Category: Economy and Markets
Only solution for COVID-19 pandemic is vaccination: Cant afford lockdown
Sri Lanka’s President says only a vaccine can end the COVID-19 pandemic. Developing countries such as Sri Lanka cannot take lockdown measures or impose curfews that obstruct the economic activities of the country, the President’s office said issuing a statement. “The majority of our country’s income earners depend on informal livelihoods. Therefore, while the government […]
Our standard regular cylinders are available without a shortage in the market: Litro Gas Lanka
Litro Gas Lanka says that their standard regular cylinders are available without a shortage in the market and customers may order their LPG requirements by dialing 1311 or via the Litro Gas Home Delivery App. According to the company, all categories of Litro Gas Lanka cylinders are available to consumers without any shortage. Full statement
‘s Central Bank simplifies foreign exchange regulations
Sri Lanka’s Central Bank has revised regulations issued under the Foreign Exchange Act, No. 12 of 2017 (FEA) for further simplification and clarity improvement. The move expects to achieve greater efficiency in the conduct of cross-border foreign exchange transactions alongside further facilitating economic activities of the stakeholders through greater convenience of doing business. The revised […]
AI for software testing – trends and advantages.
AI-powered software testing has long since made its debut, and as with any cutting-edge technology, it’s here to stay. This isn’t surprising, considering how extensively AI and machine learning are being utilized across the business spectrum, for both large and small tasks. Software testing, on the other hand, has erred towards a few different types […]
Opinion: Port City, Better economic governance, not giveaways should be focus of new governance zone
Deng Xiaoping China’s great reform leader, faced a serious problem in the 1970s. Thousands of young Chinese were crossing to Hong Kong risking their lives. Rather than cracking down on the migrants, Deng sought to understand why they were migrating. Clearly the economic opportunities in Hong Kong were greater than in mainland China. Deng was […]
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 […]
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, […]
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 […]
Emirates to increase services to Colombo to 7 a week from 3 May
Emirates has announced it will increase its services to Colombo from six to seven flights a week, with the seventh weekly flight commencing 3rd May. The additional service will serve rising market demand and enhance connectivity to and from Colombo via Dubai. The added flight will operate every Monday. Emirates flight EK650 will depart Dubai […]
Eco Spindles talks responsible recycling at CFW’s Responsible Fashion Summit
At the recently concluded Responsible Fashion Summit organised by the Colombo Fashion Week (CFW), Sri Lanka’s largest plastic recycler Eco Spindles was among industry experts in an invaluable panel discussion themed ‘Circularity in a Fashion Supply Chain’. Representing Eco Spindles at the discussion, Chief Executive Officer at Eco Spindles Yarns, Nalaka Seneviratne elaborated on how […]
WindForce shares off to a strong start on Colombo Stock Exchange
The shares of WindForce Limited, the pioneers in the growth and supply of renewable energy in Sri Lanka, will commence trading on the Main Board of the Colombo Stock Exchange (CSE) from the 22nd of April 2021 onwards, following its highly-successful Initial Public Offering (IPO). The strong showing of the shares on the opening days […]