Sri Lanka’s agricultural sector is set for a significant improvement with CIC Seeds (Pvt) Ltd., a subsidiary of CIC Agribusiness, achieving a major breakthrough. For the first time in the country, a private company has successfully developed and launched five new varieties of hybrid vegetable seeds. This accomplishment is the result of intensive research conducted

Fitch Ratings has assigned a positive ‘AA- (lka)’ National Long-Term Rating to the proposed debenture issuance by Sri Lanka’s Abans PLC. Abans, a leading consumer electronics retailer, is offering senior unsecured redeemable debentures valued at LKR 1.0 billion, with the potential to increase the offering to LKR 2.0 billion. The debentures hold the same ranking

Sri Lanka’s Central Bank (CBSL) recently implemented a salary revision for the 2024-2026 period, sparking public debate. This decision, reached through a collective agreement between the bank’s Governing Board and employee representatives, drew criticism. In response to the public outcry, a significant portion of CBSL’s senior management and professionals opted to revisit their own salary

Sri Lanka’s economic revival is turning heads, and Colombo Dockyard PLC (CDL) is feeling the wave. With a recently bolstered business environment, CDL participated in the prestigious 18th “APM 2024” exhibition in Singapore, marking their first time as an active exhibitor at this crucial event. This strategic move targeted a key market segment: Singaporean ship

Sri Lanka’s ambitious plan to harness clean energy through a wind power project in Mannar has hit a roadblock. Despite its potential to provide cheap renewable energy and reduce dependence on fossil fuels, the project faces opposition from some political groups. This has resulted in the removal of six wind turbines and the allocation of

Sri Lanka’s booming IT industry faces a growing challenge: the safe disposal of electronic waste, or e-waste. This hazardous material, if not managed responsibly, poses a significant threat to both public health and the environment. Fortunately, companies like Cleantech (Pvt) Ltd. are emerging as leaders in tackling this issue. Cleantech has established itself as a

Sri Lanka’s FitsAir, a budget-friendly airline, is expanding its reach with the launch of direct flights between Colombo and Dhaka, Bangladesh. This new route, starting April 16, 2024, signifies a major development in regional aviation, catering to the growing demand for affordable travel options between the two countries. The decision to establish this connection stems

Sri Lanka is taking a significant leap towards a more sustainable future with the launch of a groundbreaking project called “Charge While You Shop.” This initiative, a collaboration between Cargills, a Sri Lankan retail giant, and the United States Agency for International Development (USAID), aims to make renewable energy more accessible to electric vehicle (EV)

Sri Lankan frontrunner HNB PLC, a leading private bank, has joined forces with the International Construction Consortium (Pvt) Ltd (ICC) to provide exclusive financial solutions for potential homeowners in ICC’s newest development, “The Residencies Kotte.” This partnership, solidified through a signed Memorandum of Understanding (MoU), aims to streamline the homeownership journey for aspiring residents. The