Category: Economy and Markets
Call for Chartered Accountants to build on position of trust & lead on future challenges
The Chartered Accountancy profession must use its position of trust to act on tackling the challenges of the recovery after Covid-19 and on building towards a sustainable future. This was the call from an event with panelists across the world, held to launch results of a survey into international business leaders’ trust in Chartered Accountants. […]
A non-traditional budget will be presented this time: PB Jayasundera
Secretary to the President P. B. Jayasundera said that he believes a budget with a new vision and programme that goes beyond the traditional budget will be presented to the country this time. The Secretary to the President said that the priority will be given to the fields of green economy, renewable energy, information technology […]
“JKH Group Q2 EBITDA records growth of 93-Pct; significant turnaround in Leisure sector business
Summarised below are the key operational and financial highlights of our performance during the quarter under review: • Group EBITDA recorded a significant improvement to Rs.6.41 billion during the quarter under review, which is a 93 per cent increase against the comparative period [2020/21 Q2: Rs.3.32 billion]. • The Group’s businesses, except for Consumer Foods […]
Standard Chartered Sri Lanka globally recognised for gender equality with EDGE Certification
Standard Chartered Sri Lanka has been certified at the second highest level of the three-tiered Economic Dividends for Gender Equality (EDGE) Certification – “Move: Showcasing Progress”, marking a first for Sri Lanka. The Bank’s EDGE Certification, the process of which was supported by the International Finance Corporation (IFC) under the IFC-DFAT Women in Work programme, […]
Expolanka achieves record 1st half FY 2021/22 performance
Announcing its financial results for the 2nd quarter of the financial year, Expolanka Holdings PLC once again reported exceptional results driven by the continued growth of its Logistics business. For the quarter ended 30 September 2021 (Q221), Expolanka recorded a Profit After Tax of Rs 12 Bn, at a 166% increase Year on Year (YoY). […]
‘s headline inflation increased to 7.6-pct in October
Headline inflation, as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index, increased to 7.6 percent in October 2021 from 5.7 percent in September 2021 driven by monthly increases of prices of items in both Food and Non-food categories. Subsequently, Food inflation (Y-o-Y) increased to 12.8 percent in October 2021 from 10.0 […]
Sri Lanka’s latest venture into cement manufacturing connects with Hambantota Port
An agreement was signed between Hambantota International Port Group (HIPG) and Lanwa Sanstha Cement Corporation Pvt. Ltd. to establish a conveyor belt and two ship unloaders within the port premises to handle and deliver raw materials required for their cement manufacturing plant at the Mirijjawila BOI zone. The agreement was formalized by CEO of HIPG, […]
CBSL issues new rules on export proceeds conversion; applicable for both goods & services
The Monetary Board of the Central Bank has issued new rules, in respect of repatriation of export proceeds into Sri Lanka and conversion of such export proceeds to Sri Lanka Rupees, repealing the existing rules. The new rules are applicable for both exporters of goods and services in Sri Lanka. The new Rules require exporters […]
”s rating to Caa2; CBSL questions timing & subjectivity
Moody’s Investors Service (“Moody’s”) has downgraded the Government of Sri Lanka’s long-term foreign currency issuer and senior unsecured debt ratings to Caa2 from Caa1 under review for downgrade. The outlook is stable. “The decision to downgrade the ratings is driven by Moody’s assessment that the absence of comprehensive financing to meet the government’s forthcoming significant […]
Virtusa introduces new senior leaders
Virtusa Corporation, a global provider of digital strategy, digital engineering and IT services and solutions that help clients change and disrupt markets through innovation engineering, recently announced several key leadership appointments. The announcements extend Virtusa’s leadership, vision, and reputation as a top employer. Virtusa has a long heritage of providing deep digital engineering skills and […]
Lack of openness in govt agencies a concern for assessing budget promises: Verité Research
Independent research institute and think tank in Sri Lanka, Verité Research highlights that the level of openness of government agencies is a major concern in evaluating their performance against budget promises. Presenting an overview of selected cabinet decisions taken in 2020, Research Assistant Udahiruni Atapattu described the lack of willingness of ministries and other government […]
Trillium Hotels and VIP Residencies unveils luxury retirement complex
Trillium, one of Sri Lanka’s most sought after real estate developers which aims to deliver comfort and elegance while merging the value of an exclusive lifestyle, is set to further diversify its offerings with the launch of Trillium Hotels & VIP Residencies. Positioned in the heart of Colombo 07, Trillium Hotels & VIP Residencies is […]