Govt. temporarily takes one step forward in agriculture after many backward steps

Ever since April 2021, Sri Lanka’s agriculture and plantation sectors have been beset by needless difficulties as a result of an announcement, seemingly made on a whim, that Sri Lanka would switch completely to organic agriculture – effective immediately.

President appoints Cabraal as CB Governor

President Gotabaya Rajapaksa has appointed Ajith Nivard Cabraal, who resigned from Parliament today, to the post of Governor of the Central Bank with effect from September 15, 2021.

Technical issues puts CSE market on halt again

Issues in internet connectivity led the Colombo Stock Exchange (CSE) to halt market operations today.

Data shows signs of front-loading of certain import goods up to July

There were signs of excessive imports of certain categories up to July this year, reflecting front-loading by a section of traders, a claim, which was repeatedly made by the Central Bank, while partly attributing it to the current undue pressure on the dollar-rupee exchange rate.

Foreign reserves up at US$ 3.5bn by end-August amid fresh inflows

Sri Lanka’s foreign currency reserve assets recouped in August after sinking to post-war low in July as the country took receipts of new foreign inflows to prop up its reserves which came under severe pressure from foreign debt repayments and higher imports.

BPPL Holdings only Lankan firm among Forbes 2021 ‘Best Under A Billion’ list

One of Southeast Asia’s largest brush manufacturers and Sri Lanka’s pioneer in recycled plastic products, BPPL Holdings PLC, has become the only Sri Lankan company to enter Forbes 2021 ‘Asia’s 200 Best Under a Billion’ list.

Realistic master plan for SL’s forest sector critical: WB

Developing an effective and realistic master plan to conserve Sri Lanka’s forest ecosystem is critical for the development of the island nation, the World Bank (WB) stressed recently, since preserving the forest sector is essential for the economy, especially as the government is on the lookout for avenues to rise above the pandemic.

WindForce to acquire rooftop solar company for Rs.265mn

WindForce PLC, the pioneers of renewable energy in Sri Lanka, is set to acquire Sky Solar (Pvt) Ltd owned by Sunshine Energy (Pvt) Ltd for a total consideration of Rs.265 million.

Eran lashes out at Cabraal’s imminent appointment as Central Bank Governor

While claiming the upcoming appointment of the current State Minister Ajith Nivard Cabraal as the Central Bank (CB) Governor as “totally unacceptable,” former State Minister of Finance and Opposition MP Eran Wickramaratne voiced grave concerns on Cabraal’s return to the CB on multiple grounds, which could potentially damage the image and credibility of the CB as an independent institution among bankers, commercial banks, international agencies an

EML Consultants to become second listed entity on CSE’s Empower Board

Sri Lanka’s top consultancy service provider, EML Consultants Limited is set to become the second listed entity on the Empower Board of the Colombo Stock Exchange (CSE), as it gears to list 90.9 million voting shares of the company by way of an Introduction in the final week of September.

Ambeon stays acquisitive after Rs.2bn gain from South Asia Textiles sale

Ambeon Holdings PLC remains acquisitive after the sale of its subsidiary, South Asia Textiles Limited to Hayleys Fabric PLC in April this year in a deal valued at little under Rs.4 billion as the diversified group is looking at consolidating its key business interests comprising of technology, financial services, and manufacturing of porcelain products.

NDB awarded as Most Innovative Digital Transformation – Sri Lanka 2021

During the recent past, NDB Bank has been rapidly growing its digital footprint, capturing the digital banking landscape faster than any local bank. Identifying the bank’s excellence in the digital arena, NDB has been crowned with the Most Innovative Digital Transformation – Sri Lanka 2021 award felicitated by the Cosmopolitan - The Daily a UK-based publication at the fourth Annual Cosmopolitan the Daily Business Awards 2021.

ComBank introduces banking services via Viber to Sri Lanka

Commercial Bank of Ceylon has become the first bank in the country to launch a facility that enables the bank’s account holders and non-customers alike to seamlessly enjoy real-time banking services delivered through an interactive artificial intelligence (AI) chatbot on Viber.

Seylan Bank partners with Superbox to facilitate a seamless shopping experience

Seylan Bank, the Bank with a Heart, announced an exclusive partnership with Superbox to provide a secure payment gateway service for its customers to carry out safe and secure transactions hassle-free.

