Old ways of tapping toddy
A toddy tapper uses ancient methods of tapping toddy during a familiarisation tour in Chilaw and Marawila of production facilities of the family-run Rockland Group, Sri Lanka’s celebrated spirits’ producer which is commemorating its centenary year in 2024. Pic by M.A. Pushpa Kumara
Indian interest in SLA resumes; state scouts strategic investor
Serious interest from major Indian operators have been seen flowing in for national carrier, SriLankan Airlines for the past few months and some are likely to firm up after the Cabinet decided to cancel its sale, as per a statement by the state’s restructuring agency on Thursday. “Globally there’s no real appetite for this carrier,” [...]
BIA second terminal project to begin soon following JICA’s funding renewal
The second terminal construction of the Bandaranaike International Airport (BIA) extension project will begin shortly after the delay of over one year under a concessionary Japanese International Agency (JICA) loan scheme, Minister of Ports, Shipping and Aviation Nimal Siripala de Silva said. The construction of the second terminal at the BIA began at a cost [...]
Sri Lanka in high risk of ML & TF
The recent money laundering-related (Club Wasantha) assassination which shook the country will surely put Sri Lanka on the spot with the Financial Action Task Force (FATF), grey list, top officials predict. When the FATF places a jurisdiction under increased monitoring, it is often referred to as being on the “grey list.” This means that the [...]
Some 2% of Sri Lanka’s tea lands to brew coffee
Sri Lanka’s tea plantations are seeing a gradual shift in production towards coffee cultivation as production in Ceylon tea declines and coffee demand picks up. Currently plantations are seeing about a 1-2 per cent of the estates being converted to coffee as tea is receiving a gradual decline in demand. Based on latest consumption trends [...]
New regulations for leasehold UDA lands to prevent malpractices
The Government is fast-tracking the promulgation of new regulations for leasehold state land owned by the Urban Development Authority to thwart irregularities and malpractices in such property deals. Minister of Urban Development and Housing Prasanna Ranatunga said that the several lands leased out to investors for mixed development and condominium projects on long term basis [...]
International experts propose viable oil palm standards
Sri Lanka is on its way to lifting the oil palm ban and Indian experts are helping to make oil palm cultivation sustainable. Dr. Suresh Motwani, Asia Veg Oil Programme Head, Solidaridad, an international civil society organisation noted that in 2017, the Solvent Extractor Association and Solidaridad with the support of the Indian Institute of [...]
Garnering migrant workers support
Last week, a Sri Lankan migrant working at a farm on the Israeli-Lebanon border was injured in a missile attack on Israeli positions by Hezbollah militants based in Lebanon. He suffered head injuries and was rushed to hospital. While his condition was deemed not serious, Sri Lanka’s Ambassador in Israel Nimal Bandara has urged Sri [...]
Sri Lanka’s “hidden poor”
Last few weeks, I was engaged in a couple of meetings, discussions, and interviews related to the country’s newest poverty status. Let me quote some information from one of the interviews I had with an executive level professional working in a financial sector organisation. Let us call him “Chris”, without disclosing his identity. However, today [...]
Sri Lanka adopts smart destination management and IoT to attract more tourists
Sri Lanka is adopting innovative measures to leverage information technology for tourism, aiming to meet the needs of travellers worldwide, according to Sri Lanka Tourism Development Authority (SLTDA) Chairman, Priantha Fernando. He emphasised the necessity for all industry stakeholders to join hands in promoting tourism with discipline and responsibility, especially considering the challenging turnaround from [...]
100PLUS hydration drink unveiled in Colombo
100PLUS, Malaysia’s premier isotonic drink, by Bolt Distribution, a member of the Thakral Group Sri Lanka, was unveiled in Colombo recently. “100PLUS will refresh and rejuvenate the Sri Lankan markets,” said Hilmey Niyas, CEO of Thakral Group Sri Lanka, amidst the glamorous gathering. “This drink is a perfect blend of style and functionality, designed to [...]
99x introduces OptimaxerAI Web
99x this week launched OptimaxerAI Web, an innovative platform designed to run AI directly in the browser. This cutting-edge solution is the latest addition to 99x’s AI product family, OptimaxerAI, and is set to revolutionise how users leverage artificial intelligence with its powerful and flexible capabilities for various use cases, the company said. Commenting on [...]
