Category: Industry
We maintained stabilized prices for over a year despite global price increase: Litro Gas Lanka
With the COVID-19 pandemic impacting markets across the world and the currency fluctuations taking place, the global prices of LPG as one of the world’s most widely used energy sources have been volatile throughout the world. According to Argus Independent Commodity Price Reporting Agency, the leading independent provider of energy and commodity price benchmarks, rising […]
Sri Lanka lifts UK travel restriction
The temporary travel restriction introduced by the Government on travels originating from the United Kingdom to Sri Lanka on account of the new Covid -19 Variant in the UK has been lifted with immediate effect. At a meeting presided by the President, it was decided to relax the restrictions on travels from the UK subject […]
Softlogic Life grew 25-pct in 2020 to Rs.15.6Bn; PAT Rs.1.5Bn
Softlogic Life announced that despite all the difficulties associated with a thoroughly disrupted COVID year 2020, the Company grew revenues to record Gross Written Premium (GWP) of Rs. 15.6 billion, an increase of 25% making it the fastest Company to that mark. The strong growth follows a similar 25% growth that was achieved by the […]
Rated Sri Lankan corporates less exposed to sovereign than banks: Fitch Ratings
Fitch Ratings views most rated Sri Lankan corporates as less vulnerable than local financial institutions to the sovereign’s financial distress. This is because most rated corporates have a combination of strong business profiles, low leverage, sound liquidity, and limited exposure to government. On the other hand, local financial institutions’ ratings are usually constrained by the […]
Kantar to offer media monitoring service in SL
Kantar recently announced that it would start providing Media Monitoring service in Sri Lanka. The announcement comes as Kantar has agreed to acquire Nielsen’s local media monitoring business. Historically, Kantar has provided TV audience measurement in Sri Lanka. The addition of media spend monitoring positions Kantar as a key partner to Sri Lanka’s media industry. […]
Investment risks rise for Sri Lankan insurers; limited impact on regulatory capital: Fitch
Asset risk at Sri Lankan insurers has increased due to the sovereign’s weaker credit profile and the consequent lowering of national ratings of some state-owned and private-sector institutions, says Fitch Ratings in a report published today. The increased asset risk, however, will not greatly affect the regulatory capital ratios of most Fitch-rated Sri Lankan insurers […]
Policy backsliding derails Sri Lanka’s aspirations to become maritime hub
Policy experts discuss Sri Lanka’s policy towards building future port infrastructure. “Sri Lanka losing out to regional competitors because of policy inconsistency,” says Rohan Masakorala at the panel discussion hosted by the Advocata Institute on the topic වරාය සංවර්ධනයේ ඉදිරි දැක්ම:විකිණීමක් ද, ආයෝජනයක් ද? and the surrounding policy issues on the 12th of February at the BMICH, […]
Lanka Property Web says SL real estate market stable despite pandemic
“Since the turn of the year there has been an increase in real estate activity by property buyers and sellers”, said Sri Lanka’s leading property portal LankaPropertyWeb. The company stated that a comparison between the number of visits to lankapropertyweb.com during the month of January in 2020 and 2021, showed an increase of 23% while […]
Sampath Bank report slight decline in profits for 2020
Financial Performance for the Year 2020 Sampath Bank recorded a decline in Profit After Tax (PAT), from Rs 11.1 Bn in 2019 to Rs 8 Bn for the year 2020. Despite this being a 28% decline, it is nonetheless a noteworthy result against the backdrop of the COVID-19 induced economic slowdown locally and globally. Meanwhile, […]
Exemption of landing charges for Mattala & Ratmalana Airports further extended
Sri Lanka’s Cabinet nod has been received to extend the exemption of landing and parking charges for Mattala Rajapaksa International Airport and Rathmalana International Airport till July 19, 2021. At the Cabinet meeting held on 21 December 2020, the Cabinet approved to exempt international charter flights from landing charges as an incentive to attract Airlines.
PUCSL approves power purchase deal to build 300MW Kerawalapitiya LNG power plant
The Public Utilities Commission of Sri Lanka (PUCSL), the electricity sector regulator has approved the power purchase agreement to build a 300 MW Kerawalapitiya Liquid Natural Gas power plant in Sri Lanka under the new chairmanship and the board members last week (13 Feb 2021). The power purchase agreement will be signed by the Ceylon […]
John Keells IT earns highly acclaimed SAP on Azure Advanced Certification
John Keells IT, a leading boutique consulting and professional services company and one of the pioneers in driving cloud adoption in the region, has achieved the rare feat of “SAP on Azure Advanced Certification” demonstrating its long-term commitment to the leading technology partners: SAP & Microsoft. “We are very pleased to attain the SAP on […]