http://www.sundaytimes.lk Official website of the Sunday Times Newspaper in Sri Lanka Sat, 15 Jun 2019 18:58:53 +0000 en hourly 1 http://wordpress.org/?v=3.3.2 http://www.sundaytimes.lk/190616/business-times/return-of-the-tourists-353232.html 14 June 2019 @ 9:16 pm [caption id="attachment_353233" align="aligncenter" width="600" caption="A group of tourists take pictures of roadside fruits in Galle as the tourism sector struggles to recover from the Easter Sunday bombing which saw a sharp drop in arrivals. Pic by Gamini Mahadura"][/caption]... http://www.sundaytimes.lk/190616/business-times/loss-making-stockbrokers-may-not-last-six-months-353229.html 14 June 2019 @ 9:14 pm With the Colombo Stock Exchange (CSE) indices at historic lows, certain stockbroking houses will have to close shop in the next six months, market analysts say. This is because the brokers’ commissions are not enough to segregate between 24 stockbrokers and on top of that the low money circulation has put them in a spot. Analysts noted that broking houses with strong parent companies... http://www.sundaytimes.lk/190616/business-times/lankas-rs-1-trillion-revenue-collection-target-a-distant-dream-353226.html 14 June 2019 @ 9:07 pm Sri Lanka’s revenue collection target of Rs.1 trillion by 2019/2020 through the expansion of the tax payer base in the country, while adjusting indirect and direct tax has become a distant dream owing to weak tax administration at present, official forecast revealed. In a damning exposure, the Auditor General’s Department disclosed that as a result of non-issuance of assessment report... http://www.sundaytimes.lk/190616/business-times/iconic-salu-sala-shut-on-maithripalas-orders-353223.html 14 June 2019 @ 9:06 pm Sri Lanka’s state owned handloom textile wholesale and retail giant in the 1960s, Lanka Salu Sala is no more with the President's latest decision to close down the iconic institution. He has directed the Industries and Commerce Ministry Secretary to release the company’s Jawatta branch land belonging to it to the Police Department and ordered its closure as it has become a white elephant to... http://www.sundaytimes.lk/190616/business-times/industry-reps-removed-from-key-tea-promo-committee-353220.html 14 June 2019 @ 9:03 pm With the Sri Lanka tea industry just months away from launching its much-awaited global promotional campaign in September, a number of stakeholder representatives have been removed from the Promotion and Marketing Committee (PMC) said to be due to certain “structural changes” required by authorities. Plantations Minister Navin Dissanayake on June 7 had informed the respective stakehol... http://www.sundaytimes.lk/190616/business-times/stbc-discusses-tourism-crisis-353217.html 14 June 2019 @ 9:01 pm Challenges in tourism in the aftermath of the Easter Sunday carnage will be the theme of this month’s topic at the Sunday Times Business Club. The discussion will be held on June 25 at the Kingsbury Hotel, Colombo which is the club’s host hotel.The three speakers for the event are Ms. Shiromal Cooray - Chairperson of Jetwing Hotels, Dileep Mudadeniya, Head of Brand Marketing - Cinnamon Hote... http://www.sundaytimes.lk/190616/business-times/theatrics-in-the-kussiya-353213.html 14 June 2019 @ 8:56 pm In the past two to three years, various characters have sprung to life in this column, discussing the vagaries of the weather, gossip in the village, political happenings to – last but not least – the health of the economy and business developments. Through conversations with these individuals, the column has brought to the fore the issues confronting the nation, its economic health and the w... http://www.sundaytimes.lk/190616/business-times/lament-of-the-middle-class-353208.html 14 June 2019 @ 8:55 pm [caption id="attachment_353209" align="alignright" width="500" caption="File picture of an aggrieved depositor of the failed Golden Key company goes through his papers outside the Supreme Court during the numerous cases against the company. It was the middle class that had placed deposits in this company to get a higher return."][/caption] Recently, I received a phone call from a friend who... http://www.sundaytimes.lk/190616/business-times/ditching-the-cruelty-and-cholesterol-353203.html 14 June 2019 @ 8:49 pm [caption id="attachment_353204" align="alignright" width="400" caption="The couple behind soul food"][/caption] It’s comforting that many are dumping the clichéd lists of vegan-myths such as being malnourished, long-haired, or a flower child. Now veganism is increasingly turning into one of the trendiest diets around the world and it has caught on in Colombo. So Soul Food, owned by ... http://www.sundaytimes.lk/190616/business-times/sampath-bank-signs-mou-with-rajarata-university-for-rd-353200.html 14 June 2019 @ 8:46 pm Sampath Bank, taking yet another momentous step towards supporting youth pursuing tertiary education, signed a Memorandum of Understanding (MOU) with the Faculty of Management Studies of the Rajarata University of Sri Lanka. Sampath Bank’s partnership with Rajarata University aims to promote the faculty’s research and development as well as training aspects pertaining to the subjects of bankin... http://www.sundaytimes.lk/190616/business-times/community-service-projects-by-ceylon-biscuits-gathers-momentum-353197.html 