Author: lbostgadmin
Resilience in diversity: Financing nature and biodiversity
2021, a pivotal year for people and the planet. Greece, Turkey and California were aflame in heatwave induced wildfires, Canada was caught under a heat dome and a year’s worth of rain poured over Germany, Belgium, China and Sudan within a couple of days- devastating communities with floods in its wake. The message is clear, […]
JICA extends support for Sri Lanka’s socio-economic development
The Japan International Cooperation Agency (JICA) is ready to support the socio-economic development needs of Sri Lanka, said JICA, Director General South Asia Mr. Sakamoto Takema. Mr. Sakamoto Takema made these remarks when he met President Gotabaya Rajapaksa at the President’s House in Colombo, today (16). President Rajapaksa recalled that when he was the Secretary […]
CSE revises index calculation methodology of All Share Price Index
The Board of Directors of the Colombo Stock Exchange (CSE) has approved the revision of the index calculation methodology of the All Share Price Index (ASPI) at a Board meeting held on 15 November 2021 to change its calculation basis from full Market Capitalization-weighting to free float-adjusted Market Capitalization-weighting with effect from January 2022 following […]
”; Outlook Stable
Fitch Ratings has affirmed Sri Lanka-based Ceylon Electricity Board’s (CEB) National Long-Term Rating at ‘AA-(lka)’ with a Stable Outlook. They have also affirmed the National Long-Term Rating on CEB’s senior unsecured debentures at ‘AA-(lka)’. CEB’s ratings are equalised with that of its parent, the Sri Lankan sovereign (CCC), in line with Fitch’s Government-Related Entities (GRE) […]
Singapore Airlines to Resume Daily Services Between Colombo and Singapore
Singapore Airlines (SIA) today resumes daily services between Colombo and Singapore, increasing flight frequencies to seven times weekly from five weekly flights. Flight SQ469 departs from Colombo at 0045hrs and arrives in Singapore at 0720hrs. For the return sector, SQ468 departs from Singapore at 2210hrs and arrives in Colombo at 2330hrs. SIA operates the Airbus […]
Budget 2022 Proposals: Reactions from IPS Researchers
Dr Dushni Weerakoon Budget 2022 appears to be more of a stop-gap budget rather than one that sets out a framework on how revenues will continue to be mobilised and deficit financing requirements met over time. It seems that the government is hedging its bets on economic growth creating revenues, but with inflation set to […]
Aitken Spence records Rs. 2.9 Bn EBITDA across all sectors for 2Q with a 388% growth
The leading blue-chip conglomerate, Aitken Spence PLC reported an impressive growth of 388% from its earnings before interest expense, tax, depreciation and amortisation (EBITDA) of Rs. 2.9 Bn compared to Rs. 595 Mn in the 2Q of the previous year. During the 2Q the Group’s non-tourism sectors recorded a growth of 35% from its EBITDA […]
Cost efficiencies drive 9-month growth for ComBank
The Commercial Bank of Ceylon Group has achieved characteristically equitable growth for the nine months ending 30th September 2021, despite a slowing down in some key contributors in the third quarter of the year. The Group, comprising the Commercial Bank of Ceylon PLC – Sri Lanka’s largest private sector bank – its subsidiaries and an […]
HIPG signs MoU with BOI; joint shared services for industries in Southern Province
Hambantota International Port Group (HIPG) and the Board of Investment of Sri Lanka (BOI) signed a cooperative “Shared User Services” Memorandum of Understanding (MoU) on the 26th of October 2021. Johnson Liu, Chief Representative of China Merchants Port Holdings in Sri Lanka and CEO of HIPG, and Sanjaya Mohottala, Chairman of BOI, signed the Strategic […]
US Delivers USD 150Mn in Financing to DFCC Bank to Support Community-Based Women Entrepreneurs
The United States government disbursed USD 150 million in financing to DFCC Bank on November 12 to support sustainable development of Sri Lankan community-based businesses. This is the largest loan disbursement by the U.S. Development Finance Corporation (DFC) for Sri Lanka, and it is part of a USD 265 million commitment designed to support the local Micro, Small, and Medium Enterprise […]
Sampath Bank Maintains its Sustainable Growth Trajectory
Sampath Bank produced strong results for the nine months ended 30th September 2021, despite the challenges caused by prolonged impact of the COVID -19 pandemic. Due to the strategic initiatives and target orienting business plans, the Bank was able to steer through volatile economic conditions created by the pandemic to record a sizable 76.4% improvement […]
Finance Minister proposes to release all vehicles seized at Customs subject to taxes
Finance Minister proposes to release all vehicles seized at the Sri Lanka Customs owing to non-payment of applicable taxes and other reasons. Such release will be subject to the applicable taxes and fines. It is also proposed to impose a fee on vehicles meeting with accidents with the opportunity of reimbursing this fee from the […]