AGEL completed the transfer of 1,050 MW renewable portfolio to a JV between AGEL and TotalEnergies AGEL contributed the mix of operational (300 MW), under construction (500 MW) and under development assets (250 MW) and TotalEnergies has made equity investment of USD 300 million Adani Green Energy Limited (AGEL) today announced the completion of the…
By Prof. Samitha Hettige In 2023 the Earth community celebrated the 23rd anniversary of human presence in Space Stations. Space explorations started in the 1960s with goals of resolving human conflicts connected with settlements etc. USA & USSR were the front runners & Russia, Japan, China & India etc. contributed later. By now some have…
The Sri Lanka Gem and Jewellery Association (SLGJA) has raised serious concerns about the government’s unprecedented decision to subject the industry to the Value Added Tax (VAT) regime. The SLGJA fears that such a move could lead to foreclosures and compel the private sector to relocate overseas or revert to the informal sector. The gem…
Japanese Finance Minister Shunichi Suzuki announced on Tuesday that he will embark on visits to Cambodia and Sri Lanka in January. During these visits, Suzuki aims to address economic challenges and strengthen financial cooperation between Tokyo and the two nations. The finance minister is set to emphasize the critical need to advance debt restructuring efforts…
The barometer of business confidence regains lost ground but uncertainties loom large Despite a notable 51 percent increase in state tax revenue during the first nine months of 2023 compared to the previous year, the IMF’s target remains unmet. Finance Ministry officials anticipate that the higher rate of value added tax (VAT) to 18 percent…
The Presidential Secretariat has opted to cease the maintenance of the itukama.lk website, initially employed for awareness and fundraising during the Covid-19 pandemic. Following the successful containment of the virus, the website’s operation concluded on the 28th of October, 2022. Presently, only a record of advertisements and funds related to it is available on the…
Union Bank announced the appointment of Mr. Nirvana Chaudhary as the Chairman of Union Bank with effect from 21 December 2023. Mr. Chaudhary was appointed as a Non-Executive, Non-Independent Director to the Union Bank Board in October 2023. Mr Chaudhary has extensive experience as a business leader and is presently the Managing Director of CG…
Ambassador of Sri Lanka to Thailand and Permanent Representative to UNESCAP C.A. Chaminda I. Colonne paid a courtesy call on Minister of Tourism and Sport, Sudawan Wangsuphakitkosol at the Ministry of Tourism and Sport of Thailand on 19th December 2023. Minister Sudawan Wangsuphakitkosol warmly welcomed Ambassador Chaminda Colonne, and Ambassador congratulated the newly appointed Minister….
Fitch Ratings: The 2024 global credit outlook is driven by four key themes, Fitch Ratings says in a new report. The first is a continued feedthrough of sustained higher interest rates on demand, liquidity, funding and asset quality. Second, an expected sharp slowdown of the US economy. Third is global asset-quality deterioration. Finally, heightened financial…
By Rasith Wickremasinghe COYLE Chairman් The Sri Lankan economy currently grapples with the significant challenges presented by a complex financial situation unfolding in unprecedented ways. As the country tackles the intricacies of this economic turmoil to overcome fiscal obstacles, there is a prevailing sense of concern among the populace. Against this backdrop, the nation contends…
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