FITIS Welcomes Budget 2025 President Anura Kumara Dissanayake’s 2025 budget marks a transformative step in Sri Lanka’s economic recovery, placing the digital economy at the core of the nation’s growth strategy. The Hon. President, in his budget speech, affirmed that the growth of the digital economy by 2030 will reach a value of $15 billion…
The Sri Lanka Export Development Board (EDB) successfully organized an awareness seminar on the New Exporter Development Programme on 18th February 2025 at the Techno Park of Eastern University, Sri Lanka, in Batticaloa. This event marked a significant milestone in the EDB’s efforts to enhance the export potential of entrepreneurs in the Eastern Province. The…
Bloomberg – SriLankan Airlines should ideally double its fleet over the next five years, but is constrained by debt issues and the government’s poor financial situation, according to Chief Executive Officer Richard Nuttall. The carrier operates an all-Airbus SE fleet of 24 jets, split evenly between long-haul and short-haul routes. “Ideally our fleet should be…
Sri Lanka’s economic recovery in 2024 marked a significant turnaround, with most sectors of the economy showing positivity in renewal and regrowth. This resurgence, fuelled by Sampath Bank’s strategic focus on innovative solutions and customer centricity, enabled the Bank to perform outstandingly compared to the previous year. Financial Performance For the year ended 31st December…
Net Interest Income – Rs. 13 billion, up by 18% Net Fee and Commission Income – 1.90 billion, up by 24% Operating Profit before Taxes on Financial Services – 7.90 billion, up by 137% Profit before Tax – 6.03 billion, up by 159% Profit after Tax – Rs. 13 billion, up by 123% Total Assets…
Purchasing Managers’ Indices indicate expansions in both Manufacturing and Services activities in January 2025. Sri Lanka Purchasing Managers’ Index for Manufacturing (PMI – Manufacturing) recorded an index value of 59.0 in January 2025, indicating a further expansion in manufacturing activities. All sub-indices contributed positively to this improvement. Most of the survey participants from the manufacture…
Preamble Honourable Speaker, it is our pleasure to present the first National Budget of our Government to this House. The country went through its deepest and most complex socio, economic and political crisis in 2022 since independence. Although the crisis erupted in the year 2022, the underlying causes of the crisis are historical and structural….
Recommends a Dividend of Rs1.00 per share Strong YTD growth in all key financial lines:– Core Revenue Rs151.3Bn, EBITDA Rs66.3Bn and NPAT Rs12.4Bn – Core Revenue Growth at +10% YTD, EBITDA Growth at +8% YTD Recommended Dividend: Rs1.00 Per Share Total Taxes Paid to GoSL Rs47.3Bn for FY 2024 which included Rs10.6Bn in Direct and…
Top executives from the Adani Group are set to reopen discussions with the Sri Lankan government next week, just days after the company announced its withdrawal from a major wind energy project in the island nation. Adani Green Energy, led by billionaire Gautam Adani, will engage in fresh negotiations to revive two 484-megawatt (MW) renewable…
Budget debate to be held for 26 days from February 18th to March 21st Second Reading Debate to be held from February 18th to 25th Committee Stage Debate from February 27th to March 21st – Third Reading Vote on March 21 at 6.00 pm. The Second Reading of the Appropriation Bill for the year 2025…
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