The Chief Executive Officer of National Development Bank PLC (NDB), Dimantha Seneviratne, is due to retire from NDB by the end of January 2024 following an illustrious career of 34 years, of which 10 years was at CEO level. He had also previously served as CEO at the Pan Asia Banking Corporation PLC (PABC) for…
The Value Added Tax (Amendment) Bill was passed in Parliament today (11) by a majority vote. Following the Committee Stage on the Appropriation Bill 2024, the Second Reading of the Value Added Tax (Amendment) Bill was passed in parliament. Accordingly, in the voting for the Second Reading of the Bill held at around 4.35 pm,…
Aitken Spence Travels, Sri Lanka’s premier destination management company, welcomes simultaneous arrivals of three cruise ships—Vasco Da Gama, Mein Schiff 5, and MS Seven Seas Navigator on the 10th of December 2023, at the port of Colombo. Vasco Da Gama and Mein Schiff 5 will dock at the Colombo port by 7.00am and MS Seven…
Port City Colombo (PCC) showcased its commitment to sustainable development and global economic cooperation at the third Commonwealth Trade and Investment Summit (CTIS) held in London recently. CTIS, known for bringing together senior business leaders and ministers from across the Commonwealth’s five regions, provided an ideal platform for PCC to engage in critical discussions on…
In Sri Lanka’s textile sector, a deep-rooted tradition in natural dyeing spans centuries and is intertwined with the nation’s rich textile heritage. The country’s abundant biodiversity has yielded a diverse range of botanical resources, providing a wealth of natural pigments essential to the garment industry. From vivid shades sourced from turmeric, indigo, and madder root…
The tea industry requires approximately 540,000 MT of fuelwood per annum to sustain its production RPCs calls for an efficient approval process of harvesting commercial timber and fuelwood The Planters’ Association of Ceylon (PA), Sri Lanka’s apex body representing the nation’s Regional Plantation Companies (RPCs), warned of a looming shortage in fuelwood necessary to meet…
FAAMA Chairman emphasizes need for SL to adopt vertical integration in apparel manufacturing Highlights adverse effects of abolishing Simplified Value Added Tax (SVAT) Notes sustainability, traceability significant concerns for industry Asserting the importance of vertical integration, Chairman of the Fabric and Apparel Accessory Manufacturers Association (FAAMA), Sahan Rajapakse stated that 50% – 60% of Sri…
SriLankan Airlines wowed the world’s travel trade with its latest Global Sales Conference, which concluded in Hambantota on 24 November 2023 with some 200 of the airline’s top international agents and tour operators in attendance. SriLankan Airlines offered the international participants information on the operational plans of the airline during the programme as well as…
As a result of discussions between the Asian Development Bank (ADB) and the Government of Sri Lanka, two policy-based loans (PBL) have been arranged to implement the Financial Sector Stability and Reform Program in order to create a stable financial system that provides access to finance for business in various sector of the economy. The…
The Commercial Bank of Ceylon has been ranked No 1 on the Business Today ranking of Sri Lanka’s Top 40 business entities in 2022-23. Business Today has assigned Commercial Bank an aggregate score of 34.55 at the top of a list that includes the country’s biggest diversified conglomerates, banking and financial services giants and manufacturing…
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