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Amending Limits and Terms and Conditions on Possession of Foreign Currency

With the intention of attracting foreign currency in the hands of the public into the formal banking system, the Minister of Finance has issued an Order under Section 8 of the Foreign Exchange Act No. 12 of 2017 as follows: Reducing the amount of foreign currency retained in possession by a person in, or resident…

(0) Comments | June 25, 2022 9:47 am

Featured

SLT-MOBITEL AkazaLMS enables corporate employee capability development

Locally developed unique enterprise learning solution provides high-quality, diverse training As SLT-MOBITEL, the National ICT solutions service provider, continues to play a pivotal role in driving Sri Lanka’s digital transformation through its Cloud-managed offering, SLT-Mobitel AkazaLMS takes centre-stage as the nation’s leading Learning Management System (LMS). SLT-Mobitel AkazaLMS   offers a unique, locally developed, comprehensive enterprise…

(0) Comments | June 24, 2022 12:37 pm

Swadeshi Khomba illuminates Wariyapola, Kolambagama Miyugunarama Rajamaha Viharaya during Poson

The Swadeshi Industrial Works PLC, the pioneer and the market leader in herbal personal care products in one of its community support initiatives recently sponsored the “Aloka Poojawa” of the historic Wariyapola, Kolambagama Miyugunarama Rajamaha Viharaya on the Poson Full Moon Poya day, “Swadeshi Khomba Aloka Puja Sathkaraya” is a concept of Swadeshi Chairperson Ms….

(0) Comments | June 24, 2022 12:04 pm

Co-operative Insurance records strong 31% growth for 1Q22 amidst macroeconomic challenges

Over 31% growth in 1Q22 Increases market share by 5% 5% PAT (Group) increase for FY21 Leading Sri Lankan insurer Co-operative Insurance Company PLC (CICPLC) recently released its latest results for the first quarter of 2022, placing itself on a stronger position with an impressive growth of 31 percent compared to the same period of…

(0) Comments | June 23, 2022 4:17 pm

Samsung introduces Big Offer Days for Galaxy accessories

Samsung, Sri Lanka’s No.1 smartphone brand, recently unveiled their promotional prices for Galaxy accessories to alleviate the financial burdens of consumers in the midst of turbulent times. Samsung, as a caring brand for its people, has introduced up to 48% discounts in their promotional prices and hence relieves consumers of paying large sums for accessories…

(0) Comments | June 23, 2022 3:00 pm

Bairaha Farms PLC donates dry rations to support Ellalamulla village in times of economic crisis

Bairaha Farms PLC, the pioneer chicken processor in Sri Lanka for nearly five decades, completed yet another worthy CSR project by distributing dry food rations to the community of Ellalamulla village, in the Gampaha District. Ellalamulla village is home to the Bairaha processing factory and the initiative was a meaningful CSR project aimed at helping…

(0) Comments | June 23, 2022 2:49 pm

HNB partners with Bileeta to offer tech support to SMEs

Sri Lanka’s premier private sector bank HNB PLC renewed its partnership with Bileeta Ltd., a dominant player in the local ERP space, to provide state-of-the-art ERP solutions to its SME customers at affordable rates. The exclusive collaboration between the two pioneers enables the Bank’s SME customers to streamline various functions of their business operations, such…

(0) Comments | June 23, 2022 2:38 pm

ALT X assigned by Neptune Recyclers for Brand and Marketing strategy

Altered Experience (ALT X), Sri Lanka’s international award-winning digital, data, and design thinking partner for the age of convergence, has been selected by Neptune Recyclers to develop their brand and marketing strategy. Neptune Recyclers, a fully owned subsidiary of Expack Corrugated Cartons PLC, is a widely recognized pioneer in the Recycling and Waste Management sector…

(0) Comments | June 23, 2022 2:10 pm

AIA continues its societal support through its digital Vesak Dane, with a donation to HelpAge Sri Lanka

AIA Insurance continued its societal support in a novel way during the most sacred month of Vesak, by organising a first of its kind ‘Digital Dane’. The ‘Digital Dane’ was a virtual alms giving that invited AIA’s social media followers to engage with a spiritual wish during Vesak based on the five powerful blessings associated…

(0) Comments | June 23, 2022 1:41 pm

‘Daraz Golf Monthly Medal’ tees off this week

Draws top players and golf enthusiasts to RCGC The June Monthly Medal hosted by the Royal Colombo Golf Club (RCGC), in collaboration with Daraz Sri Lanka, kicks off this week, scheduled to take place on 24th and 25th of June 2022. Activities on the golf calendar of Sri Lanka’s oldest and premier golf club are…

(0) Comments | June 23, 2022 1:01 pm

NDB Wealth Management appoints Ruwan Perera as new CEO

NDB Wealth Management Limited, has appointed Ruwan Perera as the new Chief Executive Officer, from June 2022. Ruwan served as Chief Operating Officer since 2014 and has been a pioneering team member of NDB Wealth since 2009 when it was established under NDB Group. He succeeds Prabodha Samarasekera, who recently retired after serving as CEO…

(0) Comments | June 23, 2022 12:51 pm

Top News

Dr. Sanjiva Weerawarana, WSO2 Founder and CEO, Receives 2022 IEEE TCSVC Research Innovation Award

The IEEE TCSVC Research Innovation Award recognized Dr. Weerawarana for outstanding technical innovations in the field of services computing that have had a lasting impact WSO2, a leader in digital transformation technology, today announced that Dr. Sanjiva Weerawarana, WSO2 founder and CEO, is a recipient of the 2022 IEEE TCSVC Research Innovation Award. Each year,…

(0) Comments | June 24, 2022 2:26 pm

How the economic crisis in Sri Lanka is affecting Indian businesses?

