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Fitch Ratings has assigned Commercial Bank of Ceylon PLC’s (COMB; AA-(lka)/Stable) proposed Sri Lankan rupee-denominated Basel III-compliant subordinated green bonds of up to LKR15 billion a final National Long-Term Rating of ‘A(lka)’. The final rating is the same as the expected rating assigned on 7 April 2025 and follows the receipt of documents conforming to […]
Transparency International Sri Lanka Challenges the National Audit (Amendment) Bill
Transparency International Sri Lanka (TISL) filed legal action on Tuesday 22 July 2025, in the Supreme Court challenging the National Audit (Amendment) Bill which was published in the gazette on 23rd June 2025. The Bill is to amend the National Audit Act No. 19 of 2018. The petition has been filed in public interest. The […]
Pan Asia Bank felicitated for exemplary professionalism by the Central Bank of Bangladesh
In a ceremony at Bangladesh Bank headquarters in Motijheel recently, officials from Sri Lanka’s Pan Asia Banking Corporation (PABC) received high praise for thwarting a major cyber fraud aimed at siphoning US $20 million from Bangladesh Bank’s account at the Federal Reserve Bank of New York. Bangladesh Bank Governor Dr Ahsan H. Mansur led the honour, […]
The future of electric driving has arrived
Electric cars are no longer just about saving fuel or reducing emissions. They’re quickly becoming the new standard for luxury, technology, and smart mobility. And two new models are making waves for all the right reasons. Quietly referred to as the IM5 and IM6, these next-generation sedans are changing how we think about driving. A […]
Central Bank Imposes New Loan-to-Value Caps on Motor Vehicle Financing
The Central Bank of Sri Lanka (CBSL) yesterday announced new Directions, effective July 18, 2025, imposing maximum loan-to-value (LTV) ratios on credit facilities granted for the purchase or utilization of motor vehicles. These measures, outlined in “Central Bank of Sri Lanka Act Directions No. 02 of 2025,” aim to enhance macroprudential policymaking, mitigate systemic risks, […]
President Inaugurates Wax Museum at the Historic Ehelepola Walawwa in Kandy
President Anura Kumara Dissanayake officially opened the Wax Museum this morning (17) at the historic Ehelepola Walawwa in Kandy. The Ehelepola Walawwa, which was renovated by the Urban Development Authority, has been handed over to the Temple of the Sacred Tooth Relic. The museum was then established, ensuring the preservation of its archaeological and cultural […]
Pre-Budget Discussions for 2026 Begin
A discussion on the preliminary budget framework and development direction related to the submission of proposals for the 2026 Budget was held yesterday afternoon (16) at the Presidential Secretariat between President Anura Kumara Disanayake and officials of the Ministry of Finance. Accordingly, the President inquired from the Ministry of Finance officials about the current progress […]
MoU to establish a laboratory with international accreditation facilities with a USD15 mn investment
A Memorandum of Understanding (MoU) was signed this morning (15) at the Presidential Secretariat between STEMedical of the USA and the Sri Lanka Institute of Biotechnology (SLIBTEC) to establish a laboratory with internationally recognised accreditation. The MoU for this $15 million investment project, conducted under the guidance of the National Initiative for Research and Development […]
SLPMA unveils compelling ‘National Call to Produce Medicine in Sri Lanka’ as strategic priority
The Sri Lanka Pharmaceutical Manufacturers’ Association (SLPMA), in a historic step, has issued a powerful national call to action urging all stakeholders to come together in a bold, unified effort to shape a future where Sri Lanka emerges as a trusted, high-quality, and export-driven pharmaceutical manufacturing hub. In a decisive move to transform Sri Lanka’s […]
Applications Invited for the 27th Presidential Export Awards
The Sri Lanka Export Development Board (EDB) is now calling for applications for the 27th Presidential Export Awards, which will be held under the patronage of His Excellency President Anura Kumara Dissanayake in December 2025 at the Bandaranaike Memorial International Conference Hall (BMICH). This year too, exporters are provided with the opportunity to submit their […]