By Imesha Dissanayake The Government of Sri Lanka (GoSL) has very ambitious plans for the country’s economic transformation including an economic growth expectation of more than 6% during five-year period of 2022-2027. The national budget announced in 2022, forecasts public investments to be at 5.1% of GDP. A similar figure was announced during the last…
On the occasion of celebrating the 65th anniversary of establishing diplomatic relations and the 70th anniversary of the Rubber – Rice Pact, the Embassy of Sri Lanka in collaboration with the CITS Overseas Economic Cooperation Co., Ltd. launched an Embassy TikTok account on 18 February, 2022. This TikTok account will promote activities organized by the Embassy, Sri…
Sunshine Holdings (CSE: SUN) announced the appointment of Ruvini Fernando to the Company’s Board as Independent Non-Executive Directors with effect from 21st February, 2022. With the new appointment, the Board of Sunshine Holdings will be comprised of ten Directors, seven of which are non-executive, independent directors. Ruvini Fernando is a consulting and capital markets professional…
Consolidated Group profits of LKR 7 Bn – up by 35% Pre-tax profits crosses LKR 10 Bn – up by 12% Taxation contribution to Government of LKR 4 Bn Solid growth in total assets to LKR 703 Bn – up by 12% Notable growth in gross loans and customer deposits to cross LKR 500 Bn…
PGP Glass Ceylon PLC reported its nine-month results as at 31st December 2021, with a turnover of Lkr 7,064 Million and PAT (Profit After Tax) of 1,078 Million as against a turnover of Lkr 5,961 Million & PAT of Lkr 694 Million in the previous year similar period. The Board of Directors have declared a…
4Q Profits cross Rs. 1 billion mark for the first time in its history Net Interest Income – Rs. 9,642 million, up by 31% Net Fee and Commission Income – Rs. 1,783 million, up by 40% Other Operating Income – Rs. 392 million, up by 66% Operating Profits up by 39% to post 4,911 million;…
Resus Energy PLC, a forerunner in renewable energy, operating a number of small hydropower and ground mounted solar PV stations in Sri Lanka, recently connected its eighth small hydropower station to the national grid. Fed by the Madulla Oya, a main tributary of Uma Oya, and built with state-of-the-art equipment at a cost of over…
COLOMBO, Feb 22 (Reuters) – Sri Lanka is open to discussions with the International Monetary Fund (IMF) and other multilateral lenders for assistance, a cabinet spokesman said on Tuesday, as it faces its worst economic crisis in years. “Sri Lanka has sought IMF assistance multiple times in the past and we are still open to…
The Government of Sri Lanka is closely monitoring the situation in Ukraine in the context of recent developments. The Sri Lanka Embassy in Ankara, concurrently accredited to Kyiv, is in close contact with the over forty Sri Lankan nationals, including fourteen students, residing in Ukraine, with a view to ensuring their safety and welfare. While…
Entrepreneurs can rectify misconceptions : President Government’s COVID control process helped in protecting business… Improve tourism facilities… Let’s expand higher education opportunities within the country… : Entrepreneurs propose President Gotabaya Rajapaksa invited local entrepreneurs to invest in local industries and join in the process of nation building. The President made these remarks at a discussion held…
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