Govt. borrowings up on liquidity injections and loans from banks

The borrowings by the government from the Central Bank as well as the licensed commercial banks rose again in December, after some slowdown seen in November, following the settling of a US $ 1 billion sovereign bond in October.

OPA objects to East Container Terminal deal

The Organisation of Professional Associations of Sri Lanka (OPA), the apex body of 52 professional associations in the country, covering 32 diverse professions, has requested President Gotabaya Rajapaksa in a letter to utilise local expertise and funds for the development of the East Container Terminal (ECT) of the Colombo Port.

Dr. Coomaraswamy appointed to Dialog Axiata board

Dr. Indrajit Coomaraswamy has been appointed as an Independent Non-Executive Director on the board of Dialog Axiata PLC, with effect from February 1, 2021.

Brush maker BPPL to make inroads into overseas markets defying pandemic

BPPL Holdings PLC, Sri Lanka’s largest brush ware maker and an exporter, ploughed ahead during the three months to December 2020 (3Q21), after experiencing some setbacks from the new restrictions stemming from the second wave of COVID-19, in early October.

Credit card spend down four months in a row

The decline observed in the credit card spend, as measured through the outstanding credit card balance, continued through November 2020, as spending options exhausted with the returning of restrictions on mobility and other leisure and entertainment activities.

Women entrepreneurs say improved regional integration essential to boost business

Women entrepreneurs in South Asia stressed the need for improved regional integration to support their businesses, so that the existing potential for cross-border trade can be realised in a more effective manner.

Stock market turnover hits highest since 2008; indices down

The Colombo Stock Exchange (CSE) recorded the second highest turnover yesterday in its history amid increased local investor activity, though both indices ended in red, due to price declines in several key counters.

Corporate Culture Evolves in the New Normal

The global pandemic has created havoc with businesses globally, with lockdowns and social distancing measures making it difficult for employees and employers to operate in a ‘business as usual’ manner. But herein lies the opportunity to reset the world of work now that many companies have mastered the art of having their employees work from home. Going ahead, organizations have a rare chance to recalibrate their culture to adopt more flexible wor

BOI, CSE and Ceylon Chamber in major foreign investment push

To feature eminent line-up of speakers, presenters and panellists including policy makers and business leaders The Board of Investment of Sri Lanka (BOI), Colombo Stock Exchange (CSE) and Ceylon Chamber of Commerce (CCC) are set to organise a first-of-its-kind virtual investment forum to collectively promote direct and equity investment opportunities in Sri Lanka on 6th 7th and 8th April 2021.

SL and China enter into MoU to deepen apparel trade ties

Apparel trade between Sri Lanka and China is slated to receive fresh boost with the two nations having entered into a Memorandum of Understanding (MoU) to uplift the sector that was severely impacted by the COVID-19 pandemic.

Cinnamon Life receives COC; on track for March handover

Sri Lanka’s largest mixed development, Cinnamon Life, announced another major milestone in its journey to completion with the securing of a Certificate of Conformity (COC) for the project’s office and ‘The Suites’ residential towers.

Increased air freight rates, biz recovery boost Expolanka 3Q

Elevated air freight rates and the gradual returning of regular trade volumes towards the end of 2020 lifted financial performance of Expolanka Holdings PLC during the three months to December 31, 2020 (3Q21), which helped the logistics behemoth to deliver stellar revenues and profits for the period.

People’s Insurance appointed sole insurance provider for inbound tourists

As Sri Lanka opens its doors to the world once again, People’s Insurance, a part of Sri Lanka’s largest financial services groups has entered into an agreement with Sri Lanka Tourism to be the exclusive insurance provider for all inbound tourists.

Lanka IOC 3Q earnings up; sales languish amid mobility restrictions

Lanka IOC PLC’s top line languished during the three months ended December 31, 2020 (3Q21) amid new restrictions on mobility with the outbreak of COVID-19 second wave in the country in early October and other economic activities, in comparison to the strong gains made in the earlier quarter.

Private sector credit accelerates in December after brief slowdown

The private sector credit gained pace during December after a brief deceleration in October and November, indicating that private individuals and companies have resumed taking up loans for consumption, production and investment activities.

