IMF Chief in Sri Lanka
IMF Chief Kristalina Georgieva’s three-day visit to Sri Lanka included a trip to the cyclone-devastated village of Mawathura in the Central Province where she was greeted by many children and elders. (See story on Page 4).
Business tourism growing in Sri Lanka, many MICE events
With business travel growing alongside MICE events, Sri Lanka has secured a bid to host the prestigious US-based International Association for Suicide Prevention (IASP)’s 34th World Congress in Colombo in around June 2027. MICE stands for Meetings, Incentives, Conferences and Exhibitions. “We had 13 proposals to host this conference from across the world. However the [...]
SEC steps up to ensure sound finfluencing advice
Sri Lanka’s capital market regulator is addressing the rise of unregulated financial influencers or “finfluencers,” by introducing a code of conduct and guidelines to ensure transparency in these dealings. Securities and Exchange Commission of Sri Lanka (SEC) Chairman Prof. Hareendra Dissabandara told the Sunday Times Business that the SEC has already formulated the guidelines, which [...]
Vehicle import boom reshapes leasing landscape
The 2026 economic landscape for Sri Lanka’s banking and Licenced Finance Company (LFC) sector is undergoing “Post-Boom Normalisation” following the surge in vehicle imports last year After the credit expansion of 2025 resulted mainly from the increase in vehicle imports, the sector is transitioning from aggressive lending to rigorous risk management, Finance Ministry sources revealed. [...]
Another death at the Colombo Port
A port supervisor was killed and another colleague was injured when their motorcycles collided with a faulty fork lift in another accident at the Colombo Port on Thursday, union sources said. This bring to three the number of worker deaths owing to accidents this year at the Port, they said. On February 6, a signalman [...]
Eight responses to RFI on data centres
At least eight interested parties have sent proposals for Data Centres to the Board of Investment (BOI), responding to the Request for Information (RFI) to support high-performance computing, AI workloads, and national digital services while strengthening domestic data centre capacity, an official said. “The closing date for the RFI on data centres was February 8, [...]
Research and (‘non’) development!
If innovation can be the cornerstone of a growing economy, then research must surely be the lifeblood of the nation. But do we spend enough on research or isn’t it a fact that new governments create new research units – virtually reinventing the wheel – to provide solutions to the nation’s ills? Often these exercises [...]
Vicious cycle of taxation
Last week, the Sunday Times Business reported that SriLankan Airlines received Rs. 25.2 billion in December 2025 through a government capital infusion. This is hardly new—such bailouts have been a recurring feature throughout the airline’s history. According to the airline’s 2024/25 annual report, accumulated losses had reached Rs. 379.5 billion. On top of this, the [...]
XpressJobs partners with JK Stock Brokers for Women’s Day
XpressJobs, on the next Women’s Day, is collaborating with John Keells Stock Brokers to create impact beyond celebration through the #SHEinvests initiative, designed to educate, engage, and empower women with the knowledge and confidence to achieve financial independence. As part of this initiative, XpressJobs clients will have the exclusive opportunity to host a Financial Literacy [...]
Understanding fixed income investments
Fixed income investments, commonly known as bonds, provide regular interest payments and return your original investment at the end of a fixed term. When you buy a bond, you’re lending money to a government or company, and in return, you receive fixed interest payments (the “coupon”) and your principal at maturity. Bonds are valued for [...]
99x wins gold at NCE awards
99x, a global leader in product engineering, has once again strengthened its position as one of Sri Lanka’s leading technology exporters by securing the Gold Award in the Extra-Large Category under the ICT, BPO & Related Services Sector at the recent 33rd National Chamber of Exporters (NCE) Awards event. The awards ceremony, organised by the [...]
Global Accounting Body President praises CA Sri Lanka
In a significant address to the accountancy profession in Sri Lanka, Jean Bouquot, the President of the International Federation of Accountants (IFAC), the global body representing millions of accountants worldwide, has commended the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) for its exceptional leadership and pivotal role in advancing high-quality global standards. [...]
IMF Chief backs Sri Lanka reforms amid cyclone devastation
Beyond the balance sheets and debt restructuring, IMF Chief Kristalina Georgieva’s three-day visit to Sri Lanka was defined by a message of solidarity with a disaster-stricken nation. While the 75th anniversary of the Central Bank provided a formal backdrop, her journey into the cyclone-devastated regions of Gampola and Mawathura highlighted a more empathetic “Fund”-one that [...]
