Category: Industry
Sri Lanka’s largest battery energy storage programme to strengthen grid stability and accelerate renewable energy integration
Sri Lanka is set to commission battery energy storage capacity across 16 substation sites nationwide, marking the country’s largest energy storage programme to date. The initiative represents a significant step in strengthening the national grid and supporting the country’s transition toward a cleaner and more resilient energy system. Each Battery Energy Storage System (BESS) is […]
Flavours of a new Colombo: Inside the dining experiences of City of Dreams
Colombo has long been known for its diversity of flavour. From bustling street food corners to fine dining establishments overlooking the Indian Ocean, the city’s culinary identity has steadily evolved alongside its growing cosmopolitan character. Yet with the arrival of City of Dreams Sri Lanka, Colombo’s food scene has entered an entirely new era one […]
Commercial Bank extends its operations to Port City Colombo
Reinforcing its commitment to support the nation’s next phase of economic transformation, Commercial Bank of Ceylon PLC’s new branch in Port City Colombo will bring world-class banking services to Sri Lanka’s emerging international financial hub. Located at Building 04 in Area 02 of the Port City Business Centre – Commercial Hub, Commercial Bank’s Port City […]
Ceylon Chamber Expresses Concern Over New US Labour-Related Tariffs and Calls for Urgent Engagement
The Ceylon Chamber of Commerce is concerned by the announcement of new labour-related tariffs by the United States on several countries, including a proposed 12.5% tariff on exports from Sri Lanka. This development comes at a time when Sri Lanka was continuing discussions with the US following the suspension of the previously announced reciprocal tariffs […]
CSE & Sampath Bank Signs MoU to Strengthen Capital Market Access
The Colombo Stock Exchange (CSE) and Sampath Bank PLC signed a Memorandum of Understanding (MoU) late last month to jointly promote financial literacy, broaden awareness of capital market opportunities, and support businesses in accessing sustainable growth avenues. By leveraging Sampath Bank’s extensive relationship network together with the CSE’s expertise and product offerings, the collaboration seeks […]
EDB and NMRA Unite to Drive Sri Lanka’s Pharmaceutical Export Growth
A special discussion was recently held in Colombo to address barriers hindering Sri Lanka’s pharmaceutical export sector and to realize its full potential. The meeting brought together the Export Development Board (EDB), the National Medicines Regulatory Authority (NMRA), and the country’s leading pharmaceutical manufacturers for a focused exchange on the way forward. EDB Chairman and […]
EDB Moves to Expand Islandwide Testing and Certification Facilities to Boost Export Competitiveness
The Sri Lanka Export Development Board (EDB) has taken steps to implement a comprehensive plan to expand testing and certification facilities across the island, addressing one of the most significant bottlenecks faced by the country’s export sector. A high-level stakeholder discussion was recently held in Colombo with the participation of government institutions, testing laboratories, certification […]
Why Sri Lanka’s SME apparel sector needs a national sustainable industries policy framework
By Nishantha Bakmeege President Sri Lanka chamber garment exporters (SLCGE) A clear national sustainable industries framework is becoming essential if Sri Lanka’s SME apparel manufacturers are to cut carbon, adopt renewable energy and remain competitive in global export supply chains. Sri Lanka’s apparel industry is entering a new phase where export competitiveness will increasingly be […]
Ceylon Chamber Applauds IMF Review Approval, Urges Fuel QR Optimization & Clear Economic Policy Signals
The Ceylon Chamber of Commerce has commended the Government of Sri Lanka on the successful completion and approval of the 5th and 6th reviews under the IMF’s Extended Fund Facility, unlocking around USD 695 million in financing support. The Chamber emphasized that this milestone strengthens confidence in Sri Lanka’s economic recovery amid global uncertainty and […]
Sri Lanka’s Vehicle, Gold Loan Curbs Support Lenders’ Risk Profiles: Fitch Ratings
Sri Lanka’s tighter macroprudential restrictions on vehicle and gold-backed lending will benefit lenders’ risk profiles, particularly those of finance companies, Fitch Ratings says. The Central Bank of Sri Lanka’s lower loan-to-value (LTV) caps target two products that have expanded rapidly in recent years and represent a substantial share of mainly finance companies’ balance sheets. The […]
Commercial Bank now brings PayPal-linked withdrawals for customers
Enables channeling of global digital earnings directly into bank accounts via ComBank Digital The Commercial Bank of Ceylon, reaffirming its leadership in introducing the latest global financial technologies to Sri Lanka, has announced the availability of PayPal-linked withdrawal functionality for eligible customers to seamlessly channel their global digital earnings directly into their Commercial Bank accounts […]
Sri Lanka’s Banking sector assures it is stable, equipped to address fraud incidents
Sri Lanka’s banking sector has provided a collective and categorical assurance that it remains stable, resilient, and secure despite a few recent isolated incidents of financial fraud, emphasising that these developments do not pose a threat to the safety of customer deposits or the overall integrity of the financial system. While acknowledging that such incidents […]