Havelock City fourth and final phase ready for handover

The much-anticipated Havelock City Phase 4 luxury apartments, following the successful completion of construction are now move in ready having obtained the Certificate of Conformity (COC) from the Urban Development Authority (UDA).

Homelands Skyline announces Phase II adding another 400 apartments, villas

Homelands Skyline has announced the launch of Phase II of the Canterbury Golf Resort Apartments and Residency project, which is currently the largest residential development project in Sri Lanka consisting of 1200 residential units, spread across 55 acres in Piliyandala - Kahathuduwa.

Prime Group’s Chairman Premalal Brahmanage elected CDASL President

Prime Group’s Chairman Premalal Brahmanage has been appointed as the new President of the Condominium Developers Association – Sri Lanka (CDASL) for the year of 2021/2022.

Adani-JKH container terminal gets 25-year tax holiday

Under the Strategic Development Projects Act, the government has granted a 25-year tax holiday for the proposed West Container Terminal (WCT) at the Port of Colombo to be built by India’s Adani group with its local partner,

Tourist arrivals up for third consecutive month in July

Sri Lanka saw a pickup in the number of tourist arrivals for the month of July with 2,429 visitors coming in. The total number of visitors to the country for the first seven months was 19,337. Following the steep decline witnessed in April, the number of tourist arrivals is now on an upward trajectory. The numbers have increased, marginally, for the third consecutive month.

Govt. declares August 16 as National Logistics Day

The Cabinet of Ministers this week granted approval to declare August 16 as the National Logistics Day for the purpose of educating the public on the importance of efficient and effective management of supply chains and its impact on cost of living.

President’s office stresses no change to fertilizer policy; says only organic allowed for local agriculture

Oshada Senanayake appointed new ICTA Chairman

Oshada Senanayake has been appointed as the new Chairman of the Information and Communication Technology Agency (ICTA) of Sri Lanka.

Government mulls vehicle import permits for returning expat workers

The government would consider giving Sri Lankan expatriate workers a temporary facility to import a vehicle upon their return to Sri Lanka, State Minister of Finance, Money, Capital Markets and State Enterprise Resources Ajith Nivard Carbraal told Parliament yesterday.

Huawei to give fresh impetus to local start-up ecosystem

Startups in Sri Lanka will receive fresh impetus over the next three years with leading global provider of information and communications technology (ICT) infrastructure and smart devices, Huawei announcing its decision to focus on the island nation’s start-up hub.

Awarding supply of security stickers to Indian company challenged in Court

A writ petition has been filed in Court of Appeal seeking an order to quash awarding the supply of security stickers to an Indian security printing company by the Excise Department.

CA Sri Lanka launches Annual Report Awards 2021

The Chartered Accountants of Sri Lanka (CA Sri Lanka) announced this week the launch of the Annual Report Awards 2021 which will have the marking system automated due to the ongoing Covid-19 crisis in the country.

CMA webinar on ‘Inland Revenue (Amendment) Act’ today

The Taxation Committee of the Institute of Certified Management Accountants of Sri Lanka (CMA) will conduct a virtual webinar on ‘Highlights of Inland Revenue (Amendment) Act No. 10 of 2021’ today (August 5) from 6.00 p.m. – 8.00 p.m. via online

MA’S Kitchen’s Northern project wins UN Food Systems’ top award

North Lanka family foods (PVT) Ltd, a community investment in Pali, in Northern Sri Lanka by MA’S Tropical Food Processing (PVT) Ltd, has received the UN Food Systems Summit Best Small Business award.

UN SDG on gender equality and women empowerment unlikely to be fulfilled by SL: Study

Sri Lanka is unlikely to realize by 2030 the United Nations (UN) Sustainable Development Goal (SDG) on gender equality and women empowerment as lack of monitoring and accountability hinders the ability in moving in that direction although initiatives have been taken to realize the goal.

