Category: Industry
Lanka Property Web says SL real estate market stable despite pandemic
“Since the turn of the year there has been an increase in real estate activity by property buyers and sellers”, said Sri Lanka’s leading property portal LankaPropertyWeb. The company stated that a comparison between the number of visits to lankapropertyweb.com during the month of January in 2020 and 2021, showed an increase of 23% while […]
Sampath Bank report slight decline in profits for 2020
Financial Performance for the Year 2020 Sampath Bank recorded a decline in Profit After Tax (PAT), from Rs 11.1 Bn in 2019 to Rs 8 Bn for the year 2020. Despite this being a 28% decline, it is nonetheless a noteworthy result against the backdrop of the COVID-19 induced economic slowdown locally and globally. Meanwhile, […]
Exemption of landing charges for Mattala & Ratmalana Airports further extended
Sri Lanka’s Cabinet nod has been received to extend the exemption of landing and parking charges for Mattala Rajapaksa International Airport and Rathmalana International Airport till July 19, 2021. At the Cabinet meeting held on 21 December 2020, the Cabinet approved to exempt international charter flights from landing charges as an incentive to attract Airlines.
PUCSL approves power purchase deal to build 300MW Kerawalapitiya LNG power plant
The Public Utilities Commission of Sri Lanka (PUCSL), the electricity sector regulator has approved the power purchase agreement to build a 300 MW Kerawalapitiya Liquid Natural Gas power plant in Sri Lanka under the new chairmanship and the board members last week (13 Feb 2021). The power purchase agreement will be signed by the Ceylon […]
John Keells IT earns highly acclaimed SAP on Azure Advanced Certification
John Keells IT, a leading boutique consulting and professional services company and one of the pioneers in driving cloud adoption in the region, has achieved the rare feat of “SAP on Azure Advanced Certification” demonstrating its long-term commitment to the leading technology partners: SAP & Microsoft. “We are very pleased to attain the SAP on […]
Resus Energy connects first of its ground-mounted Solar PV power plants to national grid
Diversifying its portfolio, Resus Energy PLC, a forerunner in renewable energy, operating a number of mini-hydropower stations in Sri Lanka, recently connected the first of its ground-mounted Solar PV plants to the national grid. The development rights were secured from a government tender floated under the Sooriya Balasangramaya programme to procure 60 x 1MW Solar […]
PM opens new manufacturing facility of seafood exporter Ceylon Catch
The new fish manufacturing facility of Ceylon Catch (Pvt) Ltd. was declared open by Prime Minister Mahinda Rajapaksa on Thursday at Dankotuwa. The company is one of Sri Lanka’s leading exporters of seafood to the United States, Japan, Canada, China, Thailand, and Taiwan. Their tuna is line-caught, traceable to the point of catch, and certified […]
Eco-Spindles breaks ground on new polyester yarn facility
Aims to double polyester yarn production by 2022 2,300 tonnes of waste plastic bottles recycled in 2019/20 Targeting export demand for recycled polyester fabrics Pioneering Sri Lankan plastic bottle recycler and manufacturer of polyester yarn and monofilaments, Eco-Spindles (Pvt.) Ltd commenced Phase 2 of its expansion strategy to add 20,000 sq.ft of production space […]
SLT Group’s operating profit for 4Q 2020 grew by 27-pct, revenue recorded at Rs. 24Bn
Sri Lanka Telecom PLC (SLT) Group concluded financial year 2020 on a high note, with a significant 25% YoY growth in profit after tax to Rs. 7.9 Bn, despite many challenges faced by the Group arising from the COVID-19 pandemic. Group revenue climbed to Rs. 91.1 Bn for the year with a 6% YoY growth, […]
People trust robots more than themselves with money
Research shows growing confidence among consumers and business leaders that robots handle finance tasks better than people 2020 has changed our relationship with money and people now trust robots more than themselves to manage their finances, according to a new study by Oracle and personal finance expert Farnoosh Torabi. The study of more than 9,000 […]
BMICH and SriLankan Airlines in agreement to help sustain MICE tourism
SriLankan Airlines together with the country’s premier meeting, events, and function hosting venue BMICH, have come together to promote MICE tourism in Sri Lanka. This agreement between two pioneers in their respective fields will serve to reinforce the positioning of Sri Lanka as a key MICE destination in the future. Sri Lanka’s premium venue for […]
Emirates boosts services to Colombo, offering customers 6 weekly flights
Emirates has announced it will increase its services to Colombo from four to six weekly flights – with a fifth weekly flight commencing 18 February (every Thursday) and a sixth weekly flight commencing 27 February (every Saturday). The two additional services will serve market demand and offer customers enhanced connectivity to/from Colombo, via Dubai. The […]