Approval of the Cabinet has been granted previously to implement a Multi- Phase project on Climate Resilience covering the rivers of Mahaweli, Kelani, Malwathu, Ging, Nilwala, Aththanagalu, Mundeni Aru and the river basins of Kala oya, Deduru Oya, Maha Oya and Gal Oya. The 8-10 year project will be carried out in three phases, with…
Sunpower Renewables (Pvt) Ltd, incorporated in 1987 and a trailblazer in the energy management and power generation sector in Sri Lanka, has added yet another first to its long list of achievements by becoming the first and only megawatt installation company to connect on the recently introduced Solar Code by the CEB in Srilanka ….
Caps off a successful year with a whopping 30% increase in profit Leading energy company and subsidiary of Lanka Ventures, the LVL Energy Fund PLC, surpassed its outstanding financial performance in the previous year, by posting Profit after interest and tax of Rs. 571 million in 2018/19 compared to Rs. 439 million in the previous…
Fitch Ratings has upgraded Sri Lanka Insurance Corporation Limited’s (SLIC) Insurer Financial Strength (IFS) Rating to ‘B+’ from ‘B’. The Outlook is Stable. The Under Criteria Observation status on the IFS Rating has also been removed. Fitch has simultaneously upgraded SLIC’s National IFS Rating to ‘AAA(lka)’ from ‘AA+(lka)’ with a Stable Outlook. KEY RATING DRIVERS…
According to the annual report 2018 of the central bank of Sri Lanka the employees Provident Fund has made a net profit of Rs. 190.6 billion , 6.1% reduction from the previous year, and credited Rs.194.6 billion to the accounts of the EPF members at an interest rate of 9.5% compared to 10% paid in…
Sri Lanka Tourism, Sri Lanka Association of Inbound Tour Operators (SLAITO), and The Hotels Association of Sri Lanka (THASL), have joined hands with Sri Lankan Airlines to launch promotional packages to boost the Indian market. “Our tourist sites and hotels are fully operational, and Sri Lanka Tourism is looking forward to welcoming visitors,” stated Tourism…
Huawei announced that it was back in business with Google’s Android Q, Bluetooth, SD Association and the Wi-Fi Alliance In light of the U.S. trade ban, Huawei was left in the dust by numerous software companies and service providers. Since the release of the trade blacklist by the Trump administration on May 16, Huawei Technologies…
Will Improve Access to Blood, Vaccines and Life Saving Medicine While Sri Lanka healthcare is renowned to be one of the best in the region, the recent Easter Sunday attacks highlighted a major gap in need of urgent attention – emergency delivery of lifesaving medicine to people in dire need of help. The unprecedented simultaneous…
The Batticaloa factory of leading Sri Lankan apparel solutions provider, Brandix, is the world’s first apparel manufacturing facility to achieve ‘Net Zero Carbon’ certification. This signifies that the Brandix factory in Batticaloa has completely neutralized its environmental impact through carbon dioxide emissions by being highly energy efficient and using on-site renewable energy resources. The…
Reuters – Sri Lankan shares fell for a third straight session on Tuesday and closed at their lowest in more than two weeks in dull trade, while the rupee ended slightly lower, market sources said. ** On Friday, the central bank cut its key interest rates to support its faltering economy as overall business and…
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