Two economists from Bloomberg, Messrs. Abhishek Gupta and Ankur Shukla shared their views on the economic outlook of Sri Lanka at a corporate event organised and hosted by the Commercial Bank of Ceylon recently as an activity of the Bank’s Trade Club. Many distinguished invitees attended the event at Kings Court, Cinnamon Lakeside. The two…
Despite the challenges, the decisions made for the country are executed effectively. An announcement regarding forthcoming budget’s bank loan concessions for small and medium-scale industries – President says addressing the National Industrial Excellence Awards. President Ranil Wickremesinghe emphasized the importance of making the right decisions for the country’s economic development and during his address at…
Revenue up to Rs. 4,029 Cr Operational Performance Operational Capacity increases by 24% YoY to 8,316 MW with addition of 1,150 MW solar-wind Hybrid, 212 MW solar and 230 MW wind power plants over the last one year Sale of energy increases by 78% YoY to 11,760 mn units Solar portfolio CUF stands at 25.2%…
The report is based on extensive analysis, including surveys of over 550 MSMEs across 10 districts One of the main findings indicated that tourism, manufacturing, construction, transport and storage, wholesale and retail trade were among the severely impacted Outlines recommendations to facilitate the growth of MSMEs, focusing on areas that can have a broader impact…
In a significant development that marks a milestone in Sri Lanka’s economic and technological journey, the 12th Round of Economic and Technology Cooperation Agreement (ETCA) negotiations between Sri Lanka and India took place from the 30th of October to the 1st of November 2023 in Colombo. Sri Lanka’s vision has always been to integrate with…
Post investment, Mitsui will own an effective 12.69% stake in ADA while increasing their stake in ADS to 20%. Axiata Digital & Analytics Sdn Bhd (ADA), today (02) announced Mitsui’s investment of USD 58 million in ADA, facilitated through ADA’s holding company, Axiata Digital Services Sdn Bhd (ADS). Mitsui’s additional investment has established a watermark valuation of USD 550…
Unity Plaza, the iconic commercial building in the heart of Colombo, has undergone a remarkable transformation, cementing its status as the country’s ultimate one-stop shop for all IT requirements. This visionary, trailblazing journey of renewal and innovation was spearheaded by Lanka Realty Investments PLC, subsequent to its acquisition of a 51% stake in On’ally Holdings…
World Bank Managing Director for Operations, Anna Bjerde, concluded her four-day visit to Sri Lanka today, encouraging the Government of Sri Lanka to stay the course on reforms for recovery and sustainable growth. She also underscored the World Bank’s continuous commitment to investing in people, strengthening human capital, and creating jobs. Bjerde met with Sri…
Top textile maker Teejay Lanka PLC has achieved a remarkable recovery from its first quarter losses to post strong top and bottom line figures for the second quarter of 2023-24. Sri Lanka’s first multinational textile manufacturer has reported profit before tax of Rs 1.2 billion for the three months ending 30th September 2023, reflecting a…
INFOTEL 2023 ICT Exhibition, organised by the Federation of Information Technology Industry Sri Lanka (FITIS), will kick start on November 03 2023, at the Bandaranaike Memorial International Conference Hall I(BMICH) in Colombo. The exhibition, which is scheduled till November 05, aligns with President Ranil Wickremesinghe’s vision to modernise Sri Lanka through digitisation. The exhibition, themed…
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