Call for biz to back social discourse
Business leaders this week slammed Sri Lankan politicians for the crisis facing the country, urged support to new social movements and observed that national interest must override political agendas. Adding a voice to the plethora of concern by business chambers was an organisation representing Katunayake Free Trade Zone investors which called the recent incidents in [...]
No-pay leave for female public officers to have a baby
One-year no pay leave will be granted to female public officers to obtain fertility treatment to have a baby, according to a decision taken by the Cabinet recently. The Ministry of Finance and Economic Affairs has, in a circular informed all state institutions that the rules have been revised to include this benefit for women [...]
“So Sri Lanka” – white elephant in political circus
The country’s newest Rs.1 billion tagline “So Sri Lanka” set to propel the destination as a unique travel hotspot has turned into a white elephant with the campaign coming to a virtual standstill, tourism industry specialists complain. The post-publicity campaign following the launch of Sri Lanka’s latest travel campaign “So Sri Lanka” is currently on [...]
Public enterprises directed to invest only in 8 state banks
In the midst of the current political impasse, the Finance and Economic Affairs Ministry has directed public corporations and state owned companies to confine their investment of surplus funds to only eight state-owned banks with the aim of bringing such funds under the ministry purview. Public enterprises in Sri Lanka are engaged in the provision [...]
Political impasse causes revenue slippage of over Rs.72 bn
Sri Lanka’s prevailing public administrative dysfunction has sent ripples through the country’s economy causing a massive loss of billions of rupees, economic experts observed. According to a recent, independent interim assessment made by a group of economic experts and senior officials as a prelude to the preparation of the Vote on Account, the economic loss [...]
House of Horrors
With the political cum constitutional crisis deadlocked between the country’s two main political entities – the United National Party (and its allies) and the Sri Lanka Freedom Party/Sri Lanka Podujana Peramuna combine, the focus shifts next week to a resolution through the Supreme Court. However, whether a decision by the court on December 7 after [...]
Nose above water
One evening, a few weeks ago, I overheard the answers of a student who appeared for a quiz show in a TV channel. She articulated and elaborated her answers so eloquently that I paid more attention to the show. In the conversation with her, the quizmaster asked an interesting question: “If you become the President [...]
PM wants RPCs alternative solution to wage hike
Prime Minister Mahinda Rajapaksa has asked plantation companies to try and come up with an alternative solution by tomorrow to the current deadlock concerning the wage hike of estate workers. During a meeting held on Thursday, chairmen of Regional Plantation Companies (RPCs), trade unions mainly represented by CWC, Ministers and Secretaries to the Ministries of [...]
Dr. K.A.S. Keeragala appointed Chairman Sri Lanka Insurance
Dr. K.A.S. Keeragala has been appointed as the Executive Chairman of Sri Lanka Insurance with effect from November 29, the institution said on Thursday. Dr. Keeragala is a leading person in the public services and is a Special Grade Officer of the Sri Lanka Administrative Service with over 33 years of experience in the government [...]
Hela Clothing appoints new chairman
Sri Lankan apparel manufacturer, Hela Clothing Group, announced this week that it had secured a capital infusion of Rs. 1.2 billion by way of a mix of shareholder and new Private Equity investment funds from a private consortium whose lead investor has a wide portfolio including private equity investments in the fashion and retail space. [...]
Young Sri Lankans, Indians more informed, more tech-savvy and more connected
India and Sri Lanka have a shared legacy of social, economic, political, intellectual, cultural, religious and linguistic connect while the Governments of both countries have deep engagements and friendly relations. Thus, noted Prof. Dr. Mallika Kumar, Head of International Affairs and Commerce Department from the University of Delhi speaking at a recent event in Colombo, [...]
Cyberspace: The next frontier for Sri Lanka Signal Corps
The Sri Lanka Army rolled out its big guns this week at its Cyber Security Symposium and Exhibition at the BMICH. Among the multi-barrelled rocket launchers and advanced artillery weapons on show was also a bicycle built for one – using a grass-cutting motor engine – which could be folded into three and stored in [...]
New smaller coins into circulation
A new series of smaller circulation coins released by the Central Bank (CB) will be issued to the public, on December 3 after a presentation box was given to Prime Minister and Minister of Finance Mahinda Rajapaksa on November 27. The Rs.10 and Rs. 5 coins have been made thinner and the Rs. 2 coin [...]
