ICRA Lanka Limited views recent developments in the hydropower sector in Sri Lanka to be credit positive for mini-hydro producers that are currently operating. The rating agency has based its assessment on three-factors, (1) availability of sufficient water flows (run off river flow) due to favourable weather conditions that prevailed last year, (2) the Ceylon Electricity Board’s (CEB’s)…
Sri Lanka’s gross official reserves fell US$116.39 million to US$ 7,526.0 million in January 2020 from US$ 7,642.39 in December 2019, latest Central Bank data showed. By the end of January, foreign currency reserves were 6,616.37million dollars while the reserve position in the IMF was 66.18 million dollars. Special Drawing Rights were 7.3 million, reserves…
It has been planned to vest an extent of about 50 acres of land adjacent to the Harbour with the Sri Lanka Ports Authority for the development of the Kankesanthurai ( KKS) Harbour. Accordingly, the proposal made by the Minister of Ports & Shipping to transfer a portion of state land in extent of 15 acres…
With a view to accelerating economic growth in the country and based on discussions held with the Hon. Prime Minister and the Minister of Finance, officials of the Office of the President, Office of the Prime Minister and Ministry of Finance, the licensed commercial banks and licensed specialised banks (hereinafter referred to as licensed banks),…
Theme Resorts & Spas reaches another milestone in Ayurveda! A lake full of water as clear as crystal. Adjoining the lake is a paddy field whose crops sway to the tune of the light breeze that sweeps through them. Little feathery flocks chirping on Passion creepers that weigh down with delicious tropical goodness. Thus is…
Despite the 21st April incident last year, and also the recent Coronavirus outbreak, Sri Lanka was able to show that it has risen on its feet again and such challenges will not reduce it’ s popularity as a travel destination. The Island nation won a special prize, titled as ‘’ Comeback of the Year’’ at…
Muscle and flourish take centre-stage as latest SUV wows Colombo at exclusive preview The inspiration for its name may be rooted in mythology, but Kia’s Seltos SUV wowed the audience with its very real looks and muscle at a grand Colombo preview befitting the debut of a new automotive deity from the pantheon of the…
The economy is recovering from the terrorist attacks last April, with GDP growth projected at 3.7 percent in 2020. Ambitious structural and institutional reforms are needed to anchor policy priorities, bolster competitiveness and foster inclusive growth in Sri Lanka. Fiscal prudence remains critical to support macro-economic stability and market confidence, amid high levels…
The Ceylon Dollar Bond Fund that invests exclusively in Sri Lankan government issued International Sovereign Bonds (ISB), and SLDBs reported a strong US$ performance of 10.3% in 2019 to investors, while the fund size reached US$ 23 million as at 31 December, 2019, according to Ceylon Asset Management Managing Director, Dulindra Fernando. The January 2020…
A proposal has been presented by Sri Lanka Ports Authority to set up a Closed Circuit Television Camera (CCTV ) System to observe, supervise and record all the activities of all entrances to the port premises, Warehouses, Open Terminal Storage Areas, Boarder Fences, Port Breakwater Entrances. This will enhance the safety of the port and increase…
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