Tag: lbo
People’s aspirations for system change in governance incorporated in SJB’s 21 A: Eran
SJB Parliamentarian Eran Wickramaratne said that if the government has a genuine need to bring in a system change as demanded by the people across the country it is high time for the government, to bring in the amendment proposed by the SJB to parliament with the approval of the Cabinet of Ministers. If the […]
Take speedy actions to ensure food security: President instructs officials
Steps to formulate a National Fertilizer Policy expeditiously…. Uncultivated government lands for young farmers… Cultivation Promotion Week for all provinces jointly… Kandakadu Farm for the cultivation of essential crops including maize … Priority to agriculture, livestock and fresh-water fishing industries… Phosphate deposit is optimally utilized for fertilizer needs… President Gotabaya Rajapaksa instructed the officials to […]
SL CB reassures commitment to ensuring the availability of forex banking system for essential foods
The Ministry of Finance issued Import Control Regulations on Payment Terms No.07 of 2022, dated 06 May 2022, and to be effective from 20 May 2022, by restricting the use of Open Account Payment Terms or Consignment Account Terms, subject to conditions, when importing goods to Sri Lanka. This measure complements the various other measures […]
JKH recurring EBITDA grows 152-pct to Rs.39.26Bn for 2021/22
The Group witnessed a strong recovery momentum during the year under review with the recurring performance of most of our businesses reaching pre-COVID-19 levels. • Group revenue increased by 71 per cent to Rs.218.07 billion while recurring Group EBITDA increased by 152 per cent to Rs.39.26 billion. The significant growth in profits was driven by […]
UN assures assistance to Sri Lanka in addressing current economic challenges
The Minister of Foreign Affairs Prof. G. L. Peiris met the UN Resident Coordinator in Colombo, Hanaa Singer- Hamdy on 23 May, 2022 to discuss multiple impacts arising out of the current economic situation in the country such as supply of essential items, concerns regarding food security and livelihood matters. The Minister underscored that the Government […]
Ceylon Chamber call for few more edits to the 21st amendment to the constitution of Sri Lanka
In a letter to the Minister of Justice, Constitutional Affairs and Prison Reform the joint Chambers of Commerce has called for a further strengthening of the 21st amendment through a few more amendments necessitated by past learnings and current context to meet the aspirations of the people, including the business community, who are seeking a […]
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Fitch Ratings has affirmed the rating on SriLankan Airlines Limited’s (SLA) USD175 million government-guaranteed 7% unsecured bonds due 25 June 2024 at ‘C’. The affirmation follows the 19 May 2022 downgrade of Sri Lanka’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘RD’ from ‘C’, and the downgrade of its foreign-currency bonds issued in international markets […]
Nine cabinet ministers sworn in before President
Nine new Cabinet Ministers of the All-Party Government were sworn in before President Gotabaya Rajapaksa at the President’s House in Colombo this morning (20).They are;01. Nimal Siripala de Silva – Minister of Ports, Shipping and Aviation Services 02. Dr. Susil Premajayantha – Minister of Education 03. Dr. Keheliya Rambukwella – […]
Sri Lanka rejects motion on alleged genocide adopted in Canadian Parliament
Sri Lanka notes with regret the adoption of a motion in the Canadian Parliament on the alleged genocide of Tamils in Sri Lanka and recognizing May 18 as Tamil Genocide Remembrance Day, the islands’s Government said in a statement. “The Government categorically rejects the blatantly false allegation of genocide contained in the parliamentary motion […]
Ceylon Chamber meets Party Leaders to discuss economic and political crises
The Ceylon Chamber of Commerce officials met with the leaders of several key political parties during the last 4 days to discuss the serious economic and political challenges faced by the country. Among the leaders met were Hon. Sajith Premadasa, Leader of the Opposition and SJB, Hon. Anura Kumara Dissanayake, Leader of the JVP, Hon. […]
Sri Lankan mutual funds’ outflows rise amid economic turmoil: Fitch
The Sri Lankan mutual fund industry experienced large outflows in March 2022 with total assets under management (AUM) shrinking by more than 8% to LKR178 billion (around USD0.5 billion), based on Unit Trust Association of Sri Lanka (UTA) data, Fitch Ratings says in a new report. The country’s economic and social instability may have driven […]
ComBank Group navigates devaluation impact in complex Q1 performance
Total assets cross Rs 2 Tn., first private sector bank to achieve the milestone Mainly influenced by Rupee devaluation, loan book grows by Rs 133 Bn., deposits by Rs 234 Bn. in 3 months 3-month net operating income up 66% to Rs 28.3 Bn. Posts other operating income of Rs 11.3 Bn. primarily from realized […]