14 June 2019 @ 8:45 pm Galenbindunuwewa, a remote area in North Central Sri Lanka, in the Anuradhapura district, home to a community of about 120 families, was the most recent beneficiary of the ‘Munchee Samaga Gamata Sarana’ community programme designed to uplift the living standards of our rural people. Munchee, the flagship brand of Ceylon Biscuits Ltd (CBL), has been reaching out across the country to reach t... http://www.sundaytimes.lk/190616/business-times/three-sri-lankan-start-ups-at-global-entrepreneurship-summit-ges-netherlands-353193.html 14 June 2019 @ 8:44 pm [caption id="attachment_353194" align="alignright" width="350" caption="From left -- Lahiru Pathmalal, Charitha Abeyratne and Dinusha Kornkaduwa"][/caption] 1,200 investors and entrepreneurs from across the world attended the Global Entrepreneurship Summit (GES) that took place from June 3-6 at The Hague, Netherlands. Takas.lk, Busbookings.lk and Saaraketha were among the Sri Lankan companie... http://www.sundaytimes.lk/190616/business-times/fuss-over-colombo-port-east-container-terminal-353190.html 14 June 2019 @ 8:40 pm The East Container Terminal (ECT) of the Colombo Port has been brought into attention by the politicians in the Parliament in the recent past stating that it has been sold to Japan and India. But the governing side has denied that charge. What is ECT? The Colombo Port has been in operation for over 130 years after protecting the water area by the South West breakwater. Systematic gradual ... http://www.sundaytimes.lk/190616/business-times/financial-sector-slow-to-grant-state-tourism-relief-353187.html 14 June 2019 @ 8:38 pm With only four banks making good progress on the relief package granted by the government to the tourism industry, some at the peripherals seem to have been left out in the process even as other financial institutions are yet to fall in line. During a media briefing in Colombo on Thursday, Economic Reforms and Public Distribution Minister Dr. Harsha De Silva stated that they have already ... http://www.sundaytimes.lk/190616/business-times/national-digital-roadmap-launched-in-colombo-353184.html 14 June 2019 @ 8:37 pm Advancement in new digital technology has forced many businesses to re-think their business modules in order to survive as Sri Lanka strives to become a digital hub in South Asia, said Priyantha Fernandez the Chief Operating Officer and the Chief Technology Officer of  Sri Lanka Telecom. Speaking at the launch of the National Digital Roadmap organised by the Sri Lanka Telecom (SLT) at th... http://www.sundaytimes.lk/190616/business-times/echannelling-introduces-sri-lankas-first-ai-based-chatbot-353181.html 14 June 2019 @ 8:33 pm eChannelling, the largest doctor channelling network in Sri Lanka, has launched the Chatbot for the first time in Sri Lanka’s healthcare industry. To provide this convenient method to its customers, eChannelling has joined hands with Autochatic, creators of the world's only no-coding, context-aware multilingual Chatbot building platform. Autochatic is headquartered in Paris and has operations in... http://www.sundaytimes.lk/190616/business-times/how-risky-is-your-risk-management-353177.html 14 June 2019 @ 8:31 pm “Risk comes from not knowing what you are doing,” says Warren Buffet. That’s why we need the right grasp and the right guidance to be in the know before acting. A seasoned enterprise risk advisor will not only tell you how to avoid risks, but also tell you how to take risks, calculated or uncalculated, expected or unexpected - based on situational and holistically pragmatic platforms - an... http://www.sundaytimes.lk/190616/business-times/global-union-fears-counter-terrorism-act-will-affect-tu-rights-353174.html 14 June 2019 @ 8:26 pm IndustriALL Global Union, a global trade union, has urged the UN High Commissioner for Human Rights to intervene in an issue in Sri Lanka which threatens the rights of trade unions. The letter has been sent by Valter Sanches, IndustriALL General Secretary to Mona Rishmawi, Chief of the Rule of Law Section of the UN Human Rights Commissioner’s Office. “Our affiliated unions in Sri Lanka h... http://www.sundaytimes.lk/190616/business-times/247-access-to-free-doctor-consultations-from-odoc-for-aia-policyholders-353171.html 14 June 2019 @ 8:25 pm AIA Insurance Lanka, a leader in pensions, life and health insurance, has partnered, Sri Lanka’s leading telemedicine provider, oDoc, to deliver unlimited doctor consultations to AIA policyholders and their family members. A first in the insurance industry in Sri Lanka, this service, made available through the oDoc app, gives select AIA Insurance customers ready access to Sri Lankan doctors over... http://www.sundaytimes.lk/190616/business-times/shangri-la-hotel-reopens-on-wednesday-353168.html 14 June 2019 @ 8:24 pm Shangri-La Hotel, Colombo, badly damaged by the Easter Sunday April 21 attacks, reopened on Wednesday, June 12. The hotel, one out of three that were attacked in Colombo, was closed for repairs after the blast which killed guests and others. The Cinnamon Grand and the Kingsbury, also attacked by Islamic extremist bombs, were re-opened a few days after the blasts. “The Shangri-La Group is g... http://www.sundaytimes.lk/190616/business-times/the-veranda-offices-starts-weaving-creative-magic-in-colombo-2-353165.html 