Author: lbostgadmin
Sri Lanka electricity tariff revision breakdown
With immediate effect, Sri Lanka’s power regulator, the Public Utilities Commission Wednesday approved a 66 per cent hike in electricity tariffs. The rate hike is expected to generate an additional income of 287 billion rupees for the Ceylon Electricity Board and was done with the approval of three commission members of the PUCSL. However, Chairman […]
High Commissioner Moragoda meets Finance Minister of India ahead of G20 meeting
High Commissioner of Sri Lanka to India, Milinda Moragoda met with the Finance and Corporate Affairs Minister of India Smt. Nirmala Sitharaman on 14 February 2023 at the Ministry of Finance in New Delhi, as the latest of a series of meetings he has had with her since November 2021. The meeting between the Finance […]
Opinion: Driving sustainable and inclusive growth for everyone
By Armida Salsiah Alisjahbana, Under-Secretary-General of the UN and Executive Secretary of the Economic and Social Commission for Asia and the Pacific (ESCAP) Rapid development in Asia and the Pacific has propelled the region to become a key engine of growth for the global economy, yet this prosperity has not reached everyone. And with the […]
Sri Lanka to ban several single-use plastic & polythene products
Sri Lanka will ban the import, domestic production, sale, and domestic use of several single-use plastic & polythene products with effect from 01 June 2023. As per the cabinet decision, the following products will be banned from use. Single-use plastic drinking straws and utensils Disposable plates, cups (except yogurt cups), spoons, forks, and knives, including […]
Draft Central Bank of Sri Lanka Bill to be presented in Parliament
The Cabinet of Ministers has approved a proposal submitted by the President as the Finance Minister to publish the Central Bank of Sri Lanka draft Bill in the Government Gazette and then submit it to Parliament for approval. The Attorney General’s clearance has been received for the draft Bill.
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Fitch Ratings has revised the Outlook on Sri Lankan home builder Home Lands Skyline (Pvt) Ltd.’s (HLSL) National Long-Term Rating to Negative, from Stable. The agency has simultaneously affirmed the rating at ‘A(lka)’. The Negative Outlook reflects the deteriorating operating conditions for home builders, such as HLSL, which may lead to weakened home sales, slower […]
CMA rings bell with CSE, to recognize & promote integrated reporting
The Institute of Certified Management Accountants of Sri Lanka (CMA), in collaboration with the Colombo Stock Exchange (CSE), rang the market opening bell to commemorate the CMA Sri Lanka Excellence in Integrated Reporting Awards, with the objective of recognizing and promoting integrated reporting among the publicly quoted companies. The ceremony was attended by the CMA […]
‘s first ISO 14065 certification awarded to leading upcycling brand House of Lonali
House of Lonali, the pioneering upcycling brand from Sri Lanka specialising in transforming textile and paper waste into uniquely inventive items, has earned Sri Lanka’s first ISO 14065 Certification for their commitment to sustainability. The creative reuse efforts of the business were independently verified and certified by The Sustainable Future Group (SFG) – South Asia’s […]
Ceylon Chamber urges IMF to consider assurances received thus far & initiate approval process
The Ceylon Chamber welcomes and appreciates the financial assurances provided by creditors thus far, towards achieving Board approval from the IMF. The timely announcements by India, Paris Club members including members such as Japan, U.S. and UK, and non-members such as Hungary, are highly encouraging and appreciated by the business community at this time, the […]
SriLankan Airlines to start operations to China
SriLankan Airlines is set to renew its commercial operations to China in the first week of April 2023, with a thrice weekly service each to Shanghai, Beijing and Guangzhou as China reopens its borders. China was a leading source market for inbound tourism to Sri Lanka and one of SriLankan’s premier leisure traveller segments before […]
Hemas’ Focus on Core Sectors Continues to Deliver Sustained Growth
Hemas Holdings delivered a commendable performance in the first nine months of the financial year 2023. Notwithstanding the volatile economic conditions, the Group posted a cumulative revenue of Rs.81.7 billion, a 41.6 per cent growth over last year. Despite the 51.5 per cent growth in Group operating profits, reported earnings for the period remained flat […]
Aitken Spence reports cumulative first 9 months PBT of 10.3 Bn with 214-pct growth
The leading blue-chip conglomerate, Aitken Spence PLC reported a cumulative Profit Before Tax (PBT) of Rs. 10.3 Bn for the nine months ended 31st December 2022, which was a significant growth of 213.7% over last year. The highest contribution to the Group’s profit before tax was from the Maritime & Freight Logistics sector which accounted […]