Sri Lanka creates jobs in 2Q as unemployment rate falls from 1Q

Sri Lankan businesses added jobs at a faster pace in May through June, signaling a recovery in the job market from the temporary downturn caused by the coronavirus-induced lockdowns and the resultant business closures.

Cement production exceeds pre-pandemic levels as construction activities rebound

Cement production had recovered to pre-pandemic levels as early as in July indicating that the construction sector had resumed activities at a faster pace after a pause during coronavirus related lockdowns.

DFCC to raise up to Rs.7bn via Basel III compliant debt

DFCC Bank PLC plans to raise up to Rs. 7 billion via a Basel III compliant debenture issue.

Message from the German Ambassador to Sri Lanka

Today, on 3rd of October, we commemorate a historic event, the 30th anniversary of reunification of West and East Germany following the fall of the Berlin wall. Thirty years are a fairly brief moment in a nation’s history. However, if we take a human lifespan as benchmark, it is quite a significant space of time.

Asian markets slip but Tokyo reopens with gains after blackout

Japanese stocks edged up yesterday as they reopened after being shut down all the previous day by a technical fault, though markets across Asia were mixed in holiday-thinned trade with investors keeping an eye on stimulus talks in Washington.

EU leaders to hold Berlin summit on China on Nov 16

EU leaders will hold a special summit next month to discuss Europe’s complicated relations with China, an official document showed on Thursday.

India’s top e-governance and compliance leader enters Sri Lanka

India’s leading brand for compliance announced its entry to Sri Lanka with the introduction of its global E-Governance and Compliance Platform with a leading Sri Lankan Enterprise Renewal and Change Specialist company recently.

Thilak Weerasinghe elected SLAITO President

The 40th Annual General Meeting of the Sri Lanka Association of Inbound Tour Operators (SLAITO) was held on September 29 at the Ramada Colombo.

Sri Lanka should be Asia’s energy hub: Energy Minister Gammanpila

Minister of Energy, Udaya Gammanpila reiterated the assurance of energy security and self sufficiency in the country recently, addressing energy sector employees at Lanka IOC head office.

Dialog Axiata launches mid-range 5G Huawei Nova 7 SE

Gearing Sri Lanka to a ‘5G ready status’ with its 5G trial network in select locations, across the country, Dialog Axiata PLC, Sri Lanka’s premier connectivity provider partnered Huawei to unveil the highly anticipated mid-range 5G smartphone, Huawei Nova 7 SE.

Morison opens largest pharma manufacturing facility in Sri Lanka

Morison PLC, the largest oral solid dosage pharmaceutical manufacturer in Sri Lanka and a subsidiary of Hemas Holdings PLC, ceremonially opened their new state-of-the-art manufacturing plant and research & development facility in the presence of Prime Minister Mahinda Rajapaksa, yesterday.

Breaking boundaries: The Hemas way

Diversified conglomerate Hemas Holdings PLC is a business entity that stood out for making some bold decisions over the years. One such decision that caught attention was in 2013, when the family-managed company offered the Group CEO position to Steven Enderby, a complete outsider and the latest is the appointment of Kasturi Wilson to the driving seat, making her the first female Group CEO of a public quoted conglomerate in the country.

PM reiterates SME support to fuel SL growth story

Prime Minister Mahinda Rajapaksa reiterated government’s support for the upliftment of small and medium enterprises (SME) so that the sector can be an active player in the country’s post-COVID-19 growth story.

New debt piling up slows as govt. cuts spending

The accumulation of new debt has significantly decelerated in recent months as borrowings, which peaked during coronavirus, largely ceased while the government consciously cut spending to prevent the budget from recording a blowout deficit.

Second quarter GDP out in mid-October as COVID-19 delays data collection

The second quarter (2Q) gross domestic product (GDP) figures are expected to be out by mid-October, after nearly a month’s delay as the pandemic-induced lockdowns had slowed the data gathering and processing to calculate the national output.

Watawala Plantations becomes SA’s first RSPO-certified palm oil plantation

Leading agribusiness company Watawala Plantations PLC (WATA), has reached the next milestone in sustainable oil palm plantations development, achieving the Roundtable on Sustainable Palm Oil (RSPO) certification for the palm oil mill and concessions in Galle district.

