Tourists from Poland
Two flights operated by Poland’s Enter Air brought a total of 378 tourists from Poland on Friday, seen here in this picture at the Katunayake Airport. These are the first flights to Sri Lanka by Enter Air, which is expected to operate eight times a week from Katowice and Warsaw airports in Poland. Pic by [...]
Court ruling to retain workers’ rights in the Colombo Port City
In a recent Appeal Court ruling, the government of Sri Lanka has been ordered to revoke the gazette notification issued on four local companies established in the Colombo Port City, which deemed the country’s ‘Employment Act’ will not be applicable to employees working within the port city borders. Four companies operating in the Port City [...]
Sri Lanka Budget 2026 sets path for productivity
The Sri Lankan government has specified a clear fiscal vision before the country’s 2026 Budget presentation on November 7 under the theme: “A Productive Economy and Foster the Engagement of Everyone in Economic Development”. It will not include new taxes. Instead, it will focus on boosting state revenue by strengthening tax administration, primarily through digitisation [...]
Don’t repeat decade-old tactics, SEC warns
Sri Lanka’s stock market regulator warned ‘naughty boys’ not to repeat the decade-old market manipulation tactics, saying that it is watching closely. It encouraged market participants to focus on sustainable and responsible investment and trading practices, reaffirming its continued watchfulness to ensure market confidence. “In the past few weeks, we have seen certain ‘naughty boys’, [...]
Apparel orders to US steady, prices drop
The apparel industry in Sri Lanka is continuing to see steady flow of orders although buyers insist that suppliers reduce prices as the US retail market is facing the pressure of the imposition of the tariffs that inadvertently are likely to impact on market trends. Sri Lanka along with its other competitor nations was slapped [...]
Waiting for Godot
Frustration! That’s how one could describe the plight of the tourism industry owing to the pathetic attempts by governments – present and past – to launch an overseas marketing campaign to profile the country’s rich offerings to discerning travellers. For nearly a decade the authorities have been struggling to get a tourism promotion campaign off [...]
Story of POSCO Holdings
POSCO Holdings Inc. stands among the world’s largest steel producers. Over the years, it has evolved into a diversified industrial conglomerate, expanding its portfolio beyond steel into battery materials, energy, lithium, nickel, hydrogen, and construction. In 2024, POSCO reported annual revenue of US$53 billion—more than half of Sri Lanka’s GDP. With a workforce of approximately [...]
Hoteliers take lead in positioning Sri Lanka
Sri Lanka’s hoteliers have taken a bold initiative by investing Rs.25 million to attract high spending travellers to the country in the absence of a global promotion campaign by authorities. The Tourist Hotels Association of Sri Lanka (THASL) will be carrying out a digital marketing campaign in Jordan, Saudi Arabia and Oman in West Asia [...]
Commercial Bank team meets Bangladesh Bank Governor
The corporate leadership of Commercial Bank of Ceylon, led by Sharhan Muhseen, Chairman and Sanath Manatunge, Managing Director/Chief Executive Officer, recently visited the bank’s operations in Bangladesh and met with Dr. Ahsan H. Mansur, Governor of Bangladesh Bank, in Dhaka. Discussions at the meeting centred on the nation’s financial stability and policy direction, the economic [...]
InsureMe redefines insurance access and innovation
InsureMe, since its founding in 2016, has transformed Sri Lanka’s insurance landscape as the country’s first and only end-to-end digital insurance aggregator of its scale. Headquartered in Colombo and licensed by the Insurance Regulatory Commission of Sri Lanka (IRCSL), InsureMe empowers individuals and businesses to compare, purchase, and manage insurance policies through a seamless digital [...]
MAS Holdings launches ‘Plan for Change 2030’
South Asia’s largest apparel-tech conglomerate, MAS Holdings, launched its Plan for Change 2030 at a special event held at Cinnamon Life, Colombo recentlly. The launch marks an important new chapter in the company’s sustainability journey, outlining an ambitious roadmap to reshape the future of apparel through measurable commitments across Product, Lives, and Planet, the company [...]
