Dr. Hans Wijayasuriya to Chart the Path for Sri Lanka’s Digital Economy The Sri Lanka Economic Summit, the premier and most anticipated annual economic event in Sri Lanka, organised by The Ceylon Chamber of Commerce, will be inaugurated by President Anura Kumara Dissanayake, under the theme Shaping Sri Lanka’s Future: Transformational Growth Rooted in Sound…
Employees of Lumala City Cycle Industries Manufacturing Pvt Ltd are calling for urgent government intervention as their company faces an unprecedented crisis that threatens to shut down one of South Asia’s leading bicycle manufacturers. Located at Panadura, Lumala has played a pivotal role in Sri Lanka’s industrial sector for over five decades, yet escalating costs…
Purchasing Managers’ Indices indicate expansions in both Manufacturing and Services activities in December 2024. Sri Lanka Purchasing Managers’ Index for Manufacturing (PMI – Manufacturing) recorded an index value of 57.2 in December 2024, indicating a further expansion in manufacturing activities. All sub-indices, except Employment, contributed positively to this improvement. The New Orders and Production sub-indices…
DFCC Bank is proud to announce the dual listing of its historic Green Bond on the Luxembourg Stock Exchange (LuxSE) and display on the prestigious Luxembourg Green Exchange (LGX). This milestone follows the bond’s initial issuance and listing on the Colombo Stock Exchange (CSE) in September 2024, becoming Sri Lanka’s first-ever Green Bond. Reinforcing DFCC…
Kandy Myst by Cinnamon, the latest addition to Cinnamon Hotels & Resorts’ portfolio, is now accepting advance bookings. As the property with the largest room inventory in Kandy, this eagerly anticipated hotel is set to open soon, redefining hospitality in Sri Lanka’s hill capital. Strategically located on Kandy Katugastota Road, Kandy Myst by Cinnamon offers…
Stocks surge in signal of strengthening investor confidence Adani Group companies witnessed a significant surge in their stock prices, rising up to 7 percent in early trading on January 16, 2025, following the announcement that Hindenburg Research, the controversial US-based short-selling firm, would cease operations. The news is a notable turning point for the conglomerate,…
The Central Bank of Sri Lanka and the People’s Bank of China, in December 2024, successfully renewed the Bilateral Currency Swap Agreement signed in 2021, for a period of another three (03) years, under the terms and conditions stipulated in the original agreement. The CNY 10 billion (approximately USD 1.4 billion) currency swap facility reflects…
The Sri Lanka Economic Summit organised by The Ceylon Chamber of Commerce will host a session focused on “Maximising Tourism Potential,”, exploring strategies to position Sri Lanka as a leading global destination, on 29 January at the Shangri La Hotel, Colombo. Discussions will focus on how Sri Lanka can achieve the goal of USD 8.5…
The Colombo Stock Exchange (CSE) and the National Commodity and Derivatives Exchange (NCDEX) of India, recently signed a Memorandum of Understanding (MoU) to collaborate and explore the development of derivatives and commodity products in Sri Lanka. This partnership will enhance the product offering and trading instruments at CSE. The collaboration will involve knowledge-sharing initiatives, technological…
The Planters’ Association of Ceylon (PA) has commended the Government of Sri Lanka for its decision to postpone the abolition of the Simplified Value Added Tax (SVAT) system to April 1, 2025. This decision, initially planned for January 1, 2024, followed strong opposition from a broad coalition of exporters and business chambers. While the postponement…
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