Category: Economy and Markets
Top Universities to Compete in the CFA Institute Research Challenge Sri Lanka 2023/24
CFA Society Sri Lanka is pleased to announce that teams from the University of Colombo, the University of Sri Jayawardenepura, and two teams from the University of Kelaniya have qualified for the local finals, following an extensive grading process. The finals are scheduled for 27th February 2024 at the Colombo Stock Exchange Each university team […]
Sri Lankan Exporters Optimistic on Outlook 2024, despite Challenging Global Outlook
The recently released fifth Export Barometer Survey by The Ceylon Chamber of Commerce showcases the resilience of Sri Lankan exporters despite a challenging global outlook. In a survey covering 2023 and forecasting 2024, exporters expressed confidence in their growth prospects. Amidst economic dynamics, the export sector exhibited robust growth in 2023. Exporters stressed that increasing […]
SL High Commission in London hosts ‘Sri Lanka Business Drive 2024’
The High Commission of Sri Lanka in London in collaboration with the Commonwealth Enterprise and Investment Council (CWEIC) organised ‘Sri Lanka Business Drive 2024’, an interactive Roundtable discussion on investments at the High Commission on 02 February 2024. The event was presided over by High Commissioner of Sri Lanka to the United Kingdom Rohitha Bogollagama. The […]
Atlas empowers schoolchildren to conquer their dreams through joyful learning
Inspiring education for over 60 years, Atlas has been a cherished foundation in turning students’ dreams into vibrant realities by infusing joy into their learning experiences. Atlas has gone beyond its role as a leading stationery provider in Sri Lanka, offering a holistic learning experience to schoolchildren. Over the years, Atlas has tirelessly worked towards […]
Eran: Is Sri Lanka the only country where inflation decreases when commodity prices continue to increase?
Samagi Jana Balawega MP Eran Wickramaratne said that Government by appointing a committee to review the compliance of the MoUs signed with foreign countries proves the government and the administration has no experience international relations. The President within 18 months of his coming to power has visited 14 countries and has signed several Memorandum of […]
Japan commits to Promoting Economic Governance through Anti-corruption Policy Support in SL
MIZUKOSHI Hideaki, Ambassador of Japan to Sri Lanka and Ms. Azusa Kubota, Resident Representative, United Nations Development Programme (UNDP) Sri Lanka, marked the launch of the new project titled ‘The Project for Promoting Economic Governance through Anti-corruption Policy Support’ through an official signing that took place in Colombo today, with the participation of senior government officials. […]
PetDoc wins gold and silver at NBQSA National ICT Awards
PetDoc, the trailblazer in pet health services in Sri Lanka, is thrilled to announce its recent achievements at the NBQSA National ICT Awards 2023. Recognizing PetDoc’s unwavering commitment to excellence, the prestigious Gold Award in the Health and Well-being category and the Silver Award in the Best Startup category have been bestowed upon the organization. […]
CCC Outlook 2024: Anticipated rebound depends crucially on effective debt restructuring
The 9th edition of the annual flagship Outlook Report for 2024 by The Ceylon Chamber of Commerce was recently launched at the Economic Outlook 2024 seminar. Dr. Nandalal Weerasinghe, Governor of the Central Bank of Sri Lanka, delivered the keynote address at the launch event. Compiled by the Economic Intelligence Unit (EIU) of the Ceylon […]
All Island Dairy Association raises alarming concerns about detrimental impact of VAT
The All Island Dairy Association (AIDA) has voiced grave concerns regarding the Sri Lankan government’s proposed increase in the Value Added Tax (VAT) from 15% to 18%, set to take effect on January 1st, 2024. This move, intended to broaden the tax base, could have severe repercussions for the dairy sector, a vital contributor to […]
Hidden Fees in Electronic Card Payments: A Call for Action
Sumedha Amarasinghe, the Deputy Secretary of the Association of Leasing and Debt Instalment Payers, has highlighted a significant issue with electronic card payments in a recent media disclosure. Amarasinghe noted that some institutions deduct an additional 1% to 5% from customers when they pay with an electronic card. This practice is an issue, as customers […]
Hemas Holdings reports revenue growth of 10.3-pct in 2023/24 first nine months performance
Amidst the backdrop of relatively stable operating conditions in the domestic economy, Hemas Holdings PLC (HHL) demonstrated a steady performance in the first nine months of the financial year 2023/24, achieving a cumulative revenue growth of 10.3 percent amounting to Rs. 90.2 billion. Operating profits for the period mirrored the revenue growth, reaching Rs. 8.8 […]
Relaxation of restrictions imposed on standing facilities
The Central Bank of Sri Lanka introduced restrictions on the usage of the Standing Facilities by the Licensed Commercial Banks (LCBs) under the Open Market Operations (OMOs), with effect from 16 January 2023 Accordingly, access to the Standing Deposit Facility (SDF) was limited to a maximum of five (05) times per calendar month, while access […]