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A dark future looming as the Foreign Reserve down to  $ 1.5 b, lowest in the history – Eran

The opposition alleged in Parliament that foreign reserves have dropped to $ 1.5 billion which included the gold reserves of $ 300 million. The Govt. did not refute the opposition claim that the available cash reserve was only USD 1.5 billion less than one month’s import payment, lowest in history. He told a news conference…

(0) Comments | November 30, 2021 8:19 am

Featured

EMS Leisure Holdings breaks ground on Chatra

EMS Leisure Holdings (Pvt) Ltd recently held the ground breaking ceremony for ‘Chatra,’ its first local project focused on developing, selling and subsequently operating a Luxury Holiday Home Villa cluster in Digana, Kandy. The project is valued at Rs. 1.1 billion and is expected to be completed by August 2024. Chatra will be a gated…

(0) Comments | November 29, 2021 6:20 pm

Brandix secures 7th Exporter of the Year Award

Leading Sri Lankan apparel manufacturer Brandix was named ‘Exporter of the Year’ for the 7th time, winning the Award for 2019/20 at the 25th Presidential Export Awards 2019/20 and 2020/21. Organised by the Export Development Board, the event was held under the patronage of His Excellency President Gotabaya Rajapaksa. The company celebrated the collective effort…

(0) Comments | November 29, 2021 5:27 pm

Sophos strengthens distribution network in Sri Lanka and Maldives

Sophos, a global leader in next-generation cybersecurity, announced the appointment of South Asian Technologies (Pvt) Ltd (SAT), as its new distributor in Sri Lanka and the Maldives. SAT is a leading master distributor of highly rated ICT products and a leading global value-added supplier of network infrastructure, web security, data centres and digital imaging solutions….

(0) Comments | November 29, 2021 5:06 pm

Mastercard announces appointment of Sandun Hapugoda as Country Manager for Sri Lanka and Maldives

Mastercard today announced the appointment of Sandun Hapugoda as its new Country Manager for Sri Lanka and Maldives. Sandun succeeds Rajesh Mani who has transitioned to another role within Mastercard. Sandun joined Mastercard in 2017 to lead the company’s Digital and Value Added Services business in Sri Lanka and Maldives. Since then he has been…

(0) Comments | November 29, 2021 4:07 pm

Hela Wins Best Exporter Award 2021 at Presidential Export Awards

Hela Clothing, a leading end-to-end apparel supply chain solutions provider in Sri Lanka, recently received a glowing accolade in the form of the Best Exporter Award, for apparel in the medium category, at the Presidential Export Awards 2021. The award was accepted on behalf of the company by A. R. Rasiah, Chairman – Hela Clothing….

(0) Comments | November 29, 2021 4:01 pm

Rainforest Alliance – committed to strengthening its sustainability footprint in Sri Lanka

The Rainforest Alliance convened a reception in Colombo recently that brought together key organisations and individuals to share its work and explore potential opportunities to collaborate and partner in Sri Lanka.  The Rainforest Alliance is committed to create a landscape-level intervention in the region to address critical sustainability challenges and Sri Lanka is indeed a…

(0) Comments | November 29, 2021 2:07 pm

HNB’s commitment to expand e-commerce and digital payments wins Daraz award for Card Base with Highest Growth

HNB has been recognized by Daraz for exceptional contribution to its growth, in an independent endorsement of Sri Lanka’s leading private bank’s commitment to expand e-commerce and digital payments throughout the country. The award, for the ‘Card Base with Highest Overall Growth’, was presented to HNB at the ‘Daraz Payment Partner Performance Awards 2021’. HNB,…

(0) Comments | November 29, 2021 12:58 pm

Twin wins for Teejay Lanka at Presidential Export Awards

Wins ‘Best Exporter’ awards in the Knitted Fabric Sector for 2019-20 & 2020-21 Teejay Lanka PLC, Sri Lanka’s leading fabric manufacturer, won twin awards as the ‘Best Textile Exporter’ in Sri Lanka at the combined 2019-20 and 2020-21 Presidential Export Awards ceremony hosted by the Export Development Board (EDB). These are Teejay Lanka’s second and…

(0) Comments | November 29, 2021 10:43 am

Nestlé Lanka awarded the best performance in Environmental Sustainability at the Best Corporate Citizen Sustainability Awards 2021

Wins four Best Corporate Citizen Sustainability Awards Nestlé Lanka took home four awards at the Best Corporate Citizen Sustainability Awards 2021. Recognizing its strong efforts towards doing good for the planet, the company won in the categories of Corporate Environmental Commitment, Environment Beyond Business and the Triple Bottom Line Award on Environmental Sustainability for the…

(0) Comments | November 29, 2021 10:33 am

Richard Pieris Finance to drive rapid expansion in line with digital journey

Richard Pieris Finance Ltd, a fully owned subsidiary of the renowned Richard Pieris Group, and the sole financing arm under the renowned Arpico brand, recently revealed its plans to drive its network expansion in line with its digital journey. The company’s digital journey was propelled following its inclusion as a member of the exclusive CEFT…

(0) Comments | November 29, 2021 10:20 am

Top News

Business Sentiment – Confidence Dips amid Uncertainty

Business sentiment trends down in the wake of lingering concerns among corporates The trade deficit narrowed in September on the back of exports recording earnings in excess of a billion dollars for the fourth consecutive month this year. According to the Central Bank of Sri Lanka (CBSL), this alongside import expenditure remaining largely the same…

