Hemas Holdings PLC continued its recovery from a challenging first six months with Q3 FY 19/20 Group revenue and operating profit broadly in line with Q3 FY18/19. On a Quarter on Quarter (Q-o-Q) basis, we grew strongly over Q2 FY19/20. Revenue grew by Rs.2.3Bn, 14.9% over Q2 while operating profit and earnings rose by Rs.1.2Bn…
Sri Lanka’s overall computer literacy reported for 2019 was 30.1%, while the urban sector showed the highest computer literacy rate of 41.5% among residential sectors. Computer literacy rate for Rural and Estate sectors are 28.6 percent and 13.7 percent respectively, according to an annual bulletin on Computer Literacy Statistics – 2019, published by Department of…
The Hayleys Group, Sri Lanka’s most diversified conglomerate demonstrated strong resilience in the 3rd quarter of 2019/20 to achieve a 41% growth in profit-after-tax. The robust performance during the quarter enabled the Group to offset the subdued performance of the previous quarters, with the Group’s profit-after-tax increasing by 18% on a cumulative basis during the…
As a means to recover the country’s tourism industry following the Easter Sunday attacks, Sri Lanka granted free visas to travellers from 48 countries, for a period of six months from 1 August 2019. As the free visa program has been helpful for the post-Easter Sunday setback and key for a more complete recovery, the…
Approval of the Cabinet of Ministers was granted for the proposal of the Minister of Skills Development, Employment and Labour Relations, to set a up a mechanism in order to update Employees’ Provident Fund (EPF) members of their monthly transaction via SMS. The Employees Provident Fund (EPF) is currently the largest Social Security Scheme in…
The strategy experts suggest that, Sri Lanka tea industry should consider adopting the blue ocean strategy for it’s profitably and sustainability. The comments were made at a seminar organized by Tea Exporters Association recently under the theme of “Inventing New Horizons for Ceylon Tea” with the objective of finding new strategies for the development of tea…
“I am very grateful to H.E. the President Gotabaya Rajapaksa and the Hon. Prime Minister Mahinda Rajapaksa for their deep interest in elevating Afghanistan – Sri Lankan bilateral ties and further enhancing our two countries’ cooperation within the South Asian Association for Regional Cooperation (SAARC) and other intergovernmental organizations where we have advanced our common…
Sri Lanka was able to prove it’s potential to attract tourists with its various tourist attractions and as a country of numerous holiday opportunities at the Outbound Travel Mart (OTM) in Mumbai, India, which was held from 03rd to 5th February 2020. The Sri Lanka participation at this event was arranged by Sri Lanka Tourism…
In a move to strengthen the compliance and management capacities of national quality infrastructure (NQI) institutions and conformity assessment bodies (CAB), the United Nations Industrial Development Organization (UNIDO), within the framework of the EU-Sri Lanka Trade Related Assistance project, has provided technical support for a new food laboratory at the Industrial Development Board (IDB) to…
The Sri Lankan multinational Haycarb PLC reported revenue of Rs. 17.6 billion and profit before tax of Rs. 1,578 million for the nine months ending 31st December 2019. The profit after tax stood at Rs. 1,275 million. Haycarb PLC Managing Director, Mr. Rajitha Kariyawasan said, “the growth in turnover and profitability is attributable to the…
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