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PetDoc wins gold and silver at NBQSA National ICT Awards
PetDoc, the trailblazer in pet health services in Sri Lanka, is thrilled to announce its recent achievements at the NBQSA National ICT Awards 2023. Recognizing PetDoc’s unwavering commitment to excellence, the prestigious Gold Award in the Health and Well-being category and the Silver Award in the Best Startup category have been bestowed upon the organization. […]
CCC Outlook 2024: Anticipated rebound depends crucially on effective debt restructuring
The 9th edition of the annual flagship Outlook Report for 2024 by The Ceylon Chamber of Commerce was recently launched at the Economic Outlook 2024 seminar. Dr. Nandalal Weerasinghe, Governor of the Central Bank of Sri Lanka, delivered the keynote address at the launch event. Compiled by the Economic Intelligence Unit (EIU) of the Ceylon […]
All Island Dairy Association raises alarming concerns about detrimental impact of VAT
The All Island Dairy Association (AIDA) has voiced grave concerns regarding the Sri Lankan government’s proposed increase in the Value Added Tax (VAT) from 15% to 18%, set to take effect on January 1st, 2024. This move, intended to broaden the tax base, could have severe repercussions for the dairy sector, a vital contributor to […]
Sri Lanka Embraces Indian Tourists with Virtual Launch of UPI Transactions via LankaQR
In a ground-breaking move aimed at enhancing the convenience and security of digital payments for Indian tourists in Sri Lanka, a virtual launch event marked the introduction of Unified Payments Interface (UPI) transactions through LankaQR this afternoon (12). The initiative, spearheaded by a collaboration between NPCI International Payments Limited (NIPL) and LankaPay (Pvt) Ltd, promises […]
Hidden Fees in Electronic Card Payments: A Call for Action
Sumedha Amarasinghe, the Deputy Secretary of the Association of Leasing and Debt Instalment Payers, has highlighted a significant issue with electronic card payments in a recent media disclosure. Amarasinghe noted that some institutions deduct an additional 1% to 5% from customers when they pay with an electronic card. This practice is an issue, as customers […]
Police warn against improper leasing practices; court order mandated for repossession upon resistance
The Inspector General of Police (IGP) has issued a directive to all officers, highlighting concerns regarding the improper acquisition of vehicles and equipment through leasing companies and finance companies. The Finance Leasing Act, No. 56 of 2000 details specific steps for repossessing leased equipment, including notifying authorities and obtaining court orders when necessary. The IGP […]
Harsha de Silva Re-appointed as the Chair to the Committee on Public Finance
Member of Parliament Harsha de Silva has been re-appointed as the Chair to the Committee on Public Finance. The Committee of Selection had nominated Members of Parliament to serve in the Committee on Public Finance and Harsha de Silva has been Re-appointed as the Chair to the Committee. The Speaker of Parliament announce to the […]
Power Purchase Agreement for 100 MW Ground Mount Solar Power Project in Siyambalanduwa
A power purchase agreement for the 100 MW Ground Mount Solar power project in Siyambalanduwa was signed by Rividhanavi (Pvt) Limited with CEB today. The project was advertised by the CEB for a competitive bidding process in September 2022, evaluated in 2023, and was awarded to the lowest & successful bidder at the end of […]
Hemas Holdings reports revenue growth of 10.3-pct in 2023/24 first nine months performance
Amidst the backdrop of relatively stable operating conditions in the domestic economy, Hemas Holdings PLC (HHL) demonstrated a steady performance in the first nine months of the financial year 2023/24, achieving a cumulative revenue growth of 10.3 percent amounting to Rs. 90.2 billion. Operating profits for the period mirrored the revenue growth, reaching Rs. 8.8 […]
Relaxation of restrictions imposed on standing facilities
The Central Bank of Sri Lanka introduced restrictions on the usage of the Standing Facilities by the Licensed Commercial Banks (LCBs) under the Open Market Operations (OMOs), with effect from 16 January 2023 Accordingly, access to the Standing Deposit Facility (SDF) was limited to a maximum of five (05) times per calendar month, while access […]