Country’s stock index had one of the worst days in history Lukoil’s Alekperov saw biggest decline, followed by Mordashov Bloomberg – Russia’s wealthiest individuals were already feeling the squeeze from escalating tensions between the nation and Ukraine. It got much worse for their net worth after Russian President Vladimir Putin’s decision to invade Ukraine. In…
Reuters – Sri Lanka’s central bank on Thursday said the country had not sought any “restructuring” assistance for its debt, amid a worsening economic crisis which has seen essential imports stalled due to a lack of foreign exchange. Central Bank Governor Ajith Cabraal wrote on Twitter that talks with financiers and bankers had only covered…
Over 80 prospective Japanese companies participated in an online webinar organized by the Embassy of Sri Lanka in Japan. The Ambassador of Sri Lanka to Japan Sanjiv Gunasekara highlighted the investment synergies between Japan and Sri Lanka. He emphasized investing in the IT sector, renewable energy and agricultural technology. The Ambassador also mentioned the high…
The Ceylon Chamber of Commerce (CCC) recently launched the 7th edition of its flagship annual Outlook Report for 2022 at the Economic Outlook 2022 webinar. Titled ‘Road to Recovery: Overcoming Challenges’, the report covers key fundamentals of the global and local economic outlook, policy outlook, and private sector perspectives for the year 2022. This year’s…
Net Interest Income soars with impressive 20.98% growth Seylan Bank recorded a Profit After Tax (PAT) of LKR 4.6 Bn for the year ended 31 December 2021 as Net Interest Income (NII) soared with an impressive growth of 20.98% for the period under review compared to 4.64% growth reported in 2020. Despite the extremely challenging…
The Group achieved a record Profit Before Tax of LKR 10.4 billion, for the twelve months ended 31st December 2021 – a growth of 38% compared to the previous year, despite the challenging operating environment experienced during the period. The Group recorded a Profit after tax growth of 65% supported by the decrease in the corporate tax rate. Business Growth The…
Mahindra & Mahindra Ltd. (M&M Ltd.) and Ideal Motors, a fully owned subsidiary of the Ideal Group, today (24) announced the start of deliveries of the new Bolero City Pik-Up in Sri Lanka. With this, Bolero City Pik-Up becomes Mahindras first single cab pick up to be assembled in the country. The vehicle has been…
Sri Lanka’s merchandise exports increased by 13% to US$ 1,062.63 Million in January 2022 compared to January 2021 as per the data released by the Sri Lanka Customs. Further, it is a 5.7% increase when compared to January 2020. EDB Chairman, Suresh D de Mel said, “Exports performance in January 2022 has been remarkable and…
Taking Sri Lanka’s 2500-year history of handloom to the next generation of global designers London College of Fashion, a constituent college of the globally recognised University of the Arts London (UAL) with Selyn, Sri Lanka’s leading and only fair trade handloom manufacturer, has launched a unique collaboration that brings together Sri Lanka’s 2500 year old…
CNBC – Oil prices popped more than 4% on news of the military operation on news that Russia was launching a military attack in Ukraine. U.S. crude futures jumped by 4.73% to trade at $96.46 per barrel. Brent crude futures were up 4.69% at $101.93 per barrel, crossing the $100 level for the first time…
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