Marking a moment of historical significance, Sri Lanka received its first ever Geographical Indication (GI) certification when the European Union (EU) Commission on 02 February,2022 granted GI status to Ceylon Cinnamon. The outcome was a result of a painstaking, decade-long, arduous endeavour led by the Sri Lanka Export Development (EDB) under the Ministry of Trade…
Prime Lands Residencies PLC (PLR) has made a profit after tax of LKR 1,158 million for the 9-month period ended FY 2021/22 while maintaining a profit after tax of LKR 450 million for Q3 of FY 2021/22. Commenting on the results, Co-Chairman Mr. Brahmanage Premalal said, “It has been a remarkable achievement for us in…
Hela Apparel Holdings Limited (the holding company of the Hela Clothing Group) ended its third quarter on a high note, having exceeded its annual performance for FY2020/21 within the first 9 months of the current financial year. The Group recorded year-to-date revenue of Rs 41.6 billion, which represents a growth of 88% compared to the…
The Joint Apparel Association Forum (JAAF), the apex body of the Sri Lankan apparel industry, announced the appointment of respected industry veteran, Yohan Lawrence, as its new Secretary General. Lawrence, who counts over 20 years of experience in senior management positions in the apparel sector as well as in leadership positions in prominent industry associations,…
On January 24, 2022, Ambassador of Sri Lanka to the Russian Federation Prof. Janitha Abeywickrema Liyanage together with the delegation headed by the Sri Lankan State Minister of Batik, Handloom and Local Apparel Products Dayasiri Jayasekara visited Russian Association of International Cooperation. The delegation was received by the Vice-Chairman of Russia-Sri Lanka Friendship Society Vladimir…
Sri Lanka Insurance upholds its leadership position again as the market leader of the General Insurance sector for the year 2021 reaffirming the supremacy of the state insurance giant. The flagship brand “Sri Lanka Insurance Motor Plus” also continued its tradition of leadership being the leader of the motor insurance market. In the year 2021…
The Silk Road Journal by Mahika Ming The Chinese people all over the world are celebrating the 2022 Spring Festival or the Chinese New Year. Chinese President Xi Jinping also extended festival greetings to all Chinese people encouraging them to build China into a great modern socialist country in all respects. The Chinese are ending the…
Net profit improves by 23% to Rs 1.7 billion with higher productivity reducing impact of rising raw material costs Improved demand from the region and enhanced capacity have helped Teejay Lanka PLC to post Group revenue of Rs 36.1 billion for the nine months ending 31st December 2021 and record strong topline growth of 64%…
Financial Year 2021/22 – First Nine Months Performance Chief Executive Officer’s Review Hemas Holdings PLC (HHL) delivered a strong and a resilient first nine months amidst a challenging operating environment. The cumulative Group revenue stood at Rs.57.7 billion, an increase of 20.5 per cent over last year. The underlying cumulative operating profit of Rs.4.9 billion,…
January consumer prices rise 14.2% vs 13.2% survey median Central bank raised borrowing costs to arrest price pressures Bloomberg – Sri Lanka’s inflation rate surged past Pakistan to make it the fastest in Asia, stoked by failed harvests, import restrictions to conserve dwindling foreign-exchange reserves, and high global prices of key commodities. Consumer prices rose…
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