Lead Story
The Central Bank of Sri Lanka and the People’s Bank of China, in December 2024, successfully renewed the Bilateral Currency Swap Agreement signed in 2021, for a period of another three (03) years, under the terms and conditions stipulated in the original agreement. The CNY 10 billion (approximately USD 1.4 billion) currency swap facility reflects…
Featured
Hutch collaborated with the Faculty of Computing at the University of Sri Jayewardenepura to conduct an exclusive knowledge-sharing session for third-year undergraduate students. The event, held at the university, was part of Future Connect, an innovative initiative aimed at preparing the next generation for the technologies of tomorrow. By bridging the gap between academic learning…
Mr. Jayalal Hewawasam, CEO of Allianz Life Insurance Lanka Ltd., was recently honored with the prestigious Global CEO Leadership Excellence Award at Sri Lanka’s inaugural Global CEO Awards Night held on 5th December 2024 at ITC Ratnadipa, Colombo. Recognizing 50 of Sri Lanka’s most distinguished CEOs, the award highlights Mr. Jayalal’s leadership and sheer commitment…
Navigating today’s fast-paced and competitive business landscape presents organizations with a myriad of challenges, including inefficiency, excessive time spent on routine tasks, and difficulties in collaboration. These issues are intensified by the sheer volume of work and the complexity of managing both remote and in-office teams. Research highlights the extent of these challenges. According to…
Says ‘13.6 – 28 PUDDLE XL TT 12PR’ is designed for greater traction and stability in puddling operations, and longer life A new high-performance tractor tyre has been launched by CEAT Kelani Holdings in time for the harvest phase of the Maha cultivation season, in another demonstration of commitment to the agriculture sector. Appropriately tagged…
AICPA & CIMA, together as the Association of International Certified Professional Accountants, announced Kaushala Amarasekara, (ACMA, CGMA), AGM – Brand & Marketing Communication at Hutchison Telecommunication Lanka (Pvt) Ltd Sri Lanka as the winner of the Digital Transformation Award of AICPA & CIMA’s inaugural CGMA Professional Awards – Asia Pacific in a virtual ceremony held…
Groundworth Partners, a trusted name in real estate, proudly announces the launch of its seventh successful project, Tranquil Acre, in the heart of Pannipitiya – Palanwaththa. Consisting of 19 exclusive plots of land starting at just LKR 1.2 million per perch, Tranquil Acre offers a gated community with unmatched amenities, making it the perfect place…
Ayomi Gunawardana, the Chief Operating Officer and Co-Founder of Inivos Consulting Pvt Ltd, was awarded the coveted Digital Women Entrepreneur of the Year at the WCIC Prathibaabisheka Awards 2024. She also secured the prestigious Gold Award in the Medium Category of the Business Entrepreneur Women segment, further cementing her reputation as a leading force in…
Siyapatha Finance PLC ushered in the New Year with a vibrant multi-religious celebration held at the Head Office. The event, organized by the Human Resources Department, marked the beginning of 2025 with blessings symbolizing unity and hope. The ceremony included sermons by esteemed priests representing the four major religions—emphasizing the values of gratitude, harmony, and…
Sarovodaya Development Finance PLC (SDF) has achieved a new milestone as an ethical provider of financial services by becoming a full member of the prestigious Global Alliance for Banking on Values (GABV). This development is a significant step in SDF’s ongoing mission to promote financial inclusion and sustainable development across Sri Lanka. As the financial…
Unilever Sri Lanka has unveiled a state-of-the-art rooftop solar power system at its food factory and Distribution Center in Sapugaskanda. This project represents another step towards Unilever’s aim to convert to 100% renewable energy sources across its sites globally. The project combines 1,672 solar panels from the two facilities to produce a total of 970kW,…
Top News
The Sri Lanka Economic Summit organised by The Ceylon Chamber of Commerce will host a session focused on “Maximising Tourism Potential,”, exploring strategies to position Sri Lanka as a leading global destination, on 29 January at the Shangri La Hotel, Colombo. Discussions will focus on how Sri Lanka can achieve the goal of USD 8.5…
The Colombo Stock Exchange (CSE) and the National Commodity and Derivatives Exchange (NCDEX) of India, recently signed a Memorandum of Understanding (MoU) to collaborate and explore the development of derivatives and commodity products in Sri Lanka. This partnership will enhance the product offering and trading instruments at CSE. The collaboration will involve knowledge-sharing initiatives, technological…
The Planters’ Association of Ceylon (PA) has commended the Government of Sri Lanka for its decision to postpone the abolition of the Simplified Value Added Tax (SVAT) system to April 1, 2025. This decision, initially planned for January 1, 2024, followed strong opposition from a broad coalition of exporters and business chambers. While the postponement…
The Commercial Bank of Ceylon has been ranked the best for service excellence among Sri Lanka’s banks in the 2024 edition of the annual Customer Excellence Survey of LMD, the country’s pioneering business magazine. This is the second consecutive year that Commercial Bank topped the banking sector for service excellence in the LMD survey. Conducted…
SLASSCOM (Sri Lanka Association for Software Services Companies) is thrilled to announce the continuation of its partnership with the Royal Norwegian Embassy. This collaboration builds on a history of impactful programs that have transformed Sri Lanka’s knowledge and innovation sector, focusing on skill development, AI awareness, startups and the empowerment of women tech entrepreneurs. The…
Small and Medium-sized Enterprises (SMEs) sector has been identified as the most crucial sector of strategic importance to re-orient the country’s economy considering the sectorial contribution to the economy which is more than 50% to the country’s Gross Domestic Production. Nevertheless, the recent upheavals experienced by the country during last few years, following the 2019…
Reuters – China will continue to play a “positive role” in the International Monetary Fund and maintain friendly communication with other creditors, in assisting Sri Lanka to achieve financial relief and debt sustainability, China’s Xinhua news agency reported on Thursday. The two countries will strive to conclude a comprehensive China-Sri Lanka free trade agreement as…
The Digital Payments Promotion Campaign 2025 under the theme of “Shaping the Future through Digital Transactions” was launched by Dr. Nandalal Weerasinghe, Governor of the Central Bank of Sri Lanka (CBSL) on 9th January 2025, at the Magam Ruhunupura Administrative Complex in Hambantota. The campaign was organized by CBSL with the support of Mr. Bimal…
Analysis
China’s first energy law adopted by the Standing Committee of the 14th National People’s Congress in November 2024 is effective from 1st January 2025. Analysts believe that this is an unprecedented step to modernize China’s energy management. This law shall manage the energy sector establishing institutional frameworks for green & low carbon energy transition ushering…
By Dr Lakmini Fernando and Sunimalee Madurawala Sri Lanka’s economic crisis, fuelled by unsustainable debt and a default in 2022, left the country struggling to stabilise its economy. Its high climate vulnerability that disrupts livelihoods exacerbated the economic challenges. In the face of dual pressures from an economic crisis and climate vulnerability, the need for…
By Imesha Dissanayake Introduction Sri Lanka known for its biodiversity and strategic location, is increasingly challenged by the global climate crisis. With rising temperatures, extreme weather, and sea-level rise, the country faces disruptions across key economic sectors, particularly agriculture, tourism, and manufacturing. This article explores how trade policies can integrate climate action to transform vulnerabilities…
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