In a reaffirmation of its superiority in providing unbeatable connectivity and a superior user experience SLT-MOBITEL Mobile was again ranked as the most ‘fastest Mobile Network by Ookla the world’s leader in mobile and fixed broadband network testing software including data analysis and data. This recognition is a testimony to SLT-MOBITEL’s commitment to provide record…
In an endeavor to energize Sri Lanka’s business revival, the Central Bank has introduced pivotal MSME recovery regulations. These regulations are designed to facilitate the resurgence of micro, small, and medium enterprises (MSMEs) by instituting business revival units within licensed banks. Each unit will specialize in assisting economically distressed businesses, steering them towards a path…
SriLankan Airlines, the national carrier of Sri Lanka and a member of the oneworld alliance, achieved the highest ever monthly revenue in Company history in December 2017. The air-transport operation of the Company recorded a stand-alone revenue of US Dollar 100.1 million – the first instance in the 38-year history of the airline where monthly…
SriLankan Airlines flight UL504 en-route from London to Colombo with 268 passengers was diverted to Frankfurt airport last night due to a medical emergency, the airline said. The fight has landed safely at Frankfurt International Airport in Germany. The airline in a travel alert said the most important factor was the health and safety of…
As a beacon of financial excellence in Sri Lanka’s financial landscape, LB Finance PLC has entered 2023 with a series of commendable achievements that reinforce its standing in the industry. The company’s dedication to best practices in financial reporting and corporate governance has been internationally acclaimed, securing multiple accolades that showcase its prowess. LB Finance’s…
Sri Lankan President Maithripala Sirisena has appointed seven members to the Office on Missing Persons (OMP) and handed over the over the appointment letters to the commissioners of the OMP on Wednesday at the Presidential Secretariat. The OMP law was passed in Parliament in Aug 2016 and the office became operational in September 2017 after…
Amid Sri Lanka’s striving towards economic stability, VAT benefits emerge as a cornerstone of the proposed tax reform. With an eye on bolstering the tax-to-GDP ratio, crucial for robust fiscal health, the country considers amendments to its taxation framework. As part of the IMF stabilization program, Sri Lanka is urged to enhance its tax-to-GDP ratio,…
Amidst the azure waters of the Indian Ocean, Sri Lanka’s ambitious urban development, Port City Colombo, emerges as a beacon of Sri Lankan economic development. With an injection of US $5.6 billion projected in foreign direct investment, this icon of innovation stands poised to redefine the island’s economic landscape. Touted as a service export Special…
As tensions and uncertainties cast a shadow over the India-China trade dynamics, the spotlight turns to India’s business reliability, positioning it firmly as a strategic partner within regional trade partnerships. Recent developments in South Asia bear witness to a significant transition in economic alliances, as exemplified by Sri Lanka’s strategic pivot towards Indian firms for…
The fiscal landscape of Sri Lanka is approaching a significant shift, with VAT implementation in Sri Lanka standing at the forefront of modernizing the nation’s tax regime. Amid broader Sri Lankan tax reform, transitioning towards a system bolstered by Value Added Tax (VAT) is pivotal. Eyes are set on fostering economic recovery through taxation, and…
Sri Lanka Prime Minister Ranil Wickremesinghe has expressed deep concern over the recent statement made by the State Minister of Child Affairs Vijayakala Maheswaran that the vanquished terrorist organization LTTE should be reorganized to curb rising crime in the North. Accordingly, the Prime Minister has asked the President to remove Vijayakala Maheswaran from the state…
Sri Lanka’s budget openness in the latest survey has scored 44 out of 100, coming in next to last in South Asia, tied with Pakistan. Open Budget Survey, which scores 115 countries on the openness of their budget process, is the world’s only independent assessment of information disclosure in public budgets. The recent assessments of…
Mr. Moon Chan Kim the Co-founder and technical adviser of E&D Co., Ltd, a company which provides environment and energy technology solutions. Its products include EnDsel-PF, a device that reduces the particulate matter, carbon monoxide, and hydrocarbon emissions from diesel vehicles; and EnDsel-PPF, a solution for emission control from light and medium duty diesel vehicles. He…
