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Sri Lanka official reserves down to USD 2.36bn in January; Gold reserves down further
Sri Lanka’s official reserve assets were 2.4 billion US dollars (USD 2,361mn) by the end of January, down from 3.1 billion US dollars in December last year, the latest Central Bank data showed. By the end of January, the foreign currency reserves were 2,078 million dollars while the reserve position in the IMF was 67 […]
President instructs officials to implement new mechanism to expedite release of essential commodities
President Gotabaya Rajapaksa instructed the officials to take steps to immediately release the containers containing essential items at the custody of Customs. The President made this decision with the objective of maintaining a steady supply of essential commodities including food in the market without any shortages. The President also appointed a committee headed by Finance […]
Rapid Assessment on Health Care Waste Management handed over to Ministry of Health
In 2019, the National Audit Report on Health Care Waste Management (HCWM) pointed out that health care waste and solid waste management is a major social and environmental challenge in Sri Lanka which needs urgent attention. Working in 170 countries and territories, the United Nations Development Programme (UNDP), is the technical lead of the UN […]
Venture Engine shortlists Sri Lanka’s top fundable startups
Venture Engine, Sri Lanka’s pioneering startup acceleration program, has entered the final phase of its tenth edition with the selection of its top 10 grouping of finalists. The program’s next, and final, stage is the showcasing of these finalists to potential investors as “Sri Lanka’s Top Fundable Startups” at the Venture Engine finale, which is […]
INSEE Cement main supplier to Uma Oya Project
INSEE Cement is Sri Lanka’s leading manufacturer of cement and is the company behind renowned cement brands such as Sanstha and Mahaweli cement. Presently, INSEE Cement is the suppliers of cement to the Uma Oya Multipurpose Development Project in the Uva Province. The project includes the commissioning of a new hydropower station and irrigation infrastructure […]
RigServ opens global resource centre in SL; Plans to empower local IT sector
Supply chain and technology consulting company, RigServ, recently commenced operations in Sri Lanka via its dedicated Global Resource Centre which employs 50 subject experts in their relevant industrial areas. RigServ offers clients industry expertise as well as data-driven, impartial, and creative solutions to their most difficult situations. RigServ was founded in 2014 by operational and […]
European Union should press Sri Lanka for repeal of Prevention of Terrorism Act: Human Rights Watch
The Sri Lankan government is using the discredited Prevention of Terrorism Act (PTA) to commit prolonged arbitrary detention and torture, Human Rights Watch said in a report released today. The European Union, other trading partners, and donors, should press for time-bound action to repeal the abusive law and reject the government’s vague pledges of reform. […]
Sunshine Group 9-month revenue up 39-pct driven by Healthcare & Agribusiness sectors
Fueled by strong growth in all business sectors, diversified Sri Lankan conglomerate Sunshine Holdings PLC (CSE: SUN) reported impressive growth in top and bottom-line performances during the first nine months of the current financial year (9MFY22). During this period, the Group posted consolidated revenue of Rs. 24 billion, up by 39% Year-on-Year (YoY).Group’s Profit After […]
VIDEO: How solar energy got so cheap, and why it is not everywhere yet
A lot speaks for solar energy. It’s clean, renewable – and now even cheaper than energy from fossil fuels like coal or natural gas. Sounds pretty great, right? But it only makes up a tiny bit of global electricity production. Why don’t we use a lot more of it yet?
Hela Apparel Holdings’ records year-to-date revenue of Rs 41.6 Bn
Hela Apparel Holdings Limited (the holding company of the Hela Clothing Group) ended its third quarter on a high note, having exceeded its annual performance for FY2020/21 within the first 9 months of the current financial year. The Group recorded year-to-date revenue of Rs 41.6 billion, which represents a growth of 88% compared to the […]
Sri Lanka explores batik, handloom and local apparel opportunities in Russia
Ambassador of Sri Lanka to the Russian Federation Prof. Janitha Abeywickrema Liyanage together with the delegation headed by the Sri Lankan State Minister of Batik, Handloom and Local Apparel Products Dayasiri Jayasekara visited Russian Association of International Cooperation. The delegation was received by the Vice-Chairman of Russia-Sri Lanka Friendship Society Vladimir Polozkov and Board Member […]
Kuwait Dinar 10mn loan for construction & equipping Faculty of Medicine at Moratuwa University
A medical faculty is to be established in University of Moratuwa to support the human capital, social & economic development of Sri Lanka, by improving the quality and access to higher education in Medical Sciences and to address the needs of medical services professionals in the country, In this context, The Kuwait Fund for Arab […]