Amana Bank participates at IsDB Annual Meeting in Riyadh
Amana Bank recently participated in the IsDB Annual Meeting, held at the King Faisal Conference Centre, Intercontinental Hotel, Riyadh, Saudi Arabia. Coinciding with IsDB’s Golden Jubilee, the IsDB Annual Meeting marks five decades of dedicated efforts towards socio-economic development in member countries and beyond. Amana Bank was represented at the event by Managing Director/CEO Mohamed [...]
Preparing for a Future of Extreme Heat Waves
SINGAPORE – People across Asia have eagerly awaited the end of heat-wave season, which now appears to be drawing to a close. In my home country, the Philippines, the first typhoon of the year arrived in late May, lowering temperatures that had climbed to nearly 50° Celsius (122° Fahrenheit). Over the previous few months, the [...]
JAAF commends reduction in electricity tariffs
The Joint Apparel Association Forum (JAAF) has welcomed the recent decision by the Public Utilities Commission of Sri Lanka (PUCSL) to implement a 25.3 per cent reduction in industrial electricity tariffs, parallel to a 27 per cent reduction for domestic customers and a 22.5 per cent overall reduction effective from July 16, 2024. In addition [...]
Human capital summit
President Ranil Wickremesinghe, former Prime Minister of Australia Scott Morison and former Maldives President Mohamed Nasheed in conversation at the Human Capital Summit 2024 held in Colombo on Thursday. Prime Minister Dinesh Gunawardena is also in the picture taken by M.A. Pushpa Kumara.
Book Review “Depositors, White Collar Crimes, and Human Rights”
“Depositors, White Collar Crimes, and Human Rights,” authored by D.S.D. Batugahage LL.B, LL.M, Attorney-at-Law, and launched on March 23, 2024, provides a rare and insightful exploration of the predicaments faced by depositors in Sri Lankan finance companies. This scholarly work dissects the intricate nexus between financial institutions, corporate malfeasance, and human rights violations, offering a [...]
CA Sri Lanka unveils special logo to celebrate 65th anniversary
The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) unveiled a special logo on Thursday in celebration of its 65th anniversary this year. The logo symbolises CA Sri Lanka’s rich heritage and unwavering commitment to professional excellence. The new logo was unveiled at a media conference graced by Heshana Kuruppu, President of CA [...]
False distinction between Industrial and Economic Policy
CAMBRIDGE – After being disparaged and disdained for decades, industrial policy is back on the global economic agenda. Perhaps the strongest evidence of industrial policy’s rehabilitation is a recent international conference on rethinking structural transformation, co-sponsored by the International Monetary Fund and attended by some of the world’s most influential economists. Industrial policy is back [...]
National Chamber of Exporters opposes removal of SVAT System
The National Chamber of Exporters of Sri Lanka (NCE) has expressed its strong opposition to the planned removal of the Simplified Value Added Tax (SVAT) system, scheduled for April 2025. As the sole chamber representing the interests of Sri Lankan exporters, the NCE highlights the potential negative impacts on the export sector and the broader [...]
SDB bank and Rabobank to enhance agribusiness, SMEs
SDB bank has announced a strategic partnership with Rabobank, a renowned Dutch financial institution, to elevate the Sri Lankan agribusiness sector by empowering the cooperative sector and SMEs. This collaboration aims to build an efficient and productive financing model, focusing on social and environmental sustainability, leveraging digital solutions, climate-smart agriculture, value chain development, and potential [...]
NDB and SL Inventors Commission support future innovators
The National Development Bank (NDB) as a part of its sustainability initiatives, has recently entered into a partnership with the Sri Lanka Inventors Commission (SLIC) for the Sahasak Nimavum Project, which is a national competition for Sri Lankan inventors and innovators. This underscores NDB’s commitment to supporting up-and-coming inventors and thereby empowering the future of [...]
SLT-MOBITEL wins at TM Forum Digital Transformation World
SLT-MOBITEL, the National ICT Solutions Provider, clinched two key prestigious accolades at the TMForum Digital Transformation World – DTW24 IGNITE Awards on June 20, 2024, in Copenhagen, Denmark. The awards include Best Moonshot Catalyst – Growth Challenge for the project ‘SmartHive xG’ in recognition of its excellence in developing a blueprint for deploying cost effective [...]