Consolidated revenue of Rs. 15.8 billion PAT increased by 91% YoY to Rs. 2.5 billion Healthcare sector revenue up 48% YoY to Rs. 8.5 billion Strong growth in Consumer sector, revenue up 35% to Rs. 3.8 billion Agri sector revenue up 60% YoY to Rs. 3.4 billion Recording another quarter of impressive financial performance in…
Flexicare Lanka – a fully owned subsidiary of Flexicare Group, U.K. – recently inaugurated its state-of-the-art modern manufacturing facility in Bandaragama which is expected to revolutionise medical products manufacturing in Sri Lanka. With a total investment of over USD 15 million, the new innovative medical devices manufacturing plant begins its first phase of operations in…
Singapore Airlines (SIA) today resumes daily services between Colombo and Singapore, increasing flight frequencies to seven times weekly from five weekly flights. Flight SQ469 departs from Colombo at 0045hrs and arrives in Singapore at 0720hrs. For the return sector, SQ468 departs from Singapore at 2210hrs and arrives in Colombo at 2330hrs. Mr Zachary Liew, General…
Key Takeaways Achieving the fiscal revenue target will be somewhat challenging given the subdued economic growth next year and the likelihood of import restrictions continuing through 2022. The GoSL’s fiscal space available to boost economic growth via capital expenditure is greatly constrained at the moment by the country’s dire state of the external position. The…
The upcoming Sri Lanka Economic Summit 2021, the foremost and most anticipated economic event of Sri Lanka, will host a lineup of contemporary dialogues under this year’s theme ‘Springboard for revival: Opportunity to reset’. Day one of the event will feature a session dedicated to ‘Public-Private Sector Collaboration in Seizing the Opportunity to Reset’ on…
Drivers linked to dissatisfaction with COVID strategy and economic prospects, but opposition failing to benefit The Institute for Health Policy (IHP) today released the first results from the Sri Lanka Opinion Tracker Survey (SLOTS) that was launched to assess public opinion as the country recovers from COVID-19. The new survey shows that increasing numbers of…
ICT industry in Sri Lanka is expected to reach USD 3 billion revenue by 2024 Sri Lanka’s rank improved to 85th globally in the 2020 e-government Development Index, up from 94th in 2018 Global leading real estate consultancy firm, Jones Lang LaSalle (JLL), Sri Lanka, in partnership with Information and Communication Technology Agency (ICTA) of Sri…
Creating history in its journey of six decades ACL Cables PLC, Sri Lanka’s No.1 cable manufacturer has posted a phenomenal 189% year-on-year profit increase at the end of its second quarter demonstrating strong financial performance and stability as a group. Noteworthy are the resounding strong figures despite challenging economic conditions seen locally as well as…
The Embassy of Sri Lanka in Moscow in collaboration with the National Gem and Jewellery Authority of Sri Lanka and the Russian Club of Jewellery Trade organized a B2B virtual meeting between the Sri Lankan Gem and Jewellery exporters and Russian Jewellery companies on 11 November, 2021 with the objective of promoting Sri Lankan precious stones in Russia. The virtual B2B promotion…
Purchasing Managers’ Indices for both Manufacturing and Services activities expanded in October 2021. Indicating a strong revival in manufacturing activities in the country, the manufacturing PMI reached a 7-month high at 60.4 in October 2021. Services PMI increased to 57.9 in October 2021 underpinned by the increases in New Businesses, Business Activities and Expectations for…
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