Unilever Sri Lanka recently inaugurated a new 2.33 MW solar power project at its Horana factory, partnering with Abans Electricals PLC for project execution. This significant step forward in Unilever’s commitment to sustainability and renewable energy represents a total investment of 1.3 million Euros. The project aligns with Unilever’s Global Climate Transition Action Plan (CTAP)…
In a recent report, the Central Bank of Sri Lanka announced that the country received USD 544.4 million in remittances from Sri Lankans working abroad in May 2024. This significant influx contributes to a total of $2,624.4 million received from January to May 2024. The latest figures indicate an 11.85% increase compared to the same…
A vehicle parade of locally manufactured and assembled vehicles organized by the Industrial Development Board (IDB) along with the Ministry of Industries (MOI), Sri Lanka Automobile Component Manufacturers Association (SLACMA) and Automobile Assemblers Association will be held for the third time, through Galle Face, Lotus Roundabout , Fort, Technical Junction, Punchikawatta, Maradana, Borella, Borella cemetery…
On June 12, the IMF board will sign off on Sri Lanka’s third disbursement under the current programme. But Sri Lanka is still failing on the governance improvements that are foundational for its economic recovery. According to the latest update of the ‘IMF Tracker’ by Verité Research, Sri Lanka verifiably failed to meet 25% of…
By Prof. Samitha Hettige President JRJ as Minister of State consulted Indian Economist B.R. Shenoy to know the best economic policy for SL in 1966. His advice to reverse the nationalizing trend started in 1956 wasn’t taken seriously but China observed all trends & liberalized its economy in 1979. Today China is world’s 2nd largest…
Reuters – A workers’ union at Samsung Electronics staged its first walkout on Friday, signalling more assertiveness among employees just as South Korea’s most powerful conglomerate races to catch up in chips used in artificial intelligence. The National Samsung Electronics Union (NSEU), whose roughly 28,000 members make up over a fifth of the firm’s workforce, said…
In a landmark decision, the Parliament of Sri Lanka has approved the long-awaited Electricity Bill, marking a significant milestone in public sector reform. The Ceylon Chamber of Commerce, which has been advocating for this change for the past few years, warmly welcomes the decision, hailing it as a courageous and transformative step forward for the…
Adani’s wind power tariff of 24.78 LKR per unit is the lowest in the country, cheaper than the CEB’s 100 MW Wind power plant at Thambapavani and significantly lower than oil-based power at 80 LKR per unit. By replacing higher-cost, import-dependent fossil fuel power, Adani’s project will save Sri Lanka over US$ 270 million annually…
By Jithendra Antonio Fossil fuels, which primarily have been cornerstone of industrial development and modern society for over a century, is well on its way to become the very reason for its eventual downfall. The environmental and economic costs associated with these fuels are alarming. Fossil fuels emit Greenhouse Gases which trap heat, leading to…
Lankem Ceylon PLC, a leading entity in Sri Lanka’s corporate sphere, has formally announced plans to venture into fertilizer manufacturing with the establishment of a new plant in Oyamaduwa, situated within the Anuradhapura district. This initiative, in accordance with Section 8 of the Listing Rules, marks a significant strategic move for the company. To oversee…
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