FDI projects in SL increase by 122% YoY

Sri Lanka has seen foreign direct investment (FDI) projects increase by 122 percent this year so far, in comparison to 2022, the Investment Promotions Ministry said.

Colombo Tea Auction sees 5.2 MnKgs come under hammer this week

The offerings at the Colombo Tea Auction totalled 5.2 million kilogrammes, marginally lower from the previous week’s 5.4 million kilogrammes.

Insurance Regulatory Commission called on to amend laws to protect policyholders

The Sectoral Oversight Committee on Alleviating the Impact of the Economic Crisis called on the Insurance Regulatory Commission to amend the laws, within a period of one month, to protect the insurance holders.

SLSC, SLPA unite to make significant strides towards advancing Sri Lanka’s imports and exports

The Sri Lanka Shippers’ Council (SLSC) recently joined forces with the Sri Lanka Ports Authority (SLPA) in a strategic meeting, in an effort to make significant strides towards advancing Sri Lanka’s imports and exports.

Nissan to lead £2bn investment in UK electric car plant

BBC: Nissan and its partners have announced a £2 billion plan to build three electric car models at its Sunderland factory.

China trials visa-free travel for six countries

BBC: China is trialling visa-free travel for citizens from France, Germany, Italy, the Netherlands, Spain and Malaysia for a year, its Foreign Ministry said.

CBSL further reduces policy interest rates

The Monetary Policy Board announced its decision to reduce the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank by 100 basis points (bps) to 9.00 percent and 10.00 percent.

SLPA Enquiry Centre opens for public to access port information

Minister of Ports, Shipping, and Aviation, Nimal Siripala de Silva, recently inaugurated the Enquiry Centre of the Sri Lanka Ports Authority (SLPA), bolstering the capabilities of the Port of Colombo. The port serves as a crucial hub and international trade and shipping center, maintaining continuous operational activities. The SLPA E

Minister, officials and foreign consultants discuss next phase of electricity sector reforms

The government officials and foreign consultants met yesterday to discuss the next phases of Sri Lanka’s electricity sector reform process, Power and Energy Minister Kanchana Wijesekera said. The Cabinet of

Brandix excels at National Export Awards

Sri Lanka’s premier apparel manufacturer, Brandix, was recognised for leading Sustainable Development in Exports from Sri Lanka, at the Presidential Export Awards 2023 held last night. The seven-tim

CTC files clarification to CSE on pending legal matter

Upon receiving a certified copy of the Court of Appeal order dated November 17, 2023, Ceylon Tobacco Company PLC (CTC) yesterday issued a clarification to the Colombo Stock Exchange on the pending legal matter. Referring to a fi

Colombo Dockyard deep in red as multiple crises bite

Management confident of a turnaround as company looks past worst challenges

Pvt. sector told to be more proactive in tackling brain drain

The private sector can and should be more proactive in retaining talent within the country, rather than giving up and choosing to do nothing regarding the ongoing brain drain, as stated by a top panel comprising private sector lea

UK economy growth forecasts slashed for next two years

BBC: The UK economy will grow much more slowly than expected in the next two years as inflation takes longer to fall, the government’s forecaster says. Living sta

Local tile makers call for anti-dumping laws after easing of import restrictions

Local tile manufacturers have appealed to the government to enforce anti-dumping laws within the sector, ensuring a level playing field, according to Sagala Ratnayaka, the Chief of Staff to President Ranil Wickremesinghe. The push to be covered under the said legislation comes as the government relaxed import restrictions that were introduced in 2020, to reduce the outflow of foreign exchange from the country. While acknowledging the need for loc

Prez charts bold vision for SL’s agriculture sector revitalisation

In a momentous speech delivered at the 25th Presidential Awards of the Export Development Board (EDB) held yesterday in Colombo, President Ranil Wickremesinghe unveiled an extensive plan to rejuvenate Sri Lanka’s agricultural sector for export. President Wickremesinghe emphasised the necessity of modernising agricultural practices and enhancing research capabilities. The proposed restructuring involves revamping existing agricultural research i

Can we develop our country with the current mentality?

Since independence Sri Lanka has been struggling to arrive at a developed state. We seem to be failing at it, making the same mistakes over and over again. The western institutes, which run the global financial systems and development aid, require poor nations to follow a linear development process, which reinforces and consolidates the current global order. That is why only a handful of nations have been able to exceed to a developed state since

CICT launches strategic collaborative partnership with Moratuwa University

Colombo International Container Terminals (CICT) has entered into a milestone collaboration agreement with the University of Moratuwa (UoM), creating a broad framework for a closer strategic alignment of academia and the logistics and engineering industries. A Memorandum of Understanding signed by the two entities outlines the parameters of a partnership that will encompass placement of the university’s graduates in management trainee programmes

Freight 360 celebrates 5th year anniversary

The company celebrated its 5th-year anniversary, a testament to the dedication and perseverance that has propelled them forward in the competitive logistics industry. As a subsidiary of Eagle Logistics, Freight 360 Pvt Ltd has carved a niche for itself and is committed to delivering top-notch logistics services while contributing to the growth of the industry. Freight 360 Pvt Ltd, a subsidiary of Eagle Logistics, is proud to announce that they ha

