Planting a tree
Happy children with the “Katu Anoda”- Soursop plants received at a recent INSEE Cement- Colombo Plan programme in Puttalam/Anuradhapura which celebrates the birth of every child with a gift of a fruit plant in the child’s name.
Over 3.5 m medical records online
Over 3.5 million medical records in more than 40 government hospitals are now online making it easy and efficient for both doctors and patients to diagnose and receive treatment. The Information and Communication Technology Agency of Sri Lanka (ICTA), the apex ICT institution of the Government functioning under the Ministry of Digital Infrastructure and Information [...]
Government’s total public debt sky-high by 71%
Sri Lanka government’s total debt has skyrocketed to unmanageable proportions by an increase of 71 per cent since the current administration came into power in 2015, Finance Ministry statistics showed. The present administration has to borrow money since 2016 to repay the massive loans taken by the previous regime, Treasury accounts revealed. The most significant [...]
Taiwan raises issues on Ceylon Tea
Just as Sri Lanka had eased its problems of residues in tea with Japan, Taiwan has now raised concerns over the maximum residue levels (MRL) found in Ceylon Tea. The glyphosate level recommended by Taiwan had been too high, some industry analysts observed noting that the MRL has not been adjusted with the data following [...]
Elections Commission, Fb working to bar hate speech
The Elections Commission has set up a fast track with Facebook in a bit to monitor and bar harmful messages during the period of the Presidential election. “Facebook will take down – based on their community standards – messages that are harmful during this period,” Prof Rohan Samarajiva told the Business Times. He said that [...]
‘Presidential Poll 2019’ discussion
The Sunday Times Business Club (STBC) has organised a discussion titled “Presidential Election 2019 – Vote Wisely” on Tuesday November 5 at the Hilton Colombo, the club’s new host hotel for 2019/2020. The eminent panel at the event comprises Nalin Abeysekera, member of the Election Commission (EC) and former Legal Draftsman, Rohana Hettiarachchi, Executive Director [...]
Give, give and give…
The die is cast. Postal voting began this Thursday morning and the presidential race is on in what is perceived as one of the closest elections in the country’s political history. Apart from two strong candidates, a third force is emerging with JVP’s Anura Kumara Dissanayake, while in former Army Commander Mahesh Senanayake, the country [...]
Beware of the governments
Today, I thought of ending our discussion series on “the possibility of becoming rich”, as we began on September 29 under the column heading “Impossible possibilities”. We raised the question: “How many more years should we wait for Sri Lanka to become a “rich” country?” In other words the question meant that “how long would [...]
Hoteliers want more control over promotion funds
The hoteliers have proposed for reforms at the Sri Lanka Tourism Promotion Bureau and a transfer of control of promotions fund to the Tourism Joint Council as part of a public private partnership. Sri Lanka Tourist Hotels Association President Sanath Ukwatte addressing hoteliers at the 54th anniversary of the association on October 23 in Colombo [...]
Intersection of policy, technology and law will be the future from now
While technology has become so profound that it makes the world a computer, by 2020 everything will become connected. Intersection of policy, technology and law is what the world needs to look at in the future, says Jasmine Begum, Director Legal, Corporate and Government Affairs, Microsoft ASEAN and New Markets. Ms. Begum made this remark [...]
Eagle Group marks 14 years of logistics excellence
Established in 2005, Eagle Logistics Colombo recently celebrated 14 years of delivering innovative solutions to the shipping and logistics industry in Sri Lanka. The company was established by Managing Director Asanga Weerackody co-partnering with CL Synergy PVT Ltd. Since then, Eagle Logistics has served over 300 corporate entities and it is Mr. Weerackody’s entrepreneurial and [...]
Sunlight brand to bring communities together
A well-known and long-standing corporate entity in Sri Lanka is to wage a gentle battle to eliminate the fear, hatred and distrust that prevailed in the minds of the people after the April 21 Easter Sunday terrorist attack. In a move to strengthen the bonds of friendship in Sri Lanka, Unilever Sri Lanka Ltd (USL) [...]
Cargills to build 50 Food City stores annually from 2020
Cargills Ceylon Ltd established in 1844 during the colonial era which served the elite has now become a household consumer brand name throughout Sri Lanka. Since 36 years ago, the company has taken a sharp, positive turn in consumer marketing. Through its Food City super-market concept that began in 1983 the company sells quality goods [...]
Recent tax developments on residential condominium properties
Legislative changes in the tax arena have been comparatively slow in relation to the other years in the recent past due to the Budget Proposals being presented in March 2019 instead of November 2018. During the last 10 months (until October 23, 2019) Parliament has not enacted any tax legislations effecting taxation other than the [...]
“Public Debt Management Bureau to relieve CB from handling bonds”
With reference to the article titled “Public Debt Management Bureau to relieve CB from handling bonds” published in the Business Times last week, the Central Bank of Sri Lanka (CB) has sent the following response which expands on the role of proposed Public Debt Management Bureau: “The framework for a single debt management agency in [...]
