Category: Industry
Renewable energy can be a solution to SL’s energy crisis
Sri Lanka is currently facing an acute energy crisis, primarily due to the country’s reliance on imported fossil fuel. The solution to this is for the country to move on to more renewable sources of energy such as wind, solar, bio-gas, biomass and hydro power. Renewable energy also presents a host of other benefits both […]
PUCSL decision on power interruption
The Public Utilities Commission of Sri Lanka (PUCSL), the electricity sector regulator, has decided to reconsider the proposal made by the Ceylon Electricity Board (CEB) on 27th January 2022 on power interruption as there is no need for a power cut from today to 27th of January 2022. It is observed that there are sufficient […]
Indonesia pledges to strengthen palm oil smallholders
A special meeting was held on the 11th of January 2022 between the Palm Oil Association of Sri Lanka (POIASL) and Her Excellency, Dewi Gustina Tobing, Indonesia’s recently-appointed Ambassador to Sri Lanka. The present role of, and challenges faced by, the oil palm industry in Sri Lanka were discussed at the meeting, with the intention […]
Electronic & Electrical Sector breaks record with over USD 422mn export earnings in 2021
Electronic and Electrical Sector has recorded a 30% increase in its export earnings compared to $328mn recorded last year, despite COVID-pandemic challenges.With the support extended by the Sri Lanka Export Development Board, the industry has shown its knowledge, expertise, competitiveness, and resilience in 2021 to achieve the highest export revenue recoded in the history despite […]
Sri Lankan sapphires highlighted at SL Embassy in China
Sri Lankan gemstones were showcased at a glamorous event hosted by the Embassy in Beijing on 17 January, 2022. Sponsored by the ‘LARWINER – Gem Art Jewellery’, a range of stunning Sri Lankan blue sapphires and other coloured stones were displayed. Around 100 invited guests including many elite dealers attended the event. “LARWINER – Gem […]
Hotel service providers should accept payments from persons resident outside SL in forex: CBSL
The Monetary Board of the Central Bank issued Rules making it mandatory for hotel service providers to accept payments from persons resident outside Sri Lanka, only in foreign exchange. These Rules are published in the Gazette Extraordinary No 2263/41 dated 21 January 2022. With the issuance of the Rules, hotel service providers registered with and […]
Opinion: Special goods and services tax, Issues and concerns
Dr Roshan Perera & Naqiya Shiraz Background The new bill titled ‘Special Goods and Services Tax’ was published by gazette dated 07 January 2022.[1] The Special Goods and Services Tax (SGST) was originally proposed in Budget speech 2021 but was not implemented. It has once again been presented in Budget 2022. The SGST aims to […]
CEAT tyres chosen as original equipment for Lanka Ashok Leyland commercial vehicles
CEAT Kelani Holdings has moved into the new year with the added impetus of its appointment as an Original Equipment Manufacturer (OEM) for a range of heavy-duty trucks, tippers and light commercial vehicles assembled in Sri Lanka by Lanka Ashok Leyland PLC (LAL), a joint venture company of Ashok Leyland India. Under this OEM agreement, […]
Women in Management, IFC and Government of Australia recognise inspiring women from Sri Lanka and Maldives
The ‘Top50’ Professional and Career Women Awards 2021 – hosted by Women in Management (WIM), in collaboration with Women in Work, a partnership between IFC and the government of Australia – recently honoured inspiring professional and career women in Sri Lanka and Maldives making a mark in their respective fields. The 11th edition of the […]
‘s INSEE Cement and IUCN partner to support biodiversity conservation
Siam City Cement Group (SCCC Group) and the International Union for Conservation of Nature (IUCN) extended their partnership for another three years by formalizing a new Memorandum of Understanding (MoU) recently to support the implementation of the INSEE Sustainability Ambition 2030 targeting Net Positive Impact (NPI) on biodiversity at sites where SCCC Group operates. The […]
Second phase constructions of Eastern Container Terminal at Colombo Port commenced
The construction work of the second phase of Eastern Container Terminal at the Colombo Port commenced this morning (12) under the patronage of the President and Prime Minister.Construction works of the terminal, which will be conducted in three phases, are scheduled to be completed in 2024.The Terminal which is spread over an area of 75 […]
Opinion: Repay foreign debt or finance essential imports
By Chair of our Academic Programme and former Economic Adviser at the World Bank, Dr. Sarath Rajapatirana, and our Senior Research Fellow, and former Director of CBSL, Dr. Roshan Perera The available foreign reserves of the country can be used to either repay foreign creditors or to finance imports of essential goods and services required […]