Pelwatte Dairy Industries Limited (PDIL), the Sri Lankan dairy giant, has not slowed down its production or output but is effectively navigating Sri Lankan diary industry’s annual “Lean Season of December-April” sequence. Susantha Malwatte, the Deputy General Manager of Pelwatte Dairy Industries Limited said: “There is no truth in the social media reports which incorrectly…
The construction of the second phase of the Eastern Terminal of the Colombo Port will commence today under the patronage of President Gotabaya Rajapaksa and Prime Minister Mahinda Rajapaksa. With the planned construction beginning today, the length of the Eastern Terminal will increase to 1,320 meters letting the Sri Lanka Ports Authority (SLPA) to handle…
The much-awaited IPO of Hela Apparel Holdings Limited (the holding company of the Hela Clothing Group) opens today, 12th January 2022. Aiming to raise LKR 4 Billion in equity capital through the issue of 267,108,998 ordinary voting shares at a price of LKR 15 per share, Hela’s IPO is the largest by value in over…
Huawei participates in National Digital Consortia on January 11th to share innovative technologies and global best practices and cases that enable the fastest route to the digitalization of economies. The National Digital Consortia is organized by Information and Communication Technology Agency of Sri Lanka (ICTA) in partnership with FITIS, SLASSCOM, BCS, CSSL. The event also…
On 3 January, Sri Lanka’s (Caa2 stable) government announced a fiscal relief package worth LKR229 billion ($1 billion, 1.6% of our 2022 GDP forecast) to support the economy and alleviate the impact of higher consumer prices on low-income households. While the size of the package is moderate and will be fully funded via reallocations from…
MUMBAI, Jan 11 (Reuters Breakingviews) – Sri Lanka is the poster child for China’s so-called “debt trap diplomacy”, so asking Beijing for easier repayment terms looks logical amid a worsening financial crisis. Other options for President Gotabaya Rajapaksa may be to seek disjointed funding support from India and others or another bailout from the International Monetary Fund…
By Dr. Charitha Perera, Director – Transco Cargo With the onset of the COVID-19 pandemic in early 2020 and the subsequent lockdowns witnessed in countries across the world, global demand for goods showed a dramatic increase in the second half of 2020 as well as in 2021. Services were severely restricted due to the lockdowns…
By Yukthi K. Gunasekera Over 2.3 billion Rupees is lost every year in Sri Lanka’s private sector due to unproductive meetings. This is a conservative estimate* – my guess is that the correct figure is probably ten times this number. Take for example what happened at a top apparel manufacturer in Sri Lanka. Every Saturday,…
The first profitable month since the onset of the Pandemic SriLankan Airlines reports a Company Profit of USD 9.25 million and a Group Profit of USD 10.66 million for December 2021, which is the first profitable month for the Airline since the onset of the Pandemic in early 2020. The revenues are up by almost…
International reserve management of a central bank is a dynamic and technical process which is usually designed to ensure that a country’s foreign assets are readily available and controlled to achieve a defined range of objectives. Accordingly, the adoption of appropriate reserve management policies relating to the asset composition, currency mix, liquidity needs, tenor, profitability,…
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