SL is becoming to India what Macau is to China: Melco

Melco Chairman and CEO Lawrence Ho this week said he saw Sri Lanka becoming to India what Macau is to China by tapping into its enormous population base and growing economy. As reported by Inside Asian Gaming (IAG), Ho noted that having looked at the Indian gaming market, there is not much to come of it for the next decade or so. “… and with the rising Indian economy and the wealth creation, Sri Lanka is the closest gaming jurisdiction to India,

JHK announces partnership with Melco for integrated resort project

John Keells Holdings (JKH) PLC this week announced it has partnered with Melco Resorts & Entertainment Ltd (Melco), one of the world’s largest integrated resort operators and an owner and developer of casino gaming and entertainment resort facilities, for its integrated resort project developed by Waterfront Properties Limited. In a filing to the Colombo Stock Exchange on April 30, JKH said a wholly-owned subsidiary of Melco would be the operator

Cement price drops by 2% per 50kg bag

The prices of cement dropped further yesterday, with a 50-kilogramme bag now being sold for 2 percent lower than the previous selling price.

Construction activity rebound persists for third consecutive month

In a further sign that the country’s beleaguered construction sector is expanding steadily, the construction sector Purchasing Managers’ Index (PMI) recorded an index value of 55.9 for March. Under the PMI, a contraction in activity and an expansion are split at the index value of 50.0. March marked the third month in a row that the construction sector activity in the country was steadily gaining steam, as the projects became available with the f

Big win for plantation workers as president announces Rs.1,700 daily wage hike

Sri Lanka’s plantation sector secured a big win yesterday, with the government announcing the increase of the daily wage of the workers to Rs.1,700. A gazette notification was also issued in this regard. The fight for higher wages by the plantation workers has been ongoing for months and gathered steam in recent weeks. The workers went on strike, demanding a hike while stating that the plantation companies are earning massive profits but have tak

JKH warns public about WhatsApp groups falsely using their name for scams

John Keells Holdings PLC has issued a cautionary notice to the public regarding WhatsApp groups falsely claiming affiliation with the company and some of its subsidiaries.

Daily wage for plantation workers increased

A gazette notification has been issued announcing the increase in the minimum daily wage of tea plantation workers to Rs. 1,700.

Cement price reduced by Rs. 50

Resulting from the fuel price revision from last night, the cement manufacturing companies have decided to reduce the retail price of a 50 kg bag of cement.

Tourism Minister to fix new visa system issues by May 7

Tourism Minister Harin Fernando has pledged to address technical issues of the new visa system by May 7. This comes amid concerns of potential losses of 230,000 tourist arrivals and US$ 425 million in tourism earnings for the year.

Colombo Consumer Price Index dips 0.8% in April despite festive demand

Colombo district prices have declined by 0.8 percent in April from a month ago. This was helped by the drop in both food and non-food prices in the month, in what appeared to be an idiosyncrasy as typically prices get a bump up during the festive month.

‘Serenade of the Seas’ makes maiden call at H’tota port

Cruise ship ‘Serenade of the Seas’ made her maiden call at the Hambantota International Port (HIP) this Monday (29).

SLPA container volumes expand 48% YoY in 1Q24

The Sri Lanka Ports Authority (SLPA) yesterday announced it achieved a record 48 percent Year-on-Year (YoY) increase in container volumes in the first quarter (1Q24). The numbers....

HSBC chief executive Noel Quinn unexpectedly steps down

HSBC’s group chief executive Noel Quinn is unexpectedly retiring after nearly five years in the role. Europe’s largest bank says it is in the process of finding a successor for 62-year....

First Capital Holdings PLC appoints Kuda Herath to Board

First Capital Holdings PLC announced the appointment of Kuda Banda Herath as an Independent Non-Executive Director to the company’s Board of Directors, effective....

Cabinet’s majority supports extension of free visa scheme

Tourism Minister Harin Fernando revealed that the majority of Cabinet members support the Cabinet paper extending a free visa scheme for 60 countries. According....

Bill auction yields plunge below 10.0% mark across the board

Bullish sentiment persisted in the secondary market for the 4th consecutive day, following the auction yields sharply declining in both T-Bond and T-Bill auctions. Short to mid tenors....

In search of social justice International Labour Day 2024

The International Labour Day that falls today is meant to recognise the contributions of the labourers and working class, the driving force of a country and backbone....

ASPI gains 8.0% during April

The ASPI closed in green as a result of price gains in counters such as Central Finance Company, Lion Brewery and Browns Investments with the turnover crossing Rs. 3.8 billion. Meanwhile...

Samson Rubber Products celebrates 30 years

As part of the 30th anniversary celebrations this April, Samson Rubber Products (Pvt.) Ltd (SRP) organised a grand series of events. On April 27....

Central Bank hosts FSB RCG Asia Meeting

The Financial Stability Board (FSB) Regional Consultative Group for Asia (RCG Asia) met on April 29, 2024 in Colombo. The discussions were....

Virtusa holds first-ever LinkedIn community event in Sri Lanka

Virtusa Corporation, a global provider of digital engineering and IT services, hosted the first-ever LinkedIn (LI) community event in Sri Lanka, dubbed ‘Connect Colombo’. The landmark....

Hutch unveils #GetHUTCHed QR codes

In a groundbreaking move to transform the way people get connected, Hutch has unveiled its nationwide #GetHUTCHed QR codes, showcasing unparalleled ingenuity and forward thinking....

Samsung ultra-high-definition TVs redefine display entertainment

In the ever-evolving landscape of home entertainment, Samsung once again takes the lead with its latest innovation – ultra-high-definition (UHD) TVs. More than just....

SLIoT Challenge 2023 receives SLT-Mobitel support

SLT-Mobitel empowered SLIoT Challenge 2023 that culminated with a grand finale, held recently at the University of Moratuwa. SLIoT Challenge 2023....

CA SL launches Galagedara’s ‘AI for Finance Professionals’

The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) recently teamed up with Chartered Accountant Prabash Galagedara to launch his transformative book on artificial intelligence...

SLT-Mobitel unveils Co-Connection ESG theme

Reaffirming its commitment to excellence in carrying out responsible initiatives to reduce human impact on the environment, empowering communities through digitalisation....

Cartoon of the Day 01-05-2024

Cartoon of the Day 01-05-2024

Over 2,400 new private companies incorporated in March 2024

A total of 2,440 new private limited companies have been incorporated between 1 to 31 March, according to the Department of the Registrar of Companies.

Income tax payment methods limited

As per the recently issued gazette notification, the income tax payments can only be made using three methods.

Sri Lankans rich in financial knowledge but poor in practice: CB

The financial knowledge of Sri Lankans is at satisfactory levels when compared with the other countries but the island nation is lagging behind financial behaviour, the financial sector regulator, the Central Bank said.