Awards for business women
Prof. Maithree Wickramasinghe, in the presence of President Ranil Wickremesinghe, presenting an award at the recent Women’s Chamber of Industry and Commerce (WCIC) awards ceremony in Colombo.
Ceylon coffee the next best drink from Sri Lanka
Sri Lanka is prioritising coffee cultivation with a number of plantations expanding into this industry, looking at capturing the export market with its speciality “Ceylon coffee”. The government has also called to prioritise coffee crop and is looking at opening up empty state lands especially upcountry for cultivation purposes. Sri Lanka which has a terrain [...]
Turbulence ahead: SriLankan Airlines divestiture on the brink
The divestiture of national carrier SriLankan Airlines and its subsidiaries catering and ground handling services is being pursued with glitches under the present difficult circumstance of attracting a broad range of potential investors, Aviation Ministry sources said. They said the prequalification deadline to buy a majority stake in the national carrier has been extended (until [...]
Nanocarriers, nano diagnostic kits to revolutionise medicine industry
The Sri Lanka Institute of Nanotechnology (SLINTEC), in a revolutionary move, has ventured into new spaces in Nanomedicine. The institute is now developing nanocarriers that can conjugate into existing or newly developed medicine which can carry the medicine to the correct organ in the body to treat the ailment better, Thushara Vajira Perera, Director SLINTEC, [...]
SL-India negotiating tech cooperation on lab testing and minerals
Sri Lanka which is currently negotiating a technology cooperation agreement with India on lab testing, should also be looking at singular trade agreements for sectors like the minerals, experts say. Currently, the International Trade Office is negotiating with India on a memorandum of understanding on technology cooperation for sectors like lab testing. K. J. Weerasinghe, [...]
MRR remains contentious issue within industry
Sri Lanka Tourism authorities were upbeat on Wednesday about the imposition of the Minimum Room Rate (MRR) and the revenue earned as a result of it; but the DMCs were a sad lot insisting that policies should benefit the entire industry and not just the hoteliers. The matter is before courts and the case will [...]
Public procurement law to replace current system
Sri Lanka’s current public procurement system based on comprehensive National Procurement Guidelines issued in 2006/7 is being replaced by a new Public Procurement Law later this year, Public Finance Department sources said. The country currently lacks a formal legislative basis for procurement. All government procurement are being carried out in accordance with Cabinet approved guidelines. [...]
Mortgaging struggling assets
Aldoris, the choon- paan karaya, came down the lane this time playing a mournful tune on his speaker as if reflecting the disturbing crisis facing his countrymen. The trio was gathered at the gate and just as he reached them, he said bakery sales have dropped by 50 per cent owing to the high prices [...]
Getting along with the neighbours
Sri Lanka entered a bilateral Free Trade Agreement (FTA) with Thailand on February 3 which is scheduled to be effective from January 1, 2025. This is the second most comprehensive FTA that Sri Lanka signed after its FTA with Singapore (2018). However, the Sri Lanka – Singapore FTA was on hold for five years without [...]
Sri Lanka’s strategy in the region and the world was terrible
While the world is going through an unprecedented level of events, conflicts, geo-political trade wars and so on strategically planned by powerful nations, it’s unfortunate that Sri Lanka seems out of the world. Sri Lanka’s strategy in the region and the world is terrible and the country’s policy view in the region and the world [...]
Platned expands in SL leveraging skilled IT workforce
Platned, a leading technology solutions provider headquartered in the UK, is tapping into the country’s growing IT industry, and leveraging its skilled workforce through further expansion in Sri Lanka. This is a strategic move to tap into the country’s growing IT industry and leverage its skilled workforce, Chamara Arunoda, CEO & Co-founder Platned told the [...]
Landmark decision in respect of an admiralty case
A Cyprus-based shipping company has lost its case on three different occasions – in the Commercial High Court, the Appeal Court and the Supreme Court – in a landmark decision pertaining to the arrest of a vessel that docked in Colombo. In September 2014, Luna Shipping of Cyprus filed action in the Admiralty Court (Commercial [...]
Ecological and economic cost of Adani’s wind power in Mannar
Sri Lankans would be forced to pay exorbitant rates for energy derived from wind power by India’s Adani Green Energy project on the northwestern Mannar coast. “We are being forced to buy power at 4 US cents per unit for 25 years when the market rate is just 2 US cents,” said Rohan Pethiyagoda, a [...]
AFI Corp appoints Rimaz Marzook as new CEO
Sri Lankan technology services and staff solutions outsourcing company AFI Corp announced the appointment of seasoned corporate leader Rimaz Marzook as its new Chief Executive Officer (CEO). AFI Corp caters to a diverse clientele in North American and European markets, offering solutions ranging from cybersecurity and software development to staff augmentation and technical support, it [...]
World Bank country manager to present K. Sivagananathan memorial oration
The 22nd annual memorial oration and awards ceremony of the K. Sivagananathan Memorial Trust (KSMT) jointly organised by the Association of Professional Bankers of Sri Lanka and the KSMT will be held on Thursday with Ms. Chiyo Kanda, World Bank’s Country Manager for Sri Lanka delivering the memorial oration titled “Sri Lanka’s Opportunity to Build [...]
“Wild Trails by Suri” bags Traveller Review Award
“Wild Trails by Suri” camp site situated in close proximity to the Yala national park has bagged Booking.com’s Traveller Review Award 2024. Based on a pool of over 308 million verified customer reviews on Booking.com, the 12th installment of the Traveller Review Awards chose its winners, adjudicators stated. Glenn Fogel CEO of Booking.com said “We [...]
BOC reports Rs. 40.3 bn profit in 2023
The Bank of Ceylon (BOC) has reported a Profit Before Tax (PBT) of Rs. 40.3 billion for the year ended 31st December 2023 demonstrating a strong and steady performance across various dimensions. BOC Chairman Ronald C Perera said, “The bank has successfully navigated all headwinds it came across during the past few years and immediate [...]