Sri Lanka, a smugglers’ paradise

The Research Intelligence Unit (RIU) has been conducting ongoing research into the growth of illicit markets in Sri Lanka as they represent the biggest sources of revenue leakage for the government. Herein some insights shared from the most recent report.

Govt. urged to take necessary action to register direct sales marketing firms

Currently in Sri Lanka, there is a host of criticism about the direct selling industry, resulting in conflicts between people. Are these direct selling companies genuine?

Disgruntled tile importers slam government policy

Sri Lanka’s Tile and Sanitaryware Importers Association (TSIA) yesterday claimed that the current suspension on tile imports is indirectly paving the way for the creation of a duopoly in the country’s tile market, at the expense of the consumer, while potentially causing significant environmental pollution, which could threaten the sustainability of other industries such as tourism.

Cabinet nod for resumption of ceramic imports

The Cabinet of Ministers this week gave the approval for a proposal to lift the suspension on ceramic imports, which remained banned for nearly a year, after the industry stakeholders met with the Treasury Secretary earlier this month, seeking redress to industry woes.

Govt. seeks services of int’l consultants to promote direct investments to Sri Lanka

To shore up the country’s image as a preferred investment destination, the Sri Lankan government plans to obtain the assistance of an international consulting firm for the promotion of the country’s improving investment and business climate to prospective foreign investors.

Health agencies seek clarity on new cinnamon cigarette

National Authority of Tobacco and Alcohol (NATA) Chairman Dr. Samadhi Rajapaksa said his institution has sought clarification from the Attorney General’s Department with regards to the ‘Ayurvedic Cinnamon Cigarette’ that is being manufactured and promoted in Sri Lanka.

Suez Canal blocked by huge container ship

Tugboats and diggers are working to refloat a giant container ship that has blocked Egypt’s Suez Canal, one of the world’s busiest trade routes. The owners of the 400m-long (1312ft) vessel say it ran aground sideways after being hit by strong winds.

National Minimum Wages Amendment Bill presented to P’ment

Labour Minister Nimal Siripala de Silva yesterday presented the National Minimum Wages Amendment Bill to Parliament, under which the government seeks to increase the monthly and daily minimum wages of workers.

WindForce’s Rs.3.2bn IPO oversubscribed

Renewable energy giant WindForce Limited (WIND) said its Initial Public Offering (IPO) worth Rs.3.2 billion, which officially opened yesterday on the Colombo Stock Exchange (CSE), was oversubscribed on the opening day.

Govt. to put underutilised assets to full use through legislation

The government plans to bring in new legislation to set up a commission to look into the underutilised assets such as state lands and delayed condominiums, to be put to productive use.

Colombo Port City Economic Commission Bill to reach Parliament

The Colombo Port City Economic Commission Bill, aimed at setting up a special economic zone in Colombo Port City built by China, is expected to be submitted to Parliament, as the Legal Draftsman has completed the drafting of the bill specifying the provisions for the commission.

Suez Canal blocked by huge container ship

Tugboats and diggers are working to refloat a giant container ship that has blocked Egypt’s Suez Canal, one of the world’s busiest trade routes.

National Minimum Wages Amendment Bill presented to P’ment

Labour Minsiter Nimal Siripala de Silva yesterday presented the National Minimum Wages Amendment Bill to Parliament, under which the government seeks to increase the monthly and daily minimum wages of workers

WindForce IPO oversubscribed

Renewable energy company, WindForce Limited (WIND) said its Initial Public Offering (IPO) worth Rs.3.2 billion, largest IPO since 2011, which opened today on the Colombo Stock Exchange (CSE), was oversubscribed on the opening day.

Forest restoration: Where does Sri Lanka stand?

This year, the International Day of Forests is marked under the apt theme ‘Forest restoration: a path to recovery and well-being’. Forest restoration is one of the priority areas for mitigating the effects of climate change.

Five reasons why South Asia is coming together to beat marine plastic pollution

Collaboration, cooperation, consensus – these words are seldom used when describing the interactions of the eight sovereign nations that make up South Asia. For a variety of reasons, South Asia is considered the least integrated region in the world with restrictions on the movement of people, goods, services and capital.

Feb. merchandise export earnings hit five-year high

Sri Lanka’s merchandise export earnings reached a five-year high barely missing the US$ 1 billion mark in February as exports recovered from the second COVID-19 wave that emerged in the final quarter of 2020.

Softlogic’s Odel to operate Arcade Independence Square from April

Softlogic Holdings subsidiary Odel PLC yesterday said it entered into an agreement with the Urban Development Authority (UDA) to lease,

Tourism authorities approve floating agro tourism resort project

The Bolagala Floating Agro Tourism Resort in Katana, the first of its kind in Sri Lanka, has received approval from the Sri Lanka Tourism Development Authority (SLTDA) to open its doors in June.

Manufacturing sector records highest NPLs in 2020

The sector-wise breakdown of non-performing loans (NPLs) showed that manufacturing sector had recorded the highest rate among others such as agriculture, trade, tourism, construction and consumption.

BreadTalk closure put off due to potential investor interest

R I L Property PLC will not suspend BreadTalk operations as announced, as the company is now in negotiations with a potential investor, who intends to acquire franchise rights.

Top economist proposes multi-pronged approach to rebuild economy

A multi-pronged approach is required to rebuild the hard-hit economy, which was already on downward path even before the pandemic struck, according to senior economist and former central banker Dr. W. A. Wijewardena.

Private sector proposes alternative to banning sachet packets

In an effort to reduce the carbon footprint of businesses, the private sector has proposed an Extended Producer Responsibility (EPR) initiative to be adopted as a more cohesive alternative to address the environmental issues created by flexible packaging in Sri Lanka.

23rd March: The history behind Pakistan Resolution Day

On a crisp spring day in 1940, under the shadow of the Badshahi Mosque, in a city that has been at the heart of the Muslim subcontinent for centuries, a group of men resolved to create a separate homeland for their people.

Odel to operate Arcade Independence Square

Softlogic Holdings subsidiary Odel PLC has entered entered into an agreement with the Urban Development Authority (UDA) to lease, operate and mange Arcade Independence Square for a period of 10 years commencing from April 1, 2021, with an option to renew for a further 10-year period subject to terms and conditions of the lease agreement.

BreadTalk closure put off due to potential investor interest

R I L Property PLC will not suspend the operations of BreadTalk as announced last week, as the company is now in negotiations with a potential investor, who intends to acquire the franchise rights.

Katana Agro Tourism Resort gets SLTDA nod

The Bolagala Floating Agro Tourism Resort in Katana, the first of its kind in Sri Lanka, has received approval from the Sri Lanka Tourism Development Authority (SLTDA) to open its doors come June.

Beggars can’t be choosers says Dr. Wijewardena

Present animosity against China or India must be stopped, said senior economist Dr. W. A. Wijewardena, if Sri Lanka is looking to become a developed country in the next generation, an ambition which requires a series of fixes in the economy.

Plantations Minister orders establishment of Kithul Development Board

Plantations Minister Ramesh Pathirana has ordered to establish the Kithul Development Board, to regulate and develop kithul (fishtail palms) as a main plantation crop in Sri Lanka.

Policy measures of SL less gender sensitive: UN Gender Tracker

Sri Lanka has been successful in implementing only seven policy measures that were gender sensitive during the COVID-19 crisis, much lower that the implementation of its regional peers such as Pakistan, India, anSri Lanka has been successful in implementing only seven policy measures that were gender sensitive during the COVID-19 crisis, much lower than the implementation of id Bangladesh that rolled out 14, 18, and 17 policies during the crisis.