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ADB approves USD100Mn policy-based loan support for power sector reforms in Sri Lanka
The Asian Development Bank (ADB) and the Government of Sri Lanka signed a loan agreement for US$100 million on Monday (5 August 2024) for subprogram 1 of a policy-based loan (PBL) to support and facilitate reforms aimed at enhancing the financial sustainability of the power sector in Sri Lanka. This loan is part of a broader […]
” Policy Document to Encourage Bipartisan Approach Towards Development
The Ceylon Chamber of Commerce launched its landmark policy document, ‘Vision 2030,’ designed to steer Sri Lanka towards sustainable and inclusive development by 2030. The inaugural copy of this comprehensive economic plan was presented to President Ranil Wickremesinghe. The document will also be distributed to political party leaders, the Central Bank Governor, and the Treasury […]
VIDEO: What turned the country against Sheikh Hasina?
Demonstrators in Bangladesh’s capital Dhaka have stormed Sheikh Hasini’s official residence. The ousted prime minister had earlier resigned and fled to neighboring India. Bangladesh’s army said it would form an interim government.
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Fitch Ratings has assigned Hatton National Bank PLC’s (HNB, A(lka)/Stable) proposed Sri Lankan rupee-denominated Basel III-compliant subordinated debentures of up to LKR12 billion a final National Long-Term Rating of ‘BBB+(lka)’. The final rating is the same as the expected rating assigned on 4 April 2024 and follows the receipt of documents conforming to information already […]
Mimi Nicklin LIVE in Colombo: Understand the Power of Emotional Intelligence in Leadership
Mimi Nicklin, the acclaimed author, CEO, and multi-award-winning founder of Empathy Everywhere, will be presenting a LIVE masterclass in Colombo on the 15th of August 2024. This highly anticipated masterclass titled “Embrace the Power of Emotional Intelligence in Leadership” follows her previously sold out masterclass in June this year. The masterclass will take place at […]
‘s Make-or-Break Moment, The Leadership Sri Lanka Needs
By Jithendra Antonio As Sri Lanka emerges from an unprecedented economic crisis that has shaken the foundations of its society, the nation stands at a pivotal crossroads. The upcoming presidential election on September 21, 2024, presents an opportunity for transformative leadership capable of steering the country toward economic recovery, social equity, and sustainable development. The […]
Sunshine Holdings sustains growth momentum in 1QFY25
Diversified conglomerate Sunshine Holdings PLC (CSE: SUN) continued demonstrating resilience amidst prevailing macroeconomic conditions, reporting a topline growth of 6.5% YoY. The Group recorded a consolidated revenue of Rs.14.2 billion during the first quarter of the current financial year (1QFY25), with Profit after tax (PAT) contracting by 3.6% YoY to Rs.1.4 billion. The revenue increase […]
Eran Challenges USD20 M Mineral Discovery Seizure in Puttalam by Politically Connected Group
Former Minister of State for Finance Mr. Eran Wickramaratne raised a question in Parliament as to why Puttalam Ilmenite Limited (PIL) which has spent over USD 20 million over the last 10-years, has been denied entry to Sri Lanka Cement corporation land hindering the project realisation. The envisaged investment is USD 100 million which is the largest […]
Montana National Guard, U.S. Pacific Air Forces & Sri Lanka Air Force to conduct joint military exercise
The Montana National Guard and U.S. Pacific Air Forces, in collaboration with the Sri Lanka Air Force and members of the Maldives National Defense Force, are conducting ‘Atlas Angel,’ a joint military exercise aimed at enhancing preparation and response to natural and man-made disasters. From August 5- 9, more than 70 U.S. personnel and two […]
Maintaining macroeconomic stability, restoring debt sustainability require further efforts to raise fiscal revenues: IMF
The IMF staff team has concluded its visit to Sri Lanka, emphasizing the need for continued efforts to maintain macroeconomic stability and restore debt sustainability. The preliminary findings highlight the importance of raising fiscal revenues and exercising spending restraint to achieve a medium-term primary balance objective of 2.3% of GDP, which is crucial for the […]