Business
People Bank supports Colombo University students’ entrepreneurial development
People’s Bank’s Enterprise Banking Department, which has launched multiple programs with the aim of supporting and development of small and medium enterprises, has initiated “People’s Spark”, a special entrepreneurship development program targeted at graduates. This program offers the opportunity for young graduates to start their own enterprises under guidance from People’s Bank. The bank also provides a special loan scheme and a feedback mechanism for these budding entrepreneurs.
People’s Bank aims to activate this program in association with the University system of the country to encourage graduates toward entrepreneurship.
As part of the initiative, a workshop was organised to study and discuss the practical issues and provide relevant advice on the business plans of the second-year students of the Department of Management and Organization Studies of the Colombo University’s Faculty of Management and Finance. Here the university students who had created business plans to present to investors, shared them with a panel of experts from the Enterprise Banking Department of People’s Bank, and received their advice.
Sujeewa Rajapakse, Chairman of People’s Bank participated in this event, taking time to share his personal entrepreneurial experiences with the university students.
The event was attended by Krishani Narangoda, Deputy General Manager – Enterprise Banking and Wickrama Narayana, Assistant General Manager – Small and Medium Enterprise of the People’s Bank and Prof. B. Nishantha, Prof. R. Senathiraja, and Dr. Tissa Ravindra Perera of Department of Management and Organization Studies of the Colombo University’s Faculty of Management and Finance.
The Enterprise Banking division of People’s Bank works towards entrepreneurial development and is committed to the business and financial development of micro, small and medium businesses as well as commercial and large-scale business.
The Central Bank of Sri Lanka today (07) presented its flagship publication, the Annual Economic Review for 2024 (AER 2024), to President and Minister of Finance, Anura Kumara Disanayake, highlighting the steady progress of Sri Lanka’s economic recovery following the country’s most severe downturn in recent history.
The report was officially handed over by Dr. P. Nandalal Weerasinghe, Governor of the Central Bank, during a special ceremony held at the Presidential Secretariat.
AER 2024 comprises four main chapters: Macroeconomic Developments, Conditions of the Financial System, Review of Central Bank’s Policies and Macroeconomic Outlook.
According to the Review, the Sri Lankan economy showed significant signs of recovery in 2024, following the deep economic crisis experienced two years ago. The recovery trajectory, though challenging, has been notably faster than that of many other debt-distressed countries.
Improvements in economic activity, a partial resurgence in purchasing power and reduced uncertainty are among the key positive indicators noted in the report.
The event was attended by Dr. Nandika Sanath Kumanayake, Secretary to the President, K. M. Mahinda Siriwardena, Secretary to the Treasury, Mrs. K. M. A. N. Daulagala, Senior Deputy Governor, Dr. C. Amarasekara, Assistant Governor, Dr. (Mrs.) S. Jegajeevan, Director of Economic Research and Dr. L. R. C. Pathberiya and Additional Director of Economic Research at the Central Bank Dr. V. D. Wickramarachchi.
[PMD]
Business
IceWarp expands into Sri Lanka, fostering European innovation in collaboration with FentonsIT
IceWarp, a global leader in business communication solutions, has officially launched its cutting-edge platform in Sri Lanka, bringing European expertise in email and collaboration solutions to support the country’s evolving business landscape.
This expansion is driven by a strategic partnership with Fentons Information Technology (FIT), the Information Technology arm of Hayleys Fentons Limited.
The grand launch event held at The Kingsbury Colombo on 4th April, 2025, was graced by several distinguished guests, including Chief Guest Mohan Pandithage, Chairman and Chief Executive of Hayleys PLC.
The presence of Adam Paclt, Global CEO of IceWarp, and Pramod Sharda, CEO for India and the Middle East of IceWarp, along with their global team, highlighted the significance of this expansion. Industry experts, government officials, corporate leaders, and CIOs from the banking, financial services and insurance sectors were in attendance as well, reflecting strong local interest in IceWarp’s European expertise.
With this launch, Sri Lankan businesses now have access to an affordable, scalable and secure alternative to Microsoft 365 and Google Workspace. IceWarp’s advanced Collaboration Suite integrates a wide range of tools into a single, unified platform designed to streamline communication and boost productivity. Offering flexible hybrid deployment options and cost-efficient solution, IceWarp enables organisations to optimise their operations without compromising security or functionality.
Ceylon Energy and HJT China have successfully completed the Mahiyangana-Kappalthurei 33kV power distribution lines and the Uhana Gantry as part of Sri Lanka’s Supporting Electricity Supply Reliability Improvement Project (SESRIP). Funded by the Asian Development Bank ($42 million), SESRIP aims to expand energy access in underserved regions, including conflict-affected areas and provinces like Uva and North Central.
The project’s infrastructure spans over 270 km of 33kV lines, 13 switching gantries, and 2,372 km of low-voltage extensions.
The projects connect 35,000+ households and improve reliability for 493,000+ consumers; integrates renewables to reduce losses.
The projects’ notable components include: Mahiyangana-Bibila Line: 36 km with 147 steel towers and Kappalthurei-Sixth Mile Post Line: 14 km with 58 towers.
Ceylon Energy Chairman Madushanka Fernando hailed it as a ‘new beginning of a brighter era’, emphasising the project’s role in uplifting rural communities and driving sustainable development.
The initiative underscores Sri Lanka’s commitment to inclusive, reliable energy and climate resilience.
INS Sahyadri sets sail from Colombo
Belgian prince loses bid for benefits on top of £300k royal allowance
Advisory for severe lightning issued for Sabaragamuwa, Central and Uva provinces and in Hambanthota district
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