Cinnamon Hotels and Resorts, only Sri Lankan brand nominated for ITTA 2019
Cinnamon Hotels and Resorts was recently shortlisted for the International Travel and Tourism Awards 2019 (ITTA) under the Best Digital Campaign in Tourism category for its innovative Travel Blogger Conference Asia (TBC Asia) – a pioneering digital strategy implemented to enhance Cinnamon’s digital footprint across the global travel market. The awards ceremony will take place [...]
ICTA on the way to release crucial laws
The Information Communication and Technology Agency (ICTA) is close to releasing several laws with regard to important digital infrastructure transformations. With the help of relevant ministries, the ICTA, the apex ICT institution of the Government and functioning under the Ministry of Digital Infrastructure and Information Technology, drafted the Personal Data Protection Law and Cyber Security [...]
LAUGFS Power begins trading at CSE
LAUGFS Power Ltd rang the market opening bell to celebrate the listing of its shares at the Colombo Stock Exchange (CSE) this week. The listing of the company is as a result of a move by LAUGFS Gas PLC to segregate the subsidiaries of the company that are outside the scope of the Liquefied Petroleum [...]
Iranian tea deal at a standstill
Sri Lanka is still working out the draft agreement to be signed with Iran that would enable the country to trade tea for oil but unlikely to ready before the Presidential election. Iran has been subjected to sanctions by the US. The draft agreement had been worked out and sent to the Foreign Ministry and [...]
Professionals call for shifting paradigms of the workplace at the EFC’s Annual Symposium
Creating a sustainable environment for businesses to thrive and an equally stimulating working environment which supports the aspirations of the modern day’s workforce is what many corporates are striving for. In this backdrop, the Employers’ Federation of Ceylon (EFC) will unfold its 8th edition of the annual symposium on the theme, ‘An Agenda for Change’ [...]
Nine public sector institutions excel at CA Sri Lanka’s Annual Reports competition
Nine public sector institutions including universities, ministries, statutory boards, municipal councils and pradeshiya sabhas excelled for their high-quality financial reporting at the third Best Annual Report and Accounts Awards 2019 organised by the Association of Public Finance Accountants of Sri Lanka (APFASL), the public sector wing of CA Sri Lanka. In total, 22 public sector [...]
Lithco awarded with ISO
Lithco Engineering Company which produces locally made machines to various industries has been awarded ISO 9001/2015 status. The award was presented to Lithco Company President Lalith Rohana Perera (see above) by the Director of Urs Certification India (Pvt) Ltd Ankur Sangawa. Lithco which started in 2004 produces machines that are needed in agricultural and poultry [...]
Presidential candidates urged to divulge their policies for private sector employees
Sri Lanka’s 10 million workers in the formal and informal private sectors have so far been out of the radar of three front running presidential candidates as there is no indication whatsoever in their policy statements on seeking support. Of this total number, eight million are in the informal private sector such as the private [...]
Disillusionment as an organisational and national crisis
All around the world, the common man’s perceptions of the structures of power in their respective nations is becoming more and more negative. While some are in a stage of frustration, agitation and even anger at the sociopolitical atmosphere, others are becoming disillusioned. Disillusionment can be described as the sense of disappointment that results when [...]
Online experience for Sri Lankan shoppers
Online shoppers will get an opportunity to participate in the world’s largest online sale for the second occasion when Daraz, a subsidiary of Ali Baba, launches its biggest sales pitch in Sri Lanka on November 11, Managing Director Daraz Sri Lanka, Rakhil Fernando said at a media briefing held at the Hilton Residences in Colombo [...]
MullenLowe launches second agency LoweLintas
Sri Lanka recently launched its sister agency LoweLintas which will now come under the MullenLowe Group – Sri Lanka. Both entities hail from the same bloodline in brand communications – Lintas. Lintas is a global creative powerhouse which counts 120 years in advertising and has been operating under the name Lowe Worldwide since the year [...]
Seylan Bank records post-tax profit of Rs. 2,554 million in 3Q 2019
Seylan Bank closed the nine months ending 30th September 2019 with a post-tax profit of Rs. 2,554 million, a marginal increase of 1 per cent over the corresponding period last year. Growth in advances coupled with the rise in interest rates enabled interest income to grow by 16.77 per cent and interest expenses increased by [...]
LAUGFS Gas ensures uninterrupted supply of LPG to both industrial and domestic consumers
LAUGFS Gas PLC, releasing a statement on the current LPG shortage, on Wednesday assured consumers that the company has been able to secure the required LPG quantity to continue uninterrupted supply of both industrial and domestic cylinders for the next four months. Global LPG supply dropped following the drone attack at the Saudi Aramco oil [...]
MTI in Bhutan, launches project and appoints associate
An international team of MTI Consultants were in the capital Thimphu last week where its first project was launched in Bhutan. MTI also appointed a local Bhutanese associate who will facilitate market development and project management. Earlier in the week the MTI delegation had exploratory meetings with the CEOs of the Bank of Bhutan (BOB), [...]