Tea workers cautious over wage hike
Tea workers across Hatton, Maskeliya and Bogowanthalawa are cautious about the new wage hike, saying they would wait for the January 2026 payment to see whether this increased wage would be implemented. They also raised concerns over the requirement to work 25 days to be eligible for the increase. “What happens if we work for [...]
Gold pawning soars to Rs. 356 bn, hidden crisis unfolds
Sri Lanka’s mounting cost of living has driven thousands of families to pawn their last line of savings –their gold. Official data now reveal that gold-backed loans have surged to an estimated Rs. 356.5 billion in the first half of 2025, underscoring growing household distress and a silent debt crisis spreading across the financial system. [...]
Sri Lanka expects over 20% growth of travellers in winter
Sri Lanka’s tourism industry is hoping this winter there could be a 20-25 per cent growth in arrivals but the overall numbers for the year is expected to fall short of the 3 million target. Industry officials point out that they continue to exert pressure on the authorities to carry out the necessary marketing campaigns [...]
Warnings against doctors: Improve your handwriting!
Have you ever encountered a problem in reading a medical prescription where the doctor’s handwriting is illegible? Well this cumbersome practice might be over! Last Sunday, the Sri Lanka Medical Council (SLMC) drew attention to ‘prescription writing and rational prescribing rules’ contained in the guidelines on ethical conduct for medical practitioners and warned that doctors [...]
Workers on tea smallholder estates left out of wage hike?
There seems to be ambiguity on the granting of a wage hike to estate workers as smallholders complain they have not been informed as to how they need to increase the pay as proposed in the budget. The government has come to an agreement with the Regional Plantation Companies (RPCs) to increase wages of estate [...]
New Film Council to liberate Sri Lanka’s cinema industry
The government is to set up the Sri Lanka National Film Council with the aim of modernising the film industry and shift the state’s 5-decades-long role from a business competitor to just a regulatory and promotional body. With the objective of creating a strategic orientation with regard to the sectors that are not covered by [...]
Juggling Cabinet portfolios
Sometime ago there was a discussion on the scientific basis of creating ministries. I was reminded of this on Thursday morning when some issues pertaining to the selection of ministries troubled me. At the same time I received a call from ‘Koththamalli’ Fernando, the Kokatath Thailaya (oil for many ailments) expert who has a remedy [...]
Budget 2026: Comfort without compass
Last week we examined a compelling issue in Sri Lanka’s historical budgetary practices. The country has followed a deeply flawed formula in managing government revenue and expenditure. On the revenue side, Sri Lanka adopted an East Asian–style taxation system, which produced relatively low tax yields for the government. On the expenditure side, however, it embraced [...]
IBSL to host National Banking and Finance Conference
The Institute of Bankers of Sri Lanka (IBSL) will host the National Banking & Finance Conference (NBFC) 2025 under the theme “Digital Transformation and Financial Sustainability” on December 1-2 in Colombo. This is the inaugural session of the series IBSL plans to host every year. The two-day conference will bring together senior bankers, policymakers, regulators, [...]
GEW mobilises SL innovators under the banner ‘Together We Build’
Sri Lanka is marking Global Entrepreneurship Week (GEW) 2025 on November 17–23, continuing to lead the region in entrepreneurial ecosystem development. Building on three consecutive years of impactful programming and the strong foundation laid during GEW 2024, the Information Communication Technology Agency (ICTA) has once again been honoured by the Global Entrepreneurship Network (GEN) with [...]
Prime Lands reports strong growth in revenue and profit
Prime Lands Residencies has announced its interim financial results for the quarter ending September 2025, a period in which there was strong growth in both revenue and profitability. For the first six months of FY2025/26, the company reported total revenue of Rs. 5.15 billion and profit after tax of Rs. 940.7 million, underscoring steady performance [...]
Janashakthi Life’s Q3 results sees 249 % surge in profits
Janashakthi Life, the flagship brand of JXG (Janashakthi Group) closed Q3 2025 solidifying its performance and growth momentum as one of Sri Lanka’s fastest-growing life insurers. The company recorded a 72 per cent year-on-year increase in Regular New Business, reaching Rs. 1.227 billion. This growth was driven by an enhanced focus on customer acquisition, customer [...]
