Rated Sri Lankan corporates in consumer-goods retail, power generation and homebuilding will be among the most affected if the economic crisis deepens or is sustained for a prolonged period, says Fitch Ratings. Significant cost inflation affecting demand and profitability, import restrictions disrupting operations, and high interest rates are key risks faced by domestic corporates in…
Applications for the most prestigious annual sustainability awards, the Ceylon Chamber’s Best Corporate Citizen Sustainability (BCCS) Awards 2022, will close on October 28th, 2022. To be conducted for the 19th consecutive year, the BCCS Awards play a pivotal role in encouraging corporates to adopt best practices relating to environmental, social, and economic sustainability while pursuing…
Sri Lanka Ambassador to the Philippines, Shobini Gunasekera, paid a courtesy call on, Secretary (Minister) of Foreign Affairs of the Philippines Enrique A. Manalo, at the Office of the Secretary in the Department of Foreign Affairs (DFA). Ambassador Gunasekera congratulated Secretary Manalo on his recent appointment and handed over the felicitation letter from Minister of Foreign Affairs…
Dialog Axiata PLC, Sri Lanka’s premier connecitivty provider, announced the appointment of Dr Sharmini Coorey as an Independent, Non-executive Director on the Board, with effect from 15 October 2022. Dr. Sharmini Coorey is a former senior official of the International Monetary Fund (IMF) and currently a member of the Presidential Advisory Group on Multilateral Engagement…
Apparel sector in urgent discussions with Government on FTAs to boost exports With fears of a global economic recession looming, the Joint Apparel Association Forum (JAAF) is actively stepping up engagement with top Government and Foreign Ministry officials to expedite negotiations on Free Trade Agreements (FTAs) to help boost exports and strengthen the industry’s resilience….
Unlocking new opportunities for youth in the growing fast-food sector, Sri Lanka launched its first vocational training kitchen on October 14 at the Technical College in Kuliyapitiya. USAID will develop a new curriculum aligned to global best practices and train vocational trainers and assessors for the program. Funded by a US$ 1.3 million grant from the…
Committed towards supporting the local food and beverage sector adapt to initiating measurable ESG initiatives, help gain investor confidence and generate much needed foreign revenue, PwC Sri Lanka recently concluded a successful and thought-provoking webinar titled “ESG towards a responsible future in the Food and Beverage Industry”. Participated by decision makers in the food and…
By Faris Hadad-Zervos World Bank Country Director for Maldives, Nepal and Sri Lanka Sri Lanka was on its way to eliminating extreme poverty until the COVID-19 pandemic and the recent economic crisis threw the country into disarray. Between 2006 and 2016, extreme poverty—measured by the number of people living on less than $ 2.15 a…
The Sri Lanka Economic Summit 2022 organised by the Ceylon Chamber of Commerce will explore several areas of economic reform as Sri Lanka seeks to embark on a path of economic revival, with Session 2 of the Summit dedicated to ‘Implementing the Roadmap to SOE Reform – Opportunities for the Private Sector’, on December 6th….
To support the urgent medical needs of Sri Lankans throughout the country, Ambassador Julie Chung participated Monday (17) in the donation of medical equipment from the U.S. Department of Defense to the Ministry of Health at the Base Hospital in Panadura after meeting with Hon. Dr. Keheliya Rambukwella, the Minister of Health. The equipment, which…
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