Jan 22, Colombo: A research study published in Current Biology reports that the Sri Lankan elephants are scared of the sounds of honey bees and the honey bee colonies can be used to deter the elephants from roaming into villages and destroying the farmers’ cultivations. Playbacks of honey bee sounds have successfully been used for many years…
In 8 coordinated attacks around Sri Lanka, 215 people were killed and 449 were injured. the death toll included 35 foreign nationals. the nationalities were USA, Denmark, Pakistan, India, Morocco, China, Japan and Bangladesh. 7 persons have been arrested and an island-wide curfew has been imposed until 6 a.m on Monday morning. Schools throughout the…
Ward Place in Colombo has been closed for traffic from Town Hall due to a protest by university students, Ada Derana reporter said. The Inter University Students’ Federation (IUSF) organised the protest march in Colombo today (21), demanding solutions for the issues of South Eastern University students. The agitation is also against the recent statements…
Amidst the vibrant economic landscape of Sri Lanka, Port City Colombo emerges as a powerhouse for entrepreneurs and businesses, establishing itself as a premier Sri Lanka business hub. With its comprehensive corporate services and unparalleled investment opportunities, this beacon of commerce stands tall, heralding a new chapter in the island’s economic development. The Business Center,…
Addressing an important Parliamentary session on March 20th, Sri Lanka’s State Tourism Minister, Diana Gamage, advocated for stronger enforcement of visitor visa regulations, and a decisive business activity crackdown. Her statement highlighted the urgent need for tourism policy enforcement to bolster Sri Lanka economic protection, especially in the Southern Province, where local enterprises have been…
As gatekeepers of professional standards, CMA Sri Lanka recently gathered the esteemed minds in the field of finance and management at the Cinnamon Grand for a momentous occasion. The inauguration of the National Management Accounting Conference 2023 underscored the emergent need for ‘Sustainability and Value Creation in an Economic Turmoil’. Alongside the conference, the Professional…
The Galle Literary Festival is an international literary festival held annually in Galle, Sri Lanka. In recent years the profile of the festival has increased substantially, with attendances by many internationally acclaimed and well-known writers, grabbing the eyes of international crowds attracting so many different people every year. The festival was founded in 2005 by…
Amid shifting global trade dynamics, a significant evolution is unfolding within India-China business relations. Tensions have heightened in the arena of international projects, with nations like Sri Lanka seeking partners typified by partnership stability. Sri Lanka’s decision to favor India over China for critical energy tenders exemplifies the changing landscape. This move away from Chinese…
Generating Business Ideas While on SLTB Buses Undertaking a journey on Sri Lanka Transport Board (SLTB) buses isn’t just about transit from one destination to another; it’s become a dynamic environment for innovative thinking and business idea generation. Navigating through the bustling streets and serene landscapes of Sri Lanka, these state-owned buses harbor potential for…
The Department of Registration of persons has facilitated a one-day service for students sitting for the upcoming Ordinary Level Examinations to obtain their ID cards. Commissioner General Viyani Gunathilake said that IDs could be obtained at the main office of the department on November 25. The Commissioner General notes that the ID card need not…
Seven hundred buses representing the Kurunegala district have already left for Colombo carrying participants to the ‘Jana Balaya Colombata’ protest rally, which is planned to be held this evening (05), according to former Minister Jayarathne Herath. Kurunegala is the district represented by former President Mahinda Rajapaksa and populated by the most affected people, he added….
The landscape of Sri Lanka healthcare is undergoing a momentous transformation, with the Asiri Port City Hospital stepping into the limelight as a significant business pillar. Recognized for its strategic business importance, Asiri Port City Hospital, with its comprehensive healthcare development plan, is poised to revolutionize the nation’s medical services. Securing cabinet approval as a…