Category: Industry
SriLankan Airlines adorns aircraft livery with ‘Raid Amazones 2022’ insignia
SriLankan Airlines adorns one of its aircraft with customized livery to reaffirm its status as the official airline of the much-awaited ‘Raid Amazones 2022.’ Raid Amazones 2022 is an annual sporting event that features a large number of French female athletes competing their way to victory through multiple sports events and activities against the backdrop […]
Sri Lanka needs price formula to avert future energy crisis
Regional fuel prices are significantly higher than Sri Lanka Sri Lanka pitches into darkness and its people form lines at fuel stations due to the ongoing energy crisis. Fuel, which is the single largest import accounting for 18% of the country’s total import expenditure, cost an alarming USD 3.7 billion in 2021. Since the actual […]
Nations Trust Bank records strong performance in 2021 amidst volatile conditions
The Group achieved a record Profit Before Tax of LKR 10.4 billion, for the twelve months ended 31st December 2021 – a growth of 38% compared to the previous year, despite the challenging operating environment experienced during the period. The Group recorded a Profit after tax growth of 65% supported by the decrease in the corporate tax rate. Business Growth The […]
Ceylon Chamber launches outlook 2022 report; ‘Road to recovery: Overcoming challenges’
The Ceylon Chamber of Commerce (CCC) recently launched the 7th edition of its flagship annual Outlook Report for 2022 at the Economic Outlook 2022 webinar. Titled ‘Road to Recovery: Overcoming Challenges’, the report covers key fundamentals of the global and local economic outlook, policy outlook, and private sector perspectives for the year 2022. This year’s […]
Ookla recognises SLT-MOBITEL Mobile as Fastest Mobile Network
Reiterating its excellence in providing unparalleled connectivity and superior user experience, SLT-MOBITEL Mobile was once again recognized as the ‘Fastest Mobile Network’ by Ookla, the global leader in fixed broadband and mobile network testing applications, data and analysis. The recognition is a testament to SLT-MOBITEL Mobile’s unwavering commitment to providing record speeds throughout the years […]
”’/Stable
Fitch Ratings has affirmed the National Long-Term Rating of Sri Lanka based telecom company Dialog Axiata PLC at ‘AAA(lka)’. The Outlook is Stable.
Lanwa Sanstha slated to open in March; to ease local cement shortage, boost construction
Lanwa Sanstha Cement Corporation (Pvt) Ltd, a state-of-the-art cement manufacturing facility that is expected to be one of the region’s largest, is set to commence operations in early March of 2022. The factory, which spans 63 acres, is located in Hambantota’s Mirijjawila Export Processing Zone. A BOI venture, the total capacity of Lanwa Sanstha Cement […]
Opinion: Role of divestments in overcoming present economic challenges
By Imesha Dissanayake The Government of Sri Lanka (GoSL) has very ambitious plans for the country’s economic transformation including an economic growth expectation of more than 6% during five-year period of 2022-2027. The national budget announced in 2022, forecasts public investments to be at 5.1% of GDP. A similar figure was announced during the last […]
Pan Asia Bank records post tax profit of Rs.3Bn for the year 2021, up by 50-pct; 4Q profits cross Rs.1Bn for first time
Pan Asia Banking Corporation PLC reported a remarkable performance for the year 2021 to report a Pre-Tax Profit of Rs. 4,034 million and a Post-Tax Profit of Rs.3,075 million with growth rates of 42% and 50% respectively, while demonstrating the resilience amidst challenging macroeconomic conditions. The Bank’s performance was characterised by strength and resilience, despite […]
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 […]
Time for home-grown solutions is over; Seek international support immediately: Harsha
The country is in complete disarray today. Fuel is rationed at pumps, daily power cuts across the island, shortage of dollars to import essentials including medicine, food is to be rationed next, a current Parliamentarian and former Minister said. “Collapse is imminent if we continue to go this way, it is almost similar to a […]
HNB Group profit after tax increased to Rs.20Bn, up 47-pct YoY
Hatton National Bank PLC (HNB) solidified its position as one of the most sustainable and strongest banks recording a well-rounded performance in 2021. Group Profit After Tax (PAT) increased to Rs 20 Bn, representing a growth of 47% YoY while Bank PAT improved to Rs 17.3 Bn as economic activity picked up during the year. […]