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Lead Story

COPE meets online for the first time in history

The Committee on Public Enterprises (COPE) of Parliament had Secretaries of three Ministries joining its committee meeting through online (ZOOM) for the first time in history yesterday (26). Accordingly, post the commencement of the COPE Committee yesterday evening under the chairmanship of Prof. Charitha Herath, Secretary to the Ministry of Health (Dr) H.S Munasinghe, Secretary…

(0) Comments | November 27, 2020 10:21 am

Featured

Asia Capital to broad base shareholding to match minimum public float

Leading and pioneering investment bank in Sri Lanka Asia Capital PLC (ACAP) will soon broad base the shareholding to be in compliance with public floating requirements stipulated by the Listing Rues of Colombo Stock Exchange. “We will soon look at opportunities of broad basing our public float to match with Colombo Stock Exchange’s Rules on…

(0) Comments | November 26, 2020 3:39 pm

Daraz further aids the Sri Lanka Police Forces

Earlier this month Daraz donated dry rations to the Sri Lanka Police forces who have continuously been on the frontlines battling COVID-19. Continuing the series of donations, Daraz made a donation of essential items to the Kegalle Police Forces. This was in aid of the police officers who have been actively involved in battling the…

(0) Comments | November 26, 2020 3:23 pm

INSEE Cement continues investment in Mason development across Sri Lanka

Sri Lanka’s leading cement manufacturer INSEE Cement is driving transformation across the local construction industry with significant investments in empowering one of the sector’s key stakeholder groups; the mason. ‘INSEE Sathkara’, a multifaceted initiative to develop local masons powered by INSEE Cement is shaping the mason of the future – a professionally, socially and financially…

(0) Comments | November 26, 2020 3:04 pm

HNB FINANCE celebrates World Children’s Day under stringent health guidelines

Leading integrated financial services provider HNB FINANCE PLC, celebrated children’s day 2020 with a steady focus on identifying and nurturing positive habits and creative expression in children getting educated in rural schools in the country. Sponsored under the company’s popular ‘Yaalu Lama Ithurum Ginuma’, the series of events took place under the stringent guidelines and…

(0) Comments | November 26, 2020 2:58 pm

Crysbro spotlights poultry’s role in bolstering food security and empowering the rural economy

Sri Lanka’s largest poultry producer Crysbro, spotlights the role of the poultry industry in bolstering the country’s food security agenda and empowering the rural economy and its constituents through a series of powerful initiatives. According to the Food and Agriculture Organization of the United Nations, a steady increase in global hunger since 2014 clearly indicates…

(0) Comments | November 26, 2020 2:53 pm

BCS Professional Graduate Diploma in IT: Steppingstone for Professional IT Career

British Computer Society (BCS), The Chartered Institute for IT, with its aim to promote and advance the education and practice of computing through International Higher Education Qualifications (HEQ) have so far empowered over 10,000 students in Sri Lanka who are working for reputable companies both locally and globally. BCS has a Royal Charter which identifies…

(0) Comments | November 26, 2020 2:50 pm

hSenid Mobile Hosts Webinar on Unifying Multi-Cloud Experience with Managed Services with Red Hat

hSenid Mobile, the leading digital solutions provider, in collaboration with Red Hat, the world’s leading provider of open source solutions, today announced that they are hosting a webinar on ‘Unify Multi-Cloud Experience with Managed Services’ on the 26th of November 2020. The outbreak of the global pandemic is driving digital transformation around the world. As…

(0) Comments | November 26, 2020 2:45 pm

Designed to earn more – Asia Securities Wealth Management launches new money market fund

The high-yield Fund aims to offer Sri Lankan investors an attractive alternative to traditional short-term instruments in the current low-interest environment. Asia Securities Wealth Management (Pvt) Ltd., the investment management arm of Asia Securities, one of Sri Lanka’s leading investment firms, launched the Asia Securities Money Market Fund today. Regulated by the Securities and Exchange…

(0) Comments | November 26, 2020 2:41 pm

PAYable announces processing of over Rs.750mn in transactions per month

PAYable PVT LTD, Sri Lanka’s leading cashless payment solution provider recently announced crossing the milestone of processing over Rs. 750million in transactions per month on its platform. The system currently serves over 25,000 MSME merchants, empowering businesses with the ability to accept cashless payments. Speaking on the milestone, Yohan Wijesiriwardane, CEO/Co-Founder PAYable PVT LTD said,…

(0) Comments | November 26, 2020 2:38 pm

Sampath Bank improves ranking to 4th place in Business Today Top 30

Sampath Bank PLC recently announced that it has improved its position in the Business Today Top 30 for the year 2019-2020, reaffirming its status as one of Sri Lanka’s best performing companies. The Bank rose one spot in this year’s ranking to reach 4th place among Sri Lanka’s corporate elite. Currently in its 23rd year,…

