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Aitken Spence records its historically highest ever Q1 PBT of Rs. 7.2bn
Anchored through a heritage of excellence spanning over 150 years with diversified business operations across 8 countries, Aitken Spence PLC reported a strong performance during the Q1 that ended 30th June 2022. The conglomerate recorded a significant increase on its profit before tax (PBT) of Rs. 7.2 billion compared to a loss of Rs. 467 […]
Seylan Bank records Rs.1.5Bn PAT for 1H 2022
Seylan Bank recorded a Profit after Tax of Rs. 1,504 Mn for the 6 months ended 30th June 2022 against Rs. 2,105 Mn reported in the corresponding period of 2021. This has been seen by financial analysts as mcommendable given the extremely challenging and adverse conditions the Bank operated in, with Sri Lanka facing its […]
Cybercrime – The Invisible Lurking Threat
By Ajita Kadirgamar: Warnings and advice on some of the most common and often fatal Cybersecurity traps Cybersecurity, most often the lack of it, is a buzzword that commands attention. In March 2021, Sri Lanka ranked 77th on the National Cyber Security Index[1] – a global live index, which measures the preparedness of countries to […]
Opinion: Stagflation in Sri Lanka? Risks and Policy Responses
The world economy is showing signs of a serious slowdown due to overlapping crises including the Russia-Ukraine War, the COVID-19 pandemic, China’s real estate crisis and the global tightening of monetary policy. In June, the World Bank revised the 2022 growth prediction downward to 2.9% from its January forecast of 4.1%. The slowdown has come […]
‘s & Doctoral Degree Scholarships
The Project for Human Resource Development Scholarship (JDS) was initiated in year 2010 in supporting the capacity development of young officials of the Government of Sri Lanka by providing diverse opportunities to study at reputed Japanese Universities. A Grant Agreement was concluded for an amount of 282 million Japanese Yen, approximately 739 Sri Lankan Rupees […]
Sri Lanka electricity tariff revision 2022
• CEB’s proposal to increase electricity tariffs by 229 percent is rejected – capping off tariff hikes at 75 percent • Subsidies up to 120 units in domestic sector • 50 percent of the price increase for tourism sector will be implemented after 3 months • 1.5% discount on electricity bill payments in dollars • […]
Cabinet nod to present Petroleum Products Amendment Bill in Parliament
In order to ensure the continuous supply of petroleum products due to the acute foreign exchange deficit currently existing in the country, the cabinet decided to amend the Petroleum Products (Special Provisions) Act No. 33 of 2002 to allow more competing parties to be licensed for the importation of petroleum. Accordingly, the relevant bill has […]
Issuance of one-time visas to tourists coming to Sri Lanka for a period of one year
Cabinet nod has been received to issue one-time visas to tourists for a period of one year through electronic travel authorization with multiple entry permission, subject to 90 days maximum that can be stayed in the country at one time. For that, the country will charge a fee of US$ 200 for a business visa […]
Winners and Losers of Sri Lanka’s Work from Home Policy
A new publication by the Institute of Policy Studies of Sri Lanka (IPS) has identified that a key barrier to remote work in Sri Lanka is the lack of relevant regulations and legislation governing the Work from Home (WFH) practice. Accordingly, the publication advocates legal reforms to facilitate WFH and improve labour market activities in […]
Resume Sri Lanka’s participation in Stolen Asset Recovery initiative: Human Rights Watch
Sri Lanka’s new president, Ranil Wickremesinghe, should ensure that his administration adopts measures to protect the basic rights of all Sri Lankans, Human Rights Watch said in a letter published today outlining key human rights concerns. Wickremesinghe was sworn in as president on July 21, 2022, after then-President Gotabaya Rajapaksa stepped down after months of widespread protests against economic […]
Opinion: Fixing the Sri Lankan Economy
By M. Rizwan Muzzammil: Introduction The Sri Lankan economy is significantly weakened and at risk of catastrophic collapse. There is a need for the government to boost entrepreneurship and production. In order to do this the following two important hurdles to businesses must be addressed. The difficulties posed by these hurdles has caused an adverse […]
ComBank offers certificate course for women entrepreneurs with PIM
The Commercial Bank of Ceylon has launched a ground-breaking certificate course in SME skills development exclusively for women entrepreneurs, in collaboration with the Postgraduate Institute of Management (PIM) affiliated with the University of Sri Jayewardenepura. The course will consist of three seven-hours-a-day sessions spread over three months followed by a practical presentation session, the Bank […]