Great Workplaces in Sri Lanka contribute to recognition of world’s Best Workplaces for MNCs

All around the world, employees need the same elements from their workplace in order to thrive: trust in leaders, pride in their....

Kapruka strengthens e-commerce Reach through strategic partnership with Shiro Hana

Kapruka Holdings PLC, the industry leader in e-commerce, is pleased to announce its strategic partnership with Shiro Hana....

CMA to hold joint conference on ‘Cost and Effect on Industry and Services to Drive Business Performance’

The Joint International Cost Conference organised jointly by the Institute of Certified Management Accountants of Sri Lanka...

Foreigners still in and out of rupee treasuries

What appeared to be a renewed interest in Sri Lankan treasuries by the foreigners at the start of the new year soon turned around in the subsequent week as they had offloaded more than what they purchased a week before after suffering virtually continuous selling during the back half of last year.

CEAT helps keep Suwa Seriya ambulances on road

The 322-strong fleet of ambulances operated by the Suwa Seriya Foundation will continue to fulfil its humanitarian mission in Sri Lanka, with tyres supplied by CEAT Kelani Holdings as the preferred tyre supplier. CEAT Kelani recently renewed its commitment to Suwa Seriya, undertaking to provide tyres for five ambulances free of charge and to provide the others at a special price that is marginally above the cost of production. Suwa Seriya runs a

Phoenix Homeopathic Hospital opened in Kadawatha

Phoenix Homeopathic Private Hospital was recently inaugurated under the patronage of Indigenous Medicine State Minister Sisira Jayakodi. Homeopathic practitioner Dr. P.M. Chatura Hatharasinghe took the initiative to launch this private hospital, which provides treatment under the world-recognised homeopathic medical field. Having completed a degree in homeopathic medicine from the National Institute of Homeopathy in Calcutta, India, with a schol

Lanka IOC donates dialysis machine, RO unit to National Hospital

Lanka IOC, with a presence spanning over two decades in the petroleum products market in Sri Lanka, has consistently played a crucial role in serving the nation. One noteworthy period of its contribution was during the fuel crisis, where various government and non-government organisations relied heavily on the company to address their energy needs. Without hesitation, Lanka IOC assisted all entities seeking help, ensuring a seamless continuation

Vision Care Hearing Solutions and Oticon host annual conference

Vision Care Hearing Solutions, a leading provider of hearing care solutions in Sri Lanka and part of Vision Care, the largest vision and hearing care solutions provider in the country, recently hosted its annual knowledge sharing conference in collaboration with Oticon. The event, attended by ENT surgeons and ENT senior registrars, featured Oticon Export Senior International Trainer Dr. Maureen Tomasula (Aud/CCC-A, F-AAA), as the main speaker. Th

Comprehensive Sri Lanka Tourism app to go live by end-1Q24

Sri Lanka’s tourism industry is gearing up to receive a fresh boost, as the highly anticipated all-inclusive Sri Lanka Tourism app is expected to go live by 1Q24. The Cabinet nod has been received recently to reactivate the initiative, which was initially approved in 2019. “This received the (Cabinet) approval in 2019, with a Malaysian collaborator. Because of COVID and other reasons, it was in the cold storage for a while. With tourism picking u

Central Bank Chief challenges notion of development banks for SME support

The banks are set to receive guidelines for the establishment of business revival units, aimed at assisting the small and medium enterprises (SMEs) affected by the recent crises.

Private credit surges, signalling onset of new credit cycle

Sri Lanka seems to be embarking on a new credit cycle, following almost two years of contraction, as the commercial banks are signalling their preparedness to resume robust lending, aligning with the improving financial conditions. The provisional data from the Central Bank showed that the commercial banks had collectively extended their outstanding private sector credit by relatively robust Rs.63.0 billion in November, picking up from a Rs.37.9

Aitken Spence Hotel Holdings appoints Dr. Ravindra Fernando to board

Aitken Spence Hotel Holdings PLC has disclosed the appointment of Dr. Ravindra Ajith Fernando as an Independent Non-Executive Director, effective from January 10, 2024. Dr. Fernando is a University of Cambridge alumnus, having successfully completed a Postgraduate Certificate in Sustainable Business in 2008 and a Master of Studies in Sustainability Leadership in 2014. He has an MBA from the University of Colombo and holds a Doctor of Business Adm

Pongalo Pongal!

