Category: Industry
Sri Lanka gets USD 110Mn for health systems enhancement project from ADB
The Government of Sri Lanka decided to borrow a loan amounting to USD 110 million from ADB and a grant of USD 03 million, provided by ADB-managed Japanese Fund for Poverty Reduction (JFPR), to implement the “Additional Financing of Health Systems Enhancement Project”. In early 2020, with the outbreak of COVID-19 pandemic, USD 15 million […]
First Capital’s ‘Performance First’ culture now certified by great place to work
The ‘Performance First’ work ethic embraced by First Capital Holdings PLC, a Janashakthi Group Company, received industry validation recently as it was certified as a great workplace by the independent analysts at Great Place to Work® in Sri Lanka. First Capital employees engaged in a multi-faceted anonymous survey conducted by Great Place to Work® on […]
ADB to promote SME sector in Sri Lanka
Asian Development Bank (ADB) Director General for South Asia Department Kenichi Yokoyama has assured President Gotabaya Rajapaksa that the ADB will support the promotion of Small and Medium Scale Enterprises (SMEs). The Asian Development Bank (ADB) provided a US 750 million concessional loan last year for projects in Sri Lanka. Yokoyama said that the ADB […]
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 […]
PUCSL launch second phase of electrician licensing program
The Public Utilities Commission of Sri Lanka (PUCSL), the electricity sector regulator, commences the second phase of awarding free National Vocational Qualification Level 3 (NVQ 3) Program for Electricians tomorrow. The PUCSL launched this programme March last year and more than 2000 electricians have obtained NVQ3 under the programme and qualified for the electrician license. […]
Technology critical to transform education sector – UNDP experts
With the onset of COVID-19, the world has seen disruptions to traditional forms of education. In Sri Lanka, since the first wave and the resulting lockdown in March 2020, schools have been largely dysfunctional with the levels of online learning varying between public and private institutions. To this end, the United Nations Development Programme (UNDP) […]
EU GSP+ monitoring mission concludes visit to Sri Lanka
A team of senior European Union (EU) officials began an official visit to Sri Lanka on 27th September 2021 to review Sri Lanka’s progress in implementing the 27 international conventions applicable under the Generalised System of Preferences Plus (GSP+). These conventions, ratified by Sri Lanka, cover human and labour rights, environment and climate, as well […]
“Our Goal is one million Chinese tourists to Sri Lanka” Dr. Palitha Kohona
Ambassador of Sri Lanka to China Dr. Palitha Kohona speaking at the Innovation and Development of Cities Summit, attended by many Chinese tour operators and environmental NGOs, encouraged Chinese tour groups to direct at least a million tourists to Sri Lanka. The Ambassador elaborated on Sri Lanka’s green credentials, including its vast forest cover, the 7000 odd […]
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 […]