Apparel generated US$ 446 Mn in May 2022, as compared with US$ 344 Mn in May 2021 Industry hopeful of achieving US$ 6 Bn target, as cumulative apparel earnings rise to US$ 2.2 Bn Urges Government to channel greater support to SME apparel producers Repeats demand for immediate reforms to secure political and economic stability…
Showcasing the extent the Board of Investment (BOI) is widening its projects, the Stylish Garments (Pvt) Ltd, unveiled its sixth BOI approved factory in Ambalangoda which manufactures children’s wear jerseys including school uniforms targeting only the international market. The Stylish Garments is a renowned a garment manufacturer and exporter of jersey knit and lighter woven apparel products. The…
Aitken Spence PLC reiterates their commitment to local and global sustainable development goals by acquiring Sagasolar Power (Private) Ltd, from the major shareholder LOLC Group for Rs. 1.4 billion. Moreover, it is in line with Sri Lanka’s power and energy strategy to increase power generation from the renewable energy sector. This investment from Aitken Spence…
SriLankan Airlines would like to correct certain false information circulating on media about the possible cancellation of a host of SriLankan Airlines’ flights due to the ongoing fuel shortage in Sri Lanka. SriLankan Airlines vehemently denies the accuracy of such information and confirms that it has been able to manage its flight schedule with suitable…
Ceylon Chamber of Commerce notes that a number of political parties, professional associations and civil society organizations have called for mass protests on 9th July. While clearly understanding the views of the general public and recognizing their freedom of speech and right to express views through public protests, CCC appeals to all parties to carry…
Introduction A super-holding company for managing State-Owned Enterprises (SOEs) has been identified as a globally successful model for SOE management. This model allows the government to adopt a more arms-length approach to SOEs’ operational decision-making, relieving it of the direct responsibility of overseeing all SOEs dispersed across various industries, and redirect its budget and energy…
By Ravi Abeysuriya Talk to anyone waiting for days in a long queue to get a few litres of fuel for daily living, unable to cook food due to the lack of LP gas or forced to stay in the darkness due to the power cuts or unable to find critical medicine the same set…
(Bloomberg) – Sri Lanka plans to tap Indian tourists to revive the South Asian island’s battered tourism sector and shore up its depleted foreign exchange reserves. Authorities will hold roadshows starting next month in five Indian cities to attract travelers seeking “wellness, leisure, and Ramayana-trail,” tours, corporate functions and destination weddings, said Harin Fernando, the…
(Reuters) – The Central Bank of Sri Lanka (CBSL) raised its key rates by a full percentage point on Thursday to tackle record high domestic inflation and to contain any build-up of underlying demand, it said. The Standing Lending Facility (LKSLFR=ECI) rate was raised to 15.50% while the Standing Deposit Facility Rate (LKSDFR=ECI) rose to 14.50%, the highest in…
The Monetary Board of the Central Bank of Sri Lanka, at its meeting held on 06 July 2022, decided to increase the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank by 100 basis points to 14.50 per cent and 15.50 per cent, respectively. Having noted the higher…
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