Sri Lanka’s growth recovery exceeded expectations but remains fragile
The Asian Development Bank’s (ADB) flagship economic publication, the Asian Development Outlook (ADO) April 2025, forecasts Sri Lanka’s recovery to …
Banking and Finance
Sri Lanka launches the new National Anti-Corruption action plan
The Commission to Investigate Allegations of Bribery and Corruption (CIABOC) has officially launched the National Anti-Corruption Action Plan (NACAP) 2025-2029 …
Fitch Rates Commercial Bank’s Proposed Basel III Subordinated Green Bond ‘A(EXP)(lka)’
Fitch Ratings has assigned Commercial Bank of Ceylon PLC's (COMB; AA-(lka)/Stable) proposed Sri Lankan rupee-denominated Basel III-compliant subordinated green …
Sri Lanka’s Apparel industry responds to new U.S. tariffs; Engages Government on way forward
Sri Lanka’s apparel industry has expressed its concern over the Reciprocal Tariff policy announced by the U.S regime earlier today. The new tariffs proposed …
Fitch Assigns State Mortgage & Investment Bank a First-Time ‘BB(lka)’ Rating; Outlook Stable
Fitch Ratings has assigned Sri Lanka-based State Mortgage & Investment Bank (SMIB) a first-time National Long-Term Rating of 'BB(lka)'. The Outlook is …
Serendib Frontier Capital Raises Rs. 475 Mn in Tier II Subordinated Debt for MBSL
Serendib Frontier Capital has successfully structured and placed Rs. 475 million in Tier II qualifying subordinated debt for Merchant Bank of Sri Lanka & …
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 …
Public Advisory on the Misuse of the Term ‘Finance’
Sri Lanka's Central Bank has issued a warning regarding the unauthorized use of the terms ‘finance,’ ‘financing,’ and ‘financial’ in business names …
Pan Asia Bank Announces Performance with a PAT of over 4.1 bn for FY 2024
Net Interest Income - Rs. 12.13 billion, up by 18%Net Fee and Commission Income - Rs. 1.90 billion, up by 24%Operating Profit before Taxes on Financial …
Budget 2025: Capital Gains Tax Rate Increased to 15-pct for Individuals & Partnerships
The Capital Gain Tax (CGT) rate applicable for individuals and partnerships will be increased to 15%. The CGT rate applicable for all other entities will be …
HNB PLC completes full acquisition of Acuity Partners: Rebrands as HNB Investment Bank
Hatton National Bank PLC (HNB), Sri Lanka’s second largest Private Bank, announced the successful acquisition of full ownership of Acuity Partners (Pvt) Ltd …
ComBank Digital integrates with CSE’s Central Depository System for IPO settlements
The Commercial Bank of Ceylon has announced that ComBank Digital, the Bank’s digital banking platform, is now linked with the Central Depository System (CDS) …
Sri Lanka’s DFCC’s Acuity Stake Disposal Yields Limited Capital Boost
Sri Lankan DFCC Bank PLC’s (DFCC, A(lka)/Stable) divestment of its 50% stake in Acuity Partners (Pvt) Limited (APL) is unlikely to result in a material …
British High Commissioner welcomes appointment of new UK Trade Envoy for Sri Lanka
Lord John Hannett of Everton OBE has been appointed as the new United Kingdom’s Trade Envoy for Sri Lanka. Lord Hannett will support the UK’s trade and …
Rothschild Estate: Preserving Sri Lanka’s legacy through innovation and excellence
In the world of tea, James Taylor often takes center stage as the pioneer credited with establishing Sri Lanka's tea industry during British colonial rule at …
Fitch Upgrades 10 Sri Lankan NBFIs’ Ratings, Affirms 8 Following National Scale Recalibration
Fitch Ratings has upgraded the National Long-Term Ratings of 10 Sri Lankan non-bank financial institutions (NBFIs) and affirmed the ratings of eight. This …
Fitch Upgrades 10 Sri Lankan Banks’ National Ratings and Affirms Five after Scale Recalibration
Fitch Ratings has upgraded the National Long-Term Ratings of 10 Sri Lankan banks following the recent sovereign upgrade and recalibration of the agency's Sri …
Fitch Upgrades Bank of Ceylon’s IDRs and VR to ‘CCC+’ and ‘ccc+’
Fitch Ratings has upgraded Bank of Ceylon's (BOC) Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) to 'CCC+' from 'CCC-'. The ratings do not …
JAAF partners with GTEX to drive textile innovation and competitiveness in Sri Lanka
Sri Lanka took another significant step toward textile circularity with a four-day program under the GTEX Phase II initiative, organized by the International …
Opinion: Embracing change, charting a brighter future for Sri Lanka’s plantation industry
By Sunil Poholiyadde, Chairman of the Planters’ Association of Ceylon For 170 years, Sri Lanka’s plantation industry has stood the test of time. Despite …