies in the US. The recognition marks a proud milestone in the journey of John Amirthiah, the Sri Lankan-born entrepreneur behind the company’s success, the [...]
Sri Lanka- a unique paradise: What are we missing?
Sri Lanka is so much for so many. Yet we have been unfortunate and not been able to convey why every traveller has gone back so happy and returning. Is it because our only tool was word of mouth? We need to dress –up (package) and present creatively to get the best. It’s like a [...]
Indian IT giants eye SL’s Unique Digital ID
Most Indian tech giants established globally were at the recent pre-qualification meeting for the master systems integrators vying for Sri Lanka’s Unique Digital ID project, top officials said. They said at this pre-qualification meeting held virtually last month, conducted by the National Institute for Smart Government on behalf of Sri Lanka’s Ministry of Digital Economy, [...]
Advancing inclusive leadership in STEM and Finance
When discussing diversity and inclusivity, a topic that is frequently talked about is the involvement of women in traditionally male dominated fields such as science, technology, engineering and mathematics (STEM) and finance. Despite the considerable progress that has been made, achieving gender equality in STEM and finance fields is still an ongoing process, especially in [...]
Dr. Malraj B. Kiriella recognised for tourism and professional leadership
Dr. Malraj B. Kiriella was recently recognised at the 4th National Apex Awards 2025, organised by the Organisation of Professional Associations of Sri Lanka (OPA), where he received the National Apex Award of Professional Excellence presented by Dr. Jagath Wickremaratne, Speaker of Parliament, at a ceremony in Colombo. The award reflects a lifetime of achievement, [...]
Intrepid Travel’s Sri Lanka GM Poornaka Delpachitra recognised
Intrepid Travel is celebrating the recognition of Poornaka Delpachitra, Country General Manager of Intrepid Travel Sri Lanka, as a 2025 PATA Face of the Future awardee. Presented by the Pacific Asia Travel Association (PATA), the Face of the Future award is the Association’s highest honour for young tourism professionals making an outstanding contribution to the [...]
Agentforce sharply reduces manual work for Reps
Salesforce has introduced Agentforce for Revenue, a breakthrough solution embedded within its new Revenue Cloud, designed to transform how businesses generate, configure, and manage quotes. Already in use internally, Salesforce reports a 75 per cent reduction in quoting time and an 87 per cent decrease in manual clicks for its sales teams. With Agentforce, sales [...]
CEAT seals agreement with BOI with $ 171 m investment
CEAT OHT Lanka (Pvt) Ltd recently signed an agreement with the Board of Investment of Sri Lanka (BOI) to formalise a US$ 171 million investment. This investment follows CEAT Ltd’s acquisition of Michelin Group’s Construction Compact Line Business, including their Sri Lanka-based Midigama plant and Casting Product plant in Kotugoda. The transaction gives CEAT global [...]
The incalculable Costs of Corrupt Statistics
CAMBRIDGE – With GDP and employment figures dominating political debates, it is easy to forget that they are hardly timeless truths. In fact, how we measure progress has shifted dramatically over time. The Physiocrats – 18th-century French economists who saw agriculture as the source of all wealth – regarded farms’ output as the most important [...]
Probe on $17 m railway ticketing project
The US$17 million Railway Ticketing Project implemented by the previous government is being probed, after initial reports of misleading the Cabinet, audit committees, and the Technical Evaluation Committees (TEC), along with the Ministry of Transport and the Government, top officials said. The government, after noticing astronomical amounts charged for certain simple projects, has requested details [...]
NCAI drives national AI strategy
The National Centre for AI (NCAI) will be soon established to execute the strategy, coordinating efforts across government, private sector, academia, and civil society, bolstered by a robust Monitoring, Evaluation, and Continuous Improvement framework to track progress and tackle challenges, as the recently released government AI strategy articulates. Promoting AI literacy and enabling it on [...]
Island Market for small businesses
Colombo’s Island Market continues to support numerous small home business ventures adversely affected by the pandemic and economic crisis. The Island Market not only serves as an event but stands as an initiative dedicated to empowering local entrepreneurs, small businesses, creators, and makers by providing them with a platform to showcase their products and connect [...]
ComBank – first Sri Lankan bank to cross US$ 1 bn in market cap
The Commercial Bank of Ceylon PLC’s milestone of becoming the first bank in Sri Lanka with a market capitalisation of more than US$ 1 billion was celebrated at the Colombo Stock Exchange (CSE), where the bank this week was invited to ring the ceremonial bell. Commercial Bank Chairman Sharhan Muhseen, Managing Director/CEO Sanath Manatunge, members [...]
Global Dialogue Forum brings world leaders and experts to Colombo
The Global Dialogue Forum (GDF), in partnership with the iconic Club of Rome’s India affiliate, will host an international conclave at the Galle Face Hotel, Colombo, bringing together leading global experts, policy framers, decision makers and innovators to explore the frontiers that Artificial Intelligence (Ai) can breach to overcome green energy, food security and cybersecurity [...]
NDB Bank discusses latest results with analysts
National Development Bank PLC hosted its Analyst Earnings Call recently to discuss the bank’s financial results for the six months ending June 30, 2025. This was subsequent to the release of the bank’s financial results to the Colombo Stock Exchange on August 14 where the bank recorded an institutional all-time high post-tax profit exceeding Rs. [...]
LOLCTECH receives honours in ICT sector
LOLC Technologies (LOLCTECH), the pioneering force in transformative technologies and the digital backbone of the LOLC Group, Sri Lanka’s largest and most diversified conglomerate has been honoured with two national accolades at the recent National Business Excellence Awards (NBEA) 2025, marking the first national awards in the company’s history, the company said in a media [...]
Burnt-out Kandurata Umbrella resumes production in record time
Kandurata Umbrella Industries (Pvt) Ltd announced this week that it has resumed production at its Gampola factory, less than a month after a devastating fire completely destroyed the facility. The blaze, which occurred on July 28 razed the entire manufacturing plant, wiping out the building, critical production equipment, and inventory for the iconic ‘Penguin’ brand, [...]
Galle Literary Festival expands global reach
The Galle Literary Festival (GLF) is entering a bold new chapter as it prepares for its 13th edition in January 2026. With an expanded membership programme, the addition of influential patrons, and a newly formed Advisory Committee, GLF is strengthening its position as one of South Asia’s most significant cultural events and as a growing [...]