Würth Group celebrates 2022 success with CMTA expo 

Würth Lanka recently celebrated Würth Groups’ success globally during the year 2022 and the visit of group’s Senior Vice President Asia Region Christian Olsen, with Ceylon Motor Traders Association’s (CMTA) expo.

HNB and Lanka Ashok Leyland offer exclusive leasing for DOST trucks

HNB PLC renewed its partnership with the nation’s leading Heavy Commercial Vehicle supplier, Lanka Ashok Leyland PLC (LAL), to provide customers a range of exclusive benefits and special interest rates for Lanka Ashok Leyland commercial vehicles.

SLT-Mobitel introduces ‘MYFIRST Connection’

Empowering students to expand their knowledge in the digital world, SLT-Mobitel launched ‘MYFIRST Connection’, the first ever total communication solution to fulfil the ever-growing connectivity demands of students.

International tourism on track towards recovery: UNWTO Barometer

International tourism, which was severely crippled due to implications stemming from the Covid-19 pandemic, is well on its way to recovery, the latest UNWTO World Tourism barometer revealed.

Govt. to amend laws to prevent coconut land fragmentation

The Cabinet nod has been granted to amend the Tea, Rubber and Coconut Estate (Control of Fragmentation) Act in order to restrict fragmentation of coconut lands above one acre. Minister of Plantation Industries Ramesh Pathirana on Monday sought the approval of the Cabinet of Ministers to initiate measures to limit land fragmentation by allowing only coconut lands of one acre or less to be fragmented.

Proposed Public Financial Management Act set to come into effect with 2025 budget

In a bid to bring in much needed fiscal discipline, the Government will introduce a new Public Financial Management Act (FMA) equipped with binding fiscal rules, which is set to come into effect with the budget 2025.

New laws to be introduced for development of technology innovations and research in Sri Lanka

Technology State Minister Kanaka Herath revealed plans to introduce a new act shortly while speaking to the media after joining an observation tour of Vega Innovation Company, located in Maradana Trace Complex.

May first week records lowest weekly tourist arrivals so far this year

The first week of May recorded the lowest weekly tourist arrivals since January 2023 with only 18,401 international visitors having entered destination Sri Lanka.

India extends US$ 1bn credit line for Sri Lanka by one year

India has extended a US$ 1 billion credit line for Sri Lanka by one year, a Reuters news report said quoting a Finance Ministry official. India has....

Govt. owned stake of SLT will not be sold until June 15: Treasury Secretary

The Treasury Secretary yesterday gave an undertaking before the Supreme Court that the government owned shares of Sri Lanka Telecom....

Six banks slapped with penalties worth Rs.5.5mn

Administrative penalties worth Rs.5.5 have been imposed by the Financial Intelligence Unit (FIU) on six Sri Lankan banks for non-compliance...

Lufthansa Technik secures contract to repair three SriLankan Airlines’ aircraft

Lufthansa Technik AG, a subsidiary of Germany’s Lufthansa Group, has secured a contract to repair three CFM Leap-1A category aircraft....

Apparel exports could drop by US$1 bn this year: JAAF

Sri Lanka’s apparel export earnings could slump by US$1 billion this year as a result of demand slowdown in key export markets....

Indices close on a mixed note

The ASPI closed in red as a result of price losses in counters such as Hatton National Bank, Vallibel One and Tokyo Cement Company....

Huawei announces switch to MetaERP, redefining enterprises’ core business systems

Huawei announced that it has replaced the legacy ERP system with its MetaERP system over which it has full control. Huawei recently....

SLRA appoints new President and Executive Council at 6th AGM

The Sri Lanka Retailer’s Association (SLRA) held its sixth Annual General Meeting (AGM) in Colombo recently, at Hilton Residencies. The event....

CIPM National HR Conference 2023 in June

The Chartered Institute of Personnel Management (CIPM) Sri Lanka has announced National HR Conference 2023 to be conducted...

SLID launches IT Governance Masterclass for Board Directors

Sri Lanka Survey Report on Board IT Governance – 2022, jointly carried out by the Sri Lanka Institute of Directors (SLID) and EY Sri Lanka....

Samsung offers genuine warranty and TRCSL-approved devices through authorised partners

Samsung, Sri Lanka’s No. 1 smartphone brand, reiterates that its partners Softlogic, John Keells Automation, Singer, Singhagiri, Damro....

Microsoft empowers new era of work in Sri Lanka with secure technology

Microsoft Sri Lanka recently concluded a customer event on technology for managing hybrid workforces. The event showcased....

SL to tap World Bank for US$ 200mn loan to strengthen social safety net

The Cabinet green-light has been granted to borrow US$ 200 million from World Bank (WB) under the proposed social security project, which aims to establish a sustainable social protection system with a mechanism in place to provide direct cash transfers to most vulnerable and poor communities.

Sri Lanka to apply for GI for Ceylon Tea from EU this September

Sri Lanka plans to formally apply for Geographical Indication (GI) for Ceylon Tea from the European Union (EU) this September, with intentions to replicate the same move in other key markets of Ceylon Tea subsequently.

Apparel exports could drop by US $ 1bn this year: JAAF

Sri Lanka’s apparel export earnings could slump by US $ 1 billion this year as a result of the demand slowdown in key export markets amid rising inflation and higher interest rates, a Reuters news report said quoting a top official of the Joint Apparel Association Forum (JAAF).

Ceylon Chamber appoints Buwanekabahu as new CEO

The Ceylon Chamber of Commerce yesterday announced the appointment of Buwanekabahu Perera as its new Secretary General/Chief Executive Officer, effective May 8, 2023.

FitsAir soars to new heights with 50,000 passengers

FitsAir, Sri Lanka’s first privately owned international airline, yesterday said it had reached an important milestone by flying more than 50,000 passengers to and from Bandaranayake International Airport since its launch just six months ago.

Browns Investments set to get control of over 27,000 acres of tea plantation in Kenya following Finlays deal

Following the acquisition of James Finlay Kenya Limited (JFK), Browns Investments PLC is set to get the control of over 27,000 acres of tea planation, along with timber reserves in Kenya, the world’s largest black tea exporter.

Janet Yellen warns of debt ceiling ‘catastrophe’

BBC: US Treasury Secretary Janet Yellen has warned a failure to raise the US’ debt ceiling could have dire consequences.

Stronger disagreement observed on equality of opportunity, SL Barometer 2021 reveals

Sri Lankans are leaning towards stronger disagreement regarding equality of opportunity, the findings of the latest Sri Lanka Barometer revealed, indicating that more needs to be done to address the causes of conflict and discrimination since the end of the war.

SEC suspends Dinal Wijemanne’s registered stockbroker status amid pending legal action

Capital market regulator, the Securities Exchange Commission (SEC), has issued a directive suspending former Taprobane Securities (Pvt.) Ltd CEO Dinal Wijemanne from functioning as a key management person and taking part in any activities involving clients as a registered stockbroker, amid the pending legal proceedings on his alleged involvement in share price manipulation of Ceylon Grain Elevators PLC (GRAN), during the 2010-2011 period.

Rubber sector continues to struggle with low yields

The rubber sector woes persisted in the month of April, with the industry continuing to deal with low yields.