Category: Industry
Foreigners Can Now Apply for Sri Lankan Driving License at the Airport
In a significant move to facilitate foreign individuals seeking a driving license in Sri Lanka, State Minister of Transport, Lasantha Alagiyawanna, announced a new initiative. Starting from April 15th, 2024, foreigners will be able to apply for a driving license directly at the airport. Upon exiting the airport, they will be able to obtain their […]
Union Bank appoints Dinesh Weerakkody to the Board
The Board of Directors of Union Bank of Colombo PLC announced the appointment of Dinesh Weerakkody a distinguished banker and financial advisor with vast experience as an Independent Non-executive Director, with effect from 01 April 2024. Dinesh Weerakkody is a former Chairman of Hatton National Bank PLC and Commercial Bank of Ceylon PLC and a […]
Tech investor Dr. Cornelius Boersch reaffirms commitment and future investments in SL
Having invested in the tech sector for thirty years across frontier markets spanning South America to Asia, Dr Cornelius Boersch maintains that all markets exhibit similar dynamics. With this perspective, he first visited Sri Lanka in October 2021, emerging as one of the earliest global tech investors to commit to post-COVID recovery through Mountain Lion […]
Sunshine Holdings PLC announces new leadership appointments
Diversified conglomerate Sunshine Holdings PLC (CSE: SUN) announced that Aruna Deepthikumara, Michelle Senanayake, Dr. T. Sayandhan and Shantha Bandara, who are Executive Committee members of the Group, have been appointed as Executive Directors. Commenting on the appointments, Sunshine Holdings Group CEO Shyam Sathasivam said, “We are excited to announce the elevation of Aruna Deepthikumara, Michelle […]
FitsAir Launches Direct Flights from Colombo to Dhaka, Bangladesh
FitsAir, Sri Lanka’s low-cost airline, is pleased to announce the launch of direct flights connecting Colombo and Dhaka, Bangladesh in April 2024. This move represents a significant milestone in regional aviation, addressing the growing demand for affordable travel options between Sri Lanka and Bangladesh. In light of Bangladesh’s rapidly expanding economy, attracting considerable interest from […]
Commercial Bank integrates an AI-powered Assistant to their Annual Report 2023
March 5, 2024, will go down as a red-letter day for the world’s investor relations community. On this day, Commercial Bank of Ceylon PLC, headquartered in Sri Lanka, integrated an AI-powered Annual Report Assistant (AIPARA) to their Annual Report 2023. It is probably the first of its kind. This innovation addresses a perennial issue and […]
Microsoft joins hands with Sri Lanka in its journey to becoming unstoppable with AI
In a bid to strengthen commitment and partnership towards the South Asia region, Puneet Chandok, the President of Microsoft India and South Asia, made his inaugural visit to Sri Lanka in March 2024, since taking office in September 2023. Building on the two-decade journey of empowering the people of Sri Lanka through Cloud and AI […]
”’; Outlook stable
Fitch Ratings has affirmed Sri Lanka-based telecom company Dialog Axiata PLC’s National Long-Term Rating at ‘AAA(lka) with a Stable Outlook. This reflects our view that Dialog can maintain a credit profile commensurate with a ‘AAA(lka)’ rating in the next 12-18 months, despite slower revenue growth, escalated costs and likely slight higher leverage. Dialog’s rating is […]
First LNG powered vessel calls at Hambantota International Port
The first LNG battery hybrid powered RORO vessel berthed at the Hambantota International Port (HIP) for the discharge of construction machinery and equipment (high and heavy vehicles including airport buses, mobile cranes, etc.). The transshipment cargo is destined for Dammam and Maldives. The Jasmine Leader of NYK Line, which arrived at HIP in the first […]
Ceylon Chamber calls for collaborative solutions on debt recovery framework
The Ceylon Chamber of Commerce is deeply concerned about the decision by the Cabinet of Ministers to temporarily suspend the parate execution law. While we understand that certain businesses essentially in the SME sector need to be supported in the current economic climate, providing that support in the form of curtailing credit recovery measures is […]
CA Sri Lanka Members Chandrika Muhandiramge and Ranjani Joseph clinch top regional awards
Two female fellow members of the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) brought honour to the nation and the local accounting fraternity earlier this month when they clinched top regional awards, outshining many other female accountants from South Asia. Chartered Accountant Ms. Chandrika Muhandiramge was bestowed with the prestigious “Lifetime Woman […]
Backbay Solar and Orbital Energy commissions 2-megawatt capacity solar plants in East
Backbay Solar (private) Limited commissioned 2-megawatt ground-mounted solar power plants in Kommathurai Batticaloa on Sunday 10th March 2024, which are a part of the 1X90 SBS II solar tender under the Ceylon Electricity Board. Backbay Solar is managed by Sino Lanka Power Gen, a leader in commercial rooftop solar installations with approximately 50MW of projects […]