Lead Story
Federation of Information Technology Industry Sri Lanka (FITIS), the apex body of the ICT industry, is continuing to assist the Government of Sri Lanka in its journey towards the Digital Transformation. Working very closely with the Ministry of Technology, FITIS contributed to the formulation of National Digital Economy Strategy – 2030 since its inception through…
Featured
DFCC Remittances partnered with Mondial Boney Services in Italy to host an Avurudu event to celebrate the Sinhala and Tamil New Year on the 14th of April 2024 in grand style, with many Sri Lankans participating in traditional events and activities. The Honorary Consul of Sri Lanka in Naples, AVV Carmine Capasso, graced the occasion,…
SLASSCOM, the apex body representing Sri Lanka’s IT/ BPM industry, has unveiled a pioneering collaboration with STEMUP Educational Foundation (STEMUP), an innovative online platform dedicated to fostering an interest in STEM careers among students. This collaboration is focused on launching an online internship platform designed to enhance opportunities for aspiring tech professionals, addressing the industry’s…
AdaniConneX, a 50:50 Joint Venture (JV) between Adani Enterprises and EdgeConneX, has established one of South Asia’s largest sustainability linked financing to raise up to USD 1.44 billion. The financing has an initial commitment of USD 875 million, with an accordion feature to extend commitment up to USD 1.44 billion. The transaction elevates AdaniConneX’s construction…
Driving the adoption of green energy practices across the country, Hayleys Solar, the renewable energy arm of Hayleys Fentons has entered into an agreement with the Bank of Ceylon (BOC) to provide low-interest loans for both residential and commercial customers in a bid to encourage them to make the transition to renewable energy. Customers can…
Toyota Lanka (Private) Limited, a leading name in the automotive industry, recently hosted its 16th Annual Dealer Convention to honour and recognize the outstanding contributions of its 500 authorized partners nationwide. The convention served as a platform to acknowledge the pivotal role played by these partners in the distribution of Toyota Genuine Motor Oil, Toyota…
Perera & Sons Bakers (P&S), Sri Lanka’s largest quick service restaurant chain, recently sponsored the Hill Club Annual Open Ranking Tennis Event for the 2nd consecutive year. A long-standing supporter of tennis, badminton, table tennis and other sporting events, including school-level tournaments, P&S began its association with the Hill Club Annual Open Ranking Tennis Event…
Fairy Herbal Products Pvt. Ltd. a leading herbal based beauty products manufacturer in the country was honoured as the Best Herbal Based Beauty Institute of the Year at Golden Inmediens Awards 2023. The award was received by Fairy Herbal Products Founder and Managing Director, Kaveena Ekanayake Arachchige. Based in Mulatiyana, Matara, Fairy Herbal Products specialises…
Launched in 2004, the John Keells English Language Scholarship Programme (JKELSP) marks its 20th anniversary of enhancing the English language skills of schoolchildren and youth across Sri Lanka. This flagship initiative under JKF’s Education focus aims to empower children and youth from socially and economically disadvantaged backgrounds with English, IT, and career skills towards improving…
Reaffirming its commitment to excellence in carrying out responsible initiatives to reduce human impact on the environment, empowering communities through digitalisation and streamlined operations, SLT-MOBITEL, the National ICT Solutions Provider, unveiled its new ESG theme ‘Co-Connection’. The new ‘Co-Connection’ theme recognises the vital role businesses play today in shaping a sustainable future and aims to…
HNB PLC, Sri Lanka’s leading private sector bank, recently entered a strategic partnership with Micro Cars Limited to offer unparalleled benefits and exclusive offers to customers intending to purchase vehicles from Micro Cars. Under this partnership, customers purchasing PROTON SAGA, SAIC ALMAZA and TIGGO4 PRO vehicles from Micro Cars will enjoy a range of benefits…
Top News
With representatives from several foreign embassies represented in Sri Lanka visiting the Hambantota International Port (HIP) to investigate business opportunities, the Sri Lanka Foreign Ministry organised a port visit for its ambassador designates. In line with that, Sri Lankan ambassadors designated to 8 countries were taken on a guided tour of HIP and followed a…
Minister of Foreign Affairs of Japan Yoko Kamikawa is scheduled to undertake an official visit to Sri Lanka from 04-05 May 2024. During this visit, the Japanese Foreign Minister is scheduled to pay courtesy calls on President Ranil Wickremesinghe and Prime Minister Dinesh Gunawardena. The Japanese Foreign Minister and her delegation will have official discussions with the Foreign Minister…
Net Interest Income for the quarter 2,884 Mn, up by 42% Net Fee and Commission Income for the quarter 398 Mn, up by 17% Operating Profit for the quarter 1,105 Mn, up by 43% Profit before Tax for the quarter 796 Mn, up by 47% Profit after Tax for the quarter 363 Mn, up by…
Virtusa Corporation, a global provider of digital engineering and IT services, proudly hosted the first-ever LinkedIn (LI) community event in Sri Lanka, dubbed “Connect Colombo.” The landmark event took place at the Courtyard by Marriott, marking a significant milestone in the country’s professional networking landscape. Bringing together over 200 industry leaders and mid to senior-level…
Emphasizes People’s Role in Determining Nation’s Economic Trajectory. President Ranil Wickremesinghe emphasized the government’s aim to create a highly competitive, export-oriented economy based on market economy, expressing full faith in the business community of the country. He pointed out that the current challenge facing the nation is not about maintaining the executive presidential system but…
In a significant acknowledgment of its contribution towards the development and growth of the national economy, Dialog Axiata PLC, Sri Lanka’s #1 connectivity provider, was recognised by the Board of Investment (BOI) as the largest FDI Contributor. This prestigious accolade, presented during the BOI’s 45th anniversary celebrations, underscores Dialog’s unwavering commitment to driving forward Sri…
Ceylon Tobacco Company PLC (CTC) announced the appointment of Fariyha Subhani as Managing Director and Chief Executive Officer, effective 15th April 2024. Subhani takes over the reins as Managing Director from Monisha Abraham, who was appointed to the position in December 2021. Prior to joining CTC, Fariyha served as Managing Director for Upfield (Private) Limited, South & Central Asia, a…
Furthering Dubai’s commitment to accessible travel and to raise awareness of autism, Emirates invited 30 UAE families with neurodiverse children to have a real check in experience and familiarisation flight on the 24 April, in Terminal 3 Dubai International Airport (DXB). The initiative was designed to help the children practice and alleviate anxieties before travelling,…
Analysis
State of the Budget Report estimates 14% shortfall in revenue against budget projection Sri Lanka is projected to fall short of its budget target on revenue to GDP (gross domestic product) for the 33rd consecutive year in 2024, according to the recently released ‘State of the Budget Report 2024’. The State of the Budget Report…
While SL was still a British colony legendary Sri Lankan Engineer T.S. Jinasena (of Jinasena Engineering est. 1905) assembled the first ever racing car in SL (The Magpie) & became the first Sri Lankan to set a record at the ‘Mahagasthota’ Hill Climb (1939). With support from his sons Nihal, Rohan, Ranjith & Tissa he…
Fitch Ratings – Positive US data in 1Q24 have helped to improve Fitch Ratings’ full-year global economic outlook, but have also raised the prospects of a ‘no-landing’ scenario and heightened interest rate uncertainty. In addition, key risks to global credit from commercial property, geopolitics and China’s real estate market remain, which we highlight in a…
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