Electric tuks
In a bid to revolutionise local transportation for the general public towards a greener and sustainable lifestyle, Vega Innovations, a subsidiary of CodeGen International, is gearing up to offer electric conversion kits for trishaws. Pic by M.A. Pushpa Kumara shows a technician carrying out work on a trishaw that is being converted to an electric [...]
Firms go overseas to mitigate risk in SL
Sri Lankan companies are taking their A game to other countries – partly because they are good at it and mostly to mitigate the macroeconomic risks in Sri Lanka. A top investment banker said that companies are progressively seeing risks in operating in Sri Lanka. He pointed out that restrictions in importing raw materials, power [...]
Apparel industry in major setback
The apparel industry is facing a 15-20 per cent drop in orders and revenue this season as a result of the economic downturn in its main exporting markets and with a possible outbreak of a war the future remains bleak. Joint Apparel Association Forum (JAAF) Spokesman Yohan Lawrence told the Business Times that they expect [...]
SL’s construction sector crashes, 90% of work suffers
Sri Lanka’s construction sector has crashed with 90 per cent of their work countrywide coming to standstill resulting in a possible loss of 75 per cent of the workforce mainly due to the shortage of cement, iron and other raw material and its high prices in the economic crisis, the National Construction Association of Sri [...]
Tuk-tuks future gloomy with zero imports
Sri Lanka’s 3-wheeler imports has dropped to almost zero level owing to the government’s strict vehicle import ban with only 19 new registrations of tuk tuks during January-August 2022, a sharp drop for the first time in over four decades, a top official of the Motor Traffic Department (MTD) said. MTD Commissioner General Nishantha Weerasinghe [...]
Losing jobs
When a Sri Lankan visiting Dubai on holiday recently walked into a shop, another person with two others, walked up to him and engaged the visitor in conversation. This is how it went: Stranger: Are you from Sri Lanka? Visiting Sri Lankan: Yes, why? Stranger: We are also from Sri Lanka. Do you work here? [...]
Adjusting to a “high-priced” economy
Asheni was standing near the cashier of a supermarket to pay for her purchases – groceries, meat, fruits and vegetables that she had collected in a trolly. Because Kamal, her husband likes fresh vegetable salads, she didn’t forget to collect few items for salads too. Just like all others, she has also cut down her [...]
Govt. offers over 6000 acres of NLDB farm land to private firms
In a strategic move of improving dairy and animal husbandry industry, the Government is now offering state-owned land and farms to private sector firms, local or foreign investors on long term basis. Under this initiative a tender has been called from prospective investors to take over six large farms with lands in the extent of [...]
Annis’ Travel and Tours sets stage for destination Sri Lanka
Sri Lanka has gained recognition as a destination worth travelling to as tour operators continue to market the land amidst challenges and one such organisation is Lanka Travel & Tours based in London. The company’s Managing Director Nissther Annis speaking to the Business Times (during a visit to Colombo) recalled his early days in trying [...]
Solar companies awaiting new tariff
The Solar Industries Association (SIA) is awaiting the introduction of a justifiable tariff scheme for solar-powered schemes in the near future. “We have discussed with the Power and Energy Minister and relevant officials the need for a new tariff to integrate solar energy in an expedient manner. The tariff committee agreed upon a new feeding [...]
Real estate, perfect hedge against depreciating currency
While Sri Lanka is grappling with the economic crisis and the rupee keeps depreciating, the property market is providing a perfect hedge for investors to dump a lump sum of money. Property developers are optimistic that even through the worst economic crisis, the real estate market has not seen any major impact. Prices of lands, [...]
New committee at JASTECA
The Japan Sri Lanka Technical and Cultural Association (JASTECA) held its 36th AGM on September 16 at Galadari Hotel Colombo. A new Executive Committee was inducted with Chandana Amaratunga at the helm as the President from 2022 to 2024. Mizukoshi Hideaki, Ambassador for Japan in Sri Lanka graced the event as the chief guest. Mangala [...]
New appointments to board of directors of AIA Sri Lanka
AIA Sri Lanka has announced the appointment of Tan Hak Leh as the new Chairman of the Board of Directors (BOD) with effect from July 2022. Mr. Hak Leh is the Regional Chief Executive of AIA Group Ltd with responsibility for the business operations in Thailand, Singapore, Brunei, Malaysia, Cambodia, Myanmar, Vietnam and now, Sri [...]
