Mobile photo studio
Photographer Sanka Gallage has come up with an innovative concept – a mobile studio. He has converted a bus which contains a photo studio and an instant printing shop. The bus is parked at his residence at Battaramulla and can be driven to any location in Sri Lanka. The concept was launched on August 18, [...]
On arrival visa issues, daunting challenge for Sri Lanka
Sri Lanka’s visa crisis has triggered many concerns for foreign visitors as some have been turned away at the airport while there is still absolute confusion faced by visitors over the procedure to enter the country. After the Supreme Court temporarily suspended the VFS-led online visa process, all travellers to Sri Lanka are now eligible [...]
IRD to freeze 900 high tax defaulters’ accounts
Sri Lanka’s key revenue agencies Inland Revenue, Customs, and Excise Departments have collected Rs.1,680.2 billion in the first half of the year, representing 44 per cent of the expected revenue, showing some progress. However, tax exemptions totalling Rs. 978 billion and an inability to collect over Rs. 1 trillion have led to a significant Treasury [...]
SEC gets six responses for derivatives exchange
The Securities and Exchange Commission (SEC) has received six expressions of interest (EoIs) to set up and operate a multi-asset class derivatives exchange but has extended the timeline for submission as there is more demand, high-level top sources said. They said many had requested more time to submit their proposals; hence the regulator had extended [...]
Sri Lanka’s rubber industry to trial new cocktail mix
The rubber industry wants the government to assist the smallholders and the Regional Plantation Companies (RPCs) to obtain the required funding to apply the recent cocktails researched by the Rubber Research Institute (RRI) costing Rs.12, 500 per hectare. Colombo Rubber Traders Association (CRTA) Past President Manoj Udugampola told The Sunday Times Business that the government [...]
Presidential election debate by Ceylon Chamber
The Ceylon Chamber of Commerce has invited the four main Presidential candidates to nominate their leading economic policy experts to participate in a debate presenting each party’s economic policies and pledges ahead of the 2024 Presidential Election, on August 29 at the BMICH. State Minister Shehan Semasighe represents the President Ranil Wickremesinghe and in terms [...]
Wages on plantations hard to come by
The rubber industry already plagued by low production numbers as a result of the pesta disease that has been affecting the rubber crop for several years says it will be difficult to meet the Rs.1700 wage hike as agreed upon at the last Wages Board meeting. It was pointed out that the maintenance of the [...]
Visit-visa syndrome
It was a casual remark by Kussi Amma Sera on Tuesday, while she brought me a mug of tea that piqued my interest. “Aei kattiya neethi virodi lesa pita rata yanne rassawal hoya gena (Why do people go abroad illegally to find a job),” she asked. “Mokakda eke theruma (What do you mean)?” I asked. [...]
Election talks and promises
Sri Lanka has a history of “election promises” over its three-quarter century old democratic governance. As we approach the Presidential Election 2024 in a few weeks’ time, we are once again hearing (often similar) election promises and political statements over and over again. For the next couple of weeks, I thought of carrying out an [...]
Sri Lanka enters economic crossroads amid Presidential race and IMF reforms
Sri Lanka is facing economic challenges during the presidential election period, bringing attention to the International Monetary Fund’s (IMF) lending framework reforms. The present government has turned to the IMF for the 17th time to address the 2022 economic crisis and lay the groundwork for sustainable, inclusive growth. President Ranil Wickremesinghe recently warned that renegotiating [...]
EDB/SLASSCOM empowers female tech entrepreneurs
The Sri Lanka Export Development Board (EDB), together with SLASSCOM, recently launched the “SheExports” Capacity Building Programme for female Tech Entrepreneurs. This initiative, designed as a long-term capacity-building and mentoring programme, marks a significant milestone in empowering women entrepreneurs in the ICT/BPO sector to take their ventures to the international stage, the EDB said in [...]
COYLE’s new Young Lankans’ programme
The Chamber of Young Lankan Entrepreneurs (COYLE) has announced the launch of its latest initiative, the Young Lankans’ programme. This youth development project is designed to foster entrepreneurship among the next generation, empowering young minds across Sri Lanka to become the driving force behind the nation’s economic growth, COYLE said in a statement. The Young [...]
Sri Lanka ready for Artificial Intelligence (AI)
Artificial Intelligence (AI) is the most talked about two-letter word in the world and will lead the fourth industrial revolution. A strong governance framework, onboarding the government sector, strong public-private partnerships (PPPs) with multinational corporations (MNCs), and re-skilling youth will be critical components of Sri Lanka’s AI journey, top experts said. Despite Sri Lanka being [...]
UNDP and Australia support Sri Lanka to foster sustainable livelihoods
The United Nations Development Programme (UNDP) and Australia are collaborating to support Sri Lanka’s community-based organisations (CBOs) in implementing local projects that contribute to global environmental goals while fostering sustainable livelihoods. Under the seventh Operational Phase (OP7) in Sri Lanka, 20 community grant projects, along with additional grants for capacity development, knowledge management, and social [...]
