Test, trace, treat – Putting SL’s pandemic management mantra into practice

Sri Lanka’s extensive network of public healthcare workers has been the underlying force behind the country’s pandemic response. This series of articles, beginning with the Puttalam district, aims to capture the ground realities of pandemic management, from the perspectives of public health workers around the country.

Better late than never

Hats off to Prime Minster Mahinda Rajapaksa for at last realising that hard truth that “we would have been better off economically, had the country adopted a policy of focusing on producing import alternatives – rather than depending on other countries”.

Stock market bull run continues; ASPI hits all-time high

The indices at the Colombo Stock Exchange (CSE) entered new territory yesterday, breaking all the previous records, while recording over Rs.12 billion turnover for the second consecutive day, amid heightened market activity.

Labour Ministry in talks with stakeholders for five-day working week

The Labour Ministry has initiated discussions with the relevant stakeholders to limit the current workweek to five days while maintaining maximum weekly working hours to 45.

Sri Lanka’s 5G roll-out to be delayed beyond 2022

Fitch Ratings yesterday said the roll-out of fifth generation (5G) mobile network in Sri Lanka is likely to be delayed beyond 2022.

Mangala endorses President’s decision to involve foreign investors to develop ECT

Former Finance Minister Mangala Samaraweera has endorsed the decision taken by the government led by President Gotabaya Rajapaksa to develop the East Container Terminal (ECT) of the Colombo Port with the involvement of foreign investors.

Sri Lanka to offer “quarantine-free” experience to tourists

Sri Lanka will offer the “quarantine-free” experience to foreign tourists when the country opens its airports this Thursday for commercial flights, the Sri Lanka Tourism Development Authority (SLTDA) said.

Analysts caution against overdoing of monetary easing

Equity analysts have joined economists to caution against the possible fallout of overdoing monetary policy easing, as it could be a recipe for sparking inflation, leading to overheating of the economy.

Renewed tourism protocols as SL gears to open doors Thursday

The local tourism sector has been issued with a renewed set of ‘safety protocols’, one that is relaxed and allows international travelers experience the island nation with fewer restrictions.

Plantation sector wage deal hits deadlock

With the latest attempt to reach a consensus between Regional Planation Companies (RPCs) and trade unions on a wage structure to grant Rs.1, 000 minimum daily wage to plantation workers bearing no fruit, Labour Minister Nimal Siripala de Silva is looking forward to seek the approval of the Cabinet of Ministers this week to grant the proposed wage increase under the provisions of the Wages Board Ordinance.

Rupee comes under pressure amid weaker inflows, slide in dollar conversion and deferred payments

The Sri Lankan rupee came under acute pressure last week amid a temporary drought in inflows, deferred payments for imports coming in and exporters showing reluctance to convert foreign currency, causing some liquidity shortfall in the dollar market.

Major General (Rtd.) Chandrasiri appointed to BOC board

The Finance Minister has appointed retired Major General G.A. Chandrasiri as a Non-Executive Director to the board of State-owned Bank of Ceylon (BOC) with effect from January 8, 2021. Major General Chandrasiri is the current Chairman of Airport and Aviation Services (Sri Lanka) (Private) Limited.

Mila Fashion to set up US$ 3mn apparel plant in Welioya

Mila Fashion, part of the Design Studio group, has entered into an agreement with Sri Lanka’s Board of Investment (BOI) for the setting up of a brand-new apparel manufacturing plant in Welioya.

Foreign interest back on govt. securities

Foreign holdings of Sri Lanka government securities have increased to-date during 2021, the official data showed.

Market regulator says CSE given complete autonomy on IPO approvals

The Securities and Exchange Commission (SEC) has decided to give full autonomy to the Colombo Stock Exchange (CSE) on the Initial Public Offering (IPO) process and has relaxed the Listing Rules on the same to encourage more listings on the Colombo bourse.

