Hayleys assures re-exportation of used mattresses stored at its free zone

While strongly denying that Hayleys had imported environmentally hazardous materials into the country, the firm assured that it is working together with the Board of Investment (BOI) and Central Environmental Authority (CEA) to re-export the used mattresses stored at its free zone.

Biz chambers told not to be selective in their advocacy

An influential minister in the current dispensation last week expressed displeasure over the inconsistent and selective advocacy of chambers led by the Ceylon Chamber of Commerce (CCC), instead of playing a crucial role in pushing forward the much needed economic policy reforms. “You (CCC) have a va

Careers mobile app launched

Careers mobile app, a free mobile app which is a first-of-its-kind in Sri Lanka, was launched by CareerMe at the CA Auditorium this week. The career guidance mobile app aims to make it easier for students across the country to get career guidance at the touch of a fingertip.

SL to strike oil-for-tea barter deal with Iran

Sri Lanka is planning to export tea to Iran under a barter system from this September onwards at least for the next two years, as the U.S. sanctions on Iran disrupt Sri Lankan tea exports to that c

May trade gap narrows; imports continue to fall

The trade deficit in the month of May narrowed significantly on the combined effect of the continued decline in imports and increase in exports, the data released by the Central Bank showed, yesterday.

Investor interest wanes in Chalmers Granaries project

The second attempt in two years to attract investors to develop the nine-acre Chalmers Granaries land opposite the Fort railway station as a mixed development project has proven unsuccessful as investor interest had waned following Easter Sunday bomb attacks, Mirror Business learns.

LOLC Finance share sale boosts bourse

A sale of shares of LOLC Finance PLC (LOFC) to a subsidiary incorporated overseas boosted the Colombo Stock Exchange yesterday, which allowed the bourse to report a turnover of over Rs.9 billion for the first time thi

Export-oriented manufacturing the way forward for Sri Lanka

Diversified and export-oriented manufacturing is the way forward for Sri Lanka to develop as a nation, as no country has ever advanced without export-oriented manufacturing, world renowned Lankan

Shares rise for fourth session; rupee edges lower

COLOMBO (Reuters) - Sri Lankan shares rose for the fourth straight session yesterday to a more than 12-week closing high, a day after the central bank kept its key policy rates steady. The Central Bank left key interest rates unchanged on Thursday as expected, after cutting them in May to support the economy as tourism and investment plummeted in the wake of deadly suicide bombings

Group of tourists at the Independence Square, Colombo 07

The picture shows a group of tourists at the Independence Square, Colombo 07 yesterday. Tourist arrivals almost doubled in June over May as the industry which generated US $ 4.4 billion for Sri Lanka’s economy last year moves to recovery after the deadly Easter Sunday terrorist attacks on April 21. Sri Lanka welcomed 1.16 million tourists in the first half of this year. Tourism authorities last week said they were expecting to end this year with

Facebook ups investments to curb hate speech in SL

Facebook has significantly increased its investments to ramp up Sinhala and Tamil language expertise targeting to curb hate speech and other harmful contents originating from Sri Lanka on the social media platform.

Adamjee Lukmanjee invests Rs.48mn in pepper cleaning facility

Adamjee Lukmanjee (Pvt.) Ltd, a subsidiary of Adamjee Lukmanjee Group of Companies established in 1865, recently launched the company’s pepper cleaning facility, at its premises on Grandpass Road, Colombo 14.

Japanese firm to set up US $ 8.4mn boutique hotel in Ahungalla

Wakana JPN (Pvt) Ltd. a Japanese firm which already operates two hotels in Sri Lanka’s southern coastal strip, is to invest US $ 8.4 million for a new boutique hotel in Ahungalla. The 21-roomed property will be designed by famous Japanese architect Kengo Kuma and every aspect of the hotel from the design of the building, to the furniture, internal décor and cuisine, are to be optimized according to the traditions of both Sri Lanka and Japan. Waka

Govt. reduces charges at BIA to boost tourism

The Cabinet approval has been received to reduce the ground handling charges, aviation fuel and embarkation levy at Bandaranaike International Airport (BIA) for a period of six months, to expedite the recovery of the tourism sector in the aftermath of the Easter Sunday attacks. The Cabinet pape

Agriculture processing mega zone in Uhana

Prime Minister Ranil Wickremesinghe laid the foundation for an agriculture processing mega zone in Uhana, Ampara yesterday. Primary Industries and Social Empowerment Minister Daya Gamag

Tel Aviv takes ride to scooter ‘paradise’

Men use their phones to connect to the electric scooter mobile app while standing on a sidewalk of a street in the Israeli coastal town of Tel Aviv. Israelis in the country’s economic capital Tel Aviv have embraced electric scooters and their smart-phone rental systems, using them to zip along Mediterranean beaches and avoid heavy traffic in a city where the Jewish Sabbath prevents public transport on weekends. (AFP)

Govt.’s mega projects lift investor sentiment

The launching of mega infrastructure projects and improved tourist arrivals in the month of June compared to May in the aftermath of the April 21 Easter Sunday attacks lifted the spirits of the Colombo Stock Exchange (CSE) yesterday, sending the indices significantly upwards.

