COLOMBO, Feb 8 (Reuters) – Sri Lanka’s economy is expected to grow again from the end of this year and the government wants the country to exit bankruptcy by 2026, President Ranil Wickremesinghe told parliament on Wednesday. The Indian Ocean island of 22 million people has been struggling with its worst economic crisis since independence…
hSenid Business Solutions (hBS) reported its results for the period ended 31December 2022, with revenues up 16 percent year-over-year. Topline growth was supported by its core PeoplesHR Cloud offering, followed by Tracking Solutions. The group recorded 51 percent recurring revenues, driven by PeoplesHR Cloud. hBS continued its growth initiatives during the quarter, particular within the…
Financial Review Tokyo Cement Group (Tokyo Cement) reported its financial performance for the 3rd quarter that ended on 31st December 2022, with a turnover of Rs. 12,079 million reflecting a year-on-year decline of 12%. The Group recorded a profit of Rs. 559 million for Q3 FY2022/23, compared to a profit of Rs. 1,649 million in…
Having recognized the need to institutionalize financial consumer protection in the delivery of services by financial institutions regulated by the Central Bank of Sri Lanka, the Financial Consumer Relations Department of CBSL has developed a comprehensive set of new regulations aiming at introducing an integrated financial consumer protection framework for entities regulated by CBSL. These regulations are expected to…
PARIS : Paris Club Creditors have agreed to provide financing assurances to support the International Monetary Fund’s approval of an extended fund facility (EFF) for Sri Lanka, the Paris Club said on Tuesday. Paris Club members as well as Hungary, Saudi Arabia and India continue to look forward to working together along with all bilateral…
A Host Country Agreement was signed between the Government of Sri Lanka and the Global Green Growth Institute (GGGI) progressing Sri Lanka’s climate action and further deepening Sri Lanka’s green growth development. The agreement was signed in the presence of President Ranil Wickremesinghe and Former Secretary General of the UN and the President of the…
– Dr. Kapila Senanayake, Director General of the Financial Policy Department, informs Union leaders and representatives of civil organizations According to Dr Kapila Senanayake, Director General of the Department of Financial Policy, the tax on personal income was imposed as a short-term strategy to resurrect the country from the existing economic situation, and this new…
The Central Bank of Sri Lanka reports that Sri Lanka’s official reserve assets at the end of January 2023 were USD 2,120 million. This is a 11.7% increase from the official reserve asset figure of USD 1,898 million in December 2022. Meanwhile, foreign exchange reserves, the main component of these official reserve assets, increased from…
SriLankan Airlines recently teamed with Jetwing Eco Holidays to sponsor the air travel of British travel writer and naturalist, Ed Hutchings, on his bird watching tour of Sri Lanka, which will be featured in the Bird Watching magazine, UK. Hutchings’ work in Sri Lanka will help promote the island as a premier bird watching destination…
Sri Lanka’s only gold-focused financial solutions provider, Asia Asset Finance PLC, has expanded its Island wide reach to 70 locations across the country, adding 15 new locations during 2022. The network expansion drive comes as Asia Asset Finance PLC seeks to bring accessible and innovative financial services within reach of all Sri Lankans. With a history spanning…
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