New population count in 2021
While Sri Lankans are preparing for polls this year and in mid-2020, the Department of Census and Statistics (DCS) is preparing for another, island-wide exercise: Counting the population. The DCS is to conduct its next population and housing census in 2021 which would cost Rs.3.2 billion, according to DCS Director General Indu R. Bandara. The [...]
Sri Lanka’s provincial administration on the brink of collapse
Sri Lanka’s provincial administration is on the brink of collapse as there is no legal authority for the currently dysfunctional Provincial Councils to collect revenue and make legitimate payments, official sources said. Provincial Councils receive revenue from levying taxes, grants by the Government, loans advanced from the Consolidated Fund, and other receipts. Fund raising provisions [...]
John claims corruption sweep at tourism agencies
The government with the intervention of the private sector has made an alleged clean sweep of corruption at the state tourism agencies sans inquiries. Tourism Development Minister John Amaratunga told the Business Times that the second level staffs have been reshuffled over “allegations of corruption and inefficiency and undue delays in discharging of their duties.” [...]
Dialog files action against TRC
The country’s largest mobile operator, Dialog Axiata PLC has filed action in courts against the Telecommunications Regulatory Commission (TRC) over propagating unfair practices in giving out certain spectrums. They allege that a 1800 4G band used mainly for broadband services to provide Internet which is a much sought after spectrum telecommunication frequency had been allocated [...]
SLT to strengthen state shareholding
Sri Lanka Telecom (SLT) is to strengthen state shareholding by issuing shares through a private placement to state-owned businesses and Contribution Funds. The aim is to fulfill 10 per cent minimum limit of the public float imposed by the Colombo Stock Exchange, SLT sources said. Employees Provident Fund, Sri Lanka Insurance Corporation Ltd and National [...]
Chaos …
Though it was a bright and sunny morning, the mood was anything but bright. “Balannako akki, traffic hinda hungak parakkuwuna (See Sister, because of the traffic, I am very late),” grumbled Mabel Rasthiyadu. She was complaining because it had taken several hours to get to a friend’s place off the Galle Road. “Aei, mokakde wune [...]
Blurred vision
Iceland’s most active volcano erupted on May 21, 2011. The next day on May 22, Iceland had to close down its international and domestic airports, because the air space was a blackout with ash clouds fumes from the volcano. Ash clouds began to spread across Europe, and covered the skies so that during May 22-25, [...]
Government to broad-base state land ownership facilitating investors
Sri Lanka government is reviewing existing laws on state-owned lands in the extent of 82 per cent of available land to broad-base ownership Necessary amendments are being made following consolidations with relevant parties to Land Grants (Special Provisions) bill which had to be withdrawn from Parliament order books on August 21. The new bill aimed [...]
NDB celebrates 40th anniversary on grand scale with 2700 staff
NDB Bank recently celebrated its 40th Anniversary, with all 2700 staff members of NDB Bank and its subsidiaries of the NDB Group at the CR&FC grounds, Colombo with Chief Guests NDB Chairman Kavan Ratnayake and Director/Group CEO Dimantha Seneviratne. This was the first time the entirety of the NDB Group staff members rallied at one [...]
BoardPAC provides supporting solution for EY’s World Entrepreneur Of The Year programme
BoardPAC yet again reached another milestone by signing a contract with Ernst & Young (EY) as its technology supporting solutions provider, for the board meeting automation solution at its World Entrepreneur Of The Year (WEOY) programme held recently in Monaco covering 47 countries across the globe. The Entrepreneur Of The Year (EOY) programme was held [...]
Industry experts urge shift in policy focus at condominium seminar
Land scarcity, increasing land prices, and high population density are all decisive factors arguing for condominiums as the solution to Colombo’s growing housing problem. In a speech at the ‘Future of Condominium Living in Sri Lanka’ seminar held last week in Colombo, Nayana Mawilmada, Sector Head of John Keells Properties agreed. Organised by the Chamber [...]
Controller of Exchange deals firmly against forex racketeers
Sri Lankan foreign exchange racketeers are rampant and find any loopholes in the Exchange Control regulations to overcome their problems. The related authorities of the Exchange Controller unit at the Central Bank have been successful in preventing the colossal loss of foreign exchange by the acts of our Sri Lankan community scattered all over the [...]
PickMe’s Vindula Jayawardena wins a scholarship to MIT
Vindula Jayawardena, a member of the research unit at PickMe and who graduated from the University of Moratuwa recently, has received a scholarship offer from the US-based Massachusetts Institute of Technology (MIT) to pursue his PhD. Mr. Jayawardena is involved in research on issues surrounding the mobility sphere. He works on developing new algorithms to [...]
Mobitel launches ‘Master Unlimited Data’
Mobitel has launched ‘Master Unlimited Data’, yet another industry first devised to meet the demands of data-hungry enthusiasts by providing unlimited mobile data to explore and enjoy the world at their fingertips, the mobile operator said on Monday. “This revolutionary package from Mobitel ‘Master’ (unlimited voice) now trail-blazes with Unlimited mobile Data, enabling Mobitel postpaid [...]
Expansion of expressways to ease traffic congestion this year
Sri Lanka is continuing construction work of a 200 km expressway network and road development activities countrywide at a cost of Rs.225 billion in a bid to ease traffic congestion and improve road safety. Of this, the construction work of 105 km of expressways will be completed this year, Chairman of Road Development Authority Eng. [...]
National honours for Dilmah Founder
Dilmah Founder, Merrill J. Fernando was bestowed with the “Deshamanya” title at the recent National Honours Ceremony presided by President Maithripala Sirisena. The ‘Deshamanya’ (Pride of the Nation) title is one of Sri Lanka’s top 2 National Honours, was awarded for exceptional and highly meritorious services to the country. While Mr. Fernando was honoured for [...]
