By Kimuthu Kiringoda “Tourism has been described as the world’s largest transfer of resources from rich to poor, dwarfing international aid.” – Salli Felton, CEO, Travel Foundation The tourism industry’s performance was hampered first by the Easter Sunday bomb explosions in 2019 and then the COVID-19 pandemic. Sri Lanka saw a decline in tourist arrivals from…
FY 2021 Group Revenue Growth at +18%, EBITDA Growth at +16% and NPAT Growth at +42% Rs23.2Bn Contributed to GoSL via Direct and Indirect Taxes, Fees and Levies Investments in High Speed Broadband and other Infrastructure Tops Rs31.7 Bn Recommended Dividend: Rs1.24 per Share Dialog Axiata PLC announced its consolidated financial results for the year…
Solar Universe in Vavunathivu adds 10MW; Hiruras Power in Mannar 15MW 3Q Group consolidated revenue LKR 3.6 Bn; bottom line increase of 4% YoY Hydro power revenue up by 25%; solar has growth of 22% WindForce PLC, the largest renewable energy developer in Sri Lanka which released its 3Q results for 9 months ending 31st…
Recognizing the need to recruit qualified, educated, and diverse talent to the company, Sri Lanka’s leading trailer manufacturer and exporter, Tantri Trailers (Private) Limited, recently signed a Memorandum of Understanding (MoU) with the Vocational Training Authority of Sri Lanka (VTASL) to employ students following welding courses at the VTASL. With the MoU in place, Tantri…
A delegation headed by the Deputy Director General for Administration & Financial Affairs of the Kuwait Fund for Arab Economic Development (KFAED) Nedhal A. Al-Olayan visited Sri Lanka recently to sign a loan agreement to construct and equip the Medical Faculty at the University of Moratuwa. The visiting delegation which included Deputy Director for Operations for East,…
The Colombo Stock Exchange (CSE) is in the process of admitting new Trading Members to the CSE under revised criteria to carry out Repurchase (REPO) transactions on debt securities on the Over The Counter (OTC) Platform of the CSE. The new criteria is introduced as an initiative of the product expansion line-up of the CSE,…
Washington D.C. and New Delhi, February 10, 2022 — Six South Asian nations, including India, are set to benefit from a new USD$ 21.5 million (EUR 18 million) funding from the European Union (EU), which will help to accelerate climate-smart, inclusive infrastructure investments in their regions. IFC, the largest global development institution, focused on the private…
Aitken Spence Travels, the leading DMC in Sri Lanka together with their Uzbekistan agent Asia Luxe welcomed the country’s first charter flight from Uzbekistan on Wednesday 9th February 2022. There will be a weekly flight operating every Wednesday until the end of March 2022. The charter airline operation is partnered with this leading tour operator…
By Felix Fernando Much has been said of the potential economic costs to Sri Lanka, of losing the Generalised Scheme of Preferences (GSP) Plus trade concessions to the European Union (EU). While these costs will be high, the social and human costs are likely to be even greater. Considering official statistics for 2021, available up…
The Commercial Bank of Ceylon has announced that it has joined the national remittance mobile application ‘Lanka Remit’ as a participating bank, to support the Central Bank’s latest initiative to facilitate inward remittances to the country. At the formal launch of ‘Lanka Remit,’ Commercial Bank Chief Operating Officer and Executive Director Mr Sanath Manatunge received…
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