A new bridge would be constructed across the Rajagiriya-Nawala Canal at a cost of Rs. 1.6 billion, the Government Information Department said yesterday. Limited competitive bids were called to award the contract for the construction of a new bridge across Rajagiriya – Nawala canal connecting Angampitiya Road at Ethulkotte and School Lane, Rajagiriya at Nawala. Accordingly, the proposal…
As part of Team Europe’s response to the COVID-19 pandemic, 11 members of EDFI, the Association of European Development Finance Institutions, are strengthening cooperation with the European Investment Bank (EIB) to create a new dedicated COVID-19 financing initiative through the existing European Financing Partners (EFP) scheme. The EUR 280 million initiative will support financial institutions…
Dialog Axiata, Sri Lanka’s premier connectivity provider, announced the launch of 5G roaming that would enable Dialog subscribers to roam on 5G networks while overseas. With 5G outbound roaming, Dialog customers with 5G compatible handsets will be able to enjoy data speeds up to 1 Gbps while roaming with networks partnered with Dialog for 5G…
The Ceylon Tobacco Company’s performance in the three months ended 30th September 2020, showed a healthy recovery reverting to nearly early 2020 pre-pandemic levels and posted a growth in sales volumes in comparison to the previous quarter of the year due to countrywide resumption of economic activities from mid-May onwards, the company said in its latest quarterly financials….
Rating agency ICRA Lanka stated that based on its productive models, Sri Lankan economy would contract by 8.2% – 10.9% in 2020. Issuing its quarterly economic update, ICRA Lanka, which is a subsidiary of Moody’s Investor Services stated that it earlier projected a contraction of 1.9% as the base case and -3.3% as the protracted…
The Hayleys Group delivered a record profit in the first six months of FY 2020/21, with pre-tax profit nearly tripling to Rs. 5.52 billion compared to the corresponding period of last year. The period under review reflects the strongest six months performance in the Group’s operating history and is underpinned by solid improvements in the…
Keells Supermarkets today (10) released an official statement announcing that three of its team members from the Thimbirigasyaya store and one team member from the Havelock Road store have tested positive for COVID-19. ” This was identified as a result of the random PCR tests carried out on Sunday 08 November 2020.” the statement said. “Hence,…
Sri Lanka will set up a pharmaceutical manufacturing zone in Hambantota, the state information office stated. The Presidential Task Force for the economic revival and eradication of poverty identified the pharmaceutical manufacturing industry as a sector that could attract Foreign Direct Investments as well as a field that possess a potential for earning foreign exchange. Hence,…
The Cabinet of Minister has granted approval to take necessary measures to sell the paddy stocks in the possession of the District Secretaries/Government Agents and paddy stocks owned by the Paddy Marketing Board through Sathosa outlets to the consumers under the controlled price. The decision was taken considering the current rice shortage in the market and…
The convincing win by the SLPP at the general election to cement the win at the presidential election seem to have failed to strengthen hope on economic opportunities in the face of a possible second wave of the pandemic. Methodology The PEOI is calculated based on data collected on an island-wide random survey of face-to-face…
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