The US$ 400 million+ ITC One Colombo project, which comprises of the Sapphire Residences residential tower and super luxury ITC hotel, is creating history by recording many firsts in Sri Lanka and is on course to be completed in 2023. The majestic 50-storey Sapphire Residences tower and the parallel 30-storey high super luxury ITC hotel…
Anchored through a heritage of excellence spanning over 150 years with diversified business operations across 8 countries, Aitken Spence PLC reported a strong performance during the Q1 that ended 30th June 2022. The conglomerate recorded a significant increase on its profit before tax (PBT) of Rs. 7.2 billion compared to a loss of Rs. 467…
By Prof. Samitha Hettige Sri Lanka approaching the IMF and the World Bank and the recommendations which followed indicating SL should work closely with China is being widely discussed at present. Bangladesh which supported SL during the recent months is the latest South Asian nation to approach the IMF for assistance to recover from the…
From 5th to 2nd position in the market in 5 years Gross Written Premium of Rs. 11.4 Bn with an increase in top-line growth of 24% Market share of 17.1% as of 30th June 2022 Top-line growth of 24% vs an overall industry growth of 18.7% Profit After Tax rose to Rs. 1.2 Bn with…
Under the Sri Lanka Tourism Promotion Bureau’s Visiting Journalists & Blogger Programs, a group of high-profile Indian media delegations was invited to Sri Lanka from 3rd July to 11th July 2022 to re-discover Indo-Sri Lanka historical relationships within two nations. A total of 08 members of the delegation represent several key states & cities of…
ETI and AAFA have extended their support to the apparel industry. JAAF welcomes this move as it complements and enhances worker welfare measures already taken by the industry. Demonstrates international brands commitment to Sri Lanka as a long term sustainable partner As Sri Lanka struggles under the weight of the ongoing economic crisis with power…
– Healthy Revenue performance in the first six months resulting in 50% YoY growth in Operating Income – PBT of LKR4.6Bn and PAT of LKR 2.7Bn in 1H22 supporting further Capital formation – Tier I Capital at 12.24% and Total Capital Adequacy at 14.58%, well above regulatory levels – Exposure to USD denominated Sovereign Debt…
The Central Bank of Sri Lanka (CBSL), with a view to broadening its engagement with key stakeholders of the economy, established the Stakeholder Engagement Committee (SEC) by replacing the Monetary Policy Consultative Committee (MPCC) and the Financial System Stability Consultative Committee (FSSCC) of the CBSL that were in operation previously. The SEC is chaired by…
Travel Weekly – Tui holidays to Sri Lanka will continue to be cancelled until the end of the month. The latest extension was announced Wednesday (10) due to the ongoing political and economic instability in Sri Lanka. It comes as the Foreign, Commonwealth & Development Office (FCDO) continues to advise against all but essential travel…
Reuters – Latvia and Estonia withdrew from a cooperation group between China and over a dozen Central and Eastern European countries on Thursday, following in the footsteps of Baltic neighbour Lithuania which withdrew last year. The move comes amid Western criticism towards China over escalating military pressure on democratically ruled Taiwan, which China claims as…
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