Category: Business and Economy

Sri Lanka has outlined an ambitious vision to transform itself from a consumer of artificial intelligence (AI) technologies into a trusted regional producer and partner in the global digital economy, said Deputy Minister of Digital Economy Eranga Weeraratne addressing the GSMA Roundtable at MWC Shanghai 2026. Speaking at the session themed “Powering the AI Economy:…

Sri Lanka’s garment and textile export earnings declined by 4.84 percent during the first five months of 2026 compared to the corresponding period last year, although the sector recorded a strong recovery in May, according to the Export Development Board (EDB). EDB data showed that export revenue from garments and textiles fell to US$ 2,033.39…

Federation Internationale de L’ Automobile (FIA) which is the World Largest Mobility and Sports Organisation in Geneva Switzerland, who has membership of 245 Clubs from 149 Countries held its Extra Ordinary General Assembly hosted by The General Association Macau China recently. Delegation of the Executive Committee members of the Automobile Association of Ceylon also represented…

Kotagala Kahata concluded its much-anticipated ‘Rasa Wasana 2025’ consumer promotion with a prize-giving ceremony held recently at the Grand Oriental Hotel, Colombo. The event celebrated five winners, each of whom received TVS Scooty Pep motorcycles. The conclusion of the promotion marks yet another milestone in Kotagala Kahata’s ongoing commitment to recognising and rewarding consumer loyalty,…

Tokyo Cement hosted ‘Build Beyond 2026 Summit’, a premier knowledge-sharing conference that brought together leading academics, civil and structural engineering experts and professionals of the Sri Lankan construction industry. The event featured keynote addresses by renowned construction technology specialists, Professor Shashank Bishnoi from the Indian Institute of Technology (IIT) Delhi-Abu Dhabi and Senior Professor Priyan…

Asia Asset Finance PLC has announced a Rs. 1.5 billion Rights Issue, marking a step towards strengthening its capital position and accelerating the company’s next phase of growth. In a disclosure to the Colombo Stock Exchange, the company stated that its Board of Directors, at a meeting held on 10th June 2026, resolved to recommend…

Vietjet has opened bookings with special launch fares for its new Colombo–Ho Chi Minh City route, scheduled to commence on August 18. The service will be the first scheduled direct air connection between Sri Lanka and Vietnam, further strengthening tourism, business and cultural ties between the two countries. To celebrate the new route, Vietjet is…

Sri Lanka’s apparel and textile exports recorded their strongest monthly performance of the year in May 2026, rising 7.96 percent year-on-year to US$394.14 million, driven largely by a sharp recovery in demand from the United States. According to industry data, exports to the US climbed 15.36 percent to US$149.96 million during the month, underscoring renewed…

Senok Trade Combine (Pvt) Ltd, recently handed over a fleet of Foton Tunland G7 Double Cab vehicles to NEM Construction, further strengthening its partnership with Sri Lanka’s growing construction and infrastructure sector. The vehicles were assembled locally at Western Automobile Assembly (WAA) facility in Kurunegala, demonstrating Senok’s commitment to supporting local manufacturing and delivering internationally…

Sri Lanka’s export sector maintained strong growth momentum during the first five months of 2026, with total export earnings exceeding US$7.3 billion, underlining the resilience of the country’s external sector and strengthening prospects for export-led economic growth. According to the Export Development Board (EDB), combined merchandise and services exports reached an estimated US$7.39 billion between…