Partial acceptance of T-bills at auctions intentional: ICRA Lanka

Amid certain quarters finding fault with the Central Bank and the overall economy for not being able to sell the entire stock of Treasury bills at weekly auctions in recent times, a rating agency said the move was intentional and appeared to be in line with the key doctrines of the Modern Monetary Theory (MMT), what is now being followed by the monetary authority to manage the economy.

Manufacturing and services activities expand in December

The Purchasing Managers’ Index (PMI) for both manufacturing and services continued its expansion in December indicating that economic activities are recovering much faster than expected and virus related restrictions are only having minimal impact.

Stock market steams ahead amid local investor bullishness

The Colombo Stock Exchange (CSE) continued its bull run full steam ahead yesterday, smashing records and setting new ones, amid tremendous local investor bullishness, though foreigners continued to keep away.

SLCSMI welcomes President’s move to appoint deregulation commission to simplify laws

The Sri Lanka Chamber of Small and Medium Industries (SLCSMI) yesterday welcomed the initiative of President Gotabaya Rajapaksa in appointing an 18-member deregulation commission for the simplification of the existing laws and regulations in the interest of the people.

Australia’s MDF-Biomass Supplies promote sustainable agro-energy

The Australian government-funded Market Development Facility (MDF) has partnered with bio-resources development company Biomass Supplies (a subsidiary of Biomass Group) to promote a sustainable agro-energy model to protect Sri Lanka’s forests, support clean energy generation and improve the livelihoods of rural women and farming communities.

‘A clear and final no’: French minister opposes US $ 20bn Canadian offer for Carrefour

Finance Minister Bruno Le Maire expressed France’s stiff opposition to a possible near-US $ 20 billion takeover of Carrefour by Canada’s Alimentation Couche-Tard yesterday, driving the French retailer’s shares down by 4.5 percent.

SriLankan’s efforts in ensuring highest standards for passenger safety awarded

SriLankan Airlines has been awarded the Platinum Standard status by APEX Health Safety, powered by SimpliFlying, following a full independent audit for the airline’s efforts in ensuring the highest standards for passenger safety and well-being during air travel, post COVID.

Sri Lanka Tourism Development Authority to introduce a mobile phone app for tourists

The government has decided to introduce a new mobile phone application for tourists visiting Sri Lanka, the Sri Lanka Tourism Development Authority (SLTDA) said.

Trade deficit narrows further despite COVID-19 second wave

Sri Lanka’s external sector performance continued to improve in November with the trade deficit narrowing further, mainly due to the restrictions imposed on non-essential imports and the lower fuel bill, despite the second COVID-19 wave taking a toll on the export revenue.

SriLankan Airlines awarded ‘Platinum Standard’ by APEX Health Safety

National carrier, SriLankan Airlines has been awarded ‘Platinum Standard’ status by APEX Health Safety, powered by SimpliFlying.

People’s Bank responds to media reports

People’s Bank in a brief statement today clarified on recent news reports in media about the bank.

Post-COVID educational priorities for Sri Lanka

The global shock of the COVID-19 pandemic proves, once again, the old adage that ‘it takes a crisis’ and especially so in the world of education. From school leaders to students, educators and parents, are absorbing the lessons, rethinking past assumptions and considering what once seemed like unlikely scenarios.

Productive workplace: Manage not projects but everything

No 21st century organisation can survive without a central information system that integrates its work functions across the units and management layers. Some organisations do this with enterprise resource planning (ERP) software tools,

South Asia’s largest tyre factory declared open

The first phase of South Asia’s largest tyre manufacturing plant, Ferentino Tyre - which was formerly known as Rigid Tyre - was opened by President Gotabaya Rajapaksa yesterday.

Deposit insurance scheme to undergo revision for better compensation mechanism

Sri Lanka Deposit Insurance and Liquidity Support Scheme (SLDILSS) is slated to undergo certain revisions this year to expedite the payment of compensation to depositors of failed financial institutions.