The Asian Development Bank (ADB) has released an independent evaluation report that assesses its $5.5 billion program for Sri Lanka in the 10 years to the end of 2015. The program made a substantial contribution to expanding infrastructure services in the country especially in lagging regions and former conflict-affected areas. ADB’s support for former conflict-affected…
Singer (Sri Lanka) PLC Group’s financial results in the 3rd Quarter of 2016 continued its strong growth momentum on Revenue and Net Income. At the end of 3rd Quarter, the Group reported a 22% increase in Revenue amounting to Rs. 33.1 Billion. This reflected a commendable 59% growth over the last two years. The Group’s…
Achilleion by Blue Mountain Apartments, the first ever 7-star luxury apartment building in Sri Lanka is ideal for homeowners seeking a high ROI on their investment. Located in the heart of Colombo 4 next to the shopping mall, Majestic City, Achilleion is set to make a lasting mark on Colombo’s skyline and will feature all-new…
IMF Executive Board completed the first review of Sri Lanka’s Extended Fund Facility (EFF) arrangement, which enables the disbursement of about US$162.6 million. The reinstatement of the amendments to the value added tax will help boost revenues, while the 2017 budget proposal should strengthen government finances. On November 18, 2016, the Executive Board of the…
Public Utilities Commission of Sri Lanka (PUCSL) issued a directive expressing its grave concerns to the Ceylon Electricity Board (CEB) today (18), over the delay in constructing the power plants according to the approved Least Cost Long Term Genaration Expansion Plan (LCLTGEP). “The Public Utilities Commission of Sri Lanka approved the LCLTGEP on 15th of…
Sri Lanka’s historic craft traditions are set to go hi-tech while the craftsmen themselves are set to receive international craft exposure. And the country’s national crafts expo series has for the first time, expanded to include SAARC region’s arts and crafts. “It is time we bring in new technologies to this sector. Together with our…
Reuters – China’s Alibaba Group Holding Ltd (BABA.N) and Tencent Holdings Ltd (0700.HK) rallied behind Beijing’s recently-imposed cyber security law on Thursday, following criticism of it from overseas technology rivals. The country’s two tech giants also urged closer cooperation between the public and private sectors at China’s third World Internet Conference, which has focused on…
Perceived Economic Opportunity PEO: September, 2016 This brief report of the Perceived Economic Opportunity (PEO) presents the analysis of a random survey carried out using a sample of 400 men and women in September 2016 covering all districts in Sri Lanka on their expectations of economic prospects in the coming 12 months. Status of the…
The Securities & Exchange Commission (SEC) has decided to relax the regulations on the Minimum Public Float in listed companies in Sri Lanka. According to the new SEC regulations, there would be no necessity for a minimum public float for public companies listed under the main board and with a Rs. 10 billion adjusted threshold…
HNB continued its trailblazing performance in 2016 with the Group’s nine month PAT growing by 54.2% to exceed Rs 11 Bn. Group performance mirrored that of the Bank which reported an increase of 52.6% Year-on-Year (YoY) in profit before VAT and taxes to Rs 17.3 Bn and an increase in PAT by 48% YoY to…
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