Govt. plans to empower 21,000+ industries
The Sri Lankan Government is set to implement strategic plans aimed at enhancing the competitiveness of over 21,000 small and medium-scale industries across the country. Minister of Industries and Health, Ramesh Pathirana, emphasised the importance of aligning with Indian industrial developments and collaborating with global partners to advance these objectives. This initiative is part of [...]
T-shirt for a tourist
A tourist couple checking out a t-shirt in a pavement shop in Colombo. Traders are benefitting from the growing number of tourists in the country. Pic by Akila Jayawardana
A.G. Kumudika Fernando appointed chairperson at Maliban Group
The Maliban Group, a household name in Sri Lanka with a 70-year heritage in quality and taste, has appointed Ms. A.G. Kumudika Fernando as Chairperson of the Group with effect from August 15. The appointment follows the recent passing of A.G. Ratnapala Samaraweera, the previously-serving Chairman of the Maliban Group, who is also Ms Fernando’s [...]
ComBank’s strong support to Sri Lankan home builders
The Commercial Bank of Ceylon has emerged as the biggest supporter of potential home builders in Sri Lanka, achieving market leadership in the ‘Home Loans’ sector. The bank has announced that its home loans portfolio grew to Rs. 72.965 billion as at 31st March 2024, and achieved the number 1 place, it said in a [...]
Seylan Bank’s solar loans and working capital loans for SMEs
Seylan Bank is offering Small & Medium Enterprises (SMEs) solar and working capital loans, providing critical funding options for businesses in urgent need of financial support.. These solar loans provide SMEs with an affordable and flexible financing option that facilitates the adoption of renewable energy as business investments, the bank said in a media release. [...]
JAT sees bottom-line growth of 77% YOY in Q12024/25
JAT Holdings PLC, Sri Lanka’s market leader in wood coatings, paint brushes, and rollers, recently released its financials for Q1 of FY 2025, seeing strong growth in both its top- and bottom-line. Revenues rose by 3 per cent to Rs. 2.2 billion compared with the same period in the previous year, driven by noticeable growth [...]
LTL completes Sri Lanka’s tallest Met Masts project
In a significant stride toward bolstering Sri Lanka’s infrastructure and renewable energy capabilities, LTL Holding Ltd’s heavy Engineering arm has completed the Fabrication, Galvanizing, Painting (Duplex Coating), and Installation of six Met Masts. The primary objective of these towering Met Masts is to gather crucial and comprehensive data on wind speed, direction, and other significant [...]
Union Bank, University of Moratuwa promote entrepreneurship development
Union Bank (UB) has announced a new Memorandum of Understanding (MOU) with the University of Moratuwa (UoM) and the National Innovation Agency to support the National Entrepreneurship Development Programme (NEDP), aimed at empowering SMEs and youth aspiring to become entrepreneurs across Sri Lanka. The MoU was signed in the presence of Nirvana Chaudhary, Chairman of [...]
Sri Lanka re-engages with India’s Petronet LNG for major energy project
The Sri Lankan Government has reinitiated its collaboration with India’s Petronet LNG Limited after a seven-year hiatus to enhance the infrastructure for the Sobadhanavi Combined Cycle Power Plant in Kerawalapitiya, according to sources from the Ministry of Power and Energy. A memorandum of understanding (MoU) has been signed between Sri Lanka’s LTL Holdings Ltd and [...]
Eco Solar inks deal with BOC for affordable solar energy
Eco Solar Rays Pvt Ltd recently announced a pioneering arrangement with Bank of Ceylon. The deal involves a special loan scheme at 7 per cent for customers to obtain solar installations, provided by the Bank of Ceylon. “With over 70 years of experience in the Sri Lankan trade, Eco Solar Rays has established itself as [...]
CEAT unveils another radial masterpiece
CEAT Kelani Holdings has reinforced its status as a big-league player in the tyre industry with the launch of a new radial segment for high-end SUVs battling Sri Lanka’s roads and tracks. Designed, engineered and tested in the company’s state-of-the-art R&D Centre in Frankfurt, Germany, the CEAT Czar HT (265/65 R 17) is manufactured for [...]
100 aspiring young entrepreneurs at SPARK 2024 competition
The 2024 edition of the SPARK Skilled Youth Entrepreneurship Competition has concluded its first round with 100 youth competitors undergoing an advanced training in business foundation skills and business plan development. SPARK is an annual skills focused launchpad for Sri Lanka’s next generation of business leaders, transforming their approach to entrepreneurship with a combination of [...]
Serendib Flour nourishing elders for 3rd year
Serendib Flour Mills has announced the continuation of the ‘Uththama Dalada’ project for the third consecutive year, for Sri Lanka’s elders. This year, the initiative will host over 100 elders from four selected homes: two in Kegalle and two in Katugasthota (Kandy). These special guests will embark on an unforgettable journey to visit the Dalada [...]
Women entrepreneurship and networking event held in Colombo
The recently concluded “Women Entrepreneurship & Networking” event in Colombo marked a significant milestone in the promotion and support of women entrepreneurs in both Malaysia and Sri Lanka. Organised by the Sri Lanka Malaysia Business Council (SLMBC) in collaboration with Apex Endeavour Sdn Bhd, the event brought together prominent business leaders and aspiring entrepreneurs, setting [...]