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JKH recurring EBITDA grows by 17-pet to Rs.45.7Bn for 2022/23
The Group reported a resilient performance during the year, amidst the unprecedented challenges in the operating environment, recording a recurring EBITDA growth of 17% to Rs.45.74 billion. This is despite the substantial EBITDA recognition of Rs.6.30 billion from the revenue of the handover of the residential apartment units and commercial floors at ‘Cinnamon Life Integrated […]
IMF staff concludes visit; says restructuring agreements by first review essential to restore debt sustainability
Achieving timely restructuring agreements with creditors in line with the program targets by the time of the first review is essential to restoring debt sustainability, concluding the visit to Sri Lanka, the IMF staff mission said. An International Monetary Fund (IMF) mission led by Peter Breuer and Masahiro Nozaki conducted a staff visit to Colombo […]
Sri Lanka signs contract with Sinopec to secure a continuous fuel supply
The signing of an agreement with Sinopec, a leading international petroleum company, ensuring a stable and continuous supply of fuel for Sri Lanka took place this morning (22) at the President’s Office. Secretary of the Ministry of Power and Energy Mapa Pathirana and Chen Chengmim, Managing Director of the Fuel Production and Marketing Department of […]
CA Sri Lanka & APFASL launches Master’s Degree in Public Financial Management
Turning a new leaf in the country’s public financial management, the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) together with its public sector wing, the Association of Public Sector Accountants of Sri Lanka (APFASL) launched the Master of Public Financial Management (MPFM) Degree Programme, which aims to reinforce public sector professionals including […]
Western Province Solid Waste Management Master Plan Finalized
The final Joint Coordinating Committee (JCC) meeting of the Project for Formulation of Western Province Solid Waste Management Master Plan was held on May 18, 2023. The meeting was chaired by Ms. Kodippiliarachchi, Additional Secretary (Provincial Councils and Local Government), Ministry of Public Administration, Home Affairs, Provincial Councils, and Local Government. At the JCC meeting, […]
Over Two Thousand tourists on Cruise Liner at HIP
Two thousand two hundred passengers arrived at the Hambantota International Port (HIP) yesterday, on board cruise liner, Mein Schiff 5. The vessel is on a 60 day cruise from Hong Kong to Heraklion in Greece, visiting several ports in Japan, South Korea, Taiwan, Vietnam, Thailand, Singapore, Sri Lanka, Oman, Jordan and Egypt in between. The […]
PUCSL Chair calls for 27-pct electricity tariff reduction: CEB says 3-pct only
Chairman of Public Utilities Commission of Sri Lanka, Janaka Ratnayake emphasized that there is a possibility of reducing electricity tariffs by 27 percent. The Ceylon Electricity Board (CEB) has submitted a proposal to reduce the tariffs by only 3 percent. The PUCSL has informed the CEB to submit the correct data to reduce the electricity […]
Government has brought anti-corruption Bill not to catch thieves but to imprison the whistle blowers: Eran
SJB Parliamentarian Eran Wickramaratne said that the government has brought a new legislation called Anti –corruption Bill is aimed at not to prevent bribery and corruption but more to make the informants – the whistle blowers about the thieves afraid and silence them. The new anti-corruption Bill proposed by the government enshrines that a person […]
Teejay ends 2022-23 with 70-pct revenue growth despite tough H2
Posts revenue of Rs 84 billion for full year; Rs 17.3 billion in Q4 Sri Lanka’s first multinational textile manufacturer Teejay Lanka PLC has ended 2022-23 with noteworthy revenue and gross profit growth demonstrating its resilience in the face of external challenges and higher taxation that pressured profits in the second half of the […]
Will Govt place entire burden of domestic treasury bond debt optimization on EPF? Harsha
In a recent press conference MP Harsha de Silva outlined several critical points regarding the IMF Program and expressed general agreement with the stabilization program but stressed the need for specific amendments to focus the program towards medium-term growth. De Silva questioned the four-year plan outlined in the IMF Program. He pointed out that while […]