LONDON, May 18 (Reuters) – BT Group (BT.L), Britain’s biggest broadband and mobile provider, will cut up to 55,000 jobs including contractors by 2030 – potentially over 40% of its workforce – as it completes its fibre roll-out and adapts to new technologies such as AI. The company has been working through a transformation plan to…
The Bank of Ceylon Annual Report 2022 was presented to President Ranil Wickremesinghe, the Minister of Finance, Economic Stabilization, and National Policy, by Mr. Ronald C. Perera, the Chairman of the Bank of Ceylon, at the Ministry of Finance today (18). To access the Annual Report of the Bank of Ceylon 2022, interested individuals can…
The Central Bank of Sri Lanka (CBSL) says the Banking Act directions made by its Monetary Board on cash margin deposit requirements against imports have been revoked. Thereby, the revocation, made pursuant to Sections 46(1) and 76(J)(1) of the Banking Act No. 30 of 1998, is effective immediately. In a notice issued to licensed commercial…
With the objective of accelerating the tourism arrivals from India, leading hospitality and travel entities in the island including Cinnamon Hotels and Resorts, Walker’s Tours, Aitken Spence Hotels, Aitken Spence Travels, Jetwing Hotels, and Jetwing Travels, have joined forces with the Sri Lanka Tourism Promotions Bureau and National Carrier SriLankan Airlines to unveil a groundbreaking…
Four Hatch startups: Hyperglade, Miris by Islandmom, True by Tina and Feelo have acquired funding to take their businesses to the next level. The most significant of these funding opportunities came from Silicon Valley investor Tim Draper who funded Hyperglade with USD350,000 proving that the local entrepreneurial talent among Hatch startups are capable of making…
In a recent press conference Wednesday (17 May) MP Harsha de Silva outlined several critical points regarding the IMF Program. De Silva expressed general agreement with the stabilization program but stressed the need for specific amendments to focus the program towards medium-term growth. De Silva questioned the four-year plan outlined in the IMF Program. He…
Elects industry stalwart Indika De Zoysa as new chairman for 2023/2024 FITIS – Federation of Information Technology Industry Sri Lanka, the apex body of the ICT industry, recently elected its Board of Directors for the year 2023/2024 at its Annual General Meeting (AGM) held on 28th April 2023 at JAIC Hilton, amidst a large gathering…
The Hambantota International Port (HIP) launched its Duty Free Complex with the opening of 2 duty free shops within the port’s premises. The complex is designed to grow the duty-free business catering to the vessels calling HIP. The first two operators to set up at HIP’s duty free complex are Royale Electronics and United Life,…
Posts revenue of Rs 84 billion for full year; Rs 17.3 billion in Q4 Sri Lanka’s first multinational textile manufacturer Teejay Lanka PLC has ended 2022-23 with noteworthy revenue and gross profit growth demonstrating its resilience in the face of external challenges and higher taxation that pressured profits in the second half of the year….
Dr. Cabral, a veteran legal professional with a wealth of experience and exposure both in the local and international arenas assumed duties as the new Chairperson of NSB on 17th May 2023 at the NSB Head Office premises amidst the well wishes of Mr. Ajith Peiris GM/CEO, Senior Management of NSB and the members of…