Hemaka’s story: Life and times of another top corporate giant
Hot on the heels of the story of corporate leader – Ken Balendra, released late last year, the Hemaka Amarasuriya’s biography titled “Riding the Zeitgeist” takes the reader through the passages of time as each page unravels another time, space and era. Written by media personality Savithri Rodrio, who also wrote Mr. Balendra’s biography on [...]
Ways of staying ahead of cybercriminals
Dhanya Thakkar, Vice President Asia Pacific, Middle East and Africa (AMEA), Trend Micro, recently attended the 11th Annual Cybersecurity Conference in Sri Lanka organised by the Sri Lanka Computer Emergency Readiness Team (SLCERT). He addressed the event as a keynote speaker and a panelist. Here are excerpts of his presentation: “In late October, more than [...]
Digital share broking accounts in the works
The Colombo stock market is gearing to introduce an end-to-end digital Central Depository System (CDS) account opening process by leveraging on technology in a bid to broadbase the local investor base. Chairman Colombo Stock Exchange (CSE), Ray Abeywardena said this will go a long way in making the market accessible around the country which is [...]
Gallant Speaker says he defied the odds for the sake of democracy
A gallant Speaker of Sri Lanka’s Parliament declared this week that he stood for democracy against all forms of threats to save it for the generations unborn. Karu Jayasuriya, Speaker of Parliament of Sri Lanka, was speaking as Chief Guest at the ‘Best Corporate Citizen Sustainability Awards 2018 organised by the Ceylon Chamber of Commerce [...]
ComBank POS power for retail outlets at Colombo City Centre
Retail outlets at Colombo City Centre, Sri Lanka’s newest shopping mall, have been powered by Point-of-Sale (POS) machines supplied by Commercial Bank of Ceylon. Nearly 50 POS machines have already been installed at tenant stores including DSI Footwear, Food Studio, Abans, Abans Elite, McDonald’s, Living Colours, Abans Apple 1, and Nature’s Beauty Creation Ltd, the [...]
British film location managers scout for scenic spots
Reputed British film location experts including the location manager for the famous television series Game of Thrones recently visited Sri Lanka looking for the most scenic places for their next ventures. The 8-member British team was part of lucrative location familiarisation tour of Sri Lanka organized and hosted by the Sri Lanka Tourism Promotion Bureau [...]
Boards at tourism state bodies established
Sri Lanka Tourism has established its boards this week with the key appointments being filled by ministry officials. Tourism Ministry Secretary S. Hetttiarachchi is currently appointed as the Acting Chairman of the Sri Lanka Tourism Promotion Bureau (SLTPB). Tourism Ministry Additional Secretary Waruna Samaradivakara has been appointed as the Acting Chairman of the Sri Lanka [...]
All licensed financial institutions to expedite debt recovery
In a sudden move by the new Finance Minister, Sri Lanka’s licensed banks and financial institutions have been brought under the Debt Recovery (Special Provisions) Act No.2 of 1990 with the aim of improving debt recovery and financial system stability. While the Act originally covers only the lending institutions which existed at the time of [...]
Venture Engine’s Impact Award opened many doors – IgniterSpace founder
Sri Lanka’s pioneering entrepreneurship programme Venture Engine has, to date, assisted hundreds of Sri Lankan start-ups in fine-tuning and accelerating their entrepreneurial efforts. Submissions for the seventh consecutive Venture Engine are currently being accepted via www.ventureengine.lk until December 10. Recently, one of these start-ups, IgniterSpace, a top fundable company at Venture Engine 2017, and that [...]
Crystal Sands to sparkle the South Coast
Lonely Planet has just rated Sri Lanka as its number one travel destination in 2019. The latest industry statistics also seem encouraging for the country, what with the Sri Lanka Tourist Board in May saying that the country recorded a 15 per cent growth in tourism compared to last year for the January to May [...]
Plans underway to grow milk production in Sri Lanka
Although there are around 250,000 – 300,000 farmers engaged in milk production in the country, they do not have a market place to sell their produce. “However we have found a market for those 15,000 farmers who work with us to sell their milk produce to us,” said the Chief Operating Officer of Cargills Quality [...]
SLPA MD completes tenure, replaced
Sri Lanka Ports Authority (SLPA) Managing Director Sarath Premachandra has stepped down on completion of his term of office of three years. An appointment made under former Minister Arjuna Ranatunga, Mr. Premachandra held the position for a period of three years breaking the usual practice of assigning a senior official from the authority itself. Mr. [...]