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SLTC divests from Sri Lanka Telecom in management buy-out
A management buy-out backed by Tempest two (Pvt) Ltd is gearing to acquire SLT Campus (Pvt) Ltd (popularly known as Sri Lanka Technological Campus) from Sri Lanka Telecom PLC in order to launch SLTC towards its ultimate objective of being Sri Lanka’s first and most recognized research-oriented university. Having been initiated and funded by SLT, […]
VIDEO: How Bad Can Inflation Be? Turkey Offers a Warning
As the Federal Reserve and other central banks around the world deal with rising inflation amid the economic recovery from the pandemic, Turkey – where the rate is currently over 20% – offers a warning. Soaring inflation has led to economic turmoil after years of broad growth.
LOLC General Insurance Limited IPO oversubscribed on opening day
The Initial Public Offering (IPO) of LOLC General Insurance Limited, through an Offer for Sale of 120,000,000 Ordinary Voting Shares at a price of Rs. 7.90 per Share, which opened yesterday (16th December 2021) was oversubscribed on the initial day itself. The IPO by LOLC General Insurance Limited received applications for over the IPO value […]
JICA supports Jaffna University towards improvement of dry zone agriculture
Japan International Cooperation Agency (JICA), the Ministry of Education, and the University of Jaffna agreed to implement JICA’s new technical cooperation named ‘The Project for Research and Education Capacity improvement in Dry Zone Agriculture at University of Jaffna’. Prof. Kapila C. Perera, Secretary, Ministry of Education, Prof. S. Srisatkunarajah, Vice-Chancellor, University of Jaffna, and Yamada […]
PUCSL to empower 10,000 plumber technicians with NVQ qualification
The Public Utilities Commission of Sri Lanka (PUCSL), the regulator of the electricity industry and the designated regulator for water services industry entered into a Memorandum of Understanding with Tertiary and Vocational Education Commission (TVEC), Vocational Training Authority (VTA) and National Apprentice and Industrial Training Authority (NAITA) on 14th December 2021 to provide free National Vocational […]
Legal framework to be created for E-Commerce in Sri Lanka
Sri Lanka will introduce a new law that would ensure fairness and protection of rights for both businesses and consumers who use online E-Commerce platforms. A discussion was held at the Ministry of Justice with the representatives of several leading online trading platforms about the need for a strong legal framework for the industry. The […]
Coconut seedlings, Tea & cinnamon plants free of charge for cultivation: Plantation Minister
Plantation Minister Ramesh Pathirana says that the government has decided to provide 2.3 million coconut seedlings to the public at the Divisional Secretariat level next year. The government will also provide tea plants free of charge by obtaining tea plants owned by the Tea Small Holdings Development Authority. Financial assistance will also be provided for […]
Allocation of shares for First Capital Treasuries IPO concluded
Sri Lanka’s leading non-bank primary dealer, First Capital Treasuries PLC, a subsidiary of First Capital Holdings PLC, saw its Initial Public Offering (IPO) being oversubscribed 4.5 times within hours on its opening day and the offering was closed on the same day, as indicated in the prospectus. First Capital Treasuries received 1,991 applications amounting to […]
Sri Lankan economy contracted by 1.5-pct in 3Q 2021
Sri Lanka’s Department of Census and Statistics revealed that the economic growth rate for the third quarter of 2021 is estimated as a negative growth rate of 1.5 percent amidst the third wave of the Covid-19 pandemic. In the third quarter of 2021, the overall Agricultural activities recorded a slight positive growth of 1.7 percent. […]
Sri Lanka’s path to recovery: Restoring human capital in post-pandemic world
Highlights COVID-19 has had a devastating impact on human capital worldwide and has reversed valuable gains made over the past decade. Recovery efforts require a renewed commitment and investment in human capital which focuses on establishing robust and resilient systems to reduce exposure and vulnerability to shocks. Sri Lanka could benefit by bringing together key […]
‘s first Bonded Warehouse Project
Prime Minister Mahinda Rajapaksa was on a multi-faceted inspection tour of the Hambantota International Port (HIP) to appraise the ongoing development projects at the port. The Prime Minister was accompanied by H.E. Qi Zhenhong, Ambassador of China to Sri Lanka. The PM’s visit also coincided with the port achieving the milestone of 500,000 RORO vehicles […]
Sri Lanka is being pushed towards bankruptcy; budget does not address any burning issues: Eran
The country has plunged into a massive financial crisis, with all sectors including the economy collapsing but the budget 2022 has no proposals to resolve any of the burning issues said Eran Wickramaratne addressing the final debate of the budget 2022 held in Parliament on Friday. “At a minimum this government should properly identify the […]