Category: Industry
SL High Commission in London hosts ‘Sri Lanka Business Drive 2024’
The High Commission of Sri Lanka in London in collaboration with the Commonwealth Enterprise and Investment Council (CWEIC) organised ‘Sri Lanka Business Drive 2024’, an interactive Roundtable discussion on investments at the High Commission on 02 February 2024. The event was presided over by High Commissioner of Sri Lanka to the United Kingdom Rohitha Bogollagama. The […]
Atlas empowers schoolchildren to conquer their dreams through joyful learning
Inspiring education for over 60 years, Atlas has been a cherished foundation in turning students’ dreams into vibrant realities by infusing joy into their learning experiences. Atlas has gone beyond its role as a leading stationery provider in Sri Lanka, offering a holistic learning experience to schoolchildren. Over the years, Atlas has tirelessly worked towards […]
Eran: Is Sri Lanka the only country where inflation decreases when commodity prices continue to increase?
Samagi Jana Balawega MP Eran Wickramaratne said that Government by appointing a committee to review the compliance of the MoUs signed with foreign countries proves the government and the administration has no experience international relations. The President within 18 months of his coming to power has visited 14 countries and has signed several Memorandum of […]
‘s new President Heshana Kuruppu unveils visionary roadmap for next two years
Heshana Kuruppu, the newly elected President of the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka), who recently assumed office as the 27th President of the National Body of Accountants, outlined a visionary roadmap for the next two years. Focused on the core values of Collaboration, Excellence, Nurturing, and Integrity, and under the […]
PetDoc wins gold and silver at NBQSA National ICT Awards
PetDoc, the trailblazer in pet health services in Sri Lanka, is thrilled to announce its recent achievements at the NBQSA National ICT Awards 2023. Recognizing PetDoc’s unwavering commitment to excellence, the prestigious Gold Award in the Health and Well-being category and the Silver Award in the Best Startup category have been bestowed upon the organization. […]
CCC Outlook 2024: Anticipated rebound depends crucially on effective debt restructuring
The 9th edition of the annual flagship Outlook Report for 2024 by The Ceylon Chamber of Commerce was recently launched at the Economic Outlook 2024 seminar. Dr. Nandalal Weerasinghe, Governor of the Central Bank of Sri Lanka, delivered the keynote address at the launch event. Compiled by the Economic Intelligence Unit (EIU) of the Ceylon […]
All Island Dairy Association raises alarming concerns about detrimental impact of VAT
The All Island Dairy Association (AIDA) has voiced grave concerns regarding the Sri Lankan government’s proposed increase in the Value Added Tax (VAT) from 15% to 18%, set to take effect on January 1st, 2024. This move, intended to broaden the tax base, could have severe repercussions for the dairy sector, a vital contributor to […]
Hidden Fees in Electronic Card Payments: A Call for Action
Sumedha Amarasinghe, the Deputy Secretary of the Association of Leasing and Debt Instalment Payers, has highlighted a significant issue with electronic card payments in a recent media disclosure. Amarasinghe noted that some institutions deduct an additional 1% to 5% from customers when they pay with an electronic card. This practice is an issue, as customers […]
Power Purchase Agreement for 100 MW Ground Mount Solar Power Project in Siyambalanduwa
A power purchase agreement for the 100 MW Ground Mount Solar power project in Siyambalanduwa was signed by Rividhanavi (Pvt) Limited with CEB today. The project was advertised by the CEB for a competitive bidding process in September 2022, evaluated in 2023, and was awarded to the lowest & successful bidder at the end of […]
Hemas Holdings reports revenue growth of 10.3-pct in 2023/24 first nine months performance
Amidst the backdrop of relatively stable operating conditions in the domestic economy, Hemas Holdings PLC (HHL) demonstrated a steady performance in the first nine months of the financial year 2023/24, achieving a cumulative revenue growth of 10.3 percent amounting to Rs. 90.2 billion. Operating profits for the period mirrored the revenue growth, reaching Rs. 8.8 […]
Relaxation of restrictions imposed on standing facilities
The Central Bank of Sri Lanka introduced restrictions on the usage of the Standing Facilities by the Licensed Commercial Banks (LCBs) under the Open Market Operations (OMOs), with effect from 16 January 2023 Accordingly, access to the Standing Deposit Facility (SDF) was limited to a maximum of five (05) times per calendar month, while access […]
‘s economic sovereignty
Sri Lanka, facing internal and external challenges, grapples with the aftermath of its external debt crisis, exacerbating existing economic issues. The Easter attacks, COVID-19 pandemic, global conflicts, and economic mismanagement have pushed Sri Lanka back to seeking IMF assistance. Despite government efforts, widespread poverty persists, exacerbated by low-pay and unemployment. The civil society warnings about […]