Category: Industry
Supercharge Your AI with Smart Prompting
Artificial intelligence (AI) has seamlessly integrated into our lives, making its presence felt in everything from managing our schedules to analyzing vast amounts of data. Despite its growing capabilities, you might have noticed that sometimes AI doesn’t quite deliver the results you expect. Ever wondered why that is? Ultimately, it comes down to mastering the […]
Lumala employees urge Government action to save Sri Lanka’s bicycle industry
Employees of Lumala City Cycle Industries Manufacturing Pvt Ltd are calling for urgent government intervention as their company faces an unprecedented crisis that threatens to shut down one of South Asia’s leading bicycle manufacturers. Located at Panadura, Lumala has played a pivotal role in Sri Lanka’s industrial sector for over five decades, yet escalating costs […]
David Pieris Group Launches Northern Entrepreneur Seed Fund
By Jekhan Aruliah I first met Mr David Pieris in 2021. David came for tea at my place in Jaffna on one of his business visits to the North. The David Pieris Motor Company (DPMC) has operated in the North for decades including throughout the Sri Lanka civil war. David told me of his vision […]
Sri Lanka Slashes Electricity Tariffs by 20-pct Effective Midnight
The Public Utilities Commission of Sri Lanka (PUCSL) has announced a reduction in electricity tariffs by 20%, effective from midnight today, for the first six months of 2025. This decision follows a series of public consultations and counter-proposals from the Ceylon Electricity Board (CEB). However, the Ceylon Electricity Board has announced that the revised electricity […]
‘s First State Visit to China
During President Anura Kumara Disanayake’s four-day state visit to China, Sri Lanka marked a significant milestone by securing the largest foreign direct investment to date, the President’s Media Division said. This achievement was formalized this morning (16) with the signing of an agreement between Sri Lanka’s Ministry of Energy and Sinopec, a leading Chinese international […]
Port City Colombo Celebrates Groundbreaking Of Luxury Marina Development
Port City Colombo celebrated the groundbreaking of the Marina Development at Port City Colombo with a special ceremony held on 10th January 2025. The occasion was graced by Chief Guest, Hon. Vijitha Herath, Minister of Foreign Affairs, Foreign Employment & Tourism. Also present at the event were H.E. Qi Zhenhong, Ambassador, Embassy of the People’s […]
””’
Fitch Ratings has upgraded Bank of Ceylon’s (BOC) Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) to ‘CCC+’ from ‘CCC-‘. The ratings do not have an Outlook because of the high volatility at this rating level, in line with Fitch’s rating definitions. Fitch has also upgraded BOC’s Viability Rating (VR) to ‘ccc+’ from ‘ccc-‘, affirmed […]
Hambantota International Port Hits 22-pct Growth in 2024, Bolsters Infrastructure for Future Expansion
Hambantota International Port (HIP) achieved an impressive growth rate of 22% in 2024, matching its performance from the previous year. With its sights set on even higher numbers in 2025, the port is implementing upgrades to its infrastructure, including the introduction of gantry and yard cranes in the container yard. These enhancements are part of […]
Sri Lanka Reports Full-Year Tourist Surge of 38-pct in 2024, December Arrivals up by 18-pct
Foreign tourist arrivals in Sri Lanka increased by 18.18% year-on-year to 248,592 in December 2024, following a 21.6% rise in the previous month, according to data from the Sri Lanka Tourism Development Authority. Among key markets, India (21.3%) remained the top tourist source market, followed by Russia (14.2%), the UK (7.5%), Germany (5.9%), Australia (5.3%), […]
Sri Lanka’s Economy, Hare or Tortoise?
By Jekhan Aruliah I was listening to a very eloquent speaker on YouTube. He commented, as our public speakers often do, that we in Sri Lanka are a blessed nation. Blessed with abundant natural assets, our forests and beaches etc, and copious human talents. And yet this blessed nation is chronically poor and in 2022 […]
Leaf Lanka Takes on Maldivian Investment, Unfolds USD 6M Retreat in Riverstone
Leaf Lanka International (Pvt) Ltd, a company led by the young entrepreneur Hashan Gunathilaka, is set to redefine luxury hospitality in Sri Lanka. The company has recently acquired a 17-acre property in Matale and has embarked on an ambitious $6 million USD project to develop an eco-luxury chalet retreat. This strategic move, backed by Maldivian […]