By Rohan Parikh Sri Lanka needs a social housing plan. Over the years, I have repeatedly emphasized the detrimental impact of the housing shortage and high costs in Sri Lanka, particularly in the Colombo Metropolitan Area, on the country’s economic growth. We have witnessed how housing booms have coincided with and fuelled the economic miracles…
In 2020, the Hirdaramani Group announced their Future First initiative, a truly ambitious and comprehensive Sustainability Roadmap for 2025. As part of their commitment to transparency and accountability, the Group has released their second annual Sustainability Report with detailed data-driven updates on Hirdaramani’s progress in 2022 towards achieving the 28 targets they have committed to….
Reuters – The International Monetary Fund (IMF) mission in Sri Lanka will evaluate progress made on reforms so far and complete an exercise to improve governance in key areas of the economy, an IMF official said on Monday. An IMF team is in Colombo until May 23 as part of regular consultations ahead of the…
Director of the Asia and Pacific Department of the International Monetary Fund (IMF) Krishna Srinivasan says that Sri Lanka’s economy is expected to contract by 3 percent in 2023, before registering a modest growth of 1.5 percent in 2024. Mr. Srinivasan made this remark during a special press briefing in Colombo on Monday (15) with…
Gross Income grows 54.20% to Rs 84.149 Bn. Impairment provisioning up 14% to Rs 6.797 billion Appreciation of Rupee impacts loan book, deposits and assets The Commercial Bank of Ceylon Group’s deposit base has surpassed Rs 2 trillion, a milestone it achieved in the first quarter of 2023 despite the continuing impacts of mercurial exchange…
Sampath Bank continued to reinforce its commitment to all stakeholders notwithstanding the ongoing economic challenges. Stepping in to support the customers affected by the prolonged economic downturn, the Bank continued to offer tailormade options and alternative repayment plans to help its customers sustain their businesses while staying true to its ethos of customer value creation….
The world’s number one in Entrepreneurship, Germany celebrates its 70years of diplomatic relationship with Sri Lanka and with BOI almost four decades of doing business have seen confirmed strength of relations. The longstanding business relationship recently continued with another fruitful annual BOI- AHK (Delegation of German Industry and Commerce in Sri Lanka) business forum. Led…
Hayleys Solar, the renewable energy arm of Hayleys Fentons, in partnership with Lumala, a pioneering bicycle brand in Sri Lanka with a market presence of 4 decades, is looking to revolutionize the country’s e-mobility sector. This expedition, named the “Eco Ride”, took place covering a route of over 800 km extended from Point Pedro to…
Sri Lanka Telecom Group (SLT Group), the National ICT Solutions Provider, recorded positive consolidated revenues of Rs. 26.6 Bn for Q1 2023, an increase of 2.1%, compared to the same period last year, led by robust growth at company level from SLT, demonstrating resilience and optimism in the future undeterred by the challenging environment. The…
TOKYO, May 15 (Reuters) – The weekend gathering of finance chiefs from the Group of Seven (G7) advanced economies did not single out China as a threat in their communique, but left signs the world’s second-largest economy will loom large at this week’s summit in Hiroshima. Efforts to grapple with China’s growing global presence were…
