In Sri Lanka’s textile sector, a deep-rooted tradition in natural dyeing spans centuries and is intertwined with the nation’s rich textile heritage. The country’s abundant biodiversity has yielded a diverse range of botanical resources, providing a wealth of natural pigments essential to the garment industry. From vivid shades sourced from turmeric, indigo, and madder root…
The Research Intelligence Unit (RIUNIT) has released a comprehensive report shedding light on the current state of the Sri Lankan Travel and Tourism sector. Despite the challenges posed by the global COVID-19 pandemic and subsequent economic crises, the data reveals promising trends in tourist arrivals and spending, indicating a gradual recovery in the industry, paving…
President Ranil officially launched the International Climate Change University (ICCU) while in the UAE. It will be good for Sri Lankans irrespective of race & religion if they understand the serious threat President is talking about. The global community realizing the seriousness of climate change is working hard for an energy revolution with low carbon…
Business Sentiment -Business Confidence in a Tailspin Biz confidence has nosedived. And we may have to tighten our seatbelts and prepare for a hard landing when businesspeople take cognisance of the budget proposals presented in parliament on 13 November. For the time being, we note that Fitch Ratings has raised concerns about the proposals, asserting…
A new IPS study highlights the critical role of public investment in achieving Sustainable Development Goals (SDGs) in Sri Lanka. The study reveals that bridging the SDG financing gap is vital, with an estimated additional investment requirement of USD 1.4 trillion, equivalent to 12.5% of GDP by 2030. Policymakers must create an enabling environment for…
The Asia-Pacific Economic Cooperation (APEC) established in 1989 is a regional economic forum with more than 20 members working for the prosperity of the people of the region through regional economic integration. It focuses on the easy commuting of community & commodities across borders. USA & China are key players of APEC. Their annual bilateral…
Lion Brewery (Ceylon) PLC (AAA(lka)/Stable), the leader in Sri Lanka’s beer market, could face more competition in the medium term following Distilleries Company of Sri Lanka PLC’s (DIST; AAA(lka)/Stable) decision to acquire beer producer Heineken Lanka Limited, Fitch Ratings says. Heineken is a distant second in Sri Lanka’s beer market for now, but we believe…
By Dr Kapila Fonseka, General Manager – ZinCaT Technology Sri Lanka’s Information Technology sector is facing a significant challenge with a surge in labor migration among its middle management. This trend primarily affects middle management, starting from senior developers, who are the most experienced individuals within IT companies. Consequently, firms struggle to find suitable replacements,…
Walter Disney founded ‘Disneyland’ in USA to earn money. The brand despite ups & downs was a success & hence expanded to Japan & other places including Egypt. Some during the budget discussions compare SL to ‘Disneyland’. Others may feel SL should be renamed ‘Pin-Lanthaya’ (services provided as charity (pin) from birth to death) &…
Tight liquidity and funding conditions, uncertainty about China’s macroeconomic outlook and property sector, and geopolitical event risk remain the core macro-credit risk themes heading into 2024, Fitch Ratings says in the latest version of its Risk Headquarters report. Despite recent data signalling continued disinflation in major developed economies, the continued resilience of the US consumer…
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