(0) Comments | November 26, 2020 10:45 am

Top News

EU’s statement on SL’s import control ‘an overreaction presented too early’: CBSL Chief

The Delegation of the European Union (EU) recently raised concerns over the import restrictions imposed by the Government of Sri Lanka. Issuing a statement together with the Embassies of France, Germany, Italy, Netherlands and Romania, the EU stated that; the current import restrictions are having a negative impact on Sri Lankan and European businesses, and…

(0) Comments | November 27, 2020 9:32 am

Nawaloka Hospitals PLC records exemplary performance amidst tough economic backdrop

Recording a year of commanding financial performance in a challenging economic backdrop, Nawaloka Hospitals PLC, a pioneering force in the private healthcare sector, posted a revenue of Rs. 8.5 billion for the fiscal year 2019/20. While performance in the first quarter of the year was severely hindered due the devastating Easter attacks, progress during the final…

(0) Comments | November 27, 2020 9:24 am

Rethinking the Game Plan in Shaping Tourism of Tomorrow, a key discussion at Sri Lanka Economic Summit 2020

Tourism is one of the worst hit sectors from the pandemic and as the industry recovers and restarts, we are presented with an opportunity to rethink how the future of travel and tourism can be shaped for the better.  It has pushed socio-economic structures into a standstill and has challenged globalization and global operations of…

(0) Comments | November 26, 2020 4:00 pm

EU Ambassador meets BOI Chairman

Ambassador – Head of Delegation of the European Union (EU) to Sri Lanka and the Maldives Denis Chaibi and EU Deputy Head of Mission, Head of Political, Trade and Communications Section Thorsten Bargfrede met with Board of Investment (BOI) Chairman Susantha Ratnayake and Director General Sanjaya Mohottala on November 26, 2020 at the Board premises. The discussion was on…

(0) Comments | November 26, 2020 2:27 pm

CB sets maximum interest rates on mortgage-backed housing loans, to introduce lending targets 

Sri Lanka’s Central Bank will introduce maximum interest rates on mortgage-backed housing loans for salaried workers from licensed banks and set lending targets for certain sectors in the near future in conformity with the policies of the Government, Central Bank Governor Deshamanya Prof. W.D. Lakshman said whilst addressing the final Monetary Policy review press conference for this year. ”…

(0) Comments | November 26, 2020 1:49 pm

Minister of Finance and Corporate Affairs of India Nirmala Sitharaman to deliver keynote address at SLES 2020

Nirmala Sitharaman, Minister of Finance and Corporate Affairs of India, will be delivering the keynote address at the inauguration of the Sri Lanka Economic Summit (SLEC) 2020. The keynote address will be during the inaugural session on December 1, 2020. Minister Sitharaman, an Economist has been serving in her current capacity since May 2019 and was previously…

(0) Comments | November 26, 2020 1:47 pm

Port of Colombo: All Operations Return to Normal

The following press communiqué jointly issued by Sri Lanka Ports Authority, South Asia Gateway Terminal and Colombo International Container Terminal All operations and other services of the Sri Lanka Ports Authority’s (SLPA) terminals and all other sister terminals at the Port of Colombo are swiftly returning to normal. Due to the current Covid-19 pandemic situation…

(0) Comments | November 26, 2020 1:13 pm

PMI drops in Oct. amid pandemic

Manufacturing activities indicate subdued performance in October 2020 due to adverse impacts of the second wave of COVID-19 pandemic erupted in the country in early October. Accordingly, manufacturing PMI declined to 40.3 in October 2020 with a significant decline in Production, New Orders, Employment, and Stock of Purchases sub-indices, particularly in the manufacturing of wearing…

(0) Comments | November 26, 2020 9:08 am
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Analysis

Business Sentiment – Index plummets on COVID fears

Business sentiment nosedives as COVID-19 takes its toll on the state of the state While all eyes may have been on a presidential election in a land hundreds of thousands of miles away, closer to home, the situation appears to have become graver by the minute with a new set of coronavirus clusters taking a…

(0) Comments | November 25, 2020 11:17 am

The COVID-19 Crisis and Innovation: Why Intellectual Property Rights Matter

By Dilani Hirimuthugodage Way back in 1945, renowned author Kumarathunga Munidasa wrote in ‘Virith Vekiya’: “A nation that does not invent and produce new things will not thrive”. The visionary Munidasa clearly understood the importance of innovation for economic and social progress. Today, it is telling that Sri Lanka ranks at 101 in the World Intellectual…

(0) Comments | November 23, 2020 5:15 pm

Generosity, Pleasant Speech, Meaningful Livelihoods and Equality down the BRI

The Beijing Swift – By Prof. Samitha Hettige © The Belt and Road Initiative (BRI) has more than 150 partners along the Silk Road. Some are rich and powerful some are not. A key feature of the BRI is win-win cooperation. It is the Chinese approach on partnerships. There are no competitors, all are winners….

(0) Comments | November 23, 2020 10:38 am
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