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Ookla recognises SLT-MOBITEL Mobile as Fastest Mobile Network
Reiterating its excellence in providing unparalleled connectivity and superior user experience, SLT-MOBITEL Mobile was once again recognized as the ‘Fastest Mobile Network’ by Ookla, the global leader in fixed broadband and mobile network testing applications, data and analysis. The recognition is a testament to SLT-MOBITEL Mobile’s unwavering commitment to providing record speeds throughout the years […]
”’/Stable
Fitch Ratings has affirmed the National Long-Term Rating of Sri Lanka based telecom company Dialog Axiata PLC at ‘AAA(lka)’. The Outlook is Stable.
Lanwa Sanstha slated to open in March; to ease local cement shortage, boost construction
Lanwa Sanstha Cement Corporation (Pvt) Ltd, a state-of-the-art cement manufacturing facility that is expected to be one of the region’s largest, is set to commence operations in early March of 2022. The factory, which spans 63 acres, is located in Hambantota’s Mirijjawila Export Processing Zone. A BOI venture, the total capacity of Lanwa Sanstha Cement […]
Opinion: Role of divestments in overcoming present economic challenges
By Imesha Dissanayake The Government of Sri Lanka (GoSL) has very ambitious plans for the country’s economic transformation including an economic growth expectation of more than 6% during five-year period of 2022-2027. The national budget announced in 2022, forecasts public investments to be at 5.1% of GDP. A similar figure was announced during the last […]
All volumes including witness records of Easter attack hands over to Parliament
All the volumes, including the final report of the Presidential Commission of Inquiry (PCoI) into the Easter Sunday attacks and related witness records, have been submitted to Parliament, President’s Media Division said. The complete 88-volume report of the Presidential Commission of Inquiry was handed over to Speaker Mahinda Yapa Abeywardena by the Director-General of Legal […]
Pan Asia Bank records post tax profit of Rs.3Bn for the year 2021, up by 50-pct; 4Q profits cross Rs.1Bn for first time
Pan Asia Banking Corporation PLC reported a remarkable performance for the year 2021 to report a Pre-Tax Profit of Rs. 4,034 million and a Post-Tax Profit of Rs.3,075 million with growth rates of 42% and 50% respectively, while demonstrating the resilience amidst challenging macroeconomic conditions. The Bank’s performance was characterised by strength and resilience, despite […]
Resus Energy connects 8th mini-hydropower station to national grid : capacity 2.4MW
Resus Energy PLC, a forerunner in renewable energy, operating a number of small hydropower and ground mounted solar PV stations in Sri Lanka, recently connected its eighth small hydropower station to the national grid. Fed by the Madulla Oya, a main tributary of Uma Oya, and built with state-of-the-art equipment at a cost of over […]
Time for home-grown solutions is over; Seek international support immediately: Harsha
The country is in complete disarray today. Fuel is rationed at pumps, daily power cuts across the island, shortage of dollars to import essentials including medicine, food is to be rationed next, a current Parliamentarian and former Minister said. “Collapse is imminent if we continue to go this way, it is almost similar to a […]
HNB Group profit after tax increased to Rs.20Bn, up 47-pct YoY
Hatton National Bank PLC (HNB) solidified its position as one of the most sustainable and strongest banks recording a well-rounded performance in 2021. Group Profit After Tax (PAT) increased to Rs 20 Bn, representing a growth of 47% YoY while Bank PAT improved to Rs 17.3 Bn as economic activity picked up during the year. […]
Re-exportation of final 45 containers of waste material
Under the BASEL Convention, it is a direct violation to import waste between two countries, and as a result, under the initiative of the Central Environmental Authority and the Sri Lanka Customs, action has been taken to re-export the remaining 45 containers containing waste material to the UK today, the 21st of February 2022. The […]
European Union, UNDP & UNICEF join hands to launch Justice Reform Programme in Sri Lanka
The Ministry of Justice (MoJ) with funding from the European Union, along with the United Nations Development Programme (UNDP) and the United Nations Children’s Fund (UNICEF) in Sri Lanka have come together to launch the Justice Reform (JURE) Programme. This new flagship initiative, funded by the EU for EUR 18 million (approx. LKR 4 billion) […]
CSE enables local corporates to raise foreign currency denominated capital
The Colombo Stock Exchange (CSE) has enabled local entities incorporated or established in Sri Lanka to issue and list foreign currency denominated shares in the main market segment (Diri Savi and Main Boards) of the CSE. This new financing option for local companies is a result of the new strategic plan the CSE launched in […]