BOI puts spotlight on 30 companies for noteworthy contribution to FDI

The Board of Investment (BOI), the apex agency for foreign direct investment (FDI), last week put the spotlight on entities that have significantly contributed to the development and growth of the national economy. The inaugural

Convention Bureau to host Southern MICE Expo 2024

The Sri Lanka Convention Bureau (SLCB) announced Southern MICE Expo 2024, scheduled to take place from May 27 to May 31, 2024. This innovative e

LB Finance updates CIM app

LB Finance celebrated a milestone moment yesterday, with the unveiling of the updated CIM app. This revamped version promises enhanced convenience and security, catering to the evolving needs of modern financial management. Central to the upgrade is the seamless integration of biometric authentication, including fingerprint login, e

Dharini Fernando joins George Steuart Insurance Brokers board

George Steuart Insurance Brokers (Private) Limited (GSIB) announced that Dharini Fernando has joined its board of directors, with effect from April 1, 2024. Possessing ove

HNB announces 2 strategic appointments to board

Sri Lanka’s leading private sector retail bank HNB PLC announced two strategic additions to its board of directors, with the appointment of distinguished banking industry luminaries, S. Renganathan and Nanda Fernando as Independent Non-Executive Directors, marking a significant enhancement to the bank’s governance and strategic direction.

Amazon cuts hundreds of jobs in cloud computing unit

BBC: Technology giant Amazon has announced job cuts affecting hundreds of staff at its cloud computing business. Amazon Web Services (AWS) has been growing and now represents 14 percent of Amazon’s total revenue, according to it

SL to roll out preferential policies at faster pace for China

Sri Lanka recently expressed its keenness in luring in investments from China, for which it stands ready to provide a favourable investment and business environment. According

Voice of technology innovators must be heard by governments: Microsoft

Technology company Microsoft Corporation asserted the need for close collaboration with industry bodies across Asia to ensure that the voice of technology innovators are heard by the governments and decision-making bodies. Accordin

Minimum Room Rates a needed market push: Hiran Cooray

Jetwing Hotels Chief Hiran Cooray defended the Minimum Room Rates (MRR) as a necessary market push under the curr

Govt. says focus is now on attracting competitive investments

As Sri Lanka is making progress in its revival efforts, President Ranil Wickremesinghe said the focus now lies in attracting competitive investments. This is will e

Future Forward with AI

In a rapidly evolving digital landscape, the transformative potential of artificial intelligence (AI) is reshaping industries, economies and societies worldwide. To delve deeper into this tool that is evolving at lightning speed, Mirror Business

Central Bank issues guidelines to establish Business Revival Units

Sri Lanka will likely see fewer businesses collapse from the challenging macroeconomic circumstances, as the financial sector regulator, the Central Bank, instructed the licensed banks to further strengthen the already established revival units.

Tourist arrivals surpass 200,000 mark but miss monthly target

Sri Lanka crossed the 200,000 tourist arrival mark for four consecutive months from December 2023, through March 2024, affirming good times are back for the once hard-hit industry that almost came to a standstill.

Sustainability neglect may stunt tourism growth in Sri Lanka: Intrepid Travel Chief

A global leader in responsible tourism raised concerns on lack of focus on sustainability in the tourism sector, which in turn could impede the current growth momentum in the medium term.

Asian Institute of Technology invites prospective students for Master’s and PhD programmes

The Asian Institute of Technology (AIT) in Thailand stands as a beacon of academic excellence with over six decades of history. More than 26,000 alumni from over 100 countries are a testament to AIT’s role in shaping global leaders. AIT is a vibrant community celebrating diversity with students from 50 plus countries. Education at AIT transcends boundaries, with English as the language of instruction and more than 40 plus academic programmes. A

JKF initiates nutrition awareness in schools

John Keells Foundation (JKF) in collaboration with the Scaling Up Nutrition People’s Forum (SUN PF) has initiated a series of nutritional awareness sessions, as part of the ongoing School Nutrition Programme, targeting ten selected schools in the John Keells Praja Shakthi locations of Colombo 02 and Ja-Ela. The programme is aimed at fostering nutrition awareness and promoting sustainable practices such as school gardening to complement the schoo

Union Assurance hosts inaugural Inter-University Quiz Competition

Union Assurance recently announced the conclusion of its inaugural Inter-University Quiz Competition 2024. The competition, launched with the aim of fostering intellectual engagement and celebrating the exceptional talent of Sri Lanka’s future workforce, has garnered considerable participation and enthusiasm from universities across the country. The Inter-University Quiz Competition, is a testament to Union Assurance’s commitment to actively co

Harcourts International School celebrates 40 years in education

Harcourts International School celebrated 40 years in education recently. The commemoration took place at the Bishop’s College Auditorium, and showcased the school’s journey from its inception to the present, creating a visual timeline of achievements under the theme ‘Through the Decades of Excellence’. Gracing the event as Chief Guest was Dewi Gustian Tobing, the Indonesian Ambassador to Sri Lanka and Maldives and the Guest of Honour, Rishard