Several Tamil-owned businesses across Sri Lanka yesterday joined in the festivities of Thai Pongal, a celebration that underscores the significance of agriculture and rural life. The joyous occasion, dedicated to expressing gratitude to the sun, soil and cattle, for their pivotal roles in the agricultural cycle, saw the entrances of business establishments adorned with vibrant ‘kolams’—artistic patterns crafted with rice flour. Meanwhile, the e

Central Bank sees further room for bond yields to ease

The Central Bank said there is still potential for the yields on government securities to reduce on their own. While the downward adjustment is expected, as a result of the cumulative impact of the previous monetary policy measures taken by the monetary watchdog, these measures are likely aimed at stimulating economic activity or managing inflation. However, uncertainties related to foreign debt restructuring may be hindering the complete realisa

SLT catches eye of Mukesh Ambani-owned Jio Platforms

Sri Lanka Telecom (SLT) has caught the eye of India’s Reliance Industries, with its telecom arm Jio Platforms having expressed interest in procuring a stake in the island nation’s stressed state-owned telecom entity. At the end of last week, the Sri Lankan government shared that Mukesh Ambani-owned Jio Platforms is among the three companies that have put forward their interest to bid for SLT. The other two entities are Gortune International Inve

AI could impact 40% of jobs across the world: IMF cautions

The boom in technology is taking the world by storm but millions of employees are at risk as artificial intelligence (AI) is expected to affect almost 40 percent of jobs around the world, the International Monetary Fund (IMF) cautioned. IMF Chief Kristalina Georgieva noted that while AI would replace some jobs and complement others, efforts are needed to ensure a careful balance of policies to tap its potential. “The rapid advance of AI has capt

Abans introduces LG Dual Cool Inverter air conditioner for superior experience

Discover the pinnacle of cooling technology with LG air conditioners, brought to you exclusively by Abans, the sole agent for LG in Sri Lanka. Revolutionizing the way you experience air conditioning, the LG Dual Cool Inverter AC with Wi-Fi technology offers unparalleled features and benefits that make it a standout choice for comfort and efficiency. Say goodbye to improper cooling, inefficiency, and noise disturbances with LG’s innovative Dual

Cool Planet opens new outlet in Katubedda

Cool Planet launched its 10th outlet, by expanding to Katubedda, marking a significant milestone in the brand’s commitment to delivering unparalleled shopping experiences. This achievement underscores the brand’s dedication to meeting the evolving needs of its diverse customer base, particularly during the festive season. The Katubedda outlet joins the recently unveiled all-new Nugegoda store and the Havelock City Mall location, is a testame

Enchanteur launches soaps of three floral variants

Enchanteur made a grand foray into soap category with their three exclusive variants Romantic, Charming and Alluring. The new offerings promise a fine fragrance experience at an affordable price point. The event was graced by the presence of distinguished principals from “Wipro Consumer Care” Group along with officials of UTN Group of Companies. Enchanteur soap’s three floral variants promise a unique sensory bathing experience. Attendees were t

Germany’s Häcker elevates culinary experience with stylish kitchen designs

In the world of kitchen design and innovation, few names stand as tall as Häcker. Hailing from Germany, a country renowned for its precision engineering and meticulous attention to detail, Häcker kitchens have earned a global reputation for excellence. With a heritage spanning over seven decades, Häcker has consistently pushed the boundaries of kitchen design, seamlessly blending functionality, aesthetics, and sustainability. Here, we delve into

Princess Anne’s visit to British Council marks two major milestones

Her Royal Highness The Princess Royal and Vice Admiral Sir Timothy Laurence visited the British Council office in Colombo on 12 January for a series of engagements as part of their visit to Sri Lanka. They were welcomed at the British Council with a traditional dance performance by school children from the Dikhena school. They then viewed the ‘Arches of Awe’ exhibition at the British Council library which has been curated by diplomatic historian

