Category: Industry
ComBank ends Q1 as first private sector banking group on cusp of Rs 3 Tn. assets milestone
Loan book grows by Rs 116.75 Bn. in 3 months to Rs 1.642 Tn. Net interest income up 23.53% to Rs 34.21 Bn. Improves provision cover and interest margin alongside balance sheet growth Reports 3-month PBT of Rs 22.56 Bn. and PAT of Rs 14.97 Bn., with taxes amounting to Rs. 11.61 Bn. The […]
Hameedia launches ‘We Create’ – Sri Lanka’s first-ever online tailoring platform
Hameedia, Sri Lanka’s leading menswear brand, recently launched ‘We Create’, the country’s first-ever digital tailoring platform, via www.envoylondontailorstore.com. This innovation reflects Hameedia’s 75-year legacy of craftsmanship combined with modern technology, allowing customers to design personalized garments online. More than just clothing, Hameedia views fashion as the art of crafting identity. The brand has built a […]
US-China Tariff De-escalation Does Not Signal Trade Normalisation: Fitch Ratings
The Joint Statement on US-China Economic and Trade Meeting in Geneva published on 12 May appears to be a significant de-escalation of the trade war between the two countries, Fitch Ratings says. But in the absence of a lasting deal, uncertainty over where tariff rates will settle and the impact of those already implemented will […]
Navigating Sri Lanka’s digital future: A conversation with Dr. Hans Wijayasuriya
By Ashanthi Ratnasingham Sri Lanka is entering a defining chapter in its digital journey—one that could reshape how citizens live, work, and connect. As global economies accelerate toward smarter governance, inclusive connectivity, and resilient digital infrastructure, Sri Lanka is laying the groundwork to leapfrog into a digitally empowered future. Leading this transformation is Dr. Hans […]
Sri Lanka CERT Issues Cybersecurity Alert Amid Regional Concerns
In light of recent cybersecurity reports emerging from the South Asian region, Sri Lanka Computer Emergency Readiness Team (CERT) has issued an urgent advisory urging all public and private sector organizations within the nation to elevate their cybersecurity vigilance and implement necessary precautionary measures. While Sri Lanka CERT explicitly stated that there is no direct […]
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Fitch Ratings has assigned Seylan Bank PLC’s (A+(lka)/Stable) proposed Sri Lankan rupee-denominated, Basel III-compliant subordinated debentures of up to LKR15 billion an expected National Long-Term Rating of ‘A-(EXP)(lka)’. The proposed debentures, which will have maturities of five, seven and 10 years, will be listed on the Colombo Stock Exchange. The bank plans to use the […]
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Fitch Ratings has assigned Bank of Ceylon’s (BOC, CCC+/CCC+/AA-(lka)/Stable) proposed Sri Lankan rupee-denominated Basel III-compliant subordinated debentures 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 2 April 2025, as it follows the receipt of documents conforming to information already […]
Sri Lanka Ports Authority Welcomes MSC MARIELLA – The Largest Container Vessel Ever to Call at Sri Lanka
Marking a historic milestone for Sri Lanka’s maritime industry, the ultra-large container vessel (ULCV) MSC MARIELLA, one of the largest container vessels in the world and the largest in the MSC fleet, made its maiden call at the Colombo East Container Terminal (CECT) of the Sri Lanka Ports Authority (SLPA) at the Port of Colombo […]
IGT 1 officially on-boards at Business Centre at Port City Colombo
IGT 1 Outsourcing Lanka (Private) Ltd, hereafter referred to as ‘IGT 1 Lanka’, the subsidiary of IGT Holding I Sweden AB, and sister company of IFS Sri Lanka, recently signed an agreement to officially on-board as office tenant at the Business Centre at Port City Colombo. The leasing agreement was signed by Sal Laher, IGT […]
First Seven Seals RORO Vessel Carrying Used Vehicles Arrives at HIP Post Removal of Import Restrictions
Hambantota International Port (HIP) received a consignment of 1,560 used vehicles last week, marking the first shipment on a Seven Seals vessel to the port since the lifting of the import ban. Among the arrivals were four High and Heavy units, with the rest comprising popular models such as the Toyota Land Cruiser, Prado, BMW, […]
EU GSP+ Monitoring Mission to visit Sri Lanka next week
A team of senior European Union (EU) officials will undertake a visit to Sri Lanka from 28 April – 07May 2025 to review Sri Lanka’s progress in implementing the 27 international conventions under the Generalized Scheme of Preferences Plus (GSP+) trade preferences program of the EU. The EU is Sri Lanka’s second largest export destination […]
‘ Capital Vulnerable Despite Profit Gains: Fitch Ratings
Fitch Ratings expects Sri Lanka’s state banks to continue to report weaker regulatory capital ratios than systemically important private banks, despite significantly higher profitability. This is due mainly to a large portion of state banks’ profits being allocated to a special reserve, which is not included in capital adequacy calculations. The Central Bank of Sri […]