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Inflation drops to 5.5% in October 2020

Headline inflation as measured by the year-on-year (Y-o-Y) change in the National Consumer Price Index (NCPI, 2013=100)1 decreased to 5.5% in October 2020 from 6.4% in September 2020. This was due to the statistical effect of the high base prevailed in October 2019. Meanwhile, Food inflation (Y-o-Y) decreased to 10.6% in October 2020 from 12.7%…

(0)Comments | November 24, 2020 9:17 am

Sri Lankan banks’ ratings unaffected by proposed FLC mergers: Fitch

The mergers of Sri Lankan finance and leasing company (FLC) subsidiaries with their parent banks will not have an immediate impact on the banks’ ratings, says Fitch Ratings. The agency’s assessment of our rated banks is based on their consolidated credit profiles and already factors in the risks of having subsidiary FLCs. However, the extent…

(0)Comments | November 24, 2020 8:47 am

MTV/Sirasa served enjoining order over defamatory claims against George Steuart Health

Statement issued by George Steuart Health (Pvt) Limited on 23 November 2020 The Colombo District Court today issued an enjoining order against MTV Channel Private Limited in a defamation case filed by George Steuart Health (Pvt) Limited over defamatory news broadcast on its prime time news telecasts. The Plaint referred to several false and defamatory…

(0)Comments | November 23, 2020 6:40 pm

Webinar and Networking Session between Sri Lanka and Turkey to enhance bilateral trade, tourism and investment

Embassy of Sri Lanka in Turkey and the Sri Lanka Export Development Board (EDB) jointly organized a Webinar and Business Networking Session last week in collaboration with the Turkish Economic Relations Board (DEIK). More than 85 participants attended the webinar. Three separate matchmaking sessions were also arranged for the Sri Lankan and Turkish participants for…

(0)Comments | November 23, 2020 6:23 pm

Tokyo Cement’s investment expansion a direct nod to Government policy

Tokyo Cement Company (Lanka) PLC recently entered into an investment expansion agreement with the BOI, reflecting their appreciation towards The Government’s farsighted decision to encourage the local manufacturing sector. The company recently announced plans to increase local production capacity by a further 1 million Metric Tons with an investment of US $ 12 Million. The…

(0)Comments | November 23, 2020 5:16 pm

The COVID-19 Crisis and Innovation: Why Intellectual Property Rights Matter

By Dilani Hirimuthugodage Way back in 1945, renowned author Kumarathunga Munidasa wrote in ‘Virith Vekiya’: “A nation that does not invent and produce new things will not thrive”. The visionary Munidasa clearly understood the importance of innovation for economic and social progress. Today, it is telling that Sri Lanka ranks at 101 in the World Intellectual…

(0)Comments | November 23, 2020 5:15 pm

Official Statement from Hirdaramani Group

The full Statement issued by the Group as follows: Since the beginning of the recent COVID-19 outbreak, our dedicated health and safety teams have been working with the Government and Public Health authorities to maintain stringent screening processes to ensure the safety of all our employees. We have implemented private PCR testing across all our…

(0)Comments | November 23, 2020 4:36 pm

Multiple irregularities in construction of the Central Expressway – COPE reveals

The Committee on Public Enterprises (COPE) held in Parliament on 20 November, disclosed that multiple irregularities have taken place in the construction of the Central Expressway. Accordingly, it was revealed over Rs. 1.7 billion had been spent on feasibility studies alone. The delay in the commencement of work on the first section of the Central Expressway extending from…

(0)Comments | November 23, 2020 1:02 pm

Lion Brewery export earnings increase in 1H20/21

Sri Lanka-based Lion Brewery (Ceylon) PLC witnessed a significant growth in exports in first-half of the 2020/21 financial year, despite the fact that the business in local market was adversely affected due to the pandemic. “Whilst business in the local market was adversely affected due to the pandemic, it was satisfying to record a significant growth in…

(0)Comments | November 23, 2020 12:14 pm

Generosity, Pleasant Speech, Meaningful Livelihoods and Equality down the BRI

The Beijing Swift – By Prof. Samitha Hettige © The Belt and Road Initiative (BRI) has more than 150 partners along the Silk Road. Some are rich and powerful some are not. A key feature of the BRI is win-win cooperation. It is the Chinese approach on partnerships. There are no competitors, all are winners….

(0)Comments | November 23, 2020 10:38 am

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