Education sector reforms aimed at securing opportunities at CPC

The decision to bring about changes in the education sector, specifically trimming of the timeframe to complete A-levels from 45 months to 32 months, is to ensure Sri Lanka has the necessary talent ready to take up opportunities at the upcoming financial center at the Colombo Port City (CPC), Justice Minister Ali Sabry said.

Additional compensation for SFSP depositors from tomorrow

The Central Bank of Sri Lanka said the eligible depositors/relevant legal beneficiaries of eligible deposits of Swarnamahal Financial Services PLC (SFSP) that the payment of additional compensation under the Sri Lanka Deposit Insurance and Liquidity Support Scheme will commence from tomorrow (10th) onwards.

Virtusa Chairman and CEO Kris Canekeratne to exit after 25-year stint

Global business consulting and IT outsourcing company, Virtusa Corporation will see its chief Kris Canekeratne pass on the leadership baton to two new heads this summer, ending a 25 year run with the company.

EDB extends financial assistance scheme for SMEs to obtain BRC certification

The Export Development Board (EDB) announced it would implement a financial assistance scheme to help SMEs engaged in the food sector get their products on the shelves of international markets, especially to the UK.

New Country Director reaffirms WFP’s commitment to improving nutrition and food security in SL

The newly-appointed Country Director and Representative of the United Nations World Food Programme (WFP) Sri Lanka, Abdur Rahim Siddiqui, formally presented his letter of credentials to Foreign Minister Dinesh Gunawardena at the Ministry premises.

Local construction sector explores partnership opportunities with Nepal

Exploring avenues to increase foreign exchange earnings, the local construction sector has initiated dialogue with Nepal to connect the industries of the two countries.

SL tourism comes under fresh global spotlight with CNN

Sri Lanka came under fresh global spotlight in the 2Q21 with CNN promoting the country as a safe holiday destination to visit during the ongoing COVID-19 pandemic.

Companies urged to up budget allocation for IT security as WFH continues

As work from home (WFH) arrangements place information systems at high risk, entities are urged to allocate adequate budgets to boost IT security.

Int’l Transactions Reporting System underway to monitor remittances

Sri Lanka will soon see the establishment of a comprehensive cross border and foreign currency transaction monitoring system with the Central Bank (CB) implementing an International Transactions Reporting System (ITRS).

Transportation of goods and passengers contracts by 6.7% in 2020

The transportation of goods and passengers, including warehousing activities, contracted by 6.7 percent in 2020 in value-added terms, in comparison to the growth of 1.4 percent recorded in 2019, the Central Bank (CBSL) said.

ADB in midst of upgrading energy policy for developing member countries

The Asian Development Bank (ADB) announced this week that its energy policy is being upgraded, so that it can better assist its developing member countries to provide clean, green, reliable, adequate and affordable energy for inclusive growth

Series of sustainable finance tools to enter local financial system

The Central Bank of Sri Lanka (CBSL) on Friday asserted that to promote sustainable finance, in line with the roadmap, it intends to initiate an array of suitable instruments after taking into account market developments and needs.

Govt. to promote organic fertilizer production at district level

In an effort to move Sri Lanka towards embracing environment friendly agricultural practices, the government said it will take all the necessary measures to promote organic fertilizer production at district level.

Tourists ask for casinos, Ayurveda, shopping, and steam train travels

As Sri Lanka is exploring multiple options to pull the tourism sector towards normalcy at the earliest, special requests have been received from key source markets, such as Germany and Switzerland in four key areas; casinos, ayurveda treatments, shopping, and steam train travels.

Students in South Asia most impacted from pandemic: ADB

Students in South Asia are most impacted due to closures stemming from the global pandemic and have lost 55 percent of a year in learning since COVID-19 struck.

SL’s GDP projected to rebound amid vaccination: ADB

The Asian Development Bank’s (ADB) flagship annual economic publication, the Asian Development Outlook (ADO) 2021, forecasts a significant rebound in Sri Lanka’s economy as domestic and global economic activity strengthens and vaccination campaigns gather momentum domestically and abroad.

Over 30,000 Lankans acquire digital skills during COVID-19: Microsoft

US-based technology behemoth Microsoft said it helped over 30 million people in 249 countries and territories gain access to digital skills during the COVID-19 pandemic, of which over 30,000 of them are from Sri Lanka.

Litro assures availability of 12.5 Kg has cylinder

Sri Lanka’s largest LP gas importer and supplier, Litro Gas Lanka announced a short while ago that a decision has been reached to ensure 12.5 Kg gas cylinders will be made available without a shortage.

Historic agreement signed to implement Sri Lanka Transit Card

In a groundbreaking move towards revolutionizing the transport sector, the Ministry of Transport and the Central Bank played lead roles to get the key stakeholders to sign a four-party agreement to introduce Sri Lanka Transit Card (SLTC) recently.

CSE approves IPO of Prime Land Residencies

The Colombo Stock Exchange (CSE) has approved, an application submitted by Prime Lands Residencies Limited, for the listing of its Ordinary Voting Shares by way of an offer for subscription.

SriLankan Airlines launches flights to Nairobi

SriLankan has commenced flight operations to Nairobi in Kenya, its second destination in East Africa after flying to the Seychelles, a media communiqué by the national carrier said.

Emirates to increase services to Colombo to 7 flights a week

Emirates has announced it will increase its services to Colombo from six to seven flights a week, with the seventh weekly flight commencing 3rd May. The additional service will serve rising market demand and enhance connectivity to and from Colombo via Dubai.

Rupee dips to Rs. 200.90 against US dollar

The Sri Lankan rupee lost its heft further today ending a short-lived appreciation phase, as the selling rate of the US dollar was recorded at Rs.200.90, up from yesterday’s Rs.195.25.

Fashion designers say cost of production up due to import restrictions

Fashion designers are struggling to keep up with the fast-changing trends in the country, as challenges in sourcing raw materials has led to a slowdown in reacting to the market demand.

ComBank’s ATM network sets new records for cash dispensed this Avurudu

The automated teller machine (ATM) network of Commercial Bank of Ceylon dispensed a record Rs.8.818 billion on 9th and 10th April 2021, shattering the previous records for the highest and second highest cash disbursements for a 24-hour period, as Sri Lanka’s leading private bank facilitated the celebration of the Sinhala and Tamil New Year.

RPCs urge estate worker vaccination to be given priority

The Planters’ Association of Ceylon (PA) today called on government and Public health officials to ensure that estate sector workers made a top priority in the COVID-19 vaccination drive, given their essential contributions to the national economy.

Global freight charges hike to remain in short-term: Fitch

The ongoing hike in global freight rates is expected to remain in the short-term, although a tapering is expected to in the long term as supply chain disruption clears out, Fitch Ratings said.

Rupee sheds gains against dollar

The Sri Lankan Rupee today depreciated to Rs. 195.25 against the US dollar from yesterday’s recovery of Rs. 191.97.

Home-grown blockchain start-up secures angel financing

Home-grown blockchain service start-up, Niftron, has been successful in raising Rs. 10 million in the latest round of funding from The Angel Fund of the Lankan Angel Network (LAN), Sri Lanka’s largest network of angel investors.

UL brings down Indian delegation on familiarisation tour

In an effort to recommence tourist arrivals from India under the bio-bubble concept, Sri Lanka has recently welcomed a delegation from the neighbouring giant for a familiarisation tour of the island nation.