Category: Companies
Seylan Bank records Rs.1Bn PAT in 2021 Q1 despite Covid challenges
Seylan Bank made a steady start in 2021 by posting a Profit After Tax (PAT) of LKR 1Bn in Q1 2021 amidst macro-economic challenges brought in by the COVID-19 pandemic. Statement of Financial Performances Interest income recorded a decline due to the lower interest rates and moderate book growth but net interest margin showed a […]
Sri Lanka surpasses USD 1Bn exports in March 2021 after six months
Sri Lanka surpassed US$ 1 billion in exports in March 2021 after a lapse of six months period, the Export Development Board said. As per the Customs statistics, earnings from merchandise exports recorded double-digit growth of 62.47% in March 2021 on y-o-y comparison – the March figure being US$ 1,066.1 Mn. Earnings from merchandise exports […]
ADB projects Sri Lanka’s economic growth to rise to 4.1-pct in 2021
The Asian Development Bank’s (ADB) flagship annual economic publication, the Asian Development Outlook (ADO) 2021, forecasts a significant rebound in Sri Lanka’s economy as domestic and global economic activity strengthens and vaccination campaigns gather momentum domestically and abroad. ADB projects Sri Lanka’s economic growth to rise to 4.1% in 2021 and moderate to 3.6% in […]
Prime Lands Residencies announces virtual investor forum for upcoming IPO
Prime Lands Residencies, the condominium property arm of Prime Group, announces the first ever Virtual Investor Forum for its upcoming Initial Public Offering (IPO). Extending its invitation to investors and market participants, the Prime Lands Residences Virtual Investor Forum will be held via Zoom on the 28 th of April 2021, 4.00pm onwards. The Initial […]
World Bank reassures support for Sri Lanka to build back better from COVID-19
The World Bank’s Country Director for Maldives, Nepal and Sri Lanka, Faris Hadad-Zervos, concluded a successful visit to Sri Lanka Sunday where he reiterated the Bank’s commitment to support the islands efforts towards recovery and to build back better from the COVID-19 shock. Based in Kathmandu, Nepal, this latest mission followed the Country Director’s introductory […]
Sri Lanka’s tech startup program spiralation opens for 2021 applications
Sri Lanka’s apex Government body in driving the tech-startup ecosystem, the Information and Communication Technology Agency of Sri Lanka (ICTA) is now calling applications for its national startup initiative ‘Spiralation’ for the ninthyear running. The Spiralation series has so far supported more than 90 successful startups across multiple industry verticals -including health, finance, agriculture, education […]
ICRA Lanka: Low-interest rates, Who are the winners and losers?
Key Takeaways § Price increase in treasuries have helped primary dealers and banks to realize substantial capital gains as much as 40-to-60 percent from March 2020 price levels. § Equities attracted a large number of local investors, as historically low interest rates on fixed income assets prompted them to seek alternative investments. Investors saw their portfolio valuations […]
ComBank becomes Sri Lanka’s first carbon-neutral bank
The Commercial Bank of Ceylon has become the first Sri Lankan bank to achieve carbon neutrality for the entirety of its operations, encompassing all 268 branches and its head office – a monumental milestone in the Bank’s commitment to the environment. Becoming a net-zero carbon company was one of Commercial Bank’s Green Goals, to be […]
Only solution for COVID-19 pandemic is vaccination: Cant afford lockdown
Sri Lanka’s President says only a vaccine can end the COVID-19 pandemic. Developing countries such as Sri Lanka cannot take lockdown measures or impose curfews that obstruct the economic activities of the country, the President’s office said issuing a statement. “The majority of our country’s income earners depend on informal livelihoods. Therefore, while the government […]
Our standard regular cylinders are available without a shortage in the market: Litro Gas Lanka
Litro Gas Lanka says that their standard regular cylinders are available without a shortage in the market and customers may order their LPG requirements by dialing 1311 or via the Litro Gas Home Delivery App. According to the company, all categories of Litro Gas Lanka cylinders are available to consumers without any shortage. Full statement
Opinion: Port City, Better economic governance, not giveaways should be focus of new governance zone
Deng Xiaoping China’s great reform leader, faced a serious problem in the 1970s. Thousands of young Chinese were crossing to Hong Kong risking their lives. Rather than cracking down on the migrants, Deng sought to understand why they were migrating. Clearly the economic opportunities in Hong Kong were greater than in mainland China. Deng was […]
EFL 3PL becomes Sri Lanka’s first Carbon Neutral logistics company
Sri Lanka’s largest logistics solutions company, EFL’s five-year march towards achieving a more sustainable operational model culminates in its certification as ‘Carbon Neutral’ as of 1st April 2021. The company’s achievement remains the culmination of a series of systematic initiatives implemented since 2016, which looked to transform its business into a far more efficient and […]