Lead Story

CBSL Governor sets record straight on export remittances & conversions

The Joint Apparel Association Forum (JAAF) asserts that its membership strictly abides by the Central Bank laws on repatriating export income, reiterating that the apparel sector brings back the entirety of its export proceeds to Sri Lanka. Governor of the Central Bank of Sri Lanka Dr Nandalal Weerasinghe affirmed this in an interview on December…

(0) Comments | December 9, 2022 10:51 pm

Featured

Bristol Institute holds a successful graduation ceremony celebrating top achievers

The Bristol Institute of Management who currently enjoys an unmatched reputation of being the trendsetter and provider of UK education in Sri Lanka, partnered with a highly ranked global university, celebrated another key milestone in their journey at their recent graduation ceremony held in grand style at the Marino Hotel in Colombo, that witnessed over…

(0) Comments | December 9, 2022 4:57 pm

NDB Bank Takes Action to Preserve the Unique Biodiversity of Pitawalapathana

Pitawalapathana is a grassland located in the Knuckles Conservation Forest in Riverston, Matale. It is universally recognised for its unique biodiversity including amphibians, small mammals, lizards and many endemic flora and fauna species such as Watessa, Binara, Kandulessa, Nilmonaressa and Pathan Ala. One of the most fascinating species in this area is the carnivorous plant…

(0) Comments | December 9, 2022 4:48 pm

Fortinet LEAP 2022 Security Summit: Addressing Today’s Cybersecurity Challenges through Security-Driven Networking

Fortinet, the global leader in broad, integrated, and automated cybersecurity solutions, recently hosted top customers from Sri Lanka & SAARC at Fortinet LEAP 2022 Security Summit in Istanbul, Turkey. The event shared essential practices and recommendations to help organizations strengthen their security posture and was attended by over 80+ customers. With cyberattacks on the rise,…

(0) Comments | December 9, 2022 3:33 pm

KTI – Kiddies & Toys International’s own brand ‘Kids Joy’, commemorates its 15th Anniversary by lifting lives of expectant mothers

Kids Joy, a world-class product by Kiddies & Toys International (KTI), a subsidiary of leading Sri Lankan conglomerate LIMRA Holdings, celebrated its 15th anniversary by bringing smiles to the faces of expectant mothers from underprivileged communities recently. As a leading mother and baby care products brand, Kids Joy envisions to be a part of every mother’s…

(0) Comments | December 9, 2022 3:22 pm

Daraz Carol Bus gears up to spread Christmas cheer across Colombo

It’s the most joyous time of the year! Are you in the mood for some festive cheer? When streets are sprinkled with lights, harmonies of angelic Christmas carols are a central part of the season and a great way to tune up to the Christmas spirit. Adding to a merrier Christmas experience, Daraz, the leading…

(0) Comments | December 9, 2022 3:13 pm

Luka Modrić, Vinícius Júnior and Toni Kroos wonder: to fly or to fly better with Emirates?

The Real Madrid stars are featured in a new advertising campaign to boost travel during the winter season Emirates and Real Madrid are looking to capture the attention of football fans with the launch of two ads to attract customers to travel this winter across the airline’s network of more than 130 destinations including Dubai….

(0) Comments | December 9, 2022 2:01 pm

Sampath Bank bags two Gold Awards at National ICT Awards – NBQSA 2022

In recognition of Sampath Bank’s outstanding commitment toward the development of ICT products and services, the financial institution recently secured two Gold Awards at the 24th National Best Quality ICT Awards (NBQSA) 2022, surpassing leading ICT organisations in the country. At a gala ceremony held recently at Monarch Imperial, Sampath Bank clinched the Overall Gold…

(0) Comments | December 9, 2022 11:39 am

Prima co-sponsors Havelock Sports Club rugby team

As a leading nutrition provider to the nation, Prima has made pioneering contributions to national youth causes. Prima Group Sri Lanka has always been a force behind empowering youth through sports and has supported young sporting talent in rugby, cricket, golf, athletics and other sports to reach the highest levels of the game. With this…

(0) Comments | December 9, 2022 11:34 am

WindForce clinches Silver at CA Sri Lanka’s prestigious TAGS Awards 2022

WindForce PLC, Sri Lanka’s largest independent renewable energy company, was crowned the Silver winner under the ‘Power and Energy Sector’ category at the coveted TAGS Awards 2022, organized by The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka). This year’s TAGS Awards marked the 57th edition of the competition, which honours multinationals, conglomerates,…

(0) Comments | December 9, 2022 11:23 am

Assetline ‘Deshayata Jawayak’ workshop to uplift the small and medium-scale entrepreneurs

The first phase of the ‘Deshayata Jawayak’ workshop organized by Assetline Finance Limited under their CSR umbrella to support the small and medium enterprises in Sri Lanka will be held on 10 December 2022 from 9.30 am at the DPMC Auditorium in Talaramba, Kamburugamuwa, Matara. Mr. Charminda Kumarasiri, Senior Chartered Accountant and Chairman of Asia…

