In this issue

President Ranil Wickremesinghe highlighted Sri Lanka’s commitment to agricultural modernization and emphasized the nation’s goal of reducing multidimensional poverty.

A meeting between Chinese President Xi Jinping and Sri Lankan Prime Minister Dinesh Gunawardena was held in Beijing.

The Prime Minister of Sri Lanka, Dinesh Gunawardena, addressed the BOAO Forum for Asia Annual Conference held in Hainan, China.

Suresh Edirisinghe, Chairman and Managing Director of Global Conversions, is making Sri Lanka proud. The UAE-based Sri Lankan company he founded in 2022 is in the business of converting vehicles for the right-hand drive market. He and his team of Sri Lankan mechanics are celebrating the milestone of converting a Hummer EV SUV into a right-hand drive. It was the world’s first.

Larry Summers and Eric Schmidt discussed technology and the Global Economy at FII PRIORITY Miami.

Nishelli Perera co-founded a home-grown nutraceutical company driven by science-based
innovation. In 2016, she and her business partner, Dr Dilshan Balasuriya, launched YETI, a range of isotonic beverages in Sri Lanka. She fuses many experiences, her childhood growing amid extended family members heavily into entrepreneurship, higher education in the United States, and navigating two different work cultures on two continents.

The Governor of the Eastern Province, Senthil Thondaman, emphasized the importance of successfully executing the development projects outlined for the Eastern Province to overcome the country’s debt crisis.

A book launch titled Press Vs. Prez was dedicated to President Ranil Wickremesinghe.

The Japanese Ambassador to Sri Lanka, Mizukoshi Hideaki, expressed Japan’s support for the current program to rebuild the Sri Lankan economy.

HNB and Hayleys Agriculture Empower Farmers with Convenient Access to Agri Machinery

HNB has entered into a collaborative partnership with Hayleys Agriculture, offering a comprehensive array of benefits and attractive leasing packages for various agricultural machinery.

1 min

Ten Pro Athletes That Love Weed As Much As You

These are some of the most famous stoner athletes of all time.

6 mins

PLC Achieves Remarkable 30.8 percent PAT Growth Amid Dynamic Market Conditions in Q3 2023/24

People's Leasing & Finance (PLC), reported robust financial performance for the third quarter of fiscal year 2023/24, indicating positive growth and stability amidst a competitive marketing environment.

1 min

JPMorgan Fined Nearly $40 billion for two-decade Legal Oversights

Banking giant JPMorgan Chase (NYSE: JPM) has suffered financial B and possible reputational setbacks due to a series of legal oversights stemming from the firm's failure to adhere to regulatory requirements.

3 mins

Paytm's Unravelling: Will it Break This Time or Make it Again?

Regarded as the poster boy of India’s fintech rush and start-up ecosystem, Vijay Shekar Sharma built Paytm into India’s largest digital payment platform and financial services provider. However, today, his empire is under scrutiny for repeated regulatory breaches and non-compliance as the Indian central bank has swooped down on its activities and imposed restrictions to ensure that the fintech ecosystem thrives in the world’s fifthlargest economy rather than take a blow on questions of trust and integrity.

6 mins

People's Bank Empowers Women Entrepreneurs

Celebrating International Women's Day, People's Bank, announced its commitment to women's empowerment through impactful initiatives.

1 min

People's Bank Walasgala Branch moves to an Enhanced New Location

People's Bank Walasgala Branch was declared opened at a new and enhanced location.

1 min

People's Leasing & Finance Wins Best Commercial at Sumathi Awards for 'Api Eka Karale Wee' Campaign

People's Leasing & Finance (PLC) received the Sumathi Award for Best Commercial of the Year at the 29th Sumathi Awards 2024.

1 min

DFCC Bank Resilient Amidst Economic Headwinds

DFCC Bank reported a Profit Before Tax of 10,960 million rupees and a Profit After Tax of 7,220 million rupees for the year ended December 31, 2023.

3 mins

The Dynamo of Dinemore

Very few may know the story of Dinemore, one of the most popular semi-fast food restaurants in Sri Lanka, entirely home-grown with a global footprint. Very few may know that one man’s ambition to start his restaurant spurred the eating-out culture in Sri Lanka and saw the‘submarine’ finally land on our plates. When M S M Rishard started Dinemore in 1997, he had a mission to serve the entire country, every Sri Lankan, provide the space for shared company and conversations, meet friends, and enjoy cheerful night outs. His long and untiring journey of 27 years ago is inspiring. The hands-on leader and multitasker who led from the front, cooked, served, and opened the door to patrons knew the ropes of his business inside and out. Speaking with Business Today, he described his journey to success, his constant desire to learn and grow, investing in quality and giving value for money, his desire for every Sri Lankan to savor the pleasure of dining out, and how his business has become a valuable entity contributing to the country’s reserves and generating employment by prioritizing its investment decisions for maximum gains and sustainability.

10+ mins

Ten Countries with The Best Weed in The World 2024

As we venture into 2024, several countries have emerged as Leading contributors to the world of premium cannabis.

5 mins

President Ranil Wickremesinghe and Prime Minister of Thailand Srettha Thavisin Forge Historic Ties, Sign Landmark Trade Agreement

Iam incredibly pleased to welcome Prime Minister Thavisin and the accompanying high-level delegation to Sri Lanka, including the Deputy Prime Minister, Minister of Commerce, and the Deputy Minister of Foreign Affairs.

5 mins

People's Bank celebrates 76 years of Independence by offering gifts to Newborns

People’s Bank celebrated Sri Lanka’s 76th National Independence at a modest ceremony followed by a series of island wide initiatives.

