Cruise liners with over 7000 tourists
Three cruise liners with over 7000 passengers visited Sri Lanka last month. Throughout 2018, Sri Lanka saw the arrival of 53 cruise liners, which in addition, helped to increase the number of tourist arrivals. Picture (courtesy Sri Lankan Tourism) shows a tourist couple from a cruise liner enjoying a tuk-tuk ride.
Treasury tightens government expenditure
Sri Lanka’s Treasury is tightening government spending while anticipating an increase in the final quarter revenue collection as the country is facing a cash flow problem following the 52-day political impasse triggered by President Maithripala Sirisena. According to recent provisional assessment, the economic loss and financial slippage caused to the country during this period has [...]
JKH’s foreign holdings thinning fast
Foreign ownership of blue-chip, John Keells Holdings (JKH) is fast ebbing with analysts noting that this year has seen the most outflows from the stock. As at December 19, JKH saw its foreign ownership drop to 49.5 per cent or 686,956,411 shares down from 57.9 per cent as at June 30. On November 7 trades [...]
Taxi meters in Jaffna
JAFFNA -Taxi meters are to be made compulsory for three wheelers and car taxis in Jaffna from January 1, Jaffna Divisional Secretary N. Vethanayagan has ordered. Legal action will be taken against the three wheelers and car taxis running without meters, he has said. Charges have also been fixed after a discussion with the three [...]
Bumper New Year for Sri Lanka tourism
Sri Lanka’s tourism industry is expecting a bumper New Year with the country promotions set to get underway and the ones that took off this year set to create a hype despite a dreary start to the winter season. Sri Lanka Tourist Hotels Association of Sri Lanka (THASL) President Sanath Ukwatte said that 2019 is [...]
Glyphosate back: Plantations would take 10 yrs to recover
One bad decision has impacted an entire tea industry’s future that experts opine could take nearly a decade to overcome the over-growth of weeds on Sri Lankan plantations. Weedicide, Glyphosate that was banned in the country for the past three years, has been brought back following the lifting of the ban in May this year [...]
Migration trail
One of the first web comments from a migrant worker after Sri Lanka’s new Cabinet was sworn in on Thursday was: “The Sri Lanka Government that has been appointed has to do more to protect and uphold holiday and vacation rights of its migrant workers toiling in West Asia.” This comment was further endorsed on [...]
China after 40 years
On Tuesday, China celebrated its 40 years of what was called to be the “reform and opening” of the economy. At that time, it was a poverty-stricken economy isolated from the rest of the world – in fact, from the capitalist world. After the demise of China’s communist leader Mao Zedong in 1976, who had [...]
Retail market stabilising slowly, says Takas.lk CEO
After many challenges the retail market has been facing in Sri Lanka since August this year, the industry is stabilising slowly, says Takas.lk CEO Lahiru Pathmalal. He said this while speaking to the Business Times on the sidelines of the launch of Takas.lk’s flagship store in Bambalapitiya on Wednesday. Last month at the Sunday Times [...]
Jafferjee Bros and JLanka set up remarkable solar project
Sri Lanka’s leader in next generation energy technologies and solar PV systems, JLanka Technologies continues to disrupt the country’s conventional energy industry – in this case taking on a journey alongside one of Sri Lanka’s leading business conglomerates, the Jafferjee Brothers. In this global village of a rapidly developing world, Jafferjee Brothers turned to the [...]
Infinity and beyond with Balmond and Cinnamon Life
COLOMBO – Cecil Balmond has borrowed my pen. I’m watching the master at work, bent over my reporter’s notebook, as he sketches the initial drawing which was the blueprint for the ‘iconic’ Cinnamon Life landmark which is set to transform Colombo by 2020. In a previous story I had written on this project for this [...]
Market-oriented dairy project facilitates unique commercial business model
With its primary objective to strengthen and grow the country’s dairy sector, the Market-Oriented Dairy (MOD) Project has announced the signing of a buyer-seller agreement between Lanka Forages Pvt Ltd and fodder cultivators in the northern region recently. Considered the first of its kind in the northern region, the project will facilitate several other such [...]
AGC Lanka, Everthought Australia introduce Aussie trade skills
AGC Lanka and Everthought Australia this week announced the launch of Australian curriculum-based trade skills learning programmes that are aimed to provide colossal economic opportunities and innovative career paths in the skilled trades. The announcement was made at a recent event which took place at the AGC Lanka office in Colpetty. The event was addressed [...]
Lanka’s tea industry reaches boiling point
Tea traders are up in arms against what they call a bad decision on the part of the President that has led to a drop in exports and a total ban on Ceylon Tea to Japan since last year. Ceylon Tea Traders Association (CTTA) President Anslem Perera addressing the Ceylon Planters’ Society as Chief Guest [...]
Sri Lanka takes giant leap in mechanising agriculture
Mechanisation is a crucial input for agricultural crop production and one that has historically been neglected in the context of developing countries. DIMO has been in the forefront in introducing modern agricultural equipment to Sri Lanka to facilitate farm mechanisation, and recently, the company enabled a giant leap in mechanisation of agriculture in Sri Lanka [...]
US, fast growing tea consumption market-Forbes report
Sri Lankan tea production in 2019, consequent to the Government’s decision to lift the ban on the use of glyphosate (weedicide) would provide much relief to producers and in particular large-scale plantations which would be able to carryout the required agricultural practices to achieve the full potential of the plantations, says broker Forbes and Walker [...]
