Artificial intelligence vs. copyright

Among the great challenges posed to democracy today is the use of technology, data and automated systems in ways that threaten the rights of the public. Unchecked social media data collection has been used to threaten people’s opportunities, undermine their privacy or pervasively track their activity—often without their knowledge or consent. The

Colombo inflation eases to 4% in August

Inflation in the Colombo district as measured by the Colombo Consumer Price Index (CCPI) decelerated to 4 percent in August on year-on-year (YoY) basis, from 6.3 percent in July, the Department of Census and Statistics said.

Häfele unveils cutting-edge Design Centre in Kandy

Häfele, a renowned global leader in interior solutions with a legacy spanning over a century, inaugurated its state-of-the-art Design Centre in Kandy, marking a significant milestone in its commitment to delivering unparalleled interior innovations. This spacious 2,000 square feet haven effortlessly blends international interior trends with innovative functionality through immersive, interactive displays, transforming design dreams into reality

Vonlan Constructions honoured with Excellence Award

Vonlan Constructions Private Limited, a leading company in the construction industry in Sri Lanka, was honoured with the Excellence Award in the 150-450 million project category at the National Construction Excellence Awards. The award ceremony was held at the Construction Industry Development Authority’s (CIDA) Conference Hall under the patronage of the Minister of Urban Development and Housing, Prasanna Ranatunga. Vonlan Constructions received

Samson Rajarata Tiles marks 20-year journey of beauty and excellence

Samson Rajarata Tiles, Sri Lanka’s number 1 natural roofing and flooring tiles, celebrates a remarkable journey of two decades in operation inclusive of innovation, quality, and sustainability. Samson Rajarata Tiles is a fully owned subsidiary of D Samson Group, commonly known as DSI, one of Sri Lanka’s largest business conglomerate that operates in 16 sectors with 22 strategic business units. Marked by a firm commitment to aestheticism and exc

HNB and Homelands Skyline renew partnership to offer attractive housing loans

Catering to the increasing demand for urban living, HNB PLC, renewed its long standing partnership with property developer and real estate leader Homelands Skyline, to offer prospective homeowners a range of advantages and preferential rates. Customers can make use of this promotion, applicable across its comprehensive apartment portfolio, until the end of 2024. HNB Deputy General Manager - Retail Banking Group Sanjay Wijemanne and Home Lands Gr

Delmege Interior creates dazzling ambience for Edith Cowan University Sri Lanka

On 28 August this year, the Edith Cowan University Sri Lanka (with its local partner ACBT), opened its doors to the public unveiling seven floors of modern, elegant and functional interiors, carefully planned and designed to bring out the best in those utilizing these spaces. Delmege Interior was thrilled to be associated with the internationally renowned and recognized Edith Cowan University of Australia together with Architect Nilesh De Silva

Rohana Construction bags National Construction Excellence Award

Rohana Construction, a leading company in the construction industry in Sri Lanka, was honoured with the Excellence Award in the Rs. 20-40 million project category at the National Construction Excellence Awards. The award ceremony was held at the Construction Industry Development Authority’s (CIDA) Conference Hall under the patronage of Minister of Urban Development and Housing, Prasanna Ranatunga. The company also received Excellence Awards for

Pan Asia Bank facilitates worker remittances for loved ones in Sri Lanka

Remittances from migrant workers overseas are a vital lifeline for Sri Lanka’s economy. As one of the trusted banks for Sri Lankans overseas, Pan Asia Bank’s remittance service also offers Sri Lankan workers abroad a legitimate, safe and hassle-free experience in sending money to their loved ones back home in Sri Lanka. Workers overseas can send their remittances through one of the bank’s remittance partners in their countries - Western Union,

AcSys Networks empowers LCB Finance with network Security and infrastructure Solutions

In a significant move towards enhancing network security, improving connectivity, and ensuring business continuity, AcSys Networks has implemented a comprehensive suite of solutions for LCB Finance PLC. This project aims to bolster the capabilities of LCBF, a prominent financial institution in Sri Lanka dedicated to providing accessible financial services, especially to Micro, Small, and Medium Enterprises (MSMEs). LCB Finance PLC (LCBF) has lon

LOLC Insurance unveils ‘OneClick’ digital journey for customers

LOLC Life and General Insurance, two of Sri Lanka’s leading insurance solutions providers, are excited to announce the launch of their ground-breaking digital solution, ‘LOLC Insurance OneClick’, empowering all Sri Lankans and their loved ones. This innovative digital platform represents a significant advancement in LOLC Insurance’s commitment to delivering a seamless and enhanced customer experience.

BOC recognized among Top 10 ‘Most Admired Companies in Sri Lanka for 2022’

The Bank of Ceylon once again was recognized as one of the “Top 10 Most Admired Companies in Sri Lanka for 2022” at the event organized by CIMA (Chartered Institute of Management Accountants), AICPA (American Institute of Certified Public Accountants), ICCSL (International Chamber of Commerce Sri Lanka) and Daily FT to acknowledge and inspire Sri Lankan corporate citizens in their efforts to maintain good governance and sustainable financial perf

DFCC Bank empowers migrant workers with launch of Financial Literacy Guide

DFCC Bank took a significant step towards empowering migrant workers recently by launching its new Financial Literacy guide titled, “Is this Every Sri Lankan Migrant Worker’s Story?” (Rata Yana Api Hamogema Kathawada Meh?). The launch, spearheaded by DFCC Bank PLC’s Remittances Department, aims to create awareness about financial literacy and educate migrant workers on the advantages of remitting their hard-earned money through legitimate channe