Sri Lanka’s economy is in a free fall. But some spillover of the Lanka crisis is hurting Indian businesses too, like the auto sector. We try to gauge the overall effect of the crisis on India Business Standard – Sri Lanka is in a crisis. Covid-19 has sent the economy into a tailspin, and it…

(0) Comments | June 24, 2022 2:14 pm

Luminex Limited Officially Enters the Stock Market with a Listing on the CSE

Luminex Limited Lists on the Diri Savi Board after a capital raise of Rs. 250 Million 5th Equity Listing on the Exchange in 2022 Following the completion of the IPO process, the shares of Luminex Limited (CODE: LUMX-N-0000) ceremoniously commenced trading on the Colombo Stock Exchange (CSE) on the 23rd of June 2022. The shares…

(0) Comments | June 24, 2022 12:05 pm

New Insights into Sri Lanka Cauvery and Mannar Basins from FTG and Aeromagnetic Data to be presented at SEAPEX 2022

Bell Geospace, the world leaders in gravity gradiometry, has conducted the first aerial mapping of petroleum resources in Sri Lanka in Q4 of 2021, and will be presenting these insights – together with Wintermoon Geophysics- at the prestigious SEAPEX (South East Asia Petroleum Exploration Society) Asia Pacific Conference in London on Thursday the 30th of…

(0) Comments | June 24, 2022 9:13 am

Dilshan Wirasekara appointed as the new CSE Chairman

The Colombo Stock Exchange (CSE) is pleased to announce the appointment of Mr. Dilshan Wirasekara as the Chairman of the Board of Directors of the CSE with effect from 24th June 2022. Mr. Wirasekara has served on the Board of the CSE since 21st November 2017 and succeeds Mr. Dumith Fernando, who steps down as…

(0) Comments | June 24, 2022 9:05 am

How Sri Lanka’s Financial Crisis Could Become the World’s

(Bloomberg) – The calamity gripping the island nation’s 23 million people threatens to sweep up hundreds of millions more across five other countries. As the US, UK and other wealthy nations grouse about the prospect of stagflation and risk of recession, people in some emerging nations are facing more perilous questions about how to find…

(0) Comments | June 23, 2022 4:37 pm

European Union, Germany and EDB offer technical support to organic agriculture producers and exporters in Sri Lanka

Recognizing Sri Lanka’s potential in the organic agriculture sector and its’ importance for food security, the European Union (EU), the German Federal Ministry for Economic Cooperation and Development (BMZ) and the Export Development Board (EDB) have launched the Organic Agriculture Webinar Series: one-of-a-kind, accessible and educational video episodes that explore a variety of topics including…

(0) Comments | June 23, 2022 4:21 pm

SriLankan Airlines’ Cares Airlifts Critical Medicine to Sri Lanka

Sri Lankan Cares takes on the cause of airlifting internationally donated essential medicines and medical equipment to hospitals in Sri Lanka, free of freight charges. The corporate social responsibility arm of Sri Lankan Airlines aims to provide timely relief to hospitals that are struggling to cope with the ongoing drug shortage and patients who depend…

(0) Comments | June 23, 2022 3:02 pm
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Analysis

Towards a Developed Urban Transportation System: Lessons for Sri Lanka

A new publication from the Institute of Policy Studies of Sri Lanka (IPS) calls for a legally binding master plan for public transportation in Sri Lanka, whereby urban transport will become a fully integrated system instead of a collection of projects. The study notes that despite a broad planning context, the progress made in public…

(0) Comments | June 21, 2022 10:46 am

Lesson for USA and SL from Chinese Children: Replace Weapons with Jade and Silk

By Prof. Samitha Hettige A person less than 18 is considered a child (UN convention on the rights of the child).  Children of one small pre-school in China donated their day’s pocket money (approx 5 million SL rupees) to help SL children suffering in the crisis. Those Chinese children may be too small to know…

(0) Comments | June 20, 2022 10:29 am

Battered by economic crisis, Sri Lankans seek passport to a better life

Reuters – R.M.R Lenora stood in a snaking queue outside Sri Lanka’s Immigration and Emigration Department headquarters for two days last week, hoping to get a passport and, with it, a chance to leave a country wilting under an economic crisis. A garment worker, 33-year-old Lenora decided to apply for a job as a maid…

(0) Comments | June 17, 2022 9:14 am
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ICRA Lanka Limited upgrades Asia Asset Finance PLC credit rating to an impressive [SL]A- amidst pandemic conditions

23rd January 2022, Colombo: Asia Asset Finance (AAF) PLC’s issuer rating was upgraded by ICRA Lanka Limited to [SL]A- from [SL]BBB+, an important benchmark of credit quality for partners and customers. AAF is a 73% owned subsidiary of Muthoot Finance Limited (MFL), which is the largest Gold Loan Finance Company in India and the global…

(0) Comments | January 24, 2022 11:52 am

TISL launches Apesalli.lk on International Anti-Corruption Day 2021

TISL launches Apesalli.lk on International Anti-Corruption Day 2021 The landscape of corruption the world over has changed drastically due to the Covid-19 pandemic in the past two years, increasing opportunities for corruption while deepening the adverse impact of corruption upon the people. Here in Sri Lanka, there have been numerous scandals and corruption allegations that…

(0) Comments | December 14, 2021 11:56 am

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
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