Author: lbostgadmin
Foreign Minister meets EU Ambassadors in Colombo
Ambassadors of the European Union (EU) based in Colombo called on Foreign Minister Dinesh Gunawardena on Tuesday 18 May 2021 at the Foreign Ministry and discussed issues of mutual interest, including EU-Sri Lanka cooperation, and the GSP Plus process. The Foreign Minister welcomed the multifaceted cooperation existing between Sri Lanka and the EU. Follow-up action […]
FIU imposes Rs. 4 Mn penalties for 1Q 2021 to enforce compliance on Financial Institutions
As the regulator for Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) in Sri Lanka, the Financial Intelligence Unit (FIU) has imposed penalties, totaling to Rs. 4.0 million for the period from 1 January 2021 to 31 March 2021 to enforce compliance on Financial Institutions. Penalties have been imposed mainly on the violations of […]
President to Inaugurate Sri Lanka Investment Forum 2021
The President, in inviting global investors to participate in “Sri Lanka’s Growth Decade”, stated that “Sri Lanka is looking to unleash a decade of growth to rapidly increase its GDP, taking advantage of its inherent strengths and global supply chain shifts. Our strategic location combined with our business-friendly policies will be an accelerator for this […]
Certain clauses in Port City Bill inconsistent with Constitution: SC (Full Determination)
Speaker Mahinda Yapa Abeywardena informed Parliament today that some clauses in the Port City Economic Commission Bill are inconsistent with the Constitution and can be passed through a special majority and a referendum. The Supreme Court, however, determined that these clauses can be passed only if amended. The decision of the Supreme Court was handed […]
Dutch partner CSI joins hands with Tropical Green Exports in an investment partnership
Ceasar Sustainable Invest BV, recently announced its partnership with Tropical Green Exports recognizing the potential of the coconut substrate sector as a key economic driver in the North of Sri Lanka. Tropical Green Exports (Private) Limited specializes in manufacturing, supply and distribution of export quality coco peat used in the hydroponics industry and as an […]
Sampath Bank Digitalizes KYC Process in Partnership with Dept for Registration of Persons
Sampath Bank entered into a Memorandum of Understanding (MOU) with the Department for Registration of Persons (DRP) to facilitate customer identification and verification through the DRP interface. This will enable Sampath Bank to onboard customers digitally, without them having to physically visit the Bank, by verifying and confirming their identity via the DRP database. Digitalizing […]
Are we getting the Colombo Port City Financial Centre right?
By H. Dabarera and KD Vimanga. Background The Colombo Port City commission bill is to be debated in parliament this week. Over the last few weeks, Sri Lankans have contemplated if the proposed Colombo Port City is the messiah that will rescue the country’s economy or whether it is another Trojan Horse that will throw […]
Panasian Power PLC records 63-pct increase in net profit for FY20/21
Panasian Power PLC (CSE:PAP.N) one of Sri Lanka’s leading green energy solutions providers, posted a consolidated net profit of Rs 248 million for the financial year ending March 31st 2021, signifying a growth of 63% compared to the financial year in 2019/20. The Group saw a revenue increase of 62% in the final quarter of […]
Notice on Covid 19 to passengers travelling on UL to Australia
As per the latest health guidelines issued by the Australian High Commission in Colombo, passengers travelling on SriLankan Airlines to Australia require a negative Rapid Antigen Test (RAT) prior to check-in for flights, commencing on 15th May 2021. The testing requirements would include: A negative COVID-19 Polymerase Chain Reaction (PCR) test result is required for […]
HNB records Profit After Tax of Rs 4.7Bn during the first quarter of 2021
HNB recorded a Profit After Tax (PAT) of Rs 4.7 Bn during the first quarter of 2021 while Profit Before income Tax (PBT) amounted to Rs 5.5 Bn. At Group level PBT and PAT were at Rs 5.9 Bn and Rs 4.8 Bn respectively. The substantial monetary loosening adopted to revive the pandemic hit economy […]
Opinion: Digitalization is the way forward for Sri Lanka
By JUNKO NARIMATSU, Digital Development Specialist, World Bank; ANEESA MENDIS , Digital Development Consultant, World Bank , JAGATH SENEVIRATNA , Director – Monitoring and Evaluation for Information and Communication Technology Agency of Sri Lanka (ICTA) In early 2020, when the COVID-19 lockdown began, Sri Lanka’s food supply chain was significantly disrupted leaving farmers and consumers […]
Pro Tip: How to Address Corona Virus Employment Gap on LinkedIn
By Chathurika Jayawardana, Founder, Career Kit First and foremost, be honest about it. Employers are aware that job loss during this pandemic is due to downsizing/retrenchment resulting from business loss. If you are productive during the time-off, it’s understood that there has not been a decline of career interest nor has there been a career […]