Category: Industry
Sri Lankan Insurers to Tackle Profitability Pressure with Key Shifts: Fitch Ratings
Underwriting profitability for Sri Lankan non-life insurers will gradually improve as they enhance practices and shift focus to more profitable non-motor segments, Fitch Ratings says in a new report. This shift includes adjusting policy pricing, particularly for motor and medical insurance, to better cope with inflation and rising claim costs. Motor insurance profitability faces challenges […]
TRCSL Approves Starlink Satellite Broadband Tariff Plans
The Telecommunications Regulatory Commission of Sri Lanka (TRCSL) has officially given the green light to tariff plans for ‘Starlink’ satellite broadband services, which will be deployed through ‘Starlink’ Lanka (Private) Ltd.
SLT-MOBITEL completes historic SEA-ME-WE 6 Submarine Cable landing in Matara
SLT-MOBITEL has successfully landed the SEA-ME-WE 6 (Southeast Asia-Middle East-Western Europe 6) submarine cable in Matara, Sri Lanka on December 29, 2024, achieving a historic breakthrough in Sri Lanka’s telecommunications infrastructure. The cable system will be in commercial operation by mid-2026. The Matara landing was completed in collaboration with Subcom LLC, USA, and under an […]
SLPA Achieves Record-Breaking Container Throughput in 2024 Despite Competition
In 2024, the Sri Lanka Ports Authority (SLPA) terminals achieved a record-breaking throughput of 2.41 million TEUs amidst intense competition. SLPA alone contributed 2,413,012 TEUs, underscoring its crucial role in the port’s performance despite ongoing construction at both terminals. The Port of Colombo, in conjunction with other terminals, also reached a historic milestone with a […]
New perceptions study: Sri Lanka excels in tourist visa accessibility, boosting global tourism appeal
Sri Lanka comes in 33rd globally for ‘easy to get visa’. Colombo climbs six places to come in 57th for ‘leader in science and technology’. Sri Lanka’s capital ranks 74th for ‘accessible and good quality healthcare’. London, New York, and Paris remain world’s top 3-ranked cities across all metrics, as Tokyo and Dubai rise to […]
Sri Lanka CERT Appoints New Chairman: Thilak Pathirage
A new board of directors have been appointed by Secretary to Treasury on the recommendation of his excellency the President Anura Kumara Dissanayake, in his capacity as Minister of Digital Economy. The newly appointed Board, comprising ten members, convened recently, and Mr. Thilak Pathirage, a senior cybersecurity professional was elected as the Chairman. Thilak Pathirage […]
Emirates to introduce additional flights to/from Colombo
Emirates, the world’s largest international airline, will operate an additional scheduled service between Colombo and Dubai, starting from 2 January 2025. The newly-introduced flight, to operate as EK654/655, increases the seat capacity on the route by 30 percent and supports Sri Lanka’s plans to considerably increase tourist arrivals in 2025. The additional service will operate […]
JAAF partners with GTEX to drive textile innovation and competitiveness in Sri Lanka
Sri Lanka took another significant step toward textile circularity with a four-day program under the GTEX Phase II initiative, organized by the International Trade Centre (ITC) and funded by the Swiss State Secretariat for Economic Affairs (SECO). The event, which combined a two-day training-of-trainers session with a workshop on Circular Economy Business Models for the […]
Opinion: Embracing change, charting a brighter future for Sri Lanka’s plantation industry
By Sunil Poholiyadde, Chairman of the Planters’ Association of Ceylon For 170 years, Sri Lanka’s plantation industry has stood the test of time. Despite continuous upheavals, it has managed to adapt and endure. Over this period, the ownership structure of the industry underwent significant changes—from 124 years of British colonial ownership to the post-independence era […]
HIP container handling aims to capture the Relay market
As Hambantota International Port (HIP) gears up to enhance its container operations with the introduction of advanced crane technology in early February 2025, Wilson Qu, CEO of Hambantota International Port Group (HIPG), emphasized the port’s commitment to exploring untapped markets to expand its portfolio. This strategic initiative aims to significantly boost container volumes and solidify […]
Ambeon Holdings PLC Increases Stake in Seylan Bank and Strengthens Financial Services Footprint
Ambeon Holdings PLC, a diversified conglomerate with a strong presence across multiple sectors, continues to strengthen its position in Sri Lanka’s financial services industry through strategic investments. Recently, the company increased its stake in Seylan Bank PLC by 0.98%, bringing its total holding to 8.61% of the bank’s ordinary voting shares. This move underscores Ambeon’s […]
Stay Safe, Pay Safe & Avoid Festive Frauds – Visa Shares Tips for Consumers This Festive Season
With the holiday season now underway, Visa, the global leader in digital payments, reminds shoppers to stay vigilant amidst a rise in fraud schemes. Visa’s Payment Ecosystem Risk and Control (PERC) team released the 2024 Holiday Threats Report, outlining common methods fraudsters use to steal money, data, and account details while people plan their festivities. […]