(0) Comments | December 9, 2022 11:17 am

Top News

China Eastern takes delivery of the world’s first made-in-China C919 jet

Reuters – The world’s first C919, a Chinese-made narrowbody jet, was delivered to launch customer China Eastern Airlines (600115.SS) in Shanghai on Friday and took off for a 15-minute flight to mark the historic moment. The plane, a rival to the Airbus (AIR.PA) A320neo and Boeing (BA.N) 737 MAX single-aisle jet families, is expected to…

(0) Comments | December 9, 2022 4:58 pm

Sri Lanka Tourism hosts a Media FAM for a group of Indian Media personnel

A group of Indian media personnel including Journalists, bloggers and influencers arrived in Colombo on the 15th of November, in order to develop Bilateral connections and show their support as a good neighbor to promote Sri Lanka and help it to keep its status as one of the most popular tourist destinations in the world….

(0) Comments | December 9, 2022 11:40 am

Global Lodging Sector Recovery Stalled by Weaker Macro Environment

Fitch Ratings : The deteriorating sector outlook for global lodging reflects Fitch Ratings’ expectation that the strong recovery in demand that started in 2022 will be halted in 2023 by a weaker macroeconomic environment. Demand will soften in the European and North American markets, although in APAC (excluding China) it may continue rebounding as travel…

(0) Comments | December 9, 2022 10:58 am

Hayleys Group companies honoured for export innovations and nation-mindedness

Wins 20 prestigious accolades at National Chamber of Exports Annual Awards 2022 Ranked No.1 Corporate for 2nd consecutive year by Business Today Top 40 2021-2022 The Hayleys Group received top honours at the recently concluded National Chamber of Exports Awards, with its export manufacturing, agriculture, tea export, and transportation and logistics sectors honoured for their…

(0) Comments | December 9, 2022 8:43 am

Budget 2023 unrealistic and becomes a failed budget amidst ever-shrinking economy – Eran

Mr. Eran Wickramaratne, commencing the Parliamentary debate on the budget heading of the Ministry of Finance Thursday questioned as how to increase the state revenue by 61% as stated in the budget proposals presented by the President and Finance Minister Mr. Ranil Wickramasinghe, while the country’s economy continues to shrink. Mr. Wickramaratne, who started the…

(0) Comments | December 8, 2022 4:40 pm

Fitch Ratings: APAC Sovereigns to Face Risks from Slowing Global Growth in 2023

Fitch Ratings: Continued global headwinds imply lower GDP growth for many Asia-Pacific (APAC) sovereigns in 2023, as well as higher interest costs and slower fiscal consolidation, Fitch Ratings says. Asia’s export outlook is deteriorating, and US Fed rate hikes have led to a strong US dollar, declining FX reserve buffers, and refinancing pressures for “frontier…

(0) Comments | December 8, 2022 9:55 am

Global Home Prices to See Declines or Lower Growth in 2023

Fitch Ratings : Nominal home price growth will decline or slow substantially in 2023 in most countries, primarily as a result of cooling demand due to high mortgage rates and rising cost of living, Fitch Ratings says in its Global Housing and Mortgage Outlook. This will follow a period of price declines in the second…

(0) Comments | December 8, 2022 8:52 am

ADB Vice-President Meets Sri Lanka President and Discusses Future Assistance

Asian Development Bank (ADB) Vice-President Shixin Chen met with Sri Lanka President Ranil Wickremesinghe on 5 December. Mr. Chen noted the measures that are being taken to contain the crisis and address its underlying causes, and supported the steps taken to seek international assistance. Mr. Chen briefed the President on ADB’s emergency response to the…

(0) Comments | December 8, 2022 8:45 am
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Analysis

Lessons from Chanakya – By Prof. Samitha Hettige

SL is in a serious economic crisis & it’s a rare opportunity. Typical Sri Lankans may think that the leadership and the population should be always divided. May be it is a result of downloading the West Minister system from above. Most thriving civilisations which didn’t limit its mindset to above including Indian and Chinese…

(0) Comments | December 6, 2022 11:07 am

Remembering President Jiang Zemin – By Prof. Samitha Hettige

Former President of the Peoples Republic of China (PRC) Jiang Zemin passed away on 30th November 2022 at the age of 97. He was in office from 1989 till 2002. President Jiang was once the Mayor of Shanghai. It is the international centre of China since the colonial days. When China planned to open its…

(0) Comments | December 1, 2022 3:05 pm

CCC Proposals on State Owned Enterprise Reform

The presence of SOEs in strategic sectors of Sri Lanka is proof of the significant value creation it can generate through spillover effects. The societal returns too are greater as it links to our day-to-day activities such as the water we drink, the electricity we use, or even the bus or train we ride. Therefore,…

(0) Comments | December 1, 2022 10:28 am
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