Business News

Outdated Labour Laws Are Holding Sri Lanka Back

Published

3 months ago

September 2, 2025

Sri Lanka likes to pitch itself as a rising hub for investment. The workforce is educated, the location is strategic, and the appetite for growth is clear. Yet one thing continues to hold the country back: labour laws written for another era.Take the Shop and Office Employees Act. Drafted in a manufacturing age, it still dictates how today’s service and technology industries operate. One of its most telling restrictions is the rule that bars women from working after 6 p.m. In a global economy where flexible hours and digital work are standard practice, this regulation is not only outdated but damaging.

Investors are already paying attention. In EconomyNext: (Arj-Samarakoon), Arj Samarakoon, head of Plus94 Fund, warned that rigid rules on hours and overtime are discouraging companies from choosing Sri Lanka. For a country eager to position itself as a regional technology hub, that is a serious disadvantage.

The impact goes beyond investment. Outdated laws also block women from entering or advancing in high growth sectors such as ICT, logistics and advanced manufacturing. Speaking at a recent labour reform forum, Arj Samarakoon made the point clear: “Removing barriers to women’s participation is not only about equality, it is about giving Sri Lanka the competitive edge it needs to grow.” His comments, reported in Sri Lanka Mirror – Right to Know. Power to Change/Arj-Samarakoon, highlight a truth that is often overlooked. Empowering women is not charity, it is strategy.

The solution is straightforward. Worker protections must remain, but labour laws should be modernised to support flexible and competitive work arrangements. Other countries in South and Southeast Asia are already moving in this direction. If Sri Lanka delays, the opportunities will simply move elsewhere.

Business News

Commonwealth Enterprise and Investment Council expresses solidarity with Sri Lanka

Published

4 days ago

December 2, 2025

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The Commonwealth Enterprise and Investment Council (CWEIC) has conveyed its condolences to Sri Lanka over the loss of life and extensive damage caused by Cyclone Ditwah, urging all Commonwealth nations to support the country’s recovery as the scale of devastation continues to unfold.

In a statement signed by CWEIC Chairman Lord Marland and Deputy Chairman Lord Swire, the council said: On behalf of the Commonwealth Enterprise and Investment Council, we extend our sincere condolences to the President and people of Sri Lanka for the tragic loss of life and the widespread destruction caused by Cyclone Ditwah.

With the death toll now exceeding 300, hundreds more people missing, and thousands left without homes or livelihoods, the impact on your nation is devastating, and affecting all parts of the country.

As Commonwealth friends, we acknowledge the suffering that Sri Lanka has already endured through natural disasters; floods, droughts, landslides, and the 2004 tsunami.

Sri Lanka has survived through the extraordinary efforts of countless volunteers and ordinary people. Once again, we see this remarkable resilience and cooperation from Sri Lankans who are working to restore order, basic services, and supplies where possible.

We appeal to all Commonwealth countries to support the recovery efforts, and we will keep Sri Lanka in our thoughts and prayers at this difficult time. CWEIC has a significant presence in Sri Lanka, and our Strategic Partners stand ready to assist in any way we can during this difficult time. We will continue to support international efforts and appeal to Commonwealth nations to contribute to Sri Lanka’s recovery.

Business News

DFCC to buy retail business of Standard Chartered Bank Sri Lanka for Rs3.7bn

Published

3 weeks ago

November 14, 2025

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DFCC Bank said it has reached a deal to buy the retail and wealth management business of Standard Chartered Bank in Sri Lanka for 3.7 billion rupees.

The transaction is expected to be concluded in early 2026, subject to regulatory approvals, DFCC Bank said in a stock exchange filing.

“The proposed acquisition forms part of DFCC Bank’s strategic growth agenda to strenghten its retail and wealth management franchise, build scale and create sustainable value for customers, employees and shareholders alike,” the filing said.

The transaction will be funded by internal funds.

Business News

Historic Partnership: Bybit Joins Hands with Master Trading Academy to Strengthen Crypto Education in Sri Lanka

Published

3 weeks ago

November 13, 2025

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Master Trading Academy (MTA), one of Sri Lanka’s leading and most trusted professional trading education institutions, has announced a strategic partnership with Bybit, the world’s second-largest and fastest-growing cryptocurrency exchange. This groundbreaking collaboration marks the first time a global crypto exchange has partnered with a Sri Lankan crypto education academy, creating a major milestone in the country’s digital finance landscape.

Through this partnership, MTA and Bybit are launching a comprehensive Crypto Education Program designed to equip aspiring traders, investors, and blockchain enthusiasts with the knowledge and practical skills required to engage confidently in the global crypto market. The course, valued at LKR 36,000, will be offered completely free of charge to 120 selected participants, who will be trained in three batches of 40 students.

Registrations are now open.