1 min

People's Bank and Hayleys Agriculture Form Strategic Alliance for Agricultural Advancement

People's Bank and Hayleys Agriculture Holdings have entered into a strategic Memorandum of Understanding (MoU) aimed at fortifying Sri Lanka's agricultural landscape.

1 min

HNB enters MoU with SLAF and Agro World

HNB announced its strategic partnership with the Sri Lanka Agripreneurs' Forum (SLAF) and Agro World, which aimed to empower small and medium scale farmers participating in the Smart Village Program.

1 min

How much Money does Bernard Arnault make a Second?

The chairman and CEO of LVMH Moët Hennessy Louis Vuitton SE, Bernard Arnault is currently the wealthiest individual globally, with a staggering net worth of USD 228.3 billion.

3 mins

Sri Lanka's Best Corporate Citizen continues to Record Sustainable Performance

Hatton National Bank (HNB) showcased strong and sustainable performance in 2023 in all aspects, namely liquidity, asset quality, capital, efficiency and profitability amidst global and local economic uncertainties.

2 mins

DBS Debacle and Accountability

Tying remuneration policies to drive the correct behavior and corporate accountability is the lesson from a recent pay cut imposed on the CEO of a leading Singapore bank.

5 mins

Shashi Kandambi as new General Manager and CEO for NSB

Shashi Kandambi, a prominent banking professional, has assumed office as the 19th General Manager and CEO of National Savings Bank (NSB) on January 10, 2024.

1 min

HNB and 3W Global Education join hands to empower students

HNB has entered into a partnership with 3W Global Education to facilitate access to affordable financial solutions for students.

1 min

DFCC Bank introduces Tailored Financial Flexibility for Freelancers

DFCC Bank has introduced DFCC Freelancer, a revolutionary financial solution exclusively tailored to meet the dynamic needs of freelancers.

1 min

Chef Dharshan Munidasa Awarded 'The Order of The Rising Sun, Gold and Silver Rays'

Chef Dharshan Munidasa, Founder of Nihonbashi and Ministry of Crab, receiving the award from Mizukoshi Hideaki, Ambassador of Japan to Sri Lanka.

1 min

Global Debt

Imagine every living person in the world, adults, children, and even infants, every ablebodied individual to the not-so-able, having to work for three and a half years to pay off a colossal global debt of $300 trillion. The debt narrative has come to grip an increasingly unstable world, even as many countries have hit the pit with unwholesome debt in recent years. Everyone’s taking stock of the dangers and consequences of unbridled borrowing as the fear of households, businesses, and countries drowning in debt looms.

5 mins

President Ranil Wickremesinghe Emphasizes Immediate Reforms in Global Financial Structure

President Ranil Wickremesinghe at the Third South Summit in Kampala, Uganda. Also present were Deputy Prime Minister of Somalia Salah Jama; South Africa's Minister of Foreign Affairs Naledi Pandor and Acting Foreign Minister of the Republic of Sudan Ambassador Ali Al-Sadiq.

2 mins

Labor Market Trends

Mere numbers may not be the easiest way to gauge the health of Sri Lanka's labor market. However, recent data released by the Central Bank of Sri Lanka show changes in labor force participation, falling below 50 percent of the total employable population.

4 mins

President Ranil Wickremesinghe briefs Indian CEOs on Sri Lanka's Economic Outlook

President Ranil Wickremesinghe took centre stage in a roundtable discussion organized by the Consortium of Indian Industry (CII) and World Economic Forum, unveiling a comprehensive economic vision for Sri Lanka.

1 min

President Ranil Wickremesinghe shares Sri Lanka's Positive Economic Outlook and Reforms at Business Roundtable in Switzerland

Addressing the Business Roundtable organized by BOI Sri Lanka and the Swiss-Asian Chamber of Commerce, during his official tour to Switzerland to attend the 54th Annual Meeting of the World Economic Forum, President Ranil Wickremesinghe highlighted significant strides in Sri Lanka’s economic recovery and outlined future growth prospects.

2 mins

Global Disparities between Developing and Developed Nations have grown due to Technology Gaps and concerns of Weapons of Mass Destruction

President Ranil Wickremesinghe with several heads of state.

3 mins

The Opportune Moment for Investing in Sri Lanka's Renewable Energy Sector

President Ranil Wickremesinghe highlighted the present as an opportune moment for investing in Sri Lanka’s renewable energy sector, expressing confidence in its potential to yield substantial benefits for both stakeholders and consumers in the coming decades. I thank the Swiss Asian Chamber of Commerce and their partners in organising this event for the invitation to speak today.

5 mins

Plentiful Phones - Trends in the use of Cellular Phones

Sri Lanka is evidence of the power of a small handheld device to fulfill many human needs. Mobile phones and the internet are giving people new opportunities they never had before. No wonder Sri Lanka has more mobile phones than the country’s population, showing the widespread ownership of mobile phones nationwide. If we leave aside the young population who don’t own a mobile phone, the adults, it seems, are harnessing the benefits of multiple devices for daily navigation.

4 mins

Read all stories from Business Today Sri Lanka

Business Today Sri Lanka Magazine Description:

The magazine of the corporate world, Business Today features an interesting line-up of interviews with eminent personalities who impact the corporate, commercial and economic sectors. The monthly magazine also includes exclusive articles syndicated from the Harvard Business Review and Financial Times. It has also featured the monthly columns by Richard Branson and Howard Schultz. International interviews featured include Sir Richard Branson, Paul Allen, Howard Schultz, Omar Bin Laden and Sir Jonathan Ive. Articles penned by President Barack Obama and Vice President Joe Biden Jr. have also been featured in the magazine.