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JAAF congratulates NPP on securing clear majority in Parliament
The Joint Apparel Association Forum (JAAF), representing Sri Lanka’s largest export industry, extends its warm congratulations to the National People’s Power on securing a resounding majority in the General Election. As Sri Lanka begins a new chapter, JAAF reaffirms its commitment to working closely with the new leadership to drive economic growth, foster sustainable employment, […]
New SEC Chief Unveils Strategic Plans for Short-Term and Long-Term Capital Market Growth
Senior Professor D.B.P.H. Dissabandara, appointed as the new Chairman of the Securities and Exchange Commission of Sri Lanka (SEC), highlighted the importance of balancing market development with robust regulatory oversight to ensure the security, fairness, and efficiency of Sri Lanka’s capital markets. To achieve these objectives, Prof. Dissabandara outlined a comprehensive set of plans, focusing […]
First STS Operation for Liquid Cargo at Hambantota International Port
Hambantota International Port (HIP) has completed its first commercial ship-to-ship (STS) transfer operation for liquid cargo, marking another major milestone in the port’s expanding capabilities. The operation, carried out in collaboration with Singapore-based company Shipload Maritime to facilitate Laugfs vessel ‘Gas Challenger,’ highlights HIP’s commitment to becoming a key player in liquid cargo handling within […]
Final Results: President Dissanayake’s NPP Secures Two-Thirds Majority with 159 Parliamentary Seats
The National People’s Power (NPP) party, led by President Anura Kumara Dissanayake, has secured a two-thirds majority in the Sri Lankan Parliament. The NPP secured a dominant majority, receiving 6,863,186 votes and claiming 159 Parliamentary seats. Following them, the Samagi Jana Balawegaya (SJB) obtained 1,968,716 votes and 40 seats. The Ilankai Thamil Arasu Kachchi (ITAK) […]
Opinion: Sri Lanka’s Current Nutrition Challenges – How Can They Be Addressed?
By Dr Pulasthi Amarasinghe Sri Lanka is reaching a critical point as a result of poor access to affordable, nutritious food. Nutritional security has taken a backseat to simply meeting basic calorie requirements. The nutritional landscape can significantly improve through shifts in tobacco and alcohol expenditure to food without solely relying on major macroeconomic transformations. Appropriate […]
ComBank accelerates lending in Q3 as strong fundamentals spur growth
Loan book up by Rs 121.06 bn. in 9 months, with 44.20% of growth coming in Q3 CASA ratio improves to 39.60% at 30th Sept. 2024 Net interest income up 46.15% to Rs 88.98 bn. Total taxes for 9 months double to Rs 27.67 bn. The Commercial Bank of Ceylon Group has achieved impressive […]
United States lifts the security alert on the Arugam Bay area
The United States today lifted the security alert on the Arugam Bay area, following close collaboration with the Sri Lankan side and the immediate and extensive security measures put in place by the Ministry of Defence, the Ministry of Public Security and related agencies. Sri Lanka takes any security alert seriously, and accordingly the Sri […]
Opinion: Sri Lanka’s Financial Revival – Creating Markets That Attract, Engage, and Prosper
By Jithendra Antonio Sri Lanka, emerging from economic upheaval, the nation’s capital markets hold unprecedented promise, not only for financial gains but as a catalyst for national growth, resilience, and global integration. While this potential is clear, challenges like limited liquidity, shallow market structures, and a need for investor trust remain key barriers. To transform […]
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Fitch Ratings has assigned Commercial Bank of Ceylon PLC’s (COMB; A(lka)/Stable) proposed Sri Lankan rupee-denominated senior unsecured listed green bonds of up to LKR5 billion a final National Long-Term Rating of ‘A(lka)’. The final rating is the same as the expected rating assigned on 25 September 2024 and follows the receipt of documents conforming to […]
The onslaught of the beedi industry and its impact on Sri Lanka’s economy
Lack of tax collectability results in dampening of government revenue ambitions While Sri Lanka has made notable progress in tobacco control, with policies reducing cigarette consumption, the unchecked growth of the beedi industry presents a mounting threat to the economy. The informal nature of the beedi trade makes it difficult to regulate, allowing it to […]