Solar Forge secures bid to commission 100MW solar plant in Batticaloa

The Cabinet nod has been granted to award the contract to commission a 100MW solar power plant in Oddamawadi, Batticaloa, on a build, own and operate basis (BOO), to Solar Forge Batticaloa. Power and Energy Minister Kanchana Wijesekera this week sought the approval of the Cabinet of Ministers to award the project to Solar Forge Batticaloa, on a BOO basis for a 20-year operating period. Solar Forge Batticaloa expressed interest to commission this

Kavan Ratnayake appointed as BOC Chairman

Top professional Kavan Ratnayake has been appointed as Chairman of the state-run Bank of Ceylon (BOC), the bank announced yesterday. In a filing to the Colombo Stock Exchange, BOC said the new chairman would take over his duties with effect from today (14). Ratnayake takes over the position from Ronald C. Perera, PC, who stepped down as Chairman yesterday. Ratnayake had earlier served as Chairman of the Sri Lanka Ports Authority, Sri Lanka Touri

Auction yields continue to sail northward

The secondary market witnessed a day marked by subdued sentiment, attributed to limited activities and thin trading volumes. Notably, the short to mid tenures, including 15.12.26, 01.05.27 and 15.12.28, enticed trades at 11.29 percent, 11.90 percent and 12.18 percent, respectively. Meanwhile, at the weekly T-bill auction held yesterday, the Central Bank partially accepted Rs.167.3 billion from the total of Rs.180.0 billion offered, whilst the au

Hutch covers 95% percent rural schools, 95% country’s population: CEO

In a groundbreaking initiative, Hutch recently declared the coverage of 95 percent of schools in rural provincial areas and 95 percent of the country’s population. To positively impact children and the education sector, Hutch has taken a step forward by distributing 130 electric bicycles (e-bikes) through an exclusive partnership with the Ministry of Education to rural schools and their staff across Sri Lanka. Saumitra Gupta, CEO of Hutchison T

Dialog partners SLIM to launch ‘SLIM Dialog Brand Week 2024’

Dialog Axiata PLC and the Sri Lanka Institute of Marketing (SLIM) have announced the launch of SLIM Dialog Brand Week 2024, a three-day symposium focused on the theme ‘What is Yet to Come’ in the context of brands, commerce and emerging technologies in Sri Lanka and around the world. The transformative event set to be held at Waters Edge from March 13th to 15th, aims to bring together Sri Lanka’s marketing professionals to inspire, educate and

Enterprise Analytics recognized as ‘IFS Services Partner of the Year’ again

Enterprise Analytics (EA) was recently recognized as the IFS Services Partner of the Year 2023 at the IFS Partner of the Year Awards. This is the second consecutive year EA has been recognized as the IFS Services Partner of the Year. The event, which was held in conjunction with IFS SaKo 2024, was held in London, UK. Eranda Maldeniya, Director of Enterprise Analytics said, “This achievement would not have been possible without their relentless e

Cleantech partners CodeGen for electronic waste disposal

Cleantech (Pvt) Ltd recently announced their partnership with CodeGen International for the responsible disposal of electronic waste (e-waste) for Vega Innovations, Codegen, Elektrateq, and Voltmotive. It reinforces Cleantech’s commitment to offering environmentally friendly solutions for the IT industry and its ongoing pursuit of a more sustainable future for Sri Lanka. Rukitha Nanayakkara, CEO of Cleantech (Pvt) Ltd said, “E-waste contain

Call for upward revision of Exit Offer

This is an open letter to the Chairman Bokuto Yamauchi and Chief Executive Officer Hanif Yusoof of Expolanka Holdings Pte Ltd., on delisting of shares. The company Expolanka Holdings Pte Ltd made an announcement on 1st March 2024 of the board’s decision to delist the company from the Colombo Stock Exchange with a view to accommodate the international    expansion of operations. I wish the company all the very best in their future endeavours. Howe

ComBank opens first ‘DigiZone’ experience centre at Wellawatte branch

The Commercial Bank of Ceylon has opened its first ‘DigiZone’ at the bank’s Wellawatte branch. The DigiZone is intended to be a familiarization centre for customers to get acquainted with digital banking and get hands-on experience with the help of the bank’s Digital Assistants if necessary. It is equipped with WiFi-connected computers and free WiFi for customers’ mobile devices, to enable visitors to experience the bank’s digital apps, register

HNB wins Asian Banker Best Retail Bank award

HNB PLC reaffirmed its dominant leadership position, after being ranked as Best Retail Bank in Sri Lanka for the 14th year at Asian Banker Global Excellence in Retail Financial...

Five governments to curb agriculture’s toxic impacts

The governments of Ecuador, India, Kenya, Laos, the Philippines, Uruguay and Vietnam have come together to launch a US $ 379 million initiative to combat pollution from the use of pesticides....

Backbay commissions 2 solar plants in East

Backbay Solar (Private) Limited commissioned two megawatt (MW) ground-mounted solar power plants in Kommathurai, Batticaloa, recently, which are part of the 1X90 SBS II solar tender under....

