West Container Terminal BOT agreement with Indian port operator Adani inked

First phase of the project to be completed within 24 months; balance within a period of further 24 months

Thilanga Sumathipala appointed Asia Capital Chairman

Asia Capital PLC, at its Board Meeting held yesterday, unanimously appointed a new Director Board led by business leader Thilanga Sumathipala, who was former parliamentarian and Deputy Speaker.

Shares post best quarterly show in 11 years

Sri Lankan shares recorded their best quarter since September 2010, with the main index closing at a record high yesterday, as massive liquidity due to the low interest-rate environment and strong retail participation boosted stocks.

LCB Finance’s Rs.500 million IPO expected within this month

Non-bank financial institution (NBFI), LCB Finance plans to open its Rs.500 million Initial Public Offering (IPO) on the Colombo Stock Exchange (CSE) within this month, offering 15.82 percent stake or 125 million shares, at Rs.4.00 each.

T-bill yields jump for second week in a row signalling higher borrowing costs

Sri Lanka’s Treasury bill rates at the primary auctions held this week rose across all maturities for the second consecutive week since the lifting of yield controls by the Central Bank, indicating that yields haven’t ended its upward movement, while signalling that the trend could spill into the rest of the market interest rates.

Tea traders fear loss of global market share

The decision taken by the government to ban the use of chemical fertilizer and agrochemicals is a grave concern to the tea industry as the stakeholders have begun to feel the brunt of the move, tea traders said.

Govt. urged to come to senses on fertilizer ban

The government will have to come to its senses with regard the ban on chemical fertilizers as the current decision is more detrimental to the economy than the supposed negative implications arising from the usage of such fertilizers, Sri Lanka’s planters said.

SLASSCOM embarks on yet another value driven venture, with the launch of the SLASSCOM Academy

Sri Lanka Association for Software Services Companies (SLASSCOM) has long been a proponent of the continual development of Sri Lanka’s IT/BPM industry. With a view to realize their vision of establishing 1,000 start-ups, the facilitation of 200,000 more employment opportunities and accelerating the growth of the country’s IT/ BPM industry to support an export-based ecosystem worth USD 5 billion, SLASSCOM has keenly initiated a number of developme

CAL further cements its reputation as a preferred employer with ‘Great Place to Work’ certification

Sri Lanka’s leading Investment Bank offering integrated capital market and investment solutions, Capital Alliance Holdings (CAL), has been certified as a ‘Great Place to Work’ in an independent and anonymous survey conducted by Great Place to Work®.

ASUS “Expert Series” laptop and desktop models provide business and professional users powerful choices

ASUS unveiled three new laptops and desktop models in Sri Lanka designed to meet the need of business and professional users in the country.

Life insurance drives overall industry growth in first half

Sri Lanka’s insurance industry did well through the first six months in 2021 (1H21), led by the life insurance sector, continuing the momentum it gained in 2020, when the pandemic and its resulting health and monetary policy conditions augured favourably with the industry.

SL nears enacting Cybersecurity Bill as country gets more digitally connected

As more people, institutions and the government increasingly embrace and adopt digital connectivity in their day-to-day functions as never before, the authorities are bringing new laws to protect users from potential cybersecurity risks and crimes, a key area Sri Lanka currently lags far behind.

Joint procurement of LPG via Siyolit to go ahead

The government plans to move ahead with the joint procurement of the required LP gas (LPG) supplies to the country through the newly-formed special purpose vehicle (SPV), Siyolit (Pvt.) Ltd.

Cabraal’s six-month road map for stability to be unveiled tomorrow

Newly-appointed Central Bank Governor Ajith Niard Cabraal will unveil ‘The Six-Month Road Map for Ensuring Macroeconomic and Financial System Stability’, on Friday, October 01, 2021.

Aruni Goonetilleke appointed as HNB Chairperson

Following the demise of Hatton National Bank PLC (HNB) Chairman Nilantha De Silva, the bank yesterday announced the appointment of banking veteran Aruni Goonetilleke as the new Chairperson, who was appointed to HNB’s board as a Non-Executive, Non-Independent Director on April 1, 2021.

