Category: Economy and Markets
Litro Gas Lanka purchases 25 acres to set up Oxygen Plant
As the country experiences an increasing need for oxygen to treat COVID-19 affected patients, the health authorities have conveyed to the Presidential Task Force that a greater need is likely to occur for oxygen. The companies supplying oxygen to the market at present are able to meet the current daily requirements for 90 metric tonnes. […]
SEC grants extension to Listed Companies to release financial statements
The Securities and Exchange Commission of Sri Lanka (SEC), having considered the contents of the letter dated 28th May 2021 of the Colombo Stock Exchange (CSE) focusing on the inability of Listed Companies to release the Annual Reports and the Financial Statements in terms of the Listing Rules of the CSE under the prevailing situation […]
President instructs to tow ‘X-PRESS PEARL’ vessel into deep seas
Sri Lanka’s President Gotabaya Rajapaksa has instructed officials a short while ago to tow the X-PRESS PEARL container ship into deep seas off the Colombo Harbour. The decision comes following a meeting with high level officials and the President. Minister of Ports and Shipping Rohitha Abeygunawardena Tuesday informed the President of all details surrounding the […]
CCPI based inflation increased to 4.5-pct in May 2021
Headline inflation, as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index has increased to 4.5 percent in May 2021 from 3.9 percent in April 2021 driven by monthly increases of prices of items in both Food and Non-food categories. Accordingly, Food inflation (Y-o-Y) increased to 9.9 percent in May 2021 from […]
” to place knowledge at the fingertips of entrepreneurs
Dialog Axiata PLC launched Diriya .lk, a free, trilingual online knowledge portal. This homegrown website features a comprehensive knowledge base sourced from reputable contributors including the International Finance Corporation (a member of the World Bank Group) and local collaborations with renowned government and private sector organisations. Powered by Sri Lanka’s premier connectivity partner, Diriya .lk is […]
First Capital records highest ever PAT of Rs. 2.09 Bn
First Capital Holdings PLC recorded a Consolidated Profit after Tax of LKR 2.09Bn for the financial year 2020/21. The results show a significant growth compared to Consolidated Profit after Tax of LKR 1.07Bn recorded in the previous year. The Total Comprehensive Income recorded for year 2020/21 is LKR 2.01Bn compared to LKR 1.04Bn reported in […]
Govt and ADB sign USD200Mn loan agreement for rural road development
The Asian Development Bank (ADB) and the Government of Sri Lanka recently signed a $200 million loan agreement for the Second Integrated Road Investment Program Tranche 3 to continue ADB’s assistance to upgrade Sri Lanka’s rural road network connecting vast rural populations to jobs and services. “Economic growth is hindered by poor transport infrastructure, particularly […]
Thinking about investing in the Northern Province?
By Jekhan Aruliah A few years ago I was speaking with a main board director of one of Sri Lanka’s largest companies. I asked him, a Jaffna Tamil gentleman approaching retirement, why his company still had not invested in the North several years after the war had ended. What he said put simply is there […]
Healthcare & Consumer propel Sunshine Holdings’ FY21 performance amidst pandemic
Diversified Sri Lankan conglomerate Sunshine Holdings (CSE: SUN) recorded resilient revenue and profit growth in a pandemic-affected macroeconomic environment, reporting notable top-line and bottom-line performances growth during the year ended 31 March 2021 (FY20/21). Group’s Healthcare and Consumer sectors led growth while healthcare segment remained the major contributor to total Group revenue in FY21. […]
State Ministry of Regional Cooperation launches Creative Economy Programme
The State Ministry of Regional Co-operation has launched a “Creative Economy Programme” with the view towards contributing to the country’s economy and promoting Sri Lanka’s cultural heritage. The ‘creative economy’ is a rapidly expanding segment of the global economy and has made a crucial contribution towards generating employment, income and exports. Based on creativity, it […]
USD 200Mn Financial Assistance from ADB for Second I-road Program
Bridging the urban and rural gap by providing services and infrastructure facilities equally across all segments of the country is one of the key focus of the Government Policy Framework. Developing transport network to ensure an efficient and environmentally friendly public transport system will support achieving this envisaged target of the Government. Accordingly, the Government […]
Second stock of Sinopharm added to vaccination drive from today
President Gotabaya Rajapaksa has instructed that the second stock of 500,000 Sinopharm vaccine doses received as a gift from the Chinese Government, be used in the vaccination drive from today (26). Accordingly, plans have been made to distribute the vaccines among several districts based on priorities recommended by the health sector. The SriLankan Airlines flight […]