Eagle Logistics Colombo celebrates 18 years of excellence and innovation

Eagle Logistics Colombo marked its 18th year in the logistics industry with a celebration at the company’s headquarters on October 20th. This pivotal anniversary signifies nearly two decades of growth, transformation, and unwavering dedication to excellence. The company’s General Manager, Rangana Perera, reflected on the remarkable journey, stating, “When we started Eagle Logistics Colombo 18 years ago, our vision was clear: to excel in the logis

Emirates becomes world’s first airline to operate A380 demonstration flight with 100% SAF

Emirates has become the world’s first airline to operate an A380 demonstration flight using 100 percent Sustainable Aviation Fuel (SAF). The flight commanded by Captain Khalid Binsultan and Captain Philippe Lombet, took off from Dubai International Airport (DXB) with one of four engines powered on 100 percent SAF, helping demonstrate its potential as a drop-in replacement that matches jet fuel’s technical and chemical requirements, while being a

SLT-Mobitel partners IntaHub to revolutionize hospitality software solutions globally

SLT-Mobitel partnered IntaHub (Pvt) Limited, a renowned software company that provides tailored solutions for the dynamic hospitality industry, with the aim of enhancing capabilities and pioneering cutting-edge hospitality technology on a global scale. The collaboration was marked by a formal agreement signed by Janaka Abeysinghe, Chief Executive Officer of SLT, and Dimuth Dunusinghe, Chief Executive Officer/Chairman of IntaHub (

SLPA Enquiry Centre opens for public to access port information

Minister of Ports, Shipping, and Aviation, Nimal Siripala de Silva, recently inaugurated the Enquiry Centre of the Sri Lanka Ports Authority (SLPA), bolstering the capabilities of the Port of Colombo. The port serves as a crucial hub and international trade and shipping center, maintaining continuous operational activities. The SLPA Enquiry Centre aims to provide expedited and convenient information about port services for both local and foreign

SHMA partners NYC under SSG project to empower hospitality sector youth

With the aim of encouraging and empowering the youth of Sri Lanka in equipping themselves with the required skills and talent to take on as tomorrow’s leaders in the hospitality industry, the Swiss Hotel Management Academy Pvt. Ltd. (SHMA) of A. Baur & Co. Pvt Ltd., also known as Baurs, recently signed an MoU with the National Youth Corps of Sri Lanka (NYC). NYC which comes under the purview of the Ministry of Sports and Youth Affairs will now be

Prudential Shipping joins Pace Marine to boost STS operations at H’tota port

In the complex world of maritime commerce, the efficiency of port operations plays a pivotal role in global trade. One crucial aspect that has gained prominence in recent years is Ship-to-Ship (STS) transfer operations. Prudential Shipping by MendisOne, one of Sri Lanka’s fast-growing Shipping Agencies, joins forces with Pace Marine, India to enhance maritime operations at the Hambantota International Port to commence STS Operations. STS transfe

Commercial Credit enters digital payment space with Pay&Go

Heralding its entry into the digital payment space, Commercial Credit and Finance PLC (CCF) recently announced its acquisition of a 19.99 percent stake in Mega Pay (Pvt.) Ltd, which provides payment services under the Pay&Go brand. Pay&Go is the first step in CCF entering the digital payment space. The partnership with Mega Pay is also expected to encourage other players in the market to use the platform, helping clients adopt a cashless culture

HNB with LinearSix unveils future of rapid customer onboarding

Sri Lanka’s most technologically innovative bank HNB PLC partnered with LinearSix (Pvt.) Ltd to introduce ‘Lime’ – a revolutionary fintech solution that will radically streamline customer onboarding and know your customer (KYC) processes. The landmark integration of Lime was commemorated at a special ceremony attended by top officials from both organisations, including HNB Managing Director/CEO Jonathan Alles and LinearSix CEO Mario Gooneratne,

Sunshine Holdings’ sales champions win big at SLIM National Sales Awards 2023

Diversified conglomerate Sunshine Holdings PLC announced that 13 members from its sales teams have been recently recognised at SLIM National Sales Awards (NSA) 2023, winning two Gold, six Silver, four Bronze and one Merit awards. Sales forces have become invaluable, especially in the competitive business environment. They are vital to the growth and sustainability of any business. They act as the bridge between products and the customers and play

Union Assurance strengthens ‘Go Green’ initiatives with policy certificates, e-policy documents

Union Assurance, Sri Lanka’s leading life insurer, has continuously recognised the importance of sustainability and environmental responsibility with ‘Go Green’ initiatives. To further enhance the company’s dedication to green initiatives, Union Assurance has introduced the policy certificate along with the e-policy document, with the aim of minimising the industry’s ecological footprint, promoting sustainable practises and contributing to broade

Dialog Axiata upgrades official website to support inclusive online journeys

Dialog Axiata PLC, Sri Lanka’s premier connectivity provider, upgraded its official website – dialog.lk, by redesigning it to be more accessible and user-friendly for persons with disabilities (PWDs), underscoring the company’s unwavering commitment to inclusivity. With accessibility and inclusion at the core of this website upgrade, dialog.lk will now include features such as screen reader compatibility, accessible colour schemes for those wi