Effective taxation and combating corruption

Jean-Baptiste Colbert, who served as the French Minister of Finance under King Louis XIV, once said, “The art of taxation consists in so plucking the goose as to obtain the largest possible amount of feathers with the smallest possible amount of hissing.”

Proposed 13% primary expenditure rule for Sri Lanka departs from economic theory and practice

On May 22, 2024, the government of Sri Lanka gazetted the Public Financial Management (PFM) Bill, aiming to implement wide-ranging reforms to enhance transparency, accountability and control of public funds.

SL economy outperforms in 1Q, but uncertainty looms due to elections: ADB

Sri Lanka’s economy outperformed expectations in the first quarter, but the outlook for the rest of the year and beyond remains uncertain, according to the Asian Development Bank (ADB).

LIOC kicks off June earnings season with robust performance

Kicking off the June quarter earnings season, Lanka IOC PLC reported some solid top and bottom-line performance for the three months, riding on the ongoing recovery in the broader economy which requires, literally more fuel to help accelerate.

Sri Lanka fastest in South Asia in embracing digital payments: Visa

Sri Lanka has emerged as the fastest in South Asia in embracing digital payments, a global giant in digital payments said. The post-pandemic behaviour among Sri Lankans has shown a notable shift, with a growth of at least 20 percent in digital transactions since 2019, particularly among debit card holders according to officials of the Visa Corporation. “Sri Lanka is clearly one of our fastest-growing markets in South Asia. We see a strong recov

Aitken Spence in midst of shifting operations towards low-emission economy

Aitken Spence PLC, a leading blue-chip conglomerate, said that while it is looking to continue to invest in growth industries, it would continue to do so by taking into account the importance of climate change-related risks and opportunities faced as a company and a country.

Foreign buying continues

The ASPI closed in red as a result of price losses in counters such as Melstacorp, Sri Lanka Telecom and National Development Bank with the turnover crossing Rs. 1.1 bn.

Market moves into 4th consecutive session of buying interest

The secondary market moved into the fourth consecutive session of increased buying interest. The belly end of the yield curve centered buying interest amongst maturities between 2026 to 2028, while the long end of the curve remained steady. Among the traded maturities, short term tenors 01.02.26 traded at a rate of 10.15%.

Vigneshwaran re-elected as Tiles Importers’ Association President

The Tiles and Sanitaryware Importers’ Association of Sri Lanka, at its Annual General Meeting (AGM) recently, re-elected D. Vigneshwaran for a second term as President

SPARK 2024 Entrepreneurship competition opens entries

The SPARK Skilled Youth Entrepreneurship Competition, a national competitive platform designed to inspire and empower aspiring young entrepreneurs across the nation, has commenced accepting applications from youth aged 15-30 years, for its 2024 edition.

Unilever wins Gold at ISGSD 2024 Industry Awards

Unilever Sri Lanka, a renowned leader in sustainable business practices, secured the coveted Gold award in the Clean Energy for Productive Uses category, at the inaugural International Symposium on Green Industry Initiative for Sustainable Industrial Development (ISGSD 2024).

NDB Bank shines at AIA Bancassurance Achievers Awards

NDB Bank announced the remarkable achievements of its staff at the prestigious AIA Bancassurance Achievers Awards 2023.

Sri Lanka Citizens’ Co-operative Bank opens corporate branch on Castle Street

Sri Lanka Citizens’ Co-operative Bank Chairman Chamika Weerasinghe formally declared open the bank’s corporate branch at No. 176, Castle Street, Colombo 8, a few days ago.

23rd SLIM Brand Excellence Awards embrace ‘Excellence in Human Intelligence’

The 23rd iteration of the SLIM Brand Excellence Awards, themed ‘Excellence in Human Intelligence’ has been launched.

Sri Lanka’s minimum wage hike: Will it help the poor?

In March 2024, the Cabinet approved a 40 percent increase in the national minimum wage level to support the low-income earners who have fallen into poverty due to the economic crisis. Can this pay hike truly help the poor and reduce inequalities in the future? An important question at the moment.