Tourist arrivals on the rise signalling recovery

The tourist arrivals to Sri Lanka in June almost doubled from a month ago after the April 21 Easter Sunday carnage, although the arrivals were over 50 percent down from a year ago, the data released by the country’s tourism office showed.

Tourism on path to recovery

Tourist arrivals which plunged to nominal levels following the Easter Sunday attacks on April 21 are now slowly recovering. The picture shows a tourist feeding an elephant in Uda Walawe. Sri Lanka earned US $ 4.4 billion from tourism in 2018, and was targeting US $ 5 billion earnings this year. Pic by Pradeep Pathirana

TUI pledges support for SL’s tourism industry revival

Sebastian Ebel, a member of the Executive Board of TUI AG, responsible for destination experiences, hotels and resorts, cruises and group purchasing, met with Tourism Minister John Amaratunga recently, to pledge support to get the industry back on track and also to do joint destination promotions with the Sri Lanka Tourism Promotion Bureau. The minister thanked the giant travel and tourism operator for the long-standing support for Sri Lanka.

Hans tells private sector to lead economic resurgence

As Sri Lanka strives to progress to the next level while grappling with the current turmoil that has caused a major setback, urgent is the need to catalyze a wave of economic resurgence that will place the country on par with its regional peers in terms of competitiveness, according to the newly elected Ceylon Chamber of Commerce Chairman Dr. Hans Wijayasuriya. Dr.Wijay

Shares post first monthly gain in 2019; rupee gains

REUTERS - Sri Lankan shares ended firmer at a more than one-week high yesterday buoyed by gains in beverage stocks, posting their first monthly gain this year, while the rupee edged up on dollar sales as month-end i

GSP Plus at stake if death penalty reinstated: Mangala

Finance Minister Mangala Samaraweera yesterday expressed concerns over the possibility of the European Union (EU) pulling out the GSP Plus concessionary scheme given to Sri Lanka as the country moves to re

PwC highlights nexus between property and road development in Sri Lanka

Post-war Sri Lanka has seen a dramatic revival to its infrastructure growth. Over the past decade, high-rises, new cities and modern road networks have become an increasingly common sight, not just in the commercial capital of Colombo but throughout the country.

SLASSCOM to develop national AI policy in six months

The Sri Lanka Association of Software and Service Companies (SLASSCOM) plans to develop a national Artificial Intelligence (AI) policy for Sri Lanka, in six months, partnering with the public and private sector stakeholders.

Malaysia awaits green light from Sri Lanka to commence FTA talks

Malaysia is awaiting the green light from Sri Lankan counterparts to officially commence negotiations on the proposed Free Trade Agreement (FTA) between the two countries. “We have already completed a feasibility study on th

Sri Lanka launches own national card scheme

The Central Bank of Sri Lanka together with LankaClear (Pvt.) Ltd (LCPL) achieved a significant milestone in the country’s payment landscape by launching the National Card Scheme (NCS). The NCS will be operated by LCPL in partnership with the international payment card operator, JCB International of Ja

Colombo Dockyard delivers first cable-laying vessel

Colombo Dockyard PLC delivered its first ever cable-laying vessel ‘KDDI Cable Infinity’ last Friday, built for Kokusai Cable Ship Co. Ltd. (KCS) of Japan. The picture shows KDDI Cable Infinity at Colombo Port before setting sail for Japan on Saturday (22nd). Read the full story on Page 5.

Sri Lanka’s premier travel and tourism fair opens

The ninth edition of Sancharaka Udawa, Sri Lanka’s premier travel and tourism fair was inaugurated yesterday at the BMICH, Colombo. This two-day fair will be open to the

Moody’s paints gloomy outlook for economy following Easter attacks

Moody’s Investors Service said the economic fallout from the Easter attacks runs deeper than portrayed, as the April 21 carnage has sent tremors across multiple key sectors from fiscal to the external sector, prompting the rating agency to slash its growth projections for the Sri Lankan economy.