A new IPS study reveals a substantial price sensitivity of beedis and smokeless tobacco products in Sri Lanka. A 10% increase in beedi prices corresponds to a 5.6% reduction in beedi consumption, while a similar price hike for betel quid is projected to lead to a 10% decrease in betel consumption. Key empirical findings from…
Smallholder farmers report profits of over one million rupees per cultivation season from 0.25 acres of land after adopting GAP. The Food and Agriculture Organization of the United Nations (FAO) modernized farms and introduced Good Agricultural Practices (GAP) to over 600 smallholder vegetable farmers in Badulla, Monaragala, and Mullaitivu districts. The initiative focused on equipping…
Hongkong Land’s strategic investment of US$400 million (HK$3.1 billion) in LANDMARK reinforces Central, Hong Kong as a world-class destination for luxury retail, lifestyle and business Hongkong Land estimates an additional US$600 million (HK$4.7 billion) capital investment from retail tenants across the LANDMARK retail portfolio Cartier, CHANEL, Dior, Hermès, Louis Vuitton, Prada, Saint Laurent, Sotheby’s, Tiffany & Co., and Van…
The Sri Lanka Bank’s Association (SLBA) has rejected a reported recent tirade against banks by two senior lawmakers, describing their remarks as “misconceived, inaccurate, misleading and unhelpful.” The SLBA, which represents all banks licensed by the Central Bank of Sri Lanka (CBSL) including state banks, public listed companies and branch offices of international banks, said…
JAT Holdings PLC, market leader in wood coatings and paint products and emerging regional conglomerate, recently announced the appointment of three new Directors (Non Board Directors): Ajith Bandara as Director – Research & Development, Dilshan Rodrigo as Director Marketing and Shamara Wanniarachchi as Director/Country Head- Bangladesh. These additions bring a wealth of expertise and experience…
Business Standard – India on Wednesday welcomed Sri Lanka’s debt restructuring agreement with a group of creditor nations and said it will continue to support the island nation’s economic recovery, including by promoting long-term investments. India is one of the co-chairs of the Official Creditors Committee (OCC) that was formed in April last year to…
By Jithendra Antonio In a historic address to the nation on June 26, Sri Lankan President Ranil Wickremesinghe announced the successful signing of bilateral debt restructuring agreements with the Paris Club, India, and China. This milestone marks a significant turning point in Sri Lanka’s recent history, demonstrating the effectiveness of strategic leadership, resilience, and international…
CFA Society Sri Lanka is proud to announce the launch of the Ravi Abeysuriya Memorial Award for Best Stock Brokering Research Team, unveiled at the 2024 Capital Market Awards. This award pays tribute to the indelible legacy of Ravi Abeysuriya, CFA, a pioneering force in Sri Lanka’s financial sector. Ravi Abeysuriya, the first CFA charterholder…
As per the provisional data released by the Sri Lanka Customs, the merchandise export performance in May 2024 amounted to US$ 960.2 million, recorded an increase of 9.4 % compared to the preceding month, April 2024. Furthermore, export performance in May 2024 decreased by 5.81 % compared to May 2023. Figure 1 shows Monthly Merchandise…
Fitch Ratings has downgraded the Maldives’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘CCC+’ from ‘B-‘. Fitch typically does not assign Outlooks to sovereigns with a rating of ‘CCC+’ or below. A full list of rating actions is at the end of this rating action commentary. KEY RATING DRIVERS Ratings Downgrade: The downgrade of the…
Video Story
