Category: Companies
Regulating prices: From price mandates to more competition
Regulating prices: from price mandates to more competition The government recently removed the maximum retail price (MRP) on rice with a decision to import a buffer stock of rice to prevent any shortages. This is an important step in the right direction. Opening up the market for more competition will reduce the market power of […]
Opinion: Navigating through high maritime freight rates
By Imesha Dissanayake Maritime Freight rates have been on an upward trend since the second half of 2020. The Drewry’s composite World Container Index (WCI) as at 30th September 2021 increased to USD 10,361 per 40ft container, which is 292% higher than the same period in 2020. The average composite index of the WCI (Drewry), […]
Sri Lanka projected to grow by 3.3-pct : Shifting gears to services-led growth can help build back better
Sri Lanka’s economy is projected to grow by 3.3 percent in 2021, but the medium-term outlook is clouded by pre-existing macroeconomic weaknesses and the economic scarring from the COVID-19 pandemic. A gradual recovery will likely lead to corresponding improvements in labor market conditions. Most countries in South Asia are far from pre-pandemic trend levels, says […]
Women in Management, IFC launch 11th Professional and Career Women Awards
Marking its 11th year of honoring inspiring Sri Lankan women, Women in Management (WIM), in collaboration with Women in Work, a partnership between IFC and the government of Australia, today opened nominations for the ‘Top 50’ Professional and Career Women Awards 2021. This will be IFC’s seventh consecutive year – fourth under the IFC-DFAT Women […]
Domestic smartphone consumers garnered access to quality assured mobile imports
TRC issues Gazette Extraordinary 2196/51 ensures consumer protection against illegal smartphone trade The smartphone customers of Sri Lanka is protected from illegal smartphone imports owing to a revolutionary gazette issued by TRCSL (Telecommunication Regulatory Commission of Sri Lanka). The Gazette Extraordinary 2196/51, issued in December 2020, stipulates that the Type Allocation Code (TAC) letter issued […]
INSEE cement commits to Environment with new mangrove restoration project
Continuing with its efforts to protect and restore our environment, INSEE Cement, Sri Lanka’s only fully-integrated cement manufacturer, recently kicked of its latest Mangrove Restoration Project. This new initiative will work to restore 1 hectare of natural mangrove forest in the vicinity of the Searakkuliya Lagoon, Aruvakkaru, in the Puttalam District. Adding to INSEEs ongoing […]
JKH: CSE disclosure regarding development of West Container Terminal-1 in Colombo Port
We write with reference to our disclosure dated 15 March 2021 regarding the JKH investment in the development of the West Container Terminal-1 (WCT-1) in the Port of Colombo, as the local partner of Adani Ports and Special Economic Zone Limited (APSEZ). Pursuant to the receipt of the said LOI on 15 March 2021 from […]
Sakurai Aviation Academy produces youngest female private pilot license holder
Breaking all the stereotypes and barriers related to aviation training in Sri Lanka, Sakurai Aviation Academy has produced the Youngest Female Private Pilot License (PPL) Holder at the age of 17. She is also one of the very few pilots in the world to achieve the said feat. “I have been an aviation enthusiast since […]
Sampath Bank payment gateway enhances eCommerce with acceptance of UnionPay
Sampath Bank today announced that the Sampath Bank Payment Gateway, the only online solution which provides the most cost-effective and secure payment authorization and processing service, now accepts UnionPay credit and debit cards. This new development in the eCommerce industry of Sri Lanka will further empower merchant websites and consumers alike, with a wider range […]
Not a single instance of wrongdoing in forensic audits by Gov Cabraal
The Auditor General was not given the assignment to carry out the Forensic Audits, a recently released statement from the Central Bank said. “But instead, two dubious Accountancy firms from India who were under a serious cloud in India were entrusted the task at a huge fee,” it added. “After doing the audit, Forensic Auditors […]
Interview : A closer look at Bancassurance with Vindya Cooray
Bancassurance is a relatively novel concept in the financial services industry of Sri Lanka. It enables consumers to fulfill both financial needs and insurance needs under one roof through their preferred banking partner. In an exclusive interview with Lanka Business Online, Vindya Cooray, the Chief Bancassurance Officer of Union Assurance PLC, explained the concept and […]
CSE implements new OTC Platform to conduct REPO Transactions on Debt Securities
The Colombo Stock Exchange (CSE) announces the introduction of a new Over the Counter (OTC) Platform to facilitate the Repurchase (REPO) Transactions on Corporate Debt Securities with effect from today (16th September 2021). The new OTC Platform is a significant step in the product expansion line-up of the CSE and is projected towards establishing a […]