FitsAir welcomes first Airbus A320-232

FitsAir, formerly known as ExpoAir, on this week welcomed its first Airbus A320-232, which will be inducted to its fleet as a freighter, to support the local exporters and government’s vision to make Sri Lanka an exporting powerhouse.

IATA Travel Pass successfully trialed on first int’l flight

The International Air Transport Association (IATA) yesterday announced the arrival at London’s Heathrow Airport of the first traveler using the IATA Travel Pass app to manage their travel health credentials.

Russian billionaire Andrey Melnichenko visits Port City

Russian billionaire Andrey Melnichenko who is in town, as exclusively reported by Mirror Business, visited the Colombo Port City today. He was accompanied by Sri Lankan-born British Politician and former EU Parliamentarian Niranjan Deva Aditya

US dollar selling rate surpasses Rs.201

The Sri Lankan rupee further depreciated today with the selling rate of US dollar hitting Rs.201.75, according to the Central Bank exchange rate data.

The Finance depositors seek urgent govt. intervention

The Depositors of the failed The Finance Company PLC (TFC) have called on the government to urgently intervene in the settlement process, so that they are able to obtain their funds at the earliest.

BOI to facilitate visiting investors via bio security bubble

The Board of Investment (BOI) of Sri Lanka will facilitate potential investors, who wish to visit the country through the bio security bubble option.

Larger firms dominating market due to Covid-19: IMF

The International Monetary Fund (IMF) has warned following the COVID-19 pandemic larger firms are dominating the market in advanced economies due a shift in market power

Sri Lanka’s economy contracts 3.6% in 2020

Sri Lanka’s Gross Domestic Product (GDP) contracted 3.6 percent in 2020 compared to 2.3 percent expansion in 2019, displaying the severity of the disruptions caused by the COVID-19 pandemic on the island nation’s economy, despite the last two quarters of the year recording positive growth rates.

Russian billionaire Andrey Melnichenko in town

Russian billionaire Andrey Melnichenko is currently in Colombo and is expected to hold talks with the top level of the Sri Lankan government, including Prime Minister Mahinda Rajapaksa, Daily Mirror learns.

All BreadTalk outlets to be closed from March 20

R I L Property PLC today said the director board of its wholly owned subsidiary FoodBuzz (Pvt) Ltd. has decided to close all BreadTalk outlets from March 20, 2021 until further notice.

Register for COVID-19 vaccination via eChannelling

SLT-Mobitel has collaborated with the IT Division of Colombo Municipal Council (CMC) to introduce yet another pioneering initiative through Mobitel’s eChannelling service, enabling the convenient registration of persons for the COVID-19 vaccination.

SAARC Startup Awards recognises Hatch as Best Co-Working Space 2020

Hatch, an innovative co-working space and start-up incubator established in Sri Lanka, has been recognised by the prestigious SAARC Startup Awards as Best Co-Working Space 2020.

Three Lankan restaurants among ’Essence of Asia’ Collection

To support the recovery of the hospitality sector, Asia’s 50 Best Restaurants – in association with S.Pellegrino & Acqua Panna – have announced ’Essence of Asia’, an unranked collection of restaurants that represents the spirit of Asian gastronomy.

US dollar selling rate hits Rs.200

Sri Lankan rupee today depreciated to new lows against the US dollar with the current selling price hitting Rs.200.06 a dollar, according to the Central Bank data.

Telecom sector revenue to grow by 5-7% this year: Fitch

Fitch Ratings expect Sri Lankan telecom industry’s revenue to rise by 5-7 percent this year, driven by a surge in data and fixed broadband, largely due to COVID-19 effects.

Facebook launches Instagram Lite in Sri Lanka

Facebook has launched Instagram Lite in Sri Lanka in order to provide access to all users, irrespective of the device, platform and network they are on. This lightweight version of the Instagram app for Android uses minimal data, similar to Facebook Lite.

Norfund to invest up to 9.99% stake in NDB

Norwegian Development Finance Institution (Norfund), which is owned and funded by the Norwegian government, yesterday entered into an agreement with Sri Lanka’s National Development Bank PLC (NDB) to invest up to 9.99 percent stake in the bank.

CB and IFC launch SL’s first national financial inclusion strategy

Sri Lanka’s first National Financial Inclusion Strategy (NFIS), launched today, aims to make financial services more accessible, efficient, and affordable for all households and businesses in the country.

SriLankan Cargo operates consecutive charters to Uganda

SriLankan Cargo operated today operated three consecutive cargo charters to Uganda

Dialog connects Sri Lanka and Maldives with high-speed submarine cable

Dialog Axiata PLC Sri Lanka’s premier connectivity provider yesterday announced the commissioning of the Maldives-Sri Lanka Cable system (MSC), enabling the delivery of high-speed broadband services.

Ceylon Tobacco appoints Suresh Shah as Chairman

Reputed business leader, Suresh Kumar Shah, has been appointed Chairman of Ceylon Tobacco Company PLC (CTC) with effect from 16 February 2021.

PUCSL nod for PPA of 300MW Kerawalapitiya LNG power plant

The Public Utilities Commission of Sri Lanka (PUCSL), the electricity sector regulator has approved the power purchase agreement (PPA) to build 300 MW Kerawalapitiya liquid natural gas (LNG) power plant in Sri Lanka under the new chairmanship and the board members, last week.

LOLC Group records Rs.45bn PAT for nine months

LOLC Holdings PLC (LOLC) recorded a PAT of Rs.45 billion for the nine months ended December 31, 2020, after adjusting for corporate tax on a PBT of Rs. 48 billion.

‘Yellow rice with chicken’ most ordered meal on Uber Eats

The lockdown, isolation and quarantine may have restricted access to food outlets but they certainly did not stop locals from making Sri Lanka’s very own ‘yellow rice and chicken’ the most sought-after meal in 2020.

Sri Lanka@100 selects 7 mid-market firms to support

Funded by the United States, Sri Lanka@100 (SL@100) selected its first round of seven high-potential companies to receive cutting-edge business advisory services to accelerate their growth. SL@100, a private sector-led platform focused on the growth of mid-sized firm, will equip the seven companies with skills to optimize operations, increase profitability, and expand markets.

Sri Lanka’s bonds tumble as default worries mount

REUTERS: Sri Lanka’s government bonds tumbled on Tuesday as warnings that the country was at increasing risk of default continued to mount after a turbulent couple of weeks for Colombo.

Gulf Air resumes direct flights to Colombo

Gulf Air, the national carrier of the Kingdom of Bahrain will resume its direct operations to and from Colombo’s Bandaranaike International Airport (BIA) with two weekly flights starting from 15 February 2021 on its new Airbus A320neo aircraft.

CB says settled swap arrangement with RBI

The Central Bank said it settled a swap arrangement with Reserve Bank of India (RBI), but refuted certain media reports that there was no special request from India to settle the facility prematurely.

SL welcomes over 1, 500 tourists in January

Sri Lanka has welcomed a total of 1,682 tourists for the month of January recording a 99.3 percent decrease in arrivals compared to the corresponding month in 2020.

LOLC dethrones JKH to become most valuable corporate on CSE

Diversified LOLC Holdings PLC today dethroned the long time top dog John Keells Holdings PLC (JKH) becoming the most valuable listed entity on the Colombo Stock Exchange (CSE) in terms of market capitalization.