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Sampath Bank Records Half Year Results with Profit After Tax of Rs 16.6 Bn, Reflecting 13% Year-on-Year Growth
Financial Performance Sampath Bank delivered a strong financial performance for the six months ended 30th June 2026, reporting Total Operating Income of Rs 63.3 Bn, an increase of 17% compared to the corresponding period last year. The Bank’s performance was driven by sustained growth across its core revenue streams, with Net Interest Income increasing by […]
JXG signs agreement to acquire 100% stake in Continental Insurance Lanka Limited
Janashakthi PLC (JXG) has entered into a Share Purchase Agreement with Melstacorp PLC (MELS), the sole shareholder of Continental Insurance Lanka Limited (CILL), to acquire a 100% stake in CILL, subject to the approval of the Insurance Regulatory Commission of Sri Lanka (IRCSL). The transaction will see JXG acquire an initial 81% controlling stake, followed […]
Sri Lanka remains vulnerable to energy price shock but is more resilient than in the past – Moody’s Ratings
Bangladesh (B2 negative), Pakistan (Caa1 stable) and Sri Lanka (Caa1 stable) are among the most vulnerable economies in Asia to high oil prices stemming from the Middle East conflict, Moody’s Ratings said in their latest analysis. However, the countries have built capacity to absorb shocks in recent years, so are less exposed than in 2022, […]
Opinion: Neoliberal policies slowing down Sri Lanka
By Indika Hettiarachchi Key Points: Despite 5.1 percent GDP growth during the first quarter of 2026, IMF predicts Sri Lanka’s GDP growth will remain around 3 percent in 2026 and 2027. Many investors are concerned as to why measures to catalyze post crisis economic recovery are not producing higher economic growth. One of the first […]
Ceylon Chamber of Commerce & Maldives Business Chamber Sign MOU to Expand Bilateral Business Opportunities
The Ceylon Chamber of Commerce and the Maldives Business Chamber have entered into a Memorandum of Understanding (MoU) that will create new opportunities for businesses in Sri Lanka and the Maldives to expand trade, investment, and commercial partnerships. The signing took place in the presence of Hon. Wasantha Samarasinghe, Minister of Trade, Commerce, Food Security […]
Cabinet Approves US$ 100 Mn World Bank Facility for Northern and Eastern Development
The Cabinet of Ministers has approved a proposal submitted by the President, in his capacity as the Minister of Finance, Planning and Economic Development, to enter into financial agreements with the World Bank Group’s International Development Association to obtain a US$ 100 million loan facility. This allocation forms part of a broader US$ 1,000 million […]
Cabinet Approves Tender to Build Three Fuel Storage Tanks at Muthurajawela Terminal
The Cabinet of Ministers has approved a proposal by the Minister of Energy to award the contract for constructing three new fuel storage tanks at the Muthurajawela Terminal to a joint venture comprising M/s Indo-East Engineering & Construction (Lanka) (Private) Limited and Ceylex Engineering (Private) Limited. Selected as the lowest bidder through an international competitive […]
Cabinet Approves Rs. 1 Bn Funding Package for Lanka Metro Transit
The Cabinet of Ministers has approved a total funding allocation of Rs. 1,067.5 million for Lanka Metro Transit (Private) Limited, comprising Rs. 800 million in equity capital for infrastructure development and an additional Rs. 267.5 million for operational requirements in 2027. Submitted by the Minister of Transport, Highways, and Urban Development, the proposal supports the […]
Sri Lanka Business Delegation to India: Strengthens Bilateral Trade and Opens New Opportunities for Gem & Jewellery Sector
The Sri Lanka Export Development Board (EDB), with the support of the Sri Lanka High Commission in New Delhi and the Sri Lanka Consulate in Mumbai, is organizing a Sri Lankan Business Delegation to India from 8th to 13th August 2026, with a focus on strengthening bilateral trade and investment relations and expanding opportunities for […]
Ambassador Saman Chandrasiri Presents Credentials to the President of the State of Israel
The newly appointed Ambassador of Sri Lanka to the State of Israel, Saman Chandrasiri, presented his Letter of Credence to H.E. Isaac Herzog, President of the State of Israel, on 3 August 2026 at Beit HaNassi, the President’s Residence in Jerusalem. President Herzog warmly welcomed Ambassador Chandrasiri and wished him success in his assignment in […]
Rosamund Pike visits Sri Lanka as mine clearance reaches one-million milestone
Golden Globe, Emmy, and Olivier Award-winning actor Rosamund Pike, ambassador to the Mines Advisory Group (MAG), is visiting Sri Lanka this week as the country marks the clearance of one million landmines over the past 17 years. Her visit highlights the remarkable progress made by Sri Lanka’s mine-action sector and the importance of maintaining momentum […]
Cinnamon Box Office: Launch of Destination Event Calendar to Elevate Colombo’s Entertainment Landscape
Cinnamon Box Office unveils a new era of entertainment with the world’s leading Michael Jackson tribute concert, This Is Michael – Relive the Legend, presented by City of Dreams Sri Lanka CCinnamon Box Office (CBO), the strategic ticketing engine connecting audiences, event partners and world-class productions, introduced its Destination Event Calendar at the official launch […]