Covering the latest developments in the business world, including mergers and acquisitions, new product launches, executive changes, and company earnings reports.
Jetwing Hotels, an iconic name in Sri Lanka’s hospitality sector for over five decades, has made a significant investment of over USD one million to expand its solar photovoltaic (PV) installations by 1.6 megawatts (MW) by July 2024. The installation work, which began in December 2023, has reached an impressive 65% completion, showcasing Jetwing’s commitment
Singer, the renowned distributor of Sony Electronics in Sri Lanka, received accolades as a Strategic Alliance Partner during Sony’s Annual Business Partner Conference (BPC) held in Singapore. This recognition reflects the strong and fruitful partnership between the two entities, highlighting Singer’s commitment to introducing state-of-the-art Sony technology to consumers in Sri Lanka. Mahesh Wijewardene, Group
LAUGFS Eco Sri Limited, a leading provider of vehicle emission testing services in Sri Lanka, recently undertook a philanthropic endeavor aimed at restoring vision for cataract patients in marginalized communities. As part of their commitment to social responsibility and environmental awareness, the company’s management and staff collaborated to donate intraocular lenses to deserving patients identified
The Chairman of the Sri Lanka Ports Authority (SLPA), Keith D. Bernard, has announced that the Colombo Port is set to achieve its best performance ever this year, attributing this success to several factors including the recent infrastructure developments and measures taken to boost productivity. Bernard highlighted a significant increase in container movements (TUIs) and
The Hambantota International Port (HIP) recently welcomed the luxury cruise ship ‘Serenade of the Seas’ on April 29, marking its maiden call at the port. The ship, part of Royal Caribbean International’s Radiance Class vessels, carried 1,950 passengers and 890 crew members, adding to the growing number of cruise ships visiting HIP in 2024. This
The Southern MICE Expo 2024, organized by the Sri Lanka Convention Bureau (SLCB) with support from the Ministry of Tourism, commenced on April 29, 2024, and is set to run from May 27 to May 31, 2024. This event aims to showcase Sri Lanka’s southern region as a top-tier destination for Meetings, Incentives, Conferences, Exhibitions,
The Port of Tianjin in China has offered its support to transform Sri Lanka’s Port of Colombo into a green port, focusing on reducing carbon dioxide emissions. Chairman Chu Jin led a delegation from the Port of Tianjin, ranked ninth globally in container port standings, in discussions with Minister Nimal Siripala de Silva of Ports,
The Financial Stability Board’s Regional Consultative Group for Asia convened in Colombo on April 29, focusing on recent developments and vulnerabilities in financial markets that require closer scrutiny. Discussions revolved around promoting the implementation of the FSB regulatory framework for crypto-asset activities across Asia, as well as exploring the implications of artificial intelligence’s increasing use
AIA Group Limited has reported a significant 31% growth in the value of new business (VONB) on constant exchange rates (CER) for the first quarter ending March 31, 2024. This growth reflects the company’s competitive strengths and financial discipline, with a record high quarterly VONB of US$1,327 million and double-digit growth across all reportable segments.
HNB PLC, a leading private sector bank in Sri Lanka, has forged a strategic partnership with Micro Cars Limited aimed at providing exceptional benefits and exclusive offers to customers looking to buy vehicles from Micro Cars. The partnership covers the purchase of PROTON SAGA, SAIC ALMAZA, and TIGGO4 PRO vehicles from Micro Cars, offering a