Sri Lanka’s best exporter
Omega Line Ltd won the Best Exporter of the Year award at the Presidential Export Awards held in Colombo on Thursday. The company’s CEO/MD Felix Fernando is seen receiving the award from Prime Minister Dr. Harini Amarasuriya.
Finance Ministry defends appointment of corporate chiefs to Ditwah Relief Fund
As Sri Lanka struggles to rebuild from Cyclone Ditwah the worst natural disaster in its modern history, a sum of Rs. 1.893 billion (around Rs1.9 billion) currently in the government’s newly created ‘Rebuilding Sri Lanka’ fund comes under sharp scrutiny. However, legal experts, civil society groups, and economic analysts caution that such a fund may [...]
Sri Lanka’s 5G Auction raises concerns over regulatory oversight
The government is expediting the much-delayed implementation of commercial 5G, the next-generation mobile technology in Sri Lanka after holding the spectrum auction by mid-December 2025. It is aimed at delivering ultra-fast speeds, low latency, and massive connectivity to power smart cities, advanced IoT, autonomous systems, and immersive digital experiences. The Telecommunication Regulatory Commission of Sri [...]
Sri Lanka to boost travel with promo this week
Sri Lanka’s tourism industry has great expectations from the government in boosting arrivals to the country as hotels carry out their own campaigns to attract more travellers amidst some cancellations. Sri Lanka Association of Inbound Tour Operators (SLAITO) President Nalin Jayasundere said approval has been given to the Tourism Promotion Bureau to launch a campaign [...]
Virtual economic zone to be activated by mid next year
The Virtual Special Economic Zone, (VSEZ) is a specialised economic area that provides a separate legal, regulatory, and fiscal framework for businesses to operate within a digital economy, and would be activated by mid next year, a top official said. Board of Investment Chairman Arjuna Herath told the Sunday Times Business that the BOI with [...]
Unsung heroes
The postman trudges up the hill, pushing his battered bicycle to deliver letters and finds (to his horror) the home of a recipient of one of the letters, has disappeared under an earth slip. A Ceylon Electricity Board (CEB) worker on top of a light post is electrocuted while trying to restore power in an [...]
SAARC at 40
My good friend, Prof. Mihir Pandey, recently retired from his distinguished career at Ramjas College, Delhi University. I first met Mihir in 2004, when together we launched the South Asian Economics Students’ Meet (SAESM) in New Delhi. SAESM was a pioneering initiative that gave Economics students from across South Asia the opportunity to present research [...]
Sri Lanka races against time as IMF considers emergency aid
Sri Lanka’s push for emergency financial assistance has reached a decisive phase with the International Monetary Fund (IMF) preparing to consider the government’s request for Rapid Financing Instrument (RFI) support. The appeal comes as the country works to stabilise a fragile economy while recovering from severe cyclone devastation heightening the urgency for liquidity, reconstruction funding [...]
New mojito beverage in Sri Lankan market
Ceylon Haurmet (Pvt) Ltd recently opened of its fully integrated canned beverage production facility in Pannala. The plant, with the latest technology, spans across 12,000 sq. ft. and strategically positions the company among competitive international markets. This marks a significant step in advancing Sri Lanka’s food and beverage industry, placing the facility among the few [...]
Shangri-La returns as official Host Hotel for IRONMAN 70.3
Serendib Multisport has renewed its partnership with Shangri-La Colombo as the Official Host Hotel and Hospitality Partner for IRONMAN 70.3 Colombo, which will take place on Sunday, February 22, 2026 at Port City Colombo, the hotel said in a media release. Ideally located just metres from the transition area, Shangri-La Colombo offers unmatched proximity, comfort, [...]
Vallibel Finance records pre-tax profit of Rs. 2.7 bn, 50% growth
Vallibel Finance PLC sustained its robust upward trajectory in the first half of FY 25/26, delivering exceptional financial results and further consolidating its position among Sri Lanka’s top five financial institutions. The company reported a Profit Before Tax (PBT) of Rs. 2.7 billion for the period under review, reflecting a sharp 50 per cent increase [...]
Farmers face daunting task with no help
Sri Lanka’s farmers are facing the biggest crisis of their times as they have to remove large amounts of sand from the paddy fields that have been devastated as a result of the cyclone and no help in sight. The government has insisted that authorities monitor paddy fields identified for re-cultivation. Peradeniya University Crop Science [...]
CSE will maintain growth momentum next year
The Colombo Stock Exchange (CSE) will next year be expanding into local regions with four branches and plans to do roadshows in the UAE and Europe. “We will see the market sustain, and increase next year,” CSE Chairman and Asha Phillips CEO, Dimuthu Abeysekera said. Observing that foreign selling last year was at Rs. 20.5 [...]