Virtual assets legislation concept paper presented to NCC
The proposed Concept Paper to regulate Virtual Asset Service Providers (VASPs) was recently presented to the National Coordinating Committee (NCC) on Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) by Eranga Weeraratne, Deputy Minister of Digital Economy and Chairman of the Sub-Committee established under the NCC. He told the Sunday Times Business that VASP [...]
Re – negotiate Relevant Tax Holidays: Thailand’s Proactive Fix as the Urgent Blueprint
Sri Lanka stands at a critical crossroads in its quest to attract foreign direct investment (FDI). For decades, generous tax holidays and concessionary rates offered through the Board of Investment (BOI), Strategic Development Projects (SDP) and the Port City have been powerful magnets for multinational enterprises (MNEs). Yet a silent revolution in global taxation – [...]
Colombo Port City Act amendments improve ease of doing business
The 2026 amendments1 to the Colombo Port City Economic Commission (CPCEC) Act are aimed at improving governance, streamlining oversight, and providing the regulatory certainty required for large-scale international investment. These amendments introduce a clearer, more predictable statutory framework for identifying, approving, and monitoring BSI, providing investors with greater certainty and transparency for large-scale and strategic [...]
BITUMIX marks 25 years of industry leadership and resilience
BITUMIX (Pvt) Ltd, Sri Lanka’s flagship bitumen company, recently marked its 25th anniversary, celebrating a journey defined by vision, resilience and contribution to national infrastructure development. Founded in 2001 by Chairman Ashoka Siriwardena, BITUMIX began as a bold entrepreneurial venture with a clear ambition—to build a sustainable enterprise within Sri Lanka’s road construction materials sector. [...]
Ceylinco Life wins global recognition with 12th straight World Finance award
Ceylinco Life has once again been recognised as the Best Life Insurer in Sri Lanka by World Finance, securing the prestigious international accolade for an unprecedented 12th consecutive year in respect of 2025. The award positions Ceylinco Life among the world’s most respected life insurance companies, placing it in the distinguished company of global winners [...]
SL motor trade urges recall of vehicle valuation, import processes
The Ceylon Motor Traders Association (CMTA) this week said Sri Lanka’s vehicle import framework requires urgent recalibration to ensure fairness, transparency, and the protection of state revenue. The CMTA states that one of the most critical issues that must be addressed is the automatic 15 per cent reduction applied to the CIF value of used [...]
Tech companies are scouting for capital market opportunities
The Securities and Exchange Commission of Sri Lanka (SEC) and the Colombo Stock Exchange (CSE) hosted a forum themed “Seed to Scale – Unlock Value & Potential” for tech companies recently in Colombo. The forum is part of a broader initiative to engage and encourage tech companies to use the capital market as a source [...]
HNB promotes home loans in partnership with Groundworth
HNB PLC has announced a partnership with Groundworth Pvt Ltd through the signing of a MoU to promote home loan financing for a landmark mixed development project in Colombo. The MoU valid until December 31, 2026 brings together two organisations known for quality credibility and long term vision. Through this partnership HNB will extend access [...]
Binance’s community engagement event in Sri Lanka
Binance, a global blockchain ecosystem, recently hosted its first community engagement event of the year 2026 in Sri Lanka titled, #BinanceHODLove. The February 13-14 event attracted a large crowd and enthusiastic participation, featuring interactive activities designed to introduce attendees to the Binance ecosystem in an accessible and engaging environment, the company said in a media [...]
AI Crossroads: Sri Lanka’s high-stakes leap into the Machine Age
Sri Lanka is at a critical juncture in its smart nation development trajectory while the world has been moving at “breakneck speed” in the Artificial intelligence or AI race, as of February 2026, Sri Lanka has a highly competent workforce, but only a 6.2 per cent AI adoption rate, which is far lower than the [...]
Kerawalapitiya emerges as BOI-driven industrial powerhouse
In a major move to develop Kerawalapitiya in Wattala into a major industrial hub, the Government has stepped up the allocation of newly developed land to Board of Investment (BOI)-approved projects, thus reiterating its overall strategy of developing exports, logistics, and manufacturing autonomy. Almost 400 acres of swamp land in Kerawalapitiya, which belonged to the [...]
