Ceylon Energy, a company with a proud history of excellence in power transmission projects, has been issued a Special Economic Zone (SEZ) Enterprise License by Kenyan President; His Excellency Dr. William Ruto to commence their operations at the Naivasha SEZ. The License was handed over to Ceylon Energy Group Chief Executive Officer (CEO) Mr. Madusanka…
Sri Lanka is charting a course towards a digital future. Last week, Herath hosted a productive meeting with Australia’s Digital Transformation Agency (DTA) to share insights and expertise. The meeting focused on the DTA’s successful strategies in driving digital transformation across Australia, and how Sri Lanka can adapt these models to its own context. Minister…
Hambantota International Port (HIP) in partnership with the Sri Lanka Coast Guard and the Sri Lanka Navy, conducted an oil spill drill last week, to enhance their emergency preparedness. “While all health and safety measures are in place to prevent accidents, we are also prepared for the unexpected. Therefore, drills of this nature are mandatory…
Capital Market regulator, the Securities and Exchange Commission of Sri Lanka (SEC) held meaningful discussions with the Chief Executive Officers (CEOs) of stock broker firms and other Market Intermediaries in separate stakeholder engagements in January 2024. The meetings were aimed at fostering collaborative efforts to fortify the regulatory framework and operational infrastructure of the securities…
Journalists Now Eligible for Exclusive Benefits. President Ranil Wickremesinghe has directed the Sri Lanka Telecommunications Regulatory Commission (TRC) to facilitate the return of the rewards package from Mobitel to government employees and pensioners, along with implementing additional concessions. Additionally, the President has mandated the commission to extend these benefits to all and instructed the TRC…
In a recent agreement, the United States through the United States Agency for International Development’s CATALYZE Private Sector Development (PSD) Activity has extended support to Union Bank, enhancing the bank’s efforts to foster its women-focused financial services. This impactful collaboration will promote financial inclusion by addressing the specific needs of female customers in the banking…
The Ceylon Motor Traders’ Association (CMTA) made a statement claiming that the newly imposed VAT on used vehicles, has supported the creation of a black market in the industry, while increasing the market prices of used vehicles which is hurting the common man of the country. The recent implementation of VAT has stirred concerns in…
The Monetary Policy Board of the Central Bank of Sri Lanka, at its meeting held on 22 January 2024, decided to maintain the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank at their current levels of 9.00 per cent and 10.00 per cent, respectively. The Board arrived…
Reuters – Sri Lanka’s consumer price inflation rate rose to 4.2% year-on-year in December from 2.8% in November, the statistics department said on Monday. The National Consumer Price Index (NCPI) (LKNCPI=ECI) captures broader retail price inflation and is released with a lag of 21 days every month. Food prices rose 1.6% in December after falling 2.2% in…
IFC, a member of the World Bank Group, has appointed Imad N. Fakhoury as Regional Director for South Asia. Based in New Delhi, Fakhoury will spearhead IFC’s strategy and operations, while reinforcing relationships with the private sector, governments, and regional partners to boost impactful development outcomes in the region. “Fueling economic growth and job creation…
Video Story
