The “Trade Delegation to Australia”, organized by the Colombo Chamber of Commerce (CCC™) was concluded recently amidst much positive response. The delegation was organized as means of creating the necessary background for local SME entrepreneurs to enter the international market and it managed to successfully secure a number massive foreign investments for Sri Lanka. The…
Gulf Times – Sri Lanka is keen on importing liquefied natural gas (LNG) from Qatar as part of government policy to shift to clean energy, Minister of City Planning and Water Supply Rauff Hakeem has said. “In our energy sector, LNG-generated power plants are going to be the next futuristic power generation option. In order…
Fitch Ratings has assigned Sri Lanka-based National Insurance Trust Fund Board (NITF) a National Insurer Financial Strength Rating (IFS) and National Long Term Rating of ‘AA-(lka)’. The Outlook is Stable. NITF’s ratings reflect strong ties with the government of Sri Lanka (B+/Negative), a strong business profile as the only reinsurer in the country, high capitalisation…
CA Sri Lanka, SAFA, World Bank and ADB deliberates on Accrual Accounting for South Asia As Accrual Accounting continued to gain ground, South Asia too has begun to extensively deliberate on adopting this methodology for the public sector during a high profile event organised by the Institute of Chartered Accountants of Sri Lanka (CA Sri…
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…
Video Story
