Covering the latest developments in the business world, including mergers and acquisitions, new product launches, executive changes, and company earnings reports.
Omega Line Limited received the prestigious title of ‘Most Outstanding Exporter – Merchandise’ during the inaugural awards ceremony commemorating BOI Sri Lanka’s 45th anniversary on April 2. The award, presented by President Ranil Wickremesinghe, recognizes Omega Line’s pivotal role as a leading apparel exporter in the country. The company’s CEO/Managing Director Felix A. Fernando and
According to the latest Sri Lankan business community survey conducted by the London-based Research Intelligence Unit (RIUNIT), there is cautious optimism within the business sector regarding the potential role of India and China in offsetting the global decline in foreign direct investment (FDI). This sentiment aligns with forecasts from international development agencies, which anticipate Asia,
The Pathfinder Foundation (PF), in collaboration with the Centre for Humanitarian Dialogue of Switzerland (CFHD), is set to co-host the fourth annual Bay of Bengal Maritime Dialogue in Colombo on May 7 and 8. The event is expected to gather approximately 50 delegates from BIMSTEC and IORA member states, including Indonesia and Malaysia. The dialogue
Women in Management (WIM) is set to launch WIM Global Membership, a new initiative aimed at fostering global connectivity and empowering individuals from diverse backgrounds. Starting January 1, 2025, this program will offer women and men worldwide opportunities to network, collaborate, and participate in the global economy. Simultaneously, WIM will commence operations for its USA
Airport & Aviation Services Sri Lanka Private Ltd has announced the awarding of a Rs. 852 million project to upgrade the departure baggage makeup facility at Bandaranaike International Airport (BIA) to MSN Engineering (Pvt) Limited, a leading professional and ISO-certified baggage service provider in Sri Lanka. The project is part of the company’s ongoing efforts
CHEC Port City Colombo (Pvt) Ltd has taken a significant step towards attracting export-oriented businesses to Port City Colombo by partnering with the Sri Lanka Export Development Board (EDB). A memorandum of understanding (MoU) was recently signed between the Chairman of EDB, Dr. Kingsley Bernard, and the Managing Director of CHEC Port City Colombo (Pvt)
President Ranil Wickremesinghe recently reiterated the government’s strong commitment to boosting the agricultural sector’s contribution to Sri Lanka’s economic growth. He emphasized ongoing programs aimed at promoting cinnamon cultivation, a historically significant export crop for the country, as part of the broader agricultural modernization agenda. These remarks came during his attendance at the launching ceremony
The Ceylon Chamber of Commerce has announced the inaugural Sri Lanka Climate Summit 2024, with the theme “Code Red: Climate Risks and Opportunities for Sri Lankan Businesses.” Scheduled from 7 to 9 May at the Shangri-La Hotel in Colombo, this summit aims to foster a national dialogue on the imminent risks of climate change and
In a significant development for international dispute resolution, the Bangladesh International Arbitration Centre (BIAC) and the Sri Lanka National Arbitration Centre (SLNAC) have strengthened their collaboration by signing a Memorandum of Understanding (MoU). The MoU, signed by BIAC Vice Chairman Muhammad A. (Rumee) Ali and SLNAC Chief Executive Seedantha Kulatilake, marks a step towards enhancing
Maharaja Foods Ltd. has appointed Imran Furkan and Melanga Doolwala as Non-Executive Independent Directors, marking a strategic move in the company’s leadership. Founded by the late visionary entrepreneur Sivasaraman Guganathan from Velani, Jaffna, Maharaja Food Products has been operational since 1995. The company focuses on sourcing premium-quality food items like rice, potatoes, onions, and lentils,