Category: Companies
Hemas, Dilmah, Brandix & Daraz come together to provide emergency relief under UNDP-led initiative
The health and food sectors are two of the most heavily affected by the ongoing economic crisis in Sri Lanka, with severe medical and food supply shortages, availability of basic pharmaceuticals and overall health and wellbeing continuing to be significantly affected. In this backdrop, building on established partnerships and keen interests of various actors, the […]
CA Sri Lanka launches Non-Financial Reporting Guideline to promote reporting practices among companies
In its standing as the sole authority to promulgate accounting and auditing standards in the country, the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) on Wednesday launched the Non-Financial Reporting Guideline to strengthen and ensure fair and balanced corporate reporting among companies, while also promoting non-financial reporting practices amidst growing demands from […]
Trillium Property Management ground breaks on USD 10Mn duplex apartment project
Trillium Property Management, a luxury apartment owner, developer, and operator, recently held the groundbreaking ceremony of its latest 60 upscale duplex (two stories) apartment project with exclusively designed 2 villas at at No:33, Lionel Edirisinghe Mawatha, Colombo 05. Chairman of Trillium Property Management Janaka Ratnayake graced the event, amidst a gathering of distinguished guests, including […]
JKH to raise equivalent of USD 75Mn via unlisted convertible debentures to Fairfax Financial
John Keells Holdings PLC (JKH) announced it will raise the equivalent of USD 75 million of foreign direct investment by way of a private placement of Sri Lankan Rupee (LKR) denominated unlisted convertible debentures (“debentures”) to certain controlled affiliates of Fairfax Financial Holdings Limited, headquartered in Canada (collectively, “Fairfax”). The transaction amounts to a value […]
Flights between China and Sri Lanka to increase
It has been decided to increase the number of flights between China and Sri Lanka. Accordingly, China will operate three flights to Sri Lanka from this week. SriLankan Airlines too offers frequent flights to China. This was revealed by the Chinese Ambassador to Sri Lanka Qi Zhenhong when he paid a courtesy call on President […]
Among IT decision-makers, 85-pct see urgent shift in focus to consumers’ digital experiences: Report
In a survey of 500 IT decision-makers, 85% agree that there is an urgent shift toward focusing on consumers’ digital experiences. Moreover, 73% of respondents say that the move to focus on the digital experience in their own organization was sudden. The survey was conducted for a new report from WSO2, “Reprogramming the Enterprise: Keeping […]
Statement from SriLankan Airlines on Flight UL 504
SriLankan Airlines would like to address the reports currently circulating on media about flight UL 504 avoiding a possible mid-air collision with another aircraft. SriLankan Airlines confirms that its pilots operating UL 504, which departed from London to Colombo on 13 June 2022, were able to safely commandeer the flight without an incident. Contrary to […]
Foreign Minister Peiris in Singapore for official visit
At the invitation of the Minister for Foreign Affairs of Singapore, Dr. Vivian Balakrishnan, Minister Foreign Affairs Prof. G. L. Peiris undertook an official visit to Singapore from 8-9 June, 2022. An official visit of a Foreign Minister of Sri Lanka to Singapore is taking place after four years. During the visit, a bilateral meeting was […]
Colombo Port ranked most efficient in South Asia and Indian sub-continent : World Bank and S&P
No. 1 in South Asia/Indian Sub-Continent No. 3 among ports in the Indian Ocean Rim No. 22 among 370 ports Globally The Port of Colombo has been ranked as the most efficient port in South Asia and the Indian Sub-Continent, 3rd in the Indian Ocean rim and 22nd among 370 ports globally, in the second […]
3AxisLabs another welcome entrant to Jaffna’s IT ecosystem
By Jekhan Aruliah The Yarl Geek Challenge (YGC), run by the Yarl IT Hub, has been a launch pad for hundreds of IT careers, and for a number of successful companies. What YGC showcases is not the products brought by the teams, YGC showcases the people the teams are made up of. Often the YGC’s […]
Tax reforms at a glance: To be introduced in the immediate & near term
Cabinet nod has been received to instruct the legal draftsmen to prepare necessary bills to amend the following Acts with a view to increasing government revenue. Inland Revenue Act, No. 24 of 2017 Value Added Tax Act, No. 14 of 2002 Telecommunication Levy Act No21 of 2011 Betting and Gaming Levy Act, No.40 of […]
SL CB reassures commitment to ensuring the availability of forex banking system for essential foods
The Ministry of Finance issued Import Control Regulations on Payment Terms No.07 of 2022, dated 06 May 2022, and to be effective from 20 May 2022, by restricting the use of Open Account Payment Terms or Consignment Account Terms, subject to conditions, when importing goods to Sri Lanka. This measure complements the various other measures […]