The late H.D. Sugathapala, Ex Principal of Royal Junior School, Colombo 07 (founder of the “Navarangahala” theatre) at an informal discussion (in mid 1990s) with the late Justice Chris Weeramanthri and few others mentioned the name of Prime Minister Benjamin Disraeli while analyzing his former students who were in politics (Lalith A, Ranil W, Dinesh…
Sri Lanka’s usable foreign reserves fell from USD 7,642 MN in 2019 to USD 1,579 MN by the end of 2021. When compared with Sri Lanka’s regional peers during the pandemic, the decline in its reserves appears to only have happened to Sri Lanka, while its other Asian countries have seen an increase in their reserve…
Bloomberg – Authorities in Sri Lanka this week are expected to name a new finance minister and raise interest rates as they struggle to stabilize an economy spiraling into chaos by a lack of dollars and surging inflation. Prime Minister Ranil Wickremesinghe, appointed last week, is expected to soon choose a finance minister, who will…
Hydropower companies in Sri Lanka had the opportunity to interact with Nepal’s Ministry of Energy, Water Resources and Irrigation (MOEWRI) and Nepal Electricity Authority (NEA) on the investment opportunities in Nepal for hydropower development during a meeting held virtually on 6th May 2022. The meeting was jointly organized by the Embassy of Sri Lanka in…
New prime minister says the government plans to sell its national airline and pledges a new ‘relief’ budget Bloomberg – Sri Lanka is sliding inexorably into default as the grace period on two unpaid foreign bonds nears an end, the latest blow to a country rattled by economic pain and social unrest. The island nation…
Q1 22 Revenue and EBITDA record YoY growth of 16% and 8% respectively YTD Q1 22 NPAT Negative at Rs15.8Bn, impacted by Forex Loss of Rs.20.2Bn. Normalised NPAT Rs.4.3Bn Total Taxes Paid to GoSL Rs5.9Bn which included Rs2.1Bn in Direct and Rs3.8Bn in Indirect Taxes Capex Investments of Rs7.5Bn during the Quarter; OFCF reached Rs6.2Bn…
The first quarter of 2022 witnessed the gradual recovery of economic activity resultant from the setbacks of the COVID-19 3rd wave. However, during 1Q 2022, continued political uncertainty that prevailed, largely impacted normalcy, with public and businesses facing heightened challenges brought-forth by gas and fuel shortages, rapidly rising inflation, FX reserves depletion, depreciation of the…
Carrying forward the thrill and excitement of cricket, Moose Clothing Company, Sri Lanka’s youthful and trendy clothing brand will continue to support Sri Lanka Cricket as the Official Overseas Team Sponsor of the National Cricket team at the upcoming Test series of Sri Lanka’s tour of Bangladesh in May 2022. The 1st Test match is…
Gautam Adani-owned Adani Group announced to enter into definitive agreements for the acquisition of Switzerland-based Holcim Ltd’s entire stake in two of India’s leading cement companies – Ambuja Cements Ltd and ACC Ltd. Gautam Adani-owned Adani Group, on Sunday, announced a deal to acquire Holcim’s businesses in India for $10.5 billion. The group revealed that…
There are various media exposure and reports leading to public misinformation that land has been sold to foreign investors without following due process. Hence the Sri Lanka Tourism Development Authority (SLTDA) wishes to clarify the matter. The Uchchamunai Island in question has NOT BEEN SOLD and a lease agreement was signed for a period of…
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