Category: Industry
MIFL records PBT of LKR 818Mn in FY 2025-26, up 193-pct YoY
Mahindra Ideal Finance Ltd. (MIFL) reported its strongest ever financial performance in the year ended 31 March 2026, recording significant growth across profitability, lending volumes, and operational efficiency. The company posted a Profit Before Tax (PBT) of LKR 818 million, reflecting a 193% Year-on-Year (YoY) increase, while Profit After Tax (PAT) rose to LKR 478 […]
Sri Lanka’s real estate leaders chart a 10-yr vision at RIUNIT forum
Sri Lanka’s most influential voices in property, investment, policy and urban development convened at the Port City Sales Gallery on Monday, 5th May 2026, for Driving Growth Through Real Estate: 10 Year Plan – a high-level forum conceptualised and hosted by the Research Intelligence Unit (RIUNIT). The half-day forum, held from 2:30 PM to 7:00 […]
Vietjet Air announces Colombo – Ho Chi Minh City route, strengthening Sri Lanka – Vietnam cooperation
Vietjet Air, Vietnamese new-age hybrid airline, has announced its first direct service connecting Colombo to Ho Chi Minh City at the Sri Lanka – Vietnam Trade, Investment and Tourism Cooperation Forum. The announcement took place in the presence of General Secretary and President of Vietnam To Lam, Prime Minister of Sri Lanka Harini Amarasuriya, and […]
Ceylon Chamber to Host Mineral Sands Technical Conference with Mineral Technologies Australia
As Sri Lanka looks to better position its mineral sands resources within a globally competitive and responsibly developed industrial framework, The Ceylon Chamber of Commerce will host a one-day Technical Conference on the mineral sands sector on 17 June at the Galle Face Hotel, Colombo from 9.00 a.m. to 5.00 p.m. As global demand for […]
New threat to IT services? Anthropic to launch AI services firm: What it means
Anthropic has teamed up with Goldman Sachs, Blackstone and other global investors to launch a $1.5B venture focused on deploying AI directly inside companies. Instead of just selling tools, the new firm will embed engineers into businesses to build and integrate Claude AI into real workflows—targeting the biggest gap in AI adoption: implementation. With backing […]
How the best AI development companies in Sri Lanka are transforming the future of enterprise AI
When mentioning enterprise AI, the first things that often come to mind for most are LLMs, chatbots and the occasional forecasting abilities brought on by custom solutions. However, numerous leading offshore software development companies in Sri Lanka will tell you that there’s more to enterprise AI than prompt-based tools and automatic recommendations. There are multiple […]
Nations Trust Bank completes the transfer of HSBC Sri Lanka’s Retail Banking Business to its portfolio
Nations Trust Bank PLC (NTB) has announced that the transfer of Hongkong and Shanghai Banking Corporation’s (HSBC) Retail Banking business in Sri Lanka to NTB has officially been completed, with the acquired portfolio transitioning to NTB effective 1st May 2026. NTB has integrated HSBC Sri Lanka’s retail banking customers into its operations, ensuring continuity of […]
VIDEO: Anthropic Mythos AI – Why Banks, Governments Fear This Cybersecurity Tool
A powerful new AI model from Anthropic is raising alarm across the global financial system. Called Mythos, it can detect and exploit hidden software vulnerabilities faster than human experts, triggering fears of more sophisticated cyberattacks. With access restricted to a handful of firms, banks and regulators are now scrambling to assess the risks, from disruptions […]
Rs. 38 Bn Shortfall in Power Generation Costs; Taxpayers to Fund Rs. 15 Bn Govt Subsidy as PUCSL Opens Public Consultation
Sri Lanka’s Public Utilities Commission (PUCSL) has announced that rising fuel costs will create a Rs. 38 billion shortfall in electricity generation expenses for the second and third quarters of 2026. To cushion households, the government will provide a Rs. 15 billion subsidy funded by taxpayers starting May 10, ensuring that 95% of domestic and […]
CICT Achieves Record Throughput with MSC INGY Call
Colombo International Container Terminals (CICT) has recorded its highest-ever single-vessel performance, handling 10,407 container moves, equivalent to 15,113 TEUs, during the recent call of MSC INGY, marking a new operational milestone for the terminal. The vessel, operated by Mediterranean Shipping Company (MSC), represents one of the larger container ships calling at Colombo, reflecting the terminal’s […]
Emerald Clothing Steps into Acquiring Selected HelaFactories, Safeguarding Jobs and Sri Lanka’s Export Base
Emerald Clothing (Pvt) Ltd has stepped in to secure the continuity of key operations previously run by Hela Clothing (Private) Limited, in a move aimed at stabilizing exports and safeguarding employment. The intervention comes as Hela faces liquidity constraints. Emerald Clothing said it has implemented an operational transition to ensure that manufacturing output and selected […]