Category: Industry
Sri Lanka tourist arrivals up in Feb 2023
Tourist arrivals increased in February 2023 to 107,639, compared to 102,545 arrivals recorded in January 2023 and 96,507 recorded in February 2022, data from the Central Bank of Sri Lanka shows. Russia, India, the United Kingdom, Germany, and France remained the main source countries for tourist arrivals in February 2023. Earnings from tourism in the […]
Dutch companies exploring investment opportunities in renewable energy and sustainable agriculture: Envoy
The Dutch companies are eager to explore investment opportunities in renewable energy, eco-labeling and sustainable agriculture, if Sri Lanka can showcase a corruption free business environment, Her Excellency Bonnie Horbach, Ambassador to the Kingdom of the Netherlands in Sri Lanka stated at a meeting with the leadership of the Ceylon Chamber of Commerce, during Her […]
PickMe reduces prices further on their km rate
PickMe says it will continue to be market leaders in prices in the taxi-hailing market with them further bringing down the charge per kilometre to Rs.68. “The current slashing of petrol prices by CPC will be passed down to the passenger and we will continue to give value to the driver who works in the […]
ITC meets Min of Trade to present e certificate of origin system for SL exporters
Nalin Fernando, Minister of Trade, Commerce and Food Security in Colombo was presented the new Electronic Certificate of Origin (eCoO) system by the International Trade Centre (ITC) team, led by Ms. Raghad Altalli, Programme Manager and Trade Facilitation Advisor. The new eCoO system, implemented by the Department of Commerce (DoC), is a fully digital solution […]
ComBank launches LankaPay cards in Sri Lanka
Sri Lanka’s payment cards domain took a giant leap today when the Commercial Bank of Ceylon in collaboration with LankaPay launched a national credit and debit card with international acceptance. This National Card Scheme is an initiative implemented by LankaPay in partnership JCB International Co. Ltd, the Japan-based international card, with over 150 million cardholders […]
Singapore Airlines Launches Boeing B787-10 on Colombo-Singapore Route
Singapore Airlines commenced operation of Boeing B787-10 Dreamliner between Colombo and Singapore on 27 March 2023. Constructed using lightweight composite materials, the 68-metre B787-10 is the longest variant of Boeing’s Dreamliner range. Passengers can look forward to a comfortable journey, experiencing large electronically dimmable windows, low cabin altitude, generous headroom, and a quiet and smooth […]
”; Outlook Negative
Fitch Ratings has downgraded Sri Lanka- based apparel manufacturer Hela Apparel Holdings PLC’s National Long-Term Rating to ‘AA-(Ika)’, from ‘AA(Ika)’. The Outlook is Negative. The downgrade is based on our forecast that Hela’s interest coverage and leverage will weaken to below our negative rating sensitivities in the financial year ending March 2023 (FY23) and FY24. […]
CEB announces planned maintenance schedule for power plants
The Ceylon Electricity Board has announced the planned maintenance schedule for CEB power plants for the year 2023 after analysing more than twenty scenarios. During the latter part of November 2022, the Ceylon Electricity Board conducted several planning exercises to prepare the electricity dispatch schedule for the year 2023. CEB further stated that they analyzed […]
Trincomalee has been identified as a potential port for green hydrogen, says President
Sri Lanka’s President points out that Trincomalee has been identified as a potential port for green hydrogen due to its proximity to the North, which has abundant sources of green hydrogen, renewable energy, and strong wind power in Sri Lanka. President Ranil Wickremesinghe said this during a meeting with investors who attended the Sri Lanka […]
We have not authorized anyone to operate cryptocurrency schemes in Sri Lanka, warns CBSL
Sri Lanka’s Central Bank says that they have not issued any licence or authorized any individual or business to operate schemes involving cryptocurrency, and has not authorized any Initial Coin Offerings (ICOs) or any variant of it, cryptocurrency mining operations, cryptocurrency exchanges, deposit-taking or custody services related to cryptocurrency or any cryptocurrency investment advisory service. […]
”’ Rating on Watch Positive following proposed disposal
Fitch Ratings has placed Sri Lanka Telecom PLC’s (SLT) National Long-Term Rating of ‘A(lka)’ on Rating Watch Positive (RWP) reflecting the potential rating upside due to weakening linkages with SLT’s parent, the government of Sri Lanka (Long-Term Local-Currency Issuer Default Rating: CC), due to the government’s plan to sell its 49.5% stake in the company. […]
Innovative Digital Marketplace to Help Sri Lanka’s Small Businesses
To expand the reach of small and medium enterprises (SMEs), including women-owned small businesses, the International Finance Corporation (IFC) is supporting the Commercial Bank of Ceylon (CBC) launch a digital marketplace in Sri Lanka, helping business owners connect with more customers locally and abroad. Named Commercial Bank LEAP, this one-of-its-kind initiative, which is supported under […]