3-wheel taxis to be regulated
The Government is embarking on the difficult task of regulating 3-wheeler taxis comprising around 900,000 vehicles which provide self-employment for over 3 million people both directly and indirectly. At present there is no law which regulates three-wheelers. Necessary regulations for this purpose are to be finalised by the Legal Draftsmen and the possibility of amending [...]
260 powerful Sri Lankans have secret Swiss accounts
The Inland Revenue Department (IRD) is to ask a group of locally-based Sri Lankans with secret Swiss bank accounts to make a fresh assets’ declaration after a new complaint was filed seeking action on their undeclared foreign accounts. A senior IRD official said tracing black or unaccounted money overseas owned by Sri Lankans is not [...]
Citrus Kalpitiya seeks to clarify Prime Minister’s Parliamentary statement
The Kalpitiya Resort Beach project that made an Initial Public Offering (IPO) two years back would be now awaiting the new government plans, clarification on a possible probe on its company and “the feasibility of an alternative location”, a stock exchange filing stated. Prime Minister Ranil Wickremesinghe stated in Parliament on March 17 that the [...]
Call early parliamentary polls, Ceylon Chamber urges
Sri Lanka’s top chamber group on Thursday urged the Government to hold parliamentary polls as promised (ahead of schedule) while raising concerns over diverse positions in the coalition administration. “… the Ceylon Chamber of Commerce (CCC) urges the President and Government to call a general election at the earliest possible opportunity preferably keeping to the [...]
‘Lotus Tower’ project continues amidst Chinese project reviews
Amidst the government’s decision to review Chinese projects, the US$104.3 million ‘Lotus Tower’ project is being continued at D.R. Wijewardena Mawatha Colombo. “No decision has been taken to re-examine the Chinese EXIM Bank funded ‘Lotus Tower’ and the work is on according to schedule,” M.M. Zuhair, Director General of the Telecommunication Regulatory Commission (TRC) told [...]
Sustainable development of Kalpitiya as a unique island resort destination
The Kalpitiya Integrated Project must be revisited under strict disciplines and must not become an environment closer to some destinations packed with mushroom developments every 10 metres. We must continue to support the southern and the eastern tourism profit modules while carefully segregating clients for different market segments so the southern hotels keep their market [...]
Daunting challenges with elections round the corner
On Monday April 12, a 3-wheeler parked outside a 40-year old apartment complex at Narahenpita in Colombo was doing brisk business selling Avurudu sweetmeats. Loaded with kavum, kokkis and other traditional food including the ubiquitous plantain stacked in corrugated biscuit boxes, a couple peruses a list of orders and goes round delivering the goods to [...]
Central Bank cuts policy interest rates by 0.5 %
The Central Bank (CB) on Wednesday cut policy interest rates by 0.5 per cent with immediate effect saying current market interest rates are seen inconsistent “with the continued low inflation and investments needed to address concerns on economic growth for the year”. Policy interest rates normally set the tone for the banking sector and the [...]
Golden Key probe getting nowhere despite promises
Why is the government taking so long and ignoring the plight of the Golden Key depositors? The previous regime did absolutely nothing to settle this long, outstanding issue. Many depositors have committed suicide and many were put into financial embarrassment and even thrown to the streets. It is a known fact that the Rajapaksa’s were [...]
Norfolk Foods explores product innovation with 3D Concept Studio
Norfolk Foods, a joint venture of British and Sri Lankan origin, has utilised 3D printing to innovate and customise their food production to suit their customer’s needs. The company commissioned 3D Concept Studio, the first rapid prototyping firm in Sri Lanka, to customise an existing machine to produce a specialised product. “We constantly use machines [...]
Cinnamon red Colombo emerges as ‘Best New Hotel (Mid-Market Segment) in South Asia’
Cinnamon red Colombo, part of the Cinnamon Hotels & Resorts chain, won the ‘Best New Hotel of the Year’ award in the ‘Mid-Market’ segment at the 11th Hotel Investment Conference – South Asia (HICSA) 2015, held recently in New Delhi. The annual HICSA ‘Hotel of the Year’ awards have been instituted to honour and recognise [...]
Comtrust Equity Fund maintains Rs.2 dividend for the fifth consecutive year
The Comtrust Equity Fund has declared a dividend of Rs.2 for the year ended 31 March 2015 (FY15), one of the highest dividend payment for the current year by an Equity Fund in the Unit Trust industry. Incidentally, this is also the fifth consecutive year that the Fund has distributed Rs 2 per unit as [...]
Leo Burnett’s Murtaza Tajbhoy, first Sri Lankan to serve on the jury of the AME Awards
Murtaza Tajbhoy, Head of Brand Planning, Leo Burnett Solutions Inc. (LBSI), has been selected to serve on the respected jury of the Asian Marketing Effectiveness Festival and Awards show which will take place this May in Shanghai, China. Each year, the AME Festival brings together communications professionals and acknowledges campaigns that have delivered exceptional results. [...]
Guaranteed wages and security of employment recommended for local domestic workers
A recent research study on protecting domestic workers in Sri Lanka has recommended a guaranteed minimum wage, decent working conditions, social security, proper registration and laws on personal safety. The March report by the Legal Research Team at Verité Research, in a study titled “Sri Lanka: Domestic Workers – An Analysis of the Legal and [...]
John Keells takes ‘soft skills’ workshop to the University of Colombo
Another successful edition of The Final Step soft skills workshops for University undergraduates was conducted by John Keells Foundation (JKF) at the University of Colombo on April 7-9. The programme was conducted in collaboration with the Faculty of Management & Finance, attracting over 160 undergraduates each day. “The Final Step soft skills workshops organized by [...]
Negombo’s popular ‘Kola Kennda’ roadside vendor becomes craftsman by day
Kola (herbal) Kennda man turns ‘Pol -katu’ hero (coconut shell craftsman) is the story of Mark Anthony Perera from Katunayake. After school, he started work in a galvanizing factory – B.S.K. Enterprise in 1975 and while working their one day his boss, P.D.B.S. Basnayake found one of the workers scribbling his name on a barrel. [...]
Sri Lankan universities compete against each others in 2 day Hackanix
Fifteen teams from top universities and ICT Institutes from across the island competed in ‘Hackanix 2015’, a 2-day hackathon organised by AIESEC from the University of Moratuwa held recently in collaboration with Microsoft Sri Lanka. The event, held at Trace City, Maradana, had 5-member teams from education institutions such as the Universities of Colombo, Moratuwa [...]
Cinnamon Care to attract more self –paying senior residents from the UK, USA and Europe
A Sri Lankan elderly care service, will be expanding its facilities for more self –paying senior residents in the UK, the US and other European countries to spend the latter part of their retired lives in high-end-care homes in Sri Lanka, Managing Director of Cinnamon Care Services (Pvt.) Ltd, Jeff Wicks told the Business Times. [...]
Lankan exporters cry foul over India’s quality standard criteria under FTA
Despite Indian Prime Minister Narendra Modi’s assurance during his recent visit to the island that all necessary measures will be taken towards allowing Sri Lankan goods to enter Indian markets smoothly, local exporters complain that they still find it difficult to clear their goods under the Free Trade agreement from Indian Customs. Some of the [...]
Forced by collapse of a finance company to become an entrepreneur
Not only high-tech IT but creativity, talent and designing with innovative creations could also be transformed to produce attractive, marketable products. The difficulties in life that the average person face also energises people to become innovators to create products, first for a living and then developed into a huge business. Ranil Ferdinando from Nelumpura, Ratmalana [...]