Finance Act to strengthen regulation of NBFIs
Sri Lanka’s non-banking financial sector is at the threshold of a landmark restructuring process, and accordingly, the Central Bank of Sri Lanka (CB) has been pushing proposed amendments to the Finance Business Act (FBA) No. 42 of 2011, This was the foundational legislation governing non-bank financial institutions, or NBFIs, and deposit-taking entities. The new amendments [...]
“Sad to see Laxapana tea factory destroyed by a fire”
The tragic loss of the Laxapana Tea Factory nearly a month ago by fire, be it by an electrical mishap or even arson, as suggested by some press reports, truly upset me even more than I had anticipated. A few sleepless nights followed, despite my leaving Laxapana some 54 years ago. I have therefore decided [...]
DFCC Bank acquires part of SCB’s business in Sri Lanka
DFCC Bank PLC has entered into an agreement with Standard Chartered Bank (SCB) to acquire the wealth and retail banking business of SCB Sri Lanka in a deal worth Rs.3.7 billion. The announcement was made on Wednesday and comes on the back of Nations Trust Bank’s recent acquisition of a similar portfolio of HSBC Sri [...]
Sampath Bank maintains growth momentum in 2025
Sampath Bank has reported a Profit Before Tax (PBT) of Rs. 35.3 billion and a Profit After Tax (PAT) of Rs. 21.5 billion for the nine-month period ending September 2025, reflecting a year-on-year growth of 18 per cent and 21 per cent respectively. The group recorded a PBT of Rs. 38 billion and a PAT [...]
ComBank’s strong 9-month results with loan book growth
The Commercial Bank of Ceylon group has reported gross income of Rs. 268.49 billon and net interest income of Rs. 103.48 billion at the end of the third quarter of 2025, with strong year-on-year growth of 34.60 per cent in the loan book and curtailed interest expenses contributing to an impressive nine-month performance, it said [...]
LOLC Finance’s Rs. 14 bn Profit After Tax
LOLC Finance PLC, Sri Lanka’s largest and most profitable non-bank financial institution (NBFI), has delivered a strong performance for the six months ending September 2025, reflecting steady growth across key business lines and improved profitability amid a competitive operating environment. The company ended the period under review with a strong Profit After Tax of Rs.14 [...]
SLIC General’s new CEO
Sri Lanka Insurance Corporation General Ltd (SLIC General) has appointed Dr. Sameera Dharmasena as the new Chief Executive Officer, effective October 1, 2025. Dr. Dharmasena is a distinguished insurance professional with over two decades of leadership experience in the insurance industry with a proven track record in strategic transformation, operational excellence, and industry innovation, the [...]
SLCERT to launch post-quantum cryptography to safeguard SL’s DPI
As part of its initiative to enhance cybersecurity, the Sri Lanka Computer Emergency Response Team (SLCERT) is launching a Post-Quantum Cryptography (PQC) project aimed at safeguarding Sri Lanka’s Digital Public Infrastructure (DPI) from potential threats posed by quantum computing. This strategic endeavour seeks to establish a quantum-resilient digital ecosystem, ensuring the security of encryption standards, [...]
First Capital Holdings reports post-tax profit of Rs. 3.43 bn
First Capital Holdings PLC, a subsidiary of JXG (Janashakthi Group), has announced a vibrant performance for the six months ending September 2025, recording a Profit after Tax (PAT) of Rs. 3.43 billion, a substantial increase from Rs. 897 million in the corresponding period of the previous year. “This performance reflects the group’s disciplined strategic execution, [...]
hSenidBiz reports strong growth in latest results
hSenid Business Solutions PLC (hSenidBiz) has announced its financial results for the second quarter of FY2026, reporting robust topline performance and substantial margin expansion as the company approaches a critical profitability milestone. Total revenue for the quarter reached Rs. 516.9 million, reflecting year-over-year growth of 23 per cent in both rupee and USD constant currency [...]
Ceylon Dollar Bond Fund shines amid revival of sovereign confidence
Sri Lanka’s dollar bond market, once battered by default and investor flight, appears to be regaining traction, with the Ceylon Dollar Bond Fund (CDBF) posting an impressive 12.3 per cent US dollar return year-to-date as of mid-September 2025. Managed by Ceylon Asset Management (CAM) and backed by Deutsche Bank as its Trustee and Custodian, the [...]
