Covering the latest developments in the business world, including mergers and acquisitions, new product launches, executive changes, and company earnings reports.
Sri Lanka’s booming IT industry faces a growing challenge: the safe disposal of electronic waste, or e-waste. This hazardous material, if not managed responsibly, poses a significant threat to both public health and the environment. Fortunately, companies like Cleantech (Pvt) Ltd. are emerging as leaders in tackling this issue. Cleantech has established itself as a
Sri Lanka’s FitsAir, a budget-friendly airline, is expanding its reach with the launch of direct flights between Colombo and Dhaka, Bangladesh. This new route, starting April 16, 2024, signifies a major development in regional aviation, catering to the growing demand for affordable travel options between the two countries. The decision to establish this connection stems
Sri Lanka is taking a significant leap towards a more sustainable future with the launch of a groundbreaking project called “Charge While You Shop.” This initiative, a collaboration between Cargills, a Sri Lankan retail giant, and the United States Agency for International Development (USAID), aims to make renewable energy more accessible to electric vehicle (EV)
Sri Lankan frontrunner HNB PLC, a leading private bank, has joined forces with the International Construction Consortium (Pvt) Ltd (ICC) to provide exclusive financial solutions for potential homeowners in ICC’s newest development, “The Residencies Kotte.” This partnership, solidified through a signed Memorandum of Understanding (MoU), aims to streamline the homeownership journey for aspiring residents. The
ASUS Sri Lanka recently made a splash with the launch of a new lineup of laptops designed to cater to both productivity-focused users and hardcore gamers. The event, held at the Shangri-La Colombo, showcased three key devices: the Zenbook 14 OLED (UX3405), the Zenbook DUO (2024), and the 2024 ROG Strix series. For those seeking
Zoral, a leading global AI software company specializing in the banking and finance industry, has announced a strategic partnership with LinearSix, a Sri Lankan digital transformation force in fintech. This collaboration marks a significant step for both companies, aiming for aggressive expansion into the Asia-Pacific (APAC) and Middle East and North Africa (MENA) regions. The
Dr. Cornelius Boersch, a seasoned investor with three decades of experience in frontier markets, brings his expertise to Sri Lanka. Having identified similar dynamics across various developing economies, Dr. Boersch, or “Dr. Conny” as he’s known, first visited Sri Lanka in October 2021. Through Mountain Lion Ventures, alongside partners Asad Sultan and Love Yadav, he
An Austrian company, 365 Future Energy based in Brisbane, is looking to invest USD 80 million in Sri Lanka’s first solar energy park. This ambitious project, planned for Mattala Hambantota, will also boast a backup storage facility, a significant step forward for the nation’s energy landscape. Isuru Yapa, CEO & Director of 365 Future Energy,
Hayleys Solar, a subsidiary of Hayleys Fentons, the renewable energy arm of Sri Lanka’s leading conglomerate Hayleys Group, has achieved a remarkable milestone: installing a staggering 200MWp rooftop solar PV capacity in the country. This accomplishment signifies a giant leap towards Sri Lanka’s sustainable energy goals and positions Hayleys Solar as the undisputed leader in
Xiteb Pvt Ltd, a Sri Lankan web and mobile software company with over a decade of experience, has launched xCommerz, an e-commerce solution designed to empower businesses. xCommerz targets both traditional retailers looking to establish an online presence and existing online stores seeking to enhance their operations. The goal? A digital transformation that revolutionizes businesses