SLT-Mobitel offers tailor-made connectivity solutions for Uber

SLT-Mobitel, the national ICT solutions provider and Sri Lanka’s most-loved ride hailing and food delivery app Uber, have come together to offer tailor-made, value-added connectivity solutions for merchants, couriers and drivers registered on Uber’s platform in Sri Lanka.

Sanasa Ahead programme held in Kegalle

Another event under the concept of Sanasa Ahead was successfully held at the main hall of Sanasa University, Paragammana, Kegalle.

Seylan Cards and Cinnamon Hotels host ‘Gathering of Giants’

Seylan Bank reaffirmed its dedication to supporting efforts at developing tourism and wildlife conservation, through its exclusive partnership with Cinnamon Hotels & Resorts.

SLIC General and RDB partner for bancassurance

Sri Lanka Insurance Corporation General Limited (SLICGL) has entered into a strategic bancassurance partnership with the Regional Development Bank (RDB), the leading financial institution dedicated to development finance, to ensure greater accessibility and convenience for customers seeking comprehensive insurance coverage.

Growth with Goodness: Adani accomplishments with sun, sea and wind

On miles and miles of barren marshy land, in the Gujarat state of India, bordering Pakistan, the Earth’s largest renewable energy park is being developed.

ACCA Approved Employer Programme

In today’s fast-paced and competitive business world, employers are increasingly recognising the importance of investing in their workforce’s professional growth and development. This not only enhances employee performance but also contributes to the overall success and growth of the organisation. The ACCA (Association of Chartered Certified Accountants) Approved Employer Programme is a prestigious initiative that acknowledges employers who uphol

Data privacy – Vital currency for business?

Data privacy has transformed the global business landscape in the past five years, largely due to the implementation of the General Data Protection Regulation (GDPR) by the European Union (EU). The heightened demand for data privacy and its importance have led to the enactment of Personal Data Protection Act No.09 of 2022 (PDPA) in Sri Lanka.

Cultivating culinary delicacies

Mushroom cultivators in Sri Lanka are grappling with production challenges amid rising demand...

Adding value to SRI LANKA’s ever-evolving healthcare landscape: Hemas Healthcare

In a landscape where healthcare challenges are ever-evolving, Hemas Healthcare has emerged as a pillar of innovation and quality in Sri Lanka.

Sri Lanka sees launch of Strategic Trade Forum

The U.S. Embassy in Colombo, in partnership with the Sri Lanka Department of Import and Export Control, launched the first Sri Lanka Strategic Trade Forum recently.

Will wind power projects mortgage our future?

Saudi Arabia aims to utilise her vast arid lands to harvest renewable energy resources and to increase her share of renewables to around 50 percent by the year 2030. This is similar to Sri Lanka’s stated goal of 70 percent renewable energy usage by 2030. However, sadly this is where the similarity ends.

Forbes Magazine recognises Heritance Aarah as Best Beachfront Resort for families

Heritance Aarah, nestled in Raa Atoll of the Maldives, has been honoured with an important accolade by the Forbes Magazine as the Best Beachfront All-Inclusive Resort for Families in 2024. This is t

National Bartenders Competition concludes on a high note

The 29th National Bartenders Competition 2024 concluded with a spectacular Grand Finale on June 14th at the Cinnamon Grand, Colombo.

Ceylon Eco Friendly Products gets patent rights to recycle shredded currency

Ceylon Eco Friendly Products (Pvt.),which came up with an innovative project to recycle shredded currency, had got clearance from international patent rights bodies and is now slated to start up an international level business.

Study highlights strategies to curb Beedi and Smokeless Tobacco consumption in SL

Despite a notable reduction in formal cigarette consumption, the use of informal cigarettes such as beedi cigars remains a significant concern in Sri Lanka.Continued beedi consumption, especially among the poor, demands sustained efforts and innovative approaches to control tobacco use. A new publication by the Institute of Policy Studies of Sri Lanka (IPS) titled “Strategies to Curb Beedi and Smokeless T