The Sri Lanka Association for Software Services Companies (SLASSCOM) recently appointed their new office bearers for 2022/23, at the Annual General Meeting held on the 2nd of August 2022. Ashique Ali was appointed as Chairman of SLASSCOM for the year 2022/ 2023. He is the Managing Director of Talliance, and is a veteran in the…
Reuters – Sri Lanka’s central bank held rates steady on Thursday and the governor sounded a note of cautious optimism about the damaged economy, saying foreign exchange reserves were on the mend and runaway inflation could peak as early as September. Still, the economy is likely to contract 8% this year and growth is not…
The Sri Lanka Export Development Board (EDB) organized an informative webinar on “Opportunities in the Israeli Market” in collaboration with the Embassy of Sri Lanka in Israel together with the support of the Federation of Israeli Chambers of Commerce (FICC) and Israel – Sri Lanka Chamber of Commerce on 03rd August, 2022. The purpose of…
Sri Lankans are responsible for releasing over 1.59 million metric tons of plastic into the ocean each year. The number is huge and so is the repercussion. The reckless disposal of polythene and plastics has resulted in this unending issue in the country. As per the data, polythene and plastic comprise more than 5.9% of…
Full cabin refresh for 120 aircraft along with the installation of Premium Economy seats Clockwork planning and testing begins to achieve turnaround time of 16 days per aircraft Emirates has kick-started its plans to upgrade the entire interior cabins of 120 Airbus A380 and Boeing 777 aircraft – two of the largest commercial aircraft types…
An interview with the president of Sri Lanka We interviewed the president of Sri Lanka in Colombo on August 14th 2022. This transcript has been edited for length and clarity. The Economist: Thank you very much for taking the time to see us, Mr Wickremesinghe. The last time we were here was three weeks ago,…
In order to attract foreign currency held with the public into the banking system, the Minister of Finance has issued an Order granting an amnesty period of 1 month effective from 15.08.2022 for persons in, or resident in, Sri Lanka who hold foreign currency notes in possession to: i. Deposit into a Personal Foreign Currency Account or into a Business Foreign…
The Monetary Board of the Central Bank of Sri Lanka, at its meeting held on 17 August 2022, 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 14.50 per cent and 15.50 per cent, respectively. In arriving at this…
Finalized off-peak and daytime industrial electricity tariff rates are exponentially high and detrimental to the apparel industry Reassessing the newly revised tariff rates is essential for companies within the sector to plan and budget better With the Public Utilities Commission (PUCSL) granting permission to the Ceylon Electricity Board (CBSL) to increase power tariffs, the off-peak…
Singer (Sri Lanka), a premier retail company, has been manufacturing high quality furniture and water pumps since 1993 to cater to the ever-growing consumer needs. Singer’s local manufacturing strength is one that differentiates the company from the rest in the industry, while the company has clearly identified the local consumers’ needs to provide them with…
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