ComBank and Hayleys Solar partner to empower businesses with alternative energy solutions

Businesses looking for a viable alternative to electricity from the national grid have been provided an opportunity to invest in solar power as a result of a collaboration between the Commercial Bank of Ceylon and Hayleys Solar, the renewable energy arm of Hayleys Fentons Limited. A memorandum of understanding (MoU) signed by the two organisations commits the Commercial Bank to offer concessionary terms under the bank’s ‘Diribala Green Developmen

SFG achieves milestone as first CORSIA-Accredited Validation & Verification Body in Sri Lanka

The Sustainable Future Group (SFG), Sri Lanka’s premier Sustainability Validation and Verification Body chalked up another first when it was accredited under the Carbon Offsetting Scheme for International Aviation (CORSIA) Scheme. The SFG was also South Asia’s first to be IAF-accredited to award ISO 14064-1 & 2 for Organisational and Project-level GHG Reporting, ISO 14067 for Product Carbon Footprinting, and ISO 14065 for Environmental Informatio

LeEd Stationeries’ pen series takes market by storm

In a groundbreaking move, Kiddies & Toys International (KTI), a prominent subsidiary of LIMRA Holdings, has set the stage for dominance in the Sri Lankan stationery market with the introduction of its revolutionary pen series under the LeEd Stationeries and Crafts brand. This important launch was celebrated with exclusive presentations at leading book stores in Colombo. The LeEd pen series, an integral part of the brand’s commitment to providing

Central Bank re-emphasises why parate law should stay

Weighing in on the pressure to weaken the parate execution powers that lie with the banks, the last recourse to recover moneys lent to willful borrowers, the Central Bank Governor, Dr. Nandalal Weerasinghe once again cautioned of adverse impacts to small and medium businesses which are genuinely in need of money if the country goes down in that path. “We have even in an earlier occasion explained why we need the parate law and I don’t think I nee

DPMC marks three decades of excellence

David Pieris Motor Company (Pvt) Limited (DPMC), the largest automotive company in Sri Lanka, recently celebrated 30 years of revolutionizing not only the local automotive industry but also the transportation industry. DPMC has become a driving force of innovation in Sri Lanka’s automotive industry, giving transportation solutions that provide affordability, economy, and convenience, impacting the lives of almost every citizen in Sri Lanka. This

Japan commends Sri Lanka’s economic advancements following crisis

Sri Lanka’s efforts to come out from the worst crisis faced since independence was commended by one of its major creditors, Japan, whose Finance Minister expressed keenness in deepening economic ties with the island nation. Japanese Finance Minister Suzuki Shunichi, during his two-day official visit to Sri Lanka, which ended yesterday (12), pointed out the areas in which the two nations can strengthen relationships. Accordingly, areas such as inf

Central Bank to review existing capital account restrictions on foreign exchange

The Central Bank will review the remaining restrictions on the outflows from the capital account and gradually start lifting them by taking into account the domestic market foreign exchange liquidity condition improvement. “With the observed improvements in the liquidity position of the domestic foreign exchange market, the Central Bank would review the existing restrictions on certain capital foreign exchange outflows on a priority basis, with a

Good general demand at this week’s tea auction

This week’s auction volumes were fairly similar to last and totalled 5.1 million kilogrammes. There was a good general demand, except in the Duct category, where the prices were impacted, following inactivity of local buyers, perhaps resulting from the recent imposing of the Value Added Tax, Forbes and Walker Tea Brokers said. The Ex-Estate offerings were similar to last and totalled 0.7 million kilogrammes. Improved demand for the better teas, w

Sail Lanka anchors sponsorship for Galle Literary Festival 2024

In a significant show of support for both tourism and the arts, Sail Lanka, the leading name in marine tourism, proudly announces its sponsorship for Galle Literary Festival 2024. This strategic partnership highlights Sail Lanka’s commitment to fostering cultural and artistic endeavours alongside its dedication to promoting tourism in Sri Lanka. The Galle Literary Festival’s programme, carefully curated to celebrate a myriad of voices, spans var