Prez calls on for more financial support at UNGA

President Gotabaya Rajapaksa yesterday called on the member countries of the United Nations (UN) and international agencies to further increase their assistance towards developing nations so they are able to fully come out of the crisis brought about by the Covid-19 pandemic.

Export earnings top billion dollars for third consecutive month in August

Sri Lanka’s merchandise export earnings topped a billion dollars for the third consecutive month in August, with almost all the major export categories performing well despite the pandemic-induced restrictions, the Export Development Board (EDB) said in a statement.

Cabinet nod to float fresh tenders to develop Port of Galle as PPP project

The Ports Ministry secured the Cabinet nod this week to float fresh tenders to develop the Port of Galle as a public-private partnership project, at an estimated cost of US $ 175 million.

Govt. to borrow additional Rs.400bn for deficit financing

The Cabinet of Ministers this week cleared a request to increase the government’s credit limit by further Rs.400 billion to Rs.3.39 trillion for 2021, under Appropriation Act No. 7 of 2020, to meet the pandemic-related additional expenditure requirements amid the declining state revenue.

Govt. to buy essential commodities for Sathosa from selected suppliers

The Cabinet of Ministers this week cleared the path for the Trade Ministry to enter into foreign exchange agreements with selected suppliers, to procure essential consumer commodities for Lanka Sathosa Limited, under fixed prices, within the next three months.

SL to obtain US $ 100mn supplementary loan from WB to procure COVID-19 vaccines

The government plans to obtain a US $ 100 million supplementary loan facility from the World Bank to procure 14 million doses of the Pfizer COVID-19 vaccine and to finance the other costs related to vaccination.

CB sets record straight on appointing new Monetary Board Secretary

The Central Bank this week defended the appointment of Assistant Governor J.P.R. Karunaratne as the new Secretary to the Monetary Board, replacing Assistant Governor K.M.A.N. Daulagala, with effect from the 15th of this month, claiming the move as the standard practice.

National inflation eases in August but not enough to ease concerns on higher prices

Sri Lanka’s national prices eased in August on both food and non-food prices but the level of decline isn’t enough to assuage concerns over the exorbitant prices daily confronted by the people on everything, from food staples to durables to other high-ticket value goods and services.

Laksala to attract overseas buyers through Sala Global partnership

Having witnessed the destitute situation of the artisans and the craftsmen in the country due to the present Covid pandemic, Sala Global (Pvt) Ltd have joined hands with Laksala to take their products through their showrooms and using their IT knowledge.

Continuing with unconventional policy package could have adverse effects on economy: Dr. Wignaraja

The unconventional policy package adopted by the government to ease the pressures stemming from the pandemic did help Sri Lanka rid some problems but continuing to impose such measures could have adverse effects on the economy and even hamper growth, cautioned a senior economist, yesterday.

CMA Sri Lanka webinar on Finance Act today

The Conference and Seminars Committee and the Taxation Committee of the Institute of Certified Management Accountants of Sri Lanka (CMA) will conduct another knowledge sharing Continuing Professional Development virtual webinar on Finance Act No. 18 of 2021 - (Granting Tax Amnesties) today from 6.00 p.m. – 8.00 p.m. via online zoom platform.

GSER 2021 features Sri Lanka’s startup ecosystem with key insights

The global innovation policy advisory & research firm Startup Genome has launched the 2021 edition of the Global Startup Ecosystem report (GSER), in which Sri Lanka’s startup ecosystem was featured along with key insights and its way forward after working closely with the ICT Agency of Sri Lanka as a country validating study.

Agripreneurs’ Forum expresses grave concerns over contaminated samples of imported organic fertilizer

Sri Lanka Agripreneurs’ Forum (SLAF) yesterday expressed grave concerns over the importation of a batch of contaminated organic fertilizer to the country.

NCE highlights need to develop and sustain US market for our coconut based products

The National Chamber of Exporters of Sri Lanka, addressing numerous issues faced by its members, instigated a series of webinars under the theme ‘Grow Beyond Traditional Markets’ in collaboration with Sri Lankan foreign missions overseas.

