Transshipment hub
Rows and rows of vehicles await transshipment at the Hambantota Port. Picture taken on June 7 by M.D. Nissanka
Women shunned by the Labour Council
Women worker representatives have been thrown out of the National Labour Advisory Council (NLAC) this year and now the council is scrambling at the behest of the Minister to find women from the appointed trade unions to join in the discussions. This issue came to the fore when the first meeting of the newly reconstituted [...]
DDR worries overhang stock market sentiment
The Central Bank (CB) Monetary Board’s cut interest rates earlier this month with the market recovering for two days but resumed the general monotonic tone thereafter. The regulator cut both SLFR (Standing Lending Facility Rate) and SDFR (Standing Deposit Facility Rate) to 13 per cent and 14 per cent, respectively, from 15.5 per cent and [...]
Being pharma sufficient to stop dollar outflow
Navesta Pharmaceuticals unveiled the first ever EU-GMP compliant IV (Intravenous Medication) manufacturing facility in Sri Lanka and went on to set up the second factory manufacturing capsules, tablets, and syrups. With a vision to build an owner brand and a dream to make Sri Lanka self-sufficient in pharma, Sanjaya Jayaratne, the Chairman / CEO Navesta [...]
Govt. absorbs $3.86 bn SOEs debts
The Government has absorbed billions of dollars of borrowed money denominated in foreign currency by state enterprises following the standstill of external public debt servicing for an interim period pending an orderly and consensual restructuring process, a Finance Ministry report revealed. State-owned utilities and public sector services including energy, petroleum, water, transportation, etc have been [...]
Slippery slope for garments
It was that time of the day when Aldoris, the choon-paan karaya, invaded the neighbourhood in his music-blaring tuk-tuk. The trio was waiting for him in anticipation of another long conversation while munching maalu-paan. “Mama giya sumane honda ayojanayak kara (I made a good investment last week),” he said, while doling out maalu-paans. “Eh mokakda [...]
Unwanted foreign reserves
Russia has accumulated billions of Indian rupees last year and now doesn’t know what to do with that. Last week it was reported that the Indian rupees that Russia has amassed through its bilateral trade with India is equal to US$147 billion by the end of 2022. It was also reported that India’s attempt to [...]
E-V permits for migrant workers violate global norms
Sri Lanka is now importing electric vehicles for migrant workers following the government’s approval to further extend the time line issued for importation till September 15, 2023 which are violating global manufacturers’ recommendations, motor traders alleged. This was the third time the Government decided to extend the timeline of the electric vehicles import scheme for [...]
Chicken and egg situation in new renewable energy
While renewable industry officials lament that banks have stopped lending to their projects, bankers counter saying no one has presented new renewable energy project proposals. The renewable energy industry owes Rs. 60 billion to private banks. There is no way for them to repay these amounts without a new feeding tariff, is what industry officials [...]
Big corporates knock on SLINTEC’s door
The Sri Lanka Institute of Nanotechnology (SLINTEC) has just received request from large corporates in the country to develop products and processes. Thushara Vajira Perera, Director SLINTEC told the Business Times that this happened after the ‘Analytical Hub’, was held as an event to showcase the capabilities of the institution’s analytical services to meet challenges [...]
New book dealing with growing talent
Dr. Nalin Jayasuriya, Chairman of McQuire Rens Global Consulting (Pvt) Ltd., and Non-Executive Chairman of Eswaran Brothers Exports (Pvt) Ltd, has authored his second book, ‘Attract Potential & Grow Talent’. Among very current areas addressed in the book, Dr. Jayasuriya has dedicated chapters to ‘Who do I want and how do I find who I [...]
Prajeeth Balasubramaniam at the helm at LAN
The Lankan Angel Network (LAN), the country’s largest network of angel investors, has elected serial investor and entrepreneur Mr. Prajeeth Balasubramaniam as the Chairperson of its board for 2023/2024. The founder of LAN, and its inaugural chair, Mr. Balasubramaniam has taken over the stewardship of LAN from its outgoing chairperson, Ms. Chandi Dharmaratne, who congratulated [...]
Ceylinco Life’s new COO and Deputy COO
Ceylinco Life has announced the appointments of Messrs Ranga Abeynayake and Samitha Hemachandra as Chief Operating Officer and Deputy Chief Operating Officer respectively, following the creation of the two positions as part of the company’s leadership pipeline for the next decade and beyond. Mr. Abeynayake has been with Ceylinco Life for 25 years and is [...]
IronOne Technologies Appoints Former Sri Lankan Ambassador Manori Unambuwe as Vice President to Drive Global Expansion
IronOne Technologies is pleased to announce the appointment of Manori Unambuwe as Vice President of Strategy and International Markets. In this role, Manori will lead IronOne’s global strategy, overseeing the company’s expansion into new markets and driving growth in existing ones. She will also be responsible for IronOne’s business development efforts, identifying new opportunities to [...]