Category: Industry
MTI unveils National ICT Eco-System Framework
Given the criticality of ICT (Information & Communication Technology) to a Nation’s Economic Development, MTI has unveiled a National ICT Eco-System Framework. The strategic intent is to provide a holistic framework for nationally strategic ICT decisions, which otherwise tends to suffer from ‘silo’ based, sub-optimal initiatives. Given the pervasive nature of ICT, it is important […]
Eran queries purpose of maintaining COPE if it cannot take actions
SJB MP Eran Wickremaratne speaking on the debate on COPE report in Parliament expressing his dismay said it was unfortunate that the COPE committee appointed by Parliament to investigate embezzlement of hundreds of thousands of rupees in Sri Lankan state institutions had not even the power to prosecute thieves and fraudsters. He said the country […]
CICT declared Asia’s Best Container Terminal under 4 million TEUs category
Colombo International Container Terminals (CICT) has continued its winning streak on the global stage by winning the award for the ‘Best Container Terminal in Asia’ in the Under 4 million TEUs category for a record fifth consecutive year. The winner of this prestigious award was announced on Thursday 21st October at the 2021 Asian Freight, […]
PickMe named amongst the World’s Most Agile
This year’s World Agility Forum nominated PickMe for the Best Agile Transformation Initiative award, placing this innovative ride hailing company amongst the world’s most agile global giants such as FedEx and Holubuva. Although PickMe did not bag the award this year, it was the only Sri Lankan organisation picked by the Forum to compete against […]
SL energy crisis needs streamlined long term policy framework from CEB: Snr Engineers Ass
Senior Engineers of CEB has launched a new movement to uphold policy consistency Plans to focus Energy Crisis in Sri Lanka through expediting the construction of new power plants Plans for career upliftment of junior engineers and recommending to increase retirement age to 61 to increase the contribution of senior engineers to achieve energy goals […]
Rapid development for communication infrastructure in remote areas
President Gotabaya Rajapaksa’s goal is to utilize the telecommunication development fees to develop the communication infrastructure in remote areas, says the Director General of the Telecommunications Regulatory Commission of Sri Lanka, Oshada Senanayake. He also said that as the communication is a strong factor in the national economy, steps have been taken according to the […]
Experts discuss framing a green development pathway for Sri Lanka
Experts from the government, private sector, UN agencies, think tanks, and other development partners, came together at this week’s kickstarter sessions of the Colombo Development Dialogues on Green Development, held on 12 and 14 October 2021. With over 450 participants joining in virtually, they sought to come to a common understanding of a localised, Sri […]
New Circular on issuing mining, transportation & trade permits for metals, sand, soil, gravel & clay
A new Circular will be issued to give effect to the process of issuance of permits for mining, transportation and trade of metals, sand, soil, gravel and clay.The President appointed a Presidential Task Force to study the exploitation of Geological resources for development, priorities and self-employment and to meet micro level economic livelihood needs of […]
”; Removes Negative Watch
Fitch Ratings has downgraded Bimputh Finance PLC’s National Long-Term Rating to ‘CC(lka)’ from ‘B-(lka)’. The rating has been removed from Rating Watch Negative. The downgrade reflects Fitch’s view that Bimputh’s liquidity and refinancing risk has risen significantly, driven by a persistent decline in asset quality, while it faces further delays in restoring its regulatory capital […]
USAID’s Private Sector Development project signs MOU with HNB to expand financing to MSMEs
The U.S. Agency for International Development’s (USAID) Private Sector Development project signed a Memorandum of Understanding (MOU) with Hatton National Bank PLC (HNB) to expand financing to micro, small, and medium enterprises (MSMEs) in Sri Lanka. “Partnerships like this can dramatically enhance economic and social impact more than any of us could achieve on our […]
Swarnamahal Financial Services to resume business for 6 months for limited purpose
The Monetary Board of the Central Bank has made an order permitting Swarnamahal Financial Services PLC (SFSP) to resume business for a limited period of six (06) months with effect from 13.10.2021, for the purpose of exploring the possibility of absorbing the Company to the “Master Plan for Consolidation of Non-Bank Financial Institutions Sector”. The […]
Sri Lanka 2022 budget appropriation bill initial observations: ICRA
Key takeaways § Decline in total expenditure is achieved at the expense of the capital spending § Capital heavy ministries take capex cuts while personnel heavy ministries get a boost for recurrent expenditure § Allocation of defense and security related SUs is strengthened § Overall health related allocation is increased by nearly LKR 7 Bn § Total expenditure allocation on […]