It was disclosed at the Sectoral Oversight Committee on Energy & Transport that the emissions of 90% of the vehicles driven in this country are substandard. The said Committee met under the Chairmanship of Hon. Nalaka Bandara Kottegoda, Member of Parliament on the 22nd of August in Parliament, and the youth representatives selected for the…
The Monetary Board of the Central Bank of Sri Lanka, at its meeting held on 23 August 2023, 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 11.00 per cent and 12.00 per cent, respectively. The Board arrived at…
Global trend shifting towards homogenous and recyclable packaging materials Below are excerpts of an interview with B. Swaminathan, the CEO and President of Smart Expos & Fairs India (Pvt) Ltd, we delve into his perspectives on the transformative potential of Circular Economy and Sustainable Growth within Sri Lanka’s plastics industry. Swaminathan sheds light on how…
SriLankan Airlines advises that news reports of Flight UL 195 from Colombo to Delhi making an emergency landing at the Indira Gandhi International Airport yesterday (23 August 2023) are false and that no emergency was declared for UL 195. The flight did, however, encounter a minor issue with one of its three hydraulic systems. Such…
The Indo-Lanka Chamber of Commerce & Industry (ILCCI) recently convened its 15th Annual General Meeting with the Patron of the Council High Commissioner of India His Excellency Gopal Baglay gracing the occasion as the Chief Guest. The outgoing President of the Council Mr. Romesh David – CEO, South Asia Gateway Terminals (Pvt) Ltd., noted that…
The State Minister for Primary Industries Chamara Sampath Dasanayake announced that the exports of gems and jewellery have generated an income of USD 315 million from January of this year until now. He further highlighted that the gems and jewellery sector has demonstrated an impressive export growth rate of 34%, a fact corroborated by reports…
WindForce PLC – Sri Lanka’s leader in renewable energy, in partnership with Lakdhanavi – the leading Independent Power Producer (IPP) in Sri Lanka, and The Blue Circle – a Singapore-based investment firm focused on renewable energy, has formed a consortium set to embark on a transformative power generation project that will reshape Sri Lanka’s renewable…
The Central Bank of Sri Lanka (CBSL) issued Financial Consumer Protection Regulations, No. 01 of 2023 in terms of Section 10 (c) of the Monetary Law Act, No.58 of 1949 and published the same in the Government Extraordinary Gazette No. 2344/17 on 09.08.2023. These Regulations will apply to all Financial Service Providers regulated by CBSL…
The Ceylon Motor Traders Association (CMTA), the senior most automotive association in South Asia, has addressed the recent announcement regarding the relaxation of import restrictions for commercial vehicles and buses. While the CMTA acknowledges the positive step of easing these restrictions, they emphasize the need for a sustainable approach to manage foreign currency expenditure on…
Furthering their shared mission of providing equitable access to education for all students across the country, Dialog Axiata PLC and the Ministry of Education revised their Memorandum of Understanding (MoU) for the operations of the Nenasa initiative. In line with the Ministry’s vision for a digitally enabled education landscape in Sri Lanka, under the revised…
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