Examining specific industries such as technology, healthcare, finance, and manufacturing, including trends, challenges, and opportunities within each sector.
HNB Assurance PLC (HNBA) has announced the appointment of Prof. Ananda Jayawardane as a non-executive/non-independent Director, effective August 9. Prof. Jayawardane is a Senior Professor in Civil Engineering at the University of Moratuwa and serves as a Commission Member of the University Grants Commission. He has held governing roles in various public and private sector
Union Bank recently recognised the remarkable contributions of its long-serving employees during the Long Service Awards ceremony. The event celebrated individuals who have dedicated 20 and 25 years to the growth and success of the organisation. Director/CEO Dilshan Rodrigo, alongside the corporate management team, presented the awards. Honourees included Shiran Punchihewa, Indika Igalawithana, and Janithi
People’s Leasing & Finance PLC, a trusted name in Sri Lanka’s non-banking financial sector, has introduced the GoldCash card, an innovative financial tool available to customers from October 1. This new product offers a convenient, flexible, and secure method for individuals to leverage their gold assets for credit. Speaking on the launch, CEO Sanjeewa Bandaranayake
The Central Bank of Sri Lanka (CBSL) issued a statement today clarifying that, although September 23, 2024, is a public holiday, it is not a bank holiday. This announcement comes in response to a special media release from the Director General of the Government Information Department, which noted that the Secretary to the Ministry of
Sri Lanka has reached an agreement in principle to restructure approximately USD 14.2 billion in sovereign debt with International Sovereign Bond (ISB) holders and has also finalized an agreement with the China Development Bank, according to State Minister of Finance, Shehan Semasinghe. Semasinghe announced on Thursday, September 19, that the ISB deal was secured after
Inovartic Investment Lanka Ltd., a new joint venture between Sri Lanka’s Apex Asia Holdings and UAE’s Inovartic Investment LLC, is set to advance the manufacturing of graphene and related products in Sri Lanka and Abu Dhabi. Supported by Abu Dhabi University (ADU) and in collaboration with the Sri Lanka Institute of Nanotechnology (SLINTEC), this partnership
The US Federal Reserve has cut its interest rate by 50 basis points, bringing the target overnight rate to 4.75%-5.00%. Fed Chair Jerome Powell stated that inflation and employment are now more balanced. “Inflation is much closer to our target, and we are increasingly confident that it is moving sustainably toward 2 percent,” Powell said
Ceylinco Life has announced its pioneering investment of Rs. 2 billion as the anchor investor in Sri Lanka’s first-ever Green Bond, issued by DFCC Bank. This landmark initiative, opening for subscription today, aims to raise up to Rs. 2.5 billion to fund solar photovoltaic (PV) power generation projects, including ground-mounted, floating, and rooftop solar facilities
The Cabinet has officially approved the IT Strategic Plan for the Inland Revenue Department, as announced by Cabinet Spokesman and Minister Dr. Bandula Gunawardhana during a press conference held at the Government Information Department on September 10, 2024. Dr. Gunawardhana detailed that the IT Strategic Plan, designed to digitize the Inland Revenue Department, was a
The Chamber of Young Lankan Entrepreneurs (COYLE) has launched an ambitious initiative known as the COYLE Global Platform, aimed at empowering Sri Lankan industries to establish a foothold in international markets. This groundbreaking project is a collaboration between COYLE and its former members, along with international business chambers, to elevate Sri Lankan enterprises to new