Drop in tourist arrivals
File picture of a tourist at a bike rental shop in Sri Lanka’s southern province. Tourism has been badly bruised by the West Asian conflict with a drop of nearly 20 per cent in arrivals in January-March 2026 compared to the same period in 2025.
Vehicle Number Plates: Rs. 3 bn deal targets 400,000 backlog
The vehicle number plate issue in Sri Lanka is transitioning from a 10-month delay in new number issuances to over 400,000 newly registered cars, vans, buses, lorries motor cycles, and three wheelers to a resumption phase, following the awarding of a new contract to South Asian Technologies (Pvt) Ltd. The market has been chaotic due [...]
Govt. to bend the rules for speedy tourism campaign
Sri Lanka’s tourism industry, facing a significant drop in arrivals, wants the government to expedite a campaign to be launched to showcase the country as “safe and open” with no issues. Sri Lanka Inbound Tour Operators Association President Nalin Jayasundera speaking with the Sunday Times Business said that compared to last year they expect a [...]
IMF Mission signals positive review outcome for Sri Lanka
The ongoing IMF staff mission in Sri Lanka is expected to conclude the combined 5th and 6th reviews on Thursday April 9 with a positive assessment, paving the way for the disbursement of approximately US$ 700 million, two tranches of the Extended Fund Facility (EFF). This optimistic outlook is supported by recent high-level discussions and [...]
SriLankan Airlines to select CEO soon
SriLankan Airlines is currently navigating a pivotal era of “restructuring and growth” amidst a leadership crisis. Following the resignation of Chairman Sarath Ganegoda on March 31, the company is now under the interim guidance of a Treasury official. Mr. Ganegoda and another director Rohan Goonetilleke stepped down from the board without any reasons attributed to [...]
Tourism battered by Trump’s ‘missiles’
For the first time in this column I have decided to open with a quote from a revered or dreaded world leader, depending on which side of the fence you stand on. “You’ll have to start learning how to fight for yourself, the USA won’t be there to help you anymore, just like you weren’t [...]
Tale of two models on Jawatta Road
Jawatta Road is a familiar road to many who used to live or work or travel in the heart of Colombo. About 2 km long Jawatta Road connects Bauddhaloka Mawatha in Colombo 7 and Thimbirigasyaya Road in Colombo 5. Halfway along Jawatta Road, you arrive at a junction that tells an interesting story. On one [...]
Expats thrive in costly Colombo rental market
The demand for apartment rentals in Colombo is mostly centred around expat workers, driving them to such soaring prices which locals cannot afford, experts said. Niloshan Mendis, General Manager of Business Development at Global Housing Real Estate said the local high-end income earners are buying apartments. About 80 per cent of the sales are driven [...]
Lankem Ceylon introduces locally-produced SSP fertiliser
Sri Lanka’s efforts to reduce import dependency in agriculture received a boost this week with the introduction of a locally manufactured Single Super Phosphate fertiliser, as policymakers and industry continue to explore ways to strengthen domestic supply chains and improve long-term soil productivity. Lankem Ceylon PLC formally unveiled the product, marketed as “Mada Raja,” at [...]
Transforming social norms is Sri Lanka’s unfinished agenda
On March 8, the world celebrated International Women’s Day 2026, a moment to not just celebrate progress – but to confront what still holds women and girls back. Under the theme “Rights. Justice. Action. For ALL women and girls”, International Women’s Day urged governments, institutions and communities to move beyond commitments on paper and deliver [...]
Tax shake-up triggers palm oil price drop, coconut oil up
The Government has introduced a new import tax structure for coconut oil and palm oil. It has replaced the earlier structure with a general tax structure that includes 20 per cent customs duty, 20 per cent, 10 per cent Social Security Contribution Levy (SSCL) and 18 per cent Value Added Tax (VAT) per consignment. Under [...]
Are policy makers neglecting the plantation sector?
