The Silk Road Journal by Mahika Ming Sri Lanka is entangled in an energy crisis due to many reasons as of now. While the forex inflow mechanisms are not yet fully operational after the COVID pandemic, forex reserves are largely used to purchase fossil fuel for transport and energy. Thus the public experience long queues…
The Chamber confirms current shortages in essential medicines Notes that unrealistic price regulations have hindered the importation of drugs Dollar shortages in banks have further delayed imports At a press conference held on today (02) , the Sri Lanka Chamber of the Pharmaceutical Industry (SLCPI) addressed concerns over the shortage of essential medicines amidst the…
First Sri Lankan conglomerate to be awarded member status Aims to mainstream stringent reporting on ESG standards across the entire Hayleys Group Marking a key milestone in its efforts to engage in sustainable development and drive excellence in ESG reporting, Hayleys PLC officially signed on as a Member of the Global Reporting Initiative (GRI) South…
INSEE Ecocycle, Sri Lanka’s pioneer in industrial waste management, has inaugurated a state-of-the-art Pyrolysis Plant at its Puttalam Cement Plant, to convert industrial waste into valuable resources, thus supporting a Circular Economy. The newly opened, fully-capable Pyrolysis plant, which is equipped with cutting-edge technologies, marks an important milestone in INSEE Ecocycle’s sustainable waste management journey,…
The government of Australia donated 3 “Explosive Trace Detectors” worth of LKR 18 mn (approx..) to Airport and Aviation Services (Sri Lanka) (Private) Limited on 1st March 2022. The Explosive Trace Detectors were handed over by His Excellency David Holly, High Commissioner Australia, to Major General (Rtd.) G. A. Chandrasiri, Chairman – AASL at the…
Financial commentary for the Year 2021 Profit Before Tax: Rs. 43.2 billion Revenue growth of 17% Net Interest income of Rs. 111.3 billion with 49 % growth Total Assets; achieved another milestone during the year: Rs. 3.8 trillion Over Rs. 2 trillion Deposits and Advances base Overview of the operating environment The, year 2021 was…
Business Sentiment – Confidence Continues to Hold The Central Bank of Sri Lanka’s most recent Purchasing Managers’ Index (PMI) reveals that the nation’s manufacturing sector recovered in January with the index gaining ground from 58.1 in December to 58.7 a month later. However, the ongoing shortage of foreign exchange continues to undermine this recovery, the…
Indian CEO Forum-Sri Lanka (ICF) recently held their 8th AGM at Hotel Taj Samudra The Indian CEO Forum – Sri Lanka (ICF), formed in July 2013, is a registered body with membership constituted by Indian investment in Sri Lanka, Indian Heads of Multinational Companies (MNCs), and Sri Lankan companies. It currently has 61 members contributing…
Auto giant’s supplier hit by ransomware; factories due to restart Wednesday Nikkei (NAGOYA) – Toyota Motor on Tuesday halted operations at all of its plants in Japan after a major supplier was hit by a cyberattack, disrupting the automaker’s parts supply management system. The company is suspending 28 lines at 14 plants. Subsidiaries Hino Motors…
U.S. Ambassador Julie Chung witnessed the signing of Memorandum of Understanding (MOU) between DFCC Bank and the U.S. government’s Agency for International Development (USAID) Private Sector Development project to expand financial services to micro, small and medium enterprises (MSMEs) in Sri Lanka. “The U.S. Government shares DFCC’s belief that lending to MSMEs will increase GDP…
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