Recent rumours that the new government might grant the Ceylon Electricity Board (CEB) permission to continue to bypass competitive bidding for fuel purchases have sparked an uproar on social media. While the validity of these reports is yet to be determined, the resulting online debate draws attention to an ongoing cycle of debt and loss…
JICA is set to initiate a new technical cooperation project early next year to support Sri Lanka to improve fecal sludge management. Record of Discussion of this project was concluded between Mr. S. Alokabandara, Secretary to the Ministry of Justice, Public Administration, Home Affairs, Provincial Councils, Local Government and Labour and Mr. YAMADA Tetsuya, Chief…
A high-profile delegation from the global tyre manufacturing giant Michelin met the newly appointed EDB Chairman Mangala Wijesinghe on 1st November, 2024, to explore and discuss avenues to take Sri Lanka’s rubber manufacturing sector to greater heights as well as solidify the fruitful relations the two entities have enjoyed for a number of years. The…
As a strategic move to develop a mechanism for addressing challenges in the export value chain, the Export Development Board (EDB) has established a Trade Facilitation Task Force. The first meeting was held on October 29 at the Export Development Board. Attendees included Mrs. Champika D. Dharmasena, Director General of the Export Development Board; Mrs….
Sri Lanka Telecom PLC (SLT) has announced the appointment of Dr. Mothilal de Silva as the new Chairman of its Board of Directors, effective November 4, 2024. The decision, following the recommendation of the company’s Nominations and Governance Committee, marks a significant leadership change for Sri Lanka’s national telecommunications provider. With a proven track record…
In a groundbreaking development, Assetline Finance Limited, the flagship company in the financial services cluster of the David Pieris Holdings (Private Limited), one of Sri Lanka’s top conglomerates has secured a senior loan from the Japan ASEAN Women Empowerment Fund (JAWEF) managed by BlueOrchard Finance Ltd, a leading global impact investment manager. This loan marks…
The turn of the global interest-rate cycle, underlined by the US Federal Reserve’s 50bp Federal Funds target rate cut in September, should ease foreign-currency debt-repayment burdens and refinancing challenges for many emerging market (EM) issuers, says Fitch Ratings. Fitch expects the US rate-cutting cycle to be modest compared with historical cycles. However, we still expect…
“The job of the government is to protect both the employer and employee”- Noel Priyathilaka The Sri Lankan apparel sector has faced many challenges in recent years. Beyond the well-documented local challenges, the industry has also had to grapple with challenges originating from afar such as Covid-19 and the resultant economic uncertainties in the subsequent…
Former Axiata Group CEO Dr. Hans Wijayasuriya has been appointed as the Chief Advisor to the President on Digital Economy. He received his letter of appointment from President Anura Kumara Dissanayake at the Presidential Secretariat in Colombo today (01). The President’s Media Division (PMD) stated that the appointment marks a significant first step in Sri…
Axiata Group Berhad (“Axiata” or “the Group”) announced that Dr Hans Wijayasuriya, CEO of Telecommunications Business and Group Executive Director has been invited by the Government of Sri Lanka (“GoSL”) to lead the country’s digital economy agenda in the capacity of Chief Advisor to the President on Digital Economy and other related leadership roles. Dr…
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