Issuing a communiqué, on releasing National Accounts Estimates, the Sri Lanka’s GDP contracts 8.4% in Q2 2022 (DCS) states that the year on year GDP growth rate for the second quarter of 2022 has been estimated as 8.4 percent of negative growth rate, against the value reported in the same quarter in the year 2021. Further,…
Bloomberg – Sri Lanka’s economy likely shrank the most in two years amid a debt crisis that triggered a default and widespread protests that brought the nation to a standstill leading to the ouster of the president. Gross domestic product probably fell 10% in the three months to June from a year ago, according to…
Further committing to its nation-building efforts, Lina Manufacturing – the pharmaceutical manufacturing segment of Sunshine Healthcare Lanka (SHL), recently delivered its first order of 100% locally formulated and manufactured Metered-Dose Inhalers (MDIs) to the Ministry of Health (MoH). Delivered through the Medical Supplies Division of the MoH, the consignment was handed over to Dr. D….
Reuters – India does not plan to provide fresh financial support to Sri Lanka on top of the nearly $4 billion it has extended this year, two sources told Reuters, as the island’s battered economy starts to stabilise after a preliminary loan agreement with the IMF. India has been the biggest provider of aid this…
For the past five years (2017-2021) China has been the largest bilateral lender to Sri Lanka. In 2021, China disbursed a total of USD 947 MN, out of which USD 809 MN was obtained as market borrowings from the China Development Bank. The Asian Development Bank ( ADB ) has been the largest multilateral lender…
Partnership to offer local SMEs access to Hong Kong, Dubai and Singapore markets Accessing equity infusion options Assist SMEs in incorporating their companies in new markets Marking a new benchmark in the SME sector, Sri Lanka’s leading private sector bank HNB PLC, partnered with Eqwtay (HK) Ltd. to offer local business equity funding facilities and…
The impacts of workplace violence and harassment has led to the loss of six working days per employee every year, costing the nine Sri Lankan companies surveyed at least $1.7 million, according to a new report by IFC, the International Finance Corporation. The study ‘Business Case for Creating Respectful Workplaces in Sri Lanka’—under the Women…
The Board of Investment of Sri Lanka (BOI) is delighted to welcome the textile manufacturing project by Jay Jay Mills Lanka (Pvt) Ltd as the first project to be undertaken at the Dedicated Textile Manufacturing Zone in Eravur, Batticaloa with the ground-up development commencing at the site. The facility will feature state-of-the-art technology with knitting,…
Emirates customers to connect on United to nearly 200 new cities in the Americas, through Chicago, San Francisco and Houston United to launch new nonstop flights between New York/Newark and Dubai in March 2023; connecting customers through Dubai to more than 100 new destinations on Emirates and flydubai Emirates and United have announced a historic…
The Board of Directors of the Colombo Stock Exchange (CSE), with the consultation of the Securities and Exchange Commission of Sri Lanka (SEC) and the stockbroking industry have decided to extend the trading hours from today (Thursday, 15th September 2022) as set out below: Pre-open session – 09.30 a.m to 10.00 a.m Open Auction –…
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