(0) Comments | November 30, 2021 7:43 am

ADB honours ComBank as Leading Partner Bank for Trade & Supply Chain Finance

The Commercial Bank of Ceylon has been adjudged the Asian Development Bank’s (ADB’s) ‘Leading Partner Bank in Sri Lanka’ at the 2021 edition of its Trade and Supply Chain Finance Programme (TSCFP) Awards that recognise banks that support trade in Asia and the Pacific. The award was conferred upon Commercial Bank for recording the highest…

(0) Comments | November 29, 2021 12:00 pm

Ceylon Chamber of Commerce joins the global movement to end gender based violence

The Ceylon Chamber of Commerce pledges to join the fight to end gender-based violence by joining the global campaign “Orange the World: 16 Days of Activism against Gender-Based Violence’. In Sri Lanka, the first dedicated national survey on violence against women and girls, the Women’s Wellbeing Survey, revealed that two in five women were subjected…

(0) Comments | November 29, 2021 10:49 am

Sri Lanka Economic Summit “Survival to Recovery: Reviving Tourism Inflows”

The upcoming Sri Lanka Economic Summit 2021, the foremost and most anticipated economic event of Sri Lanka, will host a lineup of contemporary dialogues under this year’s theme ‘Springboard for revival: Opportunity to reset’.  Day two of the event will feature a session dedicated to ‘Survival to Recovery: Reviving Tourism Inflows’ on 7th December, 2021….

(0) Comments | November 29, 2021 10:47 am

HNB focused on remittances as an engine for development

Underpinning the power of remittances to drive development and in support of Central Bank of Sri Lanka’s (CBSL) efforts to optimize inward remittances to Sri Lanka, leading private sector bank HNB PLC, recognized and rewarded their top achieving customers, at a special ceremony at their premises. The event featured CBSL Governor, Ajith Nivard Cabraal as…

(0) Comments | November 29, 2021 6:18 am

“Explore 2021” – Virtual Familiarization Tour of MICE Venues by SLCB

Sri Lanka Convention Bureau (SLCB) recently organaised its first ever virtual familiarization tour of the newest and unique MICE (Meetings, Incentive travel, Conferences, Exhibitions) venues located in the areas from Colombo up to Beruwala and Colombo upto Waikkal. Over 100 participants representing local professional conference organisers, professional exhibition organisers, professional event organisers, meeting planners, wedding…

(0) Comments | November 29, 2021 6:16 am

President presents awards for outstanding personalities in Export sector

President Gotabaya Rajapaksa said that in the future too many unpopular decisions will have to be taken to overcome the global economic challenges and to keep the country on the path to prosperity. Even though the people criticized these interventions, the country and the people would reap the benefits in the near future, the President…

(0) Comments | November 29, 2021 12:14 am

A national consensus on structural reforms needed to get out of the economic crisis

Sri Lanka is already in one of the worst economic crises in its history. The reforms are so difficult that no party will want to even contemplate let alone implement them fearing loss of popularity. The longer reforms are postponed, the worse the problem becomes which makes remedies even more difficult to implement. The only…

(0) Comments | November 26, 2021 5:37 pm
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Analysis

Business Sentiment – Confidence Dips amid Uncertainty

Business sentiment trends down in the wake of lingering concerns among corporates The trade deficit narrowed in September on the back of exports recording earnings in excess of a billion dollars for the fourth consecutive month this year. According to the Central Bank of Sri Lanka (CBSL), this alongside import expenditure remaining largely the same…

(0) Comments | November 30, 2021 7:43 am

UNICEF on Budget Speech 2022

A nation’s budget is not only a statement of income and expenditure but also an instrument for implementing the priorities of the government. Since almost the entirety of resources for social sectors, including for service delivery that is crucial for children’s wellbeing, is funded by public sector budgets, a country’s budget is one of the…

(0) Comments | November 25, 2021 4:22 pm

The Karachi Coastal Comprehensive Development Zone

The Silk Road Journal by Mahika Ming The latest addition to the China Pakistan Economic Corridor (CPEC) is the Karachi Coastal Comprehensive Development Zone (KCCDZ). It is expected to create synergy in the BRI and CPEC as per Pakistani sources.  The farsighted decision has been taken at the CPEC’s 10th Joint Cooperation Committee Meeting. This…

(0) Comments | November 22, 2021 5:40 am
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Oxford College of Business Win Hallbars Sustainability Award 2021

Movies have Oscars, Sustainability now has Hallbars ! Oxford College of Business has been awarded the sustainability ‘Oscar’ at the Hallbars Sustainability Reports Awards held at the Alfred Nobel House in Karlskoga, Sweden on October 21, the birthday of inventor and founder of the Nobel Prizes, Alfred Nobel. Due to Covid-19 attendance restrictions, Oxford College…

(0) Comments | October 26, 2021 12:12 pm

SLT-MOBITEL clarifies misinformation regarding the management of the Lanka Government Cloud and providing services to NMRA

SLT-MOBITEL’s attention has been drawn to recent media reports citing its management of the Lankan Government Cloud (LGC) server and provision of services to the National Medicines Regulatory Authority (NMRA). Several media reports published have stated that NMRA data which included confidential information on the formulation of drugs and other supporting documents had been allegedly…

(0) Comments | September 15, 2021 3:35 pm

Oxford College of Business ranked 9th ‘Best Workplaces in Asia’ for SMEs in 2021

Oxford College of Business, bagged the 9th spot in the “Best 100 Small and Medium Business” category, global firm Great Place to Work. The survey conducted by the global firm Great Place to Work reached out to 3.3 million employees from over 1,000 companies across 16 countries in Asia and the Middle East. It involves…

(0) Comments | September 9, 2021 12:02 pm
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