Central Expressway project cost increases due to irregularities
The Committee on Public Enterprises (COPE) has come across glaring irregularities in the execution of the Central Expressway project particularly because of construction delays, lack of proper procurement and feasibility studies. This has resulted in extra cost of construction running up to billions of rupees giving undue benefits for some contractors and several foreign and [...]
Govt. moves WCT outside tender procedures
Eyebrows were raised over the tender procedures practised and processes adopted in assigning the West Container Terminal (WCT) by the government to the Adani Group and John Keells Holdings (JKH). The Attorney General’s Department has raised a number of concerns regarding the development of the Colombo South Port in Sri Lanka – WCT and this [...]
City hotels opt out of the bubble
City hotels in Colombo continue to cater to locals for business and not foreign visitors due to the bubble concept that is in place for tourists. At present there are only two Level 1 hotels in Colombo, City Hotels Association President M. Shanthikumar told the Business Times on Tuesday pointing out that most of the [...]
CB gathers info on firm promoting NYSE stocks
It’s no secret that Sri Lanka is more than susceptible to questionable financial transactions, schemes and downright financial scams. While authorities are warning investors to be more vigilant against online scams and fraud with the rise in digital transactions in the country, many are raising concerns on rupees leaving Sri Lanka – digitally, no less. [...]
Labour Minister criticises EFC
Labour Minister Nimal Siripala de Silva on Thursday had criticised the Employer’s Federation of Ceylon (EFC) over the court case filed by plantation companies and others objecting to the Rs. 1000 daily wage for plantation workers. The criticism at a meeting of the National Labour Advisory Council (NLAC) was levelled at the EFC as it [...]
Changing of the times…
It was a glorious Thursday morning with another column waiting to be written. So what is the topic? Earlier in the morning, I was woken up to a telephone call and the tuneful melody of Aldoris, the choon- paan karaya’s tuk-tuk accompanied by barking from the neighbourhood dogs, keen to follow the vehicle along the [...]
Road to Lahore for the Wills World Cup
This week, many Sri Lankans remembered the 25th anniversary of winning the Wills Cricket World Cup by the Sri Lankan cricket team on March 17, 1996. The winning match was played against Australia at the Gaddafi stadium in Lahore, Pakistan. It was attended by over 60,000 cricket fans, mostly from Pakistan, who cheered for a [...]
Sri Lanka’s tea industry urged to speak with ‘one voice’
Veterans of Sri Lanka’s tea industry on Wednesday urged various sections of the industry to come together on a joint platform of work, action and policy-making as tea is facing one of its strongest challenges while it marks 150 years of Ceylon Tea. Making the first call, Anslem Perera, founder and Managing Director of Mlesna [...]
PROVIDORE: Bringing grocery-tech to Sri Lanka
Up until the onset of COVID-19, Sri Lanka’s online retail market was relatively small in comparison to the region. Lockdown advanced the adoption of online retail channels and saw the proliferation of a variety of online vendors, ranging from WhatsApp and Facebook groups to websites and platforms. However, there were and still exist many challenges [...]
Ban on vehicle imports from Japan not a good move, says Japanese Ambassador
Restoring traditional exports such as apparel and agriculture products by diversifying exports provides new business opportunities to Sri Lanka. There are good opportunities available to Sri Lanka to export electronic devices and software to Japan, said Japanese Ambassador to Sri Lanka Akira Sugiyama at a webinar on “After the pandemic: The way ahead”. It was [...]
Lengthy judicial process delays recovery of massive tax arrears
The recovery of tax arrears running up to billions of rupees has been delayed due to the lengthy judicial process in the country, Inland Revenue Department officials said at a recent meeting of the Parliamentary Committee on Public Accounts (COPA). The Committee directed the Inland Revenue Department to expedite the recovery of arrears of taxes [...]
“Ubiquitous public officials -Grama Niladari Piyasa”
I read with interest Kussi Amma Sera’s recent column on Grama Seva Niladaris (GSN). Assigning a GSN to a particular village is a well-established administrative norm and accordingly the GSN was expected to physically establish his office within the administrative boundary of the village to which he was appointed and liaise his/her official work by [...]
New ombudsman likely to address grievances of bank borrowers
The appointment of a new ombudsman is being considered along with necessary legal protection to be provided for borrowers experiencing default situations in the repayment of loans obtained from banks due to financial difficulties in the COVID-19 pandemic period. The Government will appoint a new ombudsman or provide more powers to the present financial ombudsman [...]
Soft opening of iconic Altair heralds its near completion
ALTAIR, the internationally acclaimed architectural icon, is nearing completion. This breathtaking edifice which has transformed the perception of Colombo from being a dreamy South Asian back water to a pulsating cosmopolitan metropolis is the brainchild of the living legend Moshe Safdie, creator of Marina Bay Sands and the Jewel in Singapore, Tel Aviv’s Holocast Museum, [...]
