The Cabinet of Ministers has approved the proposal to retire 560 SriLankan Airlines employees under the Voluntary Retirement Scheme at a cost of Rs.1.46 billion, the state information office said. It has been decided to implement the Voluntary Retirement Scheme due to the financial crisis that has been faced by the SriLankan Airlines Ltd and a Three-Member…
For a consumer-driven conglomerate impacted by the systemic COVID-19 (C19) transmission, the Softlogic Holdings Group’s topline recorded a commendable growth of 9% to Rs. 21.8 billion for 2QFY21 which defied expectations with performance exceeding the two preceding negative quarters, Chairman of Softlogic Holdings PLC, Ashok Pathirage said in the SHL’s interim financial account released to…
Ocean Lanka Pvt Ltd, Sri Lanka’s largest weft knitted fabric manufacturer, announced that it has entered into a partnership with Cotton made in Africa (CmiA), one of the world’s leading standards for sustainably produced cotton. The recent partnership will see Ocean Lanka further increasing its sustainable cotton portion, which is ecologically and socially progressive. Cotton…
Association a great testament to the brand LPL, says SLC IPG says fantasy sports becoming backbone of live sports sponsorship Mumbai / Colombo: In a major boost to the inaugural edition of the Lanka Premier League (LPL), My11Circle, one of the leading fantasy sports platforms in India, has come on board as title sponsor of…
Central Bank of Sri Lanka (CBSL) yesterday (16) announced that the most recent SLDB auction held from 10 to 13 November 2020 with settlement on 18.11.2020 enabled to raise $ 24.82 million. At the said auction, maturities offered varied from one-year and two months to four years and two months and were offered at a fixed rate of…
The International Trade Centre (ITC) in collaboration with the Department of Commerce (DoC) of Sri Lanka organized a webinar on ‘GSP+ for Enhanced Market Access’ recently. The webinar was primarily aimed at creating a platform for Sri Lankan exporters to better understand ways to increase the utilization of GSP+ concessions in their businesses; particularly in…
Amana Bank, through its resilient core banking performance, recorded a Profit Before Tax (PBT) of Rs. 389 million and a Profit After Tax (PAT) of Rs. 250 million for the nine months ending 30 September. In comparison to the previous quarter which was impacted by the first wave of the pandemic, Amãna Bank has been…
Standard Chartered Bank recently published its first annual Sustainable Finance Impact Report highlighting the Bank’s unique contribution to tackling climate change, and financing dedicated to achieving the United Nations’ Sustainable Development Goals (SDGs). The report reveals the Bank’s Sustainable Assets amounting to USD 3.9 billion which includes loans towards renewable energy, healthcare, and education, as…
“The Beijing Swift” – By Prof. Samitha Hettige © Sri Lankans will remember “Flying Pigeon” and “Phoenix” bicycles imported from China and distributed by state and private sector institutions such as the Cycle Bazaar, Borella during the 1970s and 80s. Bicycle was the only source of transportation for millions of Chinese. Streets filled with Chinese…
The Prime Minister and Minister of Finance Mahinda Rajapaksa will present the second reading of the Appropriation Bill for the financial year 2021 in Parliament tomorrow (17). Following the publication of the 2021 Appropriation Bill in the Gazette on 06th October, it was presented to Parliament by Hon. Mahinda Rajapaksa on 20th October 2020 for…
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