24th May 2022 Hon. Wijedasa Rajapakshe Minister of Justice, Constitutional Affairs and Prison Reform Colombo. Dear Sir, Proposed 21st Amendment to the Constitution We appreciate the efforts taken by you to expedite the process of gaining approval from Cabinet to place before the Parliament, the 21st amendment bringing back salient provisions of the since…
The World Bank issued the following statement on Sri Lanka: “Recent media reports have inaccurately stated that the World Bank is planning support for Sri Lanka in the form of a bridge loan or new loan commitments, among other incorrect assertions. We are concerned for the people of Sri Lanka and are working in coordination with the IMF and…
The chairperson of Sri Lanka Tourism, Kimarli Fernando has stepped down from her post with immediate effect. In her letter of resignation, Fernando said she expects the newly-appointed Tourism Minister would want to appoint his own chairpersons and boards of directors. Harin Fernando was sworn in as the Minister of Tourism and Lands on the…
By Usha Perera Sri Lanka’s education sector, still reeling from the effects of the COVID-19 pandemic, now faces acute challenges due to the current political and economic crises. The sudden imposition of curfews and the lack of transportation have resulted in school closures and students being deprived of structured and systematic in-school education. In Sri…
Loan to boost Sri Lanka’s plastic recycling infrastructure and BPPL’s monofilament/ polyester yarn production Sri Lanka’s plastic recycling capabilities and infrastructure are set to soar with BPPL Holdings PLC, the country’s pioneer in the field, securing long-term funding of US$ 15 million from the International Development Finance Corporation (DFC) of the United States of America….
Reuters – Sri Lanka has hired heavyweight financial and legal advisers Lazard and Clifford Chance as it prepares for the difficult task of renegotiating its debts, a trio of sources told Reuters on Monday. The move is the latest development in Sri Lanka’s worst economic crisis since independence from Britain in 1948 and comes after…
The Group witnessed a strong recovery momentum during the year under review with the recurring performance of most of our businesses reaching pre-COVID-19 levels. Group revenue increased by 71 per cent to Rs.218.07 billion while recurring Group EBITDA increased by 152 per cent to Rs.39.26 billion. The significant growth in profits was driven by the…
By Bhathiya Bulumulla With the recent celebration of International Tea Day, producers, brands and marketers across the globe are joining together to promote sustainable production while raising awareness as to the benefits and impact of this miraculous beverage. However, the contemporary story of tea, cannot be told without speaking of the story of Pure Ceylon…
Sri Lanka’s Export Performance in April 2022 Earnings from the merchandise exports increased by 11.87% y-o-y to US$ 915.3 Mn in April 2022, the highest monthly value recorded for the month of April. This was mainly due to the increase in earnings from export of Apparel & Textiles, Coconut based products and Rubber based products….
The debt-ridden state-owned airline, which loses LKR 99 million a day, is a burden that the country can no longer afford. COLOMBO, Sri Lanka— SriLankan Airlines is one of the four largest loss making state-owned enterprises (SOEs) in the country. The financial performance of State-Owned Enterprises (SOEs) has placed a heavy burden on public finances…
Video Story