Niluka spearheads Global Bookkeeping Solutions
Success stories and inspiring lives sometimes are the ones where the script was written different to that of others. Rising to shine ahead of others when all else seemed hopeless is the story of a woman of courage and commitment from Anuradhapura, Ms. Niluka Jayasinghe. Raised by a single mother who had no hopes on [...]
Port City Colombo gains investor traction amid delays and cost overruns
The Port City Colombo project has reached an important juncture characterised by growing investor confidence and palpable commercial development but also by persistent structural delays and financial inefficiencies that continue to question its ambitions as Sri Lanka’s flagship urban development. Though international interest has increased, the latest audit findings show parts of the city’s physical [...]
Global shipping has the potential to boost SL’s economy in 2026
Global shipping has the potential to significantly boost Sri Lanka’s economy in 2026. The growth can be achieved through increased transhipment, notably Sri Lanka is the ninth best connectivity among the rest. The country’s location on major shipping routes and its new trade agreements are a key for this potential, says Nilud Fernando, a professional [...]
CB’s PDMO now streamlined under Treasury
The Central Bank (CB) Public Debt Management Office has been transferred to the Ministry of Finance and will be fully operationalised by January next year, top officials said. This office started operations last December following the enactment of the Public Debt Management Act in November that year. This move will make the central bank completely [...]
Hayleys Plantations partners with Solidaridad
Hayleys Plantations, home of the world’s first Regenagri®-certified tea estate, has entered into a landmark partnership with Solidaridad Network Asia and its Sri Lankan partner Nucleus Foundation to advance regenerative agriculture and carbon insetting programmes across its estates. The Memorandum of Understanding (MoU), signed alongside other plantation sector companies, represents the next phase in the [...]
Pan Asia Bank celebrates 30 years with strong growth
Pan Asia Banking Corporation PLC has reported a strong financial performance for the nine months ending September 30, 2025, reaffirming its resilience and strategic agility amid a gradually recovering yet challenging macroeconomic environment amidst strong growth in its 30 years of existence. The bank recorded a 36 per cent increase in Profit After Tax, reaching [...]
NDB Bank launches Tea Manufacturer Finance scheme
National Development Bank PLC (NDB) has introduced a Tea Manufacturer Finance Programme, a specialised financial solution designed to support tea producers and exporters in expanding their operations and growing beyond borders. Under this scheme, businesses can benefit from low-interest funding to replace costly short-term borrowing, with instant loan disbursements based on Goods Received Notes (GRNs) [...]
Sri Lanka signs UN Convention to strengthen cybersecurity
Sri Lanka signed the Cybersecurity Convention in Hanoi recently, becoming a signatory to this United Nations Convention against Cybercrime, focused on strengthening legal frameworks and fostering partnerships among stakeholders at both local and international levels. In three months the ministry will initiate on inter-ministerial mechanism with ministries of Justice, Foreign Affairs, Public Security, Defence and [...]
SLIC Life recognised at NAFLIA
Sri Lanka Insurance Life (SLICLL) sales team was recognised at the Life Insurance Industry Sales Awards 2024 held during the 16th National Forum for Life Insurance Advisors (NAFLIA). This special awards ceremony celebrated the exceptional achievements of the Top performers of the Life Insurance industry, SLIC said in a media release. A. Supesan from Jaffna [...]
Public offering on the horizon with BOC Act amendment
The policy to draft amendments to the state-owned Bank of Ceylon Act, which was sanctioned by the Cabinet in August, allows it to go public, top officials said. The proposed changes to the Ordinance No. 53 of 1938 aim to enhance the bank’s capital structure, broaden the range of its permitted activities, and strengthen its [...]
