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TRI-ZEN by John Keells Properties Celebrates Completion as Largest Residential Development in Heart of Colombo
John Keells Properties and Indra Traders hosted an event on the 28th of February 2025 to mark the successful completion of TRI-ZEN, the largest residential development in the heart of Colombo. Situated in Union Place, Colombo 2, TRI-ZEN is an 897-unit apartment complex designed to redefine urban living by seamlessly blending technology, accessibility, and contemporary […]
ComBank posts stellar results in 2024 after absorbing a SLISB restructure loss of Rs 45 bn
Net reversal of Rs 62 Bn. in impairment provisions compensates for loss from sovereign bonds restructuring Further accelerates lending with loan book growth of Rs 230 Bn., with approximately half of growth coming in Q4 Net interest income up 36.71% to Rs 118 Bn. Total taxes triple to Rs 62 Bn. PBT of […]
IMF Executive Board Completes the Third Review Under the Extended Fund Facility
The IMF Executive Board completed the Third Review under the 48-month Extended Fund Facility with Sri Lanka, providing the country with immediate access to SDR 254 million (about US $334 million) to support its economic policies and reforms. Performance under the program has been strong. All quantitative targets for end-December 2024 were met, except the […]
CA Sri Lanka’s 2025 Curriculum Redefines the Chartered Accountant’s Role for Tomorrow’s Challenges
The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) launched its transformative 2025 curriculum on 27th February 2025, marking a significant shift in the role of Chartered Accountants. The event was attended by Chief Guest Mr. Pradeep Saputhanthri, Secretary to the Hon. Prime Minister, along with industry & business leaders, senior government officials, […]
89% of IT leaders worry GenAI flaws could negatively impact their organization’s cybersecurity strategies
Sophos, a global leader of innovative security solutions for defeating cyberattacks today released a new report, “Beyond the Hype: The Businesses Reality of AI for Cybersecurity,” which surveyed 400 IT leaders on their use of AI in security. The survey found that, despite 65% having adopted generative artificial intelligence (GenAI capabilities), 89% of IT leaders […]
The Japan Sri Lanka Technical and Cultural Association announces JASTECA awards 2025
The Japan Sri Lanka Technical and Cultural Association (JASTECA) announced the launch of the prestigious JASTECA Awards 2025, reaffirming its commitment to recognizing Sri Lanka’s top-performing organizations in 5S, Kaizen, and Corporate Social Responsibility (CSR) practices. Since its inception, JASTECA has been a pioneer in advancing workplace excellence, operational efficiency, and sustainability. This year’s event […]
Alliance Finance Company Launches Green Bond on the Colombo Stock Exchange
Alliance Finance Company PLC (AFC), Sri Lanka’s oldest operating non-banking financial institution, marked a significant milestone with the issuance of its Green Bond on the Colombo Stock Exchange (CSE). The bell ringing ceremony, held on 27th February 2025 at the CSE Trading Floor, symbolized the company’s commitment to sustainable finance and responsible investment. The Listed, […]
Japan to Invest in Sri Lanka’s Digital Transformation and Port Development
President Anura Kumara Disanayake met with Ambassador of Japan to Sri Lanka, H. E. Mr. Akio ISOMATA, this morning (27) at the President’s Office. During the meeting, the Ambassador officially invited President Disanayake to visit Japan and expressed appreciation for the new government’s policy framework. The Japanese Ambassador stated that efforts have been made to […]
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Sri Lanka’s Central Bank has issued a warning regarding the unauthorized use of the terms ‘finance,’ ‘financing,’ and ‘financial’ in business names and descriptions. According to Section 10(2) of the Finance Business Act, No. 42 of 2011, only licensed finance companies and certain specified institutions are permitted to use these terms, either alone or in […]
Opinion: Will NPP’s maiden budget discourage private investment and FDI?
By Indika Hettiarachchi Sri Lanka is a capital staved nation urgently in need to boost private investment to catalyze economic development. In such background it is rather an unusual move for Sri Lanka to increase Capital Gain Tax (“CGT”) to 30% from 10%. This will place Sri Lanka among countries with highest CGT applicable for […]
Opinion: 2025 Budget; A Catalyst for Capital Market Development & Enhanced Corporate Governance
By Uddeepa Peiris Sri Lanka’s 2025 budget, introduced by President Anura Kumara Dissanayake, aims to revitalize the nation’s economy post-crisis. This article examines how the budget’s provisions are poised to stimulate capital market growth and strengthen corporate governance. Key initiatives include tax reforms, infrastructure investments, and the restructuring of state-owned enterprises (SOEs), all designed to […]
First Set of Vehicle Imports to Arrive at Hambantota International Port
The first set of vehicle imports for the local market after the ban was lifted will arrive on Thursday, the 27th at midnight, the Hambantota International Port said. The lifting of the import ban, which had been in place since early 2020, has been met with both anticipation and concern. The reintroduction of vehicle imports […]