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Alliance Finance Company PLC (AFC), the pioneer and leader in sustainable finance, proudly announces the issuance of Sri Lanka’s first Green Bond by a Non-Banking Financial Institution (NBFI). This groundbreaking initiative reinforces AFC’s commitment to advancing Sri Lanka’s green economy and accelerating the transition towards a low-carbon, climate-resilient future. As an institution deeply rooted in…
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Policyholders advised to submit children’s applications before 30th April Sri Lanka’s leading life insurer Ceylinco Life has announced an allocation of Rs 22.4 million to be paid out as scholarships to high achieving young Sri Lankans in 2025, continuing a flagship rewards programme the company launched more than two decades ago. With this 24th edition…
Thirty schools in Sri Lanka have received equipment for traffic and pedestrian management from CEAT Kelani Holdings, as the country’s leading tyre manufacturer concluded the 15th year of its road safety programme for school children. Each of these beneficiary schools received five signboards, 10 traffic cones and 10 traffic warden jackets for the use of…
Hayleys Solar, the renewable energy arm of Hayleys Fentons Limited, has secured exclusive distribution rights for Bluetti Power Stations in Sri Lanka. Available in three capacities—300W, 1000W, and 2400W—these innovative portable power stations are now available islandwide. The Bluetti Portable Power Station delivers up to 10 years of optimal performance, built with a robust Lithium…
NDB Bank recently hosted a successful Customer Engagement Forum at the North Gate Hotel, Jaffna. The exclusive event brought together 100 invitees, including the Bank’s top-tier clientele, SMEs, and aspiring exporters, fostering a dynamic platform for networking, learning, and growth. With the aim of further strengthening its relationships with customers in the northern region, the…
AIA Insurance marks its fifth year of being recognized as the Best Life Insurance Company in Sri Lanka. Awarded by the internationally renowned Capital Finance International (CFI) and Global Banking and Finance Review (GBFR), these supreme achievements stand as a testament to AIA’s unwavering commitment to innovation, customer-centricity, and community empowerment in the face of…
Nestled amidst the breathtaking landscapes of Uva, Sarnia Estate has stood the test of time, transforming from a coffee plantation in the 19th century into a beacon of the highest quality tea cultivations, while preserving its rich historical essence. Bordering the Randenigala Reservoir and the wild life sanctuary of Randenigala, Sarnia stands on the eastern…
Continues Award-Winning Streak for ‘Books that Keep on Giving’ Campaign Geometry Global, a Strategic Business Unit of the Ogilvy Group Sri Lanka, won two coveted Gold Awards at the recently concluded Effie Awards Sri Lanka 2024. The agency’s “Books that Keep on Giving” campaign for ProMate (Printxcel), a leading stationery manufacturer in Sri Lanka, secured…
HNB FINANCE PLC, Sri Lanka’s leading integrated financial services provider, has announced the relocation of its branch in Mullaitivu on 23 December 2024. This initiative reflects the company’s commitment to enhancing accessibility and addressing the increasing demand for integrated financial services across the island. The new HNB FINANCE Mullaitivu branch is relocated at Main Street,…
Xiaomi, the global technology leader, has officially launched the Redmi Note 14 Series in Sri Lanka at a press conference held at Cinnamon Life Colombo. The series introduces advanced innovations in photography, design, and performance. The launch event highlighted Xiaomi’s commitment to delivering high-quality, accessible technology. Speaking at the launch, Shubham Jangir, Country General Manager…
OREL IT, a global technology company, pushing the boundaries of cybersecurity, cloud solutions, and AI-powered digital innovations, has been honoured with the Most Innovative Service Provider of the Year at the 26th Presidential Export Awards (PEA) 2024. The ceremony, hosted by the Sri Lanka Export Development Board (EDB), took place at the Bandaranaike Memorial International…
Top News
President Anura Kumara Dissanayake highlighted that due to the mismanagement of public finances by previous administrations, the country had fallen into bankruptcy and is currently operating under a probationary period of the International Monetary Fund (IMF) program. Given this situation, he emphasized that the Budget 2025 has taken the initial steps towards building a strong…
Introduces first-ever smart transformer technology to the nation’s rooftop solar installations Hayleys Solar, the renewable energy arm of Hayleys Fentons Limited, has successfully completed the design, supply, installation, and commissioning of a groundbreaking 6.9 MW rooftop solar photovoltaic (PV) system for Access Logistics Private Limited in Negombo – the largest single solar roof installation ever…
A discussion led by Dr. Hans Wijayasuriya, Senior Advisor to the President on Digital Economy Affairs, was held at Sri Lanka CERT to reinforce cybersecurity measures in alignment with the government’s digital economy policy. The meeting emphasized the importance of proactive steps to enhance national cybersecurity resilience. The discussion was attended by Sri Lanka CERT…
Fitch Ratings-Hong Kong/London-18 February 2025: The US administration’s inclusion of a broad range of factors in its assessment of whether trade relations with foreign trading partners are fair and reciprocal will increase uncertainty over the scale of tariffs that could be introduced, and which markets could be affected, says Fitch Ratings. Sovereigns that have significant…
The Executive Board of the International Monetary Fund (IMF) is scheduled to meet on February 28, 2025 to discuss and approve third review of Sri Lanka’s Extended Fund Facility (EFF) programme. The IMF staff and the Sri Lankan authorities reached a staff-level agreement on the Third Review of Sri Lanka’s EFF program on November 23,…
The Ceylon Chamber of Commerce welcomes bold proposals in the budget that align with its recommendations, Sri Lanka Economic Summit discussions, and Vision 2030 goals. The 2025 Budget focuses on stability, governance, public relief, tackling corruption, and driving inclusive growth. The Budget emphasises infrastructure expansion through Public-Private Partnerships (PPPs) and digital economy initiatives, providing a…
Reuters – Sri Lanka’s budgeted expenditure for 2025 will likely lead to a wider fiscal deficit and slower-than-expected fiscal consolidation, Moody’s Ratings said on Tuesday, a day after the island nation unveiled its budget. Sri Lanka aims to transform its crisis-hit economy to prepare to resume debt repayments from 2028, President Anura Kumara Dissanayake said on…
Sri Lanka’s banks have welcomed the maiden budget of the new government, describing it as “positive” and one that seeks to maintain policy consistency, especially on the fiscal path. In a statement, the Sri Lanka Banks’ Association (SLBA), which represents all licensed banks in Sri Lanka, commended the budget proposals presented to Parliament by President…
Analysis
Fitch Ratings-Hong Kong/London-18 February 2025: The US administration’s inclusion of a broad range of factors in its assessment of whether trade relations with foreign trading partners are fair and reciprocal will increase uncertainty over the scale of tariffs that could be introduced, and which markets could be affected, says Fitch Ratings. Sovereigns that have significant…
By Dr Manoj Thibbotuwawa and Dr Lakmini Fernando Public expenditure on agriculture as a share of total government spending has decreased from 6.4% to 2% between 2014 and 2023. The irrigation subsector receives most of the agricultural spending (41%), with subsidies accounting for a high 26%. Change to funding priorities necessary to address critical concerns….
By Prof. Samitha Hettige Chinese Astronauts (Taikonauts) in Shenzhou -19 recently simulated natural photosynthesis taking the human race one step forward on board China’s space station ‘Tiangong’. They for the first time produced oxygen & the ingredients for rocket fuel. Scientists believe that these are key steps essential for human survival & space explorations. 12…
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