The macro-economic slowdown in the aftermath of April attacks was further compounded by the contraction of business and trading activity, declining investor confidence, and falling consumer purchasing power. Deficiency in implementing policy decisions to restore investor sentiments and rejuvenate tourism and other key sectors affected by the Easter attacks impacted consumer demand. As Softlogic Holdings…
The Central Bank of Sri Lanka (CBSL) disclosed that Prosperity, measured by the Sri Lanka Prosperity Index (SLPI), which is a composite indicator that measures and compares the level of prosperity of the country and across its provinces, has improved to 0.783 in 2018 from 0.548 recorded in 2017. All three sub-indices of SLPI, namely…
According to the Sri Lanka Purchasing Managers’ Index (PMI) released by the Statistics Department of Central Bank, manufacturing activities increased to an index value of 57.6 in October 2019, compared to September 2019. This expansion in manufacturing PMI was mainly attributable to the increase in Production and New Orders, especially in manufacturing of food &…
Together with 6 international travel bloggers & Influencers from UK, Netherlands, Singapore, India, USA, Sri Lanka Tourism’s Blogger Programme kicked off the very first “Destination Promotional Familiarization Tour with Nature Concern “initiative by planting 200 trees within the areas of Badulla District (Alugolla Hill) where the area was affected by Soil Erosion & Landslides. Dave…
Sri Lanka’s geographical locational advantage between Singapore and the Middle East, and the availability of a new deep-water Port in Hambantota make the island an optimum location for establishing export oriented Petroleum and other commodity processing facilities. Promoting the country’s prospects as an investment destination against this backdrop, the BOI’s efforts have resulted in an…
9-month gross income up 11% to Rs 112.359 billion Pays Rs 10.7 billion as taxes for 9 months Records net profit growth of 21.2% for Q3 2019 Significant improvements in the third quarter, which positively impacted its year-to-date performance, have enabled the Commercial Bank Group to post creditable results for the nine months ended 30th…
Piramal Glass Ceylon PLC has successfully completed the first half of FY20 with its revenue crossing Rs.3.5 Bn mark & PAT of Rs. 95 Million. The half-yearly turnover stands at Rs 3,527 Mn contributed by Rs. 2,476 Mn from the Domestic Market & Rs. 1,051 Mn from the International Market. The Sales for the quarter…
Reuters – Sri Lankan shares ended weaker on Thursday, edging lower from their near one-week high hit in the previous session, as investors sold healthcare and telecommunication shares ahead of Saturday’s presidential vote. ** Campaigning for the polls ended on Thursday. ** Though wartime defence chief Gotabaya Rajapaksa, who is backed by majority Sinhala Buddhists,…
Enables upgrade of voice and data experience Sri Lanka’s most preferred telco brand among youth, Bharti Airtel Lanka (“Airtel Lanka”), announced that it had secured the allocation of 5MHz of the 900MHz spectrum band from the Telecommunications Regulatory Commission of Sri Lanka (TRCSL). The allocation was on an “administrative basis” and based on a pre-published…
The Government of Sri Lanka and the Asian Development Bank (ADB) entered into a Framework Financing Agreement on 14th August, 2017 with regard to the financial arrangements for the Second Integrated Road Investment Program. The investment program will improve the accessibility to the road network from rural areas and thereby increase the contribution of the…
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