SriLankan Airlines would like to clarify that a story currently circulating on social media about the airline mishandling the travel of Venerable Ajahn Brahm is completely false. The Venerable Ajahn Brahm was booked on a different airline when the unfortunate delay occurred at Bandaranaike International Airport in the early hours of 31 May 2023. SriLankan…
Reuters – Sri Lanka’s central bank cut its key interest rates by 250 basis points on Thursday as inflation eased, signalling that the South Asian nation was emerging from a devastating financial crisis and ready for a rebound in growth. The Central Bank of Sri Lanka (CBSL) cut its standing deposit facility rate and standing…
The fourth quarter of FY 2022/23 marked the close of a challenging year for Hela Apparel Holdings PLC. While revenue of Rs. 20.5 Bn in Q4 represented a 40.6% increase in the same period of the previous year, this was primarily driven by the impact of the rupee depreciation. In US Dollar terms, quarterly revenue…
A meeting between President Ranil Wickremesinghe and Deputy Managing Director of International Monetary Fund (IMF) Kenji Okamura was held at the Presidential Secretariat Wednesday afternoon (31). The discussion primarily focused on the progress of the IMF program between Sri Lanka and the IMF. Attention was also paid to the on-going debt restructuring negotiations. State Minister…
Majority Sri Lankans consider themselves Buddhists. One may say that within that majority only a very small minority are practicing Buddhists. Vanishing greed, hatred & fraternity can be considered the essence of Buddhist way of life. Those who vanish bonds may spiritually experience space travel as gravitational pull due to bonding is reduced. Chinese space…
The Monetary Board of the Central Bank of Sri Lanka, at its meeting held on 31 May 2023, decided to reduce the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank by 250 basis points to 13.00 per cent and 14.00 per cent, respectively. The Board arrived at…
Appoints Sabry Haniz as Vice President & Director Sri Lanka’s largest marketing communications group, The MullenLowe Group (MLG) launches LoweMedia on the 1st of June. LoweMedia becomes the 7th independently managed strategic vertical following the formation of the group’s six other strategic verticals. Today, MLG consists of MullenLowe (Mainstream advertising), LoweDigital (Social, Content and Paid…
Reuters – Sri Lanka’s key inflation rate eased to 25.2% in May from 35.3% in April, the statistics department said on Wednesday, reducing some stress on the crisis-hit economy. Soaring inflation has battered the economy for more than a year after a severe foreign exchange crisis set off the Indian Ocean island’s worst financial crisis…
In groundbreaking industry news, Noyon Lanka (Pvt) Ltd., a subsidiary of MAS Holdings, and DESSEILLES CALAIS, a subsidiary of the CALAIS DENTELLES holding company, announced the sale of NOYON CALAIS’ IP rights and other intangible assets to Noyon Lanka. NOYON CALAIS is a French lace manufacturer known for a 100+ years of heritage in the industry. This…
The Central Bank of Sri Lanka (CBSL) says it has conducted investigations into several institutions to ascertain whether they have conducted schemes prohibited in terms of the Banking Act, based on some complaints received by the CBSL. In relation to the examination conducted under Section 83C of the Banking Act. No 30 of 1988, the…
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