Category: Industry
Sri Lanka Tourism attracts over USD950Mn in investment despite pandemic
Foreign investment is a key driver of economic growth, as is the revenue generated via tourism. As one of its primary exports, tourism remains Sri Lanka’s calling card to the world. Over the last fifteen months (March 2020-June 2021) the government has attracted over $950 million in investments, dedicated to revitalising the island’s burgeoning tourism […]
UK’s CDC Group commits USD50Mn to ComBank to bolster SME lending and climate projects
Facility to target funding directly at underserved SMEs, boost jobs and promote economic and social inclusion across Sri Lanka Supports development of clean energy efficiency initiatives, underpinning Sri Lanka’s commitment to the Paris Agreement Commitment marks CDC’s first climate investment in Sri Lanka and its first direct investments in the country since 2012 The Commercial […]
”; Outlook Negative
Fitch Ratings has downgraded AMW Capital Leasing And Finance PLC’s (AMWCL) National Long-Term Rating to ‘A(lka)’, from ‘AA-(lka)’. The Outlook is Negative. KEY RATING DRIVERS AMWCL’s National Long-Term Rating is driven by Fitch’s expectation that Associated Motorways Private Limited (AMW), a large importer of motor vehicles in Sri Lanka that owns 90% of AMWCL, will […]
Facebook Marketplace Comes to Sri Lanka
Facebook has announced that Facebook Marketplace is now available in Sri Lanka, making it easier for people to discover, buy and sell items from others in their local communities. Jordi Fornies, Director of Emerging Markets, APAC at Facebook said: “We know that people are increasingly shopping online, especially during the COVID-19 pandemic. We are excited […]
Earn a mile-a-minute in Dubai with Emirates skywards
The loyalty programme has launched a special offer allowing members to earn a “Mile-A-Minute in Dubai” as the city gears up to host Expo 2020, and as the UAE celebrates its Golden Jubilee The offer is valid on all Emirates flight tickets purchased between 1 August and 31 March, for travel between 1 October and […]
Teejay Lanka steps into 2021-22 with improved Q1 performance
Teejay Lanka PLC has made an encouraging start to FY 2021-22 with solid top and bottom line growth in the three months ending 30th June 2021, shrugging off the pandemic-imposed shackles that retarded Q1 growth last year and overcoming the impact of the third wave of COVID-19 on the industry. Sri Lanka’s largest textile manufacturer […]
Airport and Aviation Services ramps up digital transformation with IFS
IFS, the global enterprise applications company, announces that Airport and Aviation Services (Sri Lanka) has successfully implemented IFS Enterprise Resource Planning (ERP) solutions to boost efficiency and transparency across its operations. The business is currently on a journey towards a digital-first infrastructure that embraces modern technology and maximizes productivity. Becoming globally connected and environmentally sustainable […]
Global tech company, HCL, to take up 80-pct of ‘The Offices’ at Cinnamon Life
Colombo’s newest state-of-the-art office tower, ‘The Offices’ at Cinnamon Life has been chosen as the hub for leading global technology company, HCL Technologies’ growth drive in Sri Lanka. Cinnamon Life is the first A-grade office tower in Colombo to attract a leading multinational company to occupy a majority of available office spaces within its premises. […]
SLT introduces e-learning platform for all SLTDA registered tourist guides
As an initiative to uplift the reviving tourism industry in the country, Sri Lanka Tourism Development Authority in collaboration with Sri Lanka Institute of Tourism & Hotel Management (SLITHM) have introduced the continuous professional development (CPD) e-learning platform to all registered guides to enhance their knowledge and skills. The launch of the continuous professional development […]
Expolanka group reports gross profit of Rs.14.4Bn
259% YoY growth in Group Profit After Tax up to Rs. 6.3 Bn 165% YoY increase in Group revenue up to Rs. 95.7Bn Logistics growth driven by surging retail demand in U.S. Led by vibrant growth in its logistics sector, Expolanka Holdings PLC, delivered another record-breaking performance during the quarter ended 30 June 2021 (Q121). […]
ICRA economic outlook for 2H 2021: Economy relapses amid the third wave
Key Takeaways Expedited vaccine rollouts in many major economies have enhanced global growth outlook for 2H 2021. Sri Lanka which was earlier expected to be a laggard, is now among the countries with the fastest vaccination rates in the world. First quarter recorded a modest economic growth (4.2%) but the rapid escalation of the third […]