On-arrival PCR testing for tourists back at hotels

Sri Lanka will return to its previous system of carrying out the on-arrival PCR test at level –1 hotels, as the attempt to test tourists for COVID-19 at the airport premises itself failed to bring out the expected outcome.

Cabinet nod to ban 20 new occupations including domestic services for minors

The Cabinet nod has been granted to add twenty new occupations including domestic services and jobs related to beauty culture to the list of hazardous jobs for minors (16-18 years) and to present the draft regulations to Parliament.

SL to set up National Road Safety Commission to reduce road accidents by 50%

As the country targets to reduce road accidents by 50 percent in five years under a new action plan, the government plans to complete the establishment of a National Road Safety Commission (NRSC) as the lead road safety authority within this year in order to facilitate smooth implementation of the action plan.

FinMin asked to provide US$ 50mn to clear over 800 containers stuck in port

Prime Minister Mahinda Rajapaksa has advised the Finance Ministry to provide US$ 50 million immediately to shippers to get over 800 containers stuck in the Colombo Port released.

Government rolls back price controls on rice

The government this week decided to remove maximum retail prices (MRPs) imposed on rice with immediate effect and to import 100,000 metric tonnes of rice to address rice shortages in the market indicating a failure in price control measures.

Sri Lanka Retail Forum to discuss ways to cater post-pandemic consumer

‘Catering to the Post-Pandemic Consumer’, the first session at the upcoming Sri Lanka Retailers Forum 2021 will focus on customer value as online / digital platforms become a core part of the business while exploring the role played by digital shifts in the customer journey.

Request made for private healthcare sector involvement in BIA PCR testing

While congratulating the government on the recent opening of the PCR testing facility at the Bandaranaike International Airport (BIA), private hospitals made an appeal to the government to consider local partners for initiatives such as this, taking in to consideration the expertise already available in Sri Lanka.

CFA Society Sri Lanka kicks off local round of CFA Institute Global Research Challenge 2022

CFA Society Sri Lanka will host the local leg of the CFA Institute Global Research Challenge scheduled to kick off on October 14th.

Venture Engine returns for its tenth year

Sri Lanka’s pioneering startup acceleration programme Venture Engine has launched its 2021 edition, with applications now open until midnight on October 22nd.

Access partners Moraturwa Uni. to introduce Fibre Optic Monitoring Technology

Access Engineering PLC (AEL) has joined hands with the University of Moratuwa, supported by the Cambridge Centre for Smart Infrastructure and Construction (CSIC) of the University of Cambridge, and the University of Oxford to collaborate in the research project ‘Introduction of Fibre Optic Monitoring Technology to Sri Lanka’.

Amãna Bank announces Rs.260mn scrip dividend

Continuing its divided journey and having just concluded 10 years of operations, Amãna Bank recently announced its fourth consecutive annual dividend by offering its shareholders an interim scrip dividend of 10 cents per share for the financial year 2021.

New SEC Act: boon or bane?

A new Securities and Exchange Commission (SEC) Act was recently passed in Parliament and it was made law last week by the Speaker.

Seylan Bank’s Ruwanwella branch gets spacious new location

Seylan Bank, the Bank with a Heart, relocated its Ruwanwella branch to a spacious new location recently, in order to better serve its customers.

DFCC Bank partners Quickmed.lk to facilitate benefits for credit cardholders

DFCC Bank has announced its partnership with Quickmed.lk to ensure greater accessibility and affordability, with regard to the services offered by the health and wellness pharmacy, for all DFCC credit cardholders.

Ceylinco Life lays foundation for eco-friendly Matale branch

Ceylinco Life has laid the foundation for a new eco-friendly branch building in Matale that will be constructed to the planet-friendly specifications adopted for all-new branches on company-owned land, taking another step in the expansion of green practices in its operations.

HNB offers higher returns for foreign currencies with FC Advantage

In a bid to encourage foreign currency account holders to save in designated currencies, Sri Lanka’s most customer-centric private sector bank HNB PLC offered Foreign Currency Advantage (FC Advantage) savings account holders with higher returns.

GSP+ withdrawal: How would it impact Sri Lanka’s economy?

Sri Lanka’s preferential access to the vital European Union (EU) market faces fresh challenges after the European Parliament’s special resolution adopted in June 2021.

Fully vaccinated tourists free to explore SL without restrictions

Fully vaccinated tourists with a negative PCR result at the time of departure will be allowed to enter the country without the need for an on-arrival test from today.

MyMed’s MedExpert offers world-class expert guidance on cancer

Cancer diagnosis and treatment is a stressful and difficult event in life. Cancer treatment is complex and it must be taken care of by trusted professionals with confidence.

CBSL restores money changing licenses of entities failing to meet targets

The Central Bank (CBSL) today restored the licenses of several Money Changers who were unable to meet the targets due to issues stemming from the Covid-19 pandemic

Cabraal says firm no to IMF bailout, debt restructuring

Although a debt restructuring effort seems vital for Sri Lanka, as repeatedly called upon by some economic experts in the recent past, the government last week ruled out the need for such an endeavour, as it remains confident of honouring all its debt commitments on time.

Leading asset manager highlights why SL should avoid debt restructuring

A leading asset manager in the country yesterday urged the authorities to avoid a debt restricting exercise, which is being advocated by several economists as the only solution to the country’s debt problem exacerbated by a foreign exchange crisis.

E M L Consultants becomes first listed firm representing consultancy space on CSE

E M L Consultants Limited commenced trading on the Empower Board of the Colombo Stock Exchange (CSE) yesterday.

Shares see best one-day gain since March as financials surge

Sri Lankan shares closed over 3 percent higher yesterday, notching their biggest intraday gain since March, boosted by financial and industrial stocks.

Crude oil at 3-year high, Brent nears US $ 80 a barrel amid supply constraints

Oil prices rose for a fifth straight day yesterday with Brent at its highest since October 2018 and heading for US $ 80 amid supply concerns as demand picks up in parts of the world with the easing of pandemic restrictions.

G-Sec yields shift upwards across maturities after Central Bank lifted controls on bills

The yield curve, which plots the yields for government securities (G-Secs) at their each maturity, moved upwards last week, specially at the shorter end of the curve, after the Central Bank removed a price ceiling in place for months on treasury bills, in a signal the market should be bracing for higher market interest rates.

SL’s internet penetration tops 20mn people as pandemic upends lifestyles

As a rare positive outcome of the ongoing pandemic, nearly the entire population of Sri Lanka has now been connected to internet within a very short span of time, which otherwise would have taken years, as people sought online connectivity when their mobility was largely confined by the virus-related restrictions.

Bandula Egodage re-appointed as IASL Chairman for 2021/22

The Industrial Association of Sri Lanka (IASL) held its 30th Annual General Meeting recently on a virtual platform.

SLT-Mobitel and eChannelling power National Pharmacy Helpline

In commemoration of the National Pharmacist Day observed on September 24th 2021, SLT-Mobitel and eChannelling together with the Ministry of Health and Society of Government Pharmacists (SGP), launched the nation’s first National Pharmacy Helpline, reinforcing its commitment to improving healthcare facilities in the country during these unprecedented times.

CA Sri Lanka and CAPA to host biggest ever hybrid conferences next month

The 42nd National Conference of the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) and the 20th Conference of the Confederation of Asian and Pacific Accountants (CAPA) will raise the curtains on October 06th to unveil one of the biggest ever hybrid conferences to be hosted in Colombo, with the thought-provoking theme ‘Heritage: Many Businesses, One Planet.’