The Cabinet of Ministers has approved the proposal presented by the Minister of Energy Udaya Gammanpila to initiate a new feasibility study in order to determine the scope, technical, operational and financial feasibility of a project to enhance the existing capacity at Sapugaskanda Oil Refinery, the state information office said. “The current capacity of the Ceylon…
Group Operating Profit up by 37.0% YoY Group Top Line up by 5.2% YoY, surge in Broadband Revenues Continues leap in FTTH revenues through accelerated Fiber Expansion Program Investment in CAPEX Rs. 11.7 Bn Direct & Indirect taxes and levies paid to GoSL Rs. 11.8 Bn Sri Lanka Telecom PLC (SLT) Group released its financial…
Milliman, Inc., a premier global consulting and actuarial firm, announced that it will begin operations in Sri Lanka after an agreement to acquire Colombo-based Spark Actuarial Private Limited came into effect yesterday (02). The new Milliman office will support local and international clients with the firm’s full range of actuarial services. Milliman now serves the region through offices…
LONDON (Reuters) – Emerging market sovereign debt issuance in 2021 could reach around $140 billion, almost as high as this year, as a flurry of high-yield bond sales offsets a slowdown in investment-grade issuance, Goldman Sachs estimates. As funding needs soared because of the COVID-19 pandemic, investment-grade sovereigns scrambled to issue debt, sending emerging market…
Dubai-based IPG, the promoters of Lanka Premier League (LPL), reiterates that they are completely prepared to host the event with all necessary Covid-19 protocols in place given the Sri Lankan authorities give their go-ahead. IPG also states that all required procedures related to the players, team owners and broadcast partners are finalized and awaits certain…
Sri Lanka’s GDP is projected to contract by 1.7% this year, reflecting the impact of the pandemic induced fallout, particularly in the second quarter of the year, the Central bank of Sri Lanka said in its latest report titled “Recent Economic Developments: Highlights of 2020 and Prospects for 2021”, which was released last Saturday (31 October). However,…
The Sri Lanka Export Development Board (EDB) assured that it will continue to facilitate operations of export industries so it remains uninterrupted during the quarantine curfew in the Western Province. In a notice, the EDB said that exporters are required to take all safety precautions recommended by the health authorities to manage COVID-19 and need to…
In its continued response efforts to serve the nation during a time of need, Dialog Axiata, Sri Lanka’s premier connectivity provider, partnered with TV Derana to launch the 2nd rendition of the ‘Manusath Derana with Dialog’ initiative in order to provide relief to affected families in areas under curfew. The entire process of purchasing, packaging and…
Union Bank continued to focus on its prudent cost and portfolio management strategy to remain resilient amidst a volatile macro-economic landscape that prevailed through the third quarter of the year. The Covid-19 outbreak weakened the country outlook substantially and affected the overall business landscape of the country. Amidst a challenging economic landscape, the Average Prime…
Headline inflation, as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2013=100), remained unchanged at 4.0% in October 2020 due to the statistical effect of the high base prevailed in October 2019. Meanwhile, Food inflation (Y-o-Y) decreased to 10.0 per cent in October 2020 from 11.5% in September 2020, whereas…
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