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GSP+ Impact to Sri Lanka: Mountain or molehill
Whilst the GSP plus helps significantly boost the country’s export performance, the loosing of it would not create a major vacuum on a broader level besides the loss of a strong potential trade surplus with the EU, Softlogic Equity Research said. “On a micro level, individual businesses engaged in the export of Apparel, Agriculture, Fisheries […]
Sampath Bank concludes Rs.750Mn structuring & investing in LVL Energy Fund’s unlisted bond
Sampath Bank PLC announced that it had recently concluded the structuring and investment of an unquoted, secured, non-convertible, deep-discounted bond issuance for LVL Energy Fund PLC. The Rs.750 million instrument was tailor-made by Sampath Bank’s Corporate Finance Unit to suit the unique characteristics and financing needs of LVL Energy Fund PLC. Sampath Bank was the […]
Prospect to leave for work in Korea will be provided shortly, Korean Ambassador assures
The Korean Ambassador to Sri Lanka Woonjin Jeong assured the Foreign Minister that the facilities required for the Sri Lankan youth who are eligible for employment in Korea to travel to Korea will be provided shortly. He was speaking at a discussion on the delays faced by young people who are eligible for jobs in […]
COVID-19 and Sri Lanka’s External Sector: Challenges and Policy Choices
By Tharindu Udayanga: The COVID-19 pandemic exerted significant downward pressure on global trade as well as the global economy at large. Unprecedented declines in merchandise trade, foreign direct investment (FDI) flows, tourism and cross-border migration have all been hallmarks of the economic fallout. As a result, growth expectations for countries worldwide dimmed. Nonetheless, thanks in […]
Indian assistance to promote solar power project
Measures have been taken to increase the contribution by renewable energy sources to the national power grid by enhancing solar power generation as per the National Policy Framework ‘Vistas of Prosperity and Splendour.’A key plan of the Government is to generate solar power by obtaining the contribution of state-owned buildings, places of worship and houses […]
India Exim Bank to grant USD 100mn credit line to promote solar power in Sri Lanka
Measures have been taken to increase the contribution of renewable energy sources to the national power grid by enhancing solar power generation as per the National Policy Framework ‘Vistas of Prosperity and Splendour.’ A key plan of the Government is to generate solar power by obtaining the contribution of state-owned buildings, places of worship and […]
INSEE Cement strengthens commitment to restore Nation on world environment day
INSEE Cement, Sri Lanka’s only fully integrated manufacturer of cement, reaffirmed its commitment towards ‘a restored nation’, answering the global call for urgent action to revive damaged ecosystems on World Environment Day 2021. Continuing its mandate to steer Sri Lanka’s construction industry towards ambitious, globally set climate targets, INSEE Cement marked the launch of the […]
Emirates Group announces 2020-21 results
The Emirates Group today announced its first year of loss in over 30 years caused by a significant drop in revenue, fully attributed to the impact of COVID-19 related flight and travel restrictions throughout its entire financial year 2020-21. Released today in its 2020-21 Annual Report, the Emirates Group posted a loss of AED 22.1 billion (US$ 6.0 billion) […]
Brandix sustainability summit calls for net-zero carbon future
Brandix hosted its inaugural Sustainability Summit on the 4th of June, in celebration of World Environment Day 2021 on 5th June. The summit focused on the theme ‘Towards a Net Zero Future – Translating Targets to Action’, providing a platform for key stakeholders to explore the business case for accelerating action in line with the […]
IFC invests $5 mn in Sunshine Holdings to help diversify business operations in Sri Lanka
Consumers in Sri Lanka are set to benefit from a new $5 million investment by IFC to Sunshine Consumer Lanka Ltd, a subsidiary of Sunshine Holdings PLC (Group), with a greater number of food products on offer and moves to adopt international food safety standards. The move marks IFC’s first local currency investment in Sri […]
CSE reports highest quarterly earnings surpassing LKR 100bn milestone: Softlogic Research
The CSE witnessed another landmark, as reported earnings crossed the LKR 100bn mark for the first time in the history of the CSE during the first quarter of the calendar year 2021. The growth is a monumental 189% YoY growth compared to the corresponding quarter the previous year. Recording its best quarterly earnings performance in […]
Ceylon Petroleum Corporation to build new storage facility at Hambantota International Port
The Ceylon Petroleum Corporation (CPC) signed a Memorandum of Understanding with the Hambantota International Port Group (HIPG), last week to develop Hambantota Port as a strategic energy center in Sri Lanka. The signing ceremony was held at the Ministry of Energy, with top officials of CPC and HIPG participating. A separate storage terminal with associated […]