Author: lbostgadmin
Sri Lanka Budget Speech 2024 – Highlights
President and Finance Minister Ranil Wickremesinghe is delivering the Second Reading of the Appropriation Bill for the financial year 2024 in Parliament. Sri Lanka Budget 2024: LIVE VIDEO To enhance government employee pay, the state’s revenue must be increased, emphasizes President Inefficiencies in the public sector must be eliminated. President Ranil Wickremesinghe highlights need to […]
Launch of the Artificial Intelligence Readiness Assessment for Sri Lanka
The advent of Artificial Intelligence (AI) is ushering in rapid transformation across various economic sectors, promising to revolutionise industries such as agriculture, transportation, education, and healthcare. Against this backdrop, the concept of “AI readiness” has taken centre stage, with many recognizing AI’s potential to elevate public services, and work towards increasing efficiencies across multiple sectors. […]
Epic Lanka unveils digitalization strategy beyond 25 years with 20 innovative products
Epic Lanka, a wholly Sri Lankan-owned fintech and digital transformation solutions provider with a quarter-century of experience in the IT industry, recently marked the momentous occasion of their 25th anniversary. This milestone underscores their enduring commitment to excellence and their significant contributions to the field of financial technology. Evolving from its roots as a project-driven […]
World Bank Approves USD150 Million to Strengthen Sri Lanka’s Financial Sector Safety Net
The World Bank Executive Board approved US$ 150 Million under the Sri Lanka Financial Sector Safety Net Strengthening Project to strengthen the financial and institutional capacity of Sri Lanka’s financial sector safety net, with the focus on the Sri Lanka Deposit Insurance Scheme. “Sri Lanka’s economic crisis highlights the need for strong safety nets to […]
Government pledges support for spice industry revival
President Ranil Wickremesinghe, called for a comprehensive program to revive the country’s spice industry, which was once a major source of income. Speaking at the 19th Annual General Meeting of the Spice Council, he urged them to prepare a proper plan for the revival of the industry and said that the government is ready to […]
”; Outlook Negative
Fitch Ratings has downgraded Sri-Lanka based Hela Apparel Holdings PLC’s National Long-Term Rating to ‘BB+(lka)’, from ‘AA- (lka)’. The Outlook is Negative. The downgrade follows the sharp deterioration in Hela’s financial profile following the apparel manufacturer’s significant adjustment of financial accounts from the interim accounts during its annual audit for the financial year ended March […]
Sri Lanka’s Female Migrant Workers: Flying Abroad on Borrowed Time
By Manisha Weeraddana In a small roadside hut in Nattandiya, Asoka Malini, a returnee migrant worker, spends her days with a handful of vegetables. She worked for 6 years in Saudi Arabia as a housemaid and a care worker, earning a monthly salary of LKR 20,000. As a mother of two, Asoka now faces an […]
John Keells Holdings PLC interim financial results for 2Q 2023/24
Summarised below are the key operational and financial highlights of our performance during the quarter under review: • During the quarter under review, the Group’s businesses, except for Transportation and Property, recorded growth in profitability. • Group EBITDA at Rs.8.06 billion in the second quarter of 2023/24 is a decrease of 13% against Group EBITDA […]
9th Regional dialogue on biodiversity finance in Sri Lanka features new opportunities
A sustainable wonder to the world, Sigiriya is one of the most valuable historical monuments in Sri Lanka and deserving of its inscription as a UNESCO World Heritage site since 1982. Sigiriya is also where another landmark knowledge exchange on biodiversity finance takes place. Reversing the global decline in biodiversity by 2030 requires a budget […]
‘s human development
The Asia-Pacific region is lurching towards an era of unmet aspirations, worsening inequalities, and a steady erosion of democratic spaces. Rising global tensions, new technologies, growing polarization, and existential threats linked to climate change threaten to disrupt improvements in well-being the region has seen in past decades, says a new report from the United Nations […]
DFC Commits Half Billion Dollars to Port Infrastructure in Colombo, Sri Lanka
The U.S. International Development Finance Corporation (DFC) today announced it has committed more than half a billion dollars to support the development of a deepwater shipping container terminal in the Port of Colombo, Sri Lanka, that will provide critical infrastructure for the South Asian region. The new terminal reflects DFC’s commitment to financing high-quality infrastructure […]