Reuters – Sri Lanka plans to replace its current “unrealistic” budget and is in talks with the World Bank to extend its support by $300 million to $700 million, the country’s finance minister said on Wednesday. The island nation, hit hard by COVID-19 and short of revenue after steep tax cuts by President Gotabaya Rajapaksa’s…
Sri Lanka’s Micro, Small and Medium Enterprises (MSMEs) are the backbone of the nation’s economy. They account for up to 45% of job creation, make up nearly 75% of businesses in Sri Lanka, and also contribute up to 52% of GDP. However, the MSME sector often faces challenges when it comes to obtaining financing facilities…
The Granbell Hotel Colombo recently opened its doors, warmly welcoming all to experience a fusion of Japanese and Sri Lankan hospitality. The property is owned and managed by the leading Japanese company Belluna Co. Ltd, a listed company in the Tokyo Stock exchange. The Granbell Hotel Colombo, adds to a growing portfolio of properties around…
The SLASSCOM HR Forum, comprising of leading HR professionals of the IT/BPM industry, who is passionate about building a progressive national workforce that is armed with the requisite skills to meet the future needs of the industry, recently signed an MOU with the STEMUP Educational Foundation, to collaborate with it’s Internship Portal, “CareerLink”, that is…
SriLankan Airlines Ltd. welcomes and respects the rich debate in the public space on matters concerning the Operation of the Airline in General and the ‘Notice of Procurement’ for the Lease of Aircraft in specific. The Board and Management are of the opinion that the discussion on these topics would benefit from more full information….
External Debt and Debt Servicing External Debt Sri Lanka’s total external debt position increased in 2021, mainly with the increase in the external debt of the Central Bank and deposit taking corporations. The total external debt of the country increased to US dollars 50.7 billion at end 2021 from US dollars 49.0 billion by end 2020….
By Rohan Parikh Sri Lanka is currently going through what appears to be a ‘once in a generation’ crisis, both economically and politically. How would this impact the country’s real estate market, particularly the market for residential condominiums? Firstly, it’s important to understand that unlike, say, manufacturing or services, the impact on condominiums will be…
Luminex Limited has announced their plans for a LKR 250 Million initial Public Offering (IPO) of 31,250,000 ordinary shares at LKR. 8/- per share commencing on the 12th of May 2022. The issue amounts to a 11.52% stake of the company subsequent to the IPO. The amount of LKR 250Mn raised from the IPO will…
Multiple crises and the rise of people power are taking their toll on business sentiment Be it the devaluation of the Sri Lankan Rupee – which has seen it shed nearly 75 percent in a matter of weeks – the ignominy of a virtually cashless treasury, shortages of essentials (not to mention galloping inflation), the…
The largest development project in Eastern Province Investment worth Rs. 5.5 bn on infrastructure facilities and other development purposes Four leading garment manufacturing companies willing to invest Sri Lanka annually spends the US $6 bn on raw materials needed for textile manufacturing. With this Textile Park, raw materials worth the US $500 can be manufactured…
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