Facebook ups investments to curb hate speech in SL

Facebook has significantly increased its investments to ramp up Sinhala and Tamil language expertise targeting to curb hate speech and other harmful contents originating from Sri Lanka on the social media platform.

Adamjee Lukmanjee invests Rs.48mn in pepper cleaning facility

Adamjee Lukmanjee (Pvt.) Ltd, a subsidiary of Adamjee Lukmanjee Group of Companies established in 1865, recently launched the company’s pepper cleaning facility, at its premises on Grandpass Road, Colombo 14.

Japanese firm to set up US $ 8.4mn boutique hotel in Ahungalla

Wakana JPN (Pvt) Ltd. a Japanese firm which already operates two hotels in Sri Lanka’s southern coastal strip, is to invest US $ 8.4 million for a new boutique hotel in Ahungalla. The 21-roomed property will be designed by famous Japanese architect Kengo Kuma and every aspect of the hotel from the design of the building, to the furniture, internal décor and cuisine, are to be optimized according to the traditions of both Sri Lanka and Japan. Waka

Govt. reduces charges at BIA to boost tourism

The Cabinet approval has been received to reduce the ground handling charges, aviation fuel and embarkation levy at Bandaranaike International Airport (BIA) for a period of six months, to expedite the recovery of the tourism sector in the aftermath of the Easter Sunday attacks. The Cabinet pape

Agriculture processing mega zone in Uhana

Prime Minister Ranil Wickremesinghe laid the foundation for an agriculture processing mega zone in Uhana, Ampara yesterday. Primary Industries and Social Empowerment Minister Daya Gamag

Tel Aviv takes ride to scooter ‘paradise’

Men use their phones to connect to the electric scooter mobile app while standing on a sidewalk of a street in the Israeli coastal town of Tel Aviv. Israelis in the country’s economic capital Tel Aviv have embraced electric scooters and their smart-phone rental systems, using them to zip along Mediterranean beaches and avoid heavy traffic in a city where the Jewish Sabbath prevents public transport on weekends. (AFP)

Govt.’s mega projects lift investor sentiment

The launching of mega infrastructure projects and improved tourist arrivals in the month of June compared to May in the aftermath of the April 21 Easter Sunday attacks lifted the spirits of the Colombo Stock Exchange (CSE) yesterday, sending the indices significantly upwards.

Tourist arrivals on the rise signalling recovery

The tourist arrivals to Sri Lanka in June almost doubled from a month ago after the April 21 Easter Sunday carnage, although the arrivals were over 50 percent down from a year ago, the data released by the country’s tourism office showed.

Tourism on path to recovery

Tourist arrivals which plunged to nominal levels following the Easter Sunday attacks on April 21 are now slowly recovering. The picture shows a tourist feeding an elephant in Uda Walawe. Sri Lanka earned US $ 4.4 billion from tourism in 2018, and was targeting US $ 5 billion earnings this year. Pic by Pradeep Pathirana

TUI pledges support for SL’s tourism industry revival

Sebastian Ebel, a member of the Executive Board of TUI AG, responsible for destination experiences, hotels and resorts, cruises and group purchasing, met with Tourism Minister John Amaratunga recently, to pledge support to get the industry back on track and also to do joint destination promotions with the Sri Lanka Tourism Promotion Bureau. The minister thanked the giant travel and tourism operator for the long-standing support for Sri Lanka.

Hans tells private sector to lead economic resurgence

As Sri Lanka strives to progress to the next level while grappling with the current turmoil that has caused a major setback, urgent is the need to catalyze a wave of economic resurgence that will place the country on par with its regional peers in terms of competitiveness, according to the newly elected Ceylon Chamber of Commerce Chairman Dr. Hans Wijayasuriya. Dr.Wijay

Shares post first monthly gain in 2019; rupee gains

REUTERS - Sri Lankan shares ended firmer at a more than one-week high yesterday buoyed by gains in beverage stocks, posting their first monthly gain this year, while the rupee edged up on dollar sales as month-end i

GSP Plus at stake if death penalty reinstated: Mangala

Finance Minister Mangala Samaraweera yesterday expressed concerns over the possibility of the European Union (EU) pulling out the GSP Plus concessionary scheme given to Sri Lanka as the country moves to re

PwC highlights nexus between property and road development in Sri Lanka

Post-war Sri Lanka has seen a dramatic revival to its infrastructure growth. Over the past decade, high-rises, new cities and modern road networks have become an increasingly common sight, not just in the commercial capital of Colombo but throughout the country.