BOC to help grow 100-hectare forest in Galoya
The Bank of Ceylon (BOC), as part of assisting the improving forest cover up to 32 per cent in Sri Lanka by 2020, has formulated a project to reforest 100 hectares in the Galoya Forest Reserve in a stretch close to the Habarana Colombo-Trincomalee main road. For this purpose, the bank has signed a MoU [...]
“Laksala shops violate AR & FR”
Sri Lanka Handicrafts Board (Laksala) Chairman M. Hamza has sent the following letter with reference to our report last week headlined “Laksala shops violate AR & FR” which it says contained inaccuracies. Laksala’s response and the Business Times response is given below: A) Business Times (BT) report: “Sri Lanka Handicrafts Board is offering up to [...]
Refurbished Japan’s Air Force One on sale
The Japanese Air Force One aircraft is set to sail on higher clouds for a price to match its latest furnishings on par with the luxuries of similar aircraft of West Asian leaders and the US President. The aircraft, a Boeing certified 747-400 has just 16,000 flying hours and is considered a good investment as [...]
Infrastructure alone won’t lead to economic development
Though there is enough connectivity – the roads and other infrastructure in some areas across Sri Lanka – this alone won’t lead to economic development. Prof. Sirimal Abeyratne, Prof in Economics, Colombo University – one of the well-known economists in the country, in answer to a query made by an official of the Road Development [...]
2.6% decline in Colombo Port performance in July: East Container Terminal on hold
While the global maritime sector is grappling with many challenges due to the impact of the US-China trade war, Brexit and the Russian sanctions, trends in the global trade environment container volumes are seen as achieving positive growth this year. However the performance of the Colombo port has declined in the past two months, according [...]
SLI recognised for performance excellence at National Quality Awards
Sri Lanka Insurance has received a commendation certificate under the Large Scale Service category for performance excellence at the National Quality Awards 2019. The awarding ceremony was held on August 21 at the Nelum Pokuna Mahinda Rajapaksa Theatre in the presence of President Maithripala Sirisena. The Sri Lanka National Quality Award is an annual award [...]
Shermal, new COO of CIC Holdings
Shermal Fernando has been appointed as Chief Operating Officer (COO) of CIC Holdings PLC with effect from September 1. First appointed to the Board of Directors of CIC Holdings PLC in November 2005, Mr. Fernandol held the position of Group Finance Director / Company Secretary until he left for overseas in November 2010. He re-joined [...]
Rhino Group launches strategy towards sustainable development
The Rhino Group recently launched its long-term strategy towards achieving their Sustainable Development Goals to highlight their commitment towards sustainable development and mitigating the climate change impact. “As a widely respected socially responsible organisation, Rhino has always considered sustainability as something well woven within their DNA. Throughout the last five decades, Rhino has placed paramount [...]
Disrupt Asia 2019 to focus on start-ups in Bengal Bay
Where information and communication technology (ICT) is concerned it is important to think beyond what is happening in the country and expand it to other markets in the Southeast Asia region. ”We want people involved in start-ups in Sri Lanka to take it further to countries such as in the Bengal Bay region,” said the [...]
Tea Master Cup promotes tea experience
Sri Lanka will be conducting the Tea Master Cup on September 17 in a bid to select the best to compete for the World Cup in China. Young tea sommeliers are initially trained by the Sri Lanka Tea Board (SLTB) in tea pairing and mixing and are working together with the Sri Lanka Institute of [...]
Chennai traffic for Palaly, says DGCA
The Palaly Airport scheduled to be commissioned for international operations and declared open on October 15 is likely to receive flights in future from Chennai. A controversial issue that centered on flights coming into the Northern airport was the fact that there would be no connection between Tamil Nadu and Jaffna, which is a key [...]
AmCham urges Sri Lanka to consider MCC grant
The American Chamber of Commerce in Sri Lanka (AmCham) has urged the Government of Sri Lanka to consider approving the Millennium Challenge Corporation (MCC) Compact. This US$480 million grant focuses on two key constraints to Sri Lanka’s economic growth identified by Harvard University’s Centre for International Development: weak transport infrastructure and weak land administration practices. [...]
Less talk more work – The LTL experience
Actions show what someone is and words show what someone wants to be, according to a popular saying. This is true (as we witness time and again) of most politicians in Sri Lanka who tend to treat conversation like a competitive sport, where the one who says the most, makes the cleverest point, influences others [...]
edotco strengthens presence in Sri Lanka with new leadership
edotco Group Sdn Bhd, an integrated telecommunications infrastructure services provider, has announced the appointment of Darryll Sinnappa as the new Country Managing Director of edotco Sri Lanka. Under this new leadership, edotco is set to reinforce its commitment and grow its presence in Sri Lanka through the provision of innovative next generation telecommunication solutions, the [...]
JVP leaders interested guests at FACETS 2019 exhibition
Top leaders of the Janatha Vimukthi Peramuna (JVP) were surprise guests at FACETS 2019 – the International Gem and Jewellery Show, the country’s premier gem and jewellery show held last week at the BMICH, Colombo. JVP Leader Anura Kumara Dissanayake and its Propaganda Secretary Wijitha Herath stayed at the venue for nearly three hours and [...]
Proposed new CSE Listing Rules aim to cover broader base of corporates, improve IPO process
The Colombo Stock Exchange (CSE), in consultation with the Securities and Exchange Commission of Sri Lanka (SEC), is proposing to revise the regulatory framework governing the initial listing of shares on the CSE. The exercise is aimed at broadening the CSE Listing Rules to complement Sri Lanka’s rapidly developing commercial landscape comprising multiple new business [...]