Category: Economy and Markets
Ceylinco Cancer Centre unveils refurbished interiors
The Ceylinco Cancer Centre at Park Street, Colombo 2 recently completed a major refurbishment to offer a more comfortable and aesthetically-pleasing environment for visitors. The refurbishment encompassed the entrance and reception, visitors’ lounge, the waiting area for radiation treatment and the waiting area for CT Simulator imaging. The first standalone radiation therapy centre in Sri […]
Strengthening sustainability: JAAF and Solidaridad chart path for EU market alignment
The Joint Apparel Association Forum (JAAF) and Solidaridad, a civil society organization, recently co-hosted a one-day workshop in Colombo to address the European Union’s Corporate Sustainability Due Diligence Directive (CSDDD). Introduced in 2023, the CSDDD requires companies in EU-bound supply chains to meet stringent environmental and human rights standards. While Sri Lankan suppliers are not […]
‘s coconut industry
In a move to bolster Sri Lanka’s coconut industry, CBL Global Foods Limited (CBL GFL) a key player in Sri Lanka’s agribusiness sector and a subsidiary of the CBL Group—one of the leading food conglomerates in the country and the United States Agency for International Development (USAID) have launched a comprehensive handbook on best practices […]
CEAT acquires CAMSO brand Off-Highway Tyres & Tracks business from Michelin in Sri Lanka
CEAT, an RPG company and Michelin, the global leader in tyres, announced today that they have entered into a definitive agreement for CEAT to acquire Camso brand’s Off-Highway construction equipment bias tyre and tracks business from Michelin in an all-cash deal valued at about $225 Mn (SLR 65 Bn). The transaction will include the business […]
The UK-Sri Lanka Trade Mission Highlights Export Potential of Women-Led Businesses in Jaffna
The United Kingdom (UK)-Sri Lanka Trade Mission, co-organized by the International Trade Centre (ITC) and the Sri Lanka Export Development Board (EDB), successfully concluded its Jaffna program on 4th December 2024. This initiative highlighted the export potential of women-led businesses in Sri Lanka, particularly in the Northern region. The programme, part of the UK Government-funded […]
‘s Exports Surge by 18-pct in October 2024
As per the provisional data released by the Sri Lanka Customs, the country’s merchandise export performance in October 2024 reached an impressive US$ 1,097.1 million. This marks an 18.22% increase compared to October 2023, mainly driven by growth in the export of Apparel & Textiles, Tea, Rubber-based products, Coconut-based products, and Spices & Concentrates. Notably, […]
“If it doesn’t kill you, it makes you stronger” Jaffna’s 3AxisLabs’ journey into Artificial Intelligence.
By Jekhan Aruliah “If it doesn’t kill you, it makes you stronger”. This slogan could have been written for Artificial Intelligence. Actually it was coined over a hundred years ago by the nineteenth century German philosopher Nietzche. Coined at a time when intelligent robots were the stuff of science fiction and baloney. Nowadays the upsides […]
Delmege Insurance Brokers secures number one position in the business
Delmege Insurance Brokers Ltd, a trailblazer in the insurance brokerage sector, has proudly achieved the coveted position of being the highest ranked company in the Overall Insurance Brokering Business according to the Global and local Insurance Outlook 2023 published by the Insurance Regulatory Commission of Sri Lanka. This remarkable milestone underscores the company’s commitment to […]
”s long-term foreign currency issuer rating on review for upgrade
Moody’s Ratings (Moody’s) has announced a review for a potential upgrade of the Government of Sri Lanka’s Ca long-term foreign currency issuer rating, which was previously assessed as stable. Accordingly, Moody’s has assigned (P)Caal foreign currency senior unsecured ratings to Sri Lanka’s new USD-denominated issuances in its exchange offer. These include the macro-linked bonds (MLBs), […]
Ambeon Holdings makes a strategic investment in Seylan Bank for LKR 1.4 Bn
Ambeon Holdings PLC, a diversified conglomerate reputed for its market dominance across sectors such as financial services, real estate, technology, and strategic investments, made a significant strategic move in the financial services sector by acquiring a 7.63% stake in Seylan Bank PLC, further increasing its investments in the banking industry. This investment comes on the […]
SLIIT Northern Uni, ICT and Business Management Degrees in Jaffna
By Jekhan Aruliah I often walk past the SLIIT Northern Uni building in Jaffna at the junction of Arasadi and Palaly Road on my way from my place to Jaffna Town. I watched last year, 2023, with great interest as the foundations were laid, the columns and slabs were poured, the glass was fitted. There […]
IMF Managing Director Kristalina Georgieva Issues Statement to Financial Community on Sri Lanka
Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), issued the following statement about Sri Lanka to Members of the Financial Community today: “The Sri Lankan authorities have been implementing an ambitious economic reform program supported by the IMF, which aims to restore debt sustainability and external viability, underpin broad macroeconomic reforms, and strengthen […]