Business
Reforms to stay course with bets on elections: First Capital Research

Expects downtrend in lending rates during 1H2024
Investment Strategy – Jan 2024 report released by First Capital Research says reforms will stay the course amid guesses and opinions on upcoming elections.”After announcing the rate cut in Nov-23, we expect the Central Bank of Sri Lanka (CBSL) to take a pause and maintain rates in the near future, paving way for market rates to adjust downward. However, CBSL plans on implementing a single policy rate window, we believe CBSL may implement it in the 1Q2024 via a rate cut to the SLF (standing lending facility ) reducing it to 9.0% to be in line with the SDF (standing deposit facility),” First Capital Research (FCR) says.
They further said:
“With the completion of external debt restructuring during 1H2024, we believe the overall yield curve is likely to drop below 13.5% and reach a range of 11.0%-13.5% in the short term and towards end of1H2024 to reach 10.0%-12.5%. AWPR may decline to 10.0%-12.0% by Jun-24 and rise again to 11.0%-13.0% by Dec-24.”
“We expect the downtrend in AWPR to continue and reach a low of 10.0% – 12.0% during 1H2024, but with the stronger demand for credit and the pick in the economy with the gradual rise in SME segment and inflation, we expect slight pressure on interest rates pushing AWPR to 11.0-13.0% during 2H2024.”
“Exchange Rate outlook upgraded to LKR 310.0-330.0 for 1H and LKR 320.0-340.0 for 2H2024”.
“FCR outlook for 1H2024 for the LKR has been upgraded with potential appreciation pressure as the newly implemented higher taxes are likely to significantly slowdown the rising consumer demand in the short term supported by the rise in cost of living resulting in LKR appreciating to a range of 310.0-330.0. LKR may register depreciation pressure amidst the growth in the economy as we target a range of LKR 320.0-340.0.”
Business
MullenLowe Group Sri Lanka Appoints Sarah Nasry as Director & Chief Financial Officer

MullenLowe Group Sri Lanka (MLG) announced the appointment of Sarah Nasry as Director & Chief Financial Officer, effective immediately.
In her new role, Sarah will lead both the Finance and Human Resources functions at MullenLowe Group Sri Lanka, playing a pivotal role in shaping the company’s financial strategy and people agenda. She holds a distinguished track record across multiple business disciplines, including Supply Chain, ICT, Administration, Corporate Communications, and CSR. Sarah brings a wealth of experience from her most recent position as General Manager – Finance & Business Partnering at Brandix, Sri Lanka’s leading apparel manufacturer.
Recognised for her strengths in business partnering, financial planning, and strategic decision-making, Sarah is also widely respected for nurturing inclusive, people-centric cultures that foster growth and high performance.
Thayalan Bartlett, Executive Chairman of MLG, commented, “Sarah’s appointment follows an extensive search for the right person to lead our finance division through the next phase of our journey. Her wide-ranging experience and strong leadership credentials give me every confidence that she will continue to strengthen the financial integrity and compliance standards we are known for, and the Board looks forward to working closely alongside her in this journey.”
Sarah also marks a significant milestone for the company, becoming the first female member of MLG’s Board of Directors. She will additionally serve on the MLG Executive Committee (ExCo), reinforcing the company’s commitment to diversity and inclusion at the leadership level.
Commenting on her appointment, Sarah said, “I am honoured and excited to join MullenLowe Group Sri Lanka and help steer the company into its next chapter. I look forward to collaborating with the talented team at MLG to drive financial strength, champion a people-first culture, and build on the company’s strong legacy of creativity and performance.”
Business
Sun Siyam Pasikudah Named Tripadvisor Travelers’ Choice Award Best of the Best Winner for 2025

Sun Siyam Pasikudah, a boutique luxury resort on Sri Lanka’s eastern coast, is thrilled to announce its recent win at the Tripadvisor’s Travelers’ Choice Awards Best of the Best for 2025, placing it among the top 10 percent of resorts worldwide. This accolade reflects the resort’s commitment to exceptional guest experiences, sustainable practices, and community engagement.
As the world’s largest travel guidance platform, Tripadvisor has unparalleled authority with travelers and diners. This award is based on genuine feedback from anyone in the community who has visited and left an authentic, first-hand review on Tripadvisor over a 12-month period, making it a valuable and trustworthy designation of travelers’ favorites.
Reopened in November 2023 after an extensive transformation, Sun Siyam Pasikudah offers 34 spacious one- and two-bedroom garden and beach pavilions, each featuring bold monochromatic interiors accented with golden tones. The redesign, led by Studio Sixty7, emphasizes a blend of contemporary elegance and local craftsmanship. The resort collaborated with local artisans, showcasing Sri Lanka’s rich talent and cultural heritage.
‘‘We are thrilled to being recognized on par with some of the world’s best resorts. Under just two years since our reopening, this achievement couldn’t be possible with the tremendous effort and support of our world-class team and our guests that keep coming for the unique experiences we offer. We are proud to contribute to Sri Lanka, a destination that is on every traveler’s go-to list,’ said its General Manager, Arshed Refai who has been with Sun Siyam Resorts for over a decade.
Business
Canon celebrates 22nd consecutive year of No. 1 share of global interchangeable-lens digital camera market

Metropolitan Technologies (Pvt) Ltd., the sole authorized distributor for Canon in Sri Lanka, proudly celebrates Canon Inc.’s remarkable achievement in the world of Imaging. Canon’s interchangeable-lens digital cameras, both DSLR and mirrorless, have maintained the No. 1 global market share for an unprecedented 22 consecutive years, from 2003 to 2024. This milestone reaffirms Canon’s legacy of innovation and excellence, solidifying its position as the preferred choice for photographers, cinematographers and vloggers worldwide.
Throughout its 22-year history, the EOS series has led the market with a range of outstanding models. During the dawn of digital SLR cameras, Canon introduced its breakthrough EOS Kiss Digital (EOS Digital Rebel or EOS 300D in other regions) in September 2003. By launching this groundbreaking camera, which was competitively priced and featured a compact, lightweight design, Canon spurred growth in the digital SLR market, capturing the top share of the global market and heralding the age of digital SLR cameras.
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