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Hayleys Fabric cuts carbon footprint by 15-pct with Sri Lanka’s largest solar roof
Leading textile manufacturer, Hayleys Fabric further reduced its carbon footprint by 15% with the installation of the largest private sector rooftop solar power system in Sri Lanka, contributing 6,241,500kWh of power per annum to the National Grid. Installed by sister company Hayleys Fentons, the rooftop solar project was set up at Hayleys Fabric’s primary manufacturing […]
Sandra De Zoysa appointed Chairperson of SLASSCOM for 2021/2022
The Sri Lanka Association of Software and Services Companies (SLASSCOM) appointed Sandra De Zoysa as Chairperson for 2021/’22, at the 9th Annual General Meeting held recently. She succeeds PwC Sri Lanka CEO/Advisory Leader Channa Manoharan. Sandra is the Group Chief Customer Officer at Dialog Axiata PLC whose career in the ICT industry spans over […]
VIDEO: Jeff Bezos Responds To Critics After Historic Trip Into Space
After his historic trip into space on Tuesday, billionaire Amazon founder delivered a message to his critics and also laid out a vision for the future.
JAT Holdings IPO oversubscribed
The IPO of JAT Holdings was an oversubscription of 82,904,846 ordinary shares. Priced at a value of Rs. 27 per share, the IPO raised Rs.2.2 billion in funds for the company’s near term objectives of investment in enhancing the existing R&D facility to a fully-fledged, state-of-the-art facility for all coatings, setting up a manufacturing facility […]
‘s Weakening External Finances to Pressure Corporate Ratings: Fitch Ratings
Sri Lankan corporates could face rating pressure should the government further restrict imports amid weakening external finances, Fitch Ratings says in a new report. Fitch expects corporates that import finished goods in sectors that are considered non-essential to be more affected than those that import raw materials for local value addition. Consumer durable importers are […]
Sri Lanka records USD 978Mn exports in June 2021; maintains its upward trend
As per the latest statistics released by the Sri Lanka Customs, the export sector performance has been able to maintain its upward trend in June 2021 with exports increasing by 9.41 % to US$ 978.2 Mn compared to June 2020. This upward trend was evident year-on-year for the last four months. Sri Lanka’s merchandise exports […]
”s Caa1 rating under review for downgrade
Moody’s Investors Service (“Moody’s”) has today placed the Government of Sri Lanka’s Caa1 foreign currency long-term issuer and senior unsecured debt ratings under review for downgrade. The decision to place the ratings under review for downgrade is driven by Moody’s assessment that Sri Lanka’s increasingly fragile external liquidity position raises the risk of default.This assessment […]
Russell Juriansz elected as Chairman of Sri Lanka Shippers’ Council
Sri Lanka Shippers’ Council held its 51st Annual General Meeting on 14 July 2021. Considering the prevailing situation in the country, this year’s AGM was held as a Virtual Meeting connected through Microsoft Teams. Russell Juriansz was elected as the Chairman and Imalka Kumarapeli and risherman Frink were elected as the 1st Vice Chairman as the 2nd Vice Chairman respectively for the year 2021/2022. Committee […]
In Sri Lanka Cash Transfers Give Essential Support to People Hit Hardest by COVID-19: World Bank
When the first lockdown was imposed in March 2020, Nayani’s financial woes worsened overnight. Struggling with partial loss of sight and Chronic Kidney Disease (CKD) the 36-year-old’s meagre savings evaporated like smoke from the incense sticks she sells to make a living. Nayani’s husband is blind and the couple struggled to make ends meet, especially […]
VIDEO: Mastercard banned from issuing new cards in India
India’s central bank has banned Mastercard from issuing new cards in the country due to violation of data storage rules. Mastercard accounted for 33% of card payments in India in 2020 However, the Reserve Bank of India said the firm has had considerable time and adequate opportunities to comply with the data storage rules from […]
Personal Data Protection vs Right to Information – TISL’s recommendations on Data Protection Bill
By Transparency International Sri Lanka: Sri Lanka is on the verge of introducing a bill on Personal Data Protection which aims to regulate the processing of personal data, while identifying and strengthening the rights of data subjects in relation to the protection of personal data. Transparency International Sri Lanka (TISL) has taken steps to create […]
Sri Lanka receives multi-day fishing vessel monitoring system from Australia
Sri Lanka received a multi-day fishing vessel monitoring system that contributes to ensure maritime security, under a financial grant from Australia. Australian High Commissioner David Holly said the monitoring system would help in preventing illegal fishing, ensuring border protection and security in Indian Ocean Region, preventing human and drug trafficking and rescuing fishermen in distressed […]