Mumbai Airport’s concept of emotional support dogs for travellers
A pack of nine dogs is welcoming passengers travelling through the Mumbai airport in India as part of its “Pawfect” programme. Titled “COMFORTING ANGELS — INSTANT RELIEF FROM TRAVEL STRESS,” this is a novel feature at the airport to reduce the stress of travellers. In Sri Lanka the only dogs used at the airport are [...]
FinCSIRT warns against phishing sites, pulls down 50 fake websites
Sri Lanka’s fake websites and phishing game have scaled up in numbers. The Financial Sector Computer Security Incident Response Team (FinCSIRT), a part of Lanka Pay, has pulled down at least 50 fake phishing websites defrauding the gullible public, a top official said. “These scams have been there for some time. We have noticed them [...]
Millions wasted on multiple digital economy strategies
Questions are being raised about the money wasted on developing a major digital economy strategy six years ago. In mid-December 2017 the Ministry of Telecommunication and Digital Infrastructure, with the support of McKinsey & Company, embarked on the process of developing Sri Lanka’s Digital Economy strategy, an initiative to enable Sri Lanka to scientifically identify [...]
New Anti-Corruption unit to fast-track high-profile cases
The new administration led by President Anura Kumara Dissanayake is reinvigorating efforts to investigate and address high-profile corruption cases and financial crimes. These efforts will focus on the retrieval of overseas assets tied to key political figures, alongside a review of existing international legal frameworks to assist in the recovery process. The renewed focus will [...]
Coconut imports to fill gap of exporting products market
The Sri Lankan government will be importing stocks of coconut kernels in a bid to assist the thriving coconut export market in the wake of increased global prices for the product. The authorities believe that there is a mafia that is controlling the increased prices in the domestic market. Coconut Development Authority (CDA) Chairman Shantha [...]
2025 Budget introduces a new approach for the public economy
The Finance Ministry is crafting the 2025 national budget with a focus on enhancing production capacity, improving living standards, and managing economic policies to facilitate a recovery on the directions of President Anura Kumara Dissanayake. It aims to introduce a transformative strategy designed to rejuvenate the economy for the benefit of the people. It intends [...]
Foreign financing stabilises amid debt restructuring
Sri Lanka’s foreign financing situation in 2024 has shown signs of improvement, supported by increased foreign reserves and international assistance, primarily from the Asian Development Bank (ADB) and the International Monetary Fund (IMF). By the end of September 2024, Sri Lanka’s foreign exchange reserves had reached about $5.94 billion, covering approximately four months of imports. [...]
Back to school
During a recent visit to Germany to study migration trends and the prospects for skilled and professional Sri Lankans to work there, the first stop was at the Department of Civic Education where Frank Burgdorfer, an independent expert, briefed our group of journalists from India, Sri Lanka, Bangladesh and Nepal on demography, the skilled labour [...]
Post Office, turned to a luxury hotel
If you thought that I was going to talk about the Nuwara Eliya Post Office and the aborted plan to convert it to a tourist hotel, I am sorry, you are wrong. My purpose today is to talk about an actual project that transformed an iconic Post Office building to a five-star luxury hotel – [...]
Central Bank denies reports of extensive money printing
The Central Bank (CB) this week denied reports that it has “printed” Rs. 100 billion on October 25 through its Open Market Operations (OMOs). “It is important to clarify that these claims are not accurate and are baseless. The liquidity (money) injected through OMOs is a routine central banking function aimed at managing adequate liquidity [...]
Harvard University honours Kandeban Balendran
In recognition of his unwavering dedication, service to the community, and remarkable contributions to the betterment of society, his country, and the region through intellectual and social growth, Kandeban Balendran has been awarded the Outstanding Volunteer Leadership Award—one of the highest honours presented by the Harvard Alumni Association (HAA) of Harvard University. Each year, Harvard [...]
IATA: Fully digital travel experience closer to reality
The International Air Transport Association (IATA) and its partners have successfully demonstrated that the industry is ready to deliver a fully digital air travel experience. This was achieved in a proof-of-concept (PoC) involving two passengers using different digital wallets and travel credentials on a round-trip between Hong Kong and Tokyo. IATA partnered with Cathay Pacific, [...]
Union Bank recognised with ISO 27001:2022 Certification
Union Bank was recently recognised with the ISO 27001:2022 certification from the International Organisation for Standardisation (ISO) for its commitment to maintaining information security. This certification highlights the bank’s dedication to upholding international standards and protecting the information of its customers, stakeholders, and the bank, the institution said in a media release. The Enhanced Information [...]
