Category: Economy and Markets
All public servants to be called to duty as usual from Monday; WFH circulars revoked
Secretary to the President P.B. Jayasundera has informed the Secretary to the Ministry of Public Services, Provincial Councils, and Local Government, J.J. Rathnasiri, that all public servants be called to duty as usual from August 2, 2021 (Monday) in accordance with Covid-19 Health Guidelines. The Secretary to the President has also informed to revoke all […]
Top real estate developers identified in new brand health survey 2021
This year’s Research Intelligence Unit (RIU) survey delved deeper than brand surveys of the past by looking into multifarious factors that included brand awareness, brand perception, brand visibility, brand attributes and top of the mind recall. Home Lands, Prime Lands, Kelsey Homes, JAT, Blue Ocean, Span and Fairway were found to be the top seven […]
John Keells Group records strong Q1 performance; Q1 EBITDA at Rs.4.76 bn
The profit attributable to the equity holders of John Keells Group is Rs.1.53 billion for the three months ended 30 June, compared to a negative Rs.1.66 billion in the corresponding period of the previous financial year, interim accounts showed. Summarised below are the key operational and financial highlights of performance during the quarter under review: […]
MAGA to design and construct two flyovers in Col 02 valued at Rs. 5.2Bn
Maga Engineering has begun construction of two new flyovers in Slave Island (Colombo 02), along Justice Akbar Mawatha and Uttarananda Mawatha. The proposed flyovers will overarch two central intersections in Slave Island and the Coastal Line – one of the busiest railway tracks leading into the city, thereby easing heavy traffic congestion leading to Colombo’s […]
Hemas Partners with Govt plastic waste recycling campaign
Hemas Holdings partnered with the Ministry of Environment to support its environmental initiative ‘Not a Rule but a Discipline’ focused on the responsible disposal and recycling of plastic waste in Sri Lanka. As a part of this initiative recycle bins will be placed at Government institutions and schools to collect disposable plastic pens and […]
Nations Trust Bank Unlisted Debenture Oversubscribed Upon Opening
Nations Trust Bank announced the successful oversubscription of its Unlisted Debenture prior to its opening, aggregating LKR 5 Bn in applications. Structured, managed, and placed internally; the Bank planned to raise up to LKR 3 Bn through the issue of 30 million Unlisted, Rated, Unsecured, Senior, Redeemable Debentures at the par value of LKR 100 […]
Sri Lanka expects nearly USD 2.65bn forex inflows over next 3 months: Nivard Cabraal
State Minister of Money & Capital Markets Ajith Nivard Cabraal stresses that what is most important is the cash flow, not the Reserve level at a given time. Experienced finance managers will keep a close watch on the cash flows as they very well know that temporary fluctuations in the reserve level may occur, but […]
Hayleys Fabric cuts carbon footprint by 15-pct with Sri Lanka’s largest solar roof
Leading textile manufacturer, Hayleys Fabric further reduced its carbon footprint by 15% with the installation of the largest private sector rooftop solar power system in Sri Lanka, contributing 6,241,500kWh of power per annum to the National Grid. Installed by sister company Hayleys Fentons, the rooftop solar project was set up at Hayleys Fabric’s primary manufacturing […]
Sandra De Zoysa appointed Chairperson of SLASSCOM for 2021/2022
The Sri Lanka Association of Software and Services Companies (SLASSCOM) appointed Sandra De Zoysa as Chairperson for 2021/’22, at the 9th Annual General Meeting held recently. She succeeds PwC Sri Lanka CEO/Advisory Leader Channa Manoharan. Sandra is the Group Chief Customer Officer at Dialog Axiata PLC whose career in the ICT industry spans over […]
JAT Holdings IPO oversubscribed
The IPO of JAT Holdings was an oversubscription of 82,904,846 ordinary shares. Priced at a value of Rs. 27 per share, the IPO raised Rs.2.2 billion in funds for the company’s near term objectives of investment in enhancing the existing R&D facility to a fully-fledged, state-of-the-art facility for all coatings, setting up a manufacturing facility […]
‘s Weakening External Finances to Pressure Corporate Ratings: Fitch Ratings
Sri Lankan corporates could face rating pressure should the government further restrict imports amid weakening external finances, Fitch Ratings says in a new report. Fitch expects corporates that import finished goods in sectors that are considered non-essential to be more affected than those that import raw materials for local value addition. Consumer durable importers are […]
Sri Lanka records USD 978Mn exports in June 2021; maintains its upward trend
As per the latest statistics released by the Sri Lanka Customs, the export sector performance has been able to maintain its upward trend in June 2021 with exports increasing by 9.41 % to US$ 978.2 Mn compared to June 2020. This upward trend was evident year-on-year for the last four months. Sri Lanka’s merchandise exports […]