AI: Friend or Foe?
The Sunday Times Business Club (STBC) organised an interesting discussion on “Artificial Intelligence AI: Friend or Foe?” held on Tuesday at the Shangri-La hotel with NDB Bank as a sponsor. Seen here are Dr. Hans Wijayasuriya, Chief Advisor to the President on the Digital Economy (speaking), panellists – Prof. Anuradhi S Hapuarachchi, Director of Research [...]
Port City tax breaks spark IMF concerns amid reform promises
In a move that has sparked renewed scrutiny, the Government has granted sweeping tax exemptions to four companies operating under the Colombo Port City project, despite earlier assurances to the International Monetary Fund (IMF) to suspend such incentives until a transparent legislative framework is enacted. Extraordinary gazette notifications 2445/2 through 2445/5, issued by President Anura [...]
From water to Watts SL pumped up for solar power
The Government is exploring the possibility of converting the Victoria reservoir into a hydropower storage facility, designing two new hydro pump facilities in the Central Province, and encouraging independent power producers (IPPs) to install battery storage capacities to combat grid-stability issues. Solar sector officials told The Sunday Times Business that the Victoria reservoir is a [...]
SEC-CSE: Regulators on a royal ride
The integrity of leading capital market institutions is under scrutiny due to misleading information provided by two of their top officials concerning their familial relationship, raising serious alarms about ethical standards and transparency. It was revealed by certain whistleblowers, that Vindya Jayasekera who is designated as the new Chief Executive Officer (CEO) of the Colombo [...]
SL rolls out biometric passport system to Sri Lankan expats
In a major digital transformation of its consular operations, the Sri Lankan government has given the green light to a project to facilitate faster, secure passport delivery to Sri Lankans overseas through the use of biometric technology. The programme will be piloted at 20 missions globally, significantly streamlining the passport application process for members of [...]
Attracting Indian high rollers to a new casino
Sri Lanka is in a unique position to increase the number of tourist arrivals, particularly from India – the country’s strongest source market – if the long awaited nation branding promotion campaign is kick-started, a top corporate chief said this week. “India’s economy is growing at a phenomenal rate and we can benefit from that [...]
Battery energy systems in 16 locations
The Ministry of Power has got Cabinet approval to set up 160 megawatt (MW) battery energy storage systems in 16 identified locations around the country. Ministry officials told The Sunday Times Business that after completion, this system will be integrated with the Ceylon Electricity Board. They also said that the ministry is now preparing the [...]
Multilevel marketing and pyramid schemes
They say a sucker is born every minute! In the Sri Lankan case it must be ‘every second’ given the way people are very quickly sucked into ‘get rich’ schemes particularly through the Internet and WhatsApp where secure pin numbers and bank details are ‘freely’ provided by gullible persons. But today’s column is all about [...]
Drying paddy on roads
Today’s image—paddy drying on a rural motorway in Sri Lanka’s North Central Province—captures a scene all too familiar during harvest season. Whether in the North Western, Eastern, Southern, or North Central provinces, this practice is common-place across paddy-growing regions. Many have witnessed such sights when travelling beyond the Western Province. Yet how often do we [...]
SL Growth on track, but fiscal discipline, reforms essential – CB Chief
Sri Lanka’s economic growth rate currently is adequate to enable the achievement of International Monetary Fund (IMF) debt sustainability levels but would be contingent on tight fiscal discipline and stable development policies, Central Bank (CB) Governor Nandalal Weerasinghe emphasised. Addressing the CB’s fourth monetary policy review press conference on Wednesday, he said that the IMF [...]
Alumex reaches milestone in sustainable manufacturing
Alumex PLC, a Hayleys Group company, has received the prestigious Aluminium Stewardship Initiative (ASI) Performance Standard Certification, becoming the first in Sri Lanka to earn this globally recognised benchmark for sustainable aluminium production. This significant milestone positions Alumex among an exclusive group of manufacturers worldwide that champion best-in-class ethical, environmental, and social governance (ESG) practices [...]
Expo Visa Services receives accolades at SLASSCOM Awards
Expo Visa Services’ mobile application, the EVS App, has been honoured with both National and Provincial titles for Best Innovative Product in Hospitality and Tourism at the SLASSCOM National Ingenuity Awards 2025. “This remarkable achievement is a testament to the vision, dedication, and ingenuity of the company behind the app, committed to transforming how Sri [...]
SL in an ambitious AI strategy for economic expansion
Sri Lanka must make the right decisions on its artificial intelligence strategy to aim for a five-fold growth in its digital economy over the next five years, a top official said. Artificial intelligence (AI) is an essential element of the country’s growth strategy, and when AI is at the epicentre of an economy, it will [...]
Coconut growers in a dilemma
Sri Lanka, often celebrated as the land of the “Tree of Life,” is facing an alarming crisis in one of its most vital agricultural sectors—the coconut industry. While coconut remains an integral part of the nation’s culinary identity and a key export commodity, the growers who sustain this legacy are battling mounting challenges that threaten [...]
SingaCup expands to Sri Lanka
A transformative new chapter in youth football and sports tourism has begun with the successful launch of the SingaCup Football Experience in Dambulla, Sri Lanka. This milestone initiative is the result of a strategic collaboration between Lanka Sportreizen, Sri Lanka’s premier sports tourism and adventure travel company, and Dynamique Konzepts of Singapore—the exclusive organisers of [...]
ALT X launches Kodak SoundBrix on Amazon USA
Altered Experience (ALT X), Sri Lanka’s international award-winning business solutions company, has reached a significant milestone by launching Kodak SoundBrix on Amazon USA, becoming one of the very few Sri Lankan companies to do so for a globally recognised legacy brand such as Kodak. With this successful launch, ALT X continues to reinforce its position [...]