‘Work from Hotel’ – Hayleys offers a first to its team

The 31,000-strong team at Hayleys Group can now enjoy a working vacation from any Hayleys property around the country in a first time ‘Work-from-Hotel’ initiative offered by any Sri Lankan company.

SLFFA Cargo Services plans to invest Rs.500mn in off port facility

SLFFA Cargo Services (SLFFACSL), the commercial arm of Sri Lanka Freight Forwarders Association (SLFFA) is planning to invest Rs.500 million to setup an off port facility to handle LCL cargo (less than a container load), transhipment cargo and entrepot trade allowing warehousing space inside the Colombo Port to be utilised for more lucrative ship related activities.

Colombo prices decelerate in September for second consecutive month

Colombo district prices slowed for the second month in a raw in September mainly on higher base effects in the year earlier period, but the prices of both foods and non-foods rose during the month from August as coconut prices weighed on the food basket while people resumed moving freely with the return of normalcy.

Dialog Axiata Launches the Affordable and Powerful 5G Smartphone, Huawei Nova 7 SE

Gearing Sri Lanka to a “5G ready status” with its 5G trial network in select locations, across the country, Dialog Axiata PLC, Sri Lanka’s premier connectivity provider partnered Huawei to unveil the highly anticipated mid-range 5G smartphone, Huawei Nova 7 SE. Customers can now pre-order the latest Huawei 5G ready device from Dialog until 10th October 2020.

Govt. says Moody’s failed to recognise SL’s recovery story

The government yesterday came up with a strong response against the recent sovereign rating downgrade by Moody’s Investors Service, stressing that the international rating agency had completely ignored the current ground realities and the ongoing economic recovery of the country, after the COVID-19-related lockdowns.

With its neutral foreign policy Sri Lanka is open for foreign investments: President

While stressing on Sri Lanka’s neutral foreign policy, President Gotabaya Rajapaksa yesterday said the island nation is open for foreign investments.

Laugfs Gas enters into strategic partnership with Abans

Laugfs Gas PLC yesterday entered into a strategic partnership with Abans Group, enabling Sri Lankans to conveniently purchase their cooking-related products, including gas cylinders, gas cookers, freestanding cookers and other appliances, through the extensive Abans showroom network.

MAS Holdings doubles empowerment commitment to UN Foundation amid COVID-19

MAS Holdings, the largest and leading design-to-delivery apparel solutions provider in South Asia, renewed its commitment yesterday to empower more of its employees by extending its original undertaking to provide health and well-being education and services focusing on sexual and reproductive health and awareness on gender-based violence, to its employees and the communities adjacent to its manufacturing locations.

Govt. urged to extend state-supported maternity leave benefits in Budget 2021

As the formulation of Budget 2021 nears, the government is urged to explore the possibility of absorbing the cost of providing maternity leave benefits (MLB) by extending to the private sector a tax relief, so that discrimination against women at their childbearing age is discouraged.

Ceylon Chamber and Afghanistan Chamber of Commerce sign historic MoU to expand bilateral trade and investment

A historic memorandum of understanding (MoU) was signed virtually by Ceylon Chamber of Commerce Chief Executive Officer Manjula de Silva and Afghanistan Chamber of Commerce and Investment Chief Executive Officer Sayed Zaman Hashemi, witnessed by Ambassador for Afghanistan in Sri Lanka M. Ashraf Haidari.

‘Together in Action’ global initiative opens funding for impact-driven Sri Lanka enterprises

As the world celebrates the United Nations 75th anniversary and comes together to discuss how to respond and rebuild from the COVID-19 pandemic, leading social innovator EarthTech is launching Together in Action (TiA) to help bring people together and make progress towards the Global Goals.

Tea Board promotes Ceylon Tea with tea-dyed face masks

The Sri Lanka Tea Board (SLTB) has embarked on an innovative initiative to promote the Ceylon Tea brand during the global pandemic by distributing to the international business community ‘Ceylon Tea dyed’ face masks.

Proactive policies to combat malnutrition in Sri Lanka

Child malnutrition is still a prevalent challenge in Sri Lanka. More than one in five children (under five years old) are underweight and one in six babies are born underweight.

Role of special economic zones in Sri Lanka’s development

Special Economic Zones (SEZs) can be defined as ‘geographically delimited areas within which governments facilitate industrial activity through fiscal and regulatory incentives and infrastructure support’ (UNCTAD 2019, p. 128).