BENGALURU, Feb 1 (Reuters) – Shares in Indian tycoon Gautam Adani’s conglomerate plunged again on Wednesday as a rout in his companies deepened to $84 billion in the wake of a U.S. short-seller report, with the billionaire also losing his title as Asia’s richest person. Wednesday’s stock losses saw Adani slip to 15th on Forbes…
The latest BOI-approved expansion project worth USD 12.5 Mn of Diamond Cutters Ltd, Lanka’s highest export earner in the Gem and Jewelry segment and a subsidiary of Niru Group of Companies, was recently unveiled at the Modarawila Industrial Zone, Panadura under the patronage of Indian High Commissioner Gopal Baglay, BOI Director General Renuka M Weerakone…
Workers’ remittances in 2022 amounted to US dollars 3,789 million, in comparison to US dollars 5,491 million in 2021, recording a decline of 31.0 per cent, though a notable recovery was witnessed during the latter part of the year. Meanwhile, workers’ remittances increased to US dollars 476 million during December 2022, in comparison to US…
Highlights Earnings from exports remained resilient during 2022 recording the highest ever exports, while expenditure on imports declined significantly in 2022, compared to 2021. Merchandise trade deficit recorded the lowest in 2022, since 2010. Foreign investments in the government securities market and Colombo Stock Exchange (CSE) recorded a notable net inflow during 2022 compared to…
A high-level business Delegation from the Sverdlovsk Regional Government of Russian Federation visited Sri Lanka for a three-day programme from 23rd to 26th January 2023. Mr. Vladimir Smirnov, Honorary Consul of Sri Lanka in Sverdlovsk Region led the Business delegation which included prominent business leaders from the Region. The Sri Lanka Export Development Board (EDB),…
U.S. Under-Secretary for Political Affairs, Victoria Nuland, who is currently on an official visit to Sri Lanka, expressed her Government’s support for the on-going recovery efforts in the country. This was revealed during a meeting with President Ranil Wickremesinghe at the Presidential Secretariat this morning (1). During the discussions President Wickremesinghe extended his appreciation for…
Award-winning startup ecosystem builder Hatch entered a strategic partnership with Draper Startup House, a global network of spaces connected to resources for entrepreneurs. Hatch shares a vision with Draper Startup House for Sri Lanka and has come onboard to support Hatch’s “Sri Lanka: From Troubled Nation to Startup Nation” initiative which seeks to change the…
The mercury refuses to budge in the midst of a growing number of economic sensitivities In its mid-January Global Economic Prospects publication, the World Bank revised its forecast for Sri Lanka’s economic contraction in 2022 to 9.2 percent and projected that the nation will face another year of negative growth estimated at 4.2 percent in…
Summarised below are the key operational and financial highlights of our performance during the quarter under review: Group EBITDA recorded an improvement to Rs.10.41 billion during the quarter under review, which is an increase of 9 per cent against the comparative period of last year [2021/22 Q3: Rs.9.53 billion]. Excluding the impact of a one-off…
Reuters – Sri Lanka’s key inflation rate eased to 54.2% in January from 57.2% in December, the country’s statistics department said on Tuesday. The Colombo Consumer Price Index (CCPI) reflected a 60.1% jump in food prices from a year earlier and a 51% climb in the non-food group, the Census and Statistics Department said in a statement….
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