Driving forward ambitious diversifications into coconut, fruits, vegetables and spices Innovating on agri-best practices, mechanisation, beekeeping, vermi-compost 650Kw of renewable energy capacity in mini-hydro and rooftop solar Targeting internal generation for 50% of energy needs by end 2022 Aiming at Carbon Neutral status by a minimum of 2030 For innovation to be impactful, it needs…
Bloomberg – Sri Lanka is due to conclude bailout negotiations with the International Monetary Fund Thursday, just as South Asian peer Pakistan resumes talks with the multilateral lender. Both nations are running out of dollars and need the IMF to either step up with cash or provide comfort to other potential creditors. Pakistan, which needs…
DIMO, a leading diversified conglomerate in Sri Lanka, together with Tata Motors Limited, launched its first batch of locally assembled DIMO Batta HT2 trucks. Marking a significant milestone in Sri Lanka’s automotive industry, DIMO is proud to introduce the first ever small commercial vehicle assembled in Sri Lanka. Produced at the DIMO Vehicle Assembly Plant…
USD 45 million apartment project partners LIWE Communities for smart living solution LIWE Communities to service approx 400 residents at 447 Luna Tower, Colombo 2 LIWE Communities – Sri Lanka’s first comprehensive cloud-based smart communities management platform recently announced their service partnership with Belluna Lanka – Developers of the 447 Luna Tower, to provide its…
Imposition/Collection of Administrative Penalties by the Financial Intelligence Unit (FIU) to Enforce Compliance on Financial Institutions during the Fourth Quarter of 2021 By virtue of the powers vested under Section 19 (1) read together with section 19 (2) of the Financial Transactions Reporting Act, No. 6 of 2006 (FTRA), financial penalties are imposed on Institutions…
Minister of Tourism Harin Fernando who was in London recently met the UK travel industry on 16 June 2022 at the High Commission of Sri Lanka. The promotional event which was organised by the High Commission of Sri Lanka in collaboration with the Sri Lanka Tourism Promotional Bureau, was timely in the backdrop of the…
High Commissioner of Sri Lanka to India Milinda Moragoda met with the Minister of Petroleum and Natural Gas and Housing and Urban Affairs of India Hardeep Singh Purito discuss urgent matters pertaining to bilateral energy cooperation. The meeting was held on 27 June at the Ministry of Housing & Urban Affairs in New Delhi. High…
The Department of Census and Statistics (DCS) Sri Lanka, has released the estimated Gross Domestic Product (GDP) at current price and at constant (2015) price in Production Approach with the other macroeconomic indicators for the first quarter (January 1st to March 31st) of 2022. Issuing a communiqué, on releasing National Accounts estimates, the DCS states…
Bridge Advisory and Consulting, together with DocuSign, the World’s No.1 Electronic Signature and Agreement Cloud recently hosted a webinar on “Electronic Signatures and Agreement Cloud – The Relevance for Sri Lanka”. The discourse addressed key areas on the background and legality of using e-signatures in Sri Lanka, why it should be a commonality, and covered…
Recommendations made by the Advisory Committee for Revival of Failed Licensed Finance Companies The Monetary Board of the Central Bank of Sri Lanka (Monetary Board) established the Advisory Committee for Revival of Failed Finance Companies (Committee) in October 2021 to examine possible revival options for five (5) failed finance companies, i.e., Central Investments & Finance…
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