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IFS Announces new venture in Colombo Port City, promises 1,000 jobs



Software giant IFS yesterday announced that it is set to launch a new venture in Colombo Port City, a move expected to create an additional 1,000 new employment opportunities.

IFS CEO Mark Moffat made the announcement delivering the keynote address at the DigiEcon Global Investment Summit 2024, underscoring the company’s long-term commitment to Sri Lanka’s economic development.

Moffat outlined the strategic importance of this new initiative. “This project will generate additional thousands of employment opportunities in the years to come,” he added.

IFS CEO underscored the significant contributions of Sri Lanka to the global success of the enterprise application software company. Despite its Swedish origins, IFS has cultivated a robust and impactful presence in Sri Lanka over the past 25 years.

“IFS’s investment in Sri Lanka has been a cornerstone of its global success, contributing to over 20% compound growth annually for the past six years. The company has created over 10,000 employment opportunities in Sri Lanka over the past quarter-century,” he elaborated.

Moffat attributed much of this success to the “exceptional software engineering talent” and the resiliency and agility of the Sri Lankan workforce.

At present, IFS employs nearly 2,700 people in Sri Lanka, accounting for almost 40% of its global workforce. “Sri Lanka has been integral to our operations. Almost 80% of our worldwide product support and over 60% of our research and development capabilities are based here in Colombo,” he pointed out.

Since its inception in Sri Lanka in 1997 with just 26 employees, Moffat said IFS has expanded significantly. “The company has created over 10,000 employment opportunities in the country, fostering a strong local IT community,” he added.

He reiterated IFS’s dedication to collaborating with the Government, industry and academia to foster a knowledge-based economy in Sri Lanka.

Moffat emphasised the company’s commitment to further growth, announcing plans to add an additional 1,000 positions in the next two to three years.

He also noted that beyond business operations, IFS has been actively involved in supporting rural communities in Sri Lanka through the IFS Foundation, which focuses on initiatives in education and healthcare. “Our influence and engagement extend beyond business operations. We’ve been deliberate in building societal ties through various initiatives, supporting rural communities, schools, and hospitals through the IFS Foundation,” he added.

Moffat acknowledged that despite global and local economic challenges, including the pandemic and recent economic difficulties in Sri Lanka, IFS has maintained its commitment to the country.

“The country and its people are a part of IFS and will always be part of the IFS’s DNA,” Moffat affirmed, expressing pride in long-standing and deep-rooted commitment to Sri Lanka’s development and excitement for the future.


(Except for the headline, this story, originally published by has not been edited by SLM staff) 


MP Ali Sabri Raheem released on bail (Update)




Puttalam District MP Ali Sabry Raheem has been granted bail after being produced before the Puttalam Magistrate’s Court today (July 20).

The Puttalam Acting Magistrate has ordered the MP to be released on a surety bail of Rs. 200,000 and also to appear before court on 22 July.

(Previous News on 20th July, 2024 at 11:51am)

MP Ali Sabri arrested

Puttalam District MP Ali Sabri Raheem was arrested by Kalpitiya police earlier today (20). 

The parliamentarian, against whom a warrant had been issued recently, had appeared before the Kalpitiya Police this morning (20), after which he was arrested, police said.

Police said that he will be produced before the court today.

In March, the Puttalam District MP was suspended from Parliament for a period of one month, after a resolution proposing the suspension of Raheem from parliamentary proceedings was approved in the Parliament.

Raheem was embroiled in controversy last year after he was detained at the Bandaranaike International Airport (BIA) in Colombo along with a stock of undeclared gold and mobile phones.

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Teachers and principals to work to rule for two weeks starting Monday




The Teacher-Principal Trade Union Alliance has announced that the work-to-rule campaign will begin for two weeks starting Monday, as previously decided.

The Alliance stated that this action is due to the failure of negotiations held yesterday (19), which included Education Minister Susil Premajayantha, Treasury officials, Public Service Commission officials, and others.

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105 killed in Bangladesh protests; nationwide curfew imposed




At least 105 people have been killed in Bangladesh as police cracked down on unrelenting student-led protests against govt job quotas despite a ban on public gatherings.

The govt has decided to impose a nationwide curfew and deploy the army.

Earlier in the day, telecommunications were disrupted and television news channels went off the air.

Authorities had cut some mobile telephone services the previous day to try to quell the unrest. 

According to reports, police and security officials fired bullets and tear gas at protesters and banned all gatherings in the capital Dhaka. 

The protests, which began weeks ago but escalated sharply this week, represent the biggest challenge to PM Sheikh Hasina since she won a fourth consecutive term in office after the January polls.

The government has deployed police and paramilitary forces across the capital to lock down campuses and break up protests. 

On Wednesday, universities including the country’s largest suspended classes and closed dormitories, and on Friday police in Dhaka said they were banning all gatherings and demonstrations in the capital. 

According to foreign media, border guard officials fired at a crowd of more than 1,000 protesters who had gathered outside the head office of state-run Bangladesh Television, which was attacked on Thursday. 

The border guards shot at the crowd with rifles and sound grenades, while police officers fired tear gas and rubber bullets. Bullets littered the streets, which were also marked by smears of blood. 

Internet services and mobile data were widely disrupted on Thursday night and remained down on Friday in the capital, Dhaka. 

Social media platforms like Facebook and WhatsApp were also not loading. A statement from the Telecommunication Regulatory Commission said they were unable to ensure service after their data center was attacked by demonstrators, who set fire to equipment. 

Student protesters said they will extend their calls to impose a shutdown on Friday, and urged mosques to hold funeral prayers for those who have been killed.

Source: Times Of India

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