Consumer prices ease to two-year low in January amid pandemic

Consumer prices measured by the Colombo Consumer Price Index (CCPI) fell sharply in January as food and non-food prices eased with little pressure coming from supply side amid dampening impact on demand in certain sectors due to the pandemic.

Australia’s commitment to climate action, adaptation and resilience

2020 was a year that tested the strength of our communities and the resilience of our countries.

Message from the Australian High Commissioner

26 January is Australia Day, a day when Australians around the world celebrate what’s great about Australia and being Australian. It is a celebration of the many wondrous things about our country.

Stocks down amid profit-taking

The Colombo Stock Exchange (CSE) took a breather yesterday with profit-taking by investors, which resulted in the benchmark index to end in red.

Fitch revises Abans Finance to ‘A(lka)’

Fitch has revised the national long-term rating of Abans Finance PLC (AFP), a member of the Abans group, from ‘BB+(lka)’ to ‘A(lka)’, following the revision of the national long-term rating of the parent company, Abans PLC, from ‘BBB+(lka)’ to ‘AA(lka)’.

Hatch Open House returns for 2021

Having first launched on March 20, 2020, ‘Hatch Open House’, a three-month mentorship programme that connects mentors with start-up founders to provide guidance and insight to grow their start-up, successfully concluded five cohorts, despite the turbulent nature of the year and is now returning in 2021 to aid even more start-ups.

Pelwatte to establish chilling centres and milking sheds in several areas

Pelwatte Dairy Industries expresses its delight on the promise of the President to allocate special lands for the dairy farmers, following several issues pertaining to the lack of land for cattle grazing in the districts of Ampara and Anuradhapura.

International virtual textile exhibition to kick off on February 1

The Trade Development Authority of Pakistan (TDAP), under the auspices of the Commerce Ministry, will launch the first-ever virtual textile-specific trade exhibition of Pakistan from February 1-5, 2021, in light of the precautionary measures undertaken in the wake of the COVID-19 pandemic.

EU picks austerity over helping poor, UN expert says

Policy-makers in the European Union (EU) choose austerity and balanced budgets over lifting tens of millions of Europeans out of poverty, a UN report said yesterday.

SLASSCOM launches comprehensive islandwide mentoring programme targeting start-ups

For the Entrepreneurship and Innovation Forum of Sri Lanka Association for Software Services Companies (SLASSCOM), uplifting innovators and entrepreneurs, a prospective set of change makers, is considered a key objective in the pursuit of achieving the association’s Vision 2025 of achieving US $ 5 billion in revenue, 200,000 jobs and 1,000 start-ups.

Ceylon Chamber to host Outlook 2021 Forum on February 3

The Ceylon Chamber of Commerce’s (CCC) annual discourse on the year’s outlook will be held virtually on February 3, 2021, organised by the Chamber Academy.

A new face of quality learning to the education industry of Sri Lanka Rotherham London College of Education

Rotherham London College of Education located in Ja Ela, founded by Nethni Dhanapala and Randiya Fernando is an English Language College preparing students for Cambridge Assessment English Qualifications from the University of Cambridge through the British Council Sri Lanka.

Team England holds ‘Moose Clothing Cup 2021’ aloft proudly as winner of Test Match clash against hosts Sri Lanka

In keeping with its free-spirited brand personality and its pursuit of excellence by endorsing the sport of cricket, Moose Clothing Company had signed on as Title Sponsor for the Sri Lanka Vs England 2021 World Test Championship which ended successfully, with the visiting side lifting the ‘Moose Clothing Cup 2021’ championship trophy despite hosts Sri Lanka trying to prove their mettle.

Sri Lanka can achieve a greener and more prosperous future

Farmers, hoteliers and homestay owners, fishers, producers of the famous Kanthale milk curd, Ayurveda healers, fruit growers, developers, safari jeep drivers, local dwellers—all derive their livelihoods from shared natural resources offered by the Hurulu-Kaudualla-Kanthale (HKK) landscape.

A race between vaccines and virus as recoveries diverge

In just three months since we released our last forecast in October, recorded COVID-19 deaths have doubled to over two million, as new waves have lifted infections past previous peaks in many countries. In these same three months, multiple vaccines have seen unexpectedly strong success and some countries have started ambitious vaccination drives.