The Planters’ Association of Ceylon (PA) today announced that member Regional Plantation Companies (RPCs) increased the festival advances for their employees commencing with the Deepavali festival. Accordingly, all RPC workers received an increased festival advance from a previous Rs. 20,000 up to Rs. 25,000, reflecting a 25% increase, while staff will see a 20% increase…
Fitch Ratings: The turn of the global monetary policy cycle this year, with rate cuts in the US, the eurozone and other major economies, has been a significant contributor to investor confidence and a fairly benign global macro and credit environment, Fitch Ratings says in the latest Risk Headquarters report. However, geopolitical and political risks,…
Teejay Group, Sri Lanka’s first multinational textile manufacturer, recorded a Profit after Tax of LKR 0.9 Bn for the first half of the financial year ending 30th September 2024. The Group Revenue reached a notable LKR 32.7 billion, recording an 11% increase compared to the first half of the previous year. Gross Profit of the…
The overall rate of inflation as measured by the CCPI on Y-on-Y basis is -0.8% in October 2024 and Y-on-Y inflation calculated for the month of September 2024 was -0.5% (Table 3). The Y-on-Y inflation of Food Group increased to 1.0% in October 2024 from -0.3% in September 2024 and the Y-on-Y inflation of Non…
The Sri Lanka Export Development Board (EDB), in collaboration with the Sri Lanka Consulate General in Dubai, UAE, organized Sri Lanka’s participation at GITEX Expand North Star from October 13 to 19, 2024. This initiative featured a range of activities, including business meetings, networking sessions, and field visits across Dubai, aimed at showcasing Sri Lankan…
The 99x Group has emerged as a leading force in the global tech landscape, with seven companies from Norway, Malaysia, Sri Lanka, Brazil, and Portugal uniting to strengthen its position in product engineering services, IT consulting, and web solutions. Bringing together more than 600 employees worldwide, the group includes Seeds, LeanOn, Nextly, Cleverti, Incrementi, Clave,…
Full Support from Exporters Essential to Achieve This Goal – President President Anura Kumara Dissanayake stated that the government’s aim is to create economic independence in the country, and for this, the full support of the country’s exporters is essential. He made this remark during a discussion held at the Presidential Secretariat Yesterday (29) with…
– President’s Remarks to the Sri Lanka Banks’ Association Systematic Formalization of the Informal Economy to Ensure Public Welfare Fast-Tracking Digital Transformation and National Digital ID Implementation President Anura Kumara Dissanayake emphasized that, since neither he nor his administration has special ties or obligations to any party within the country’s development or business sectors, they…
Profit after Tax Increases by 78% Net Interest Income – 8.79 Bn, up by 18% Net Fee and Commission Income – 1.39 Bn, up by 26% Other Operating Income – 0.44 Bn, up by 189% Operating Profit before Taxes on Financial Services – 4.37 Bn, up by 49% Profit before Tax – 3.22 Bn, up…
• New Initiative Launched to Lower Electricity Costs – President Addresses Sri Lanka Chamber of Commerce Representatives • Chamber of Commerce Pledges Pro Bono Support for Economic Development President Anura Kumara Dissanayake announced that the entire country will undergo digital transformation within the next three years under his administration. He highlighted that digitization holds the…
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