CDB successfully issues Sukuk Ijarah Securitisation
Citizens Development Business Finance PLC (CDB), continuing its legacy of pioneering initiatives for the financial services industry, conducted a highly successful Sukuk Ijarah Securitisation, the first in its history. The Sukuk issue with an initial tranche of Rs. 300 million over a three year plan of US$1.75 million from the domestic market in asset backed [...]
Collaborator Network enters Cross-Media Marketing industry
Concluding the quarter on a high note, the Collaborator Network, Sri Lanka’s first social media influencer community, has announced plans to enter the Cross-Media Marketing industry backed by significant partnerships with a number of local and foreign businesses operating in parallel industries. In a year of rapid growth, the Collaborator Network, a strategic business unit [...]
SLIC successfully concluded ‘Call to Donate’ CSR initiative
The ‘Call to Donate’ a CSR initiative by Sri Lanka Insurance (SLIC) concluded recently with immense success getting more than 480,000 missed calls from generous Sri Lankans. SLIC launched the ‘Call to Donate’ campaign on November 1 as the third phase of this annual initiative. The campaign was launched in aid of raising awareness about [...]
Hayleys Advantis unveils Sri Lanka’s largest distribution hub
Hayleys Advantis Ltd recently ceremonially unveiled Sri Lanka’s largest distribution hub – Advantis 3PL Plus Logistics City – in Kotugoda, Ja-ela. This is part of the company’s strategic capacity building and expansion efforts aimed at serving its clients better through greater efficiencies and economies of scale. “The move bodes well for the nation’s vision of [...]
edotco installs first smart lamp post in Jaffna
edotco Sri Lanka, an integrated telecommunications infrastructure services company, recently installed the first-ever smart lamp post in Jaffna Municipality, bringing the latest innovations to the Northern Province of Sri Lanka. Setting up the first of 17 such energy efficient telecom solutions, the unveiling ceremony was graced by the Mayor of Jaffna Immanuel Arnold and senior [...]
Colombo’s Condominium Conundrum
As Colombo’s condominium market evolves, new dilemmas emerge. Colombo’s condominium market has reached an inflection point. In 2010, fueled by prospects of future demand for high rise living, developers scrambled to invest in real estate on an unprecedented scale. Today, the initial exuberance has dried and the infant stage has passed whilst the market awaits [...]
SO Underperforming, SO Sri Lanka
As Sri Lanka ends the year reeling from the most shameful political fiasco in its post-colonial history, we have shown yet again that we are much more capable of harming ourselves than any external force our politicians constantly blame. Unfortunately, this is the same with the tourism industry. While the whole world is trying to [...]
Stability is now “So Sri Lanka” chimes industry
The tourism industry heaved a sigh of relief ever since political stability returned to Sri Lanka this week and it is now believed that the adverse travel advisories would be softened and expected earnings will top close to US$3.5 billion and arrivals will be 2.2 million by the end of 2018. “Things are looking good [...]
Living together after tying the knot in Sri Lanka, 40 years ago
Celebrating a promise of 40 years is what Alain and Manuela De Sauvage from Belgium was about during this Christmas holidays –having first tied the knot in Sri Lanka back in 1978. Their union has not just given them the chance to keep coming back 31 times over the past four decades but also increased [...]
Hayleys Advantis to launch e-commerce platform
The logistics arm of Hayleys PLC, Hayleys Advantis PLC is gearing to launch an e-commerce platform next year, officials said. “We are eyeing to set up an e-commerce platform for online purchases. We are looking at creating a marketplace for customers to purchase products and carry out door-to-door delivery,” Ruwan Waidyaratne, Managing Director Hayleys Advantis [...]
Leapfrog invests in life insurer, Softlogic Life
LeapFrog Investments, a UK-based investor, this week announced a US$$12 million investment in Softlogic Life Insurance PLC, purchasing the shares of FMO, the Dutch development Bank. In a media release LeapFrog said Softlogic Life is one of Sri Lanka’s fastest growing life insurers, providing Sri Lankans with individual life and health, group life, and other [...]
Hayleys Energy Services begins Sri Lanka’s First Oil & Gas Drillship Lay-Up at Hambantota Port
Hayleys Energy Services (HES), the pioneer in Oil and Gas support services in Sri Lanka, recently announced the arrival of the oil and gas drillship “Aban Abraham” for a warm lay-up to the Hambantota Port. Aban Offshore Ltd, the company that owns the vessel, is India’s largest offshore drilling services provider to oil companies, providing [...]
Lanka Graphite industry links up with Australian consumer electronics retailer
Sri Lanka’s graphite and graphene industry will be transformed to a money spinner with the revitalising of mineral exploration of Lanka Graphite Ltd through an Australian incorporated company. This Australian-based Graphite Exploration Company is focused on exploring high purity vein graphite in Sri Lanka. The company currently holds seven exploration licences and one exploration licence [...]
SLT achieves ISO certifications for its information, security and business continuity management systems
Sri Lanka Telecom (SLT), the leading ICT solutions provider and the leading broadband and backbone infrastructure services provider, has announced achieving two certifications from the world renowned certification body, Bureau Veritas. The company achieved the ISO / IEC 27001:2013 certification for its Information Security Management System and the ISO 22301:2012 certification for its business continuity [...]