Category: Industry
‘s lubricant market liberalization
The cabinet has approved a proposal presented by the Minister of Power and Energy to call for applications requesting qualifications to select new entrants to the lubricants market in order to provide the opportunity for high-quality, innovative and competitive products to enter the Sri Lankan market. The Ceylon Petroleum Statutory Corporation Act No.28 of 1961 […]
SLASSCOM to lead sustainability practices in IT/BPM sector
With environmental, social and governance (ESG) principles taking center stage due to the pressing climate issues and the “code red for the planet” SLASSCOM, the national chamber for the IT/BPM industry in Sri Lanka, has prioritized the need to embed ESG across the IT/BPM industry and has been instrumental in encouraging it’s membership to adopt […]
Third Round of SL – Thailand FTA negotiations scheduled to commence tomorrow
The third round of negotiations between Sri Lanka and Thailand on the proposed Free Trade Agreement (FTA) will be held on January 9 and 10th, 2023, in Colombo, with the participation of 26 official delegates from Thailand headed by Auramon Supthaweethum, Director General of the Department of Trade Negotiations, advancing the government’s agenda of expanding […]
Central Bank introduces measures to reduce overdependence on Standing Facilities
The liquidity deficit in the domestic money market, which remained significantly high during the first half of 2022, declined in the latter part of 2022. However, in spite of the improvements in money market liquidity conditions, market interest rates continued to remain high, partly due to subdued activity in the domestic money markets. At the […]
ComBank introduces ‘Visa Direct’ & ‘Mastercard Send’ card-to-card fund transfers – a first in SL
The Commercial Bank of Ceylon has announced the enabling of ‘Visa Direct’ and ‘Mastercard Send’ card-based fund transfer facilities for the first time in Sri Lanka. With this latest digital initiative of Commercial Bank, Visa and Mastercard Debit and Prepaid cardholders can transfer funds to any locally-issued Visa and Mastercard Debit, Credit or Prepaid card […]
Ten resolutions for your professional success
In an earlier article, I shared certain learnings that I have gained over the years for an organisation to be successful when implementing information technology initiatives. There were six key learnings which I articulated in my article – customer (ie citizen) centric mindset when conceptualising initiatives, getting the internal processes right first over blind automation […]
David Cameron visits Port City Colombo
Former Prime Minister of the United Kingdom, David Cameron, visited Port City Colombo development project during a private trip to the island. Cameron engaged in a discussion with Reyaz Mihular – Commission Member and Vindhya Weerasekera – Director Legal and Corporate Affairs of the Colombo Port City Economic Commission; Yang Lu – Managing Director of […]
‘s 120 km fiber line in France sets new world record
Paris, France, Huawei and Orange have successfully achieved a new world record 1 of 157 Tbit/s transmission prototype testing over a 120 km fiber on the Orange network in South West France. This technical achievement unequivocally demonstrates that Orange’s current infrastructure is fully prepared for transmission technologies that can take on increasing traffic over the […]
Central Bank directs Kanrich Finance to settle liabilities of depositors
The Monetary Board of the Central Bank of Sri Lanka as a measure to strengthen the Non-Bank Financial Institutions Sector under the ‘Masterplan for Consolidation’ decided to direct Kanrich Finance Limited (KFL) to settle its public liabilities in full within the period from 26.12.2022 to 28.02.2023 in terms of Section 25(1)(m) of the Finance Business […]
USAID, Keells & HNB Partner to Provide USD 4Mn Lending Facility in Sri Lanka
The United States Agency for International Development (USAID) coordinates with Keells Supermarkets and Hatton National Bank (HNB) on an innovative supply chain financing facility that supports micro, small, and medium-sized enterprises (MSMEs) in the food sector to access capital. Through greater access to capital, this facility reduces the supply chain disruptions that emerged during the […]
Russian Airline Red Wings to operate charter services to Sri Lanka twice a week
Red Wings, one of the leading private airlines of the Russian Federation, will start charter flight operations to Mattala International Airport in Sri Lanka, with effect from the 28th December 2022. This is the third Russian Airline serving direct flights to Sri Lanka. On December 26th 2022, the Ambassador of Sri Lanka to the Russian […]
Hambantota International Port to aggressively promote afloat repairs in 2023
The Hambantota International Port (HIP) is supporting Colombo Dockyard PLC (CDPLC) to handle running repairs to vessels while they remain afloat in the harbour. The majority of vessels directed to HIP for afloat repairs come with damages experienced below the water line. CDPLC carries out permanent repairs on these ships with service assistance from HIP. […]