Category: Economy and Markets
JKH records strong growth in EBITDA to Rs.13.7 Bn in Q3 2023/24
John Keells Holding says during the quarter under review, the Group reported a strong performance with all industry groups recording a growth in profits with the Group earnings before interest expense, tax, depreciation and amortisation (EBITDA) at 13.74 billion rupees in the third quarter of the financial year 2023/24 which is a 32 percent increase […]
EDEX Expo 2024: Empowering Sri Lankan youth with education, innovation, and sustainability
Dedicated to providing comprehensive insights into a diverse range of opportunities in higher education, training, gainful employment and entrepreneurship for the Sri Lankan youth, the EDEX Expo 2024, the country’s largest, longest running and premier Education Expo will take place from 9th to 11th February at the Sri Lanka Exhibition and Convention Center (SLECC) in […]
PRCA APAC reveals findings on Sri Lanka’s PR industry for 2024 and years to come
The APAC chapter of the Public Relations and Communications Association (PRCA), the world’s largest and influential PR body, together with its board member and communications expert Thanzyl Thajudeen carried out a survey among 31 agency leaders and executives to explore the current and future context of Sri Lanka’s PR industry. This comes as the second […]
Sri Lanka’s total exports reached USD 14.94 Bn in 2023
Sri Lanka’s total exports reached US$ 14.94 Bn in 2023 including merchandise exports (US$ 11.85Bn) and estimated service exports (US$ 3.08 Bn). It is only a 0.39 % decline when compared to the value recorded in the previous year ( US$ 14.99 Bn). The estimated increase in service exports is around 63%. Sri Lanka’s Export […]
Land price movement at its flattest in many years: RIUNIT
The Research Intelligence Unit says that during the firms extensive 21 years of tracking land prices in Sri Lanka, the current period stands out as the flattest so far. In the aftermath of the economic crisis, we noted that the anticipated rebound in land prices has proven to be a more sluggish than first expected. […]
CFA Society Sri Lanka commends the new Corporate Governance structure for listed entities
The Securities and Exchange Commission of Sri Lanka (SEC), in September 2023, released the updated Corporate Governance Regulations for entities listed on the Colombo Stock Exchange (CSE). The revisions come after nearly 15 years and apply to companies listed on the Main Board and Diri Savi Board, with a majority of the rules effective from […]
PUCSL and Environment Min ink agreement to enhance certification system for RAC and MAC Technicians in SL
The Public Utilities Commission of Sri Lanka (PUCSL) – the electricity industry regulator, signed a Memorandum of Understanding (MOU) with the Air Resource Management and National Ozone Unit of the Ministry of Environment, Tuesday aimed at establishing a comprehensive licensing system for Refrigeration, Air Conditioning (RAC) and mobile air conditioning (MAC) technicians and to provide […]
Neighbouring Countries Economic Development Cooperation Agency of Thailand extends support to SLanka
The Neighbouring Countries Economic Development Cooperation Agency (NEDA) of Thailand agreed to enhance and expand its cooperation with Sri Lanka during a discussion held between Ambassador of Sri Lanka and Permanent Representative to the UNESCAP, C. A. Chaminda I. Colonne and the Vice President of NEDA, Senior Col. Saranyu Viriyavejakul on 15 January 2024 in […]
SEC Chairman calls for Positive Mindset and Collaborative Synergies at Industry Stakeholder Meetings
Capital Market regulator, the Securities and Exchange Commission of Sri Lanka (SEC) held meaningful discussions with the Chief Executive Officers (CEOs) of stock broker firms and other Market Intermediaries in separate stakeholder engagements in January 2024. The meetings were aimed at fostering collaborative efforts to fortify the regulatory framework and operational infrastructure of the securities […]
Central Bank maintains policy interest rates at their current levels
The Monetary Policy Board of the Central Bank decided to maintain the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank at their current levels. The Board arrived at this decision following a comprehensive assessment of domestic and international macroeconomic developments in order to maintain inflation at the […]
Primary & Budget Balances move in opposite directions as interest payments increase
The Fiscal Management Report 2024 published by the Ministry of Finance, shows that the Primary Balance improved from LKR -317 Bn in the 3rd quarter of 2022 to a positive LKR 124 Bn in the 3rd quarter of 2023, as reported by publicfinance.lk. The Budget Deficit, however, worsened from LKR -1,244 to LKR -1,614, this […]
IMF Staff concludes visit to Sri Lanka; highlights introduction of a progressive property tax
An International Monetary Fund (IMF) mission team led by Peter Breuer visited Sri Lanka from January 11 to 19, 2024 to discuss recent macroeconomic developments and progress in implementing economic and financial policies under the EFF arrangement. At the end of the mission, he issued the following statement: “The economic reform program implemented by the […]