Sri Lankan-born Creately lauded by top software reviewer
Sri Lanka’s own Creately was recently tapped as a top five contender in the List of Best ANZ Sellers for 2021 by industry benchmark site G2. Additionally, G2 also tapped Creately as a Leader in the Diagramming segment. The world’s largest software marketplace and review platform, G2.com features over 100,000 reviews and over five million [...]
Trade unions to join hands with desperate finance companies’ depositors to demand justice
Trade unions are to join hands with distressed depositors of failed finance companies to take their plight to the people in an impending warning to the government to resolve these issues before it becomes a country-wide issue. Ceylon Mercantile Union (CMU) General Secretary Sylvester Jayakody made this call while speaking to the Business Times on [...]
Global tea in challenging times
The global tea industry had faced one of the most challenging times in their history last year but had been able to produce some of the best quality teas both in India and Sri Lanka. During a webinar dialogue on tea on the topic “Restart Asian Economies: Ideas and Actions for the tea industry” hosted [...]
CEB felicitates innovators
Recently the annual innovation award ceremony of the Ceylon Electricity Board (CEB) was held at the BMICH with the participation of Power Minister Dallas Alahapperuma and officials of the CEB. At this event, Mr. Chathuranga Wickramasinghe (seen in the picture) won the best innovator award (silver category). He has invented an Image-Based Insulator Condition Monitoring [...]
SL performs first-ever simultaneous bilateral cochlear nucleus freedom series implant at state hospital
Marking a milestone in hearing healthcare, the first ever simultaneous bilateral cochlear nucleus freedom series implant surgery was successfully performed at the Sri Jayewardenepura General Hospital recently. The team of doctors led by Dr. Sanjeewani Rupasinghe, Consultant ENT Surgeon of the Sri Jayewardenepura General hospital, performed the surgery on a 2 ½ year old child, [...]
Pestalotiopsis leaf disease threatens rubber plantations in Sri Lanka
Pestalotiopsis leaf disease is a new threat to the rubber plantation industry of the whole world. This leaf fall caused by the fungal pathogen pestalotiopsis has now become a grave threat to the sustainability of the rubber plantation industry in Sri Lanka, the Colombo Rubber Traders’ Association (CRTA) said in a media statement this week. [...]
Compensation to depositors of failed finance companies increased
The Monetary Board of the Central Bank of Sri Lanka (CB) has decided to increase the maximum compensation payment under SLDILSS from Rs.600,000 to Rs.1,100,000, by Rs.500,000. This decision has been taken to provide further relief to the depositors of financial institutions regulated by CB in the event of a cancellation or suspension of the [...]
Growing concerns by local corrugated carton industry over skyrocketing paper prices
Sri Lanka’s corrugated carton industry is under pressure and facing unprecedented challenges as the global prices of all types of papers continue to skyrocket since October last year. Many corrugated and brown box manufacturers here are going through the toughest situation in the industry’s history and fears grow as it’s the longest period as well [...]
HUTCH demonstrates fastest 5G experience in Sri Lanka
HUTCH recently demonstrated the fastest 5G speed ever achieved by a Sri Lankan telecom operator in its inaugural 5G trial event at HUTCH One Galle Face Premier Experience Centre held recently. HUTCH teamed up with ZTE, a global leader in telecommunications and information technology for this groundbreaking 5G trial which included several demonstrations and use [...]
Vaccinated tourists to undergo two PCR tests
The Sri Lanka Association of Inbound Tour Operators (SLAITO) and ‘One Voice’ association believe that a second PCR test on a fully vaccinated tourist was not practical following the new health regulations issued by the Health Ministry on Thursday. “We are seeking clarifications because some of the conditions mentioned in the new health regulations for [...]
Land bank created for investors in agriculture development
The Government is rushing to set up a land bank for state-owned lands in an effort to attract investment for modern agriculture development and assist farmers to expand their cultivations. This decision was taken at the agriculture subcommittee of the Presidential task force on economic revival and poverty eradication, the Agriculture Ministry said. A new [...]
Accelerating legal cooperation along the Belt and Road for ‘Green Recovery’
The Belt and Road Initiative (BRI) is poised to play a green, inclusive and transformative role in the post-COVID-19 global recovery process in line with the UN 2030 Agenda for Sustainable Development. To this end, the Green Development Guidance for BRI Projects Baseline Study Report has been released on 01.12.2020 by the Belt and Road [...]
Fumio Otani appointed chairman of MAC Holdings Pvt Ltd
Japan’s Fumio Otani has been appointed as the new Chairman of the Board at MAC Holdings Pvt Ltd. He will take over this role, from the incumbent Chairman / Managing Director, Andre Fernando who will be relinquishing his chairmanship and taking over as Managing Director of the group. “I’m honoured to be named as Chairman [...]
Central Bank provides relief to owners of passenger transport
The Central Bank (CB) has requested banks, financial and leasing institutions to provide concessionary leasing facilities to individuals and businesses involved in passenger transport. In a media release on Monday, the CB requested lending and leasing institutions to provide concessions for lease facilities obtained by such businesses and individuals for six months or a shorter [...]