Business
ComBank named ‘Best Bank in Sri Lanka’ for 10th time by FinanceAsia
The Commercial Bank of Ceylon has once again been declared the ‘Best Bank in Sri Lanka’ at the 2021 FinanceAsia Country Awards, taking its place among global and regional giants adjudged the best domestic banks in their respective countries.
This is the 10th occasion that Commercial Bank has been bestowed this prestigious accolade by FinanceAsia, which is acknowledged as the presenter of one of the best-known and most credible sets of awards in Asia’s financial services industry.
Ranked alongside Commercial Bank this year are banks of the calibre of ICBC (China), DBS (Singapore), Shinhan Bank (South Korea), Bank of China (Hong Kong), CTBC (Taiwan), HDFC Bank (India), MCB Bank (Pakistan), The City Bank (Bangladesh), Public Bank (Malaysia), Bank Central Asia (Indonesia), KBank (Thailand), Techcombank (Vietnam) and BDO Unibank (Philippines).
“We are delighted to win this important award for the 10th time, especially because it is based on an in-depth evaluation of our performance in one of the most difficult years in memory,” Commercial Bank’s Managing Director S. Renganathan said. “We are also enthused by the fact that the assessment for this year’s award was expanded to cover sustainability indicators as well as our response to the global pandemic.”
The FinanceAsia Country Awards are based on the respective banks’ performance, encompassing key events of the year, financial results including profits, NPL ratios, provisioning, return on equity, capital adequacy ratios, total assets, loans, deposits, branch network, vision and long-term strategy, market position versus the nearest competitor, principal sources of profit, and feedback of stock market analysts.
Over the past year however, FinanceAsia says two other new trends started to make themselves felt in these awards: environmental, social and governance (ESG) factors became an essential topic of conversation, and COVID-19 accelerated the entry of retail investors into many of the region’s equity markets, facilitated by advancing digitalisation.
Business
Anticipated uptick in banking and financial sector shares
Both CSE indices showed high performance yesterday because most stock investors anticipate an upwards trend in the banking and financial sector in the coming months, market analysts said.Amid those developments both indices moved upwards with a high turnover level. The All Share Price Index went up by 37.33 points, while the S and P SL20 rose by 24.17 points.
Turnover stood at Rs 8.5 billion with 17 crossings. Top seven crossings were as follows: Tokyo Cement 11.5 million shares crossed to the tune of Rs 1.19 billion; its shares traded at Rs 104, TJ Lanka 18 million shares crossed for Rs 671 million; its shares traded at Rs 37.50, Sampath Bank 2.35 million shares crossed for Rs 366 million; its shares sold at Rs 156, Tokyo Cement 1.95 million shares crossed for Rs 168 million; its shares sold at Rs 86.20, Colombo Dockyards 1 million shares crossed for Rs 156 million; its shares traded at Rs 156 and HNB 313,000 shares crossed for Rs 136.8 million; its shares sold at Rs 437 and Digital Mobility Solutions 500,000 shares crossed for Rs 79.5 million; its shares traded at Rs 159.
In the retail market, top seven companies that mainly contributed to the turnover were; Tokyo Cement Rs 866 million (8.3 million shares traded), Tokyo Cement (Non-Voting) Rs 746 million (8.6 million shares traded), Colombo Dockyard Rs 410 million (2.6 million shares traded), TJ Lanka Rs Rs 331 million (8.9 million shares traded), Softlogic Capital Rs 305 million (40 million shares traded), Janashakthi Insurance Rs 227 million (1.5 million shares traded) and HNB Rs 152 million (350,000 shares traded). During the day 57.32 million shares volumes changed hands in 36500 transactions.
It is said that construction related companies, especially Tokyo Cement, performed well while the banking and financial sector performed well too, especially Sampath Bank and HNB.
Yesterday the rupee was quoted at Rs 309.20/23 to the US dollar in the spot market, from Rs 309.30/37 the previous day, dealers said, while bond yields were broadly steady.
