Category: Economy and Markets
‘s exports expected to surpass USD 12bn by end 2021; records USD 1.2bn in November
Sri Lanka’s merchandise exports increased by 55.11% to US$ 1,215.6 Million in November 2021 compared to November 2020 as per the data released by the Sri Lanka Customs. Exports maintained above one billion dollars for the fifth consecutive month in November this year. EDB Chairman & CE, Suresh D. de Mel said, “Sri Lanka’s exports […]
Sri Lanka headline inflation increased to 11.1-pct in November
Headline inflation, as measured by the year-on-year (Y-o-Y) change in the National Consumer Price Index, increased to 11.1 percent in November 2021 from 8.3 percent in October 2021 driven by monthly increases of prices of items in both Food and Non-food categories. Subsequently, Food inflation (Y-o-Y) increased to 16.9 percent in November 2021 from 11.7 […]
John Keells Foundation’s “Break the Silence” public campaign targets domestic violence
John Keells Foundation conducted a two-week public campaign against gender-based violence under its Project WAVE (Working Against Violence through Education). This year’s campaign sustained last year’s theme of ‘Break the Silence’ with a special focus on Domestic Violence in the context of reported surge in complaints received on hotlines during the pandemic. The overall objective […]
Planters’ Association condemns politically-connected land encroachments at Madampe Estate
The Planters’ Association of Ceylon (PA) strongly condemned a recent incident of forceful and illegal encroachments of estates managed by the Regional Plantation Companies (RPCs), and called on the Government and law enforcement officials to uphold the rule of law in RPC estates. The statement was a response to an incident on 6 December 2021, […]
Hela Apparel Holdings set for landmark IPO
The Colombo Stock Exchange has formally approved the Initial Public Offering (IPO) of Hela Apparel Holdings Limited (the holding company of the Hela Clothing Group), with the offer set to open on Wednesday 12th January. This highly anticipated IPO, by one of Sri Lanka’s leading social-capital focused apparel supply chain solution providers, will see 267,108,998 […]
Intensive Care Unit at Udugama Hospital opens to public soon
Watawala Plantation Limited announces the opening of its newly built fully equipped Intensive Care Unit at the Udugama Base Hospital in the Galle District under the guidance of the Ministry of Health, which will be open to the Public at the auspicious time on Wednesday, December 22, 2021. The project led by Watawala Plantations Ltd […]
ADB partners with JKH to boost food value chains and farm livelihoods in SL
The Asian Development Bank (ADB) entered into an agreement to invest up to $80 million (in Sri Lanka rupee equivalent) in John Keells Holdings PLC (JKH) to boost the country’s food value chain and promote economic growth and job creation. The investment will be a two-phase private placement to support the expansion of JKH’s modern retail and distribution […]
Co-operative Insurance opens Initial Public Offering
Leading Sri Lankan insurer Co-operative Insurance, recently announced the date of their Initial Public Offering (IPO), which is set to take place on the 20th of December, 2021. The IPO will be managed by the Merchant Bank of Sri Lanka. Affirming its financial strength, the company, which secured a strong financial performance for the past […]
Listed Companies welcome opportunity to hear about new SEC Act directly from Regulator
The Securities and Exchange Commission of Sri Lanka (SEC) and the Colombo Stock Exchange (CSE) organized a symposium on 6th December 2021 to enlighten senior officials of listed companies on the features of the new Securities and Exchange Commission Act No. 19 of 2021. SEC Media Release The SEC Chairman Mr. Viraj Dayaratne PC delivered […]
Sri Lanka disputes rating downgrade by Fitch Ratings
Downgrading Sri Lanka’s international sovereign rating resembles the recent unwarranted downgrade by Moody’s Investors Service a few days prior to the announcement of the National Budget 2022, Sri Lanka’s Central Bank said. Releasing a statement the bank said the sense of urgency on the part of an internationally recognised rating agency to downgrade Sri Lanka […]
Allocation of shares for First Capital Treasuries IPO concluded
Sri Lanka’s leading non-bank primary dealer, First Capital Treasuries PLC, a subsidiary of First Capital Holdings PLC, saw its Initial Public Offering (IPO) being oversubscribed 4.5 times within hours on its opening day and the offering was closed on the same day, as indicated in the prospectus. First Capital Treasuries received 1,991 applications amounting to […]
Sri Lankan economy contracted by 1.5-pct in 3Q 2021
Sri Lanka’s Department of Census and Statistics revealed that the economic growth rate for the third quarter of 2021 is estimated as a negative growth rate of 1.5 percent amidst the third wave of the Covid-19 pandemic. In the third quarter of 2021, the overall Agricultural activities recorded a slight positive growth of 1.7 percent. […]