Lead Story
People’s Bank wishes to inform the public that an error relating to the application of exchange rate in one currency within a specific remittance system which resulted in certain customers receiving excess amounts during the period from May 2023 to March 2026, was recently identified and has since been fully rectified. Upon detection, the Bank…
Featured
For the company, distribution is not just about moving products—it is about enabling technology adoption across the country. Vertex HD Distribution has formally launched operations in Sri Lanka, expanding the country’s technology distribution landscape with a portfolio of international brands targeting the fast-growing gaming, storage and computer accessories segments. The company’s initial portfolio includes globally recognized…
According to Sajid Mahbub, the future of branding in Sri Lanka is shifting away from traditional advertising toward a more collaborative, people-centered approach powered by artificial intelligence (AI). Conversations within the Sri Lanka Brand Forum are increasingly focused on how brands can remain relevant in a world where consumers no longer engage with marketing in…
David Pieris Automobiles (Private) Limited (DPA) marked another significant milestone with the delivery of eight (08) BAIC X55 vehicles to Chevron Lubricants Lanka PLC, which markets the strong Caltex brand in Sri Lanka. This delivery reinforces David Pieris Automobiles’ continued efforts to strengthen its portfolio of internationally acclaimed brands while supporting corporate customers with robust…
South Asia’s first ever “One Love Reggae Festival” will be held from 7 to 9 August 2026 in Bentota Beach, its organisers announced yesterday. The festival will feature 9 legendary international reggae headlining artists making it one of the largest reggae gatherings ever staged in the region. Starting daily from 5.00 p.m. onwards, fans can…
Company to Highlight Region‑Specific Laundry, Kitchen and Built‑In Solutions, Along with Its AI Home Vision, for the Asia-Pacific Market News Summary At LG InnoFest 2026 APAC in Busan, LG Electronics presented its strategy for the Asia‑Pacific market, highlighting how innovation and technology are shaping the future of home living across the region. The showcase featured a…
Expands corporate offering with introduction of Mastercard purchasing card Reinforcing its commitment to Sri Lanka’s business community, Sampath Bank has introduced the Mastercard Business Credit Card, a dedicated solution designed to support the financial and operational needs of Small and Medium Enterprises (SMEs). Developed in partnership with Mastercard, the latest addition is geared towards improving…
LAUGFS Power PLC, the renewable energy arm of LAUGFS Holdings Limited, has recently strengthened its clean energy portfolio with the successful commissioning of the Kehelgamu Oya 2 MW Mini Hydro Power Project in Ginigathhena. The project has been developed by PAMS Power (Pvt) Ltd, a project company under LAUGFS Power PLC. Designed as a run-of-the-river…
Prime Lands Residencies PLC, a pioneer in Sri Lanka’s premium real estate landscape, recently announced the official handover of 43 by the Sea, welcoming its homeowners to one of Colombo’s most distinctive residential addresses on Marine Drive. Construction commenced in 2023, and the development has now been brought to life in full, marking the fulfilment…
The 10th Huawei ICT Competition APAC Finals and Awards Ceremony was held at the ASEAN Headquarters in Jakarta, Indonesia, with participation from students, educators and government representatives from across the Asia-Pacific region. Organised by Huawei together with the ASEAN Foundation, the competition attracted more than 8,600 students from 14 countries and regions. More than 160…
Seylan Bank PLC marked another milestone in its flagship Environmental, Social, and Governance (ESG) initiatives by opening its 291st ‘Pahasara’ Library at A/Buddhangala Central College, Padavi-Parakramapur. The ceremony was held on the 27th of March 2026, under the patronage of Ruwan Maithripala, Zonal Director of Education (Kebithigollewa), T.P. Jayasinghe, Divisional Director of Education (Padaviya), Kapila…
Top News
Jyoti Structures Limited, India, as lead partner, along with Hayleys Fentons Limited, Sri Lanka’s No. 1 Solar EPC and MEP contractor, has signed a joint venture contract for the construction of the Mannar–Mullikulam 220kV Double Circuit Transmission Line. The contract is the inaugural award issued by the newly established National Transmission Network Service Provider (Private)…
The International Monetary Fund (IMF) has scheduled May 27, 2026 for its Executive Board to decide on the Fifth and Sixth reviews of Sri Lanka’s Extended Fund Facility (EFF) programme. Once the review is approved by the IMF Executive Board, Sri Lanka will have access to about US$700 million in financing, according to the IMF.
The Central Bank of Sri Lanka (CBSL) announces the launch of an online Complaint Management System (CMS) marking a significant step to facilitate the submission of complaints and grievances by financial consumers relating to Financial Service Providers (FSPs) regulated by CBSL. The CMS has been introduced with the aim of enhancing accountability, efficiency, and transparency…
Marking a significant milestone in Sri Lanka’s journey toward a fully digital economy, PayPal, one of the world’s leading online payment platforms has been introduced to Sri Lanka through integration with the domestic banking system. The official launch of the service took place today (15) under the patronage of Hon. Prime Minister Dr. Harini Amarasuriya….
Financial Performance Net Interest Income – Rs. 3.41 billion (+12%) Net Fee and Commission Income – Rs. 0.77 billion (+55%) Operating Profit before Taxes on Financial Services – Rs. 2.17 billion(+ 14%) Profit Before Tax – Rs. 1.65 billion (+ 13%) Profit After Tax – Rs. 1.05 billion (+3%) Earnings per Share – Rs. 2.37…
With India poised to become the world’s third-largest economy, Sri Lanka must treat its nearest neighbour not as a trade rival but as its most consequential export destination. Key Takeaways India is no longer optional — it is a defensive necessity. The simultaneous erosion of Sri Lanka’s US market access (20% tariff, up from near…
According to today’s (15) daily exchange rates published by the Central Bank of Sri Lanka, the US Dollar buying rate is Rs. 323.53 and the selling rate is Rs. 331.15. This is the first time the Dollar’s buying rate has exceeded the Rs. 323 mark since December 5, 2023, and the first time the selling…
Revenue: Rs 47.3Bn, up 9% YoY NPAT: Rs 9.2Bn up +>100% YoY NPAT: Rs14.9Bn up over 100% YTD Taxes Paid to GoSL: Rs 16.0Bn (Rs 5.1Bn in Direct, Rs 10.9Bn Indirect) Investment in Digital Infrastructure: Rs 5.5Bn; Operating Free Cash Flow (OFCF): Rs 14.6Bn up +8% YoY First Interim Dividend: Rs 0.70 per share; Annualized…
Analysis
With India poised to become the world’s third-largest economy, Sri Lanka must treat its nearest neighbour not as a trade rival but as its most consequential export destination. Key Takeaways India is no longer optional — it is a defensive necessity. The simultaneous erosion of Sri Lanka’s US market access (20% tariff, up from near…
By Prof. Samitha Hettige When Sri Lankans were rushing to train stations to go home to celebrate Sinhala & Hindu New Year on 14th April 2026, Vietnam’s Paramount Leader & President ‘To Lam’ arrived in China for a 4 day state visit. He is referred such since he heads Vietnamese Communist Party & the government….
According to a research report by Mordor Intelligence, the coconut oil market size is projected to grow from USD 7.75 billion in 2026 to USD 11.05 billion by 2031, registering a CAGR of 7.36% during the forecast period (2026–2031). Growth is supported by rising demand for clean-label cooking oils, expanding use in pharmaceuticals, and increasing adoption in cosmetics and personal care products. Government initiatives in key producing countries such as the Philippines…
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