World Bank-funded fertiliser
The first shipment of Urea fertiliser imported through World Bank funds arrived at the Colombo Port on Friday and unloaded onto lorries. Each 50 kg bag would cost Rs.10,000 to the farmer. Pic by Indika Handuwala
Plantations diversify to brand Sri Lankan coffee
The aroma of a cup of coffee is stirring a new brand for Sri Lanka’s plantations that are now diversifying into cultivating the cocoa seeds that once ruled the estates. With the increasing popularity among millennial to consume coffee as opposed to tea, the world is drinking more of this beverage and Sri Lanka is [...]
Start-ups await ‘proper’ share swap legislation to raise capital
The Council for Start-ups (CFS) is awaiting a positive response from state authorities to a proposal to allow local start-ups to incorporate holding companies in Singapore specifically to raise capital. Current restrictions on raising capital have stalled the start-up ecosystem already affected by the current economic crunch. This can be done by share swaps which [...]
SL plans to overcome food crisis
Sri Lanka is attempting to overcome its food crisis by maintaining prices at current levels while ensuring that fertiliser reaches farmers on time and insisting that all households carry out some form of cultivation wherever possible. As part of the national food security plan, authorities have come up with a number of bodies established at [...]
Fuel imports, storage for foreign /private suppliers
Sri Lanka’s Power and Energy Ministry has devised a new system of providing fee-based on-shore storage facilities owned by the state to fuel importers, with the fuel sold to the state as and when required. The aim is to prevent the delay in clearing oil shipments at the port for several weeks due to the [...]
Solar industry outraged over intended tariff
The intended price revision for rooftop solar tariff will further push away investments in this sector, solar industry officials say. Cabinet approval was granted to revise rooftop solar tariff rates replacing the current two-tier tariff rate of Rs. 22 and Rs. 15.50 to a flat rate of Rs. 37 for less than 500KW and Rs. [...]
Tea: Changing times!!
More than a decade ago, during a visit to the plantations, I was impressed by the front-office operation at a tea factory; workers were smartly dressed and conditions to ensure cleanliness and quality manufacture were maintained, enhancing the dignity of labour. Over the years, amidst accusations of exploitative labour, which industry officials vociferously deny, the [...]
Bitter truth in bitter times
The editorial of the Sunday Times last week noted that “…the Inland Revenue Department has only 292,305 active income tax files when the number should be in the millions for a population of over 22 million”. In other words, this means that there are millions of people who should pay income taxes but who have [...]
Sri Lanka’s economic development would be set back for years: IPS
While Sri Lanka’s real per capita GDP stood close to Rs. 60,000 in 2021, this could decline to below Rs. 50,000 in the years 2023 and 2024. As global inflation has reached its highest point, other countries will be scrambling ahead of Sri Lanka as the country’s real per capita GDP keeps declining. This was [...]
Lifebuoy partners with Sri Lanka Scout Association to advocate good hand hygiene
As part of its continuous commitment to inculcate long-lasting hygiene behaviours amongst communities, Unilever Sri Lanka’s flagship hygiene soap brand, Lifebuoy, commemorated Global Handwashing Day in partnership with the Sri Lanka Scouts Association to reiterate the importance of handwashing amongst the children at the 13th National Cuboree 2022 held at S. Thomas’ College, Mount Lavinia. [...]
ComBank conducts entrepreneurship development programme for VTA students in A’pura
A group of 125 students following various vocational training courses in Anuradhapura, recently benefitted from an entrepreneurship development programme conducted by the Commercial Bank of Ceylon, under the banner of its ‘Dirishakthi Sustainable Entrepreneurships Development’ initiatives. The bank organised this event in collaboration with the Vocational Training Authority (VTA) in Anuradhapura to impart knowledge on [...]
Most imported ceramics are rejected goods, says SL Ceramics and Glass Council Chief
The Ministry of Industries has seen four ministers in the last two years but it hasn’t been able to deploy long term consistent policies for the ceramics and glassware industry. Sri Lanka needs to have stable policies, if not people will not invest in buying locally manufactured products, says Sri Lanka Ceramics and Glass Council, [...]
Bringing a smile on the face of tourists
Tourism used to be one of the fastest-growing economic sectors in the world before the COVID-19 pandemic. With the lessons learned and precautions taken tourism is again becoming a key driver in global socio-economic progress. Sri Lanka to its pride was known by tourists as the Granary of the East and Pearl of the Indian [...]
Asia poised to generate half of the world’s GDP by 2050
While technology and the start-up ecosystem is driving the world with innovative products and services, Asia is poised to generate half of the world’s GDP by 2050 and account for more than half of all research and development (R&D) investments by 2030. These comments were made by Sook Hoon Cheah, General Manager of Southeast Asia [...]
Cargills FoodCity opens its 500th outlet
Home-grown Sri Lankan brand, Cargills FoodCity, achieved another milestone on Wednesday with the opening of its 500th retail outlet while also marking its 39th anniversary – since opening the first outlet in 1983. The latest outlet was opened in Akuregoda, Battaramulla. The outlet are present in all 25 districts. Cargills was the first company from [...]
Ceylon Chamber hails passing of 21st Amendment
The Ceylon Chamber of Commerce (CCC) on Tuesday welcomed the passing of the 21st amendment with an overwhelming majority in Parliament last week. “While all measures proposed by the Chamber along with other likeminded professional bodies and civil society organisations may not be addressed by this amendment, it nevertheless considers this as a step in [...]
USAID supports Sri Lanka’s First Energy Modelling programmes
The Sri Lanka Energy Programme, funded by the United States Agency for International Development (USAID), partnered with the Sri Lanka Sustainable Energy Authority to conduct a series of training sessions for professionals in building construction and operation, including government and private sector, on applying the Energy Efficiency Building Code (EEBC). The EEBC provides criteria to [...]
Govt. owes billions of rupees to construction contractors
Sri Lankan government construction contractors numbering around 3000 are in an urgent need of funding for their survival as they have to recover Rs. 150 billion outstanding payment for the work completed in public construction projects including buildings and infrastructure facilities. This has resulted in widespread unemployment at present due to closing down of small [...]
Sri Lanka Insurance launches ‘School Fee Protector’
Sri Lanka Insurance (SLIC) has launched a ‘School Fee Protector’ Life Insurance plan to ensure an uninterrupted education for children studying in private and international schools. The SLIC ‘School Fee Protector’ has been introduced after recognising competitive lifestyles and the significant financial responsibilities of the communities in Sri Lanka. SLIC said in a media release [...]