Proposes to delist from the Colombo Stock Exchange to drive efficiencies Having operated in Sri Lanka for over 115 years, Nestlé Lanka’s deep-rooted bond and commitment towards the country and its people remains strong. In this journey, the ‘Good food, Good life’ company has worked closely with its stakeholders to positively impact families, communities, and…
The airline has signed a Memorandum of Understanding (MoU) with Sri Lanka Tourism Promotion Bureau, reaffirming its support to the island-nation’s tourism and trade industries Emirates has been serving the country for 37 years, carrying over 11 million passengers to and from the country Dubai, UAE – 3 May 2023: Emirates has pledged its renewed support to…
Biz confidence shores up in the aftermath of the IMF’s facility being approved The IMF’s US$ 3 billion Extended Fund Facility (EFF), which was approved on 20 March, has surely been instrumental in bolstering business confidence. And efforts to restructure Sri Lanka’s mountain of debt has since taken a positive turn with three key sovereign…
Sri Lanka’s merchandise exports decreased by 1.96 % to US$ 1,037.5 Million in March 2023 compared to March 2022. Moreover, it is a 5.14 % decrease when compared to March 2021. Less demand created for major products in major markets due to the current economic situation further continues. Major Exports in March 2023 A. Products…
Reuters – Sri Lanka’s apparel export earnings could slump by $1 billion this year, a top industry expert said on Wednesday, as slowing global demand hits the crisis-hit South Asian country. Apparel is Sri Lanka’s largest industrial export and earned $5.95 billion in 2022, helping the country as it weathered its worst financial crisis since…
Operating Profits up by 79% to post Rs. 771 Mn, owing to overall excellent core banking performance. Profit Before Tax – Rs. 540 Mn, up by 72% and Profit after Tax – Rs. 324 Mn, up by 50% Impairment Charges – 382 Mn, down by 37% Total Assets increases by Rs. 7.5 Bn to reach…
The first quarter of 2023 witnessed continued positive sentiments in Sri Lanka’s economic activity with the IMF approved Extended Fund Facility (EFF). Significant exchange rate appreciation, moderating inflation, a notable drop in T-bills rates and selective easing of import restrictions resulted in the Banking sector to re-align its business focus. At a time when the…
A series of farmer field training and Training of Trainers (TOT) on vanilla cultivation has been successfully conducted in Horana, Pasyala, Gampola, and Matale by the United Nations Industrial Development Organization (UNIDO) in collaboration with the Department of Export Agriculture (DEA). This is part of the BESPA-FOOD project, implemented by UNIDO and the Food and…
LAUGFS Gas, a leading LP Gas provider in Sri Lanka, has announced that it will not be increasing the prices of its LP Gas products despite the recent increase in gas prices in the global market. The global market price of LP Gas has been increasing steadily due to several factors, including rising demand for…
Perceived Economic Opportunity Index [PEOI] 2023 Q1: January 01 to March 31, 2023 The optimism of the Sri Lankan people is at rock bottom. But a distant glimmer of hope has appeared. The Foundation of Economic Freedom in Sri Lanka (FEFSL) presents here a summary of perceptions of the people of Sri Lanka about their…
