Category: Companies
Daraz reinvents: A new perspective for SL’s e-commerce
Daraz is entering a new phase of its journey towards creating exceptional user experiences and developing a digitized ecosystem. Embarking on an exciting initiative to relaunch its brand, Daraz hopes to reaffirm its position in the lives of e-commerce users across the region. Alongside tech leaders across the globe, Daraz hopes to add a new […]
National single window: Paving way for paperless trade
By Mithara Fonseka and Kavishka Indraratna In 2016, Sri Lanka ratified its Trade Facilitation Agreement (TFA) with the WTO and in 2017 a Secretariat was established for the National Trade Facilitation Committee to drive much needed trade reforms in the country. Currently, the rate of Sri Lanka’s implementation commitments under TFA stands at 34.9% with […]
Kapruka shares begin trading tomorrow
Shares of Kapruka Holdings Limited will commence trading on the Main Board of the Colombo Stock Exchange under the symbol, “KPHL”, tomorrow, 7th Friday 2022. Kapruka Holdings Limited is the holding company of Kapruka, Sri Lanka’s Pioneering e-commerce platform with a global presence. The Company recently offered 32,826,000 ordinary voting shares to the public through its […]
Internship opportunities for SLIM undergraduates within SLASSCOM
The Sri Lanka Institute of Marketing (SLIM) recently signed a Memorandum of Understanding (MoU) with the Sri Lanka Association for Software Services Companies (SLASSCOM), the national chamber for the knowledge and innovation industry in Sri Lanka. The MoU was signed to facilitate internship opportunities for SLIM undergraduates within the SLASSCOM landscape. Signed on the 21st […]
Opinion: Government heavy-handedness to blame for our currency woes
By Vinuja Singharachchige: Much is being said nowadays about the pressures the Sri Lankan Rupee is facing, but it is important that we understand the mechanics and greater economic context. Currency crises have been common in our modern history with countries facing sudden devaluations to the point where we can predict the patterns. There was […]
Eco Spindles aims to increase plastic recycling by 10-pct
Eco Spindles, Sri Lanka’s largest plastics recycler equipped with one of only two plants in the world capable of creating polyester yarn directly from recycled PET plastic flakes, has significantly bolstered Sri Lanka’s recycling capabilities by creating an ecosystem for recycling within the country. This year, the company has seen the culmination of its significant […]
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written by Migara Rodrigo Sri Lanka has a whopping 527 state-owned enterprises[1] (SOEs). The 55 SOEs classified as “strategically important” alone employ 10% of the public sector workforce[2], or about 1.9% of all workers. Such a large number of SOEs are not the norm globally[3]; many other countries (such as India) have been reducing their […]
Double digit growth in taxi hailing industry but single digit increase in new driver partners joining
With fuel prices at the pump increasing and commodities set to take another bump, PickMe says it is vital not to take our eyes off the ball. “Despite all shortcomings, the wheels of the economy must not stop turning,” says Zulfer Jiffry, CEO of PickMe. The company has increased incentives to their driver partners in […]
Galle Face Icon partners with Sampath Bank as exclusive project funding partner
Galle Face Properties Ltd, a subsidiary of conglomerate Renuka Holdings, recently partnered with Sampath Bank as the exclusive project funding partner for the development of the Galle Face Icon, a 30-storey building with grade A office space, amenities, serviced suites and recreational areas located between the Beira Lake and Galle Face Green. Commenting on the […]
SEC wants to finalize implementation mechanism for Central Counterparty in 2022
The new Securities and Exchange Commission of Sri Lanka (SEC) Act which came into force on 19th September 2021 contains provisions that enable the setting up of a Central Counterparty (CCP). Further, the need for setting up a CCP in order to enhance the efficiency of post-trade risk management had been spoken of for a […]
CSE to extend trading hours; revise index calculation methodology of ASPI
The Colombo Stock Exchange (CSE) is revising the index calculation methodology of the All Share Price Index (ASPI) from full market capitalization-weighting to free float-adjusted Market Capitalization weighting. The Index methodology has been published on the CSE website.The Implementation of the said revision is scheduled to take place on 24 January 2022 (with effect from […]
Joint Chambers express concern on impact of currency shortage; request to engage with IMF
Statement issued by the following Institutions: We wish to draw the attention of the Government to the difficulties faced by our member companies and the broader private sector in obtaining foreign currency to finance much needed imports due to the prevailing situation with regard to the lack of availability of foreign currency. This will affect […]