Uber Eats in Sri Lanka has reiterated its commitment to the market by dialing up support to Courier partners on its platform during the current challenging times. To soften the impact of the ongoing economic crisis, the company has announced initiatives that will help create new earning opportunities and provide a cushion to courier partners….
Further expanding its portfolio, Resus Energy PLC, a forerunner in renewable energy, recently connected a 6.0MW ground mounted solar PV (photovoltaic) station to the national grid. This comes at a crucial time when the country is facing a massive power crisis resulting from fuel scarcity to operate thermal plants, which in turn results from a…
KUALA LUMPUR: Axiata Group Bhd has appointed Hans Wijayasuria and Vivek Sood as interim joint acting group chief executive officers effective June 1, 2022, as Datuk Izzaddin Idris steps down. The telco said in a statement Izzaddin will step down from his position as president and group chief executive officer effective May 31. His stepping down is…
The World Bank Country Manager in Colombo, Chiyo Kanda, called on the Minister of Foreign Affairs Prof. G.L. Peiris at the Ministry of Foreign Affairs on 27 May, 2022. Minister Peiris sought assistance from the World Bank until long term assistance materializes through the IMF, other international institutions and donor countries. The Minister highlighted the…
The diversified blue-chip Aitken Spence PLC reported a profit before tax of Rs. 14.2 billion for the twelve months ended 31st March 2022 compared to the loss reported before tax of Rs. 2.8 billion last year. This phenomenal performance was driven by the Group’ diverse presence in eight countries spanning sixteen segments of operation. The…
SDB bank recently entered into a joint initiative together with the Asian Development Bank (ADB), to provide a line of credit (LoC) to selected small and medium-sized enterprises (SMEs) in Sri Lanka, including those led by women, are first-time borrowers, lack of sufficient collateral and those who are located outside of Colombo. The project also…
By Prof. Samitha Hettige The leaders of QUAD (USA, Japan, India and Australia) held their 4th summit in Japan recently. QUAD is an attempt by USA to counter China’s outreach (with the Belt and Road – BRI) in the Indo Pacific region. President Trump wanted an alternative to BRI in 2017 in Tokyo (first expressed in 2008 by US sensing China’s rise). Though…
Overview The Sri Lanka government remains in default on some foreign currency obligations, including international sovereign bonds (ISBs) on which it has missed interest payments. We do not expect the government to make ISB interest payments within 30 calendar days after their due dates. Following missed interest payments due on May 3 and May 11,…
Addresses national need with Chlorphenamine Oral Solution and Paracetamol 500mg tablets production Morison Ltd., one of the pioneers of pharmaceutical manufacturing in Sri Lanka since 1959, announced the commencement of commercial production at its state-of the-art WHO GMP and EU GMP compliant production facility in Pitipana, Homagama. Unveiled in late 2020 as Sri Lanka’s first and…
The Parliamentary Council decided to concur with the recommendation to appoint Mr. Anthony Nihal Fonseka as a member of the Monetary Board of the Central Bank of Sri Lanka. The decision was taken at a meeting of Parliamentary Council chaired by the Speaker Hon. Mahinda Yapa Abeywardena yesterday (26). The Prime Minister Hon. Ranil Wickremesinghe,…
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