Category: Industry
Japan to Invest in Sri Lanka’s Digital Transformation and Port Development
President Anura Kumara Disanayake met with Ambassador of Japan to Sri Lanka, H. E. Mr. Akio ISOMATA, this morning (27) at the President’s Office. During the meeting, the Ambassador officially invited President Disanayake to visit Japan and expressed appreciation for the new government’s policy framework. The Japanese Ambassador stated that efforts have been made to […]
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Sri Lanka’s Central Bank has issued a warning regarding the unauthorized use of the terms ‘finance,’ ‘financing,’ and ‘financial’ in business names and descriptions. According to Section 10(2) of the Finance Business Act, No. 42 of 2011, only licensed finance companies and certain specified institutions are permitted to use these terms, either alone or in […]
First Set of Vehicle Imports to Arrive at Hambantota International Port
The first set of vehicle imports for the local market after the ban was lifted will arrive on Thursday, the 27th at midnight, the Hambantota International Port said. The lifting of the import ban, which had been in place since early 2020, has been met with both anticipation and concern. The reintroduction of vehicle imports […]
CBL Group expands global footprint with entry into Kenya
CBL Group, a food conglomerate, has entered the Kenyan market by establishing a distribution hub as part of its strategic move to strengthen exports and establish a foothold in East Africa. This expansion aligns with the company’s long-term growth strategy to extend its global reach and cater to new consumer segments. “We are in the […]
JAAF welcomes budget 2025, calls for caution on removal of SVAT
Similarly, initiatives such as the National Single Window, e-cargo tracking, scanners, revisions to Customs law, and improvements in logistics and Customs yards are crucial steps toward enhancing ease of doing business. Measures such as revisiting the Economic Transformation Act and introducing the proposed Investment Protection Bill will further strengthen investor confidence and drive export growth. […]
Dredging Operation at Hambantota International Port to Restore Harbor Depth
The Hambantota International Port (HIP) began maintenance dredging this month in order to restore the harbour’s original depth. The operation undertaken by HIP to ensure the continued safe navigation of vessels began early February and is expected to be completed in approximately two months. This project will return the harbor to its declared specifications by […]
Pan Asia Bank Announces Performance with a PAT of over 4.1 bn for FY 2024
Net Interest Income – Rs. 12.13 billion, up by 18% Net Fee and Commission Income – Rs. 1.90 billion, up by 24% Operating Profit before Taxes on Financial Services – Rs. 7.90 billion, up by 137% Profit before Tax – Rs. 6.03 billion, up by 159% Profit after Tax – Rs. 4.13 billion, up by […]
Discussion at SLCERT Highlights Cybersecurity Measures Aligned with Digital Economy Policy
A discussion was held at the Sri Lanka CERT under the initiative of Dr. Hans Wijesuriya, Senior Advisor to the President on Digital Economy Affairs, to emphasize the importance of taking necessary steps to strengthen the cybersecurity process in alignment with the government’s digital economy policy. The event was attended by Thilak Pathirage, Chairman of […]
Govt Allocates Rs. 20 Bn to Sign Deal with Banks for SriLankan Airlines Legacy Debt Settlement
To address the financial burdens of SriLankan Airlines (SLA), the government has announced a plan to settle the airline’s legacy debt. Despite previous governments’ attempts to divest state ownership and attract private investment, SLA continues to play a crucial role in the transportation of passengers and cargo by air. To alleviate the financial strain, the […]
Budget 2025: Capital Gains Tax Rate Increased to 15-pct for Individuals & Partnerships
The Capital Gain Tax (CGT) rate applicable for individuals and partnerships will be increased to 15%. The CGT rate applicable for all other entities will be raised to 30% in par with the corporate capital gains tax rate.
Unveiling Key Insights from IDC’s Microsoft Commissioned Study
As artificial intelligence (AI) evolves from being a technological buzzword to a business imperative, a recent study commissioned by Microsoft to the International Data Corporation (IDC), titled The Business Opportunity of AI, reveals a crucial shift: businesses are no longer asking if they should integrate AI but rather how to do so strategically to gain […]
Oracle Considers Colombo Port City for South Asian AI and Cloud Hub
President Anura Kumara Disanayake met with the Executive Vice Chairman of Oracle Corporation Mike Sicilia during the World Governments Summit held in the United Arab Emirates yesterday (11). The discussion focused on Sri Lanka’s digital transformation, the adoption of fintech services, and cloud infrastructure to enhance economic and governance efficiency. Oracle expressed its willingness to […]