14 June 2019 @ 8:23 pm Sri Lanka’s stunning The Veranda Offices, an innovative Colombo 2 mixed use office space that stands out with its eye-catching gridded façade based on local weaving patterns, is currently nearing completion. This one-of-a-kind project is spearheaded by Moot Manor Ltd (M2M), with office space currently on display to prospective tenants, the company said in a media release. Rising up eight flo... http://www.sundaytimes.lk/190616/business-times/sri-lankas-amal-ratnayake-fcma-cgma-elected-as-86th-cima-president-353161.html 14 June 2019 @ 8:22 pm [caption id="attachment_353162" align="alignright" width="150" caption="Mr. Amal Ratnayake - New CIMA Global President"][/caption] Canadian finance leader, Sri Lankan-born Amal Ratnayake FCMA, CGMA has been named 86th President of the Chartered Institute of Management Accountants (CIMA), the highest volunteer post of the world’s leading professional body for management accountants. In May,... http://www.sundaytimes.lk/190616/business-times/intellectual-property-office-expedites-the-issuance-of-patent-and-trade-marks-353158.html 14 June 2019 @ 8:18 pm Sri Lanka’s National Intellectual Property Office (NIPO) is working tirelessly with limited resources to clear the backlog of all pending applications for registration of patents and trademarks over the next 18 months. The easing of the procedures for appraisal/grant of intellectual property rights (IPRs), has resulted in a quicker disposal of applications and reduced the backlog substa... http://www.sundaytimes.lk/190616/business-times/vendol-lanka-builds-ayurvedic-primary-health-care-units-at-grass-root-level-353154.html 14 June 2019 @ 8:16 pm [caption id="attachment_353155" align="alignright" width="500" caption="Minister Sajith Premadasa and Vendol Chairman Dr. L.P. Godakanda laying the foundation stone."][/caption] Ayurvedic primary health care units are to be set up in rural areas with the aim of addressing the emerging health challenges with the increasing of aged population in the country. Vendol Lanka Company (Pvt) in assoc... http://www.sundaytimes.lk/190616/business-times/nsb-helpage-partnership-benefits-less-privileged-senior-citizens-353151.html 14 June 2019 @ 8:14 pm The National Savings Bank (NSB) conducted its 45th Mobile Medical and Eye Camp in collaboration with HelpAge Sri Lanka at Dampe, Piliyandala on Vesak Full Moon Poya Day. This is another step taken by NSB through its CSR  initiative to conduct a free Medical and Eye Camp for less privileged senior citizens. In a media release, HelpAge said that NSB has conducted 45 camps during the period co... http://www.sundaytimes.lk/190616/business-times/hambantota-international-port-show-cased-at-top-exhibition-in-munich-353148.html 14 June 2019 @ 8:12 pm Hambantota International Port (HIP), was a key participant at ‘Transport Logistics 2019’, the world’s premier transport and logistics exhibition held in Munich, Germany last week. The port which is the newest addition to the international maritime map was an important feature at the prestigious exposition of international logistical services which had 2,374 exhibitors and around 64,000 visit... http://www.sundaytimes.lk/190616/business-times/stax-inc-insights-as-a-service-iaas-helps-businesses-improve-decision-making-353145.html 14 June 2019 @ 8:11 pm Stax Inc., Sri Lanka's leading management consulting firm, helps both local and international clients to make better sense of their internal data with its Insights-as-a-service (IAAS), resulting in greater profitability, growth and employee engagement. As more companies become data-savvy and use data-driven approaches to make important decisions, companies that proactively adopt Insights-as-a-serv... http://www.sundaytimes.lk/190616/business-times/sri-lanka-foreign-employment-agency-pvt-ltd-loses-steam-353142.html 14 June 2019 @ 8:10 pm Sri Lanka’s only state-owned manpower recruiting entity, the Foreign Employment Agency (Pvt) Ltd is losing its market share owing to management weakness and lack of dynamism in the face of high competition from mushrooming  job agencies. Around 1,000 foreign employment agencies are functioning countrywide forcing stiff completion to the state agency but only 350 have registered with the Asso... http://www.sundaytimes.lk/190616/business-times/efl-launches-exclusive-charter-to-pittsburgh-us-353139.html 14 June 2019 @ 8:06 pm Global logistics provider EFL recently launched an exclusive weekly charter to Pittsburgh, US as part of its continuous efforts to develop innovative solutions for global brands. The inaugural shipment of over 90 tonnes was moved on a Boeing 777 freighter operated by Qatar Airways Cargo from Doha to Pittsburgh International Airport in Moon, Pennsylvania. EFL’s expertise in designing fit-for-p... http://www.sundaytimes.lk/190616/business-times/hnb-iccsl-launch-exclusive-co-branded-corporate-credit-cards-353136.html 14 June 2019 @ 8:06 pm HNB PLC has announced the launch of co-branded corporate credit cards in partnership with the International Chamber of Commerce Sri Lanka (ICCSL). The new co-branded corporate credit card will be made available to all ICCSL members and bundled with a slew of exclusive discounts, offers, and promotions. The launch was commemorated with a special ceremony attended by top officials from ICCSL and ...