Category: Industry
Hambantota International Port records High Growth in LPG operations in second quarter 2024
The Hambantota International Port’s (HIP) second quarter report on LPG operations records an increase of approximately 100% in volumes handled compared to 2023 numbers. Bunker volumes at the port have also increased considerably by almost 128%. Building on this success, HIP has expanded its services to accommodate diverse oil and gas operations, including LPG vessel […]
Downtown Duty-Free Mall at Port City Colombo geared up for opening as operators get BSI status
Port City Colombo announced that China Duty Free (CDF) and One World Duty Free (ODF) have been granted status as Businesses of Strategic Importance (BSI) by the Cabinet, according to an official Cabinet media statement released on 10th July 2024. This approval paves the way for the commencement of travel retail operations at the upcoming […]
Orient Finance PLC Welcomes Daniel Alphonsus as Independent Non-Executive Director
Orient Finance PLC, a member of the Janashakthi Group, announces the appointment of Daniel Alphonsus as an Independent Non-Executive Director to the Company’s Board of Directors, effective from 5th of July 2024. Daniel spearheads Daraz’s payments, financial services, and digital goods divisions across South Asia. In addition, he serves on multiple economic reform committees for […]
Sri Lanka seeks collaboration with Singapore Cyber Agency and Infocom Media Development Authority
Sri Lanka’s quest for enhanced cybersecurity and digital transformation received a positive response from Singapore during a high-level meeting on July 1st, 2024. Following discussions between Sri Lanka’s High Commissioner to Singapore Senarath Dissanayake and Singapore’s Minister for Communications and Information Josephine Teo, Singapore expressed willingness to explore avenues for collaboration. Minister Teo acknowledged Sri […]
Sri Lanka Clarifies Status of Continental Shelf Claim and Cobalt Exploration
The Sri Lankan Ministry of Foreign Affairs issued a statement addressing recent media reports concerning the country’s continental shelf claim and cobalt exploration efforts. The Ministry stated that recent media speculations about Sri Lanka ceding its rights are unfounded. Both matters are ongoing processes before separate UN bodies established by the UN Convention on the […]
ComBank Bangladesh operations receive ‘AAA’ credit rating by CRISL
Commercial Bank Bangladesh, the Bangladesh operation of Commercial Bank of Ceylon PLC, has received a ‘AAA’ (Triple A) Long Term credit rating from Credit Rating Information and Services Ltd (CRISL) for 2024, the 14 th consecutive year it has received the highest credit rating given to a financial institution in Bangladesh. Valid till June 2025, […]
SL’s IT and BPM sector urges reconsideration of tax measures affecting export services: SLASSCOM
In light of the recent communication regarding the removal of the exception on the export of services, we, the Sri Lanka Association of Software and Services Companies (SLASSCOM), the Federation of Information Technology Industry Sri Lanka (FITIS), the BCS Sri Lanka Section (BCS), and the Computer Society of Sri Lanka (CSSL) share our collective thoughts […]
Sri Lanka urged to tap sustainable bonds for economic and environmental progress: ADB
The Asian Development Bank (ADB) urged Sri Lanka to ramp up its growth efforts while tackling climate change challenges, emphasizing the potential of green bonds to meet the country’s financial needs. ADB Country Director Takafumi Kadono highlighted that public sector funding alone is insufficient for these efforts, making it essential to mobilize private financing through […]
Emirates announces exclusive fares for Sri Lankan travellers booking trips to Europe and USA
Emirates has announced special fares exclusive to Sri Lanka, enabling travellers from Colombo to enjoy journeys to Europe and North America while flying better. Inclusive of 20 popular destinations, the special fares allow Emirates customers to reap savings while enjoying the airline’s world-class services across all cabins. The limited-time only special rates enable passengers to […]
CEAT tyres roll into Brazil, expanding brand’s export footprint
Brazil, the country that gave the world natural rubber, has become the latest export market for CEAT tyres manufactured in Sri Lanka. CEAT Kelani Holdings recently despatched its first export consignment of tyres to Brazil, the second country in South America to join the Company’s international footprint, which covers 16 countries. The commencement of exports […]
Joint Chambers of Commerce Urge Customs Officials to Prioritise National Interests Above Personal Issues
The Joint Chambers of Commerce urge the Customs Officers to call off the ongoing work to rule, and the strike planned for the 4th and 5th of July. The current work to rule action has caused significant delays in clearing import cargo, resulting in supply chain disruption, and delays in production and delivery. The delay […]
SL and Singapore explore strengthening cooperation in maritime, port development and aviation sectors
High Commissioner of Sri Lanka to Singapore Senarath Dissanayake met with Minister for Transport and Second Minister for Finance of Singapore Chee Hong Tat, recently and discussed potential collaboration between the two countries on shared initiatives. During the meeting, High Commissioner Dissanayake provided an overview of the opportunities in Sri Lanka, particularly in the maritime […]