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Despite challenges, SL’s positioning remains unmatched in high-end apparel manufacture
Director of Stretchline Holdings Norman Collier Globally successful manufacturing destinations for high-end apparel have three defining characteristics. Firstly, they have robust secondary supply chains – which are critical to ensuring the timely availability of all required inputs. The importance of this becomes apparent once you consider that to manufacture an item like a bra, producers […]
DIMO together with Kalmar uplifts Sri Lanka’s port and inland container terminal operations
DIMO, a leading diversified conglomerate in Sri Lanka, and Kalmar, a global industry forerunner in port and inland container terminal automation and in energy-efficient container handling solutions, are geared to enhance and uplift local container terminal operations to the next level. This partnership reflects DIMO’s commitment to continuously fuelling the dreams and aspirations of the […]
CA Sri Lanka’s 43rd national conference to influence chartered accountants to push for transformation
Amidst an unprecedented economic crisis engulfing the country, which has impacted businesses and citizens alike, the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) in its standing as the National Body of Accountants will take the lead to influence Chartered Accountants to push for transformation to help the country successfully navigate through its […]
IPS Proposals for the Interim Budget
Ahead of the presentation of the Interim Budget, the Institute of Policy Studies of Sri Lanka (IPS) has recommended policy proposals for inclusion in the forthcoming Budget. Some key policy issues and recommendations follow. Trade Policy Despite strict import controls, Sri Lanka’s trade deficit in merchandise goods widened in 2021. The slight increase was mainly […]
Port City Colombo to represent Sri Lanka at World Cities Summit 2022
CHEC Port City Colombo is representing Sri Lanka at the World Cities Summit 2022 to be held at the Marina Bay Sands, Singapore from the 31st of July to the 3rd of August 2022. This biennial global event unites city leaders and associates from across 90 countries under this year’s theme, “Liveable and Sustainable Cities: […]
President emphasizes forming an all-party government to build Sri Lanka
President Ranil Wickramesinghe stated that his objective is to form an all-party government by bringing together all political parties and to commence a new journey in order to overcome the social, economic and political challenges facing the country. President speaking at the ceremony held at the Malwathu Maha Viharaiya Uposathagarya, said: After assuming the Office […]
Political Risks Still Challenge Sri Lanka’s Emergence from Default: Fitch Ratings
The successful formation of a government under the new president, Ranil Wickremesinghe, is an important precondition for resolving Sri Lanka’s debt default, but many challenges remain as the country seeks financing support from the IMF and debt restructuring from private and official bilateral creditors, says Fitch Ratings. Full Statement The new president was confirmed by […]
JKH records EBITDA of Rs.13.33 billion in Q1; Resilient performance despite macro challenges
Summarised below are the key operational and financial highlights of our performance during the quarter under review: • Group EBITDA recorded a significant improvement to Rs.13.33 billion during the quarter under review, which is an increase of 180 per cent against the comparative period of last year [2021/22 Q1: Rs.4.76 billion]. The first quarter of […]
SLT-Mobitel announces national proposal: Focused on technology and digitally empowered citizens
– SLT-MOBITEL, the leading communication and technology service provider in Sri Lanka announced a national proposal to enhance critical services and sectors, and digitally empower citizens. SLT-MOBITEL, one of the most powerful players in the telecommunications and technology sector, cites archaic legacy systems, inefficiency, corruption, heavy operational costs and waste in critical sectors and services […]
Sri Lanka’s Runaway Inflation and the Limits of Monetary Policy
By Dr Dushni Weerakoon: The bad news on inflation keeps coming. As of June 2022, year-on-year (YOY) inflation nationally is estimated at an all-time high of 59%. Annual inflation is lagging significantly behind at around 21%, indicative of the speed at which price inflation has been spiralling in recent months. This is in sharp contrast to Sri Lanka’s previous bout of high inflation in 2008 […]
Blockchain platform SORA announced launch XOR currency in Sri Lanka
XOR – a blockchain-based currency under SORA – a blockchain-platform that holds XOR (the currency code for the cryptocurrency SORA) announced the launch of the cryptocurrency in Sri Lanka in July 2022. SORA (XOR) isn’t owned by any single nation or individual, but belongs to all of its users, and is designed as a new […]
Diplomat Podcast: Economist Dr. Ganeshan Wignaraja on SL economic crisis
July 25, 2022 (LBO) – Former Executive Director of the Lakshman Kadirgamar Institute Dr. Ganeshan Wignaraja gave a comprehensive analysis of Sri Lanka’s economic crisis to “The Diplomat” publication recently.The interview with Luke Hunt, one of the most articulate on the crisis so far, takes stock of the current situation and points a path forward. […]