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Opinion: X-Press Pearl Disaster & Imperative for Regional Maritime Cooperation
By Githmi Rabel On 20 May 2021, Sri Lanka’s worst-ever marine disaster occurred when a fire erupted on the Singapore-registered MV X-Press Pearl container ship just 18 km Northwest of Colombo. While the long-term cost is yet to be determined, the negative impact on industries such as fisheries and tourism, and people who rely on […]
”; Outlook Negative
Fitch Ratings has downgraded AMW Capital Leasing And Finance PLC’s (AMWCL) National Long-Term Rating to ‘A(lka)’, from ‘AA-(lka)’. The Outlook is Negative. KEY RATING DRIVERS AMWCL’s National Long-Term Rating is driven by Fitch’s expectation that Associated Motorways Private Limited (AMW), a large importer of motor vehicles in Sri Lanka that owns 90% of AMWCL, will […]
Sunshine Holdings records 54% top-line growth in 1Q with acquisitions in Healthcare & Consumer
Diversified Sri Lankan conglomerate Sunshine Holdings PLC (CSE: SUN) continued to demonstrate resilience amidst prevailing macro-economic conditions after reporting an impressive top-line growth of 54% YoY. The Group recorded consolidated revenue of Rs. 7.3 billion during the first quarter of the current financial year (1QFY22) and Profit after tax (PAT) grew 88% to Rs. 1 […]
”s economy is in crisis
Sri Lanka’s finances are in a precarious state, but the economy was already in trouble before the COVID-19 pandemic. Between 2005 and 2015, Colombo borrowed billions from China, accumulating a mountain of debt. It was forced to hand over a port to a Chinese company after failing to keep up with payments. But Beijing is […]
‘s 75th Independence Day
High Commissioner of India to Sri Lanka Gopal Baglay called on Foreign Minister Dinesh Gunawardena on 03 August, 2021. Minister Gunawardena thanked the government and the people of India for extending assistance to Sri Lanka in combating the COVID 19 pandemic and appraised the opening of the country for economic activities. The High Commissioner Baglay also appreciated Sri Lanka for […]
Facebook Marketplace Comes to Sri Lanka
Facebook has announced that Facebook Marketplace is now available in Sri Lanka, making it easier for people to discover, buy and sell items from others in their local communities. Jordi Fornies, Director of Emerging Markets, APAC at Facebook said: “We know that people are increasingly shopping online, especially during the COVID-19 pandemic. We are excited […]
Earn a mile-a-minute in Dubai with Emirates skywards
The loyalty programme has launched a special offer allowing members to earn a “Mile-A-Minute in Dubai” as the city gears up to host Expo 2020, and as the UAE celebrates its Golden Jubilee The offer is valid on all Emirates flight tickets purchased between 1 August and 31 March, for travel between 1 October and […]
Teejay Lanka steps into 2021-22 with improved Q1 performance
Teejay Lanka PLC has made an encouraging start to FY 2021-22 with solid top and bottom line growth in the three months ending 30th June 2021, shrugging off the pandemic-imposed shackles that retarded Q1 growth last year and overcoming the impact of the third wave of COVID-19 on the industry. Sri Lanka’s largest textile manufacturer […]
Opinion: Unleashing the ‘Billion Dollar’ potential of Sri Lanka’s rubber industry
By Manoj Udugampola At a time Sri Lanka is in much need of increasing its foreign exchange reserves, the vast untapped potential of the country’s rubber exports industry requires due attention. To place the rubber sector’s foreign exchange earning potential in context, the Export Development Board (EDB) had earlier set a target of USD 4.4 […]