SLASSCOM to develop national AI policy in six months

The Sri Lanka Association of Software and Service Companies (SLASSCOM) plans to develop a national Artificial Intelligence (AI) policy for Sri Lanka, in six months, partnering with the public and private sector stakeholders.

Malaysia awaits green light from Sri Lanka to commence FTA talks

Malaysia is awaiting the green light from Sri Lankan counterparts to officially commence negotiations on the proposed Free Trade Agreement (FTA) between the two countries. “We have already completed a feasibility study on th

Sri Lanka launches own national card scheme

The Central Bank of Sri Lanka together with LankaClear (Pvt.) Ltd (LCPL) achieved a significant milestone in the country’s payment landscape by launching the National Card Scheme (NCS). The NCS will be operated by LCPL in partnership with the international payment card operator, JCB International of Ja

Colombo Dockyard delivers first cable-laying vessel

Colombo Dockyard PLC delivered its first ever cable-laying vessel ‘KDDI Cable Infinity’ last Friday, built for Kokusai Cable Ship Co. Ltd. (KCS) of Japan. The picture shows KDDI Cable Infinity at Colombo Port before setting sail for Japan on Saturday (22nd). Read the full story on Page 5.

Sri Lanka’s premier travel and tourism fair opens

The ninth edition of Sancharaka Udawa, Sri Lanka’s premier travel and tourism fair was inaugurated yesterday at the BMICH, Colombo. This two-day fair will be open to the

Moody’s paints gloomy outlook for economy following Easter attacks

Moody’s Investors Service said the economic fallout from the Easter attacks runs deeper than portrayed, as the April 21 carnage has sent tremors across multiple key sectors from fiscal to the external sector, prompting the rating agency to slash its growth projections for the Sri Lankan economy.

Central Bank lays out plan for sustainable finance

The Central Bank (CB) mulls setting up a joint committee consisting of the regulatory and non-regulatory stakeholders of the financial industry to ensure the full implementation of the recently launched Roadmap for Sustainable Finance in Sri Lanka by 2030.

April trade gap narrows amid decline in imports

Sri Lanka’s trade balance in April contracted to US $ 797 million from US $ 999 million a year ago, as import expenditure fell for the sixth consecutive month and export income increased marginally.

Delaying ECT could risk Colombo Port’s hub status

Further delays in operationalising the East Container Terminal (ECT) would jeopardise the Colombo Port’s transhipment hub status, according to Sri Lanka Port Authority (SLPA) Chairman Kavan Ratnayaka.

ADB lends US $50mn to assist MSMEs

The Asian Development Bank (ADB), the Government of Sri Lanka and the Regional Development Bank (RDB) recently signed loan and guarantee agreements to further assist Sri Lanka to provide affordable and accessible credit to rural micro, small, and medium-sized enterprises (MSMEs) in the country. Under the financial

‘Future Minds 2019’

‘Future Minds 2019’ higher education and career gateway exhibition opened at the BMICH yesterday. The exhibition will be held in Colombo till June 16, then at Kandy City Centre on June 22 and 23, and finally at Hall de Galle on September 7 and 8. Entailing the theme ‘No one left behind’, the exhibition is aimed at youth who are keen on continuing their higher studies privately. It is showcasing a choice of higher e

Banks get Rs.62bn worth of tourism sector loan relief requests

Sri Lanka’s banking sector has received a record 1055 applications requesting for moratoriums on outstanding loans worth Rs.62 billion by the struggling tourism industry at the end of May, According to the Central Bank.

SL kicks off first tourism promo since Easter attacks

The stakeholders of the badly-hit tourism industry have come to one platform to help revive the market by offering nominal rates and putting together a special promotional campaign to attract travellers, starting with the Indian market.

Sri Lanka Telecom launches National Digital Roadmap for Smart Sri Lanka

Sri Lanka’s national telecommunication provider Sri Lanka Telecom (SLT) and national mobile service provider Mobitel yesterday launched the ‘National Digital Roadmap’, marking a big step in the overall digitisation of national services and traditional physical-effort requiring practices within the island.

Rooms 50% off and ads in Russia: Sri Lanka woos tourists after attacks

(Colombo) REUTERS: Sri Lanka’s battered tourism industry is trying to woo visitors back to beaches deserted after deadly Easter bombings, slashing hotel rates and pushing promotions in key markets like Russia.

Asian markets climb on hopes of Mexico tariff delay

HONG KONG (AFP) - Asian markets rose yesterday, tracking gains on Wall Street following a report that the United States could delay its plan to hit Mexico with tariffs. The threats against Mexico have intensified anxiety among investors, who were already rattled by the seemingly endless US-China trade war. But US stocks enjoyed