CA Sri Lanka’s flagship MBA to shape biz landscape

For over 64 years, the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) has been a cornerstone of the nation’s accounting landscape, nurturing thousands of accounting professionals and shaping leadership. Chartered Accountants produced by CA Sri Lanka hold prominent positions, including Chairmen, Partners, CEOs, CFOs, and Managing Directors, demonstrating their commitment to excellence. CA Sri Lanka Business School has been a leadi

ESOFT launches doctoral programmes with leading international universities

ESOFT Metro Campus recently celebrated the launch and inauguration of two doctoral programmes at its premier Campus One branch at One Galle Face Business Tower. The ceremony marked the introduction of the first and only British PhD programme in Sri Lanka, delivered by Kingston University and the Doctor of Business Administration (DBA) programme offered by Manipal GlobalNXT University in collaboration with ESOFT. Dr. Dayan Rajapakse, Chairman/Grou

NDB Bank holds Exporters’ Forum

NDB Bank hosted an Exporter Forum on March 26, aimed at fostering collaboration and driving economic recovery and growth in Sri Lanka. The event, held at the Ramada Hotel, brought together industry leaders, policymakers, and exporters to discuss strategies for boosting foreign exchange earnings and supporting the nation’s prosperity. Held under NDB’s ‘Jayagamu Sri Lanka’ platform, the forum strived to empower local businesses and bolster the nat

ComBank stimulates opportunities for SMEs with trade fair in Colombo

Nearly 200 small and medium enterprises (SMEs) from all over Sri Lanka were recently provided an invaluable opportunity by the Commercial Bank of Ceylon, to exhibit and sell their products and services in Colombo, and to engage with customers at a unique SME Trade Fair. The two-day fair at the Sri Lanka Exhibition & Convention Centre (SLECC), Colombo 1, saw the participation of SMEs from Jaffna, Batticaloa, Puttalam, Anuradhapura, Badulla, Kurune

Vallibel Finance opens branch in Boralesgamuwa

Vallibel Finance opened its latest branch in Boralesgamuwa recently. Managing Director of Vallibel Finance Jayantha Rangamuwa graced the occasion. Rangamuwa said, “Our corporate mandate is to make available our services in the most approachable and reachable manner to our customers. At every instance we strive to provide financial solutions in the most creative and innovative ways that suit the requirement of the customer by understanding their

SEC and CSE conduct Investor Forum in Dambulla

The Securities and Exchange Commission of Sri Lanka (SEC) in collaboration with the Colombo Stock Exchange (CSE) conducted an Investor Forum in Dambulla recently. The forum was organized with the objective of raising awareness on the importance of investor education with regard to the investment opportunities that exist in the stock market and investor protection. With the aim of educating the business community of the Dambulla district, the fo

BOI felicitates Brandix as Outstanding Exporter

Brandix Apparel was recognized as Most Outstanding Exporter in the Merchandise category by the Board of Investment of Sri Lanka (BOI), as the investment promotion arm celebrated its 45th anniversary. At the BOI Awards ceremony, Brandix Group Managing Director Hasitha Premaratne and Group Chief Executive Ashroff Omar received awards from President Ranil Wickremesinghe for the Outstanding Individual Contribution towards growing Sri Lanka’s export

Taylor Swift joins world’s richest on billionaire list

BBC: Taylor Swift has joined Elon Musk as ranking among the world’s wealthiest people, according to a new rich list. The American pop star entered the Forbes World’s Billionaires List for the first time with US $ 1.1 billion (£877 million), along with Sam Altman, creator of the AI chatbot ChatGPT on US $ 1 billion (£800 million). LVMH French luxury goods titan Bernard Arnault and his family topped the chart with an estimated US $ 233 billion (£1

ADB urges SL to adopt realistic expectations for reform efforts

The Asian Development Bank (ADB) yesterday pledged its support to help Sri Lanka steer through the ongoing reform process; however, it noted that there needs to be “realistic expectations”. Acknowledging that Sri Lanka is at the initial stages of implementing challenging reforms within a tight time-frame, the ADB emphasised the need for a more sustainable approach to their implementation. “There needs to be a realistic expect

World Bank stresses need for sustained reform implementation

As Sri Lanka is looking to leave behind the effects of the crisis and move towards development, sustained reform implementation is essential for Sri Lanka to have a stronger and more resilient economy, the World Bank said yesterday.

World Bank projects 2.2% growth for Sri Lanka in 2024

Sri Lanka is likely to witness a modest growth of 2.2 percent in 2024, according to World Bank projections, showing signs...

Cabinet nod for tourism sector to import 1000 vehicles

Sri Lanka’s tourism sector will be able to improve the quality of transportation services to international visitors as it will soon...