Category: Business and Economy

Sampath Bank PLC’s debenture issue attracted applications exceeding Rs. 10 billion, surpassing the maximum amount available under the offer. In a stock exchange disclosure, the bank said the issue would close at 4.30 p.m. on October 20 in accordance with its prospectus. The basis of allotment will be announced to the Colombo Stock Exchange in…

Sri Lanka’s banks increased lending to overseas borrowers by more than 50 percent in the year to June 2026, with offshore loans accounting for over a third of their outstanding foreign currency credit, even as emerging risks linked to the Middle East conflict placed growing pressure on loan portfolios, according to Central Bank of Sri…

Sri Lanka’s Cabinet of Ministers have approved the publication of a new bill to establish a National Agency for Public-Private Partnerships (PPPs) and provide the legal framework to promote and facilitate PPP projects in the country. Approval to introduce the legislation was initially granted at the Cabinet meeting held on 2 June 2025. Accordingly, the…

The Sri Lanka–Thailand Business Council (SLTBC) has sought a clear roadmap for implementing the Sri Lanka–Thailand Free Trade Agreement (FTA) and details on proposed employment opportunities for 10,000 Sri Lankan workers in Thailand. The Council’s delegation, led by President Rizan Nazeer and comprising several executive committee members, met Thai Ambassador to Sri Lanka Paitoon Mahapannaporn…

CHEC Port City Colombo (Pvt) Ltd. and the Department of Town and Country Planning of the University of Moratuwa have signed a Memorandum of Understanding (MoU) to strengthen collaboration between academia and industry in urban development, urban informatics, research, innovation and talent development. Signed on 29 September 2026 at the University of Moratuwa, the agreement…

Sri Lanka and China have discussed ways to deepen bilateral relations and expand economic cooperation to support the island’s economic development. The discussions took place on Thursday (14) at the Finance Ministry during a meeting between Chinese Ambassador to Sri Lanka Wei Huaxiang and Labour Minister and Finance and Planning Deputy Minister Dr. Anil Jayantha…

Sri Lanka must earn free trade agreements (FTAs) through deep domestic reforms rather than expect them to follow from negotiation alone, Industry and Entrepreneurship Development Deputy Minister Chathuranga Abeysinghe said.  The Government is now moving to dismantle import levies left untouched for two decades and is seeking entry into Asia’s largest trade bloc. “We only…

In a major move to boost industrial and economic cooperation between Sri Lanka and the European Union (EU), a special high-level discussion was held on October 15, chaired by Deputy Minister of Industry and Entrepreneurship Development, Chathuranga Abeysinghe. The meeting focused on leveraging the EU’s multi-billion-euro ‘Global Gateway’ strategy to drive fresh investments into Sri…

Sri Lanka is moving ahead with a World Bank-backed global destination marketing and communication campaign aimed at strengthening the country’s competitiveness in international tourism markets. A high-level discussion on implementing the initiative was held at the Ministry of Foreign Affairs, Foreign Employment and Tourism, focusing on developing a long-term, data-driven strategy to promote Sri Lanka…

The Quarticentennial Funnel of Merit: 1.9 million names, 38 icons, one new metric LONDON// Picture a funnel wide enough to swallow a small nation: 1.9 million names, drawn from 195 countries, representing every conceivable form of human distinction — scientists, monarchs, child activists, blood donors, mountaineers, ethicists. At the narrow end of that funnel, after…