IPS study exposes obstacles faced by Lankan women in pursuit of decent work

The pursuit of decent work for women remains a significant challenge in Sri Lanka, with only 7.7 percent of working-age females engaged in formal employment, with fair wages and reasonable working hours, a study by the Institute of Policy Studies (IPS) showed. This persistent issue is further exacerbated by a host of unique barriers, preventing women from accessing quality employment opportunities. IPS Director Research Dr. Nisha Arunatilake note

Sri Lanka’s Pekoe Trail wins prestigious British Guild of Travel Writers Award

Sri Lanka bagged the prestigious British Guild of Travel Writers Tourism Award for the Best International Tourism Project in the Wider World for The Pekoe Trail, at the Annual Gala Awards held in London, on November 5. This is the first time Sri Lanka has secured an International Tourism Award at the renowned British Guild. The award was received by Tourism Minister Harin Fernando, who attended the event as a guest of honour.

New Delhi to restrict vehicles as pollution spikes

AFP: New Delhi will restrict the use of private vehicles for a week in a bid to offer residents some respite from the toxic smog choking the megacity, authorities announced yesterday. Delhi, home to 30 million people, is blanketed in acrid smog at the onset of winter every year, primarily blamed on stubble burning by farmers in the neighbouring agrarian states. The city is regularly ranked as one of the most polluted on the planet, with its smog

SLAEA President calls for foreign investment in sustainable fabric manufacturing at Shanghai Conference

The Sri Lanka Apparel Exporters Association (SLAEA) participated in the 16th Global Textile and Apparel Supply Chain Conference, held in Shanghai, China, recently, with a focus on innovation and development of national high-end textile advanced manufacturing clusters. Representing Sri Lanka at the annual conference, SLAEA President Indika Liyanahewage spoke on ‘Green dynamics and intelligent empowerment’, with special emphasis on sustainable fabr

DFC Chief Executive Scott Nathan in town

U.S. International Development Finance Corporation (DFC) Chief Executive Officer (CEO) Scott Nathan will visit Colombo from November 7-8, to participate in a launch event for a new DFC investment at the Port of Colombo that will provide critical infrastructure for the South Asian region. Nathan will also participate in a signing ceremony for DFC’s investment commitment to Citizens Development Business Finance (CDB), which in collaboration with

Hemas Hospitals announces expansion strategy with focus on acquisitions

Hemas Hospitals yesterday said it would initiate a series of expansion plans to expand its presence in Sri Lanka’s healthcare sector. Celebrating its 15-year milestone, Hemas Hospitals expressed its intention to achieve this growth primarily through acquisitions within the country. “In the next five to seven years, Hemas (Hospitals) is going to expand its services either through acquisitions or by expanding its own hospitals in Thalawathugoda an

Private credit expands for fourth straight month in September

Credit to the private sector expanded for the fourth consecutive month in September, in line with the expectations of the Central Bank, which has slashed the policy rates significantly to spur growth. As per the data released by the Centra Bank, private credit expanded by Rs.69.7 billion in September, significantly up from Rs.5.5 billion in August.

SL’s Pekoe Trails bags Best Wider World Tourism Project award

Sri Lanka’s Pekoe Trails won the Best Wider World Tourism Project organized by the British Guild of Travel Writers.

Sri Lanka continues to flout key principles of tax policy: economist

Although Sri Lanka’s tax system saw some improvement with the reforms implemented in 2022, the island nation still violates all key principles of tax policy, a senior economist said.

CSE launches stock borrowing and lending and regulated short selling

Stock borrowing and lending (SBL) is a mechanism that is introduced by the Colombo Stock Exchange (CSE) through the Central Depository System....

Sri Lanka to host Asia Pacific Retailers Conference and Exhibition 2024

The Sri Lanka Retailers Association (SLRA), which serves as the foremost organisation for organised retail in Sri Lanka, recently...

Initiative launched towards digitisation of MSMEs in Sri Lanka

A capacity building workshop on strengthening business digitisation and product promotion initiatives among micro, small and medium-sized....

Lord Davis visits BOI

UK Prime Minister’s Trade Envoy to Sri Lanka Lord Davies of Abersoch and UK High Commissioner to Sri Lanka Andrew Patrick met Board....