Sanasa-PULA introduce index-based agri-insurance solutions

Sanasa General Insurance Co. Ltd and PULA, an agricultural insurance and technology company, recently signed a memorandum of understanding (MoU) that will help strengthen....

Backbay commissions 2 solar plants in East

Backbay Solar (Private) Limited commissioned two megawatt (MW) ground-mounted solar power plants in Kommathurai, Batticaloa, recently, which are part of the 1X90 SBS II solar tender under the Ceylon Electricity Board. Backbay Solar is managed by Sino Lanka Power Gen, a leader in commercial rooftop solar installations, with approximately 50MW of projects completed or undergoing development. Sino Lanka Power Gen meanwhile is a subsidiary of Orbita

Talawakele Tea Estates sets global gold standard in plantation innovation

Talawakele Tea Estates PLC (TTE), a company that stands as one of the jewels in the crown of Sri Lanka’s tea sector, continuously sets the gold standard in employee empowerment....

Five governments to curb agriculture’s toxic impacts

The governments of Ecuador, India, Kenya, Laos, the Philippines, Uruguay and Vietnam have come together to launch a US $ 379 million initiative to combat pollution from the use of pesticides and plastics in agriculture, the United Nations Environment Programme (UNEP) said. Chemicals play a crucial role in farming, with nearly four billion tonnes of pesticides and 12 billion kilogrammes of agricultural plastics used every year. Despite their benef

Korea identifies good agricultural practices for Sri Lanka

The good agricultural practice (GAP) manuals and consulting report developed as part of a project for the modernisation of the plant quarantine system of Sri Lanka, with the Korea International...

Transfer pricing and customs valuation considerations in Sri Lanka

Transfer pricing is a concept that is of increasing importance to businesses, especially those with cross-border intercompany transactions. As international...

Port City Colombo breaks ground for premier business park

The Port City Colombo yesterday had its ground breaking ceremony for its premier business park, the Business Center. Port City Colombo...

Draft legislation to suspend parate rights of banks receives nod

Despite repeated warnings by banks, the Cabinet approved the draft Recovery of Loans By Banks (Special Provisions) (Amended) Act to suspend parate rights of banks until 15th of December...

SL tourism to improve focus on quality of experience, says Harin

As Sri Lanka is looking towards the tourism sector to help improve the current economic condition, Tourism Minister Harin Fernando said active efforts are being rolled out in ensuring the quality....

Spice industry expresses concern over import suspension

The government’s decision to suspend the import of several spices including pepper for re-exports is a major setback for the Sri Lankan spice industry, the Spice Council said. Speaking....

13.03.2024

12.03.2024

Sri Lanka poised to benefit from demand surge for ‘non-China origin’ graphite

Sri Lanka, renowned for its high-quality vein graphite, is poised to benefit from the increasing demand for “non-China origin” graphite driven by the global push towards electromobility and the US Green....

China 2024: Recognizing economic realities amidst Western fiction

Editor’s note: Elias Jabbour, a special commentator on current affairs for CGTN, is an associate professor at the School of Economics at the State University of Rio de Janeiro. The article reflects the author’s opinion, and not necessarily the views of CGTN.

Bankers vow to continue exercising mortgage actions via courts

Sri Lanka’s bankers vow to continue exercising mortgage actions against the defaulted creditors through the courts of law, once the suspension of the parate rights of banks comes into effect

Deflation in producer prices persists through January

The deflationary conditions, which have persisted for many months since around the middle of last year, continued through January, as the prices contended by the producers across the industries have fallen by 3.0 percent from a year ago.

Anantaya Resort and Spa marks 10 years

Anantaya Resort and Spa in Chilaw celebrated its 10th anniversary recently. Reflecting on this milestone, Assistant General Manager, Laugfs Leisure Limited, Musthaq Ahamed, expressed gratitude for a decade of unwavering commitment to delivering authentic Sri Lankan hospitality. “As we celebrate our 10th anniversary, we remain steadfast in our dedication to crafting unforgettable experiences for our guests,” remarked Musthaq. “Anantaya has not o

Intrepid partners with MDF to boost female participation in local tourism

Intrepid Travel is teaming up with Market Development Facility (MDF), an Australian government funded programme that promotes sustainable economic development across diverse sectors, to support female empowerment. The partnership aims to build capacity for female suppliers to become more market ready and create a pipeline for employment as trip leaders. Intrepid currently employs four female trip leaders in a total pool of 30 in Sri Lanka and ha

The Serendipity Experiences launched to elevate luxury travel

In a bid to redefine luxury travel, The Serendipity Experiences (TSE), a bespoke travel curation service dedicated to crafting immersive journeys that capture the essence of the island nation, was launched recently. With a focus on sustainability, cultural exploration, and unparalleled luxury, TSE aims to showcase the diverse landscapes, rich heritage, and warm hospitality of Sri Lanka to discerning travellers worldwide. Speaking on the launch,