David Pieris Group donates computer lab to Jaffna school
The David Pieris Group, through its Social Welfare Committee, has donated a fully equipped computer laboratory to Myiliddy North Kalaimagal Maha Vidyalayam in Kankasanthurai, a school located in a recently resettled area in the Northern Province. This initiative aims to support the digital learning needs of over 130 students currently attending the school. Many of [...]
HUTCH, USJP strengthen industry-academia ties
HUTCH, as part of the ongoing Future Connect Programme in collaboration with the University of Sri Jayewardenepura (USJP), hosted a group of undergraduate students for a comprehensive industry visit to its Engineering Complex (Data Centre) in Walpola, Ragama recently. During the visit, undergraduates from the Faculty of Computing, USJP were given hands-on exposure to the [...]
SMEs receive Tourism Certification (NSTC) awards
As part of ongoing efforts to promote destinations committed to environmental, social and economic sustainability in Sri Lanka, the Sri Lanka Tourism Development Authority (SLTDA), in partnership with the United Nations Development Programme (UNDP) in Sri Lanka, this week recognised 100 small and medium enterprises (SMEs) under the National Sustainable Tourism Certification (NSTC) scheme. The [...]
David Pieris Group’s seed capital to Northern start-ups
The David Pieris Group, in a milestone celebration of innovation, entrepreneurship and regional empowerment, awarded over Rs. 20 million in seed funding to selected young entrepreneurs at the Thalir Seed Funding Award Ceremony 2025, held recently at the North Gate Hotel in Jaffna. This event marked the next phase of the group’s visionary ‘Thalir’ initiative, [...]
SLIIT among world’s Top 20 Architecture Schools
The Sri Lanka Institute of Information Technology (SLIIT) has been ranked among the Top 20 Architecture Schools in the world and securing the No. 1 position in Sri Lanka in the latest INSPIRELI World Architecture University Ranking. This global recognition is based on student performance in the INSPIRELI Awards, the world’s largest architecture and design [...]
Sri Lanka aiming to attract more MICE traffic
Sri Lanka is aiming to increase its MICE travel segment to 20-25 per cent of the total tourist arrivals from a current 12 per cent through focused promotions and an upcoming MICE fair, Tourism Deputy Minister Prof. Ruwan Ranasinghe said on Wednesday. Speaking at the media briefing to promote the country’s MICE Expo on September [...]
DFCC Bank’s long investment term planner for SMEs
DFCC Bank, as part of its 70th anniversary initiatives, has unveiled a strategic new financial solution aimed at enabling Sri Lanka’s small and medium enterprises (SMEs) to build capital over time and strengthen their long-term financial resilience. The DFCC Business Investment Planner is a fixed-return investment product tailored for registered business entities, designed to support [...]
SriLankan Cargo joins Freightos
SriLankan Cargo, the air freight arm of SriLankan Airlines, has joined WebCargo by Freightos, a leading digital booking and payment platform for international freight. The integration allows over 10,000 freight forwarding offices worldwide to seamlessly access SriLankan Cargo’s capacity, request quotations, make bookings and process payments in real time, the airline said in a media [...]
SL to set sail for sustainability with solar powered ferries
A green energy ferry boat manufacturer has plans to set up a boat manufacturing facility in Sri Lanka. “Sri Lanka has a lot of sun, and we are trying to find the possibility of setting up a solar electric boat manufacturing facility here,” Sandith Thandasherry, CEO, Navalt Solar & Electric Boats, an Indian company, offering [...]
Sri Lanka Pushes Strategic Diplomacy in US Tariff Talks
Sri Lanka is actively pursuing a bilateral trade agreement with the United States, aiming to bolster exports while securing tariff relief for Sri Lankan goods in agreement with President Donald Trump’s recent directive to open local market for US exports. The government’s official negotiating team has adopted a targeted strategy in their ongoing talks with [...]
Promoting tourism for society’s benefit
Sri Lanka must align the increasing number of tourist arrivals with its infrastructure capacity. A shift toward attracting high-value tourists can maximise revenue while minimising pressure on local resources. Although infrastructure development remains a priority, mitigating the environmental and social impacts of tourism—such as ecological degradation and rising living costs—requires proactive regulation and accountability from [...]
ICC unveils Suspended Beam Slab System
In an era where speed, sustainability, and efficiency define the future of construction, International Construction Consortium (Pvt) Limited (ICC), one of Sri Lanka’s most innovative and forward-thinking construction companies, is poised to reshape the nation’s building landscape. The company has unveiled its groundbreaking Suspended Beam Slab (SBS) system, powered by advanced precast slab technology, promising [...]
AHRP Sri Lanka participates in San Diego conference
The Association of Human Resources Professionals – Sri Lanka (AHRP) participated in the prestigious SHRM 25 Annual Conference & Expo held from June 29 to July 2, 2025, at the San Diego Convention Centre. Representing AHRP at this event were AHRP Past President Isuru Tillakawardana, Deputy General Manager Human Resources Management, Commercial Bank of Ceylon [...]
OREL IT secures TIA-942-C Design Certificate
OREL IT, in a ground-breaking development for Sri Lanka’s technology sector, has become the first organisation in the country to receive TIA-942-C Design Certification for its data centre facility in Nawinna, Maharagama The certification confirms the facility meets Tier 3 standards, placing it among the world’s most reliable data infrastructure, the company said in a [...]
Top PR award for young professional
The Chartered Institute of Public Relations (CIPR), the world’s oldest and largest professional body for public relations practitioners, has awarded its prestigious Fellowship (FCIPR) to Thanzyl Thajudeen, Managing Director of Mark and Comm Ltd, a Colombo-based agency that serves a diverse portfolio of clients. The CIPR Fellowship represents the pinnacle of professional recognition within the [...]