SL Purchasing Managers’ Index (PMI) – October 2022 Manufacturing PMI declined in October 2022, indicating a contraction in manufacturing activities on a month-on-month basis. Accordingly, Manufacturing PMI recorded an index value of 38.4 in October 2022, with a decline of 4.2 index points from the previous month, driven by decreases recorded in all the sub-indices.
Despite numerous macroeconomic challenges, the E. B. Creasy Group, once again, was resilient and posted a record performance in the first half of the current financial year, driven by outstanding results in its core segments of Homecare, Personal and Healthcare, and in industrial sales to the Foods sector. Group profitability, however, came under considerable pressure…
Reuters – Leaders of the Group of 20 major economies will express concern about the “deteriorating debt situation” facing some vulnerable middle-income countries, and call on all official and private creditors to respond swiftly to requests for debt treatment. A draft of the G20 leaders declaration seen by Reuters includes far stronger language about debt…
The Ceylon Chamber of Commerce observes that the National Budget for 2023 contains many laudable reform proposals which, if implemented in a timely manner, will complement the on-going fiscal reforms outlined prior to the Budget. It is refreshing to see that the direction of the budget is towards reforms as compared to unsustainable relief measures…
Group Revenue remained resilient to grow 21% YTD reaching LKR 127.2Bn Total Taxes Paid to GoSL Rs26.0Bn for nine months ending 30th September 2022 which included Rs 11.3Bn in Direct and Rs14.7Bn in Indirect Taxes; The total taxes paid increased 47% YTD and 19% QoQ Group Net Profit After Tax reached Rs3.2Bn in Q3 2022…
Distribution to smallholder paddy farmers in four districts to commence this week The Food and Agriculture Organization of the United Nations (FAO) handed over 780.1 MT of Urea procured through the UN Central Emergency Relief Fund (UN-CERF) to the Ministry of Agriculture today (15). 15,619 farmers cultivating paddy on landholdings of half an acre or…
The Information and Communication Technology Agency (ICTA) of Sri Lanka and partner organizations will mark Global Entrepreneurship Week (GEW) from 14th -20th November 2022. Over eighty events will be organized by fifty ecosystem enablers covering four themes; ecosystems, education, inclusion, and policy. In addition, a series of events will take place across the country to…
Reuters – Sri Lanka needs to implement budget proposals and reform measures to start earning crucial foreign exchange to help stabilise its economy and ensure it does not return to crisis, its central bank chief said on Tuesday. The Sri Lankan economy can turn around by the end of 2023 if budget policies, which are…
The Ceylon Motor Traders Association (CMTA), the senior most automotive association in Sri Lanka, recently hosted the CMTA Stakeholder Breakfast Forum at the Movenpick Hotel on the 26th of October. The event was attended by a host of representatives from Ministries, Government Institutions, NGOs, and a host of other stakeholder organisations related to Sri Lanka’s…
Hela Apparel Holdings PLC recorded a resilient performance in the second quarter of FY 2022/23, with revenue of Rs. 28.2 Bn representing an 88.5% increase compared to the same period of the previous year. While the significant growth was partly driven by the depreciation of the rupee, revenue was 4.7% higher year-on-year in US Dollar…
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