Bioenergy farm-to-fuel explored between SL and Karnataka
The State of Karnataka and the Government of Sri Lanka are aiming to collaborate on bioenergy through a “farm-to-fuel” model, a top Indian official said. “By leveraging Karnataka’s established biofuel infrastructure and Sri Lanka’s renewable energy targets, we can do this,” S.E. Sudheendra, Chairman (Cabinet Rank) at Karnataka State Bioenergy Development, told the Sunday Times [...]
Union Bank recognises top performers
Union Bank recently recognised its top performers at the UB Heroes 2025 awards, the bank’s performance‑based recognition initiative that honours exceptional achievement across categories including Branch Awards, Central and Retail Recovery Awards, CSAT (Internal Customer Service) Awards and Green Awards. Head Office Branch was recognised as a leading performer for its exceptional outcomes across seven [...]
TWC Capital advises CBL on $25 m Indonesian acquisition
TWC Capital (PVT) LTD, the corporate financial advisory arm of TWC Holdings, acted as the exclusive buy-side financial adviser to CBL Group on its recent acquisition of PT Tri Jaya Tangguh Indonesia (TJT), a large-scale coconut processing facility in Indonesia, with an investment exceeding US$ 25 million. This transaction marks TWC Capital’s third cross-border mergers [...]
Pan Asia Bank achieves PAT of Rs.4 b for 2nd consecutive year
Pan Asia Banking Corporation PLC has reported a strong financial performance for 2025, marking a year in which the bank reinforced its position among Sri Lanka’s steadily expanding financial institutions. The bank’s overall asset base last year surpassed Rs. 300 billion, reaching Rs. 308.02 billion, its largest balance sheet to date while Profit After Tax [...]
Kandy Myst by Cinnamon marks one year of hospitality in Kandy
Kandy Myst by Cinnamon is celebrating its first anniversary, marking a year as Kandy’s contemporary hospitality destination that brings energy, culture, and lifestyle experiences to the city. Opened on February 12, 2025 through a partnership between Cinnamon Hotels & Resorts and Indra Traders (Pvt) Ltd, the hotel blends hospitality expertise with local insight to deliver [...]
HNB Finance PLC records over Rs. 1 b PAT mark in 9 months
HNB Finance PLC has reported a Profit After Tax (PAT) of Rs. 1.15 billion for the nine months ending December 31, 2025, up 152 per cent year-on-year. This is the first time the company surpassed one billion mark in nine months performance. Profit Before Tax (PBT) increased 209 per cent to Rs. 1.88 billion, supported [...]
Prime Lands reports strong earnings growth in Q3 FY2025/26
Prime Lands Residencies PLC has reported strong financial performance for the quarter ended 31 December 2025, keeping shareholder expectations intact. The company’s share price increased by more than 40 per cent over the last three months, reflecting heightened investor confidence. Market expectations remained elevated given the scale of project launches over the past two years, [...]
Sampath Bank marks 2025 as a year of disciplined execution
The Sampath Group has achieved its highest financial performance in its history, recording a Profit Before Tax (PBT) of Rs. 53 billion and an after tax (PAT) of Rs. 32.6 billion in 2025, results this week stated. This was a year-on-year growth of 8 per cent and 13 per cent, respectively compared to 2024. The [...]
EDB’s exporter awareness on export opportunities in the UK
The Sri Lanka Export Development Board (EDB), in collaboration with the British High Commission in Colombo, recently conducted a hybrid Awareness Session titled “Enhancing Export Opportunities to the UK through the Developing Countries Trading Scheme (DCTS)”. The session, held both physically at the EDB and virtually via Zoom, attracted the participation of nearly 200 exporters [...]
SLID discussion on “Directors’ Accountability” under data protection
The Sri Lanka Institute of Directors (SLID) concluded its high-level executive session titled “Your Data. Your Risk. Your Responsibility – Director’s Accountability under Sri Lanka’s Personal Data Protection Act (PDPA)” on January 30 in Colombo. It brought together board directors, senior executives, legal professionals, and governance leaders to examine the rapidly evolving landscape of data [...]
Siddhalepa awarded Superbrands Sri Lanka status
Siddhalepa, Sri Lanka’s top Ayurvedic healthcare brand, has been awarded Superbrands Sri Lanka Status, reaffirming its long-standing position as one of the nation’s most respected heritage brands with deep roots in Ayurveda. The recognition celebrates Siddhalepa’s enduring commitment to authenticity, holistic wellbeing, and consistent brand excellence spanning over nine decades, the company said in a [...]