Advantis Projects and Engineering, a subsidiary of Hayleys Advantis Limited, has successfully completed its share of construction work on the New Kelani Bridge project. Amounting to one of the largest infrastructure development projects in the country in recent times, the New Kelani Bridge consists of the single largest suspension bridge and the longest elevated steel…
Facilitating growth and development opportunities for the private sector, the Ceylon Chamber of Commerce will conduct a webinar on ‘Listing Your Family Business on the Colombo Stock Exchange’ on 23rd November, 2021. Conducted in partnership with Acuity Partners, the webinar will focus on demystifying the process of listing companies on the Colombo Stock Exchange (CSE),…
The demand for organic food products is continuously increasing due to the growing interest in markets such as EU, USA, Middle East, Japan, and China. Among the producing countries, Sri Lanka maintains a reputation as a reliable producer and supplier of organic agricultural products adhering to the internationally required organic standards such as “EU Organic”…
As Sri Lanka’s thriving real estate sector attracts increasing investor interest, the Ceylon Chamber of Commerce in partnership with Iconic Galaxy, will host an immersive and comprehensive webinar titled ‘Why Sri Lanka is Becoming the Ideal Real Estate Investment Attraction’, focusing on understanding and exploring real-estate investment opportunities in the country, on 16th November 2021….
Dr Dushni Weerakoon Budget 2022 appears to be more of a stop-gap budget rather than one that sets out a framework on how revenues will continue to be mobilised and deficit financing requirements met over time. It seems that the government is hedging its bets on economic growth creating revenues, but with inflation set…
The Board of Directors of the Colombo Stock Exchange (CSE) approved the revision of the index calculation methodology of the All Share Price Index (ASPI) at a Board meeting held on 15th November 2021 to change its calculation basis from full Market Capitalization-weighting to free float-adjusted Market Capitalization-weighting with effect from January 2022 following consultations…
Sri Lanka Tourism and the Embassy in Stockholm presented ‘Destination Sri Lanka’ at the Travel News Market (TNM) – Sweden’s premier Tourism event on Thursday (11 November) at the Stockholm Waterfront Congress Centre. With Sri Lanka as a top tourist destination for 2022 opening its shores to the world traveler with minimum restrictions – especially…
Unfounded speculation is being spread by parties with vested interests that the recently announced request for proposals (RFP) in relation to the Securitised Financing Arrangement (SFA) is aimed at converting all worker remittances into Sri Lankan rupees upon receipt by licensed banks. The Central Bank of Sri Lanka (CBSL) categorically states that there is no…
• Immediate one-off impact for large companies akin to the super gains tax seen in 2015; focus on building medium term stability • Government plans on balancing consumption driven growth with ambitious revenue targets • If successful, the introduction of green bond financing is a potential USD inflow avenue The incumbent Government set out the…
Cost to Income Ratio (before VAT on Financial Services) improves to 30.73% from 33.95% at end 2020 and 38.51% at end 2019 Pays Rs.10.981 billion in total as taxes CASA ratio continues to improve, sets industry benchmark at 47.05% Growth of impairment charges curtailed to 7.56%; totals Rs 17.997 billion Provision cover further strengthened to…
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