Category: Industry
Singapore Airlines Launches Boeing B787-10 on Colombo-Singapore Route
Singapore Airlines commenced operation of Boeing B787-10 Dreamliner between Colombo and Singapore on 27 March 2023. Constructed using lightweight composite materials, the 68-metre B787-10 is the longest variant of Boeing’s Dreamliner range. Passengers can look forward to a comfortable journey, experiencing large electronically dimmable windows, low cabin altitude, generous headroom, and a quiet and smooth […]
”; Outlook Negative
Fitch Ratings has downgraded Sri Lanka- based apparel manufacturer Hela Apparel Holdings PLC’s National Long-Term Rating to ‘AA-(Ika)’, from ‘AA(Ika)’. The Outlook is Negative. The downgrade is based on our forecast that Hela’s interest coverage and leverage will weaken to below our negative rating sensitivities in the financial year ending March 2023 (FY23) and FY24. […]
CEB announces planned maintenance schedule for power plants
The Ceylon Electricity Board has announced the planned maintenance schedule for CEB power plants for the year 2023 after analysing more than twenty scenarios. During the latter part of November 2022, the Ceylon Electricity Board conducted several planning exercises to prepare the electricity dispatch schedule for the year 2023. CEB further stated that they analyzed […]
Trincomalee has been identified as a potential port for green hydrogen, says President
Sri Lanka’s President points out that Trincomalee has been identified as a potential port for green hydrogen due to its proximity to the North, which has abundant sources of green hydrogen, renewable energy, and strong wind power in Sri Lanka. President Ranil Wickremesinghe said this during a meeting with investors who attended the Sri Lanka […]
We have not authorized anyone to operate cryptocurrency schemes in Sri Lanka, warns CBSL
Sri Lanka’s Central Bank says that they have not issued any licence or authorized any individual or business to operate schemes involving cryptocurrency, and has not authorized any Initial Coin Offerings (ICOs) or any variant of it, cryptocurrency mining operations, cryptocurrency exchanges, deposit-taking or custody services related to cryptocurrency or any cryptocurrency investment advisory service. […]
”’ Rating on Watch Positive following proposed disposal
Fitch Ratings has placed Sri Lanka Telecom PLC’s (SLT) National Long-Term Rating of ‘A(lka)’ on Rating Watch Positive (RWP) reflecting the potential rating upside due to weakening linkages with SLT’s parent, the government of Sri Lanka (Long-Term Local-Currency Issuer Default Rating: CC), due to the government’s plan to sell its 49.5% stake in the company. […]
Innovative Digital Marketplace to Help Sri Lanka’s Small Businesses
To expand the reach of small and medium enterprises (SMEs), including women-owned small businesses, the International Finance Corporation (IFC) is supporting the Commercial Bank of Ceylon (CBC) launch a digital marketplace in Sri Lanka, helping business owners connect with more customers locally and abroad. Named Commercial Bank LEAP, this one-of-its-kind initiative, which is supported under […]
Govt increasing tax burden on poor and working people on IMF conditions but not taxing capitalists: Eran
Oppositions MP Eran Wikramaratne has alleged that there is a bizarre situation in the implementation of the agreement with the International Monetary Fund, as the tax burden on the poor and working people was imposed even before the implementation of the IMF conditions. According to the report, the taxation of capitalists has been delayed until […]
‘s path to recovery
IMF Managing Director Kristalina Georgieva says that it is now important for the authorities and creditors to make swift progress toward restoring debt sustainability consistent with the IMF-supported program. “The authorities’ commitments to transparently achieve a debt resolution, consistent with the program parameters and equitable burden sharing among creditors in a timely fashion, are welcome,” […]
Ceylinco Life retains market leadership for 19th consecutive year in 2022
Ceylinco Life policyholders received a mammoth Rs 18.9 billion in net claims and benefits in 2022, as the Company achieved its 19th consecutive year of market leadership in Sri Lanka’s life insurance sector with gross written premium income of Rs 29.16 billion for the 12 months ending 31 st December. Premium income grew by a […]
Royal Thomian – An Outsider’s Perspective
March 19, 2023 (LBO) – I was born and schooled in the United States. In a very unlikely scenario, I ended up marrying a Sri Lankan, having a family, and settling down in Sri Lanka. In another unlikely scenario, I decided to send my boys to S. Thomas’ Preparatory school as opposed to international school. […]
Largest capacity crane in Sri Lanka unloaded at HIP
Last week, the largest capacity crawler crane in Sri Lanka was unloaded at Hambantota International Port. The crane, with a 750-ton lifting capacity, will be initially used for Hiruras Wind Power Project in Mannar. The German built Liebherr brand crane was being used in Japan and has now been imported to Sri Lanka for civil […]