Category: Featured
Resus Energy connects 8th mini-hydropower station to national grid : capacity 2.4MW
Resus Energy PLC, a forerunner in renewable energy, operating a number of small hydropower and ground mounted solar PV stations in Sri Lanka, recently connected its eighth small hydropower station to the national grid. Fed by the Madulla Oya, a main tributary of Uma Oya, and built with state-of-the-art equipment at a cost of over […]
Local retail industry: Hardest hit by FOREX crisis calls for solutions
Sri Lanka Retailers Association Retail industry constitutes 23% of the country’s GDP and is hardest hit by the ongoing FOREX crisis The wider eco system of employees, suppliers, farmers and consumers of Sri Lanka impacted by the ongoing crisis and is pushing businesses to the brink of collapse Goods for sale, raw materials and basic […]
‘ in a manner that does not affect public service: President
Establish a Nursing University before the end of May … Promotions with retrospective effect Steps to provide uniform allowance … President Instructs officials “Health care services, including medicine and nursing, are highly valued. Understanding the financial situation in the country take steps to provide approved nurses’ issues in a manner that does not affect the […]
24 Sri Lankan companies honoured at 25th SAFA
A total of 24 Sri Lankan companies were honoured for their excellent annual reporting and for also promoting transparency, accountability, and governance in financial reporting at the 25 th Best Presented Annual Report Awards of the South Asian Federation of Accountants (SAFA).The prestigious South Asian awards ceremony was hosted by the Institute of Chartered Accountants […]
Opinion: Sri Lanka needs GSP+ now more than ever
By Felix Fernando Much has been said of the potential economic costs to Sri Lanka, of losing the Generalised Scheme of Preferences (GSP) Plus trade concessions to the European Union (EU). While these costs will be high, the social and human costs are likely to be even greater. Considering official statistics for 2021, available up […]
“Opposition calls on Govt for urgent dialogue with them,” MP Harsha
Opposition parliamentarians have urged President Gotabaya Rajapaksa to initiate a dialogue with them to better understand the current economic issues facing the nation and find solutions together. “We are all in this together,” Dr. Harsha De Silva, an opposition member of parliament said addressing a media briefing yesterday. “The Governor of the Central Bank reiterates […]
“Growing sense of insecurity among people despite years of development growth,” UN report
Global development progress does not automatically lead to a greater sense of security, according to a new United Nations Development Programme (UNDP) report on human security released Thursday. New data and analysis in the report, New Threats to Human Security in the Anthropocene, shows that people’s sense of safety and security is at a low […]
Mitigating COVID impacts on child development outcomes in SL: World Bank
By Chiyo Kanda , World Bank Country Manager for Maldives and Sri Lanka COVID-19 has resulted in the worst health, social and economic crisis of our time. From the loss of life and its impact on communities, to the widespread economic instability and job loss, the devastating impacts of the pandemic are being felt across […]
SL aims to establish FTAs with most Southeast Asian countries, Min Balasuriya
Significant strides in establishing Free Trade Agreements with Bangladesh and the Maldives, together with existing FTAs will pave the way to initiate FTAs with most Southeast Asian countries by next year, enhancing Sri Lanka’s position as an attractive destination for Foreign Direct Investment, State Minister of Regional Cooperation, Hon. Tharaka Balasuriya stated recently. Speaking at […]
Hemas Group revenue up by 21.9-pct over last year
Hemas Holdings PLC (HHL) recorded a Group revenue of Rs.57.7 billion, an increase of 20.5 percent over last year. The underlying cumulative operating profit of Rs.4.9 billion, excluding all disposed entities, reported an increase of 4.3 percent over last year in spite of profitability pressure experienced across most parts of the business due to input […]
”; Outlook negative
Fitch Ratings has downgraded Singer Finance (Lanka) PLC’s (SFL) National Long-Term Rating to ‘A(lka)’ from ‘A+(lka)’. The Outlook is Negative. The agency has also downgraded SFL’s outstanding senior unsecured debt to ‘A(lka)’ from ‘A+(lka)’, and its outstanding subordinated unsecured debentures to ‘BBB+(lka)’ from ‘A-(lka)’. KEY RATING DRIVERS NATIONAL RATING The downgrade on SFL’s rating is […]
Q3 performance at JKH Group sees turnaround in Leisure business
Summarised below are the key operational and financial highlights of our performance during the quarter under review: • Group EBITDA recorded a significant increase of 126 per cent to Rs.9.53 billion during the quarter under review against the comparative period [2020/21 Q3: Rs.4.21 billion]. • The Group’s businesses recorded strong growth in profitability compared to […]