Sri Lanka’s newest mall
The upmarket Havelock city mall, the newest shopping mall in Colombo, is due to open next week at Havelock town. Pic by M.A. Pushpa Kumara
Israel at war: Impact on Ceylon Tea trade
With Israel’s announcement of going to war against Palestine the impact of it on Sri Lanka’s trade with West Asia particularly for tea is being keenly watched should it hurt an industry that was just struggling to revive. Despite outbreaks of internal skirmishes in the last few years, it had no impact on Colombo; but [...]
CBL expands footprint in Bangladesh
CBL Munchee Bangladesh, the flagship biscuit brand of Ceylon Biscuits Ltd (CBL) has set up a chocolate manufacturing plant in Bangladesh to capture the Bangladeshi chocolate market. This is in line with its expansion strategy in this country after establishing themselves in the biscuit sector, Prashanthan Pathmanathan, Chief Financial Officer CBL Munchee Bangladesh, told the [...]
Six state-owned banks to undergo urgent reforms
Sri Lanka’s six state-owned banks are set to undergo urgent reforms due to current pressure exerted on its capital positions from massive amounts of bad loans and urgent funding as well as liquidity constraints, informed official sources said. These local banks need Rs. 1.4 trillion capital injection after bad loans increased to alarming proportions in [...]
New bill on water commercialisation soon
A new bill on water is to be brought before Parliament with the aim of protecting water resources and ensuring its proper management, its organisation, ownership and liability, a cabinet paper relating to this legislation revealed. The legislation is aimed at regulating water supply market and the restructuring of state institutions connected to the management [...]
Brandix Apparel stronger after pandemic in Bangladesh
Brandix Casualwear Bangladesh Ltd is aggressively continuing its digital transformation journey while constantly innovating its product portfolio amid multiple challenges after the pandemic. Having started operations in its second factory in 2021, the company has ramped up about 50 per cent of the capacity, Sanuja Herath Chief Operating Officer, Brandix Casualwear Bangladesh Ltd told the [...]
Responsible opposition
Sri Lanka’s parliamentary opposition often seeks special debates in Parliament to discuss issues of importance. Some of the recent debates were the economic crisis, a no confidence motion against Health Minister Keheliya Rambukwella (which was defeated) and fresh revelations on the 2019 Easter Sunday terror attacks. However, these discussions end up in shouting matches, wild [...]
Lonely island in globalising Asia
Last week, there was a seminar to commemorate the 117th birth anniversary of the late President J. R. Jayewardene, widely known as “JR”. The seminar was on the “Open Economy and JR” and was held at the Sri Lanka Foundation Institute (SLFI). Prof. Rohan Samarajiva and I delivered speeches, while it was attended by about [...]
LTL offers its O&M expertise to Bangladeshi market
Sri Lanka’s LTL Holdings, amongst its expansion and diversification plans in Bangladesh, is actively trying to do what it is best at – offering Operations and Maintenance services to the Bangladeshi market. Operations and Maintenance (O&M) is the performing of day-to-day activities expected to maintain facilities (buildings, grounds, equipment, systems) to the maximum extent possible [...]
CEB awaits approval for new tariff hike to bridge revenue loss
The Ceylon Electricity Board (CEB)’s revenue has come down during the past three months as a result of a power consumption drop following the proposal to impose another 22 per cent electricity tariff hike, official data showed. According to the CEB’s monthly financial statements the income of the power utility in the months of July, [...]
CICT crowned Best Container Terminal of its capacity in Asia for 7th consecutive year
Colombo International Container Terminals (CICT) has been declared the Best Container Terminal in Asia in 2023 in the Under 4 million TEUs category, winning the coveted title for the seventh consecutive year. CICT’s impressive triumph on the global stage was announced by Asia Cargo News at the 2023 Asian Freight, Logistics and Supply Chain (AFLAS) [...]
Rockland Group celebrates excellence and innovation
The Rockland Group, a pioneer in Sri Lanka’s beverage industry, recently hosted its inaugural Chairman’s Awards, a glittering event that celebrated excellence, innovation, and the commitment of its talented workforce. Established in 1924 as Rockland Distilleries, Sri Lanka’s first commercial distillery, the Rockland Group has evolved into a powerhouse with a diversified portfolio of beverages [...]
NDB SL’s Most Innovative Digital Banking Brand for 2023
NDB Bank was recently crowned the Most Innovative Digital Banking Brand Sri Lanka 2023 by the Global Brands Magazine UK. In addition, NDB was also honoured as the Leading SME Banking Brand Sri Lanka and the Best Banking Brand for Women Empowerment Sri Lanka, the bank said in a media release. The Global Brand Awards [...]
Nishan Silva, new Regional General Manager – Dubai & Emirates North at Accor
Dubai – Nishan Silva has been promoted to Regional General Manager – Dubai & Emirates North at Accor, stepping into his expanded role at Accor, reporting directly to Jonathan Sheared, Senior Vice President Operations, Premium, Midscale and Economy hotels, Middle East, Africa & Turkey. Prior to his recent appointment, he has held the position of [...]
Digital Mastery and Leadership Ignite 2023
Singapore’s Excellence Edge International (EEI) One, a sought-after training organisation, will conduct workshops and discussion forums from October 30 to November 2 for the public and corporate sector to motivate them on how to face the current challenges and achieve their objectives Three of this organisation’s expert trainers will work with the consultancy company Diligent [...]