Reuters – ** Sri Lanka’s rupee ended weaker on Friday as importers purchased U.S. dollars while releasing goods after a week-long strike by customs officers that left 6,000 containers stranded at the country’s main port was called off. ** The strike by thousands of officials began a week ago in protest at the sacking of…
~ A thought-leadership By the Sri Lanka Chamber of Pharmaceutical Industry – www.slcpi.org The rapid growth of the world’s population, coupled with constant advancement in biotechnological and biomedical research, has given rise to more people needing access to frequently evolving treatment. With wealth disparity continually widening, this seemingly simplistic equation has shouldered a raft of economic,…
CEO’s Review The Group reported a consolidated revenue of Rs.48.0Bn for the nine months ended December 31, 2018, indicating a Year-over-Year (YoY) growth of 37.8%, primarily driven by our acquisition of Atlas. Group operating profit stood at Rs.4.3Bn, a growth of 45.8% over the previous financial year. The profit attributable to equity holders of the…
President’s Counsel Dr. K. Kanag-Isvaran, who is one of the country’s most respected lawyers highlighted the need for a “Tax Ombudsman” in Sri Lanka while delivering the keynote speech at the 22nd Annual Tax Oration of CA Sri Lanka on “The Tax Collector and The Rights of the Taxed.” “The need for a “Tax…
Reports 9-month net profit of Rs 1.26 billion on sales of Rs 23.0 billion Teejay Lanka PLC has achieved its fifth consecutive quarter of top and bottom line growth in the third quarter of 2018-19, demonstrating its resilience during a period of higher raw material and utility costs. Reporting revenue of Rs 23.0…
Fitch Ratings has assigned Sampath Bank PLC’s (A+(lka)/Stable) proposed Basel III-compliant subordinated debentures a National Long-Term Rating of ‘A(lka)’. The notes, which will total LKR7 billion and mature in five years, include a non-viability clause and will qualify as regulatory Tier II capital for the bank. The bank plans to use the proceeds to strengthen…
Reuters – ** Sri Lanka’s rupee ended slightly firmer on Thursday due to exporter dollar sales, while a trade union strike at customs dampened importer demand for the greenback. ** Stocks snapped a five-session winning streak to end lower as foreign investors exited from risky assets. ** A strike by Sri Lanka customs officers that…
Former long-standing Managing Director and Chief Executive Officer (CEO) of Chevron Lubricants Lanka PLC’s (LLUB) Kishu Gomes was appointed as the Chairman of both Sri Lanka Tourism Development Authority (SLTDA) and Sri Lanka Tourism Promotion Bureau (SLTPB) on Wednesday (6th February 2019) by the Minister of Tourism John Amaratunga. “We also plan to make tourism…
Sri Lanka is facing delay in receiving a US $ 300 million loan offered by Bank of China, recent media reports outlined quoting Sri Lankan government officials familiar with the negotiation, reports including international media agency Reuters noted. Reuters said that Sri Lanka is a key battleground in the tussle for influence in South Asia…
ISLAMABAD: The volume of trade between Pakistan and Sri Lanka has increased in the last few years after the signing of the free trade agreement, said Federal Minister for National Food Security and Research Sahibzada Muhammad Mehboob Sultan. Addressing a conference on ‘Enduring Friendship between Pakistan and Sri Lanka’, he said Pakistan is the second…
Video Story
