DFCC wins Gold at National Convention on Quality and Productivity Awards

DFCC Leasing, part of DFCC Bank, was recently recognised with a Gold award for its Process Improvement Lean Six Sigma Project, at National Convention on Quality and Productivity Awards 2022...

CB Governor addresses IASL Executive Committee

Central Bank Governor Dr. P. Nandalal Weerasinghe was recently invited to share his thoughts on the economy and its impact on the insurance industry, at the Executive Committee of the Insurance Association....

HNBF opens Gold Loan Unit at Norochcholai branch

HNB FINANCE PLC (HNBF) recently launched a new Gold Loan Unit at its Norochcholai branch, located on Kalpitiya Road, Norochcholai. The launch event was....

Child labour on the rise for first time in 20 years: ILO

For the first time in 20 years, child labour is on the rise, the International Labour Organisation (ILO) shared.

Sustainable Fitch launches ESG Regulations and Reporting Standards Tracker

Sustainable Fitch, a Fitch Solutions Company, recently launched the ESG Regulations and Reporting Standards Tracker, an effort towards bringing clarity on the fast-evolving ESG regulatory environment.

Over 22k tourist arrivals in June first week

Sri Lanka welcomed a total of 22,200 international visitors for the first eight days of June, maintaining a tourist inflow momentum similar to that of May.

Industrial production extends declining trend to April

Sri Lanka’s industrial production extended its declining trend to April, with most of the manufacturing segments remaining weak, on the back of softening global demand, seasonal patterns and lingering domestic conditions.

Sri Lanka will record positive economic growth in 4Q: Siyambalapitiya`

Despite various negative projections by multilateral agencies and even by the country’s Central Bank, Sri Lanka would record positive economic growth in the final quarter of this year, Finance State Minister Ranjith Siyambalapiriya said.

Jetwing chief recommends showcasing SL’s iconic resorts to lure high-end travellers

Tourism industry veteran and Jetwing Symphony PLC Chairman Hiran Cooray urged the authorities and industry stakeholders to ensure a strategy in place to target high yielding tourists in the proposed global communication campaign, by showcasing Sri Lanka’s iconic resorts along with the experiences.

Radisson to manage Galadari Hotel Colombo after facelift

Galadari Hotels Lanka PLC intends to rope in multinational hospitality management company Radisson Hotels Asia Pacific Investments Pte. Ltd to manage Galadari Hotel Colombo, under the name ‘Radisson Blu Hotel Galadari Colombo’, an Extraordinary General Meeting circular to the company’s shareholders said.

George Soros hands reins of US $ 25bn empire to son Alex

BBC: US billionaire philanthropist George Soros has handed over the running of his US $ 25 billion (£19.9 billion) financial and charitable empire to his son Alex.

Ceylon Chamber, ILO organise SPARK to support next generation of entrepreneurs

The Ceylon Chamber of Commerce, in collaboration with the International Labour Organisation (ILO), has announced the launch of SPARK – a national youth entrepreneurship competition for Sri Lanka’s next generation of entrepreneurs.

Local plantation sector to see growth in 2Q despite labour issues: RIUNIT report

Research firm Research Intelligence Unit says the plantation companies remain optimistic about the revoking of the ban imposed on the usage of chemical fertiliser and see it as the ex-factor for a production boost in 2023, as compared with 2022.

Silicon Valley escalates battle over returning to office

Three years after Silicon Valley companies led the charge for embracing remote work in the early days of the pandemic, the tech industry is now escalating the fight to bring employees back into the office -— and igniting tensions with staff in the process.

Has Sri Lanka’s crisis-driven import controls incentivised import substitution?

In response to the economic crisis, Sri Lanka implemented import controls that expanded significantly by the end of 2022, accounting for approximately 30 percent of the country’s total import value (Figure 1). The controls affected various categories, including consumption goods (46 percent), intermediate goods (31 percent) and capital goods (24 percent). As Sri Lanka gradually eases these controls, questions arise about the necessity of this str

Soorya’s incense sticks ignite Sri Lanka’s love for cinema with the Guththila movie

Soorya incense sticks, a trusted and familiar household brand of Sun Match Company, with its captivating fragrances have embarked on a cinematic journey, kindling a deep connection that perfectly complements the timeless G

Cabinet to take final call on SLT privatisation

The final decision on the privatisation of Sri Lanka Telecom PLC (SLT) will be taken during an upcoming meeting of Cabinet of Ministers, the President’s Media.....

President highlights need to increase salaries of tourism industry workers to retain talent

Sri Lanka’s tourism sector should look to improve the pay scale of its workforce so that the talent pool can be retained to uplift the industry.....

Easing of import controls signals country ready for business: Semasinghe

State Minister of Finance Shehan Semasinghe said government lifting the import restrictions on 286 items will send a Shehan Semasinghe....

Govt. lifts import restrictions on 286 products

Import restrictions on 286 products were lifted from Friday (9th) night, the Finance Ministry said in a brief statement as Sri Lanka slowly comes....

India considering SL’s request for soft loan to extend Palali airport runway

India is actively considering providing assistance to extend the runway at Palali airport, a statement from Ministry of Ports and Aviation said. Ports

SL receives US$ 479mn from migrant workers in May

Remittance income has continued to show strength so far in 2023 after authorities managed to restore stability in the domestic foreign exchange....

Govt. confident of fulfilling all IMF commitments by September

State Finance Minister Ranjith Siyambalapitiya said Sri Lanka will fulfil all the agreement with the International Monetary Fund....

Facebook owner Meta plans to create Twitter rival

Meta has shown staff plans for a text-based social network designed to compete with Twitter, sources have told the BBC. It could allow ...

Fitch upgrades Kotagala Plantations to ‘B+(lka)’; Outlook Negative

Fitch Ratings has upgraded Kotagala Plantations PLC’s National Long-Term Rating to ‘B+(lka)’, from ‘RD(lka)’. The Outlook is Negative. Fitch has simultaneously upgraded the National Long-Term Rating of Kotagala’s...

Vidullanka commissions 2MW ground mounted solar power plant in Horana

Vidullanka PLC last Friday officially commissioned a 2MW ground mounted solar plant in Horana through its fully owned subsidiary Horana Solar Power (Pvt) Ltd, the company announced in a stock....

IMF expects ‘continued tangible progress’ from global sovereign debt roundtable

The International Monetary Fund (IMF) last week said it expects the global sovereign debt roundtable to make “tangible” progress toward quicker debt restructurings for heavily indebted countries during....

UGC and World Bank collaborate to promote higher education development in South Asia

The University Grants Commission (UGC) of Sri Lanka and the World Bank have joined forces to advance higher education operations in the South Asia Region (SAR).

SLT-Mobitel Enterprise becomes SriLankan’s Total Communication Solution Provider

SLT- Mobitel Enterprise, the National ICT Solutions Provider, dedicated in their service to delivering best-in-class technology for the enterprise segment has signed a bilateral agreement with SriLankan Airlines...

Cargills conducts capacity building training programme for Lak Bojun female entrepreneurs

Cargills in collaboration with the Ministry of Agriculture’s ‘Hela Bojun’ programme is empowering women entrepreneurs through the ‘Cargills Lak Bojun’ initiative. This programme aims to create sustainable...