Dentsu Rise Up challenge tackles food wastage
At least 725 tonnes of food is wasted in the Western Province every day in Sri Lanka. This is a worldwide issue and not just a local problem. Dentsu Grant Sri Lanka in line with Dentsu’s global initiative “The Rise Up Challenge’, is launching an unique competition to address the global issue of food wastage. [...]
Sri Lanka’s IT export revenue can grow
As Sri Lanka’s long-standing IT export dominance continues to be tested through the emergence of similarly positioned but more cost-effective destinations, a dialogue has started on a much-needed shift in the IT sector’s export outlook, skills, and positioning. Such concerns were raised by former Australian Computer Society President Yohan Ramasundara in a panel discussion at [...]
‘Save the Sri Lankan Smile’ a 4-mth tourism recovery campaign kicks off
With Sri Lanka being well known for its warm hospitality and the heartfelt smile that keeps reminding tourists to revisit Sri Lanka, industry stakeholders kicked off a new campaign titled ‘Save the Sri Lankan Smile’. Tourism being one of the worst hit sector since the Easter Sunday attacks in 2019, the industry has faced many [...]
Sri Lanka has high endemism in South Asian countries
Sri Lanka has high endemism when compared to other countries in South Asia and is unmatched where animals and plants are concerned. A British celebrated scientist had found the oldest ants in the world that lived in the Ratnapura jungles centuries ago, said Prof. Sampath Seneviratne, of the Department of Zoology and Environmental Sciences of [...]
Taprobane Seafoods opens new Aquaculture Service centre in Puttalam
Taprobane Seafoods, Sri Lanka’s largest and most integrated seafood company, opened its second Taprobane Aquaculture Service centre in Puttalam recently to enhance access for shrimp farmers and to promote sustainable farming practices while reducing chemical usage. The centre, inaugurated by the Chairman of Taprobane Seafoods Dilan Fernando, is a one-stop-shop for all aquaculture products and [...]
International Award for Sri Lankan winner of Asia Young Designer Awards
Sri Lanka’s Dihan Dhamika Inshan recently received the international award in the Architectural Category for his project titled, ‘Waste Upcycling Park and Wetland Awareness Centre’ at the Asia Young Designer Awards. Earlier, he became the Sri Lanka Gold Winner in the Architectural Category. Entries from 15 countries including China, Japan, India, Malaysia, Singapore and Thailand [...]
Stretchline Holdings selects Oracle Cloud Infrastructure
Stretchline Holdings, the world’s largest manufacturer of the narrow elasticated fabric used by many of the world’s leading intimates, swimwear, and activewear brands, has gone live with Oracle Autonomous Database for analytics and data warehousing (ADW) on Oracle Cloud Infrastructure (OCI) to create a single, near real-time view of its data as well as automate [...]
Innovate Lanka is ready to accelerate your business
Innovate Lanka is a national initiative that brings all the start-up and SME ecosystem partners together to build the nation providing customised support for every entrepreneur and be the one-stop-shop for entrepreneurs to obtain funding, mentoring, incubating, accelerate, and grow them until maturity or exit. This is an initiative of the Council for Start-ups (CFS) [...]
Overseas School of Colombo wins Silver at ARC Awards
The Overseas School of Colombo recently celebrated a global accolade being the first Sri Lankan educational institution to win an ARC Award. OSC attained the Silver Award at the 36th Annual ARC Awards (headquartered in New York) for OSC’s 2020/21 Annual Report, themed ‘Our A-Team Brings Its A-Game to School’, competing under the ‘Non-Profit Organisation’ [...]
Hemas Manufacturing to go regional with FMCG
Hemas Manufacturing has strong plans to take its fast moving consumer goods (FMCG) products regional. The flagship brand Baby Cheramy celebrating 60 years while also being exported to Maldives, Canada, and India, will be venturing into markets in West Africa and Bangladesh, Sabrina Esufally, Acting Managing Director – Hemas Manufacturing told the Business Times. The [...]
Exciting line-up of speakers at CA Sri Lanka’s 43rd National Conference
An exciting array of speakers of both national and international fame are set to take the stage at the 43rd National Conference of Chartered Accountants as they share their thoughts and ideas with the country’s professional accounting community, including business leaders and c-suite executives, to take charge of transformation and help steer the nation out [...]