Fuel sale process at Puttalam
Fuel stations have begun selling fuel according to the last digit of a vehicle under a new scheme. Here is a queue at Puttalam. Pic by Hiran Priyankara Jayasinghe
India’s geopolitical concerns over Port City Colombo
India’s concerns over the Colombo Port City Project discouraging its business community from investing here is likely due to geopolitical issues and a lack of awareness of the regulations that are still being finalised, Sri Lankan authorities state. A recent report in the Indian media said there are concerns expressed over the Colombo Port City [...]
Litro to announce new empty cylinder tender
After procuring 100,000 metric tonnes (MT) of LP gas at a high price of US$129 per MT by rejecting the lowest bid of $96 in the tender for 280,000 MT, Litro Gas Lanka Ltd is now planning to procure empty cylinders in small quantities cancelling the previous tender for 735,540 such cylinders floated early this [...]
SL firms brace for tough long overhaul
Sri Lankan businesses are bracing for a record number of failed businesses, shrinking margins and job losses amidst the economy contracting by 6 per cent. Mahendra Jayasekara Managing Director Lanka Tiles told the Business Times that the company has witnessed a clear reduction in customer footfall. “It has fallen drastically by nearly 60 per cent. [...]
Interim Budget next month
The stage is set next month to present the interim budget 2022 of the present administration headed by President Ranil Wickremasinghe in parliament as the initial step of resetting the governing system, Finance Ministry sources confirmed. The Legal Draftsman is now drafting an amendment bill to the Appropriation Act 2022 using the inputs of the [...]
Heathrow airport row hits SLA flts
SriLankan Airlines has been compelled to cancel a few flights to London’s Heathrow airport in the wake of a labour shortage there. Two flights from Colombo to London and two flights – London to Colombo have been cancelled since the last three weeks, SriLankan Airlines Corporate Communications Manager Deepal Perera told the Business Times. The [...]
Govt. wants food security plan for Sri Lanka
The government is considering drawing up a food security plan for Sri Lanka as the country tries to overcome a national food crisis. President Ranil Wickremesinghe during his tenure as Prime Minister had raised the need for a food security plan, Peradeniya University Senior Prof. Buddhi Marambe told the Business Times. He pointed out that [...]
Find dollars, fast
As the dust has settled on the presidential race with veteran parliamentarian Ranil Wickremesinghe, who has served a record number of times as prime minister, triumphing at the presidential vote in Parliament, the scene now shifts to resolving the worst economic crisis on record. Sri Lankans are suffering in queues for fuel, cooking gas and [...]
Global recession deepens
With much speculation of a global recession, should we expect more impediments to expected foreign exchange inflows to Sri Lanka and further delays in the country’s recovery from the economic crisis? It was a timely issue that was raised at a webinar by PricewaterhouseCoopers Academy where I had to deliver a speech a few weeks [...]
Fuel Procurement Plan reactivates to streamline petroleum imports
The new administration headed by President Ranil Wickremesinghe is ready to reactivate the regular fuel procurement plan which was abandoned last year and introduce a fuel information management system along with the national fuel pass with QR code with effect from tomorrow, Energy Ministry sources disclosed. This is aimed at providing fuel to the people [...]
Ceylinco Life receives 70,000 creative art entries from Sri Lankan children
Ceylinco Life has received 70,000 entries for its ‘Sihina Sithuwam’ country-wide children’s art and essay competition, in the form of inspirational words, colourful brushstrokes and pencil shadings that reflects the dreams of children. Each drawing and essay was submitted under the theme ‘Your dream when you grow up’ via the exclusive ‘Sihina Sithuwam’ web portal [...]
LOLC Finance engaged in reforestation and eco system restoration project in Deniyaya
LOLC Finance PLC (LOFC) recently entered into an agreement with Mathurata Plantations and Vibhawa Solutions Pvt Ltd, to concentrate on replanting the endangered and endogenous species in degraded natural forests and private lands to support the reforestation efforts to enrich the natural order. The core target of this project is to plant 20,000 trees ranging [...]
Are advertising awards vain for gain or gain for vain?
We have 191 recognised advertising related award shows in the world and counting. These award shows are conducted independent of the respective national award programmes run in many countries. If national awards are added, there could well be over 300+ award shows in a year which is on an average one award show every work [...]