Category: Industry
Opinion: Rejuvenating waste plastic bottles, a universal treasure
By Michael F. Perera Valuable resources are extracted every day to develop convenient products such as bottles, containers and more. As the extraction of virgin resources rapidly depletes the availability of such, it is high time a sustainable alternative is fetched, to ensure longevity and liveability for future generations. With the prices for virgin material […]
State Minister Cabraal visits Qatar to explore means to expand economic cooperation
A Sri Lankan delegation headed by the State Minister of Finance, Capital Market and State Enterprise Reforms Ajith Nivard Cabraal visited the State of Qatar recently. The Embassy of Sri Lanka in Doha organized a series of meetings for the State Minister Cabraal and the accompanying Sri Lankan delegation from the Central Bank of Sri […]
Seylan Bank records Rs.1Bn PAT in 2021 Q1 despite Covid challenges
Seylan Bank made a steady start in 2021 by posting a Profit After Tax (PAT) of LKR 1Bn in Q1 2021 amidst macro-economic challenges brought in by the COVID-19 pandemic. Statement of Financial Performances Interest income recorded a decline due to the lower interest rates and moderate book growth but net interest margin showed a […]
NCPI based inflation increased to 5.1-pct in March 2021
Headline inflation as measured by the year-onyear (Y-o-Y) change in the National Consumer Price Index (NCPI, 2013=100)1 increased to 5.1 percent in March 2021 from 4.2 percent in February 2021. This was due to the statistical effect of the low base prevailed in March 2020. Meanwhile, Food inflation (Y-o-Y) increased to 8.8 percent in March […]
ADB projects Sri Lanka’s economic growth to rise to 4.1-pct in 2021
The Asian Development Bank’s (ADB) flagship annual economic publication, the Asian Development Outlook (ADO) 2021, forecasts a significant rebound in Sri Lanka’s economy as domestic and global economic activity strengthens and vaccination campaigns gather momentum domestically and abroad. ADB projects Sri Lanka’s economic growth to rise to 4.1% in 2021 and moderate to 3.6% in […]
Prime Lands Residencies announces virtual investor forum for upcoming IPO
Prime Lands Residencies, the condominium property arm of Prime Group, announces the first ever Virtual Investor Forum for its upcoming Initial Public Offering (IPO). Extending its invitation to investors and market participants, the Prime Lands Residences Virtual Investor Forum will be held via Zoom on the 28 th of April 2021, 4.00pm onwards. The Initial […]
World Bank reassures support for Sri Lanka to build back better from COVID-19
The World Bank’s Country Director for Maldives, Nepal and Sri Lanka, Faris Hadad-Zervos, concluded a successful visit to Sri Lanka Sunday where he reiterated the Bank’s commitment to support the islands efforts towards recovery and to build back better from the COVID-19 shock. Based in Kathmandu, Nepal, this latest mission followed the Country Director’s introductory […]
SL signs agreement to implement Sri Lanka transit card
Revolutionizing the transport sector, the Ministry of Transport and the Central Bank played lead roles to get the key stakeholders to sign a four-party agreement to introduce Sri Lanka Transit Card (SLTC) recently. The SLTC initiative, which had been in the drawing board for many years will finally come to light in line with manifesto […]
Sri Lanka’s tech startup program spiralation opens for 2021 applications
Sri Lanka’s apex Government body in driving the tech-startup ecosystem, the Information and Communication Technology Agency of Sri Lanka (ICTA) is now calling applications for its national startup initiative ‘Spiralation’ for the ninthyear running. The Spiralation series has so far supported more than 90 successful startups across multiple industry verticals -including health, finance, agriculture, education […]
ICRA Lanka: Low-interest rates, Who are the winners and losers?
Key Takeaways § Price increase in treasuries have helped primary dealers and banks to realize substantial capital gains as much as 40-to-60 percent from March 2020 price levels. § Equities attracted a large number of local investors, as historically low interest rates on fixed income assets prompted them to seek alternative investments. Investors saw their portfolio valuations […]
ComBank becomes Sri Lanka’s first carbon-neutral bank
The Commercial Bank of Ceylon has become the first Sri Lankan bank to achieve carbon neutrality for the entirety of its operations, encompassing all 268 branches and its head office – a monumental milestone in the Bank’s commitment to the environment. Becoming a net-zero carbon company was one of Commercial Bank’s Green Goals, to be […]
Only solution for COVID-19 pandemic is vaccination: Cant afford lockdown
Sri Lanka’s President says only a vaccine can end the COVID-19 pandemic. Developing countries such as Sri Lanka cannot take lockdown measures or impose curfews that obstruct the economic activities of the country, the President’s office said issuing a statement. “The majority of our country’s income earners depend on informal livelihoods. Therefore, while the government […]