Business
One Duty Free now open at Port City Duty Free Mall
One World Duty Free (ODF) is a leading and an omnichannel duty free global travel retail brand that is headquartered in Singapore, proudly announced its latest duty- free store opening at the Port City Duty Free Mall in Colombo on 1 January 2025. This marks a milestone in the ODF’s strategic entry to the South Asian market which is expected to offer its premium shopping experience for international travelers as well local consumers.
ODF eagerly anticipates the completion of the second phase of its Port City Duty-Free store by March 2025. This expansion will fully realize the store’s 12,800 sq. ft. retail footprint, offering an elevated shopping experience.
Keira Zhang, Chief Executive Officer (CEO) of One World Duty Free, stated, “The opening of our flagship store in Sri Lanka’s Port City is a pivotal moment for ODF as we expand into the South Asian market. Our carefully curated selection of world-class brands and categories underscores our dedication to providing travelers with an unmatched retail experience. This initiative also supports Colombo’s transformation into a leading retail and tourism hub.”
ODF envisions for the growth of the emerging markets, the launch of the Port City Duty-Free Mall reflects ODF’s commitment to redefining travel retail through innovation and exceptional customer experiences. This duty free store at the Port City, is expected to attract over 2 million visitors annually demonstrating its position as premier shopping destination.
The Sri Lankan passport holders including dual citizens of Sri Lanka and foreign passport holders with resident visa in Sri Lanka who have returned to Sri Lanka with a valid proof of arrival are eligible for an annual duty-free allowance of $2000. The commencement of the allowance is permitted for 4 days from the first day of the arrival. For tourists with valid foreign passports, they will not be subject to an annual allowance limit and such are eligible to purchase from the duty free store from the date of arrival. Their Purchases can conveniently be collected from the airport pickup counter at Bandaranaike International Airport (BIA). For further information, please contact the ODF hotline at +94 77 504 0064.
Business
HNB Finance bags 2 CMA Reporting Awards 2025
HNB Finance PLC has been honoured with two prestigious accolades at the CMA Excellence in Integrated Reporting Awards 2025, reaffirming the company’s commitment to transparency, good governance, and integrated business performance.
At this year’s ceremony, HNB Finance PLC was awarded Second Runner Up – joint in the category of “Best Integrated Report , Finance and Leasing Sector”, and also received a Merit Award in recognition of its continued efforts to enhance reporting quality and strengthen stakeholder communication.
The CMA Excellence in Integrated Reporting Awards, organised annually by the Institute of Certified Management Accountants (CMA) of Sri Lanka, acknowledge organisations that demonstrate superior financial reporting standards aligned with global best practices. Winners are assessed on key criteria such as financial performance and strategic management, corporate governance and compliance, innovation and digital transformation, sustainability practices, and professional excellence.
Chaminda Prabhath, Managing Director/CEO of HNB Finance PLC, commented on the recognition, “These awards reaffirm our commitment to upholding the highest standards of integrated reporting and transparent financial disclosure. At HNB Finance, we remain focused on delivering sustainable long-term value through robust governance frameworks, prudent financial management, and continuous innovation. The acknowledgement by CMA Sri Lanka reflects the disciplined efforts of our teams across the organization and motivates us to further enhance our reporting quality, strengthen ESG integration, and reinforce our stakeholder centric approach.”
Business
ComBank joins ‘Liya Shakthi’ scheme to further empower women-led enterprises
The Commercial Bank of Ceylon has reaffirmed its long-standing commitment to advancing women’s empowerment and financial inclusion, by partnering with the National Credit Guarantee Institution Limited (NCGIL) as a Participating Shareholder Institution (PSI) in the newly introduced ‘Liya Shakthi’ credit guarantee scheme, designed to support women-led enterprises across Sri Lanka.
The operational launch of the scheme was marked by the handover of the first loan registration at Commercial Bank’s Head Office recently, symbolising a key step in broadening access to finance for women entrepreneurs.
Representing Commercial Bank at the event were Mithila Shyamini, Assistant General Manager – Personal Banking, Malika De Silva, Senior Manager – Development Credit Department, and Chathura Dilshan, Executive Officer of the Department. The National Credit Guarantee Institution was represented by Jude Fernando, Chief Executive Officer, and Eranjana Chandradasa, Manager-Guarantee Administration.
‘Liya Shakthi’ is a credit guarantee product introduced by the NCGIL to facilitate greater access to financing for women-led Micro, Small, and Medium Enterprises (MSMEs) that possess viable business models and sound repayment capacity but lack adequate collateral to secure traditional bank loans. Through NCGIL’s credit guarantee mechanism, Commercial Bank will be able to extend credit to a wider segment of women entrepreneurs, furthering its mission to drive inclusive economic growth.
Business
Prima Group Sri Lanka supports national flood relief efforts with over Rs. 300 Mn in dry rations
Prima Group Sri Lanka has pledged assistance valued at over Rs. 300 million, providing essential Prima food products to support communities affected by the recent floods across the island. This relief initiative is being coordinated through the Ministry of Defence to ensure the timely and effective distribution of aid to impacted families.
As part of this commitment, Prima Group Sri Lanka donated a significant stock of Prima dry rations to the Government of Sri Lanka on 30 November. The consignment will be distributed across multiple severely impacted districts. These supplies will support families facing disruptions to daily life, ensuring they receive assistance as recovery efforts continue.
The handover took place at the Ministry, where the donation was received by the Secretary of Defence, Air Vice Marshal (Retired) Sampath Thuyacontha. Representing Prima Group Sri Lanka, Sajith Gunaratne – General Manager of Ceylon Agro Industries Limited, and Sanjeeva Perera – General Manager of Ceylon Grain Elevators PLC, officially presented the donation.
Prima Group has been standing with the people of Sri Lanka for over 40 years, and this donation reflects its broader commitment to the nation during challenging times. As relief operations continue across the island, the company remains focused on helping families rebuild their lives and supporting the ongoing recovery process in collaboration with the Government Authorities.
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