Apple expected to unveil new iPhone at ‘Wonderlust.’ special event

CNN: The next iPhone could be just weeks away. Apple announced its fall special event on Tuesday, sending out press invites for the morning of September 12. Invitees will get to attend in-person at the Steve Jobs Theatre inside Apple Park, the company’s headquarters in Cupertino, California, while the public can watch online at 10:00 a.m. PST. Apple expected Apple’s event invitations are always closely studied for hidden meanings, with this ye

Small businesses still struggling with sky-high interest rates

By the end of July, the licensed commercial banks were charging in the north of 20 percent for their loans, specially to the small businesses, notwithstanding the policy rate cuts amounting to 450 basis points by the Monetary Board of the Central Bank, in June and July. The data showed that by end-July, the average weighted new lending rate offered by the licensed commercial banks was as high as 19.30 percent, which prompted the Central Bank to i

State banks facilitate ‘Aswasuma’ payments despite Poya holiday

People were seen going to state banks yesterday to obtain their ‘Aswasuma’ welfare benefits. Despite August 30 being a Poya holiday, all state banks remained open to facilitate these payments. Finance State Minister Ranjith Siyambalapitiya said on August 29 that the government has initiated phased payments to 1.5 million Aswasuma beneficiaries. He also said that the programme aims to support two million beneficiaries in need of assistance. In t

Sri Lanka and Thailand agree to conclude FTA talks by end of this year

The sixth round of Sri Lanka-Thailand Free Trade Agreement (SLTFTA) negotiations was held in Bangkok, Thailand, from August 21-23. The negotiations were co-chaired by Trade Negotiations Department Director General and Chief Negotiator of Thailand Auramon Supthaweethum and Chief Negotiator of Sri Lanka K.J. Weerasinghe. The delegations from both countries discussed a wide range of issues, including trade in goods, trade in services, rules of origi

Sinopec Group top officials visit BOI

The top officials of China’s Sinopec Group, including International Corp Department Deputy Managing Director Zaire Tiezhu, Director Commissioning and Start-Up Management Professor Zhao Tiezhu and other officials met with Sri Lanka’s Board of Investment (BOI) Chairman and key officials to discuss their ongoing projects and future projects in Sri Lanka.

People’s Bank reports consolidated pre-tax profit of Rs.9.4bn

People’s Bank yesterday announced the results for the six-month period ended on June 30, 2023, reporting a total consolidated operating income and pre-tax profit amounting to Rs.48.2 billion and Rs.9.4 billion, respectively (1H -2022: Rs.80.7 billion and Rs.15.2 billion). Due to higher interest costs, stemming from the high interest rate environment, which prevailed during much of 2022, which led to higher cost of term deposit funding, the cons

Global campaign to market Sri Lanka as more than just a bucket list destination

Sri Lanka’s upcoming global tourism campaign is slated to showcase the island nation from a new perspective, highlighting a wider range of experiences to a broader audience. The concept of the global campaign, which was launched in the second week of August but shared with the media only on Tuesday (29), focuses on repositioning Sri Lanka as a destination worthy of revisits, instead of a mere bucket list destination.

President calls for reassessment of SDGs amid slowing global growth, climate change

President Ranil Wickremesinghe this week indicated the need for a reassessment of the Sustainable Development Goals (SDGs) in light of the economic headwinds faced by both major and small economies and climate change. Addressing a forum themed ‘Sri Lanka Sustainable Development Trajectories and Pathways’, Wickremesinghe said that the SDGs are still important but they need to be adapted to the new reality. He pointed out that the world is still

Apparel exports lead decline in July merchandise exports

Continuing the declining trend in exports, Sri Lanka recorded US$ 1.02 billion export earnings for the month of July, down 11.79 percent year-on-year....

Chinese energy firms briefed about power and energy sector opportunities

Power and Energy Ministry yesterday presented the investment opportunities available in Sri Lanka’s power and energy sector to energy....

Govt. begins first phase of Aswesuma payments to 1.5 mn families

The government has begun the first phase of payments to 1.5 million families under the Aswesuma welfare scheme. A total of Rs. 4.395 billion....

Govt. to purchase LP gas for Litro under existing contract to avoid impact on restructuring

The Cabinet of Ministers has decided to purchase LP gas for Litro Gas Lanka Company under the existing contract with the current supplier....

Toyota halts all Japan assembly plants due to glitch

Japanese motor industry giant Toyota has suspended operations at all of its assembly plants in its home country due to a glitch in its production system. The move has brought domestic production....

UN warns thousands trafficked into online crime in Southeast Asia

Hundreds of thousands of people are being coerced in Southeast Asia by criminal gangs into carrying out online scams, often under the threat of torture, the United Nations said yesterday. Many have....

Sri Lanka to make obtaining visas easier for visitors

Sri Lanka is planning to simplify the country’s visa issuance methodology to make it easier for tourists and businesses to visit the country. The Cabinet of Ministers this week....

Drought dents Sri Lanka’s economic hopes, farmers’ livelihood

H.J.M. Seneviratne, 63, slices through yellowed paddy stems dried out by a drought that has destroyed over 95 percent of his crop and is threatening crisis-hit Sri Lanka’s summer rice....

Govt. to purchase LP gas for Litro under existing contract to avoid impact on restructuring

The Cabinet of Ministers has decided to purchase LP gas for Litro Gas Lanka Company under the existing contract with the current supplier for the period 2024-2025. Government believes ....