Seylan Bank records PAT of Rs.8.33 bn by Q3 2025
Seylan Bank has recorded a Profit before Tax (PBT) of Rs. 12,809 million in Q3 2025, against Rs. 10,608 million in Q3 2024, a growth of 20.75 per cent. For the nine months ending September 30, 2025, Profit after Tax (PAT) recorded by Seylan Bank was Rs. 8,327 million, up by 26.30 per cent against [...]
PickMe revenue up 51%, firm net profit
Digital Mobility Solutions Lanka PLC, owner of Sri Lanka’s ride-hailing platform PickMe, has reported Rs. 2.1 billion in revenue for Q2 FY25/26, a 51 per cent year-on-year increase marking the company’s strongest performance to date. This performance was underpinned by record-high engagement from users and third-party drivers on the platform, resulting in a 53 per [...]
Union Bank’s Rs.1.2 bn PBT for 9 months – 2025
Union Bank has reported a strong financial performance for the nine months ended 30 September 2025, reaffirming its position as one of Sri Lanka’s fastest-growing private commercial banks. The bank posted a Profit Before All Taxes (PBT) of Rs. 1,178 million, an impressive 52 per cent increase compared to the corresponding period of 2024. Profit [...]
Need to regulate online taxi and food delivery services
It is high time that the Consumer Affairs Authority (CAA) steps in to regulate the rapidly growing online taxi and food delivery industry in Sri Lanka. As the sector is still relatively new, service providers operate with minimal oversight — resulting in a one-sided marketplace where consumers are often at the receiving end of unfair [...]
Government reshapes ODA Policy to promote climate resilience growth
Sri Lanka has shifted from fragmented donor projects to a coherent, strategic approach to external assistance as it rolls out the National Climate Finance Strategy 2025-2030, Finance Ministry sources said. Using the strategy as the guiding framework, the government has moved quickly to enclose new donor commitments and route them through national priorities building resilience, [...]
Underfunding on education reveals systemic inequalities – Human Rights Watch Report
Sri Lanka’s public education spending is reported at only 1.5 per cent of GDP, one of the lowest globally, after years of decline from a post-independence high of 3-5 per cent. International benchmarks suggest a minimum education spending of 4-6 per cent of GDP, highlighting a significant shortfall in Sri Lanka’s investment in education. While [...]
Increasing exports must be put on par with reducing corruption and bribery
The Government’s progress in addressing corruption and bribery is getting attention as a result of various announcements and coverage by the media. However, continuing to make noticeable and real progress only on corruption and bribery will not be enough to guarantee the NPP’s success in the next election. Nor will it improve the financial well-being [...]
Aggressive drive to increase UT spread in the country
A mere 0.061 per cent of the population in the country has invested in Unit Trusts (UTs) for its entire existence of 24 years, reflecting the lack of financial illiteracy, a top official said. Many Sri Lankans still don’t have a proper understanding of how UTs function, and their potential benefits for long-term wealth creation, [...]
GRCA urges stakeholders to back SL’s first certified resource collectors
Nearing its second anniversary, the Green Resource Collectors Association (GRCA), a Western Province–based network of trained resource collectors, convened a special gathering in Colombo this week, hosting Hanif Yusoof, Governor of the Western Province, and Colombo Mayor Vraie Balthazaar. The meeting marked a milestone in recognising and strengthening the contribution of informal waste collectors, who [...]
‘Shush’ to social media on stocks
The capital market regulator is closely monitoring those offering investment advice on social media channels and has issued warnings to such unlicensed advisors to curb market manipulation. “No one can give investment advice unless they are a registered investment advisor (RIA),” Tushara Jayaratne, Deputy Director General Securities and Exchange Commission (SEC), told the Sunday Times [...]
NLAC discusses estate labour wages
Proposals to increase the daily wage of plantations workers to Rs. 1,750 were among issues discussed at the National Labour Advisory Council (NLAC) meeting on Thursday. During the meeting, union representatives on the council raised this proposed wage increase and requested the government and the private sector for clarification or confirmation of this move. While [...]