BoC
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Bank of Ceylon to Issue Rs. 15 Billion in Debentures Soon
Initial issue valued at Rs. 10 billion, with option to extend amid high demand

ByEditor

The Bank of Ceylon (BoC) has announced plans to issue 100 million debentures valued at Rs. 100 each, totaling Rs. 10 billion. The bank also intends to issue an additional 50 million debentures worth Rs. 5 billion if there is high investor demand, bringing the potential total to Rs. 15 billion. Fitch Ratings has assigned…

Parate law of Sri Lanka
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Parate Law Reinstated in Sri Lanka:
A Looming Threat to Small and Medium Enterprises

ByEditor

The reimplementation of the controversial Parate Execution Law in Sri Lanka has sparked renewed debate across the business and legal sectors. The law, under the Recovery of Loans by Banks (Special Provisions) Act No. 4 of 1990, allows licensed commercial banks to auction properties mortgaged against loans without judicial proceedings if borrowers fail to settle…

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India and China Battle for Dominance in Sri Lanka’s Vehicle Market
Tata, Maruti Suzuki, Mahendra, BAIC Micro, BYD etc.

ByEditor

Sri Lanka’s automobile market has become a focal point for competition between Indian and Chinese automobile manufacturers, each striving to establish a strong presence in this strategically located island nation. ​ Indian Automotive Influence Indian automobile manufacturers have a longstanding relationship with Sri Lanka, historically dominating sectors such as motorcycles and three-wheelers (tuk-tuks). Prior to 2020,…

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A woman in male-dominated funeral directing
Sepalika Nilmini of Deyyandara

ByEditor

Sri Lanka’s funeral directing industry is traditionally male-dominated, with very few women engaged in the profession. However, a woman from Deyyandara in the Southern Province has broken this norm by managing a funeral parlor and handling all funeral services, including preparing and embalming bodies. Ranawaka Sepalika Nilmini took over the family-owned Deyyandara Mal Shalawa (funeral…

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Is a property tax on the way?
A progressive tax levied by many states

ByEditor

At a press conference regarding the third review of Sri Lanka’s Extended Fund Facility from the International Monetary Fund (IMF), Sri Lanka Representative Peter Brewer highlighted the need for a property tax to ensure long-term economic stability. A property tax is a progressive tax imposed on the wealth of property owners, commonly practiced in many…

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Is CEB discouraging roof-top solar power?
Will the unit price be further reduced?

ByEditor

The Ceylon Electricity Board (CEB) is reportedly working to discourage solar power supplied to the national grid from rooftop solar panels, aiming to limit the amount of solar power acquired. Currently, the CEB pays Rs. 27 per unit for up to 500 kilowatts of roof-top solar energy supplied to the grid and Rs. 23 per…

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Sri Lankan Resorts Break Gender Barriers in Tourism Industry
Amba Yaalu and Uga Ulagalla

ByEditor

Sri Lanka’s tourism sector, traditionally dominated by men, is witnessing a start of transformative shift as women assume leadership and operational roles in a few key resorts, challenging entrenched gender norms. Despite comprising 52% of the population, women represent only about 10% of the 200,000-strong workforce in the hospitality industry.​ Two pioneering resorts—Amba Yaalu and…

russeel Dilrukshi Priyadarshani from Athungama
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Women’s Participation in Sri Lanka’s Hospitality Industry Remains Below 10%, Says Uga Ulagalla Resort Manager

Bydaily reporter

Colombo: Women’s participation in Sri Lanka’s tourism and hospitality industry remains below 10%, according to Russell Clements, the General Manager of Public and Cultural Relations at Uga Ulagalla Resort. Clements highlighted that parental concerns about safety and the challenges of sustaining a career in the hospitality sector discourage many young women from entering the field. ““Parents’…

un Director of the Global Operations Division at the UN Office of the High Commissioner for Human Rights
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Sri Lanka Urged to Revive Civic Space by Lifting Unnecessary Regulations

Bydaily reporter

Maarit Kohonen Sheriff, Director of the Global Operations Division at the UN Office of the High Commissioner for Human Rights, has called on the Sri Lankan government to lift unnecessary regulations and restrictions on civil society and independent media to revive civic space. Speaking at the 58th Session of the Human Rights Council, Sheriff emphasized…