Haycarb PLC triumphs at ARC International Awards 2024
The 2023/24 Annual Report of Haycarb PLC, a leader in activated carbon manufacturing and a member of the Hayleys Group, has been honoured with two prestigious awards at the 38th International ARC Awards, headquartered in New York. Themed “Thriving Together,” the report won a Gold award in the ‘Cover Photo/Design’ category and a Silver award [...]
99x Group emerges as a new tech powerhouse
The 99x Group has emerged as a leading force in the global tech landscape, with seven companies from Norway, Malaysia, Sri Lanka, Brazil, and Portugal uniting to strengthen its position in product engineering services, IT consulting, and web solutions. Bringing together more than 600 employees worldwide, the group includes Seeds, LeanOn, Nextly, Cleverti, Incrementi, Clave, [...]
Strengthening Sri Lanka’s apparel industry and social security
The Sri Lankan apparel sector has faced many challenges in recent years. As international demand wanes, many manufacturers, especially small and medium-sized businesses, have been forced to reduce operations. However, outdated termination laws in Sri Lanka have hindered local industries’ ability to adapt, leaving many with no choice but to shut down their factories entirely, [...]
Noyon celebrates over a century of Lace heritage
Noyon Lanka (Pvt) Ltd, a leader in lace design and sustainable textile manufacturing, marked its 20-year anniversary in Sri Lanka with a special event under the theme: 100 Years of Lace Heritage, 20 Years of Design and Craftsmanship. Noyon, a globally renowned lace design to delivery solutions provider, celebrated its anniversary at its headquarters in [...]
Govt. moves to control rising coconut oil prices
The government plans immediate action to control rapidly rising coconut and coconut oil prices in response to a supply shortage and high local demand, Agriculture Ministry sources disclosed. Local shortages have heightened the urgency to stabilise the domestic coconut oil market, as supplying coconuts domestically is challenging and unlikely to be resolved quickly, a senior [...]
SLBFE to probe allegations between auditor and GM
The Sri Lanka Foreign Employment Bureau (SLBFE) under the Ministry of Labour has plans to appoint an independent body to sort out the issue between D.D.P. Senanayake, General Manager (GM) SLBFE and National Audit Superintendent R.A.D.N. Gunasekara, top officials said. SLBFE’s new Chairman, Kosala Wickramesinghe told The Sunday Times Business that he is well aware [...]
ComBank Chairman, MD, meet Central Bank Governors of Bangladesh and Maldives
The Chairman of Commercial Bank of Ceylon PLC Sharhan Muhseen and the bank’s Managing Director/CEO Sanath Manatunge recently held discussions with the Governors of the Central Banks of Bangladesh and the Maldives on the sidelines of the annual meetings of the International Monetary Fund (IMF) and the World Bank Group in Washington DC. The discussions [...]
SL’s ISF to revolutionise coconut processing in Indonesia
ISF, a leading end-to-end engineering solution provider for coconut and dairy processing industries, in Sri Lanka, has recently signed a Memorandum of Understanding (MOU) with PT. Natural Indococonut Organik (NICO COCO), Indonesia’s leading coconut products manufacturer. The agreement, signed at the INASCA (Indonesia South & Central Asia) Business Forum in Jakarta, Indonesia, is set to [...]
LOLC Tech and Sanfer partners with OASYS^
OASYS^, a game-changing innovation by LOLC Technologies, a fully owned subsidiary of LOLC Group, has entered into a strategic partnership with Sanfer Technologies Ltd, also a fully owned subsidiary of South Asian Technologies. This partnership marks a significant advancement in its “Go-to-Market” (GTM) strategy. The Memorandum of Understanding (MoU) was officially signed recently at LOLC [...]
Pan Asia Bank posts firm results in first 9 months of 2024
Pan Asia Banking Corporation PLC has reported a resilient financial performance for the 9-month period ended 30th September 2024 amidst diverse challenges emerging from the improved but challenging macro-economic environment. The bank’s financial performance in the current period demonstrated excellence in core banking performance, judicious portfolio management and prudency in navigating a possible fallout on [...]
Seylan Bank records post-tax profit of Rs.6.59 bn
Seylan Bank recorded a Profit after Tax of Rs.6,593 million for the 9 months ended 30 September 2024 with a growth of 46.65 per cent against Rs.4,496 million reported in the corresponding period of 2023 despite a challenging environment. Seylan Bank recorded a Profit before Tax (PBT) of Rs. 10,608 million for the 9 months [...]
FACETS on Jan. 4-6, 2025
The 31st edition of FACETS Sri Lanka, South Asia’s premier gem and jewellery exhibition will kick off on January 4-6, 2025 at the Cinnamon Grand Hotel in Colombo. The exhibition organised by the Sri Lanka Gem and Jewellery Association (SLGJA) is a global meeting point for the gem and jewellery industry, attracting renowned traders, wholesalers, [...]