In the major rubber growing plantation companies in the country, the productivity levels achieved in has declined by around 50 per cent in 2025. For example, in three plantation groups (each group consisting of around 1,000 hectares (ha) of mature rubber the yield levels have dropped to 608, 644 and 659 kg per ha per [...]
Book on elevating professionalism in the insurance sphere
“Insurance Mastery”, a book by Ainsley Alles; a Chartered Insurance Practitioner and a veteran in the insurance industry, is a timely and inspiring contribution to the insurance profession. Written with both technical accuracy and elegance, the book succeeds in making complex insurance principles accessible while elevating the profession’s sense of purpose. It is both a [...]
Vogue Jewellers achieves double recognition at BMPC Awards 2026
Vogue Jewellers Pvt Ltd has been honoured with two prestigious accolades at the Best Management Practices Company (BMPC) Awards 2026, organised by the Institute of Chartered Professional Managers of Sri Lanka (CPM Sri Lanka). The company received a Merit Award in the highly competitive People/HR Governance (ESG) category and was named Winner in the Manufacturing [...]
Sri Lankan fintech wins $350,000+ in Google AI Credits
Dossiers, a Sri Lankan compliance technology company, has won US$350,000+ worth of credits from Google’s Gemini product suite, with an initial $100,000 already awarded. The award will enable Dossiers to dramatically expand its proprietary compliance database across South Asia and other emerging markets. The development comes at a critical time for Sri Lanka, as the [...]
HotJobs – AI-driven recruitment platform
Sri Lanka’s recruitment sector marked a new milestone with the official launch of HotJobs, described as the country’s first AI-driven recruitment platform, at Cinnamon Life, Cumulus Ballroom recently. HotJobs has been developed to transform the way employers and candidates connect in an increasingly competitive and fast changing job market. The platform is expected to support [...]
Massive Rs.380 m fraud reported at NDB
A massive fraud of approximately Rs.380 million involving some employees was reported on Thursday by the National Development Bank (NDB). The bank said the final figure is expected to be substantially higher. In an intimation to the Colombo Stock Exchange, the bank, a listed entity, said the fraud has been committed by some employees in [...]
India trade delegation visits Sri Lanka for high-level talks
The International Trade & Delegation Federation of Chambers (ITDFC) led a high-level Indian business and institutional delegation to Sri Lanka last month, with the objective of advancing bilateral trade, investment, and strategic cooperation between India and Sri Lanka. The delegation, led by Bency George, Chief Operating Officer, ITDFC, comprised distinguished Indian industry leaders representing key [...]
CSE, Port City Colombo reignite dollar board discussions
The Colombo Stock Exchange (CSE) and CHEC Port City Colombo have resumed discussions on setting up a Multi-Currency Board (MCB) in the Port City Colombo. Since its launch in 2018, the MCB has not successfully onboarded any foreign entities to raise capital. Five years ago, in June 2021, CSE and CHEC Port City Colombo signed [...]
State institutions interested in deploying EWIS AEGIS
Certain government agencies are interested in on boarding, EWIS AEGIS, an innovative AI-powered platform developed in Sri Lanka, aimed at modernising outdated systems across various industries, a top official said. “We are faced with old systems which need to either convert to newer systems which is costly or to completely rewrite them which is time [...]
An AI Bubble won’t trigger a financial crisis
HALF MOON BAY, CALIFORNIA – A familiar anxiety has returned to financial markets. Amazon is devoting US$100 billion to data centres. Meta has committed more than $600 billion to building them over three years. Microsoft, Google, and Apple plan to spend hundreds of billions more. With AI investments running into the trillions, are we witnessing [...]
Ceylinco Life Chairman R. Renganathan honoured by CMA
The Executive Chairman of Ceylinco Life Insurance Ltd, R. Renganathan, has been conferred the prestigious ‘Distinguished Recognition in the Profession of Management Accounting’ award by the Institute of Certified Management Accountants (CMA) of Sri Lanka, in recognition of his outstanding contribution to financial discipline, governance, and sustainable value creation. The accolade was presented at the [...]
