TAL Lanka Hotels PLC has unveiled plans to convert USD 4.47 million (LKR 1.32 billion) in shareholder loans into equity by issuing 32,228,524 ordinary voting shares through a private placement. The major shareholders, TAL Hotels and Resorts Limited and IHOCO BV, will receive 26.3 million shares and 5.9 million shares, respectively. Each share will be…
Sri Lanka’s export earnings from apparel in 2024 reached USD 4.7 billion, recording a year-on-year growth of nearly 5%, according to the Joint Apparel Association Forum (JAAF). Adding the country’s direct exports of textiles takes the overall export value to just over USD 5 billion. This underscores the resilience of the country’s textile and apparel…
The Commercial Bank of Ceylon is joining hands with the United Nations Children’s Fund (UNICEF) and government partners to improve preschool education in Sri Lanka. The Bank will support the improvement of a pre-school in the Moneragala District in the Uva Province, as a contribution to UNICEF’s work to support government partners to improve preschool…
In terms of Section 26(5) of the Central Bank of Sri Lanka Act, No. 16 of 2023 (CBA), if the Central Bank fails to meet the inflation target set out in the Monetary Policy Framework Agreement (MPFA) by a margin specified in the same for two consecutive quarters, the Monetary Policy Board is required to…
A Sri Lankan delegation of food and beverage companies successfully concluded a four-day business visit to the Kingdom of Saudi Arabia. The Embassy of Sri Lanka in Riyadh in collaboration with the Sri Lanka Export Development Board organized the visit from 12 to 17 January 2025 to promote Sri Lankan food products and beverages in…
Ambassador of Sri Lanka to Türkiye, Hasanthi Urugodwatte Dissanayake recently called on Minister of Industry and Technology of Turkiye, Mehmet Fatih Kacır, and discussed how both countries can learn from each other in science, technology, research, innovation and development related spheres. The discussions revolved around the importance and the need for commercialization of research and innovation. The…
The concluding session of the Sri Lanka Economic Summit organised by The Ceylon Chamber of Commerce will explore a ‘Plan for Economic Transformation’, to position Sri Lanka on a strong and sustainable growth trajectory. Conducted under the theme Shaping Sri Lanka’s Future: Transformational Growth Rooted in Sound Economic Policies, the SLES will be held on…
From colonial beginnings to global aspirations, a story of resilience, growth and community impact George Steuart & Co Ltd., Sri Lanka’s oldest mercantile establishment celebrates its 190th anniversary in 2025 – an extraordinary milestone for Sri Lanka. To mark this historic moment, the George Steuart Group has planned a series of community focussed activities in…
Wejhaty will serve more than 80,000 employees, their families, and thousands of jobseekers The Emirates Group, one of the largest employers in Dubai, has unveiled a futuristic lounge at its iconic headquarters to serve global candidates, new joiners, employees, their families, and retirees, reflecting Dubai’s drive to attract, retain, and cultivate the best talent from…
Fitch Ratings has upgraded the National Long-Term Ratings of seven Sri Lankan non-financial corporates and revised the ratings of two following the recalibration of the agency’s Sri Lankan National Rating scale to reflect changes in the relative creditworthiness among the country’s issuers. This follows the upgrade of the sovereign’s Long-Term Local-Currency Issuer Default Rating (IDR)…
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