Category: Business and Economy

Union Bank recorded a significant improvement in profitability and financial performance during the first nine months of 2026. The bank’s profit before tax rose by 48% year-on-year to 1.744 billion rupees for the nine months ended September 30th, 2026. Profit after tax also increased by 104% to 701 million rupees. Gross income grew by 20%…

Industry-linked financing initiative targets renewal of ageing tea fields, improve productivity and empower tea smallholders The Commercial Bank of Ceylon has introduced a dedicated loan scheme to revitalise Sri Lanka’s tea industry, demonstrating its strategic initiatives designed to penetrate the Small and Medium Enterprise (SME) sector and the rural micro-economy and catalyse sustainable growth across…

Sri Lanka should strengthen its capital market to mobilise long-term  investment and support sustained economic growth of 7% to 9%, Securities and Exchange Commission (SEC) Chairman Senior Professor Hareendra Dissabandara said. Addressing the Capital Market Industry Forum on October 27, he said the country must move beyond economic stabilisation and recovery towards building productive capacity,…

People’s Bank ringing the market opening bell at the Colombo Stock Exchange (CSE) marked a significant milestone in the Bank’s digital transformation journey, celebrating its pioneering partnership with Lanka Securities (Pvt) Ltd (LSL) to integrate share trading facilities into its flagship mobile wallet application, People’s Pay. This landmark initiative enables customers to access banking and…

The Export Development Board (EDB) has stepped up efforts to expand Sri Lanka’s export base by strengthening the export readiness of small and medium-sized enterprises (SMEs) in the North Western Province through a series of export-oriented business clinics. The programmes, organised by the EDB’s North Western Provincial Office in collaboration with District and Divisional Secretariat…

The Government will step up efforts to channel domestic savings into productive investment through Sri Lanka’s capital market as the country moves from macroeconomic stabilisation towards a broader economic transformation, Deputy Minister of Finance and Planning Dr. Anil Jayantha Fernando said. Addressing a Colombo forum held under the theme “From Resilience to Sustainable Growth –…

DFCC  Bank further strengthened its regional development-finance relationships recently hosting representatives of Bhutan Development Bank Limited and the Asian Development Bank’s Bhutan Resident Mission for a five-day knowledge-sharing programme. The programme focused on inclusive finance, SME and MSME development, women-focused banking and sustainable funding. It enabled the participating institutions to exchange experiences, examine approaches that…

The MAXXIS Annual Awards Night, themed “MAXXIS Champions of Champions 2025”, was held on 23rd of October 2026 at 7:00 PM at the Shangri-La Ballroom, Shangri-La Hotel, Colombo, under the distinguished patronage of Mr. Kenny, Section Manager, MAXXIS International Taiwan. The Guest of Honour was Mr.Jimmy, Sales Representative, MAXXIS International Taiwan. The awards ceremony commenced…

Sri Lanka’s Central Bank is building foreign currency reserves without exerting any pressure on the rupee, Governor Nandalal Weerasinghe said. Sri Lanka’s Reserves have been growing at a slow pace and it has to build around US$8 billion by end of this year, as committed to the International Monetary Fund. The latest number shows reserves…

The Central Bank of Sri Lanka (CBSL) marked its 76th anniversary with a high-level oration on how artificial intelligence is reshaping central banking, held at the Central Bank Atrium on 23 October 2026. The oration was delivered by Shirin Hamid, Chief Information Officer and Director of the Information Technology Department at the International Monetary Fund…