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SL and World Bank sign USD70Mn loan to redevelop major transit terminal in Kandy
The Government of Sri Lanka and the World Bank signed a loan agreement in the amount of 69.33 million dollars for the Kandy Multimodal Transport Terminal Development Project, which will develop the Good Shed terminal in Kandy. Located at the city center and providing access to the railway station, the modernized terminal will integrate rail, bus, three-wheeler, […]
SriLankan Airlines launches flights to Nairobi
SriLankan Airlines will commence flight operations to Nairobi in Kenya, its second destination in East Africa after flying to the Seychelles. Scheduled flights would commence today (22nd April 2021) between Bandaranaike International Airport (BIA) and Jomo Kenyatta International Airport (NBO), East Africa’s largest and busiest airport. Accordingly, SriLankan Airlines would commence its flights to Nairobi […]
Standard Chartered Sri Lanka gets AAA(lka) Fitch Rating with Stable Outlook
Standard Chartered Sri Lanka’s National Long-Term Rating has once again been affirmed at ‘AAA(lka)’ by Fitch Ratings Lanka with a Stable Outlook. According to a statement by Fitch Ratings, the Bank’s support-driven credit profile is among the strongest in the country’s rated entities, and as a result, the rating is at the highest end of […]
Manik Sooriyaarachchi Scholarship for Female Entrepreneurs
The Australian High Commission would like to announce the launch of the Manik Sooriyaarachchi Scholarship for Female Entrepreneurs. This Scholarship has been established to commemorate Manik Sooriyaarachchi, who tragically died, along with her daughter Alexandria, in the 2019 Easter bombings. Manik was an Australian citizen and an alumna from the University of Swinburne in Melbourne. […]
EFL 3PL becomes Sri Lanka’s first Carbon Neutral logistics company
Sri Lanka’s largest logistics solutions company, EFL’s five-year march towards achieving a more sustainable operational model culminates in its certification as ‘Carbon Neutral’ as of 1st April 2021. The company’s achievement remains the culmination of a series of systematic initiatives implemented since 2016, which looked to transform its business into a far more efficient and […]
‘s headline inflation increased to 5.1-pct in March
Headline inflation as measured by the year-on-year (Y-o-Y) change in the National Consumer Price Index has been increased to 5.1 percent in March 2021 from 4.2 percent in February 2021 due to the statistical effect of the low base prevailed in March 2020. Food inflation (Y-o-Y) increased to 8.8 percent in March 2021 from 6.9 […]
Minor structural damage to SriLankan Airlines flight UL116 at Malé International Airport
SriLankan Airlines flight UL116, which was parked at the Malé International Airport has been damaged when a ground support vehicle collided with the aircraft. The airline said in a statement that minor structural damage occurred to the tail section (stabilizer) of the aircraft due to this incident. The SriLankan Engineering team based at the Malé […]
CBSL introduces priority sector lending target on credit granted by banks to MSME sector
Sri Lanka’s Central Bank has introduced a priority sector lending target on credit granted by banks to individuals and businesses in the Micro, Small, and Medium Enterprises (MSME) sector. Accordingly, banks shall grant credit to the MSME sector and ensure a growth rate of not less than 20 percent per annum on a Y-o-Y basis, […]
Dangerous Cargo detected at Hambantota International Port
M.V. BBC Naples sailing under the flag of “Antigua & Barbados” entered the port of Hambantota on 20th April at 2100 hrs, while en route from Rotterdam to China. The ship made an emergency call at the port for some urgent repairs. Agents for the vessel in Sri Lanka, Ms. Barwil Meridian Navigation, had not […]
GoMicro seals commercial contract with Keells Supermarkets to assess tuna quality with AI
The United Nations’ Food & Agriculture Organisation estimates that up to one third of global primary produce is wasted. Minimising food wastage could bring significant benefits to many people around the world. Issues around food freshness and storage are a critical component in this context. For instance, more than 30% of the fish landed on […]