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DNA – Ravi Jaipuria, an Indian billionaire businessman and chairman of Varun Beverages, is set to acquire a 50 per cent stake in Sri Lanka’s Everest Industrial Lanka (Private) Limited (EIL) for a consideration of USD 3.75 million or Rs 3.20 crore, ET reported. His company stated in an exchange filing, “EIL, a company in…
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It is said that respect is earned, while excellence is achieved. The Overseas School of Colombo (OSC) has once again demonstrated why it is Sri Lanka’s leading international school, following a successful tri-agency accreditation involving the International Baccalaureate (IB), the Council of International Schools (CIS), and the Middle States Association of Colleges and Schools (MSA)….
The Public Relations Association of Sri Lanka (PRASL), in collaboration SCoRe, is pleased to present a pioneering professional development workshop titled “Unlocking the Power of AI” that is specifically intended for public relations and communications professionals navigating the media, messaging, and technological landscape of the future. Hemant Gaule, Dean and Co-Founder of SCoRe, a renowned…
On May 16th, China Cultural Center in Sri Lanka held a media briefing for the “2025 Tea for Harmony: Yaji” series events. Chinese and foreign media outlets, including “Daily News,” “Ada Derana,” “Lankadeepa,” “Ceylon Chinese Voice,” “Mirror,” “Legal Daily,” and “Xinhua News Agency,” were invited to attend. Mr. Ni Lisheng, Director of China Cultural Center…
Empowering digital entrepreneurship islandwide, SLT-MOBITEL and the Online Entrepreneurs Club of Sri Lanka (OECSL) have officially signed a strategic partnership agreement. The agreement will strengthen Sri Lanka’s growing community of digital entrepreneurs, technopreneurs, and freelancers boosting their growth potential. The partnership is an important step in SLT-MOBITEL’s ongoing efforts to support the country’s digital economy…
Samsung, Sri Lanka’s largest consumer electronics brand, announced the launch of its ultra-premium 2025 models of Neo QLED 8K, OLED, QLED TVs and The Frame lineup, bringing the revolutionary Samsung Vision AI technology to Sri Lankan consumers. At the heart of this launch is the new Samsung Vision AI that delivers an unparalleled home entertainment…
Xiaomi, the global technology innovator, proudly announces the launch of its latest budget powerhouse – the Redmi A5 – in Sri Lanka. Branded with the tagline “Vibe of Youth”, the Redmi A5 is crafted for young, dynamic users seeking style, performance, and value in one sleek package. Designed to deliver more than just the basics,…
Nestlé Professional partners with the Chefs Guild of Lanka and the Sri Lanka Hospitality Graduates Association Nestlé Professional, the B2B arm of Nestlé Lanka signed a Memorandum of Understanding (MOU) with the Chefs Guild of Lanka and the Sri Lanka Hospitality Graduates Association to collaborate in organizing the Nestlé Golden Chef’s Hat Competition 2025 –…
The Commercial Bank of Ceylon has chosen Vavunathivu in the Batticaloa District as its second ‘Agri Modernisation Village’ in Sri Lanka, following the success of the Bank’s pilot Agri Modernisation Village programme in Mahilankadu in Kilinochchi. Commercial Bank’s Agri Modernisation Village Programme is an ambitious, village-by-village mission launched to propagate technology in the agriculture sector,…
The 30th National Bartenders Competition, Sri Lanka’s most prestigious bartending event, is off to a strong start, celebrating three decades of mixology excellence, creativity, and professional growth. Powered by International Distillers Ltd (IDL) and organized by the Sri Lanka Hospitality Graduates Association (SLHGA) in collaboration with the Sri Lanka Institute of Tourism and Hotel Management…
To celebrate Vesak which denotes the birth, enlightenment and death of Lord Buddha, Citizens Development Business Finance PLC (CDB) organized a week-long celebration at its Head Office premises from the 12th of May, which was the date of Vesak Poya Day. These annual celebrations, held for more than ten years, include a lantern competition, a…
Top News
Strengthening Diplomatic Engagement for Export Growth The Sri Lanka Export Development Board (EDB) hosted an orientation programme for the newly appointed Heads of Sri Lanka Missions on 16th May 2025 at the EDB. Organized at the request of the Ministry of Foreign Affairs, Foreign Employment and Tourism, the session aimed to brief the Heads of…
Reuters – Asian stocks rose on Tuesday while U.S. Treasury yields steadied allowing a bit of a breathing room for the U.S. dollar as investors took stock of the debt load of the world’s biggest economy and awaited trade deals. Moody’s downgrade of its rating for U.S. sovereign credit last week – due to concerns about that…
Reuters – Moody’s on Monday downgraded the long-term ratings of top American lenders such as JPMorgan Chase, opens new tab, Bank of America, opens new tab and Wells Fargo, opens new tab, after pushing the U.S. out of top triple-A rating club over its burgeoning $36 trillion debt. It also downgraded the long-term deposit ratings of…
The Ceylon Chamber of Commerce recently hosted an engaging interactive session with Sri Lanka’s newly appointed Heads of Mission to key global destinations, offering the local business community a valuable opportunity to connect directly with the country’s outgoing ambassadors and high commissioners. The event hosted Ambassadors designated to Cuba, India, Japan, Pakistan, the United Arab…
Dialog Axiata PLC, Sri Lanka’s #1 connectivity provider and a member of the Dialog Axiata Group – the country’s largest Foreign Direct Investor (FDI) operating under the guidance of the Board of Investment of Sri Lanka (BOI) – announced a USD 100 million investment to further strengthen Sri Lanka’s digital infrastructure. With cumulative investments now…
Hambantota International Port (HIP) marked a significant milestone in its cruise operations, welcoming the Sphinx class AIDAstella, the first vessel from AIDA Cruises to call at the port. The luxury liner, which called at the port during the vesak weekend, is the seventh in a series of Sphinx class ships owned by the Cruise Line. The AIDAstella,…
Purchasing Managers’ Indices indicate the seasonal contraction in Manufacturing activities and an expansion in Services activities in April 2025. Following the seasonal pattern, Sri Lanka Purchasing Managers’ Index for Manufacturing (PMI – Manufacturing) declined to 40.1 in April 2025. The key sub-indices of Production, New Orders, Stock of Purchases and Employment contracted during the month, resulting in an overall decline…
Sets a strong foundation for robust growth Maintains strong capital buffers of over 800 bps against the regulatory requirement Asset quality continues to improve further with Net Stage 3 ratio at 1.82% Integrates the fully owned investment banking business under the group HNB continued its growth trajectory in Q1 2025, recording a YoY growth of…
Analysis
By Dr Asanka Wijesinghe The United States’ (US) proclamation of “reciprocal tariffs” dealt a blow to the global trade system based on the World Trade Organisation (WTO) principles. With the individualised tariff rates, the US has discarded non-discrimination in the Most-Favoured-Nation (MFN) tariff structure. The “reciprocal tariff” rate does not show any reciprocity but rather…
The Economy – Economic Sentiment Wavers A notably cautious economic and business outlook has settled over corporates with PepperCube Consultants reporting a more tempered perspective in biz circles. This is line with the mighty fall in business confidence in April. THE ECONOMY The latest LMD-PEPPERCUBE Business Confidence Index (BCI) survey, conducted in the first week of April,…
Fitch Ratings: Emerging-market (EM) issuers are variously exposed to direct and indirect impacts from the global trade war, Fitch Ratings says in a new report. Credit pressures may become most evident in EMs where tariff effects combine with aggravating factors or add to pre-existing pressures, even if direct US tariff exposures are small. APAC’s high…
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