CSE: A gamblers’ paradise
The Colombo Stock Exchange (CSE) is fast seen becoming a ‘gambling joint’. High-profile traders with a lot of cash in hand and no place to park it are ‘playing’ the market, at the risk of denting the good sentiment in the CSE, stock market analysts observe. It is important for retailers to be educated and [...]
Factories face tough times in 2021
Companies in the investment zones are facing severe stress as a result of the pandemic that has resulted in increased expenses on testing for COVID-19, a tight order situation and staff turnout dropping by 25 per cent. Factories are operating as usual but with a less number of staff due to certain reasons since some [...]
Global businessman Rothschild on business/pleasure trip
Nathaniel Rothschild, a globally renowned financier and a member of the Rothschild family, is in Sri Lanka on a business cum pleasure trip, his maiden visit to the country. Over the past few days, before visiting places of cultural interest after Friday, Mr. Rothschild has been meeting political figures including President Gotabaya Rajapaksa and UNP [...]
Sri Lanka tourism looks to the skies for hope
Hotels are clinging onto their last ray of hope – the reopening of the airport to commercial flights – as their only form of business from locals is also hampered as a result of border health checks. Authorities have stated that the Sri Lankan skies will open to commercial flights officially from January 23 allowing [...]
Firms rationalising biz, laying off staff
More and more companies rationalising their operations in these challenging times are gearing to grant Voluntary Resignation Schemes (VRS) to staff with an idea to encourage those willing to leave to do so on their own accord. With sales dropping due to COVID-19 and the resultant downturn in the economy the managements are trying to [...]
ECT struggle to intensify
Port workers are likely to intensify their struggle this week through the combined efforts of other trade unions in a bid to ensure authorities will disengage from any agreement with India to run the East Container Terminal (ECT). Following an unsuccessful round of discussions on Wednesday between President Gotabaya Rajapakse and representatives of the 23 [...]
Stormy ports
So, the stormy East Container Terminal (ECT) issue at the Colombo Port has been settled. Or has it? President Gotabaya Rajapaksa, at a meeting with several protesting trade unions, earlier this week reiterated the government position that 51 per cent of the terminal will be held by the Sri Lanka Ports Authority (SLPA) and neither [...]
Buy it in Singapore
Asitha had a technical problem with the display of his laptop computer. As he is from Maharagama, he knew that he must take it to a place like Liberty Plaza or Unity Plaza in Colombo for repairs. If he was from outside the Western Province, then the repair work may not be as easy as [...]
Challenging times for children during COVID-19
The stress and the impact of COVID-19 is not only on the children but also on the parents (particularly working parents) who are faced with the additional burden of providing home schooling. There are also concerns that the children are not able to play, and while interaction with school friends and teachers is an essential [...]
UDA reviews expert submissions on Planning and Development regulations
The Urban Development Authority (UDA) is reviewing the submissions including suggestions and shortcomings made by experts on the amended Planning and Development regulations about to be gazetted by the UDA shortly. The UDA says it hopes to amend the 34 year-old existing Building and Planning regulations for high-rise apartment projects countrywide. A UDA official said [...]
Myths and facts of coconut oil and palm oil
In the recent past a number of articles were published relating to the pros and cons of coconut oil and palm oil. I think it is prudent to enlighten the populace of our nation about the biochemical analysis and the metabolism of the duo in the human body for them to make a reasonable decision [...]
Nearly Rs.30 bn concessionary financing provided by ComBank in 2020
The Commercial Bank of Ceylon provided new concessionary lending of nearly Rs. 30 billion in 2020, its centenary year, to help Sri Lankans weather the impacts of the COVID-19 pandemic. This high volume of concessionary loans was in addition to the relief the bank granted to customers in the form of debt, capital or interest [...]
Berendina serves struggling rural and plantation communities during COVID-19
Berendina, an NGO focusing on poverty alleviation since 1987, has been serving more than 83,000 people organised into clusters in 11 districts at the time of the COVID-19 outbreak. The majority of their clients were either self-employed small producers or daily-waged workers, who have lost their income completely due to the situation of lockdown and/or [...]
‘Don’t tamper with EPF Act’, says union
The Ceylon Federation of Labour (CLF) has repeated an earlier request that the government should not tamper with the EPF Act to bring about the proposed increase in the retirement age of the employed. “This is best achieved by enacting a separate Act mandating all sectors of employment,” it said in a communication to the [...]
Renovated CBD Business Centre in Fort ready for new tenants
Another office block has opened in Fort, the central business district in Sri Lanka, with, this time, the CBD Business Centre, set to welcome new tenants at the start of the new year following an extensive Rs. 609 million renovation by its owner Cargo Boat Development Company PLC (CBD). The iconic 38-year-old building, is now [...]
Bitter truth of Hingurana Sugar factory revival
The revival of the Hingurana Sugar factory under Sri Lanka‘s first private partnership initiated during President Mahinda Rajapaksa’s regime in 2007 ending a 15 year closure has now been turned around to a profitable joint venture with efficient management, Sugarcane farming has become the economic mainstay of villagers at present after a long time reawakening [...]
A new tyre factory, mainly for exports, opens in Sri Lanka
Sri Lanka’s largest manufacturing facility for tyres and radials, Ferentino Tyre Corporation (Pvt) Ltd, was declared open by President Gotabaya Rajapaksa this week. The Minister of Industries Wimal Weerawansa, Minister of Ports and Shipping Rohitha Abeygunwardena and several other ministers participated at the event. The facility constructed with an investment of US$250 million is the [...]
BOC awaits $70 m second tranche of Chinese Bank facility
State-owned Bank of Ceylon (BOC) is in the process of negotiating for millions of dollars worth of further facilities with multilateral institutions while waiting to receive the US$70 million as the second tranche of a loan facility from a leading Chinese bank, a top official of the bank said. The funds will mainly be utilised [...]
Role of Roboticists during COVID-19
The current COVID-19 pandemic situation makes the whole world face unexpected challenges in moving forward in every aspect. COVID-19 has changed the world in all aspects of its life. It is the same for all the industries as well. Many industries are facing new challenges providing an opportunity to industrialists and researchers to initiate innovative [...]