Sri Lanka to host ABU 2026
The Asia-Pacific Broadcasting Union (ABU) has announced that the ABU General Assembly 2026 will be hosted by The Maharaja Media Network, which is owned and operated by The Capital Maharaja Group, next year. The event will take place in Colombo, Sri Lanka, bringing together senior executives, broadcasters, media experts, and international partners from across the [...]
Arpico Mattress celebrates a year of milestones and success
Arpico, the pioneering leader in Sri Lanka’s mattress industry, recently hosted Arpico Mattress Achievers Night 2025, an award ceremony celebrating a year of collaboration and outstanding shared achievements with local entrepreneurs, businesses, and company staff members. The awards ceremony recognised the efforts of 150 dealers, with target awards categorised into Platinum, Gold, Silver, and Bronze [...]
VFS Global supports relief effort in Sri Lanka
VFS Global has contributed to the Government’s official Flood Relief Fund, established by the Ministry of Foreign Affairs, to support urgent relief and recovery efforts. This contribution will assist the provision of essential resources, including temporary shelter, medical supplies, and logistical support, helping affected families rebuild in the aftermath of the disaster, the company said [...]
AI Chatbots: New lifeline for floods, landslides and climate emergencies
Sri Lanka has always lived in close relationship with nature its monsoons, tropical storms, and lush hill country. Yet in recent decades, the scale and speed of natural disasters have changed. Climate change has altered rainfall patterns, causing intense cloudbursts, flash floods, prolonged droughts, and sudden landslides in areas that were once considered safe. Communities [...]
Capital markets, Infrastructure bonds – real MVP’s in Cyclone Ditwah Recovery
With Cyclone Ditwah damaged infrastructure needing quick rebuilding, it is important for the government to not be a burden to the budget and the IMF Programme that is currently ongoing, which is why the capital market is a top funding option in this regard, Professor Harendra Dissabandara, Chairman Securities and Exchange Commission (SEC) said. In [...]
SMEs: Needed a National SME Reconstruction Fund
Sri Lanka’s economy has suffered a sequence of shocks, some self-inflicted, others external: the 2018 constitutional crisis, the Easter attacks, the COVID-19 pandemic, the 2022 economic collapse, and now Cyclone Ditwah. Taken together, these events amount to almost seven years of disruption beginning in late 2018. Many SMEs are now trapped in debt accumulated during [...]
Government reconsiders Oil Palm ban
The government is reconsidering the ban on oil palm cultivation and will shortly present an expert committee’s report to the Cabinet to decide whether the 2021 gazette notification should be revoked. The Cabinet-appointed committee has submitted recommendations allowing oil palm cultivation under specific conditions, a senior government official disclosed. It has representatives of the Ministry [...]
US $ 20 billion exports next year
Sri Lanka is expected to fall short of its 2025 export target of US $18.2 billion, projecting revenues between $17 billion and $17.5 billion due to many external and internal challenges and also owing to the latest blow – Cyclone Ditwah, a top official said. However, the Export Development Board (EDB) remains optimistic about attaining [...]
SL’s shipping economy faces challenges in vessel volumes due to Cyclone Ditwah
Sri Lanka’s shipping economy is likely to face significant challenges following the 2025 flood catastrophe. The country’s ports, particularly the Port of Colombo, plays a crucial role in the nation’s economy, and the recent floods have caused substantial damage to some infrastructure and disrupted daily operations due to continued adverse weather, says Nilud Fernando, a [...]
DFCC Bank enables digital payments in buses
DFCC Bank has extended its digital payments infrastructure to Sri Lanka’s public transport network by enabling QR, credit and debit card acceptance in buses through DFCC Point of Sale (POS) terminals. This initiative supports the Ministry of Transport’s nationwide effort to modernise fare collection and shift the sector towards a cashless operating model, the bank [...]
DC Group wins Gold for Digital Innovation Agency of the Year
The DC Group has won Gold for Digital Innovation Agency of the Year South Asia at the Campaign Agency of the Year Awards 2025. The agency also received Gold for Digital Innovation Agency of the Year Rest of South Asia, placing a homegrown independent firm among the region’s leading innovators in a field traditionally dominated [...]
People’s Bank, UnionPay to introduce National Cards
People’s Bank, one of Sri Lanka’s largest state-owned banks, continues to lead the way in digital financial innovation and in supporting the nation’s transition toward a modern, cashless society. Reinforcing this commitment, People’s Bank announced a major strategic partnership with UnionPay International (UPI), the world’s largest card issuer and one of the fastest-growing global payment [...]