Wealth, inheritance and gift tax webinar on Nov. 9

The KPMG Sri Lanka Academy is hosting a webinar on wealth, inheritance and gift tax on November 9, at 3:00 p.m. The session....

ComBank ranked as Strongest Bank in Sri Lanka by The Asian Banker

Commercial Bank of Ceylon has been ranked as the Strongest Bank in Sri Lanka in 2023 by TAB Insights, the global research...

Union Bank posts steadfast 9-month performance

Union Bank was able to continue a steadfast performance in the 9 months ended 30 September 2023, recording a notable improvement...

BOC offered certificate of recognition as top banking brand

Country’s No.1 Banking Brand for 15 consecutive years, Bank of Ceylon (BOC) was offered the certificate of recognition as a banking....

India’s New Delhi blanketed by toxic haze, becomes world’s most polluted city again

India’s capital New Delhi was wrapped in a thick layer of toxic haze on Friday and some schools were ordered closed as the air quality...

Shell posts US$ 6.2bn profit as oil prices rise again

Oil and gas giant Shell has posted strong profits helped by oil prices rising again. The energy giant reported earnings of US$ 6.2bn...

Best Management Practices Company Awards 2024 announced

In a commitment to championing best management practices, the Institute of Chartered Professional Managers of Sri Lanka ....

Private sector emphasises importance of labour law reforms to boost Sri Lanka’s competitiveness

Shippers Academy, AmCham, JAAF hold forum to highlight importance of labour law reforms to increase competitiveness Stakeholders emphasise flexible work hours, restructuring costs of vital importance to sustain apparel industry Ministry of Labour states increasing female workforce participation remains key objective

CA issues interim order suspending Customs’ seizure notice on electric cars

The Court of Appeal has issued an interim order suspending the implementation of the seizure notices and restraining the Customs....

Ceylon Energy embarks on tower stringing phase of ADB-funded CEB SESRIP-P4

Ceylon Energy, a strategic alliance of St Theresa Industries, in collaboration with Qingdao Huijintong Power Equipment Co., Ltd (HJT)....

US court grants Sri Lanka’s request for 6-month halt in Hamilton Reserve Bank lawsuit

The United States District Court has granted Sri Lanka’s request for a six-month halt on Hamilton Reserve Bank’s (HRB) lawsuit against the country, US media reports said.

HNB wins Sri Lanka Technology Excellence Award for Robotics - Banking

Sri Lanka’s premiere private sector commercial bank, Hatton National Bank PLC (HNB), clinched the Sri Lanka Technology Excellence....

People’s Bank and Western Union strengthen commitment to serving Sri Lankan communities

Western Union delegates recently paid a visit to People’s Bank, Wellawatta branch, during their official visit to Sri Lanka. During....

PIM-LankaPay enable SME vendors for fintech

PIM recently celebrated the success of the fintech implementation project by the MBA 2023 students. As part of their course...

SL needs to create a culture of respecting CBSL’s operational independence: Dr. Coorey

The passage of the Central Bank of Sri Lanka Act is a significant milestone on the path to achieving good governance in the conduct of monetary policy but insulating the conduct of monetary policy from fiscal and political pressures, especially in the upcoming election year, would not be the responsibility of the monetary watchdog alone, asserted a top economist. Presidential Advisor and former International Monetary Fund Director Dr. Sharmini Co

Government to allow locally manufactured alcohol beverages to be sold on duty free premises

The local alcohol beverage manufactures were given assurance by the government this week that their product ranges will soon be allowed on the shelves of duty free premises. Investment Promotions State Minister Dilum Amunugama assured that the necessary approvals and amendments to the required legislations would be made, to allow the alcohol beverages produced in Sri Lankan on the counters of duty free premises. “Every other country has its pro

Colombo Tea Auction sees quantities improve but demand to pick up

The overall offerings at the Colombo Tea Auction are observed to be increasing, with this week showing a further improvement, as the quantities totalled 5.3 million kilogrammes. However, the offering was met with less demand for the High and Medium Grown Small Leaf teas, whilst the Low Grown and Large Leaf varieties encountered mixed demand, Forbes and Walker Tea Brokers said. The Ex-Estate offerings totalled 0.67 million kilogrammes, marginally