Plantation firms rattled by govt.’s wage hike decision

Sri Lanka’s Regional Plantation Companies (RPCs) were in for a rude shock this week when the government announced its decision to increase the minimum daily wage of plantation labourers to Rs.1,000, with effect from March 1, this year.

SMEs given two more weeks to apply for loan relief, credit support programme

The small and medium-sized enterprises (SMEs) have been given time till January 31 to apply for the government-proposed loan moratorium under its credit support programme but such requests should come in writing and some should come with credible business plans.

China keen to send 1mn tourists to Sri Lanka

Chinese Foreign Minister Wang Yi is reported to have brought to the notice of Prime Minister Mahinda Rajapaksa the importance of attracting one million of China’s total 170 million outbound tourists to Sri Lanka, to develop the sector.

CSE adopts GICS industry classification

The Colombo Stock Exchange (CSE) has decided to discontinue the current industry classification used to categorise its listed companies and adopt the Global Industry Classification Standard (GICS) along with S&P/CSE co-branded sector indices, with effect from January 20, 2020.

Corporate bonds defy general market interest rates in most part of 2019

Although the broader interest rates trended downwards during most part of last year, the interest rates applicable on corporate bonds had moved in the opposite direction.

Govt. to shut down PPP unit, Policy Development Office

The Cabinet of Ministers has approved a proposal to shut down the National Agency for Public-Private Partnerships (NAPPP), which was formerly headed by Thilan Wijesinghe.

Davos bosses sound alarm over climate, political fires

Business chiefs head into their first global gathering of 2020 warning that a litany of environmental disasters risk defining the world over the new decade, according to a survey yesterday.

Distress in global tea cup: Sri Lanka not spared

Distress in the international markets has brewed a storm in the global tea cup, negatively impacting the top tea-producing countries and Sri Lanka has not been spared in this wave.

Challenges faced by Sri Lankan maritime industry in 2020

The Port of Colombo is ranked the world’s number one container growth port among the top 30 container ports for the year of 2018, in container handling. It has also recorded a 13.5 percent growth for the year 2018, over the same period of the previous year,

Integrating management participation for MICE tourism in Sri Lanka

The high-potential tourism industry is the next game-changer in the Sri Lankan economy, however, Sri Lanka lacks conceptual requirements and is in dire need for creative tourism, innovation with technology and knowledge-based decision making.

Port of S’pore records all-time high 37.2mn TEU throughput

The Port of Singapore recorded strong growth in the past decade. In particular, the container throughput in 2019 hit an all-time high of 37.2 million twenty-foot equivalent units (TEUs), amidst challenging global economic conditions.

Ceyline delivers new trains to Sri Lanka Railways

Ceyline, on behalf of Ceylon Shipping Corporation (CSC), successfully delivered six locomotives and 24 train carriages to Sri Lanka Railways, yesterday.

Port City marketing campaign likely after May

The government plans to commence a joint marketing campaign to promote the investment opportunities of Colombo Port City with the project company, CHEC Port City Colombo, subsequent to enacting a comprehensive legal framework after May this year.

New Chairman appointed to Lanka Hospitals

Vidya Jyothi Dr. Bandula Chandranath Wijesiriwardena has been appointed as Chairman of Lanka Hospitals Corporation PLC, with effect from December 27, 2019.

Govt. plans to resume operations at Mattala Airport

Industrial Export, Investment Promotion, Tourism and Civil Aviation Minister Prasanna Ranatunga has instructed his ministry officials to expedite the resumption of flights and other operations at Mattala Rajapaksa International Airport.

US-China trade deal a mixed success for Trump

(Washington) AFP: President Donald Trump is set to sign a trade deal with China on Wednesday that he will trumpet as a major victory, but it comes at a steep cost after a two-year standoff between the world’s two top economic powers.

Indonesia, UAE sign US $ 23bn investment deals

(Jakarta) AFP: Indonesia and the United Arab Emirates have struck nearly US $ 23 billion in business deals, including agreements in the energy sector and on infrastructure projects, the Southeast Asian nation said yesterday.

Sri Lanka to receive 20mn euros to upgrade health service

Sri Lanka is set to receive 20 million euros in funding from the Global Fund for 2020-2022, to upgrade the country’s health service.

Bodaragama appointed as new Excise Commissioner General

Advisor to Finance, Economy and Policy Development Ministry A. Bodaragama has been appointed as Commissioner General of Excise.

Global stock markets mostly up as focus on China-US pact

Growing need for privacy and data protection in Sri Lanka

Every day, a vast amount of information is transmitted, stored, and collected across the globe, enabled by the rise of computing and communication power.

And pollution was made to go up in smoke!

Some people and certain places take us back in time. They draw out things lodged so long in the back shelves of memory that we’ve almost forgotten they exist. Nalin Dharshana. Nedalagamuwa. A person and a place. In their ‘togetherness’ one can read economy, history, agriculture, entrepreneurship and much more.

Too far, too fast?

After a stellar 2019, investors are naturally asking themselves whether the strong performance can continue in 2020 or not. Trying to answer this is difficult as different perspectives provide different answers.

‘Born in Sri Lanka’: Country-of-origin mark supports Sri Lankan brands in global market

The Sri Lankan Export Development Board’s country-of-origin certification mark for the spices sector supports growers, processors and manufacturers by helping them to identify their products as Sri Lankan Born and informs customers and consumers that all significant parts, produce, processing and products are of genuine Sri Lankan origin.

Foreigners return to bond market; records first inflow for new year

The rupee bond market recorded a positive start to the New Year as foreigners bought Rs.1.5 billion or US$ 8.32 million worth government bonds during the week ended January 9, but the stock market witnessed an outflow of foreign funds worth Rs.19 million, latest data showed.

World Bank fails to foresee SL’s growth beyond 3.3% this year

Issuing by far the worst economic outlook for Sri Lanka this year, the World Bank last week said the country could entangle in a toxic mix of elevated fiscal deficit and debt, and the economy would struggle to break the 4.0 percent growth mark during next three years.

Central Bank to set up credit guarantee scheme for banks

The Central Bank (CB) will setup a credit guarantee scheme to protect the banking sector when granting working capital loans to small and medium-sized enterprises (SMEs) in non-performing loan (NPL) category under the forthcoming SME relief package.

Govt. says Enterprise Sri Lanka politically motivated

The new government has charged that loan disbursements under now suspended ‘Enterprise Sri Lanka’ loan programme that offered concessionary interest rates, was politically motivated and said is subject to a full review.

SriLankan clarifies on water matter; to discontinue serving pre-cupped water

Clarifying news reports on the purchase of drinking water for its passengers, the State-run airline said no local supplier offered to supply pre-cupped water when the bids were called for the supply of such items.

Firms in China remain wary despite US trade deal

BEIJING (AFP) - Washington and Beijing may be ready to sign a preliminary trade agreement, but companies in China are not taking any chances, forging ahead with contingency plans in case the tariff war resumes.