BIZ

Resignations at SLT as Board overhaul begins

Published

1 year ago

January 31, 2024

nipuni

Sri Lanka Telecom (SLT) yesterday saw its Board members resign after President RanilWickremesinghe directed the Treasury Secretary last week to reconstitute the Board with immediate effect.

SLT PLC yesterday disclosed to the Colombo Stock Exchange (CSE) that Chairman and Independent Non-Executive Director Reyaz Mihular tendered his resignation with effect from 29 January 2024.

The five other Directors also tendered their resignation, a separate filing to the CSE said.The Directors are Rohan Fernando (former SLT Chairman holding 120,000 shares), Lalith Seneviratne, Ranjith Rubasinghe, Mohan Weerakoon, and Treasury representative K.A. Vimalenthirarajh (holding 1,300 shares).

The former SLT Chairman Fernando also stepped down as Chairman from SLT Subsidiary eChanneling PLC.

On Friday (26 January), Secretary to President Saman Ekanayake, under the directive of President Wickremesinghe, announced the appointment of a new set of Board of Directors to SLT.
The new members are; K.D.D.D. Arandara – Chairman, Dr. K.A.S. Keeragala – Member, Attorney-at-Law Dinesh Vidanapathirana – Member, Prof. K.M. Liyanage – Member, Dr. D.M.I.S. Dassanayake – Member and Chathura Mohottigedara – Treasury Representative.

As reported by our sister paper the Daily FT, reconstitution is due to the government being irked with SLT-Mobitel challenging in Court the proposed merger between telco giant Dialog Axiata and Airtel.

(dailymirror.lk)

BIZ

Over 18,000MT of salt imported to address shortage

Published

3 days ago

June 13, 2025

editor

Sri Lanka has imported 18,163 MT of salt between May 22 and June 07, according to Customs.

The total cost of these imports amounted to approximately Rs.1,291 million, with Rs.720 million paid as taxes.

The imports are part of efforts to address the ongoing salt shortage, with a total target of 30,000 MT to be brought into the country.

BIZ

CBSL advises banks to further assist affected SMEs

Published

4 days ago

June 12, 2025

editor

The Central Bank of Sri Lanka (CBSL), with a view to facilitating sustainable revival of businesses that were adversely affected during the recent past has advised the licensed commercial banks and licensed specialised banks (hereinafter referred to as licensed banks) to provide further concessions to those SME borrowers who commenced discussions for business revival with the respective banks by 31.03.2025.

These relief measures are in line with Circular No. 04 of 2024 dated 19.12.2024 on Relief Measures to Assist the affected SMEs and the Addendum Circular No. 01 of 2025 dated 01.01.2025.

Accordingly, licensed banks have been advised to provide further concessions including interest reliefs and new lending to affected borrowers while the timeline given to the licensed banks in Circular No. 04 of 2024 to enter into reschedulement agreements with eligible SME borrowers has been extended from 15.06.2025 to 30.06.2025.

press_20250612_relief_measures_to_assist_the_affected_small_and_medium_enterprises_e Download

BIZ

Qantas to close budget airline Jetstar Asia

Published

5 days ago

June 11, 2025

editor

Singapore-based budget airline Jetstar Asia will close down at the end of July, its Australian owner Qantas has announced.

The low-cost carrier has struggled with rising supplier costs, high airport fees and increased competition from other airlines in the region.

Qantas says the closure will provide it with A$500m ($325.9m; £241.4m) to invest towards renewing its fleet of aircraft, adding that it will redeploy 13 planes for routes across Australia and New Zealand.

The closure of Jetstar Asia will not impact its Australia-based Jetstar Airways operations, nor those of Jetstar Japan, according to a statement from Qantas.

“We have seen some of Jetstar Asia’s supplier costs increase by up to 200 per cent, which has materially changed its cost base,” said Qantas Group Chief Executive Vanessa Hudson in the statement.

The discount airline, which has operated flights for over 20 years, is set to make a A$35m loss this financial year.

(BBC News)