Cows come home with goods
Old habits die hard, and in this case, costs are also an issue. This trader in Ohiya in the Badulla district transports his produce to the market, strapping them to his cattle. The return journey is the same – the cows come home with whatever goods for the household. Pic by Amila Gamage
Possible GSP+ postponement averted
Pressure on the Sri Lankan Government to deliver on its promise of ensuring that GSP+ benefits, if approved, are passed down to workers, has averted a possible delay in the process. While the European Union (EU) is set to decide next month on Sri Lanka’s request for a resumption of trade concessions under GSP +, [...]
Independent public trust to manage state pension funds
Amidst growing protests from trade unionists and opposition politicians, the government is gradually going ahead with employees’ retirement benefit reforms. The Employees’ Provident Fund (EPF), Employees’ Trust Fund (ETF) and the government pension scheme will undergo drastic changes under this initiative phase by phase. These reforms are aimed at improving the efficiency of management in [...]
Tube wells to be regulated by Govt
Government authorities are cracking down on large-scale, unauthorised use of ground water resources, stepping up regulations and approvals in this sector not only in industrial use but for other users as well. In a public announcement on April 6, the National Water Resources Board (NWRB) said industrialists engaged in commercial activities utilising ground water and [...]
BOI Chief gets tough
Senior staff at the Board of Investment (BOI) has been given strict directions by its Chairman Upul Jayasuriya to refrain from communicating ‘negative’ vibes to foreign investors without informing him. “I instructed them that saying ‘no’ to foreign projects should be vetted by me before going to the respective investors,” he told the Business Times [...]
It’s the ‘Kunu’, stupid
Kussi Amma Sera (KAS) is back from the long Avurudu holidays, after spending time in the village with her children and, as usual, grumbling about the weather, cost of living and other household chores. I was punching the keys of the old home desktop preparing to write about the weather, climate change and the economic [...]
Urgent action needed to overcome impending Lankan economic disaster
The Sri Lankan economy is facing a grave economic crisis: Government revenue has plunged from 16.8 per cent of GDP in 2000 to 13 per cent of GDP in 2015. The overall budget deficit which was – 9.5 per cent of GDP in 2000 is -7.4 of GDP in 2015. The Government therefore has to [...]
Swisstek to increase capacity
Swisstek Aluminium PLC is gearing to expand its 450 metric tonnes (MT) capacity to 1,000 MT within three months in a bid to cater to the greater demand, officials say. “The total demand now for aluminium is 2,500 MT for a month. So there’s a lot of scope,” an official told the Business Times. This [...]
Colombo forum to address easing trade for Sri Lankan business
A forum has been organised by the International Chamber of Commerce Sri Lanka (ICCSL) and the Global Alliance for Trade Facilitation in Colombo on April 26. where participants will discuss how to make cross-border trade more efficient for Sri Lankan business. The forum will feature speeches and discussions from the Minister of Industry and Commerce [...]
Sri Lankan hydraulic expertise improves Algeria’s harbour facilities
Sri Lankan hydraulic expertise has helped to optimise Algeria’s harbour facilities for the sixth time in succession, officials said. Lanka Hydraulic Institute Ltd (LHI), a leading Sri Lankan engineering consultancy firm has extended its expertise by conducting hydraulic modelling for six harbour projects during the past few years, they revealed. This leading Sri Lankan engineering [...]
CILT Sri Lanka elects new council thro’ secret ballot
The Chartered Institute of Logistics and Transport (CILT) Sri Lanka held its 33rd Annual General Meeting (AGM) in Colombo recently, marking also the first time members were elected by a secret ballot. Capt. Lasitha Cumaratunga was re-elected as the Chairman for a second term while the three Vice Chairpersons elected were Dr. T. Lalithasiri Gunaruwan, [...]
CIMA’s new competition to find Sri Lanka’s best young business brains
The CIMA’s new Corporate Business Leaders’ Challenge will see teams of managers from companies in Sri Lanka battle it out in a new competition designed to test their business acumen. The first teams are due to compete in October this year, the organisation said in a media statement this week. Companies will nominate teams of [...]
Several European brands at Fine Furniture
Fine Furniture, the brainchild of Martin Klement, a former structural engineer and his partner Niluka Klement, in a brief period of three and a half years have successfully established a new benchmark for luxury living in Sri Lanka and raised the bar vis a vis customer expectations and service . “At Fine Furniture we promote [...]
Fitch upgrades Sri Lanka’s Continental Insurance to ‘A (lka)’
Fitch Ratings has upgraded Sri Lanka-based Continental Insurance Lanka Ltd’s (CILL) National Insurer Financial Strength Rating and National Long-Term Rating to ‘A (lka)’ from ‘A- (lka)’. The upgrade reflects the non-life operator’s improving underwriting performance, satisfactory capitalisation, improving market franchise and prudent investment policy, the rating agency said in a media release. It said the [...]
