Protests over new e-visa process
Ms. Angeline Ondaatji, Bobby Jorden and Paddy Paul (left to right) representing Sri Lanka’s travel industry held a media conference on Friday to complain about the new e-visa process. Pic by Akila Jayawardena
VFS charges $25 while local company bid was for only $1
Controversy surrounds the newly introduced online visa system (e-Visa) which was awarded to VFS Global through a cabinet paper in December 2023. All foreigners arriving in the country, subject to on-arrival visa or on-arrival free-visa, are mandatorily required to pay US$ 25.77 (service fee $18.50 and convenience fee $7.27) through the e-Visa system. Earlier a [...]
Tea estates become hotbed for election promises
The government has been involved in bringing out this new wage structure for estate workers following discussions held recently with estate sector trade unions without considering the proposals put forward by the Planters Association (PA) or other stakeholders. The latest wage hike has been gazetted just ahead of key elections scheduled to be held later [...]
Import of vehicles only by next year-Minister
The gradual increase in dollar reserves and the rise in the value of the rupee will allow the import of vehicles at least by next year, Finance State Minister Ranjith Siyambalapitiya told the Business Times. The committee appointed to carry out a comprehensive study to systematically remove restrictions on the import of vehicles has already [...]
M & A in the CSE & across biz
The Colombo Stock Exchange (CSE) is expected to see an increase in strategic share deals, mergers, and acquisitions (M&A) activity, and outright sales across various industries in the coming months. Analysts predict that larger parcels in listed Blue-chip firms will change hands, with a combination of local and foreign buyers. An analyst told the Business [...]
Customs aims highest revenue target amidst import rackets
Customs is striving to reach the highest revenue target in its 117 year history amidst inconsistent tax policy and under invoicing of unscrupulous importers and traders, the department’s official sources revealed. It is also noted that for the purpose of avoidance of under-invoicing and under-evaluation of importation of goods, a specific unit rate of duty [...]
Visas rejected, glitch in new system
The Sri Lankan tourism industry raises suspicions on “elements” within the government as responsible for causing economic disruptions as the new visa process operated by a privately owned company rejects tourist visas due to a “glitch” in the system. Following the long queues experienced at the Bandaranaike International Airport (BIA) and increased fees charged by [...]
Warning signals for tourism
At a tourism panel discussion, some years back when Sri Lanka reached its highest arrivals figure in 2018, the question was raised as to whether Sri Lanka would have to import food to feed its 22 million people plus 2.4 million tourists? What impact would there be on prices of essential commodities when hotels order [...]
Out of the woods, now?
In 2015, I gave an interview to the Sinhala newspaper “Deshaya” which was published in its September 6 issue. The literal meaning of the title of this article was “[there will be] nobody to save us, when we fall”. I was referring to the debt crisis of Greece and the fact that Sri Lanka which [...]
President hails Dilmah’s entry into cinnamon cultivation
President Ranil Wickremesinghe has expressed his government’s commitment to implement programmes aimed at popularising cinnamon cultivation. He was speaking at the launch of ‘Dilmah Cinnamon’ this week at the Galle Face Hotel in Colombo. The ‘Dilmah’ brand, renowned for elevating ‘Ceylon Tea’ in the global market, has ventured into the Sri Lankan cinnamon industry by [...]
Immigration and Emigration Department faces fury over passport delays
Thousands of Sri Lankans are compelled to wait for long periods to receive new passports as the Immigration and Emigration Department works through a backlog of applications amid high demand for international travel. The online passport application processing system operates at snail’s pace as a result of data entry delay in the system and the [...]
Melco helps develop Sri Lanka’s first integrated resort with JKH
Melco Resorts & Entertainment Ltd and John Keells Holdings have formed a partnership to bring Melco’s casino operations to Sri Lanka. Melco will be the casino operator for John Keells’ US$1 billion integrated resort in central Colombo. The resort is expected to be completed and begin operations in the third quarter of 2024. Melco will [...]
Sanjay Wijemanne, new Chief Operating Officer at HNB
Hatton National Bank PLC has appointed Sanjay Wijemanne as the bank’s new Chief Operating Officer (COO) with effect from April 26, 2024, subject to relevant regulatory clearances. A banking industry veteran with more than 29 years of experience, including more than 14 years of corporate management exposure, Mr. Wijemanne previously served as HNB’s Deputy General [...]
Ms. Fariyha Subhani takes over as CTC MD
Pakistani national Fariyha Subhani has been appointed Managing Director and Chief Executive Officer of Ceylon Tobacco Company PLC (CTC) effective April 15, 2024, the company said this week. She takes over the reins as Managing Director from Monisha Abraham, who was appointed to the position in December 2021. Prior to joining CTC, Ms Subhani served [...]
Steady 1Q2024 performance from Pan Asia Bank
Pan Asia Banking Corporation PLC has reported its financial performance during 1Q 2024, which showed judicious portfolio management and prudency exercised in dealing with possible fallout on its asset quality in challenging times. The bank reported a Pre-tax Profit of Rs. 796 million for the quarter ended 31st March 2024, which is 47 per cent [...]
Southern MICE Expo 2024 in May
The Southern MICE Expo 2024 organised by the Sri Lanka Convention Bureau (SLCB) with support from the Ministry of Tourism and Lands, will be held on May 27-31 in Southern Sri Lanka. It is aimed at positioning Sri Lanka’s southern region as a prime destination for Meetings, Incentives, Conferences, Exhibitions and Events (MICE). A statement [...]
Jetwing Hotels invests $1 m on solar power in 2024
Jetwing Hotels, a pioneer in the Sri Lankan hospitality industry for over five decades, has invested over US$1 million to expand its solar photovoltaic (PV) installations by 1.6 megawatts (MW) by the end of July 2024. Installation work commenced in December 2023 and has made significant progress, currently standing at 65 per cent completion, the [...]
Strong performance from Seylan Bank in Q1 2024
Seylan Bank has announced growth in its Q1 2024 financial results as at March 31, 2024, with a pre-tax profit (PBT) of Rs.3,704 million, marking a 115 per cent increase compared to Q1 2023. The bank’s post-tax profit (PAT) also witnessed a growth of 102 per cent, at Rs. 2,295 million, it said in a [...]