By Hiran H Senewiratne
Business
AIA Insurance Lanka champions women’s entrepreneurship at WCIC Prathibhabhisheka 2025
AIA Insurance Lanka is proud to serve as the Platinum Partner of the Women’s Chamber of Industry and Commerce (WCIC) Prathibhabhisheka Women Entrepreneur Awards 2025 for the fourth year. WCIC Prathibhabhisheka Women Entrepreneur Awards 2025 is an inspiring platform that celebrates the strength, resilience, and innovation of women-led businesses across Sri Lanka and the wider SAARC region. Over the years, this partnership has grown into a powerful platform that recognises and uplifts womenled enterprises that are shaping inclusive and sustainable economic progress. This enduring collaboration between AIA and WCIC reflects a shared commitment to empowering women entrepreneurs and celebrating their resilience and impact across Sri Lanka.
Business
Mild Earth to take Sri Lankan spices to global stage with ‘Wild Mist Water’
Sri Lanka may give the world another refreshing hot beverage, this one brewed from some of the country’s most iconic spices, that could, in time, match the country’s best-known export, tea, thanks to the vision of an enterprising young marketing professional.
‘Wild Mist Water’ unveiled at an appropriately styled ‘quiet reveal’ in Colombo 7 this week, is, in its creator Sohan Jayasena’s words, “a luxury wellness experience inspired by Sri Lanka’s botanical heritage.”
Available initially in four variants, the Wild Mist Water mixes come in canisters, and their contents must be brewed just as tea is, with each canister containing a thoughtfully curated mix of local spices that have been associated for generations with physical and mental wellbeing.
The spices that go into the mix are drawn entirely from Sri Lanka’s botanical repertoire, with each blend combining coriander seeds with carefully balanced accents of nigella, cloves, cinnamon, rosemary and lemongrass. The result is a subtle, refined infusion designed not to overwhelm the palate, but to offer a calming aroma, a smooth mouthfeel and a sense of grounding that unfolds slowly with each sip, giving its patrons a time to pause a moment of calm that is much needed in a world that never pauses or stops.
At the heart of the brand is its founder’s belief that Sri Lanka’s wellness heritage does not need exaggeration or nostalgia to be relevant to modern life, only thoughtful reinterpretation.
“Wild Mist Water is not about chasing trends or making claims,” says Sohan Jayasena, a marketer and brand strategist by profession. “It is about taking something deeply familiar to Sri Lankan life – the practice of brewing and drinking warm botanicals – and presenting it with discipline, clarity and respect. I wanted to create a product that encourages people to slow down, even briefly, and treat their wellbeing as something worthy of time and intention.”
“Wild Mist Water is also positioned as the ‘new language of gifting,’ focused on those who want to move from the predictable to being intentional about their gift and how they are perceived,” he added.
Wild Mist Water is developed, distributed, and marketed by Mild Earth, the holding company which has ambitions to lead the Sri Lankan wellness industry on to the global stage.
Positioned firmly in the luxury wellness category, Wild Mist Water is meant to be part of a conscious routine. It must be brewed, poured and consumed with intention. It is not presented as a medicinal remedy, a sugary refreshment or a mass-market functional drink, but as a considered wellness experience rooted in restraint and credibility.
For now, Wild Mist Water is designed to be enjoyed warm, echoing the comforting, time-honoured Sri Lankan practice of drinking warm, brewed herbal infusions.
Wild Mist Water’s premium positioning is expected to appeal to those who appreciate minimalism, discipline, intentional living and those who view wellbeing as a non-negotiable lifestyle choice. Production takes place at a globally certified, export-grade food manufacturing facility in Sri Lanka, with a strong emphasis on quality-first sourcing and disciplined processes.
The product will primarily be retailed via its premium e-com site Mildearth.com, with free climate-conscious shipping for patrons in Colombo; and at selected upmarket boutique hotels, resorts, and cafes, wellness boutiques and concept stores.
While the initial focus is on establishing the brand locally through selective distribution, discussions are already under way for export to Australia, Malaysia and Singapore, markets that align with Wild Mist Water’s emphasis on intentional living, sensory refinement and quiet luxury.
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