Big dollar data breaches in SL during past eight months
The past eight months has seen at least eight data breaches and malware attacks in Sri Lanka, worth billions of dollars, a top official said. Since March this year and as recent as earlier this month these breaches and attacks have happened affecting the Sri Lankan government and the public sector. “On March 20, 1.9 [...]
Sri Lanka’s renewable transition hinges on battery storage
Sri Lanka once held a unique position among developing nations with the launch of the Surya Bala Sangramaya programme in 2016. It triggered a wave of rooftop solar installations funded entirely by private citizens and businesses. For the first time, renewable capacity grew without burdening the Treasury. Homeowners and industries financed solar using their own [...]
SLYCAN Trust celebrates World Vegan Day
SLYCAN Trust, in collaboration with Meatless Monday Sri Lanka, celebrating World Vegan Day 2025, recently hosted a reception titled ‘Plant-Based Gastronomy: Culinary Heritage & Tourism in Sri Lanka’. The event celebrated the richness of Sri Lanka’s plant-based culinary traditions and explored their potential to drive sustainable tourism, entrepreneurship, and climate action, the Trust said in [...]
Fitch: Sri Lanka’s Budget sticks to fiscal consolidation path
The Sri Lankan government’s latest budget indicates that the authorities remain committed to reducing government debt/GDP over the medium term after beating their targets in the 2025 budget. In a media release, Fitch Ratings said it believes sustained strong revenue performance will remain key to meeting the government’s fiscal goals. The budget targets a deficit [...]
Two sisters run KiddieCove facilities
KiddieCove Preschool and Daycare is rapidly establishing itself as a leading provider of early childhood education across Sri Lanka, with flourishing branches in Thalawathugoda, Malabe, and Mount Lavinia. Founded by sisters Naduni and Esha Samarakoon, KiddieCove offers a safe, nurturing, and innovative learning environment where children embark on their educational journey through exploration and creativity. [...]
Digital economy spurs macroeconomic expansion
This connection between the digital economy and the macro economy is evidenced globally, where the growth of the digital economy contributes positively to the overall speed of growth in the macro economy, a top official said. “In this sector, whether it’s in cybersecurity or whether it’s in digital transformation, within the overall trust of driving [...]
The AI labour shock is coming for women
LONDON – In 1986, “Anne” – a data entry clerk – watches an IBM PC land on her desk. Within a year, her job is gone. Four decades later, “Natalie” – a social-media manager – looks on as ChatGPT drafts the posts she once wrote. But her exit may come even faster than Anne’s. In [...]
DialTex boosts production capacity by over 50% with newly acquired factory
DialTex (Pvt) Ltd, with over 45 years of apparel manufacturing experience, has announced the acquisition of its second factory — the former Leisureline facility at the Katunayaka FTZ Phase 1 — marking a significant milestone in the company’s journey of growth and innovation. This strategic expansion increases DialTex’s production capacity by more than 50 per [...]
Akram Cassim re-elected as President of Gem/Jewellery industry body
Akram Cassim was unanimously re-elected as President for the year 2025–2026 at the Sri Lanka Gem & Jewellery Association (SLGJA) Annual General Meeting held recently in Colombo. It brought together a full house of members representing every segment of the gem and jewellery industry. The Association’s membership reflects the wide diversity of Sri Lanka’s gem [...]
United Motors’ sharp recovery after vehicle imports resume
United Motors Lanka PLC (UML), buoyed by the lifting of the vehicle import bank, has reported a strong resurgence in performance for the six months ending September 2025, with the group posting a profit of Rs. 1.41 billion compared to a loss of Rs. 119 million in the same period last year — a 1,287 [...]
DFCC Bank sustains growth momentum in Q3-2025
DFCC Bank has maintained its growth momentum for the period ending September 2025, underscoring its financial resilience and the success of its strategic initiatives. The bank focused on balance sheet growth, recording a 26 per cent increase in loans and a 22 per cent increase in deposits – driven by a strategy designed to capitalise [...]
Spa Ceylon helps preserve Lanka’s endemic orchids
Spa Ceylon, the world’s largest Luxury Ayurveda chain, announced its commitment to the conservation of Sri Lanka’s native and endemic orchids by organising ‘Orchid Paradise’, a three-day, multi-sensory immersive experience open to the public at the Colombo City Centre (CCC), held on November 7-9. The unique sensory journey was an extension of Spa Ceylon’s limited-edition [...]