Lead Story
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…
Featured
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…
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…
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….
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…
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….
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…
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,…
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…
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…
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…
Top News
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…
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…
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…
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….
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…
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…
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…
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…
Analysis
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…
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…
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…
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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…
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…
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…
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