Category: Economy and Markets
Hemas Group records earnings of Rs. 3 bn, a 36-pct growth for the quarter
The Hemas Group recorded earnings of Rs. 3.0 billion, a 36.3 percent growth in consolidated earnings for the quarter with revenue increasing by 6.4 percent to Rs. 33.2 billion and operating profit increasing by 25.7 percent to Rs. 4.9 billion. Revenue growth was evident across all sectors, as the Group’s businesses leveraged efficiency improvements and […]
Sri Lanka’s DFCC’s Acuity Stake Disposal Yields Limited Capital Boost
Sri Lankan DFCC Bank PLC’s (DFCC, A(lka)/Stable) divestment of its 50% stake in Acuity Partners (Pvt) Limited (APL) is unlikely to result in a material improvement in its regulatory capital ratios or have any impact on its national rating, says Fitch Ratings. We expect the transaction, valued at LKR6.5 billion, to improve DFCC’s capital buffers […]
CA Sri Lanka’s Public Sector Wing, APFASL, Highlights Key Reforms in Procurement Guidelines 2024
The Association of Public Finance Accountants of Sri Lanka (APFASL), the public sector wing of the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka), successfully concluded a seminar and launched a training programme on the newly introduced Procurement Guidelines 2024. The event, held on 30th January 2025, brought together over 400 public sector […]
Joint Chambers and Associations proposed solutions for Port congestion crisis
In light of the ongoing challenges faced at the Colombo port, the below listed Joint Chambers, along with key trade, maritime and logistics associations, wish to propose solutions to mitigate the impact of port congestion on the nation’s economy. Further, exporters are facing potential delays with imported inputs, missed shipping opportunities, and increased processing costs, […]
Is the country prepared to harvest the potential dollar income through its rubber industry?
By Emeritus Professor Asoka Nugawela (Department of Plantation Management, Wayamba University of Sri Lanka & Former Director, Rubber Research Institute of Sri Lanka) Sri Lanka earned 930 million US$ from the export of both raw rubber and rubber products in 2023. Out of that the major share, around 900 million US$, came from the export […]
Industry veteran Saifuddin Jafferjee re-elected Chairman of JAAF
The Joint Apparel Association Forum (JAAF) held its 21st Annual General Meeting on 27th January in Colombo. Speaking at the event the reappointed Chairperson, Saifuddin Jafferjee, reflected on the achievements of the past year while emphasizing the work needed to navigate upcoming challenges in the apparel industry. “I am deeply honored to serve this incredible industry […]
Central Bank maintains Overnight Policy Rate at the current level
The Monetary Policy Board of the Central Bank of Sri Lanka, at its meeting held on 28 January 2025, decided to maintain the Overnight Policy Rate (OPR) of the Central Bank at its current level of 8.00 per cent. The Board arrived at this decision following a careful analysis of the current and expected macroeconomic […]
Sri Lanka Economic Summit kicks off today
President Anura Kumara Dissanayake will inaugurate the Sri Lanka Economic Summit organised by The Ceylon Chamber of Commerce which opens Tuesday at the Shangri La Hotel, Colombo. President Dissanayake will participate in a Fireside chat on the Government’s vision for sustainable economic progress, with the Deputy Vice Chairman of the Ceylon Chamber Bingumal Thewarathanthri. Day […]
EDCM Resumes Operations after 28 Years; targeting USD 36 Bn in Export Revenue by 2030
In line with the new government’s policy of “A Thriving Nation- A Beautiful Life,” President Anura Kumara Disanayake directed officials to take the necessary steps to increase export revenue to $36 billion by 2030. The President expressed these views during the meeting of the Export Development Council of Ministers (EDCM), held today (27) at […]
Total exports for December 2024 increased by 9.21-pct compared to 2023
As per the provisional data released by the Sri Lanka Customs, the merchandise export performance in December 2024 amounted to US$ 1,042.5 million, reflecting an 4.06% increase compared to December 2023. This was mainly due to the increase in earnings from export of Apparel & Textiles, Tea, Rubber based products, Coconut based products, Spices & […]
Quarterly Headline Inflation Projected to Hit Target Range of 5-pct ±2-pct by Q3 2025: CBSL
According to a recent report submitted by the Central Bank of Sri Lanka (CBSL), quarterly headline inflation is projected to reach the target range of 5% ±2% by the third quarter of 2025. This report, mandated by Section 26(5) of the Central Bank of Sri Lanka Act, No. 16 of 2023 (CBA), was submitted to […]
After A/L? “Meet your lecturer” at NSBM Green University this weekend
NSBM Green University, Sri Lanka’s premier degree-awarding institute, is hosting a special event this weekend for after A/L students to plan their future with the right guidance. NSBM’s “Meet Your Lecturer” Guidance Programme will take place on January 25–26, at its picturesque university premises in Homagama. This special event is designed for after A/L students […]