DFCC Bank supports digital payment acceptance through LankaQR and VisaQR

DFCC Bank, the pioneer in commercial banking, has extended further support to delivery vendors by facilitating the acceptance of digital payments, through platforms such as LankaQR and VisaQR at Remarko Bakers Mobile Outlets.

MillenniumIT ESP gears for global expansion with new office in Singapore

MillenniumIT ESP, Sri Lanka’s leading enterprise solutions provider, kicked off its global expansion drive by incorporating a new office in Singapore, this year.

HatchX: SL’s most disruptive fintech accelerator is back bigger, better for 2021

Despite being in its infancy, Sri Lanka`s fintech industry has made great strides over the years and one of the biggest came last year with the launch of the country’s first-ever fintech accelerator programme.

Facebook-CSSL with Education Ministry to train Lankan youth on digital citizenship

Facebook has partnered with the Computer Society of Sri Lanka (CSSL) to launch a training programme for the Teacher Education Administrative Branch of Sri Lanka’s Ministry of Education.

Axiata Digital Labs announces first-ever ADL AI Summit

Axiata Digital Labs (ADL), Sri Lanka’s most innovative digital transformation enabler, announces the launch of its first-ever artificial intelligence (AI) and analytics event, the ADL AI Summit.

ITX360 is Great Place to Work certified for 2021

Information technology company ITX360 (Pvt.) Ltd has been awarded the Great Place to Work®2021 certification in recognition of its positive workplace culture and employee experiences.

SLT-Mobitel Mobile offers Triple Buddy nonstop data package

Understanding the rapid demand for data among the young and older generation in using popular social media platforms such as Facebook, WhatsApp and YouTube for education and entertainment, SLT-Mobitel Mobile launched ‘Triple Buddy’, an exciting new package designed to offer all the nonstop data you need to enjoy your favourite apps wherever you are.

Sunshine Holdings drives business value and transformation with Microsoft cloud services

Sunshine Holdings, a diversified holding company with interests in healthcare, agribusiness, fast-moving consumer goods and renewable energy, is driving business value and innovation with its new analytics platform based on Microsoft Azure technologies, which it uses to consolidate data and provide analytics across its group of companies.

Virtusa introduces highly demanded QA automation module to local universities

Virtusa Corporation recently introduced a quality assurance (QA) automation module at Horizon Campus, a leading private university in Sri Lanka, with plans to roll out the module across other local universities to address the growing skill demand for test automation experts.

Galle Face development work proceeds unhindered

Work on the Galle Face Green Development Project is continuing despite the quarantine curfew currently in force, as the officers of the Navy were seen busy at work at this oceanfront in Colombo.

CB Governor Lakshman to step down on Sept. 14

Central Bank Governor Prof. W.D. Lakshman yesterday formally announced that he is stepping down from the post prematurely, with effect from the 14th of this month.

Malaysia’s Top Glove says U.S. lifts import ban over forced labour

Malaysia’s Top Glove Corp said yesterday it has been allowed to resume sales to the United States, after customs authorities lifted a year-long ban imposed for alleged forced labour found at the world’s largest medical glove maker.

Ford to spend US $ 2bn to restructure operations and close plants in India

Ford Motor is ending vehicle production in India, shutting down its two large plants there and terminating thousands of employees, as CEO Jim Farley restructures the automaker’s operations as part of a turnaround plan.

JAAF says over 70% of apparel workforce has received both jabs

The Joint Apparel Association Forum (JAAF) yesterday said, as at September 9, over 90 percent of the workers at the factories have been vaccinated with one dose, with over 70 percent of the workforce receiving both doses.

Colombo Stock Exchange commences Executive Programme with University Canada West

The Executive Programme, launched by the Colombo Stock Exchange (CSE) and University Canada West (UCW), is set to commence on September 27, 2021.

Renewable energy sector poised to receive US $ 200mn inflows over next 6-8 months

Sri Lanka’s renewable energy sector is likely to see US $ 200 million worth of foreign inflows to the sector, through the banking sector over the next six to eight-month horizon, as the government moves to commit for 70 percent power generation through renewable energy sources by 2030.