Author: lbostgadmin
Ceylon Chamber seeks urgent action to restore electricity and fuel supply to avoid economic standstill
The Ceylon Chamber of Commerce notes with serious concern the adverse effects brought on its members and all sectors of the economy in general as a result of the ongoing interruptions to the supply of electricity coupled with frequent disruptions to the availability of fuel. The Chamber is of the view that these issues are […]
Towards improved livelihoods and higher revenues from sustainable fisheries in SL :WB report
When managed in an environmentally, socially, and financially sustainable manner, coastal aquaculture holds significant promise for increased export earnings and skilled jobs. Sri Lanka has 1,620 kilometers of coastline and exclusive rights to fish, drill and conduct other economic activities in a 517,000-square-kilometer exclusive economic zone in the Indian Ocean. However, this does not mean […]
Rise in Global Inflation Widespread and Persistent: Fitch Ratings
The pick-up in global inflation has been widespread and persistent and has shown few signs of having peaked, according to Fitch Ratings’ latest ‘20/20 Vision’ chart pack. CPI inflation has increased in virtually every Fitch 20 country in the past three months and is now elevated relative to pre-pandemic rates and inflation targets in many […]
Expanding Facebook Protect to more countries including Sri Lanka
Meta Platforms, Inc., doing business as Meta and formerly known as Facebook, is expanding Facebook Protect, their security program for groups of people that are more likely to be targeted by malicious hackers, such as human rights defenders, journalists, and government officials. Media Release As part of our ongoing improvements to security, we’re expanding Facebook […]
Central Bank requests public to provide information on unauthorized forex dealings
Central Bank requests the public to provide information on unauthorized foreign currency dealings. Accordingly, any person, institution or any other entity is engaged in unauthorized foreign exchange dealings, the public is hereby requested to inform the Foreign Exchange Department of CBSL via the following telephone numbers or the email address. Telephone : 0112398827, 0112477375, 0112398568Email […]
Top academic to lead ComBank Board
Commercial Bank of Ceylon PLC has announced the appointment of top academic Prof. A. K. W. Jayawardane as Chairman, and accomplished international investment banker Sharhan Muhseen as Deputy Chairman effective Tuesday, 1st March 2022. Prof. Jayawardane, previously Deputy Chairman of the Bank, succeeds former Chief Justice K. Sripavan as Chairman following the completion of the […]
Russia-Ukraine Conflict: Economic Implications for Sri Lanka
By Asanka Wijesinghe: The Russian invasion of Ukraine deepens the existing global economic woes – persistent supply chain bottlenecks and associated rising inflation – clouding the prospects of a smooth global economic recovery from the pandemic. The West, led by the US and the EU, swiftly imposed strict economic sanctions, targetting Russian banks, oligarchs, political […]
VIDEO: Putin is smart, our leaders are dumb, Trump blasts US response to Ukraine crisis
Former US President Donald Trump emerged from political exile to blast President Joe Biden and NATO over the Ukraine crisis.
Norlanka unveils solar energy project at Trincomalee plant
Norlanka, one of Sri Lanka’s largest sustainable exporters of baby and kidswear, has reached its latest milestone in its journey towards achieving sustainable excellence by successfully unveiling a solar energy project at its manufacturing facility in Trincomalee. The solar energy project was ceremonially declared open recently by GS Periwal – CEO of Norlanka together with […]
SriLankan Airlines adorns aircraft livery with ‘Raid Amazones 2022’ insignia
SriLankan Airlines adorns one of its aircraft with customized livery to reaffirm its status as the official airline of the much-awaited ‘Raid Amazones 2022.’ Raid Amazones 2022 is an annual sporting event that features a large number of French female athletes competing their way to victory through multiple sports events and activities against the backdrop […]
Sri Lanka needs price formula to avert future energy crisis
Regional fuel prices are significantly higher than Sri Lanka Sri Lanka pitches into darkness and its people form lines at fuel stations due to the ongoing energy crisis. Fuel, which is the single largest import accounting for 18% of the country’s total import expenditure, cost an alarming USD 3.7 billion in 2021. Since the actual […]
Nations Trust Bank records strong performance in 2021 amidst volatile conditions
The Group achieved a record Profit Before Tax of LKR 10.4 billion, for the twelve months ended 31st December 2021 – a growth of 38% compared to the previous year, despite the challenging operating environment experienced during the period. The Group recorded a Profit after tax growth of 65% supported by the decrease in the corporate tax rate. Business Growth The […]