Import expenditure declined in August 2022, on a year-on-year basis, for the sixth consecutive month, despite recording an increase compared to July 2022. Considering the need to prioritise essential imports amidst shortage of forex liquidity, the Government tightened import restriction measures on non urgent imports during August 2022, which, however, were partially relaxed in September 2022. Meanwhile earnings…
The Monetary Board of the Central Bank of Sri Lanka, at its meeting held on 05 October 2022, decided to maintain the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank at their current levels of 14.50 per cent and 15.50 per cent, respectively. In arriving at this…
New York (CNN) — Elon Musk on Monday sent a letter to Twitter proposing to follow through with his deal to buy the company at the originally agreed upon price of $54.20 per share, according to a securities filing on Tuesday. In the letter, Musk said he would proceed with the acquisition on the original terms, pending receipt of the debt…
Member of Parliament Hon. Kabir Hashim was elected today (05) unanimously as the new chairman to the Committee on Public Accounts (COPA). Accordingly, Member of Parliament Hon. Hon. S. B. Dissanayake proposed his name as the Chairman of the Committee and was seconded by Member of Parliament Hon. Niroshan Perera. The Member of Parliament Hon….
Cricketer extraordinaire and renowned humanitarian, Roshan Mahanama, recently launched the ‘Roshan Mahanama Trust’ – born out of a vision to provide a platform for all stakeholders to join in unison in order to enrich the lives of underprivileged children of our nation. The charitable Trust, registered with the Government of Sri Lanka, was officially introduced…
Perspective from UK’s largest Family owned packaging manufacturer The Wilkins Group For businesses in the field of large-scale manufacturing, a critical factor that determines their future and success is a key decision made at their very inception- the location. More often than not, businesses in these fields which start operations in their respective nations look…
The Sri Lanka Chamber of the Pharmaceutical Industry (SLCPI) held its 61st Annual General Meeting at the ‘Samudra Ballroom’, Hotel Taj Samudra on the 23rd of September 2022. The prestigious Pharmaceutical Chamber has an unblemished history of serving as a representative of over 60 members who account for more than 80% of the island’s private…
As part of its drive towards digitalisation for enhanced productivity, efficiency and sustainability, Hela Apparel Holdings completed the first phase of its global implementation of SAP S/4HANA®, an enterprise application suite developed by SAP, on 4th October 2022. With this, Hela becomes the first company to implement SAP S/4HANA® for fashion and vertical business in Sri Lanka….
The Hambantota International Port Group (HIPG) won double recognition at the Global Port Forum Dubai, being named Multipurpose Port/Terminal of the Year 2022 and Port Infrastructure Development of the Year 2022 for the second consecutive year. The port was honoured with these accolades amidst several international port operators and industry leaders gathered at the grand…
Since its genesis, the plantation sector in Sri Lanka has played an essential role in the island’s economy, with tea, and rubber serving as the backbone of this thriving sector. While recent fluctuations in commodity prices may have generated increased export values, the long-term viability of both crops continues to hang in the balance, bolstering…
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