Atlas and Ridee Viharaya help schoolchildren
Schoolchildren carry their essential learning materials received at an event hosted by Atlas, a learning brand in Sri Lanka, and Ridee Viharaya, Kurunegala. The company has so far gifted over 50,000 Sri Lankan schoolchildren with learning material.
Trade unions reiterate demand for increase in national minimum wage
The National Labour Advisory Council (NLAC), which has not met for several months now particularly during the tenure of the previous Ranil Wickremesinghe regime, finally met on Wednesday after a long spell where trade unions reiterated demands for a higher national minimum wage for the private sector. Veteran trade union leader, Palitha Athukorale, President of [...]
Political stability key for stock market highs
Sri Lanka’s political stability was rated as a critical factor for the momentum in the Colombo stock market along with other fundamentals and impending budget proposals which will capitalise on the country’s growth thrust. Analysts noted that the country came out on top in debt restructuring, the low-interest rate regime, and improved tourist arrivals. Inward [...]
Berthing delays lead to vessels bypassing Colombo
The Colombo Port is losing its competitiveness as vessels bypass Colombo due to delays in turnaround time and the lax attitude of related government agencies involved in clearing containers that have been piling up, directly affecting Sri Lanka’s main transshipment business at the port. Shipping industry officials pointed out that currently there is a berthing [...]
Jaya Terminal expansion delay setback for Colombo Port
The highly delayed operational expansion of the Jaya Container Terminal (JCT) is affecting operations at the Colombo Port while doubling the building cost along with the procurement of new gantry cranes. In fact, according to its latest report by the National Audit Office, the revised cost of the project has been estimated at Rs.10 billion [...]
RPCs want state plantations to show the way
Plantation company (RPC) owners have stated that if the authorities want to implement a monthly salary for estate workers they should then begin the system first with the state plantations and then establish a model to understand the feasibility of such a proposal. Planters Association Spokesman Dr. Roshan Rajadurai queried as to how to pay [...]
Sri Lankan tile industry awaiting better policies
The Sri Lankan tile industry is in a fix awaiting better policies to go forward with investments. The government should come up with educated, game-changing policies to give a fillip to this industry, top officials said. “Over the years, politicians have singled out the tile industry, as one that made unreasonable amount of money. But [...]
Entitlement culture
Should I be pleased or was it just a coincidence? In a November 10, 2024 column titled ‘Reinventing the wheel’, I wrote: “With new committees, institutions and political authorities comes a requirement of space to house these new bodies. The BMICH is often used to house presidential commissions and inquiry committees. Maybe some of the [...]
Red rice and red-coloured rice
Recently, a friend of mine posed an important puzzle to me: “I know the value of ‘free trade and competition’ for the success of businesses, but I have a difficulty of applying it to our rice production in Sri Lanka”. Many of our rice farmers are poor and the price they receive for paddy harvest [...]
Central Bank to regulate Informal Money Transfer Systems
The Central Bank has taken steps to regulate informal money transfer systems including Undial and Hawala to ensure financial stability and prevent illicit activities. The Undial and Hawala systems are informal, trust-based methods of transferring money, common in South Asia and West Asia. They offer speed and cost-effectiveness but lack transparency, raising concerns about money [...]
Ogilvy’s Geometry, only Sri Lankan Agency to win at Epica Awards
Geometry Global, a Strategic Business Unit of the Ogilvy Group Sri Lanka, achieved a significant milestone as Sri Lanka’s only agency to be recognised at the prestigious Epica Awards 2024. The agency secured a Bronze in the ‘Public Interest – Social Advocacy’ category for its meaningful ‘Books that Keep on Giving’ campaign for ProMate (Printxcel), [...]
Sarvodaya Development delivers positive results in 1H 2024/25
Sarovodaya Development Finance PLC (SDF) has achieved a new milestone as an ethical provider of financial services by becoming a full member of the prestigious Global Alliance for Banking on Values (GABV). This development is a significant step in SDF’s ongoing mission to promote financial inclusion and sustainable development across Sri Lanka. As the financial [...]
Symposium on Commercial Mediation by International ADR Centre
The International ADR Centre Sri Lanka (IADRC), will hold its annual Symposium on Mediation for Commercial Dispute Resolution on January 29 at the Courtyard by Marriott, Colombo. While mediation has become popular globally as a meaningful dispute resolution method for the resolution of a variety of categories of disputes, and several international bodies have adopted [...]
Planters’ Association commends postponement of SVAT abolition
The Planters’ Association of Ceylon (PA) has commended the Government for its decision to postpone the abolition of the Simplified Value Added Tax (SVAT) system to April 1, 2025. This decision, initially planned for January 1, 2024, followed strong opposition from a broad coalition of exporters and business chambers. While the postponement provides some relief, [...]
Dr. Sirimal Abeyratne, new Executive Director at CEPA
The Centre for Poverty Analysis (CEPA) has announced the appointment of Dr. Sirimal Abeyratne as its Executive Director, effective February 1, 2025. A distinguished economist and thought leader, he brings a wealth of expertise and an illustrious career in academics, policy-making, and research to CEPA at a pivotal time for Sri Lanka, CEPA said in [...]
CA Sri Lanka submits budget proposals to support national revival and growth
The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) has submitted a set of proposals for consideration in the upcoming government budget for the year 2025. These proposals aim to bolster Sri Lanka’s economic revival and growth trajectory while promoting governance, transparency, and accountability to restore public confidence in fiscal policy, the institute [...]
Sri Lanka’s Techno Park Project abandoned midway amid mismanagement
Sri Lanka’s ambitious initiative of creating a techno-entrepreneurship driven economy and reduce Sri Lanka’s reliance on agriculture in 2021 has now become a nonstarter owing to financial misappropriation, irregularities and lack of operational funding. The National Techno Park Eco-System Development project, which will comprise modern tech infrastructure in strategic locations of Galle, Kurunegala, Digana, Nuwara [...]
Plantations struggle with rising lease payments
Plantation companies are facing financial pressure, including managing lease payments to the government for the land they operate on. The industry is primarily based on state-owned land, and these companies are required to pay annual lease fees to the government. These payments are a significant part of their operational costs. A total of 249,843 hectares [...]
AI won’t save the Planet
GENEVA – This year’s annual meeting of the World Economic Forum in Davos, where participants will address the theme of “Collaboration for the Intelligent Age,” comes at a critical juncture for the planet. Ecosystems are straining under the pressure of climate change, and the interconnected cycles that maintain freshwater availability, soil moisture, ocean health, and [...]
Sri Lanka’s Electric Vehicle Revolution: A Sustainable Path Forward
As Sri Lanka prepares to lift its vehicle import restrictions by February 2025, there is a growing anticipation of a surge in electric vehicle (EV) adoption. This shift promises to reduce the nation’s dependence on fossil fuels, aligning with global trends toward sustainable transportation. However, the environmental benefits of EVs can be undermined if the [...]
HSBC, Sarvodaya champion economic empowerment for women
HSBC, in partnership with Lanka Jathika Sarvodaya Shramadana Sangamaya (LJSS) and Sarvodaya Fusion, has launched the Women Empowerment and Digital Inclusion Programme. This two-year initiative empowers women-led SMEs in five provinces by providing training, mentorship, seed funding, and market access, aligning with the UN’s Sustainable Development Goal 1 (No Poverty). The programme aims to promote [...]