Norwegian expert stresses need on developing modern waste disposal methods
Even after the huge garbage mountain in Meethotamulla collapsed destroying 145 homes and killing at least 32 people, Sri Lankans are still not concerned on following proper management of litter in their households which will reduce the garbage dumps in the country. According to the Ministry of Environment, there are 58 unmanaged waste dumps in [...]
Tourism promotions debt runs into millions
Sri Lanka Tourism Promotion Bureau (SLTPB) has run into millions of rupees worth of liabilities that have to be paid off with internal funds as the industry awaits a much – needed promotional drive to kick off the sector’s growth. Sri Lanka Tourism is currently faced with Rs.600 million in unsettled liabilities in addition to [...]
Tuk Tuk hits the spotlight again
Jonny Ward, one of the top 10 bloggers in the world and a well known globe trotter who had travelled to 197 countries in, is currently in Sri Lanka to participate in the “Lanka Challenge 2017: The Tuk Tuk Rally”. This is organised by the Large Minority Travel Group in partnership with Connaissance de Ceylan, [...]
IPM Sri Lanka makes presence felt at APFHRM
IPM Sri Lanka was recently invited to represent the country at the Board Meeting of the Asia Pacific Federation of Human Resource Management (APFHRM) held in Manila, Philippines. APFHRM is the apex professional body for human resources and people management associations in the Asia Pacific region. A team comprising IPM Sri Lanka President Prof. Ajantha [...]
European Union to decide in May on SL’s GSP+ request
A visiting European Union (EU) delegation examining trade union and workers’ views on Sri Lanka’s application for a resumption of GSP+ concessions has raised many concerns focussed on guarantees given by the government earlier and stating firmly that trade benefits should acrue to workers. After more than 10 meetings with workers and unions, the delegation [...]
Minding the gap between rhetoric and reality of microfinance
In the gamut of poverty eradication tools and strategies, microfinance continues to occupy a position of prime importance in terms of longevity and global reach. The methodology developed by famed Bangladeshi economist, Dr. Muhammad Yunus of the Grameen Bank, made grandiose promises of eradicating poverty within a couple of generations. However, the evidence produced by [...]
Northern project to help farmers and fishermen through ILO, Norway assistance
The ILO project on ‘Employment Generation and Livelihoods through Reconciliation’ funded by the Government of Norway was launched in Vavuniya last month amongst a distinguished gathering with the participation of local politicians, key Government officials, donors and the project partners. P. Ayngaranesan, Minister of Agriculture, Agrarian Services, Animal Husbandary, Cooperative Development graced the occasion as [...]
Colombo, undisputed number one choice for work draws competition
It is well known that the Internet increases the efficiency of labour markets by allowing companies to connect with a larger number of professionals faster and at a lower cost. It also enables job seekers to access a vast number of filtered job opportunities within minutes, anytime, anywhere. In 2010, 12 out of 100 people [...]
South Asian Report on Pro-Poor Development launched in Colombo
Market glorification has multiplied people’s misery in South Asia, paving the way for backward and obscurantist forces to grow and the corporate sector to loot the common resources in the region, according to a new report released recently. The report was released when the South Asia Alliance for Poverty Eradication (SAAPE) launched its fifth triennial [...]
SDB bank partners NEDA for SME development
SDB bank (SANASA Development Bank PLC), a pioneering financial institution founded on supporting the grassroots levels of Sri Lanka, recently signed a memorandum of understanding (MOU) with the National Enterprise Development Authority (NEDA) to further extend its support to the micro, small and medium entrepreneurs in Sri Lanka. The MOU primarily aims to encourage and [...]
CEB delays payments for solar power net accounting customers
Sri Lanka’s solar power consumers enrolled in the net accounting system of receiving payment for the power they generated are getting burned not physically but mentally as the Ceylon Electricity Board (CEB) is yet to pay for their energy contributions to the national grid. Although the Ministry of Power and Renewable Energy launched this net [...]
SL Government speeding up procurement procedures
The Government, aware of many issues pertaining to the delay in procurements, is accelerating the process with new instructions to state agencies and local authorities. In an April 4 circular, Treasury Deputy Secretary A.R. Deshapriya has issued additional instructions aimed at speeding up procurement by government departments and other agencies. “To expedite the procurement process, [...]
World class mattresses from Comfort World’s Ambathale factory
Comfort World International, seen as the market leader in mattress manufacture and retail in Sri Lanka, the Maldives and Seychelles, will shortly introduce a new range of mattresses. Comfort World’s American Spring Air range of mattresses have ensured that thousands of Sri Lankans get a good night’s sleep over the past 12 years. The company [...]
J Walter Thompson Group Sri Lanka expands with Fortune launch
Ad agency J. Walter Thompson Group, to reflect the growing importance of Sri Lanka globally, has introduced Fortune, a strategically led consultancy which specialises in insight mining, strategy and brand development. In a media release, CEO of the J. Walter Thompson Group, Sri Lanka, Alyna Haji Omar, said “We are so incredibly excited by Fortune [...]
