Avurudu shopping
A week before the Avurudu celebrations, shoppers were busy in Pettah looking for clothes for the family. Pic by Priyankara Samaraweera
Sri Lankan shrimp industry on a nosedive
Sri Lanka’s shrimp farmers and exporters in 2024 face the challenge of being wiped out on the back of rising operational costs, declining demand from source markets, and record-low global prices. Sustaining operations are unviable anymore, shrimp exporters and farmers lament. The high cost of production, including expenses such as electricity and taxes on exporting [...]
Supreme Court to adjudicate on hotel rates issue next month
The spat between Sri Lankan hoteliers and tour operators is about to reach its climax next month when a judgment from the Supreme Court is expected in the case against the imposition of a minimum room rate (MRR) for Colombo city hotels that could now spill to all parts of the country and be extended [...]
Budget undergoes complete overhaul for the first time in history
Sri Lanka’s budget for the first time in history is set for a complete overhaul, covering the entire government sector to ensure full transparency of fiscal planning and other policy interventions, Finance Ministry sources said. All the previous budgets provided incomplete information on the use of public funds, fiscal policy setting and equally incomplete transparency [...]
Government continues debt servicing of multilateral lenders
The government is continuing negotiations with bilateral and multilateral lenders including World Bank and Asian Development Bank along with donor countries to secure financing support for development projects, a Finance Ministry report revealed. Relevant agreements will be signed for foreign financing this year following the IMF Executive Board review to confirm that multilateral partners are [...]
Unions take labour reforms to court
Trade unions have resorted to take legal action against the proposed labour law reforms. The 14 trade unions representing workers across various sectors at the National Labour Advisory Council (NLAC) are currently carrying out discussions on filing a case against the proposed labour law reforms initiated by Labour Minister Manusha Nanayakkara. FTZ and General Services [...]
Harnessing maximum benefits from Eppawala rock phosphate
The government is venturing into public private partnership with suitable foreign investors for the manufacture of phosphate fertiliser making use of the Eppawala rock phosphate deposit in the North Central Province, Agriculture Minister Mahinda Amaraweera said. Arrangements are being made to establish a chemical fertiliser company jointly with the Lanka Phosphate Limited (LPL) operating under [...]
Avurudu blues
It was a warm Thursday morning when Aldoris, the choon- paan karaya, came in his tuk-tuk with an Avurudu song blaring from his loudspeakers. Stopping at the gate, where the trio had gathered, he proceeded to offer kavum and kokis but was stopped by Kussi Amma Sera. “Aiyo maeva hari ganang nae. Mama maeva gedera [...]
Big Mac and Burgernomics
After about 25 years of operations since 1998, on March 24, McDonald’s closed down its business in Sri Lanka. The shocking news was reported widely in both local and international media. The closure of the business was a result of a legal battle in the Commercial Court of Colombo regarding the poor hygienic status of [...]
Softlogic Life introduces SL’s first AI-powered Annual Report Analyser
Softlogic Life has launched ‘Annual Report Analyser’, Sri Lanka’s first AI-powered tool that analyses and interprets information from its annual report titled ‘Bigger, Better, Bolder’. By revolutionising the analysis of company data, Softlogic Life Annual Report Analyser will offer stakeholders a quicker, simpler, and more efficient means of accessing critical information, the company said in [...]
‘The Pekoe Trail’; an adventure experience beyond tea
Sri Lanka is well-known for its rich tea plantations and thick forest reserves across the central highlands while establishing a world renowned brand for producing the best ‘Ceylon Tea’ globally. A cuppa generally narrates the story of the tea plantations, the smell of freshly plucked tea leaves and the lifestyle of the tea pluckers and [...]
Concerns over insurance
A recent incident in Sri Lanka’s insurance industry has raised significant concerns about the ethical conduct and professionalism within the sector. While insurance is meant to provide protection and support in times of crisis, the actions of some players in the industry have come under scrutiny. In a recent case involving a well-known export company [...]
‘Worky’ – a platform transforming Sri Lanka’s job market
In a significant boost to Sri Lanka’s employment landscape, especially during its challenging economic times, a groundbreaking platform named ‘Worky’ was launched on March 20. Designed to bridge the gap between job seekers, part-time workers, students, and service seekers, ‘Worky’ is poised to revolutionise the way people find work and hire for services in Sri [...]
SLCB launches maiden Southern MICE Expo 2024
The Sri Lanka Convention Bureau (SLCB) is organising the Southern MICE Expo 2024, scheduled to take place from May 27 to 31st, 2024. This is aimed at positioning the Southern Region as a destination for Meetings, Incentives, Conferences, and Exhibitions & Events (MICE), offering a unique platform for international MICE agents and media professionals to [...]
Watawala Plantations invests in key infrastructure unit
Diversified agribusiness company, Watawala Plantations PLC, recently announced a Rs. 1.86 million investment towards the installation of a dedicated electricity transformer, ensuring reliable power for Nakiyadeniya’s residents and its palm oil mill. The installation of the new transformer will help to cater to growing demand for electricity for both the Nakiyadeniya Palm Oil Mill and [...]
CA Sri Lanka’s ‘The Hub’ magazine takes flight in West Asia
Embarking on a journey of connectivity, the Kuwait Chapter of the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) ventured into uncharted territories recently by marking a significant milestone in the landscape of communication with the launch of “The Hub” magazine. The magazine was officially launched at the Crowne Plaza Hotel in Kuwait, [...]
Get policies right before elections: World Bank
Economic experts at the World Bank have warned that Sri Lanka needs to have its right policies for reform in place ahead of crucial elections later this year that they fear are likely to change the course of the country’s political outlook. Given Sri Lanka’s “remarkable” resilience, economic stabilisation as it comes out of a [...]
Developing a creative economy
Sri Lanka’s total dependence on the traditional economy is coming to an end and Sri Lanka should follow a new growth model based on Innovation, Entrepreneurship and Creativity as done by Taiwan for semiconductors, China for AI and South Korea for creative industries. Though the economy has to be driven by the private enterprises, the [...]
ADB on track for reforms-based funding for Sri Lanka
The Asian Development Bank (ADB) has linked the funding of programmes in Sri Lanka based on the reforms progress as the development agency insists that the timeline on reforms need be followed. The ADB’s Country Director Takafumi Kadono addressing the launch of the ADB Sri Lanka Country Partnership Strategy 2024-2028 “Serendipity Knowledge Program” (SKOP) in [...]
Quantum introduces Cutting-Edge Networking Solutions
Quantum Networks India, a leading provider of networking technology solutions, has officially launched its innovative products and solutions in Sri Lanka, at an event in Colombo. The event gathered over 30 industry professionals and stakeholders who were treated to a preview of Quantum Networks India’s ground-breaking offerings. Attendees enjoyed ample networking opportunities, fostering meaningful connections [...]
Father of Ceylon Tea feted in Scotland
A tea promotion event was held in Aberdeen, Scotland recently in commemoration of James Taylor, the father of Ceylon Tea. A visit was made to his ancestral home as well.
New leadership at Expolanka
Expolanka Holdings has appointed Bokuto Yamauchi, a seasoned industry expert with a wealth of experience in logistics, as the Group CEO of Expolanka Holdings and President of EFL Global. Mr. Yamauchi’s appointment reflects Expolanka’s commitment to maintaining its position as a market leader and he brings a wealth of experience and expertise to his new [...]