Watawala Plantations reaffirms persistent drive towards sustainable agriculture

Affirming their deep-rooted commitment to sustainability, Sri Lanka’s leading diversified agribusiness company Watawala Plantations PLC (WPL) is strongly pushing for change within the industry with strong efforts to promote encourage sustainable agriculture practices.

Hayleys Plantations’ KVPL secures world’s first Sustainability Framework Certificate

Kelani Valley Plantations PLC (KVPL), a member of the Hayleys Plantations sector, set a new global benchmark for the plantations industry, as all ten of its rubber estates received the world’s first Sustainability Framework Certificates from Preferred by Nature, an international non-profit organisation that supports better land management and business practices with a focus on sustainability, nature and the climate.

Speaker endorses certificate on SEC Bill

Speaker Mahinda Yapa Abeywardena endorsed his certificate on the Securities and Exchange Commission of Sri Lanka Bill yesterday.

Worker remittances fall for third consecutive month in August

Remittance income from Sri Lankan migrant workers slumped for the third consecutive month in August, extending the year-on-year decline set off in June this year, a trend which is partly associated with the levelling off of the pace of growth continued for little over a year, and the re-emergence of grey market operations.

Renewable energy firms with overseas operations poised to get windfall from rupee depreciation

The local renewable energy players with an expansive overseas portfolio are likely to do well in the future due to the growing demand for sustainable energy as the world is coming together to gradually end its reliance on fossil fuel powered energy on growing concerns about climate change and global warming.

China Evergrande’s rising default risks shift focus to possible Beijing rescue

Persistent default fears eclipsed efforts by China Evergrande Group’s Chairman to lift confidence in the embattled firm yesterday, as Beijing showed no signs it would intervene to stem any domino effects across the global economy.

Lankem applies to SEC to revise offer price for ACME

Lankem Ceylon PLC last Friday filed a mandatory offer to acquire the remaining ordinary voting shares of ACME Printing & Packaging PLC (ACME) following the acquisition of 19.43 percent stake by its associate, E.B. Creasy & Company PLC early this month.

Maldives on track to reach 1.3mn tourist arrivals for 2021

The Maldives continues to remain successful in attracting travellers despite the pandemic and has welcomed over 800,000 tourists since the start of

Tourism sector continues to lobby for interest waiver on moratorium period

Sri Lanka’s tourism sector, which is harshly battered by pandemic-induced travel restrictions and border closures, has renewed its calls to authorities to write off the interest component accrued during the period of the loan moratorium, which was extended through June 2022 last week.

Sri Lanka’s Exterminators to franchise globally

The Exterminators (Pvt.) Ltd, Sri Lanka’s premier environmental enhancement solutions provider, announced that the company would franchise its specialised services nationally and internationally.

Sivashanth Sundararajee joins CT as COO/Executive Director

CT CLSA Securities Services announced the appointment of Sivashanth Sundararajee as its Chief Operating Officer/Executive Director, with effect from August 27, 2021.

BDO and IDF in strategic initiative towards manufacturing economy

The Industry Development Forum (IDF) was incorporated in 2020 for the purpose of promoting, supporting and stimulating sustainable and successful business growth. The IDF intends to accomplish this by positively affecting the local business environment through providing training, advisory support and excellent networking opportunities.

WindForce wins Fastest Growing Renewable Energy Company in SL title at GBO Awards

WindForce PLC has won the award for the Fastest Growing Renewable Energy Company in Sri Lanka, at the Global Business Outlook (GBO) Awards for 2021.

Property prices in SL remain stable in 2Q despite COVID waves: LankaPropertyWeb

A recent study on the House Price Index developed by LankaPropertyWeb, which is based on the asking prices of its listings, revealed that the overall residential land prices (per perch) had soared by 44.19 percent from 2Q 2020 to 2Q 2021.

Havelock City opens new outdoor Play Area

With the completion of Havelock City’s fourth and final phase, the development recently opened a new Roof Garden Play Area, with basketball and badminton courts and a multi-purpose playground for mini football, roller skating, skateboarding or any other sport, giving ample space for children of all ages to play and engage in healthy outdoor games.

Prime Group roars ahead on LMD’s Most Respected Entities listing again

Affirming its indelible reputation as the country’s premier and largest diversified property development conglomerate, Prime Group was lauded among LMDs Most Respected Entities in 2021.