Chinese tourists spent 12% more in travelling abroad in 2016
With a 12 per cent increase in spending, China continued to lead international outbound tourism, followed by the US, Germany, the UK and France as top five spenders in 2016, according to the UN World Tourism Organisation (UNWTO). “The latest data on outbound tourism spending are very encouraging. Despite the many challenges of recent years, [...]
CCC partners with Hayleys Advantis to nurture talent in logistics sector
The Ceylon Chamber of Commerce has partnered with Hayleys Advantis Ltd to nurture talent in the logistics sector of the country. The two entities got together to launch a programme titled “Inspiring Logistics in Sri Lanka” aimed at building capacity in the logistics sector by bridging the gap between academic qualifications and corporate requirements, according [...]
People’s Bank ATMs transact Rs.21.6 bln during Apr 1-14
People’s Bank’s ATM network recorded transaction volumes amounting to a staggering Rs. 21.6 billion during the recently-concluded Sinhala and Tamil New Year festivity period from April 1 to 14. “This unprecedented number of volumes included over 300 transactions that were executed every minute on average on April 7 throughout over 500 ATMs located all over [...]
PATA annual sessions: Major global tourism meet in Negombo next month
Sri Lanka will play host to the Pacific Asia Travel Association (PATA) annual conference next month converging on issues pertaining to migration, poverty and climate change that have set challenges before the tourism industry globally. PATA, a non-profit Asia-Pacific tourism oganisation will hold its annual event at the Jetwing Blue, Negombo from May 18-21 on [...]
Sri Lanka’s first National Cooperatives Policy due by end 2017
Sri Lanka says it’s enlisting its massive cooperative sector for a speedier realisation of the 2030 national Sustainable Development Goals (SDG) plan. “I stress that we can achieve our national Sustainable Development Goals easily if the government and the cooperative movement works together. Sri Lanka’s cooperatives are active in many sectors, and it can support [...]
Chinese solar firm promotes ‘Aquaponics’ farming in Sri Lanka
With an eye to promoting organic agriculture, U-Tron Maanshan (China) together with its local partner is introducing a new way of farming in Sri Lanka by integrating fish and plant cultivation. U-Tron Maanshan, a subsidiary of U-Tron (Beijing) Electronics Co Ltd which is engaged in installing U-Tron solar home and street light systems countrywide through [...]
Low cost of ending poverty
CHICAGO – Poverty is humanity’s cruelest affliction. If you are extremely poor, you can’t afford to avoid even the easily curable diseases that cause every sixth human death. Your lungs are likely to be filled with indoor air pollution, because, like 2.7 billion others, you cook and keep warm with fuels like dung and wood [...]
CEA Chairman inspects Port City dredging work
A 15-member delegation of senior Government officials including the Chairman of the Central Environment Authority (CEA), went on an inspection tour of Colombo Port City’s sand mining operation recently. CEA Chairman Prof. Lal Mervin Dharmasiri, Senior Additional Secretary to the President Rohana Keerthi Dissanayake, Director, Presidential Taskforce on Environmental Conservation Dr. Upali Indrasiri, Working Director [...]
MTI selected for University of Western Australia forum in Perth
MTI’s Venture Manager / Business Analyst Jananga Piyadasa will represent MTI Consulting at the “Pursue UWA Week” forum to be held in Perth, Australia from May 1 to 6. “Pursue UWA Week” is a forum organised by the University of Western Australia (UWA) to educate and train 30 international representatives of UWA across the globe. [...]
Sierra helps CKD prone communities get clean water
People in two Chronic Kidney Disease (CKD) prone areas in the Anuradhapura and Trincomalee districts can feel safer following the donation by Sierra Construction (Pvt) Ltd of two Reverse Osmosis (RO) plants for the purification of water. This project is one of Sierra’s corporate social responsibility initiatives in response to an official request made by [...]
Platelet Rich Plasma Therapy at Durdans Centre for Orthopaedics
Osteoarthritis, which causes pain and joint stiffness, impacts a significant proportion of the Sri Lankan population and is a leading cause of disability mainly among women. The disease is characterised by degeneration of cartilage and its underlying bone within a joint as well as bone overgrowth. Disease onset is gradual and usually begins after the [...]
Hayleys Plantations wins 20 awards at Forbes and Walker Tea Awards 2016
Sri Lanka’s leading tea producers from the Hayleys Group, Kelani Valley Plantations (KVPL) and Talawakelle Tea Estates PLC (TTEL), secured solid gains at the recently concluded Forbes and Walker Tea Awards 2016. The two companies, which together comprise the plantation arm of the Hayleys Group, won a total of 20 awards in recognition of their [...]
Bank of Ceylon’s new loan scheme to entrepreneurs
Bank of Ceylon (BOC), in response to the Government initiative to generate a million jobs, recently disbursed ‘Swashakthi’ loans through its branch network. The official ceremony of launching ‘Swashakthi’ through BOC branches was held recently. The Central Bank together with the Ministry of National Policies and Economic Affairs has structured this loan scheme with the [...]