The Norwegian Ambassador to Sri Lanka, HE Trine Jøranli Eskedal, will open Sri Lanka’s first floating solar plant in Kilinochchi on Friday (24). The floating solar plant is a result of the research collaboration since 2017 between the University of Jaffna and the Western Norway University of Applied Sciences (HVL) supported by the Royal Norwegian…
Fitch Ratings stated that it has revised the Outlook to Negative from Stable on the Long-Term Issuer Default Ratings (IDR) and National Long-Term Ratings of several Sri Lanka-based banks and has affirmed their ratings. Accordingly, Bank of Ceylon (BOC), National Savings Bank (NSB) and DFCC Bank PLC (DFCC) had their outlook revised. Fitch has also revised the Outlook…
Sri Lanka’s Confederation of Micro, Small and Medium Industries (COSMI) said that the landmark loan moratorium for SMEs offered by the government in December 2019 is on track to revive SMEs but the stipulated reporting deadline is ‘too tight’. “We praise the government for its determined action last December to revive domestic SMEs by suspending…
Renowned tea exporter Rohan Fernando has been appointed as the new chairman of Sri Lanka Telecom PLC (SLT). Fernando replaces P. G. Kumarasinghe Sirisena, who served as Chairman of SLT from 2015 to the beginning of this month. Rohan Fernando has over 40 years of experience in the tea industry and has been involved in developing,…
Mr. Viraj Dayaratne PC, assumed duties as the Chairman of the Securities and Exchange Commission of Sri Lanka (SEC) Wednesday, 22nd of January 2020. Mr. Dayaratne PC, had his education at the S. Thomas’ Preparatory School, Kollupitiya and at S. Thomas’ College, Mount Lavinia. He entered the Sri Lanka Law College in 1989 and was…
The Board of Investment of Sri Lanka signed an Agreement with Knitline Apparels Ltd to set up a manufacturing plant. Knitline Apparels will be setting up a high tech garment factory specialized in the manufacturing of flat knit fashion apparel. Under this Agreement signed recently the Company will manufacture knitwear such as pullovers, dresses, sweaters…
Headline inflation as measured by the year-on-year (Y-o-Y) change in the National Consumer Price Index (NCPI, 2013=100) increased to 6.2 per cent in December 2019 from 4.1 per cent in November 2019. This was driven by monthly increase of prices of items in the Food category along with the statistical effect of the low base prevailed in…
After repeated delays in the past years, Sri Lanka will finally roll out its first structured promotional campaign to uplift the tourism industry, Kimarli Fernando, Chairperson of Sri Lanka Tourism Development Authority said. “We as a government will be going ahead with various promotional campaigns which have been delayed for 4 – 5 years. Going…
Additional Solicitor General Viraj Dayaratne PC has been appointed as the new Chairman of the Securities and Exchange Commission of Sri Lanka (SEC). He takes over from Mr. A. R. Deshapriya, the Deputy Secretary to the Treasury who was appointed as Acting Chairman of the SEC on December 03, 2019. President’s Counsel Viraj Dayaratne is…
SriLankan Airlines will resume services to Paris and Frankfurt in the near future, State Minister of Tourism Promotion Affairs and Aviation, Arundika Fernando said. “We started our discussion with the Civil Aviation Sector to restart at least two flights from Germany and one of the destinations in Europe,” Fernando said whilst addressing a media conference…
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