CEAT Kelani adjudged best-managed company in SL by CPM
CEAT Kelani Holdings shared the overall Gold award for Best Management Practices and was honoured with four other significant accolades at the 2026 edition of the Best Management Practices Company Awards of the Institute of Chartered Professional Managers of Sri Lanka (CPM Sri Lanka), to be adjudged the country’s best-managed company. The company also received [...]
NDB Bank top local ranking at Euromoney 2026
National Development Bank PLC (NDB) has been named Sri Lanka’s Best Trade Finance Bank at the Euromoney Awards for Excellence 2026, securing the top overall domestic ranking among local banks. This prestigious recognition determined through votes from corporate clients underscores the confidence placed in NDB by businesses across the country and reaffirms the bank’s commitment [...]
Hambantota Port invests $108 m in new cranes
The Hambantota International Port Group (HIPG) has signed an agreement to invest US$108 million in new container handling equipment, marking a major expansion of its container terminal capacity and reinforcing Sri Lanka’s position as an emerging logistics hub in the Indian Ocean. The agreement, signed at a ceremony held in Colombo recently, brings together HIPG [...]
Browns EXIDE launches new campaign
Brown & Company PLC has rolled out a major nationwide consumer promotion aimed at energising Sri Lanka’s automotive battery market while rewarding motorists across the island. Branded “Choose EXIDE, Charge Your Luck,” the six month campaign is already gaining momentum among vehicle owners, offering weekly rewards and reinforcing the value of purchasing genuine Exide batteries [...]
SL: Data centre playground amid global turmoil
Setting up data centres in Sri Lanka may prove an opportunity in the wake of the war situation in West Asia, officials say. Data Centres are a strategic priority to enhance digital sovereignty, reduce external dependence, and position Sri Lanka as a competitive destination for global technology investment, Eranga Weeraratne, Deputy Minister of Digital Economy, [...]
Port City Companies and Beneficial Ownership Register
Sri Lanka took a major step toward international compliance when Parliament passed the Companies (Amendment) Act, No. 12 of 2025, inserting sections 130A to 130J into the Companies Act No. 7 of 2007. The new Beneficial Ownership (BO) framework was designed to bring the country in line with Financial Action Task Force (FATF) standards. Yet [...]
NCE celebrates 40 years
The National Chamber of Exporters of Sri Lanka (NCE) recently marked its 40th anniversary at a special celebration held alongside its Annual General Meeting and Post-Business Forum, bringing together policymakers, diplomats, exporters and industry stakeholders. At the AGM, Indhra Kaushal Rajapaksa was re-elected as President of the NCE for the forthcoming term, the chamber said [...]
LankaPay’s QR payments acceptance via Weixin Pay
LankaPay, Sri Lanka’s National Payment Network, has announced its partnership with Weixin Pay (popularly known as WeChat Pay) to enable cross border QR payment acceptance at LANKAQR merchants. Through this collaboration, Weixin Pay customers travelling to Sri Lanka will be able to scan and pay at over 400,000 LANKAQR merchants island- wide, significantly enhancing Sri [...]
ALT X launches BE | LIVING
ALT X (Altered Experience), a company specialising in end-to-end eCommerce through its eCom360 model, strategic marketing, and AI-driven technology solutions, has successfully delivered the full-scale build and launch of BE | LIVING, an international premium cookware brand, demonstrating a new, integrated approach to building and scaling modern eCommerce businesses. In an increasingly complex digital landscape, [...]
SLIM-KANTAR awards honours top brands, personalities
The SLIM-KANTAR People’s Awards 2026 was held last month bringing together Sri Lanka’s most admired brands, celebrated personalities, and leading figures from the business and marketing fraternity. Widely regarded as one of the country’s most anticipated awards ceremonies, the SLIM-KANTAR People’s Awards continues to hold a distinctive place in Sri Lanka’s marketing and brand landscape [...]