In a momentous event for Sri Lanka’s automotive landscape, the first shipment of BYD’s cutting-edge New Energy Vehicles (NEVs) has arrived at Hambantota Port. This historic milestone, facilitated by John Keells CG Auto (JKCG Auto)—the authorized distributor for BYD vehicles in Sri Lanka—ushers in a new era of sustainable mobility and innovation. The shipment includes…
The Central Bank of Sri Lanka has determined Pro Care (Pvt) Ltd., Shade of Procare (Pvt) Ltd have engaged in a scheme prohibited under Section 83 (C) of the Banking Act, No. 30 of 1988, as amended. 1. Tiens Lanka Health Care (Pvt) Ltd 2. Best Life International (Pvt) Ltd 3. Mark – Wo International…
The overall rate of inflation as measured by the National Consumer Price Index (NCPI) on Y-o-Y basis increased to -3.9 % in February 2025, compared to -4.0% in January 2024, according to the latest data released by the Department of Census and Statistics. Food Inflation also increased to -1.1% in February 2025, compared to -2.5%…
SriLankan Airlines has canceled its flights to and from London on March 21, 2025, following the temporary closure of Heathrow Airport due to a large fire at a nearby electrical substation. As a result, flight UL 503 from Colombo to London, scheduled to depart at 12:50 hrs, and flight UL 504 from London to Colombo,…
Dr. Nandalal Weerasinghe, Governor of the Central Bank of Sri Lanka and Chairman of its Governing Board, has issued an addendum to the Banking Act Directions No. 05 of 2024, further reinforcing corporate governance measures for licensed banks. The new directive introduces a provision that requires directors representing shareholders who have acquired voting rights in…
Industry experts at the Lanka Property Show 2025 expressed confidence in Sri Lanka’s real estate sector, highlighting its potential for growth despite past economic challenges. While factors such as rising interest rates, currency depreciation, and fluctuating taxes previously impacted the market, experts were optimistic that stabilizing interest rates, exchange rates, and tax policies will foster…
The Committee on Public Finance questioned why only around 800,000 falling under the tax net when there are approximately 8 million in the workforce. The Officials representing the Ministry of Finance and the Hon. Deputy Ministers (Dr.) Harshana Suriyapperuma stated that the system is as such that only around 800,000 out of the approximated 8…
Reuters – CK Hutchison (0001.HK), opens new tab, a Hong Kong-based conglomerate, agreed to sell much of its global $22.8 billion ports business that includes assets near the strategically important Panama Canal to a group led by BlackRock (BLK.N), opens new tab this month. The canal’s strategic value in global trade and U.S. President Donald…
The export processing zones functioning under the purview of the Sri Lanka Board of Investment (BOI) play a critical role in Sri Lanka’s economic development. Approximately 145,000 employees work at 285 enterprises across the fourteen (14) export processing zones island-wide. Enhancing the firefighting capacity in these zones has been identified as crucial to ensuring the…
The units of the ‘CAL Five Year Closed End Fund’ were officially listed on the Colombo Stock Exchange (CSE) today (20). Accordingly, a total of 914,925,446 units were listed by way of an Introduction. This significant milestone was commemorated with a special Bell Ringing Ceremony. The event was attended by Mr. Gayan De Silva, CEO,…
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