Agri and livestock sector innovations virtual exhibition on Aug. 10

The Ceylon Chamber of Commerce (CCC) and Accelerating Higher Education Expansion and Development (AHEAD) Operation will be jointly organising a virtual exhibition to promote agri and livestock sector innovations ready for commercialisation on August 10, 2021. Two similar virtual exhibitions were held to promote food in February 2021 and electric, electronic and IT sector in March 2021. Funded by the World Bank, AHEAD is supporting universities i

AIA ranked as # 45 in Best Workplaces Asia list

AIA Insurance is proud to be recognised in the Best Workplaces in Asia list - Large Category, making it the first time AIA Sri Lanka is recognised in this prestigious international list.

BOC celebrates 82nd anniversary on an austere note

Bank of Ceylon (BOC), the ‘Banker’s to the Nation’, completes 82 years of leading the Sri Lankan banking and finance landscape.

LCB Finance gears for CSE listing

Lanka Credit and Business Finance Limited (LCB Finance) is preparing for the next milestone in its journey by listing its shares on the Colombo Stock Exchange (CSE) through an Initial public offering (IPO).

People’s Bank refurbishes Polonnaruwa regional head office, Dehiattakandiya branch

People’s Bank recently refurbished its Polonnaruwa regional head office and Dehiattakandiya branch, which were reopened under the auspices of People’s Bank Chief Executive Officer/General Manager Ranjith Kodituwakku.

Amãna Bank completes 10 years of people-friendly banking

Amãna Bank, Sri Lanka’s one and only licensed commercial bank to fully operate on non-interest-based banking principles, has successfully completed 10 years of its people-friendly banking operations.

Vijitha Herath assumes duties as Sri Lanka Insurance Chairman

Renowned engineering professional Eng. Vijitha Herath assumed duties as Chairman of state-owned Sri Lanka Insurance, yesterday.

ComBank offers discounts up to 25% for ‘Anagi’, ‘Udara’ account holders at Nawaloka

Commercial Bank of Ceylon has joined hands with Nawaloka Hospitals PLC, Sri Lanka’s first premier multi-specialty hospital chain, to offer its ‘Anagi’ women’s savings account holders and ‘Udara’ senior citizens account holders discounts of up to 25 percent on selected treatments and health screening packages.

Swiss experts conduct knowledge-sharing session on organic agro ecosystem

A team of experts from Switzerland presently on a 10-day visit in the country conducted an experiential and insightful training session on organic agriculture and ecosystem, a need of the hour for Sri Lanka, as it bans chemical fertilisers and pesticides to make a transition from conventional to an organic approach.

From battlefield to paddy field – A green revolution with veterans

The Presidential Task Force for a Green Economy along with the Ranaviru Seva Authority that operates under the purview of the Defence Ministry has launched ‘Ranabimen Govibimata – Sarupase Peraliya’, a programme to empower the military community to produce organic fertilisers and related products.

Pelwatte Dairy records 148% increase in profits before tax surmounting COVID challenges

Pelwatte Dairy, one of the leading dairy brands in Sri Lanka that locally produces a range of dairy products and saves foreign exchange for the country, has made a significant financial turnaround in 2020/21 recording a huge profits before tax (PBT) that year-on-year (YoY) surged by 148 percent.

Govt. does U-turn; allows import of chemical fertiliser under licence regime

Further relaxing the import restrictions initially imposed on agrochemicals, the Finance Ministry has allowed the importation of several previously banned chemical fertilisers under an import control licence (ICL) regime for plant nutrients, with effect from July 31, 2021, with the issuance of a fresh gazette notification.

SLT continues to ride on pandemic-fuelled demand for data and other digital services

Providing a first glimpse of how the broader telecommunication sector fared when distant working and learning became the norm during most of the June quarter, Sri Lanka Telecom PLC (SLT) saw a further uptake in its services from data to voice to other digital solutions, in a reflection of how the virus continues to upend the way people interact, work, learn and seek entertainment.

Vision Care fully acquires Colombo Pharmacy land

Property management company Colombo City Holdings PLC yesterday said it disposed a 47.2 perch land plot and a building on it in Union Place, Colombo 2 to Vision Care Optical Services (Private) Limited, for a consideration of Rs.575 million.

IMF US $ 650bn reserves distribution clears last hurdle, takes effect on Aug. 23

The International Monetary Fund (IMF) said on Monday its board of governors approved a US $ 650 billion allocation of IMF Special Drawing Rights and said its largest-ever distribution of monetary reserves would become effective August 23.