Shares close at all-time high on consumer stocks boost

Sri Lankan shares closed at a record high yesterday, marking a positive finish for a sixth straight session, as consumer staple stocks boosted the benchmark index.

Dullas opposes move to hand over Sri Lanka’s LNG supply monopoly to US-based New Fortress Energy

Expressing his opinion on the move by the government to give away exclusive LNG supply rights to US-based New Fortress Energy (NFE), Co-Cabinet Spokesperson and Mass Media Minister Dullas Alahapperuma, who earlier served as the Power Minister, this week publicly opposed any moves leading to a monopoly in LNG supply to the country.

Tourism stakeholders welcome easing of rules on vaccinated tourists

The tourism sector stakeholders this week let out a sigh of relief as they welcomed the government’s move to relax COVID-19-related health guidelines to support the hard-hit industry.

Sri Lanka Tourism recognizes significant role played by foreign missions to promote tourism activities

Sri Lanka Tourism recognizing the significant role played by Sri Lankan Foreign Service representatives has collaborated with missions on initiatives in key source markets as well as in emerging markets to boost tourism exports and attract tourism investment.

Hayleys Travels partners with AHK Sri Lanka to promote sustainable tourism

Hayleys Travels, the travel and leisure arm of Hayleys PLC, has formalised a partnership with the Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) to promote sustainable tourism and leverage on synergistic opportunities in the tourism sector.

Sakurai Aviation Academy produces youngest female private pilot license holder

Breaking all the stereotypes and barriers related to aviation training in Sri Lanka, Sakurai Aviation Academy has produced the Youngest Female Private Pilot License (PPL) Holder at the age of 17.

Heritance Aarah celebrates local culture with curated Maldivian village experience

All-inclusive luxury resort Heritance Aarah, in the Maldives recently launched a unique village experience to celebrate the illustrious culture and heritage of the island nation, right in the heart of the breathtaking Raa Atoll. This is the first of its kind in the Maldives.

CBL Natural Foods in top 100 Best Workplaces in Asia

CBL Natural Foods (Pvt) Ltd was placed among the top 100 Best Workplaces in Asia List in the Small and Medium category by Great Place to Work, a global authority leading in evaluating the employee experience and workplace culture.

Swedish tech company pioneers equal parental leave in Sri Lanka with 4 months paid leave

Understanding the importance of fathers playing a key role in the family after a newborn or newly adopted child, software development company Ascentic with offices in Sweden recently made history in Sri Lanka’s corporate sector by introducing a four-month paternity leave to its employees.

CA Sri Lanka and CFA Society organize virtual discussion on effectiveness of independent directors in good governance

Independent directors have a fundamental role in ensuring good governance continues to be prevalent across organisations.

Classic Travel ranked one of 2021 Best Workplaces in Asia

Classic Travel is proud to be ranked in the 2021 Great Place to Work list as one of the Best Workplaces in Asia– Small & Medium Workplaces.

How HCL’s employee-led culture drives innovation and empowerment

India and Sri Lanka have a long history together. This relationship has grown over the years with collaboration and cooperation in the field of development, education, culture, health and now Information Technology.

Govt. indicates safe re-opening of country remains priority

Safe re-opening of the economy from lockdowns is imperative for Sri Lanka to push through its recovery after the country was emerging out of the pandemic induced recession in 2020 which left large slacks in many areas and sectors, awaiting to be regained and recovered to their full capacities, according to new Central Bank Governor Ajith Nivard Cabraal.

Exporters remain increasingly reluctant to repatriate and convert earnings: CB

Despite the requirement on 100 percent repatriation of export proceeds, exporters in an alarming trend have become more reluctant to convert export earnings driven by speculation on exchange rate movements and low rupee interest rates.

Sri Lanka’s apparel industry on tenterhooks over EU trade scrutiny

Sri Lanka’s preferential trade access to the European Union, which is the biggest market for its US$ 5 billion apparel industry, is in doubt with an investigation into the island country’s human rights and governance concerns set to start on Monday.